I agree with J.A. - "It’s nice to know there are still great coins out there. It gives us hope."

Any forum member ever hold an MS68 1863 $1 Gold Princess in their hand before?

What an incredible coin.

Family stunned at value of rare gold coin collection they've kept for 100 years
By James Cirrone For Dailymail.Com

Published: 15:27 EST, 4 November 2024

A family has learned the rare gold coins they held onto for over 100 years weren't worth $50,000 like they thought, but rather a staggering $2 million.

The 19th century collection, put together by historic coin collector Henry Chapman in 1899, was taken out from a Philadelphia bank vault earlier this year, where it had been safely stored for decades.

There were 51 Liberty Head and Indian Head gold dollar coins minted between 1849 and 1889, as well as eight US commemorative gold dollars made in the early 20th century.

The Philadelphia-area family who owned the set, now deemed 'The Henry Chapman Collection of $1 Gold,' thought it was worth $50,000 before they had it appraised.

Luis Martinez, founder and president of Matador Rare Coins, told CoinWorld that he was working with the owners, who were 'astonished' when they found out the real value of the collection: $2 million.

'When I shared the results with the owners, they were astonished and filled with disbelief. A collection they would have sold for about $50,000 could now potentially bring in well over seven figures at auction!' Martinez said.

The coins were graded and certified by the Professional Coin Grading Service after Martinez inspected them. The grading results, he said, exceeded his expectations and reached 'the finest known tier.'

'When I received the coins, I carefully reviewed each example. Housed in the original envelopes from Henry Chapman’s shop in Philadelphia, a number of the coins carried exuberant eye appeal,' he said. 'I was truly in awe as I reviewed each coin one at a time. I knew then that this collection could truly be a national treasure.'

The Professional Coin Grading Service agreed with Martinez's assessment.

'This historic collection boasts not only magnificent rarities and grades, but also hails from the cabinets of renowned collector Henry Chapman. Preserving the coins themselves and their history is an honor,' said PCGS President Stephanie Sabin.

Martinez explained that the United States began making $1 gold pieces in 1849, just one year after California's gold rush sent speculators scrambling westward to strike it rich.

'A little smaller than a modern US dime, the gold dollars were struck over the years with three different designs,' he said.

The first kind, Liberty Head (also known as the Coronet design), were manufactured from 1849 to 1856.

Small Indian Head, also known as Indian Princess, were made from 1854 to 1856, and the Indian Princess Large Head type were minted from 1856 to 1889.

Some of the notable commemorative coins in the collection included the McKinley version of the 1903 Louisiana Purchase Exposition Gold Dollar and the Lewis and Clark Exposition Gold Dollar.

John Albanese, founder of Certified Acceptance Corp., which also looked at the coins, said the collection gave him hope.

'I’ve been around the numismatic block a few times since the 1970s and thought we’ve seen probably everything there is to see in great collections,' Albanese said. 'I almost fell off the chair when these coins came in. It’s nice to know there are still great coins out there. It gives us hope.'

DailyMail.com Link

I recently picked up this super bad clash on this 3-Cent Nickel. Show us your really badly clashed coins!

A common date, but I couldn’t resist, cause the price was right

Oh man, Cracks and Clashes both ... give me the C coins ... EVERYDAY!!

Cool Trick @sedulous

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One of my favorites

@Mark said:
I've always liked "mercury" dimes and several years ago regularly collected them for a couple of years before I switched to commemoratives. But I was drawn back by this dime. It's graded MS 65FB and, while I do not think it's the prettiest of coins, nonetheless I enjoy it.

Nice vertical neckline die crack.

@johnny010 said:

@ProofCollection said:

@johnny010 said:

@ProofCollection said:

@johnny010 said:

@ProofCollection said:

@johnny010 said:
As I’ve built my Morgan set a few coins did not CAC. No matter how hard I’ve tried to justify the coins “should have stickered”, each time I’ve paid more attention and re-louped / learned and realized “I was wrong”.

Now I fully understand buying a coin two hundred plus years ago due to limited availability but most coins if you’re honest with yourself….. have been cleaned and retoned, aren’t suited for their grades etc

I’m sure there are good reasons and I dont expect all positive replies but how many of you have come to the same realization that a non-CAC coin is worth less and is an inferior coin for the grade award.

I guess I would flip the question and ask, why would you buy only CAC stickered coins? I get that for the unconfident or beginner collector having a second opinion on the grade is reassuring and valuable. But otherwise, why arbitrarily dismiss/ignore/eschew coins that fall into the "C" spectrum? There are likely coins out there where the top pop is something like MS68 pop 1, but that coin is barely an MS68. Why would you not want to own it just because it won't qualify for a sticker? If you want the top best specimen, you'll have to accept the one without a sticker.

