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 Replies: 9 / Views: 1,021 |
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Pillar of the Community
 United States
3098 Posts |
I just received this lovely 1869 Seated Liberty half dollar. I purchased it as Uncirculated. It looks very nice to me. I can't see any obvious rub, it has lots of luster, some light toning and small scattered field marks. Sorry that the photos aren't better. I had to take them in the seller's holder in case I might send it back. What do people say? Does it make Uncirculated and does it look original?   Paul Bulgerin
Edited by Paul Bulgerin
05/23/2015 10:43 pm
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Pillar of the Community
United States
7627 Posts |
I think the coin has been dipped to remove some heavy, dark toning. There is still some heavy toning buried in the devices and in the fields on the obverse. They should have left it alone as it was probably a nice coin.
The coin was/is probably "unc" but will not slab "UNC" because of the cleaning/dipping. It will only "net" grade AU details and the Seller knows that.
If the Seller thought it would slab problem-free he would have submitted it.
Edited by westernsky
05/24/2015 2:49 pm
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Bedrock of the Community
United States
10982 Posts |
Quote:
What do people say? Does it make Uncirculated and does it look original? I agree with most of westernsky's comments. I believe it would straight grade at a major TPG as an AU+. The luster in the obverse fields are the give-away to me; it is notably impaired. So I say it does not make uncirculated but it still worth a chunk for what it is. |
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Pillar of the Community
 United States
3098 Posts |
I paid $300.00 for the coin. Is that a reasonable price for it considering it may have been dipped?
Paul Bulgerin
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Pillar of the Community
Canada
5417 Posts |
I think it would slab UNC Details.
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Pillar of the Community
United States
7627 Posts |
In my opinion, 300$ for that coin is too much. It is a "problem" coin and will always be a "problem" coin. Realistically, the coin should wholesale around 125$ and retail at 175 to 200$ on a good day. Problem coins are not in TPG holders for a reason. The reason this coin is not in a holder is because of cleaning. The Seller knows it's cleaned and he is just trying to move the coin along because he knows it won't slab. If it would slab problem-free "Unc", it would bring 350 to 450$. If you have a return privilege I'd exercise it. If you can't return the coin, consider the price you paid to be part of the fees you paid in earning your degree at the Numismatic School of Experience. |
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Pillar of the Community
United States
3098 Posts |
I have a fourteen day return on the coin and it came yesterday. That's why I took the photos in the seller's holder.
Thanks for the guidance and insights on what to look for. I'm still learning to determine silver coins that have been cleaned or are original. I'm glad I have CCF members to lend me their expertise.
I do know that if I spend that much I want to have an original coin.
I'll send it back.
Paul Bulgerin
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Bedrock of the Community
United States
10982 Posts |
$300 is a fair retail price for it. Problem-free as a MS62 or 63 it's a $800 to $1000 coin. If it did grade UNC Details then $300 is about right. http://coins.ha.com/itm/seated-half...Lot=1x=0&y=0It all depends on what you want. As a 7070 example with MS level meat it's a nice coin. If you're thinking about slabbing or flipping then I agree it should probably be returned. Coins like yours that are not harshly or abrasively cleaned net grade as problem-free AU pieces all the time but it's a gamble. |
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Moderator
 United States
23522 Posts |
I'm in agreement with the folks calling it dipped - those sharply-defined blocks of black on the coin can only happen for that reason. Dead giveaway, no other explanation beside cleaning.
Here's the takeaway: ten minutes' Internet research prior to the purchase would have told the story. There are fewer than 100 of these in Mint State between PCGS and NGC, and Mint State examples cannot be had for much less than three times this price. This one, available for $300, is a red flag all its' own. It's a "too good to be true" number.
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Pillar of the Community
United States
3098 Posts |
I sometimes take a chance at those "too good to be true" auctions. There are times when they turn out like this one, but at other times I've made some very nice scores on them. It's all part of the "thrill of the hunt" for me with the hobby. It sometimes ends up with me paying return postage to send a coin back, but I have added some very nice coins in my collection by bidding on auctions like this. My NGC MS-63 1857 Flying Eagle cent, sitting on my computer desk right now, that I picked up raw on ebay for $120 is one of those little victories. So this one will go back and I have learned some more about spotting cleaned silver coins. Thanks again for all the advice and coin grading information shared with me. I really appreciate it! Paul Bulgerin
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Replies: 9 / Views: 1,021 |
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Posted 05/24/2015 12:56 am
