It's A Very Cool Coin, But.

I stumbled upon this piece that a wrote a number of years ago, and thought some of you might enjoy it.

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I have this great 1859/8 that found its way to me a few weeks back. I didn't buy it on purpose; it was in a group of about 30 coins or so. I often buy groups like this. They keep me honest when I'm trying to establish the relative scarcity of varieties or die pairs. It's hard to have good numbers if you are constantly cherry picking, so I often buy groups. The particular 1859, 9 over 8 in question was not identified up front, it was listed as a narrow 9.

I reached for Turners The 1858 Cents of Provincial Canada, Volume II where Rob documents each obverse, reverse and die pairing for the 1859/8's. It turns out to be an RD3/OA1. The RD3 reverse is not that common but it's not scarce either. Rob has identified it as having coined about 5% of the overall 9/8 mintage. The obverse on the other hand gets around a bit more. The OA1 obverse has coined about 8% of the 9/8's and is also paired up with 2 other overdate reverses. Rob shows that this particular obverse is also associated with 3 different 1858 reverses, all of which are quite scarce.

Here's the cool thing about this coin. It has a cracked planchet that is so severe, it looks like the coin is going to break right in half! As soon as I saw it I knew I would be keeping the coin. The crack is right through, edge to edge, and shows clearly on both sides. I'm not exactly sure what's holding it together. From the edge of the coin, the crack splits L3 in the middle, runs between the E of ONE and the T of CENT, splits the 5 and the 9, bisects L8 and out to the rim. Flipping the coin over we pick up the crack at the rim splitting the first A in CANADA, straight up Vicky's neck, across her jaw, through her cheekbone, exiting about mid nose, and on to split the A in VICTORIA and out to the edge. This is a great break and it will make a great conversation piece.

OK here's the rub. I'll always have to describe the coin with the word "but". "Hey, have a look at this 9/8. The planchet is seriously cracked. It's very cool, but someone cleaned it." I say. "Yeah that's too bad. A great piece and a sought after die pair, what a shame" you lament. "But that's not all" I say, "look closer and you'll see someone took what looks like an awl to the coin and marked it up, both sides". "Man, that's too bad" you say, handing it back.

In this case I'm able to live with the "but". I didn't put out 9/8 money for the coin. It was a surprise in a bulk lot. If I had however shelled out the cash for that coin individually, I can tell you that each time I looked at it, the cleaning and the defacing would bug me to the point that I wouldn't show it to anyone. Sooner or later I would get rid of it and be done with it. How do I know this? It's because I have bought coins in the past that had that effect on me. I should have left them at the coin shop, show or walked away from the auction before I was high bidder. I get no pleasure from a coin that I have to describe with the word "but".

I know a dealer that says there is an owner for even the most scudzy coin. That might be so, but I'm trying hard to make sure it's not me. Leave those scudzy ones where you find them if you're anything like me. You will cringe every time you have to apologize for the look of your coin. Here is my scudzy 9/8 with the really cool broken planchet.