Ultra rare, no issues to own without. Dealers typically buy back of bid so a coin that failed CAC likely sells for the same price to a dealer as one that has not been to CAC. Now do you see it?

Furthermore, I’ve used CAC grading in my Morgan’s to learn, and now I can clearly see in person on blast white coins which will and will not pass with a high degree of confidence. I do not want to pay 65 money for a 65 C coin that should really be in a 64 holder. It’s just math.

Maybe I missed some of the conversation on this thread, but the question was binary, would you buy a non-CAC coin (yes or no)? Not, 'would you buy a non-CAC coin for CAC money?' Clearly the price guides are just guides. but for the most part I assume that the posted price for coins that trade regularly is the price for a B coin which is also CAC worthy although CAC stickered coins do tend to get an additional premium. An A coin probably should be priced above guide and a C coin or a coin with issues would be pried below guide. No rocket science here.

The philosophy I disagree with is those collectors will not buy the 65 "C" coin with no sticker and no other surface or quality issues simply for the lack of a sticker even if priced accordingly and even if it is nicer than the 64 CAC in the case right next to it

Coin: dealer acquired price $200
Coin: dealer sales price $225
Coin: did not pass CAC = not solid for the grade = downgrade one point = bad purchase
Coin: passes CAC worth $250

Spread keeps getting worse for non-cac coin owners, not better.

Agree not rocket science.

You left a few details out like guide price, but "Not solid for the grade" does not mean improperly graded. JA has made that very clear. Why does that equal to "downgrade one point" if PCGS got it right?
And if you're saying a non-CAC coin is a bad purchase, why'd you start the thread if you already had the answer?

When you make a purchase do you consider price? I do and I’m sure most people here do, so you definitely have to infer a few underlying thoughts.

My post is to understand why you’d knowingly make a decision to buy an overgraded coin intentionally if you know it did not pass CAC. As almost everyone agrees, the market has adopted CAC. Maybe you can explain that or maybe this topic gives way for new thinking.

And my question is why you insist a coin is overgraded if it doesn't have a sticker? Is the CAC FAQ outdated? "He" (I assume JA) had to back off of that idea but he didn't change his website? Where do you see that he "backed off of the idea?" He's explained his criteria ad nauseum, this has not changed.
https://www.cacgrading.com/doc/why-smart-watch-is-important/

Adding**
Yes he had to back off that idea, but it’s still relevant. Using 65 as an example, just call it a 64+ otherwise it’s been cleaned or has some other issue. If you keep a 65 low grade coin chances are you overpaid for what you received and thus my question of why?

Why do you ASSume I or any experienced collector overpay for a "C" coin? Like I said above, you pay over guide for exceptional coins. At guide for decent coins, and below guide for below average stuff. I'll take a 65 C over a 64 A coin any day if priced appropriately. the 65C by definition is a better coin.

@jmlanzaf said:

@johnny010 said:

@ProofCollection said:

@johnny010 said:
As I’ve built my Morgan set a few coins did not CAC. No matter how hard I’ve tried to justify the coins “should have stickered”, each time I’ve paid more attention and re-louped / learned and realized “I was wrong”.

Now I fully understand buying a coin two hundred plus years ago due to limited availability but most coins if you’re honest with yourself….. have been cleaned and retoned, aren’t suited for their grades etc

I’m sure there are good reasons and I dont expect all positive replies but how many of you have come to the same realization that a non-CAC coin is worth less and is an inferior coin for the grade award.

I guess I would flip the question and ask, why would you buy only CAC stickered coins? I get that for the unconfident or beginner collector having a second opinion on the grade is reassuring and valuable. But otherwise, why arbitrarily dismiss/ignore/eschew coins that fall into the "C" spectrum? There are likely coins out there where the top pop is something like MS68 pop 1, but that coin is barely an MS68. Why would you not want to own it just because it won't qualify for a sticker? If you want the top best specimen, you'll have to accept the one without a sticker.

Ultra rare, no issues to own without. Dealers typically buy back of bid so a coin that failed CAC likely sells for the same price to a dealer as one that has not been to CAC. Now do you see it?

Furthermore, I’ve used CAC grading in my Morgan’s to learn, and now I can clearly see in person on blast white coins which will and will not pass with a high degree of confidence. I do not want to pay 65 money for a 65 C coin that should really be in a 64 holder. It’s just math.

And that's why the question has no meaning without the price. What if the 65 no CAC is selling for 64 money while the 65 CAC. Is selling for 66 money?

And aesthetics matter too. A common date 62 monster toned Morgan in a 64 holder will always bring more than a 65 C coin or even a 65A coin even without a sticker. Is the buyer an idiot for buying a sticker less attractive coin with a fantasy label grade?

I think some of you have been drinking Laura’s Kool-Aid far too much. Don’t get me wrong; CAC offers a useful service but it is not the end all/be all of numismatics.