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 Replies: 9 / Views: 1,268 |
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New Member
United States
7 Posts |
Hello everyone, I have an opportunity to pick up a 3 cent silver penny from 1853. It's supposedly in VG condition, but estate sale grades are hardly accurate when they aren't formally graded. It could be G or even F. I don't have a good picture at the moment, and I'll be on the spot to buy or pass when I see it because it's an estate auction. I'll be able to get a better idea of condition once I've seen it though. I've seen pretty wide valuations for these. Some lows are as low as $5 for a damaged one with a hole drilled through it and many in the range of ~$20-40. However, I've noticed ebay shows some for sale pretty cheap lately. Does anyone have any advice or insight here? I'm thinking it'd be safe to bid up to $10 even if it's G as long as it isn't outright damaged, but I'd love thoughts from others as this isn't a coin I'd ordinarily pounce on. |
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Pillar of the Community
United States
1427 Posts |
My Red Book suggest that in g4 it should be in the ball park of $33, if it's is holed or in AG condition I would buy it for no less than ten |
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Pillar of the Community
 United States
8938 Posts |
If you care, here are my 2 cents, or 3 cents in this case.
With 3 cent silvers if you want a generic type coin target a Type 3 from 1858-1862. Look for one in VF-30 - EF-40 condition as it's the best bang for your buck on average. If you want a nicer example, ignore AU and go directly to MS. AU examples often have poorer eye appeal then nicely circulated examples and have issues of their own. MS is worth the money if you can spare it. Don't settle for anything under VF-30 though as they don't look all that nice and don't hold value well at all.
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Bedrock of the Community
United States
17884 Posts |
You are asking for a price estimate for a coin in unknown grade and unknown whether it is damaged or not. No accurate price estimate could possibly be given.
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Bedrock of the Community
United States
94367 Posts |
Almost impossible to help without pics.
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Moderator
 United States
187876 Posts |
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Pillar of the Community
United States
2335 Posts |
I noticed that the coin is at an upcoming estate auction. I'm semi-retired & buy/resell items purchased at estate sales, thrift stores, etc. as a part time job. It's been my experience that coins at estate auctions almost always are bid up to at least twice their actual value by people that apparently don't know any better.
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Pillar of the Community
United States
646 Posts |
Blue Book is $30 at F-15. I picked up a 1853 on ebay in F-15 with a slight touch of ED (which cleaned up with some acetone and Verdi-Care) for $16.50. |
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Pillar of the Community
United States
992 Posts |
I'd also say that coins are overpriced in general at estate sales. Although I did get lucky one time and picked up 2 84-CC GSA morgans for $40 each  |
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New Member
 United States
7 Posts |
Thank you everyone for your insight. I ended up participating in the auction remotely, but the picture on the lot was awful and it was hard to assess quality. It looked like part of it had been cleaned harshly a decade ago. Ultimately, I wasn't willing to go above $10 for a coin where I really couldn't see half of it on the obverse clearly. It ended up selling for $11. I don't get swept up in auction frenzy so I can live with that.
Your insights really did help and I'm thankful.
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Replies: 9 / Views: 1,268 |
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Posted 06/10/2020 01:49 am
