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1798 Draped Bust Large Cent Grading

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joeysanders627's Avatar
United States
408 Posts
 Posted 10/24/2016  9:02 pm Show Profile   Bookmark this topic Add joeysanders627 to your friends list Get a Link to this Message Number of Subscribers
Tell me what you think. I thought it was in better condition than most available. I got outbid at the last second and someone won it for about $130.00.

1798-Draped-Bust-Large-Cent-Grading

1798-Draped-Bust-Large-Cent-Grading

1798-Draped-Bust-Large-Cent-Grading

1798-Draped-Bust-Large-Cent-Grading
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joeysanders627's Avatar
United States
408 Posts
 Posted 10/25/2016  04:41 am  Show Profile   Bookmark this reply Add joeysanders627 to your friends list Get a Link to this Reply
I was thinking this might be fake. It looks like it has been cleaned or polished. If it isn't fake, then I grade it as extra fine. That is what held me back from bidding more. I did not believe a coin of this age and detail would go so cheaply. Thoughts of the CCF community would be appreciated.
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 10/25/2016  08:06 am  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply
the reverse die crack is interesting to say the least.
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moxking's Avatar
United States
17900 Posts
 Posted 10/25/2016  08:30 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Environmental damage, harsh cleaning, scratches that all by themselves would detail this coin. For me it doesn't matter what the "grade" might be as this coin has too many strikes against it.
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ChildOfTheWheat's Avatar
United States
5828 Posts
 Posted 10/25/2016  10:42 am  Show Profile   Bookmark this reply Add ChildOfTheWheat to your friends list Get a Link to this Reply
F Details, environmental damage imho
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IndianGoldEagle's Avatar
United States
36878 Posts
 Posted 10/25/2016  10:55 am  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
VF-20 details, environmental damage
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joeysanders627's Avatar
United States
408 Posts
 Posted 10/25/2016  11:48 am  Show Profile   Bookmark this reply Add joeysanders627 to your friends list Get a Link to this Reply

Quote:
For me it doesn't matter what the "grade" might be as this coin has too many strikes against it.


Well, it matters to me. That is why I asked. You do realize that this is not an American Silver Eagle where numerous MS70 examples exist of each and every year of the coin's existence? This is a Draped Bust Large Cent where no known MS70 examples exist. Every specimen is flawed. Why? Because the coin is over 200 years old and the production methods were not of the high quality and standards of today's US Mint. Also, time has taken its toll of most of these coins. Very few decent versions exist.

I don't really care as much if the coin was cleaned. These are all circulated coins, so, someone over the past 200 years has cleaned these coins at one time or another.

Scratches matter but not as much because of the fact that all the coins I saw had some scratches on its surface.

What I liked about this coin were the details. Most of the coins online at the hundred dollar price range were so corroded and worn that very few details of the coin were clear to the naked eye. That is why I asked the community for a grade. I wanted their opinion on what they think of the details of this coin. The details of this coin are very appealing to the eye compared to other samples at the hundred dollar price range.

I thought the details were XF for this coin, based on the grading standards listed on this site, but I am new to grading. That is why I posted this coin. It is to see how my grading compares with the more polished veterans of this site.

Thank you for your contribution.
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Collects82's Avatar
United States
1316 Posts
 Posted 10/25/2016  12:53 pm  Show Profile   Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
I can understand any grade from F-VF, but there are important Details of damage devaluing this coin, which discounted its value to $130 for what could have been a $500-1200.

Considering the discount to $130, I can understand the financial appeal to you, especially if a $500-1200 coin is not in the budget anytime soon. (I've never splurged to this level myself and my wife isn't about to green light it either!) Numbers wise, it is a SIGNIFICANT discount. The recent Heritage Auction of 19th Century 8 Reales had a plethora of Details examples, and the bidders routinely paid a premium as if they were especially good coins, but World Coins can be more volatile too. A previous poster commented on authenticity, and considering the low hammer price in context with how avidly these coins are collected by VERY deep pocketed collections, it might be a sign there are deeper issues with this specimen than "just" corrosion, discoloring, cleaning and scratches. I wouldn't feel too bad about losing out on this one.

