| Author |
 Replies: 26 / Views: 3,000 |
|
|
|
Valued Member
 United States
153 Posts |
Thanks for playing the game. It's an AU58. I like the fact that it is an attractive, problem free example of this very difficult basic type. I wonder if that's a good thing that it's in an old ANACS holder. I'm thinking that they used to grade more conservatively than today but I don't really know if it would crossover to PCGS if submitted or maybe even qualify as a MS or PROOF (hey, you never know :) I'm just hoping to enjoy the coin while I have it, and perhaps to bring it to my local coin show and try to sell it for a modest $50-100 profit.
|
|
Pillar of the Community
United States
3276 Posts |
You bought it with plans of reselling? Either way, when I resell, I'm super stoked with a $50 resell.
|
|
Valued Member
United States
153 Posts |
Well, maybe it's just wishful thinking that I will turn a profit on this coin. The PCGS Price Guide, which is almost always way above retail but from my experience usually not by more than 100% lists this particular coin @ $1600 in 58. I'm not sure what a dealer would be willing to pay out of pocket, but ideally if I could make it go towards a purchase for a nice Indian $10 Eagle for my Gold Page it could go a long way :)
Edited by coins4fun
01/08/2013 11:56 pm
|
|
Bedrock of the Community
United States
10982 Posts |
I looked up your auction and it shows a $999.99 BIN sold for $687.50! Did you actually make a $687 offer and have it accepted?
An AU58 for $687 is a great price!
|
|
Valued Member
United States
153 Posts |
Yes, after some negotiations that is the price I counteroffered with the fifty cents :) I think that I got an okay deal but I could be wrong and am looking forward to handling the coin in person. There is a 14 day return privlidge. I had really been searching for the earlier version of the Capped Bust quarter (Large Size) since I already have an example of this type in my 7070. I decided to pull the trigger on this particular coin anyway, seeing as it is problem free and has attractive toning, and the price was right. An example of the most common date of the Large Size type in AU-MS will definetly run a lot more than this coin.. The way I see it I cannot really go wrong with this purchase - I do hope to sell this coin for a short term profit, but if that is not possible this coin is an example of perhaps my favorite design and would be a nice addition to my collection. From the little research that I have done it seems like there is currently a much bigger collector base for Capped Bust Halves at the moment, and I can use this to my advantage and hopefully cherrypick some good pieces. Edited by coins4fun
01/09/2013 03:29 am
|
|
Bedrock of the Community
United States
10982 Posts |
coins4fun: You got one heck of a deal assuming the seller delivers (and there's no risk when paying with PayPal). Their $1,000 asking price was in line with current market results for the date/grade. Numismedia wholesale is $875 and recent auction results average around $1100 on problem-free pieces.
That was a rip! Please follow-up with some pics when it arrives.
|
|
Valued Member
United States
168 Posts |
I don't like it. The coin is a dipped AU. Silver of this age with circulation wear should not be stripped.
|
|
Valued Member
United States
153 Posts |
Hey Tom, you are from Newtown? I don't know what to say. I live close to you in Westchester, but I can't imagine what it must be like to have that happen in your own community. Anyway, about the Capped Bust quarter; I respect your opinion that from the photos provided you believe it is a "dipped AU." I bought this coin looking for a nice problem free example. When it arrived yesterday, I was not disappointed by its appearance. It does have what appears to be a fine die crack on the obverse. What do you mean by stripped? I also respect the professionals at ANACS, the oldest coin grading company, whose team examined the coin in person with a loupe and certified the coin as a problem free high end AU example. From what I understand, the holder is an old ANACS holder, when the company was even more conservative than it is today. Do you not have faith in their grading standards compared to PCGS or NGC? |
|
Pillar of the Community
United States
6385 Posts |
Very nice coin and the price was excellent. You did great and should not have any problem selling it at a good profit.
Any graded coin might have been dipped at some time. A silver coin could lose some original "skin" in this process (which I guess is what was suggested by "stripped") but if carefully done the dipping is virtually undetectable. In that case the coin will slab problem-free at all the TPGs. I don't agree that this coin was necessarily dipped as I've seen many bust quarters with similar appearance. The critical issue is whether luster is basically intact. An AU-58 coin should have lots of luster, very strong in protected areas between letters and stars and somewhat weaker in the open fields. There should only be a trace of wear. If this coin meets this description it is properly graded and easily worth more than you paid.
Enjoy!
|
|
Valued Member
United States
168 Posts |
I'm in CT, but not from Newtown. Like you, I do not know what to say to those folks directly affected.
The CBQ has definitely been dipped. There is no maybe about this coin. Silver coinage that is 170+ years old and that has seen circulation will not stay bright white with toning along the rims. The only way that silver this age and with this circulation might stay bright white is if it were sealed in glass, which is something I have seen at least one other time where a coin from this era was dropped in molten glass that was made at that time. Every grader at ANACS knew the coin was dipped and every experienced dealer who has sold this coin knew it was dipped. Please understand that dipping silver coinage is absolutely market acceptable and most folks prefer dipped silver of this age vs. a coin that has not been dipped.
I mentioned that it was stripped because dipping takes away the outermose layer of metal, dirt and oxidation; that's just what dipping does to a silver coin. The toning pattern the coin has is typical of what is known as secondary toning and is often found on dipped pieces. The coin may have been dipped within the last few decades and then placed into an album where it acquired color along the rims. Again, the grading companies are happy as clams to certify dipped coins, most dealers will readily buy and sell dipped coins and the majority of collectors prefer dipped coins. I do not, however, generally like dipped coins.
|
|
Pillar of the Community
United States
1959 Posts |
Tom B, Most collectors prefer dipped coins? The only people I know that prefer dipped coins are old ladies with blue hair and 10 year old boys. Any serious collector with any experience at all prefers original surfaces (or at least surfaces that "look" original). I agree with your assessment of the coin 100% though. 170 year old silver NEVER looks like that. It is a nice coin. I am a little obsessed in obtaining "original" coins. I collect bust quarters. The best way to assure I DON'T buy a bust quarter is to dip or clean it.
|
| |
Replies: 26 / Views: 3,000 |
First Page
Posted 01/08/2013 11:40 pm
