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1876 Newfoundland 5 Cent

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Valued Member
Canada
265 Posts
 Posted 07/16/2020  1:04 pm Show Profile   Bookmark this topic Add Silver101 to your friends list Get a Link to this Message
Okay - I'm reposting this as I can't make up my mind. This is graded AU-55 by PCGS which puts it among their top 11 graded coins of this type and year. The scratch on the reverse and the price (1800) are giving me pause however. It's a tough coin go find in any condition and higher grades are exceptionally scarce. Super high priority for me collection-wise. But....

Thoughts? Graded accurately? Worth it?


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 Posted 07/16/2020  1:23 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Personally, I couldn't live with the scratch.
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 Posted 07/16/2020  1:36 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
When something is this uncommon to find, to me it could be a placeholder just to assure I had one. It could be upgraded later.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Prosp long and liver.
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 Posted 07/16/2020  2:35 pm  Show Profile   Bookmark this reply Add johnnysprawl to your friends list Get a Link to this Reply
I agree with Coinfrog.

While I think the grade is fairly accurate (I would have put it at AU-50 due to the wear on the braid), it's the scratch that would make me pass...once you notice it...
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Canada
265 Posts
 Posted 07/16/2020  3:21 pm  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
I'm oscillating back and forth between these two opinions: the scratch is not un-seeable. The coin is exceptionally rare. If it did not have that scratch it would likely go for twice the current asking price.
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 Posted 07/16/2020  7:08 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply

Quote:
...it would likely go for twice the current asking price.
The last two AU55 sold averaged less than $1500.
Where are you getting your price estimates from?
That coin should be AU50 and the scratch is a price killer.
Have patience, something better will come along, it may take many years to build the collection you want.
"Dipping" is not considered cleaning...
-from PCGS website
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Canada
516 Posts
 Posted 07/17/2020  08:03 am  Show Profile   Check TheDeductible's eBay Listings Bookmark this reply Add TheDeductible to your friends list Get a Link to this Reply
This is a beautiful rare coin, no doubt. But you need to think about some time in the future when you might want to sell it to replace it. The scratch detracts from the AU grade and will really limit the number of buyers, as you yourself have shown by debating so much over this coin. You'll never stop seeing the scratch and will always look for an excuse for it.
If you can buy it an EF price fine, otherwise you may never get back what you pay for it as an AU coin.
PS - the Charleton shows prices only as high as EF40 @ $1,250, suggesting nothing higher exists...?
Valued Member
Canada
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 Posted 07/17/2020  10:18 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
@The Deductable - yes, that's correct as regards Charlton. But if you look at the PCGS POP reports it shows that they have graded 32 1876 NFLD 5c. 7 are mint state (there are some spectacular pictures) and another 4 are graded AU - including I guess this one. I think I got carried away about this coin because it's among the top 11 graded by PCGS and, for such a rare coin, that is potentially exciting.

But, two things. One is, this is a variation of the rookie mistake of buying the holder and not the coin - a highly respected TPG that is creating more buzz than is possibly merited. Second, while the grade is certainly AU (though maybe not AU-55), the scratch is a major detractor and it should have been noted by the TPG - they can certainly list problems like this. So in that sense the coin is mis-graded.

If the scratch wasn't there then I would say it would be something that would sell for a very high price - my experience is that the trend prices break down when you get to the coins in the stratosphere... But a coin with a major problem like this can't be regarded as belonging in the stratosphere. I would grade it AU-50 with a major scratch - probably should be selling for $500 or less.
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 Posted 07/17/2020  1:11 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
If you will be happy with a really nice EF, then be patient. If you want one as nice as this one, or nicer (that obverse is awfully nice, and I don't find the scratch that bad), you might have to wait a decade...

"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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 Posted 07/18/2020  11:05 am  Show Profile   Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
In late summer and fall I go in to the bush and search for mushrooms.
there are a lot of not so nice ones a very few very nice and tasty one.
so, do I take whatever there is offered on the ground? Heck NO
I apply my solid policy which is this:
You know when you know!
convert that to mean coins instead of mushrooms and you have your answer.
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 Posted 07/18/2020  11:55 am  Show Profile   Bookmark this reply Add Numis-Northerner to your friends list Get a Link to this Reply
Imo AU-50 details.
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 Posted 07/18/2020  12:25 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
That isn't a large scratch. It looks imposing on the enlargement, but for a fish scale, it's not bad. The coin is definitely AU, but looks more like AU-50/AU-53. That's a really tough date above EF.

It really comes down to you and your collection. What attracts you to this particular coin? How long has it been since you had that reaction to another one? Does it fit the rest of your collection? If you look at this coin a year from now, will you see the beauty of the strike and the obverse, or will you only see the scratch? Which would make you more comfortable - this coin or the hole in the collection while waiting for another? If the price is making you pause, what price would make you buy the coin without pausing? Is the difference between those prices greater than your willingness to wait for another comparable coin to appear on the market?

Just some thoughts. We've all be on the bubble with coins. On a personal level, I can only share that I've regretted not buying some coins more than regretting the ones I've actually bought.
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Canada
265 Posts
 Posted 07/19/2020  5:13 pm  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
Talked another $200 off the price tag so I'm going for it....thanks for all the input.
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 Posted 07/19/2020  6:01 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
It's nice!! Congrats!
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 Posted 07/19/2020  9:34 pm  Show Profile   Bookmark this reply Add Numis-Northerner to your friends list Get a Link to this Reply

Quote:
. Talked another $200 off the price tag so I'm going for it....thanks for all the input.


Congrats, Smooth talker lol. Nice addition, could you post pics when in hand?
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516 Posts
 Posted 07/20/2020  2:59 pm  Show Profile   Check TheDeductible's eBay Listings Bookmark this reply Add TheDeductible to your friends list Get a Link to this Reply
Nice to hear. It is a beauty!
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