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Posted 04/14/2016 5:18 pm
I was having some fun with you with these three large cents, the 1850, 1852 and 1855. I purchased all three of these coins at the recent Early American Coppers convention which was held in Charlotte, North Carolina last week. I also purchased four other large cents at the same show.
Early American Coppers (EAC) collectors are notoriously conservative graders. In fact they have their own grading system. They take great pride in looking down their noses at the grades NGC, PCGS and the other TPGs give to early copper. Therefore most of their dealers carry coins that are either raw or graded with generally conservative grades on the holders. The seven large cents I bought fit that characterization. These coins are WAY ABOVE AVERAGE for the grades, but the prices charged reflect that. These coins are "the cream of the cream."
Many years ago a well known dealer would go to EAC conventions, buy up a bunch of coins, send them to NGC or PCGS, get much higher grades, and then "clean up." Those days are now gone. The prices have equalized the situation.
At any rate here are the slab grades for the three coins:
1850, PCGS MS-63, Brown. The dealer next to the person from whom I bought this one, also had an 1850 cent in MS-63, Brown. He wanted $30 less, but his coin had a number of marks when I looked at it with a glass. This one should be in an MS-64 or 64+ plus holder IMO.
1852, PCGS MS-65, Brown. The asking price for this coin was high, but in the end I had to say that it was too nice to pass, so I paid it. I don't know why it isn't in an MS-66 holder. The strike is phenomenal, and there are virtually no marks or spots. The "EAC grade" is MS-63+, which leaves me shaking my head. I guess a slab grade MS-69 would be needed to make MS-65.
1855, PCGS MS-64, Brown. My photography may have let this one down for you. This coin is simply super for the grade and worthy of the next point. It's not as nice as the 1852, but few coins are.
I am going to post this message with each of coins so you don't need to open those strings unless you want to view the grades other people gave to these coins.
Early American Coppers (EAC) collectors are notoriously conservative graders. In fact they have their own grading system. They take great pride in looking down their noses at the grades NGC, PCGS and the other TPGs give to early copper. Therefore most of their dealers carry coins that are either raw or graded with generally conservative grades on the holders. The seven large cents I bought fit that characterization. These coins are WAY ABOVE AVERAGE for the grades, but the prices charged reflect that. These coins are "the cream of the cream."
Many years ago a well known dealer would go to EAC conventions, buy up a bunch of coins, send them to NGC or PCGS, get much higher grades, and then "clean up." Those days are now gone. The prices have equalized the situation.
At any rate here are the slab grades for the three coins:
1850, PCGS MS-63, Brown. The dealer next to the person from whom I bought this one, also had an 1850 cent in MS-63, Brown. He wanted $30 less, but his coin had a number of marks when I looked at it with a glass. This one should be in an MS-64 or 64+ plus holder IMO.
1852, PCGS MS-65, Brown. The asking price for this coin was high, but in the end I had to say that it was too nice to pass, so I paid it. I don't know why it isn't in an MS-66 holder. The strike is phenomenal, and there are virtually no marks or spots. The "EAC grade" is MS-63+, which leaves me shaking my head. I guess a slab grade MS-69 would be needed to make MS-65.
1855, PCGS MS-64, Brown. My photography may have let this one down for you. This coin is simply super for the grade and worthy of the next point. It's not as nice as the 1852, but few coins are.
I am going to post this message with each of coins so you don't need to open those strings unless you want to view the grades other people gave to these coins.
