Advice on Buying Early Dollars

Wahoo554

I’m interested in adding a flowing hair and/or a 18th century draped bust dollar to my collection. G to VF for the flowing hair and VF to XF for the draped bust. I’ve reviewed a ton of auction photos for these items and have a decent sense for what I think appeals to me visually, but feel I have a good bit to learn before making a purchase. Would appreciate any general advice on what to look for when selecting an early dollar, what to avoid, etc. Also, if you are aware of any good online resources or printed publications that provide useful education on the subject I’m all ears. Thanks.

Regulated

Be very picky about originality and eye appeal. Early dollars - at least in my experience - are one of the areas where you will see a mind boggling range of quality in straight graded holders.

Coins in lower grades SHOULD have deep toning - these are 200+ years old and have been used/exposed to the elements. That doesn't mean that you should buy an ugly coin, but anything of that age ought to have character.

Another thing to be aware of is that coins of this era often get under graded due to strike, so you do see coins in VF holders that have VF details, but have XF or better surfaces. I've always liked seeing a little luster on coins in VF holders, and if you take your time, you may find one (or several)...

Regulated

Also, shoot for a F/VF on the Flowing Hair - the price differential doesn't really justify the difference in quality on the lower graded pieces.

291fifth

Stick to coins slabbed by the two top TPGs only. Forget about raw coins ... there are too many counterfeits out there.

Wahoo554

@Regulated said:
Be very picky about originality and eye appeal. Early dollars - at least in my experience - are one of the areas where you will see a mind boggling range of quality in straight graded holders.

Coins in lower grades SHOULD have deep toning - these are 200+ years old and have been used/exposed to the elements. That doesn't mean that you should buy an ugly coin, but anything of that age ought to have character.

Another thing to be aware of is that coins of this era often get under graded due to strike, so you do see coins in VF holders that have VF details, but have XF or better surfaces. I've always liked seeing a little luster on coins in VF holders, and if you take your time, you may find one (or several)...

Thanks for the advice. Very helpful. It’s tough for me to gauge what constitutes originality other than dark toning. I don’t like examples that are so dark that you can’t readily make out the devices in hand. I like dark fields that contrast nicely with lighter devices. The following is an example of toning from a VG 10 CAC example that I find attractive. If you or anybody would like to attach photos of the type of quality I should look for that’d be helpful.

DollarAfterDollar

These have kinda fallen out of favor. A common date coin in the grade you're considering should be cheaper than Grey Sheet quote.

EastonCollection

Avoid any Bust dollar with damage including those that have been cleaned. Look for original ones and seek the advise of a dealer that specializes in Bust dollars.

Baley

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messydesk

Buy wholesome.

ricko

Examples such as @messydesk has posted are very desirable... That 1799 coin is gorgeous... Cheers, RickO

1630Boston

Insider2

@291fifth said: "Stick to coins slabbed by the two top TPGs only."

Excellent advice.

@291fifth said: "Forget about raw coins …** there are too many counterfeits out there.**"

Nonsense! Unless we add all the magnetic; low silver; non-silver; crude tourist crap; 1804's; etc. that should not fool any knowledgeable coin collector who takes the time to study a few genuine coins in slabs. There are a few very well made counterfeits that have been published. The average dealer/collector should not be embarrassed if they miss one of these. I've been trying to pry one loose from one dealer for my counterfeit teaching set. Unfortunately, all the folks who bought them as genuine are buried in them.

MikeInFL

My advice: Find an experienced collector (or three) and have them mentor you. Don't buy any coins for the first 6 months of your apprenticeship.

Mdcoincollector2003

Buy a slabbed pcgs, ngc, or anacs if you have your mind set on a raw one buy from a good dealer in person.

BustDMs

@Baley said:



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Pay attention to these coins or pay too much for your purchase.

jonruns

I really like that 1795!!!

lkenefic

@Baley said:



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Gorgeous! This is what 220+yo silver dollars look like!!

skier07

I’ll go first with this. If I was buying my first early dollar coin I’d probably only buy a CAC one.

Wahoo554

Thanks to all for your helpful advice. Sounds like the key takeaways are to be patient, prioritize originality and eye appeal and to seek expert assistance as there are many pitfalls for the unwary. I also appreciate all the pictures. Gives me a good idea for the type of look I should seek.

Baley

Thanks guys!
Now If I could just find a matching 1797 in F15 or VF20, I'd be all set.

asheland

I would definitely wait for a slabbed and very crusty and original example!