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 Replies: 30 / Views: 3,553 |
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New Member
 United States
13 Posts |
Just pulled the Indian out to take a picture of the reverse and this is what I found. http://i156.photobucket.com/albums/...IMG_0130.jpgI had never looked at the reverse. It was in a sleeve with a piece of paper behind it. The paper said 1877 Indian Head Rare. Then below that it said L reverse. I didn't think anything of it. Do you think it is fake? |
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Valued Member
United States
371 Posts |
It could be that the reverse was made into a token of some sort.
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Pillar of the Community
United States
763 Posts |
I'm guessing it is a real 1877 cent made into a love token. It's a shame a key date was used for that.
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New Member
United States
13 Posts |
If that is what they did does that make it worthless?  |
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Rest in Peace
United States
9104 Posts |
What (always) scares me:
Did you buy from MIL, or SIL?
Problem doubles if SIL is a minor.
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Rest in Peace
United States
9104 Posts |
Love tokens with similar fancy engraving are commonly made on Seated dimes, but I've seen them on everything but $4 gold pieces. Odds are the jeweler was handed a shiny new 1877 IHC and paid to engrave it, neither party knowing it was rare. I've seen an elongated svdb, too. Value? On a common date circulated coin, a LT is worth more than the coin, $4-10 retail when the Seated dime was worth $2. Unfortunately, when on a rare coin, the same 2-5 times doesn't work. The IHC collector won't pay $1000 (much less $2000-5000) for a damaged coin, and the LT collector collects by letter combo, so it's still a $10 coin to him. Simply because it's so unusual, it should bring top dollar, but more than $100 would surprise me. |
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New Member
United States
13 Posts |
"What (always) scares me:
Did you buy from MIL, or SIL?
Problem doubles if SIL is a minor."
Umm....What?
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Rest in Peace
United States
9104 Posts |
While we'd all like to think deals can still be done on a handshake, reality says that coins get stolen.
Ask yourself why someone would wait for X period of time until he meets someone at work, so he can sell a bunch of coins for 20-50% less than typical buying prices; rather than having researched value a bit and sold them to a dealer once MIL asked his help selling them?
Buying direct from the owner helps prevent this, also minors cannot legally contract, meaning he can void the deal at any time.
$8000 is a chunk of change, I'm just suggesting caution.
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New Member
United States
13 Posts |
Ohh I wasn't getting what the MIL and SIL meant. As far as the waiting to sell part MIL didn't think the coins where worth that much. SIL is not a minor (he's 62) and I have meet MIL and we all went to a coin shop together the guy offered 7k for the coins. He didn't even look at the box the Indian was in.
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Bedrock of the Community
United States
10045 Posts |
Wow...that reverse on the 1877 is a real surprise. To my eyes, it appears to be contemporary (to 1877) engraving work. The discoloration on the obverse could be remnants of a soldering a pin? In any case,  with Biggfredd, the collector value is much less now.  |
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Pillar of the Community
United States
3283 Posts |
Ouch, big bummer on the 1877 IHC |
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New Member
United States
13 Posts |
I took it to a local coin shop. The guy said the same thing real Indian made into a love token. He offered me $100 cash or $150 towards trade. Said he would have gave me $400 if it wasn't altered. If it wasn't I wouldn't even think of selling it. Now I don't know what I'm going to do.
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Bedrock of the Community
United States
10045 Posts |
If your coin was undamaged, I'd think it would be at least VF20, which the Red Book lists at $2000. So it's possible he's lowballing his offer on your 1877 love token too. I would ask around; there might be better collector interest on such a rare love token. Edited by DVCollector
07/25/2011 9:13 pm
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New Member
United States
13 Posts |
Thanks! Before seeing your post I had decided to sell it to him. Now I am going to check around some.
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Rest in Peace
United States
9104 Posts |
Quote:
So it's possible he's lowballing his offer on your 1877 love token too Having seen thousands of LT and sold a few dozen, my $100 max guess is based on at least some experience. Not knocking the dealer, but unless he has at least a passing knowledge of love tokens, you might as well have asked your barber. The only real difference is the dealer is more likely to have the $100 to buy it. None of this gets you any closer to a value. The only thing that will do that when you're dealing with such an unusual item is put it up for auction (preferentially ebay). If it were mine, I'd look into restoration first, but that might add another $30-50 to its cost. |
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Replies: 30 / Views: 3,553 |
First Page
Posted 07/24/2011 5:49 pm
