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 Replies: 16 / Views: 2,374 |
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Valued Member
United States
153 Posts |
So I went to a local coin shop (Stacks, in NYC) with a Seated Liberty quarter which I had optimistically thought might be a rare proof striking. This coin was purchased off of ebay, intended to be included in a higher grade (mostly AU/MS some VF) 7070 album. Heritage Auctions have only offered a combined 18 of these particular coins since 1994, and some typical diagnostic features include a mis-shaped 1 and a vertical line going through QU. But, from what I had read, even experts sometimes disagree as to what or what is not a proof. Clearly, if this was a proof it would be one of the greatest finds ever. How would you assess/grade this coin?   The two young numismatists working at Stacks examined the coin with a loupe, for just a few seconds, and they adamantly believed that it was NOT a proof judging by its appearance.. but that it might certify as uncirculated - potentially worth multiples of what I paid for it - so I agreed to send it off to PCGS for $50. The 7070 album is coming along well, I am still looking for 4 missing coins: a Shield nickel (No Rays), Liberty Quarter No Motto/No Arrows, and two Liberty Seated halves. My future collecting plans - I was thinking about selling the Dansco Album intact on ebay or if anyone on the coin forum or perhaps a coin show is interested. (Do you think it would carry a premium selling intact or perhaps the other way around?) However, if the coin I sent into PCGS through Stacks turns out to be in the ballpark on MS63, I may be inspired to send in a lot of these coins for grading and individual resale. With that money, I might buy some nice gold pieces. I was listening to David Hall of PCGS among others who believe that gold/silver will be @ 5000-10000 per ounce in the next 5 years due to a recession! |
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Pillar of the Community
United States
8516 Posts |
I see a lot of hairline scratches on the reverse. Especially above the head of the eagle and the front of the beak, below the throat too. I'm nowhere near an expert but it will be interesting to see if it comes back without details.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
7191 Posts |
It is a wonderful coin but I do not think it is a proof. There are die cracks on the reverse above united and I would doubt a proof die would have been used to a degree of die cracks.
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Moderator
 United States
23522 Posts |
Quote:
It is a wonderful coin but I do not think it is a proof. There are die cracks on the reverse above united and I would doubt a proof die would have been used to a degree of die cracks. This. Given the vanishingly-small mintage of Proofs that year, it's not possible to believe they'd allow a cracked die to slip through. Still a superb coin, and 63 is probably close. If you're going to liquidate the 7070, do it individually. A 7070 built to this quality standard is well-worth slabbing and individual sales through the upper-tier auction houses, and at the other end you'll have the wherewithal for some nice gold indeed.  |
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Pillar of the Community
United States
5854 Posts |
I have to agree this is not a proof. MS-63 seems possible but the pictures are a bit too dark for me to grade from. Looks like a very nice coin whatever it grades.
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Valued Member
 United States
153 Posts |
Well, PCGS didn't like the coin. It just came back from PCGS AU Details "Smoothed." Sad, thought this coin might be a proof initially.
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Pillar of the Community
Mexico
1304 Posts |
"Smoothed".....what does THAT mean?
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Moderator
United States
23522 Posts |
Quote:
"Smoothed".....what does THAT mean? Working the fields with a tool that removes dings. It's the cause of the hairlines on the reverse. |
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Pillar of the Community
United States
3345 Posts |
RedBook doesn't even list any proofs (2012). but I dont doubt you guys
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Moderator
United States
23522 Posts |
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Valued Member
United States
153 Posts |
Where is the alledged "smoothing" ? On the reverse, next to United there appears to be a die crack. I don't get why this was given a details grade. Do you think that it's possible another grading service would have graded it much differently?
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Pillar of the Community
Mexico
1304 Posts |
Interesting.
"Smoothing" that's a new one for me! Thanks for the education! :)
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Valued Member
United States
386 Posts |
SuperdDave, could you take that pic of the coin and photoshop it with arrows so we can learn how the fields were worked and how to spot this?
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Valued Member
United States
366 Posts |
Too bad on grade. It would be nice to see real closeups and sharp images to understand what "smoothing" means. Assume that is form of polishing.
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Valued Member
United States
153 Posts |
So I ended up putting this nice piece in my 7070 album. I looked at it again tonight, under a loupe and it does appear to have deeply reflective surfaces, unlike any other Seated coinage I have owned. I am still thinking that it could be a proof, and given its rarity (all proofs prior to 1858 are extremely rare with mintages unrecorded) that possibility may have been overlooked by the grading service (it was not submitted suggesting that it might have been a proof striking.) I would be curious what some experts on the forum might think about this. I will probably bring the coin with me to a local coin show taking place in my area this week to get some further opinions. Edited by coins4fun
01/14/2013 01:29 am
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Valued Member
United States
168 Posts |
I hadn't seen this thread previously, but my first impression of the coin was that it had altered surfaces. I am truly surprised that the folks at Stack's did not tell you that when they looked at the coin.
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Replies: 16 / Views: 2,374 |
Posted 11/13/2012 1:43 pm
