| Author |
 Replies: 10 / Views: 1,449 |
|
|
Pillar of the Community
Germany
1849 Posts |
but it went for more than I was bidding to pay. So in order to avoid trouble at home.... The coin was hammered for 700 Euros. Adding 21,4 % commission and tax this amounts to about $ 1160. I was prepared to bid max. 600 Euros. Did I underestimate the value of this coin? In hand it was quite pretty, with what appeared to be natural toning. The reverse much better struck that the obverse. In fact, the obverse may have been weakly struck, or slightly worn, I could not tell. What do you guys think. Is it an interesting variety? is it worth the hammered price?  |
|
|
|
Valued Member
United States
269 Posts |
Unless this were to grade Au50 or better, you got out at the right time. Looks EF45 to me.
|
|
Moderator
 United States
23522 Posts |
Look at the I's in UNITED and AMERICA. See the missing right serifs? The bidders might be thinking this coin is the killer 1817/4, R.7 rarity. Me, I don't think so. Both the O-102 1817/4 and the (R.2) O-103 share that same reverse. And both of them have prominent dots in/around the 1-7 which ought to be visible in these pics. There *seems* to be detail to the right of the 7 indicative of the overdate, but it's too weak to be the variety. I have this one as O-103a, the version without the visible bump between 1-7. If it makes AU55 - not sure it does - it's worth the hammer price. But that's not what they were bidding on.  For the record, O-102 would be probably worth close to half a million Dollars in AU55. Of the nine examples known, the Condition Census coin is AU50. |
|
Pillar of the Community
Canada
5417 Posts |
Looks better than AU-50 to me. However, for it to be qorth your while it would have to be AU-58. I think this one isn't that mice though it is close. Overall it was OK that you backed out since the top bidder was likely to place a larger bud than he did if you raised it above €700.
|
|
Valued Member
South Africa
67 Posts |
That is one sexy coin man!
|
|
Pillar of the Community
United States
1531 Posts |
silver surfer, that's the first I've ever heard anyone say that
|
|
Pillar of the Community
United States
2797 Posts |
Definitely something curious about this one. The Head Engraver until 1817 was John Reich. He retired in 1817 due to failing eyesight. Reich only prepared one obverse die in 1817 and it was not used until 1818. Mr. Reich placed a covert 'signature' or mark the the obverse dies prepared under his tenure ... a small notch on the outside point of the 13th star. Of the 10 obverse dies used in 1817, only the 1817/3 and 1817/4 have this notch. These obverse dies had been prepared in 1813 and 1814. Take a look at this enlarged picture of GERMANICVS' coin and the arrow I inserted ... I see a notch.  |
|
Moderator
United States
23522 Posts |
There are other features to O-102 I didn't mention in my last. The obverse die was warped, higher on one side than the other, and as a result the right-side hair details can be expected to be weak. It's characteristic of the die, and not seen in the auction coin here. Star 7 is far closer to the O-103 location than the O-102, and the inside points more towards the O-103 location. I'm not sure that's the Reich notch; it causes what looks like a noticeable swing to the right on the point, which I don't see here.
|
|
Pillar of the Community
United States
3843 Posts |
Tons of eye appeal! Definitely a nice coin that should grade at least mid-range AU in my opinion. $1160 is full retail for an AU-55 though. Not sure if this is a 53 or a 55.
Edited by Joe2007
04/26/2014 01:54 am
|
|
Pillar of the Community
 Germany
1849 Posts |
Thank you all for your informative comments.
The auctioneer announced that floor bidders would have to bid 'substantially' higher that 700 Euros to outbid the mail bidder who took it home. So, it seems you are right Dave - the high bidder probably thought this was a rare variety. I checked the date area clearly and saw no trace of an undertype.
By and large I am not accustomed to paying retail for my coins - I guess I am spoilt that way. I would not have felt comfortable paying much over $1000 for a coin of a relatively common (R-2) variety, even in high grade.
|
|
Moderator
United States
23522 Posts |
Factoring die wear and strike considerations, it's not impossible that this is an AU55 coin. But, as O-103a, it's top-of-market for AU.
One must consider that Bust Halves have possibly the most fanatical variety specialists in all of numismatics, at the very least on par with EAC types. In fact, the prerequisite for joining their club - the Bust Half Nut Club (telltale, that) - is the ownership of 100 individual Overton varieties. BHNC people scour the world for new varieties, and not even a European auction is safe from a crowd of grim-faced Americans willing to knock aside a lower bidder in their determination to own yet another Overton variety.
O-103a isn't common, especially in higher grade - there are almost certainly fewer examples than there are collectors whose income allows them to purchase one. It may well be that the bidder knew exactly what he was getting, and was just willing to make a market to get it.
|
| |
Replies: 10 / Views: 1,449 |
|
Posted 04/25/2014 12:54 pm