Good news is you still have your money. Keep saving for a solid coin you will love :)
Edited by Collects82
10/25/2016 12:55 pm
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 Posted 10/25/2016  3:07 pm  Show Profile   Bookmark this reply Add jerryc39 to your friends list Get a Link to this Reply
coin did have a lot of detail remaining on it. Corrosion and scratches but the price was not horrible either. VF detail I would think.
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Coinfrog's Avatar
United States
94367 Posts
 Posted 10/25/2016  4:35 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
VF-25 details. Price seems decent for what it is, though not my kind of coin.
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 10/25/2016  10:20 pm  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply
its not an EF coin, check the coin itself against problem free and even problem riddled coins off HA archived pics as there are plenty of examples to compare agianst from F to VF to EF.

Personally, I would have saved $130 a month for 4 months and gone for a coin that will have value to an advanced collector.

http://www.ebay.com/itm/1798-S-172-...AOSwawpXwLS7

You actually can send this one back and you'll have like the linked or close to it in a problem free F12/15 by New Years if you like.
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Joseph7420's Avatar
Canada
11922 Posts
 Posted 10/25/2016  10:37 pm  Show Profile   Bookmark this reply Add Joseph7420 to your friends list Get a Link to this Reply
I am at VF-25 Details.
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paralyse's Avatar
United States
12057 Posts
 Posted 10/25/2016  10:42 pm  Show Profile   Bookmark this reply Add paralyse to your friends list Get a Link to this Reply
It is a porous, scratched, but still quite collectible VF 1798 Large Cent. The market is strong enough that you could always trade it in later on a better example, although there is a higher risk that you might need some time to find a buyer at the same price level. I am not sure I would consider it a good buy at $130, I think $50-$60 would be the upper end for me.

This is Sheldon's S-166 (R1) "Whisker" - 2nd hair style, tall serif on the L in liberty, and large 8 are unique to this obverse, although you can see the die "whisker" under the chin in the first picture too. This is the common state with the arcing die crack from E in UNITED through the last 0 in 100. An equally common (S-167, R1) variety exists with the same obverse, but cracked through the 8 in the date up through the bust drapery. The relatively crack-free reverse variety with the same obverse (S-165) is much scarcer, a high R4, and it happens to be the first listed, although not necessarily first-in-sequence, die pair featuring the "Style 2" hair with the extra curl behind the neck.

I'd rather have a slightly less detailed example with fewer problems, all else being equal.
Member ANA - EAC - TNA - SSDC - CCT #890

"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
Edited by paralyse
10/25/2016 10:46 pm
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jpbone's Avatar
United States
1959 Posts
 Posted 10/25/2016  11:10 pm  Show Profile   Bookmark this reply Add jpbone to your friends list Get a Link to this Reply
For me personally, this coin has too many problems to consider a purchase. Again, this is just my personal opinion, but I would rather sacrifice a little detail to gain a problem free specimen. I don't like the coin. Polished, corroded, scratched, spotted........ adds up to "off the table" for me.
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joeysanders627's Avatar
United States
408 Posts
 Posted 10/26/2016  04:10 am  Show Profile   Bookmark this reply Add joeysanders627 to your friends list Get a Link to this Reply

Quote:
I'd rather have a slightly less detailed example with fewer problems, all else being equal.


Thanks for the comments paralyse. Your insight is very helpful. I think it is a good coin for $130.00 looking back at it. No coin from that year is problem free in my opinion. Many are worn, cleaned and, I think, standards have to be lowered for coins which were minted over 200 years ago.

I love the eye appeal of this coin. It's funny, I was reading one of your old posts last night. You had bought a similar year large cent and people did not like the coin. They were very critical of it. I did not understand why.

I place more of a premium on the details. That is why I was wondering if it was fake at the price range. I saw ones that ran thousands of dollars, but they looked horrible to me.

If I was selling it, (I did not win the auction) it would not be for awhile. You are correct that I would have to find buyers who think like me.

Whoever got this coin, knowing what the awesome CCF community stated, I think got a fairly decent deal.

Thank you again for your great commentary.


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dsfreeworld's Avatar
United States
4337 Posts
 Posted 10/26/2016  08:12 am  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply

Quote:
No coin from that year is problem free





Quote:
I think, standards have to be lowered for coins which were minted over 200 years ago.


Not at all. You've got a lot to study up on to recognize wholly problem free copper and silver from the late 18th and early 19th century. You're in the right place to learn such things.
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