| Author |
 Replies: 16 / Views: 3,076 |
|
Valued Member
United States
295 Posts |
Here's a coin that I spotted on ebay. It's is a NGC slab. The seller's pics are dark, but I thought I spotted something below the last digit in the denticles:  So I began to wonder--is this the Snow-2, which has a "94" poking from the denticles? Diagnostic picture below:  The "4" MPD appeared to be in the right place, but where was the "9"? Seeing a lone mark isn't enough for me to bid on a coin, so I went looking for other markers. What's surprised me is that I found an unpublished marker on all examples of this variety-there is a small, curved die gouge underneath the chin that's unique to this one die. Below is the gouge pictured on two MS coins, then on the coin I bought (far right)-do you see it? It pays to research even "documented" varieties.  And here's an enlargement of the die gouge underneath the chin on my coin. It may be a small mark, but it's found on every example of this variety I've seen:  There's another bold marker on this variety--a die scratch which crosses the TE in STATES, including my coin (pictured here)  Sure enough, when the coin arrived the 94 MPD is clearly visible. This coin is in a NGC EF40 slab--which I consider optimistic; I give it an VF30. I've been looking for this one, and happy to get it without other bids--it was $35 shipped. Primary markers under the date--I could get a sharper pic without the slab:  NGC gave this coin an optimistic EF40--I think VF30 is more realistic. Still, a nice even brown coin without issues.  Edited by Thulium
02/27/2017 4:43 pm
|
|
|
|
Bedrock of the Community
United States
94367 Posts |
|
|
Pillar of the Community
United States
2125 Posts |
|
|
Pillar of the Community
United States
716 Posts |
That's an interesting and, according to Snow, a fairly rare variety. I would give it a VF35. Pricing of varieties can be difficult because there is not a lot of information available. However, I think you got it for a fair price since the CherryPickers Guide lists a EF 40 for $50.00 . |
|
Valued Member
 United States
295 Posts |
Quote: I think you got it for a fair price since the CherryPickers Guide lists a EF 40 for $50.00 Me too--I think it might go higher with IHC variety collectors. As you say--it's probably scarcer than the Snow-1 this year. |
|
Bedrock of the Community
United States
94367 Posts |
Scarcer perhaps, but there is no IHC variety of any date with more eye-pop than the 1894 S-1.  |
|
Rest in Peace
United States
17900 Posts |
Excellent detective work. Congratulations on a nice find.
|
|
Valued Member
United States
295 Posts |
Quote:I think you got it for a fair price since the CherryPickers Guide lists a EF 40 for $50.00 Well I took another look at value, because CPG isn't exactly an accurate price guide for what IHC variety collectors pay. Rick Snow gives this variety 3 stars, which he describes as Quote:
"A highly sought after variety with a premium between 3X and 5X" That value range is supported by sales I've seen. But hey, if you can get a solid EF40 S-2 for $50--go for it!  |
|
Pillar of the Community
United States
716 Posts |
I misread the CPG pricing for your Snow 2 at EF40 It should have been $80 ($50 for non variety. Sorry about that. If you use Snow's star rating system, then your coin in EF 40, assuming a base price of $50, is worth between $150 and $250 (based on 3 stars). Quite a difference from the CPG price, but even Snow admits that the assigning of a star is somewhat vague and subject to market conditions. Perhaps a better indicator would be completed sales, but for many varieties there is not much information out there. So assigning a price to a variety can be very subjective, but should be based on supply, demand, an eye appeal.
You state that the value range based on Snow's star rating is supported by sales you have seen. So, do you feel comfortable basing the price of a variety solely on Snow's
star rating system.
|
|
Pillar of the Community
United States
8517 Posts |
Doesn't have much eye appeal but you never know what will happen if you can get two guys bidding for it.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
|
Valued Member
United States
295 Posts |
Quote:
So, do you feel comfortable basing the price of a variety solely on Snow's star rating system. I find it's a useful ballpark of value, but not definitive. I have sold IHC varieties, such as the 1894 S-1 and 1897 S-1, and I base my price roughly on what Snow sells them for--although I never ask for 'full retail'.  Quote:
Doesn't have much eye appeal In this case, you have to follow IHC MPDs a lot for this to have much appeal. Speaking of appeal--even though I collect overdates, I don't find the 1888/7 S-1 terribly appealing either. That it's the only verified IHC overdate probably accounts for its appeal. If another overdate were discovered that was more interesting, it would change that variety's standing/value. Edited by Thulium
03/03/2017 02:01 am
|
|
Pillar of the Community
United States
1695 Posts |
|
|
Pillar of the Community
 United States
3058 Posts |
Awesome find! I always try to cherrypick certain coins out of slabs, because others won't notice that the are an error/variety because it is in the slab.
|
|
Pillar of the Community
United States
709 Posts |
It's great that it's already in a slab. Varieties like this end up becoming more of a money sink if you have to do the slabbing. I think $50 for an XF 1894 IHC is too high. A coin like this might be worth twice that on a very good day, but I don't see more than that. Certainly nowhere near $150 to $250. I once saw a slabbed 1894 S-1 VF end without bids at $20. I still regret not bidding on it, but it shows that the demand is lacking. I used to go on buying sprees picking up any raw, unattributed minor varieties I could find. Fun hunt if you're into it, but I realized that it wasn't going anywhere value-wise. Anyways, long story short, I think this purchase was worth it. If it were raw, I would say it's a wash. Also, good find about the die gouge. I have one of these, I'll have to give it another look. |
|
Valued Member
United States
295 Posts |
Quote:
A coin like this might be worth twice that on a very good day, but I don't see more than that. Certainly nowhere near $150 to $250 Yeah...I don't know exact value and I won't claim to know. I have done some research, and see that Snow has sold this for 3-5X, depending on grade. But that's Rick Snow with a lot of buyers interested in his coins. |
|
Pillar of the Community
United States
709 Posts |
Very true. I was too general with that statement. Rick Snow has a very popular business. I wish I had more coins/varieties that he'd be interested in consigning or buying. Naturally, the MS+ coins have the most interest and the 3-5x would surely hold up there, but my G and VG coins just don't make the cut. Just find a 64RB and you're golden! So, what are you going to do with it? Keeper for the collection? |
| |
Replies: 16 / Views: 3,076 |
Posted 02/27/2017 5:17 pm
