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 Replies: 8 / Views: 905 |
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Bedrock of the Community
United States
12057 Posts |
The 1864 in my other post is a good gamble on a bad photo; this 1859, not so much, but it was equally cheap. It has been cleaned (dipped?) by someone in the past and is now a rather un-original reddish color. The cleaning is retoning a bit -- there is some purplish/gold toning starting to set in on the obverse -- but it can't hide the wear. In-hand, color is a bit closer to gold than copper - the obverse is more accurate than the reverse -- and LIBERTY is partially visible but faint. Lots of circulation nicks and dings, including a hit at the date. I think it makes VG details - cleaned. How about you?   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 |
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Bedrock of the Community
United States
11896 Posts |
vg10 details cleaned. there is a scratch under RICA in the obverse. both sides show surfaces abraded from a cleaning but it really stands out in the reverse.
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Pillar of the Community
United States
8715 Posts |
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Rest in Peace
United States
18456 Posts |
Sorry , I don't like it . I have to ask you; You been around for quite some time now . Why would you buy a 1859 IHC in VG Details unless you intend to flip it . They are not that expensive in straight grades .  |
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Bedrock of the Community
United States
94367 Posts |
I kind of agree, Adam - what's the appeal here?
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Bedrock of the Community
 United States
12057 Posts |
It was $2 shipped. (combined shipping with the 1864 I won for $4.) It joins 5 other examples of its type from AG-XF and one with a counterstamp. It's a bit better in hand, but it's basically flip material. I figure I could put it up with a BIN of $9-$12 and it would sell pretty easily. This coin is always in demand for type set collectors, even in low grades and with issues. A profit of $3-$5 seems insignificant, but when you can achieve that or more for lots of 50+ coins, it's more useful. When I do sell, I have a lot of success with larger lots, especially higher quality bullion-grade silver, and with certain series such as IHC's, Lib Seated coins, and Morgan dollars. I have found through experience that while you can make a larger return flipping some lucky/smartly bought scores (bought it for $300/sell it for $600, e.g.) those coins take longer to sell and tie up your working capital while you wait on a buyer to happen along, unless it's something in high demand that moves quick. I can move coins like this 1859 all day long, the profit is much smaller but the sell-through rate is much higher. 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 |
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Bedrock of the Community
United States
36800 Posts |
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Bedrock of the Community
United States
94367 Posts |
Adam - Thanks, makes sense.  |
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Rest in Peace
United States
18456 Posts |
Have to agree .  |
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Replies: 8 / Views: 905 |
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Posted 10/20/2018 12:16 am
