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 Replies: 10 / Views: 1,266 |
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Pillar of the Community
United States
1374 Posts |
I've been doing some reading about how off grading can be when looking for quality IHCs. Specifically, it is important to review slabbed coins for a true grade. Here are two 1862 IHCs. Please grade each, and then I will tell you how each graded, how much they sold at auction, and when. THANKS! COIN 1:   COIN 2:   |
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Pillar of the Community
United States
2596 Posts |
the first one looks uncirculated and the second coin might be high AU or maybe MS but I cant really tell from the pictures.
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Bedrock of the Community
Australia
21788 Posts |
Has to be at least MS60 because there is no wear, probably 63 for the first one. MS58 or 60 for the second. Tiny amount of wear on the tie knot and the surfaces are a tad textured. (old dies?) A few nicks can be seen, including a small one on the rim. Both reasonably well struck up. Both are nicer than my IHC of this period. |
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Moderator
 United States
56855 Posts |
1st coin MS63 and the 2nd MS64. John1  |
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Pillar of the Community
 United States
1374 Posts |
My thoughts:
I'm left rather confused as I can see problems in both coins.
First coin - AU58? The middle diamond is very weak and it seems features have the slightest wear, especially compared to coin 2. Maybe just a late or weak die. Liberty has an unappealing scratch across the neck and into the ribbon. She also seems to have an unsightly BOOGER hanging out of her nose.
Second Coin - Leaning MS, but what about the shield on the back? Is that wear? Compared to coin 1, features seems sharper, especially the diamonds and bust in general. I agree it looks like there is a nick below the date. Maybe that extra metal could be pulled off with tweezers?! lol. There is die grease robbing detail from the lower right of the wreath. From the pictures though, the fields look very clean.
If I had a choice of either coin at the same price, I'm would certainly grab the second. Would rather have a great bust and all 4 diamonds. I also wonder if the second is a variety.
Edit: booger sp.
Edited by Drsandman2
01/05/2012 5:16 pm
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Pillar of the Community
United States
2596 Posts |
the second looks like it has a repunched 2
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Bedrock of the Community
Canada
10743 Posts |
Quote:
...as I can see problems in both coins.  The first coin has 'mushy' details and what looks like a small bit of corrosion.  can't tell for sure.  The second coin, has some nicks and bumps and dings, with a bit of wear so, it can't be MS, so, I would give them, 1st coin MS-60, second coin, AU-58  |
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Pillar of the Community
United States
5854 Posts |
I am guessing MS-63 on the first and MS details on the second. First one has scattered marks and a scratch on the neck which will probably keep it no higher than 62. The second one looks washed out possibly from a dipping.
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Pillar of the Community
United States
1374 Posts |
Okay, here we go... Coin 1: Graded MS65 in a NGC slab. Sold $750 plus $150 buyer premium. Plus taxes and fees. Sept. 2011 at the Goldberg Pre Gold Beach Auction. Coin 2: Sold as AU on ebay raw, for $63 and $2 shipping. This week. My thoughts. I'm glad someone else saw what I think is a repunched 2 on Coin 2. Maybe the 1, too? Liberty's hairlines under her ear lobe are very defined on Coin 2. However, on Coin 1 they are hardly existent. Not sure what is up with Coin 1, details really lacking. MS65 puts my jaw on the floor, seriously. Also, I'm curious if the rim nick on Coin 2 is actually a nick in the planchet, or in the die. Maybe it is commonly seen PMD? Rick Snow has an article on his website about the history behind grading IHCs, which is very interesting. After reading it, I went on a hunt to see if I could find examples. I thought this was a great one. :D BY THE WAY - Not seeing the $900+ premium on the first coin. I would have to say that Coin 1's slab must literally be worth its weight in gold. Edited by Drsandman2
01/05/2012 6:53 pm
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Pillar of the Community
United States
9796 Posts |
I see a lot of luster on the first coin, though a weak strike, I can't see this being anywhere near a MS65 coin, must really look spectacular in hand. There is a scratch on the first coin through the neck and into the diamonds on the ribbon, very obvious.
Second coin is defintely a lightly cleaned AU with a bold strike, as I see it, both coins have problems, but I'd rather be in the second one than the first as an owner! What was PCGS thinking that day? Or even better who originally submitted it to them?
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440Edited by westcoin
01/05/2012 10:53 pm
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Pillar of the Community
United States
1374 Posts |
To be honest, I thought the luster on the second coin looked more original. But hey I'm an amateur. I think it is important to note that some top notch AU58s can blow away low grade MS coins. In summation, I've concluded the following: Learn to correctly grade IHCs. Grade every IHC you see, in a slab or not. Market seems to be in a mess, grading and pricing (I think CC member responses on grades demonstrates this perfectly. How often do grades range from 58-64 on a coin here?) Don't over pay for inflated IHCs. Rick Snow has a fantastic article at his website: http://www.indiancent.com/content/10-thoughtsNot that I actually know these things, I'm just trying to pass on some interesting observations. I'm still on step 1 and it will take me more years to develop a great eye. And when you work as hard as I do for your dough, you make darn sure you know what you are buying. :D |
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Replies: 10 / Views: 1,266 |
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Posted 01/05/2012 04:46 am
