New Coin - NGC MS-63 - Comments

That's a beauty swamperbob!

By the way there is another thread in the world variety forum which I think youll be interested in seeing.

https://goccf.com/t/171131

Looks like a 1839 Do 8R with a inverted D!

Gorgeous coin, looks completely legit.

If just grade by NGC,my coin will be type?

The Japanese coin in this case is genuine. I have not yet tried to fool NGC by submitting fakes. That would be too easy to do in my opinion.

I enjoy finding encapsulated counterfeits but I do NOT WANT TO ADD TO THAT NUMBER. It is far too high already.

The coin passed all of my own tests and that is why I submitted it. It is much better looking than the pictures I can fit on here. The fields are pristine and it has a super color - bluish.

I am looking for $1200 for it.

But here is the fun part of the story. This is one of the coins I got from the rat nest collection.

The rat's nest collection is one that I purchased a few months ago. The coin collection had been viewed by several dealers who had offered minimal amounts because it looked deplorable. I was a last resort for a decent price. It arrived in a box which contained the contents of a rat nest complete with rat droppings, chewed paper, dirt and wood scraps. It was a coin collection that was found in an unheated leaky barn in New England which had not been moved for over 50 years. Most of what was visible was hundreds of common junk foreign coins corroded beyond belief. Here and there were a few silver dollar sized coins. A few coins were obvious forgeries (or so I thought including the Yen) and a few were still in 2x2 envelopes. I offered and closed the deal for about double the previous high offer, which had not been disclosed before my "bid". It was a total gamble at that point - I saw only one coin I wanted for myself - an 1862 Oaxaca in a decent grade with full strike.

After I actually owned the coins, I soaked many of them including the Yen in acetone to remove the accumulated surface crud. Once it was cleaned up I changed my mind on the issue of forgery. It clearly appeared to be struck and 50 years ago was too early for a struck forgery.

I sold the corroded silver coins and the base metal coins (over 6 hundred) for almost enough to cover the entire purchase price. There were about 60 high grade coins remaining that had somehow avoided any serious damage by the rats, water or time. I the more common material at the FUN show for enough to finish the payoff of the price and cover the round trip drive top Florida from NC. There were 5 left over that in my opinion were worth grading. Of those 5 - 4 came back with good results one did not grade. The Japanese coin was one of the 4.

I have shown the Yen to several dealers with an average offer of $600.

The other 3 are:

1874A Greece 50 Lepta XF45 NGC # 3591808-001
1876A Greece 5 Drachma AU53 NGC # 3591808-002
1862 O FR Mexico MS-63 NGC # 3591808-003

As you can see the 4 coin were numbered consecutively.

The coin I was most interested in initially was the Mexican 1862 Oaxaca - it was one I saw and believed to be genuine when I made my offer to buy. It also was not as covered in crud. It has full breast feathers and uses the 1863 eagle not the 1861-2 type shown in "Resplandores".

So all in all, it appears that in this case, as in most, honesty in making the highest offer I felt to be legitimate was the best policy. Buying the collection for twice the second highest bid will likely seem to be a poor business practice for most professional dealers. But I am retired and not in this to make money. I prefer to simply break even and along the way help others out.