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High Grade Indian Cents
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
A report from Long Beach showed
some recently graded
1901 ms 67+ red
1903 ms 67+ red
and (2) 1908 s ms 67 red
And the recently graded 1902 ms 68 red was sold
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And thats just the beginning. Check back next year on those populations.
WS
It was once explained to me that coin grading (increasing value aside) is evolving as the Post-1986 Professional Graders (all ex-coin dealers in the beginning) learn more through experience.
Perhaps it would have been more useful if the folks who ran the Post-1986 game were the most experienced in the first place.
The 1902 MS68RD is in a private collection and was not sold at Long Beach. It's presently in my possession for Photo Seal. I published a bit about its sale for $66K as a MS67RD in the last Longacre's Ledger. I also posted the link to the Heritage sale video in a different thread on this forum.
The collector who bought it at the auction did a "Stewart Blay bid*". He told me he couldn't watch the auction so he put a nuclear bid as a pre-bid. A dealer who is a well known crack-out king pushed the bid almost to the limit. He didn't get it and the collector was amazed (aghast, might be better) at what it sold to him for. He fells better now that it upgraded to a MS68RD.
*Stewart famously left a nuclear bid for his 1877 Indian cent when he bought it raw.
From the April Central States auction by Heritage:
1902 Indian Cent MS67RD
He didn’t fully pull a Stewart because he didn’t badmouth the coin here prior to the auction
I think its interesting how a copper coin can stay "red" for 117 years. Congrats to the owner!
At the top of the market is there a hesitancy to fork over the cash for newly slabbed RD examples?.....due to concern about color stability?
Rick - the collector who owns the
1902 has bigger balls the me.
I could leave a nuclear bid on an 1877 but not on a 1902
Trade Dollar Nut - I confers to bad mouthing coins consigned by dealers who are known for taking shots at collectors.
But you are guilty of raising your
Own bid to create false prices.
@STEWARTBLAYNUMIS What? Say it isn't so.
@SeattleSlammer said:
In "modern" times, I think there has been leniency for the number of spots allowed on high-grade "Red" copper and silver bullion coins.
Pfffft. Not my fault it took Laura so long to execute a nuclear strategy planned months in advance.
Nice deflection....it’s still bad form to badmouth a coin publicly that you intend all along to bid on. And our maximum bid was even higher.
Just curious about Nuclear Bidding... maybe I don't fully understand how it works. It is my understanding that a nuclear bid may in fact be higher than you would want to pay. How would that play into an effective strategy?
Our best estimate of what it would take to win the coin was $9M. So yes, our nuclear bid was higher that what we thought it would take to buy the coin. But it’s not higher than the total value received when you count the publicity.
Blow a million dollars for publicity?
I’ve blown more on less valuable items.
But technically, it was blow the possibility of a million dollars for for the publicity AND the possibility of saving money. Our top bid was $11M hammer for a coin that is a National Treasure. I wasn’t taking any chances on losing it
Taking shots Stewart? You have a very selective memory. The collectors I work with and have bought great coins over the years have done wonderfully well. There are streets named after you however...."ONE WAY"....
Back to the original topic... I do find that 117 year old copper coin that is still RED to be amazing...almost unbelievable unless kept in nitrogen...Cheers, RickO
DON'T MAKE ME STOP THIS CAR!
The thought of nitrogen filled slabs would be interesting. Or vacuum work work too. It is amazing how these coins have remained RED over the years.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Ricko, I have an 09 P IHC in 5 RD in an OGH.
"Seu cabra da peste,
"Sou Mangueira......."
Is it still full red?
Would love to see that coin in person. I had a P68R at one time and loved the look of it.
Slabs have only been in existence for the past 35 +/- years. So, these coins have not been protected by a slab for about 80 years. I do have a 1904 IHC that I have had for over 60 years and it graded 65 RD about three years ago. But I have never submitted a RAW RD IHC PR that was not graded .91 Questionable Color. BN always gets straight graded. Lots of money to be made making RD IHC's.
Only Stewart can tell if an IHC has original RD skin........
OINK
Yes, it is.
"Seu cabra da peste,
"Sou Mangueira......."
I think full red older cents that have not been messed with would have a dark brown color on the edge of the coin with nice red color on both sides... A dip or anything else would affect the whole coin, edge and all wouldn't it?
<<< And the recently graded 1902 ms 68 red was sold >>>
If this is the coin referred to..... as spectacular as that coin is IMO, I'm still not sure how an Indian cent can go 68 with those obverse feather tips? And did PCGS 'unofficially' agree to upgrade the coin prior to the Heritage auction mania?
Your hobby is supposed to be your therapy, not the reason you need it.
The owner of the Castle Collection
kept all his Indian Cents in a nitrogen container or some kind of
Air tight container. Rick Snow can elaborate more, because he live in Florida and kept the coins in Florida
The 1794 half cent mentioned in a previous thread has totally original color and is 225 years . It’s rare
is a truly fascinating study.
@OldIndianNutKase said: "Only Stewart can tell if an IHC has original RD skin........""
I wonder what his secret is.
What you are looking at is a small break in the original surface that stands out so much and looks different (also on cheek & eyebrow) because of the reflection of the light. Look at the sides of the date numerals. Same bright reflection. Nice coin.
that's a wicked nice 1902 ihc, I like