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Why Did I Pay So Much For This Ugly Bust Half?

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fengk's Avatar
United States
986 Posts
 Posted 08/28/2008  8:55 pm Show Profile   Bookmark this topic Add fengk to your friends list Get a Link to this Message Number of Subscribers
I paid approximately 10x what Greysheet says I should pay for a problem free coin of the same date. So why did I pay so much for such a junky looking coin?

And yes, I do know why, and personally think I got it for a great price.

Why-Did-I-Pay-So-Much-For-This-Ugly-Bust-Half?
Why-Did-I-Pay-So-Much-For-This-Ugly-Bust-Half?
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jbuck's Avatar
United States
187582 Posts
Valued Member
United States
67 Posts
 Posted 08/28/2008  9:45 pm  Show Profile   Bookmark this reply Add daveg131 to your friends list Get a Link to this Reply
Got large letters?
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Nelrak's Avatar
United States
974 Posts
 Posted 08/28/2008  9:54 pm  Show Profile   Bookmark this reply Add Nelrak to your friends list Get a Link to this Reply
Overton 114
Edited by Nelrak
08/29/2008 10:36 am
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PennehChaos's Avatar
United States
311 Posts
 Posted 08/28/2008  10:25 pm  Show Profile   Bookmark this reply Add PennehChaos to your friends list Get a Link to this Reply
10x? I'm going to guess that Abraham Lincoln had it in his pocket when he was assassinated.
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daviscfad's Avatar
United States
4541 Posts
 Posted 08/28/2008  10:26 pm  Show Profile   Bookmark this reply Add daviscfad to your friends list Get a Link to this Reply
I dont think its an ugly coin but looks like it was in grandmas snuff can
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JonS.7070's Avatar
United States
295 Posts
 Posted 08/29/2008  01:32 am  Show Profile   Bookmark this reply Add JonS.7070 to your friends list Get a Link to this Reply
Looks to be the 114 UNITEDSTATES variety. The E in america is slightly higher than the M. Sweet coin!
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1sikevo's Avatar
United States
1130 Posts
 Posted 08/29/2008  03:59 am  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply
Must be an R.5 or R.6 variety for that kind of money.
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jbuck's Avatar
United States
187582 Posts
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1sikevo's Avatar
United States
1130 Posts
 Posted 08/29/2008  11:00 am  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply
Is it the picture or is the surface kinda bleached out ?
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eaglefoot's Avatar
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6326 Posts
 Posted 08/29/2008  1:33 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
I know !!......It's because you just LOVE Bust Halves and this one needed a good home !.......
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fengk's Avatar
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986 Posts
 Posted 08/29/2008  3:19 pm  Show Profile   Bookmark this reply Add fengk to your friends list Get a Link to this Reply
A few of you guessed it right. It's the rare 1830 O-114 Large Letters variety. This particular variety is listed as an R6 in the Overton book, but as an R5 in the latest BHNC updated rarity ratings. Edgar Souders wrote in Bust Half Fever that there were less than 29 coins of this popular variety in existence. These are normally found in VG-F, and this coin has exceptional detail left for the variety.

Just for comparison, Dick Osburn has a lightly cleaned example in VF on his site for $3700. So for around $600, this was an excellent buy in my book.

I don't have the coin in hand yet, so no comment on how the surfaces look.
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1sikevo's Avatar
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1130 Posts
 Posted 08/29/2008  3:43 pm  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply
Trade you my 1830 CBH plus I'll throw in some of those ASEs you sold me.

Why-Did-I-Pay-So-Much-For-This-Ugly-Bust-Half?
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Edited by 1sikevo
08/29/2008 3:56 pm
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KurtS's Avatar
United States
5318 Posts
 Posted 08/29/2008  3:53 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply

Quote:
there were less than 29 coins of this popular variety in existence
Wow! Does that suggest a very short die run, or perhaps the survival rate of early US coins?
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jbuck's Avatar
United States
187582 Posts
 Posted 08/29/2008  3:55 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Just for comparison, Dick Osburn has a lightly cleaned example in VF on his site for $3700. So for around $600, this was an excellent buy in my book.
I believe you made a great deal!

Quote:
I don't have the coin in hand yet, so no comment on how the surfaces look.
I am sure when you get it, more pictures will be posted!
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fengk's Avatar
United States
986 Posts
 Posted 08/29/2008  4:34 pm  Show Profile   Bookmark this reply Add fengk to your friends list Get a Link to this Reply

Quote:
Wow! Does that suggest a very short die run, or perhaps the survival rate of early US coins?


The same reverse die was used in 1828 I believe, so these coins were struck when the die was on its last legs. While the survival rate is probably pretty low, the short die run combined with popular variety is what makes this so expensive.
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