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 Replies: 44 / Views: 9,362 |
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Moderator
 United States
16677 Posts |
A collector in Oregon purchased a 1795 Reeded Edge Large Cent for $1000. This coin has been examined by numerous dealers raw. These various dealers felt the coin to be an alteration so did not take the coin seriously after examination. While they are deciding weather or not this coin is genuine and finally determined it was not, this collector buys it, submits it to PCGS and it comes back Good4. Now I ask you, why didn't these dealers pay $30 to see what PCGS thought? No brainer to me. This collector is expected to get $200,000-$300,000 for the coin.  swcoin.ecrater.com
Edited by vermontensium
11/01/2008 6:07 pm
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Pillar of the Community
United States
2669 Posts |
 Wow! That's quite the ROI  |
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New Member
United States
4 Posts |
*drools* Why can't I ever find a find like that? Any pics? I love those old Cents...would love to see a pic! |
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Moderator
 United States
16677 Posts |
I just got my new Coin World. There is a pic on the cover. Looks like Good4, nice even light brown color. Let me search for it. swcoin.ecrater.com
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Bedrock of the Community
United States
14454 Posts |
this was already discussed here with a link to the original article I think, or I read it from somewhere a week or so ago and read the original article at that time. I thought coin news listed it but I can't seem to find the thread so it may have been sent to me in an email with a link to the original article because it showed pictures of the coin. Here is the coin   and here is a link to the auction of the coin at Bowers and Merena http://www.bowersandmerena.com/auct...=&lotno=1143 |
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Bedrock of the Community
United States
14454 Posts |
cant find the original article but it was said that they were unsure if this was a new discovery or a piece that has been missing for many years that was known to exist but no one knew who had it
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Moderator
United States
16677 Posts |
Good job. I looked everywhere. swcoin.ecrater.com
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Pillar of the Community
United States
5318 Posts |
Quote:
These various dealers felt the coin to be an alteration so did not take the coin seriously after examination.  Interesting, because if you cannot prove a positive, then how can you be confident to prove a negative? Talk about a minor oversight. Wow...there's a logical process that could be improved. |
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Moderator
United States
16677 Posts |
Exactly KurtS, the collector obviously won big time here.  swcoin.ecrater.com
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Bedrock of the Community
United States
17884 Posts |
I can't believe they wondered over that piece for 7 years. The real hangup seemed o be everyone questioning whether or not the reeded edge was mint made or an alteration. I took one look at it an recognized it as the S-79 and those dies were only used on the S-79 so even if the edge was altered it was still the S-79. I would think most any of the copper specialist dealers could have told them it was real immediately. They probably wasted all that time showing it to dealers that DIDN'T know copper. There is no way this should have taken seven years to identify.
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Moderator
United States
16677 Posts |
Thanks Condor101, I thought that was unusual as well . Can't understand it. swcoin.ecrater.com
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Pillar of the Community
United States
2540 Posts |
There is still hope for the rest of us, Cherrypickers.
And this proves it.
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Pillar of the Community
United States
830 Posts |
Amazing. Talk about fools, any one of those "dealers" could have looked up the S-79 in a book. Sheesh.
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Pillar of the Community
Canada
1152 Posts |
This is a classic example of collector vs. dealer. Collector wins.
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Pillar of the Community
United States
5318 Posts |
Quote:
I took one look at it an recognized it as the S-79 and those dies were only used on the S-79 Oh man...right! Even a rank copper amateur like me could check my Sheldon book and figure that out in a few minutes. What gives--that's baffling. Actually, no...that's hilarious.  |
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Moderator
United States
16677 Posts |
Yea, and R7+ to boot!  swcoin.ecrater.com
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Replies: 44 / Views: 9,362 |
Posted 11/01/2008 6:06 pm
