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 Replies: 15 / Views: 3,223 |
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New Member
United States
5 Posts |
Hello I recently came upon a 1877 IHC ungraded but definitely has the right markers for authenticity but it is an error coin I think. I have never seen or heard of an 1877 IHC with this type of error. It grades VF or XF but I am wondering if the error type makes the coin worth less or even less desirable. Thanks  |
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Pillar of the Community
United States
1295 Posts |
 to CCF! I could be wrong, but that sure doesn't look genuine... I would only buy a coin like this if it was slabbed and certified by one of the leading coin graders. Never buy rare coins raw. |
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Pillar of the Community
United States
1018 Posts |
Can you show us the reverse? I'm hesitant to call this one genuine.
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New Member
 United States
5 Posts |
Here is a picture of the reverse. I already checked the markers for the 1877 and everything matches to be authentic. I plan to get it authenticated just because and if it comes back as fake then the dealer said they will give me my money back. They are very confident that it is authentic. So lets assume that it is authentic and an 1877 IHC error. Does this make it more valuable? Is this really rare? What type of error is it?  |
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Pillar of the Community
United States
1584 Posts |
I hope you don't mind my photo edit. Looks like a planchet flaw.  |
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Pillar of the Community
United States
4897 Posts |
Quote:
Does this make it more valuable? Typically , in my experience, an error like this lessens the value of a key date coin. I think most collectors want this date in as good/ error free condition as they can afford. Error collectors would probably not want to pay the premium, because of it being a key date, for a simple example of a planchet flaw.....imho |
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New Member
United States
5 Posts |
Does anyone know what the value would be for an 1877 IHC-Genuine-Planchet Flaw-VF details?
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Pillar of the Community
United States
1018 Posts |
The reverse is correct. From what I can see now, this appears to be genuine. I believe the error hurts you on the price. Most collectors will look for an example that has a good planchet. Maybe an error collector would pay a premium, maybe not. Kind of hard to put a value on it.
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Pillar of the Community
United States
8516 Posts |
If you got it off ebay can we see the listing ? Oregon coin geek.....*** GO BEAVS ! ! ! ***
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New Member
United States
5 Posts |
I actually purchased it from a local coin dealer. Do you think the $1500.00 price tag for it as a VF-XF grade with the error was a good price?
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Pillar of the Community
United States
8516 Posts |
Personally I'd wanna problem free coin at that price but your pics aren't showing it too well.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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New Member
United States
5 Posts |
Thank You All for the responses.
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Pillar of the Community
United States
709 Posts |
I really don't like the look and feel of this 1877. The photos are pretty blurry, but I'm noticing slight differences compared to genuine examples. ONE CENT looks slightly slanted clockwise, and the "S"s in STATES do not look like the right font. Also the date position seems a little bit off.
Just my 2 cents.
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Bedrock of the Community
United States
17884 Posts |
For me the photos aren't good enough to confirm authenticity, but if genuine the the planchet flaw, if it is one, would decrease the value of the coin. Errors on key dates are white elephants. A person collecting the series typically wants an unflawed specimen so they would not want to pay full price for such a coin. He wouldn't pay a premium. An error collector would like to have a nice example of the error, but he can find one on a nice common date coin at a much lower price than he would have to pay for the key. So he wouldn't pay a premium for it.
The only person who might be willing to pay a premium for such a coin would be someone who is putting together a set of the series with EVERY coin having an error. But since the owner of the coin can't sell it to anyone else except at a discount, why should the person putting together the series with all errors pay a premium? So like I said, a white elephant.
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Pillar of the Community
United States
9792 Posts |
I agree that an error of any type that affects the surface, like a planchet flaw, or strike through would lessen the value on a key date coin, some collectors look for these types of errors, me included, just not on a key date coin unless the price is right. Most TPGs would also lower the grade I would think. Striking flaws like off center, or double strikes would increase the value.
"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/140440 |
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Moderator
 United States
16677 Posts |
Conders very first sentence. Something about it I don't like. I'd have your dealer send it to ANACS.
Just my 2 cents.
swcoin.ecrater.com
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Replies: 15 / Views: 3,223 |
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Posted 09/14/2014 12:31 pm
