| Author |
 Replies: 21 / Views: 2,603 |
|
Pillar of the Community
Germany
1849 Posts |
I recently came across this 1838-O Half Dime. This is a fairly scarce, first year of issue for the New Orleans mint with a reported mintage of just 70000 and an estimated 200 known. Demand for this coin is high. The listing described this coin as a VF+ with an edge nick. Based on the pictures in the listing and the description I decided to go ahead and buy it. What the postman delivered was a surprise, both negative and positive. First, the negative. The damage was, IMO, more extensive than an edge nick. It is more like a severe edge pinch affecting the planchet on both obverse and reverse, not just the edge. The coin is slightly out of flat as a consequence of this. The positive, and what ultimately convinced me to keep it is the fact the coin is in fact very attractive, with high details and a surprising amount of lustre still present, which my photos don't capture. Combine that with the fact it is quite scarce, I think It was a good decision to keep it and am happy to have it. The BIN price was 225 euros, I actually got it for a little less than that. I would be interested to hear your opinions. Would you have kept it? Thanks!     |
|
|
|
Pillar of the Community
United States
2003 Posts |
The coin looks to be in VF+ to XF condition except for the damage. You say you paid 225 Euros which is about $240 USD. Even as a details coin it would appear worth keeping. PCGS lists a G-4 specimen at $250. There is a considerable price swing for this coin from VF-25 at $1350 to XF-40 at $3000. Even if you half that for a details grade I think you did very well.
|
|
Bedrock of the Community
 United States
25004 Posts |
GERMANICVS, it is a beautiful coin excepting the rim damage. And as you probably know this coin was produced in the first year of operations of the New Orleans mint. I've been looking to add one to my collection.
Inordinately fascinated by bits of metal with strange markings and figures
|
|
Bedrock of the Community
United States
94367 Posts |
I would grade it EF-45 (Sheldon) but it's clearly a details coin, which I couldn't handle.
|
|
Bedrock of the Community
United States
12057 Posts |
Since it's already a details coin, it might be a good candidate for a repair attempt.
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 |
|
Pillar of the Community
United States
1788 Posts |
|
|
Bedrock of the Community
United States
94367 Posts |
Just doesn't seem like you, Germanicvs.
|
|
Pillar of the Community
United States
4415 Posts |
This coin's DEFINITELY a keeper says this old guy .... but consider that I love damaged coins, counterstamps, that is. Guess that my taste in coins defines me as well, huh, CoinFrog?  Great details and patina on this rarity and at a great price to boot! Edited by ExoGuy
02/08/2023 7:15 pm
|
|
Pillar of the Community
United States
8515 Posts |
Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
|
Pillar of the Community
United States
3848 Posts |
A keeper for sure and a good deal at that price. Paralyse said it may be good for a repair, and I think that is a great idea. Have to find someone to do the job, but there are a handful of master coin doctors out there.
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
|
Bedrock of the Community
United States
25004 Posts |
Personally, I would leave it as is and not have it "repaired". If sent to a TPG, it would get a details in either case. Not sure if the repairing would significantly add to the value, and there is always the chance that it could be botched. Inordinately fascinated by bits of metal with strange markings and figures
|
|
Valued Member
United States
110 Posts |
1838-Os are tough. It's one of the last ones I found for my set and I "settled" for a Vg. A vise, a couple of soft blocks of wood, and some elbow grease might make it less mangled if you are careful with it.
ElmerFlick
Edited by ElmerFlick
02/08/2023 10:13 pm
|
|
Bedrock of the Community
United States
94367 Posts |
Lots of tough stuff out there, surprised you went for a problem coin.
Edited by Coinfrog
02/08/2023 10:35 pm
|
|
Pillar of the Community
 Germany
1849 Posts |
Thank you, all, for your comments. I guess I have a 'thing' for 1838-O Half Dimes.....I collect primarily EAC's and early dimes, but the 1838-O H10C has really interested me ever since I started collecting US coins in the mid 80's. Similar to the fascination I have for the 1809 capped bust dime. Difficult to explain why - part of this is related to the fact both the 1838-O H10C and the 1809 dime are first years of issue, thus historical and relevant numismatically. Also, both are much in demand and scarce and difficult to find. 1838-O Half Dimes in grades better than VF are difficult to find, as some of you have mentioned. This also answers Coinfrogs' question as to why I decided to keep it (in spite of the obvious damage). When I saw the listing I thought it was unusual for such a high grade '38-O to be offered for such a low prices, and at my doorstep no less....The OP pictures (attached) did not show the extent of the damage so when it arrived I was at first disappointed, but also surprised at the high grade. All in all, I was inclined to keep it for the reasons outlined. A further price reduction from the seller made it all the more attractive. Who doesn't like "less-than-perfect" scarce or rare coins but at very low prices. I do!  Paralyse, jacrispies and ElmerFlick mention it may be possible to repair it by reducing the slight bend? That sounds interesting. I have never done that but is something to look into. Attached you will see the original listing pictures, as well as two other 1838-O Half Dimes in my collection. As I said, I REALLY like this issue...   Edited by GERMANICVS
02/09/2023 04:03 am
|
|
Pillar of the Community
Germany
1849 Posts |
Quote:
This coin's DEFINITELY a keeper says this old guy .... but consider that I love damaged coins, counterstamps, that is. Guess that my taste in coins defines me as well, huh, CoinFrog?
Great details and patina on this rarity and at a great price to boot! Thank you, ExoGuy. I agree. Quote:
The coin looks to be in VF+ to XF condition except for the damage. You say you paid 225 Euros which is about $240 USD. Even as a details coin it would appear worth keeping. PCGS lists a G-4 specimen at $250. There is a considerable price swing for this coin from VF-25 at $1350 to XF-40 at $3000. Even if you half that for a details grade I think you did very well. I think so too. I have seen what 38-O's sell for, even low grade and damaged coins and compared to those,this was a good deal. The details on the coin was the clincher for me. |
|
Pillar of the Community
United States
1303 Posts |
Nice addition to your collection, thanks for sharing.
|
| |
Replies: 21 / Views: 2,603 |
Posted 02/08/2023 11:01 am
