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 Replies: 24 / Views: 4,879 |
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New Member
United States
6 Posts |
Hi, I'm mainly a junk silver accumulator, but run into rare coins from time to time. Went through my grandmother's coins, which contained junk silver, Morgan dollars, Indian head pennies, and Shield nickels. In this bunch was this 1880 Shield nickel. I am looking for expertise on whether it's legit and value based on condition (ding on the edge). The other Shield nickels are in similar condition. Thanks in advance for the input!    Edited by UnkleJunkers
12/08/2016 12:06 am
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Bedrock of the Community
United States
11898 Posts |
I like your grandmother's Shield nickel. Looks real to me. Most people would call that a cull. I say it has a lot of character from a rough and tumble life. I think the coin is really attractive with good eye appeal. It's not worth a lot of money, but I think it looks great! IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
 United States
4593 Posts |
Significant PSD and very worn... straight grade G4 is $900 retail. This's shouldn't sell for anything near that. More sentimental value? But I'd wait for a series expert to chime in. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
4211 Posts |
 A good find for sure. |
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New Member
 United States
6 Posts |
Thanks everyone for the responses so far. This coin is going to be sold, need to figure out best route. Do I leave "as is" or send in to be graded/marked as genuine? Then do I bring to local coin show or sell online? Thanks again!
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Pillar of the Community
United States
6370 Posts |
Definitely legit. I have no clue as to value. Certification might be a good step.
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Rest in Peace
United States
17900 Posts |
I don't think you will have a problem with any questions concerning authenticity, which would be the only reason to have this sent to a TPG. The rim ding alone will insure it doesn't get a "straight" grade. Having it in a details holder probably wouldn't up the value much at all. List on ebay, open with low opening bid, like $9.99, close in 7 days on a Sunday evening, do not use reserve. These scarce dates have huge numbers of watchers, even for low grades, and you'll get a fair price in the largest coin market place their is. |
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Bedrock of the Community
United States
11898 Posts |
Sorry. Didn't realize that this had a mintage less than 20,000 and was rare. Good luck and let us know what you find trying to sell this coin. Thanks for sharing this story with us.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
United States
4418 Posts |
Welcome to the CCF and congrats on your find! I'd grade the 1880 nickel as a "VG details" coin with ED. It is what it is, and I'd not spend money to get this coin certified. My estimate of value would be $100 as an affordable filler. Of course, there are always folks out there who will pay more. Granted that the 1880 Shield nickel is a rare date, IMHO, the $900 catalog value for a coin graded Good seems way out of whack. Why on earth would a collector pay anywhere near that amount for a low grade specimen when certified Proof MS-66's can be purchased on ebay for $800-$850? Understood, circulation strikes are rare, but what collector wants to look at a Good coin when he can be mesmerized by a gem proof specimen? |
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Pillar of the Community
United States
2843 Posts |
Very likely that you would get well more than the $100 mentioned above.
These are very rare, and the damage is not so off-putting. (eye appeal wise)
Congrats.
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New Member
United States
6 Posts |
Keep the input coming, I think it's great. Next question: I'm trying to educate myself on terms being used with this Shield nickel. I here people say "proof" & "business strike" Is the coin I have considered a business strike because it went into circulation? I guess what I really need to know is how to describe or label the coin, when I list it. I want a potential buyer to know exactly what they are bidding on. Thanks again! |
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Pillar of the Community
United States
2843 Posts |
Quote:
Is the coin I have considered a business strike because it went into circulation? NO. Common misconception among beginners is that proof is a grade and business is a lower grade. The process for minting proof coins is different than the process for minting circulation coins. A proof can never become un-proof. I can become impaired or otherwise damaged. Your coin does not appear to be a circulated proof- at least not to me. There may be die markers that would help identify if it is or not. Somebody else here may know more about that. |
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Valued Member
United States
321 Posts |
A straight AG3 sold for $822 back in 2014.
PCGS estimates about 100 of these business strikes still exist out of an original mintage of 16000. Great find, and worth much more than $100, even in this condition. If you put it on Heritage you could probably get a few hundred out of it, but I wouldn't sell it if I were you because it has sentimental value.
Edited by Omegaraptor
12/08/2016 12:53 pm
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Bedrock of the Community
United States
17884 Posts |
Quote:Why on earth would a collector pay anywhere near that amount for a low grade specimen when certified Proof MS-66's can be purchased on ebay for $800-$850? Because proofs are easy to find and are not rare. Business strikes are rare and extremely difficult to find. Most people putting together sets of these can't get a business strike and have to settle for a proof. |
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Pillar of the Community
United States
4418 Posts |
My $100 valuation was the low end, and I noted that it could go higher at auction. Knock off 20% or so for auction commission.
Beyond the damage to our OP's coin, not unlike counterstamped coins in that regard, I would argue that there's also a fairly limited collector base who will pay anywhere near book value for an 1880 like this. Doing a cursory search for the 1880, I see that Larry Briggs has a pleasing looking VF with a rim ding for sale at $2250, looking for a buyer. Obviously, despite the low population for the business strike, I just don't see that much demand for the issue. Otherwise, why are the gem proof MS-66's not selling in the $800 range?
As an aside, a collector buddy of mine was able to purchase two counterstamped/damaged Chain cents from dealers for under $500, each. When it comes to the coin market in general, there are ideal transactions, and then there are real transactions.
Edited by ExoGuy
12/08/2016 2:56 pm
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Pillar of the Community
United States
4418 Posts |
@Conder101 ... I understand the demand factor, but we're talking about a low grade, severely damaged coin here. Let me ask you, a true and knowledgeable collector of of fine coins, a question. Would you sooner pay say $300 for the OP's coin or $800 for a certified MS-66 proof issue? Personally, I'd take the latter!
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Replies: 24 / Views: 4,879 |
Posted 12/08/2016 06:09 am
