1832 Bust Half

A coin is worth whatever you wish to spend on it. If you like the coin, and can afford it, and have decided that that is what you want to spend that $300 on, then buy it, enjoy it and hopefully pass on the joy at sometime.

It seems today that the fun and joy is mostly gone from coin collecting. I think a lot of coin collectors today are coin investors, not collectors. They see their coins as commodities that are to be traded amongst other investors in order to maximize their profit. I collect coins as a hobby because it brings me pleasure. I enjoy the artwork of coins past, and I collect coins to appeal to my aesthetic and rarely think about value. I think about value when I'm purchasing because I only spend what I can afford and from money that I have specifically set aside for coin purchases.

When it comes to buying coins, particularly those above XF, I prefer doing that at larger coin shows. Granted that Heritage does a great job with their pics, shows offer a distinct advantage for assessing eye-appeal and and comparison shopping, methinks.

High grade Bust Halves are a common commodity; especially, those from the 1830's. Also, there's the often seen unevenness of strike. Then too, I've seen many an evenly struck, evenly worn XF that possessed better eye-appeal than slabbed AU's. With a low to mid-50's, AU specimen, one's eye is more easily drawn to the high spots that show wear, like the cheek and the wings. An evenly worn and struck XF+ evinces lesser contrast in wear spots at a lower cost. Of course, this speaks to personal taste ... Just something to consider, mind you.

If one pays say $400 for a $300 coin (perceived market value), I doubt that he's getting ripped as you say. If I like the coin and can afford it, I'd not mind paying above retail. On the other hand, if one buys a coin that he'll likely improve upon in the not-too-distant future, it might better be at a price that will allow him to recoup his expense.

Regarding this specific coin, it's one that can definitely be improved upon; this, despite its eye-appeal. To me, there's always the thrill of the hunt. If one is seeking a rare variety that could elude discovery for years, it's best to buy the first one that's encountered. Such is not the case with this coin ... So, happy hunting!

Thanks ExoGuy - those are some good points. And you're right - I've got a show coming up this weekend, so perhaps I should look for the reeded edge half I'm missing there. Will have lots of side by side comparisons to make. That's easier - although the lighting tends to be bad there.

And like you said "perceived market value".. I guess all prices are for the common coin in that grade.. if the coin has a better look the grade, the real value would be higher. So I guess I should be okay with going over for the right coin..

It could also be a scarcer Overton variety.

It is O-116 (R-3), and a rather sorry example of it as well.... Notice how the stripes and crossbars on the eagle's shield are virtually non existent...the design is flat all over this thing.....very little detail..... this is probably the ugliest CBH I have ever seen (and I am not joking).

Glad I didnt go over $300 on it! I guess this goes to prove that you cant trust the slab, and always have to know enough about grading it yourself before purchasing. Thanks for the info on this guys -- I learned a lot.

By the way - you mentioned it's probably the ugliest you have seen.. Am I wrong in thinking the lack of toning is nice here? Or does that strictly vary from person to person (obviously it doest a little since I thought it was nice).. Or was it the wear/strike that makes you feel it's ugly?

Still trying to learn as much as I can before buying too much.. it's hard though.. my fingers want to feel new coins in my hands :)