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 Replies: 14 / Views: 1,717 |
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Pillar of the Community
United States
8904 Posts |
Check out the reverse, particularly! OUCH!  [eBayItem]180445298350[/eBayItem] Edited by Moe145
12/17/2009 4:29 pm
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Valued Member
United States
168 Posts |
That looks terrible... but why has it been bid up to nearly 300 dollars?  |
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Rest in Peace
United States
5375 Posts |
Extremely rare date, I think.
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Pillar of the Community
United States
2797 Posts |
Quote:
Extremely rare date, I think. Yup! The 1851 and 1852 are two of the key dates to the very large series (also 55-S, 70-CC, 74-CC, 78-S and the varieties). But that coin in that condition is way overbid at this point. |
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Pillar of the Community
United States
3234 Posts |
A coin like that essentially has zero value to me. In my opinion, it's pointless to add a piece of junk like this to a collection, unless you like eyesores. I don't care how rare the coin is. If I can't show someone the coin and not be embarrassed about its condition, it ain't worth owning it at any price.
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Valued Member
United States
199 Posts |
 brewzz |
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Pillar of the Community
United States
1283 Posts |
We've all seen coins labeled, "Improperly Cleaned." This coin breaks new ground with, "Improperly Whizzed"
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Pillar of the Community
United States
1691 Posts |
Looks like "BUFFY" the vampire got a hold of it!
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Valued Member
United States
436 Posts |
Someone should go to jail for doing that to such a beautiful coin!  |
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Valued Member
United States
124 Posts |
Yeah, the 1851 has a minatage if 200+k, but even with the key date, this coin isn't worth what is being bid. It looks like someone took steel wool to it |
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Rest in Peace
United States
5375 Posts |
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Moderator
 United States
23731 Posts |
Terrible, a rare date coin ruined.
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Pillar of the Community
United States
6384 Posts |
I wonder what the story is with the high prices for the 1850, 1851, and 1852 Philly half dollars. True, the mintages are relatively low but is that the whole reason? Perhaps these were extensively melted or exported. The US Mint did significantly reduce the weight of the coins in 1853 so probably some of the earlier coins were melted at a profit.
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Pillar of the Community
United States
2797 Posts |
Quote:
I wonder what the story is with the high prices for the 1850, 1851, and 1852 Philly half dollars. True, the mintages are relatively low but is that the whole reason? Perhaps these were extensively melted or exported. The US Mint did significantly reduce the weight of the coins in 1853 so probably some of the earlier coins were melted at a profit.
That's exactly how it happened. Survivorship is very low for these dates. They contained more value in silver than face value ... many were smelted for the silver content. Silver content was adjusted (lowered) with the 1853 arrows and rays half dollar. The arrows at the date were placed there to indicate the adjusted silver content. |
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Pillar of the Community
United States
6384 Posts |
Sounds reasonable, SeatedNut, but I wonder why the New Orleans coins from 1850 and 1851 escaped the same fate. Did their higher mintages mean that their populations could absorb the loss from melting and still leave enough survivors to keep collector prices down? Did their location and distribution play a role? If they were quickly dispersed into circulation it would have been harder to round up the large numbers that I presume you would need in order to economically melt them down for silver profit. I dunno, stuff like this makes me scratch my head! |
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Replies: 14 / Views: 1,717 |
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Posted 12/17/2009 4:41 pm
