Is This Draped Bust Real?

By "better off" I mean in general terms, but with an eye to the future. We all collect with different goals or purposes in mind. Here are some specifics ...

The beauty or artistry of design
The history that can be connected to pieces
The financial investment
The joy of owning pieces that few other collectors have seen
The satisfaction of learning
The pleasure of exhibiting or writing about pieces
The pride of assembling or defining a set of coins/tokens
... etc.

For an entry level collector, thinking of acquiring a type coin that he'll appreciate for years to come, I'd suggest a problem-free, affordable specimen. On the other hand, if condition doesn't matter, why ask? Just buy whatever catches your eye. It can boil down to whether one wants to be a hoarder, buying willy-nilly, or to build a meaningful collection.

The OP said that he has a "very limited income" and, reading between the lines, that concerns me. Experience tells me that problem-free coins are far more salable when finances are a concern.

Without the corrosion with fine details it would be a $150 coin, so I think at $48 with Good bid at $70, its a fair deal. Whether a collector "should" buy a fine with corrosion over a solid Good-4 or not is not a question any of us should even attempt to answer.

Just for the record, folks, I wasn't telling the OP what he should or should not buy. The OP asked for opinions about the piece, and I voiced mine. I suggested a comparison coin to illustrate my thinking. Few collectors, I expect, have ever not experienced buyer's remorse at some time or another. I just wanted to offer my Two Cents on the piece and suggest that collectors will fare better if they apply a goal oriented approach when it comes to making purchases.

Whether this coin is worth $50 or $70 is, IMHO, highly debatable. A few years ago, I put some common, obsolete coins in an antique auction. One vinyl page of Mercury dimes, twenty coins, realized $120. A well worn $1 silver certificate realized $9. My point in relating this is that there are always exceptions to the rule. Having attended hundreds of coin shows for over forty years now, experience tells me that most coppers' dealers would sell a coin like that 1803 in the $25-$30 range, at most.

I could not agree more - well said.

Genuine, common vareity S-260 R-1. Nice detail but badly corroded/beaten. I would say that his asking price is top end value for the piece. I wouldn't mind it at $35, but $48 is just a little steep. Fair price is probably around $45. He offers free shipping so that could move the fair price up a bit.

Put me down as a "ditto" for what Exoguy said. My opinion lines up with his. I think it is solid advice.

Thank you all for your advice! For now, I think I'll hold off on buying this one in particular. In the spirit of being a true collector, rather than an impulse buyer, I'm instead going to keep working on my classic commemoratives and Confederate notes. Once I complete my commemoratives collection, I'll pay more attention to these old gems.

For the record, the listing ended AUG-02-2016 without selling at $48 ("on sale" from $60) by seller fairviewcoins.