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 Replies: 15 / Views: 2,118 |
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Bedrock of the Community
United States
11898 Posts |
This is one of the rarest coins in U.S. regular issue coinage. There are only 4 known examples of the 1853-O No Arrows and Rays half dollar. The other 3 are graded vg8, vg8 and g6. This extreme condition and absolute rarity is for sale for $650k, so out of range for my pocketbook. This coin was part of Louis Eliasberg's complete collection of U.S. coins. It was one of the last two he needed to complete his collection. This was the penultimate addition. The last coin to complete Eliasberg's collection was the 1873-CC no-arrows Liberty Seated dime. What would you grade this coin? It is easy to find the TPG grade out there in the interweb, but has the TPG got the grade right? Let's give our opinions sight unseen for 48 hours, then reveal the grade after two days and maybe, if folks are interested, we could discuss whether the TPG was swayed by the rarity of the coin in grading it. Here it is:   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.comEdited by numismatic student
04/22/2017 3:02 pm
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Bedrock of the Community
 United States
11898 Posts |
Ironically grading accuracy doesn't really matter for this coin. It's not like you have any other options if the coin isn't graded correctly.  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
7234 Posts |
If only mintage of 4, why were they put into circulation? Or if they weren't how did they wear so much?
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Bedrock of the Community
United States
94367 Posts |
Mintage wasn't 4 - there are only 4 known survivors. This occurred during the weight-reduction crossover in silver coins, with the newer 1853 coins bearing arrows at the date. Production of the no-arrows coins was low to begin with at that point in the year, and being of greater silver weight, they were suddenly worth more than face value and many were melted as a result. Same applies to the silver issues of the prior several years (1849-1852) which were of course the most common in circulation at that point. Many of these are quite scarce today especially in higher grades.
As to the grade of this example, I'd say VF-20.
Edited by Coinfrog
04/22/2017 8:09 pm
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Bedrock of the Community
United States
11898 Posts |
Yes, one of the causes was the California gold rush that caused a glut of gold and messed up the fixed gold to silver ratio specified by the government. As a result, people were spending gold and hoarding silver. In 1853 the weight of half dollars was reduced by 6.9%. The Coinage Act of 1853 was passed on February 21, 1853 and specified the recomposition of the half dollar, quarter and dime, but exempted the silver dollar which continued to be worth more than $1 in silver content. An unknown number of these coins were minted and subsequently melted. One example may have been kept for the mint cabinet, a collection dating to the beginning of the mint which forms the basis for the Smithsonian collection, but it would likely have been finer than this coin.
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.comEdited by numismatic student
04/22/2017 5:50 pm
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Pillar of the Community
United States
1662 Posts |
I've seen this coin before, so I won't post a grade.
It's indeed a rare survivor of a very interesting year.
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Pillar of the Community
United States
2125 Posts |
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Bedrock of the Community
Canada
11922 Posts |
 VF-25. |
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Bedrock of the Community
United States
36844 Posts |
VF-30 but chances are it's in an EF slab.
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Bedrock of the Community
United States
11898 Posts |
This is graded VF35 by PCGS. It was once graded XF40 by NGC.
Did they get it about right?
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
7630 Posts |
Vf35 or Xf40... It really doesn't matter to me cause I couldn't afford it either way.
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Pillar of the Community
United States
8137 Posts |
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Pillar of the Community
United States
6396 Posts |
I would have pegged it at VF-25. It certainly looks like the grade opinion was juiced by the rarity. Kinda like that circulated 1804 dollar that was gradeflated from PR-40 (as I recall) up to PR-58 some years back. If you can afford a coin like that the assigned grade is likely not such a big deal. You want provenance, rarity, and bragging rights!  |
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Pillar of the Community
United States
1499 Posts |
VF-25. Far more than 4 were struck, but most them were melted at the mint, and some others when the way of what happens to coins when they go into circulation.
I'd say 200 to 400 were issued. Collectors didn't care about mint marks until the 1890s at the earliest. By there most of those few humdred coins would have long since been worn out and melted, or lost.
Edited by billjones
04/26/2017 3:30 pm
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Pillar of the Community
 United States
2843 Posts |
Came along too late to guess on the grade, but I agree that it seems a bit overgraded. The most intriguing part of this 1853 O no arrows is that one may still theoretically find a nicer kne out there. Maybe buried underground. That would be an awesome find.
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Pillar of the Community
United States
2130 Posts |
Everyone break out your metal detectors and lets hunt  |
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Replies: 15 / Views: 2,118 |
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Posted 04/22/2017 3:42 pm
