Best Cherrypick of the Year (so far) - 1796 Draped Bust Cent + bonus coin
Omegaraptor
Posts: 541 ✭✭✭✭✭
Was scrolling through ebay large cents and saw this one, which the seller called 1798. Immediately saved and remembered when it was ending. Placed a high bid and was floored when this finished at just $36 - I thought it would go way higher.
Should be obvious from the reverse that this isn’t a 1798, and the date should be decently clear as well that this isn’t a 1798. Indeed it is a 1796, Rev 94 S-106, an R-4+ variety. It’s a nice coin too! Sure the obverse might have a few too many hits for the grade but it’s about as nice of a planchet as you can get with the crappy Coltman blanks the Mint was using at that time (note a small amount of planchet roughness in the fields).
Most likely my best cherrypick of the year! Any early copper collector knows how tough the 1796 Draped Bust cents are, and I’ve talked about them before. I started 2022 with zero 1796 cents, and now I have one 96 Cap and THREE 96 Busts!
But as far as 1798s go - I picked this one up a couple days later on a BIN for $40 + priority mail shipping:
This is an S-182, R-4 with what looks like VG sharpness that does not show fully in pics. Sorry these are the best pics I could get, my lamp burned out and I need to get me a new one. You know the main coin is good when this is the “bonus coin”! It is a very, truly nice 1798 cent though, and although I think I may sell it, I am not exactly excited about the idea of parting with it.
Hope you enjoy these two very nice Large Cents.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
Comments
Very nice acquisitions.... Old copper - those which start with 17, are great finds. Cheers, RickO
nice finds.
the time, effort and education that comes with turning up stuff like this is something i do appreciate and of the low pop of forum members that appreciate coins in these conditions, i count myself amongst them.
i like coins like these because it is reality. this is what they were meant to do, essentially. get beat up, corrode, get scratched, banged up etc but of course values have to be in-line with condition, rarity, popularity etc.
the excitement and realization of the time, effort, education put forth to produce these types of results really hits home when it works out. glad they made your day/week etc brighter.
Let me see. How about this? I'm pretty sure it's a 1916 matte proof diagonstics match.
45 buy it now ebay...
Socal 310
If you have your own coin, please make a new thread rather than posting in an unrelated thread. I don’t think the rims look quite square enough but I am not too experienced with MPL Lincolns. 1916 Lincolns almost always come very very well struck as business strikes.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
This is exactly part of the magic with early American copper. For some reason I am partial to the cents of 1796. I think it’s a combination of the Mint still being in its infancy and having large variation between dies, the large number of die varieties, and the challenge of completing the variety set of the year, all while still being very cherrypickable. The scarcity of the 1796 Draped Bust type cents makes it that much more rewarding when you acquire one, IMO, but on the other hand something about holding a Liberty Cap cent is just magical.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
Is the 1796 cent worth about $100? Guess I’m a bit confused as to the value, wondering whether this is that much of a deal at $36?
I believe this one could bring around $250-300 to the right collector. An S-106 with a slightly higher sharpness grade but corroded reverse sold on Heritage not too long ago for $264.
There are about 80-90 known of this variety in particular but all 1796 Draped Bust cents are scarce for sure. Next time you go to a coin show, try finding one of any variety outside of an EAC dealer's table (you probably won't).
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
and the crux, if you try and get one from an EAC dealer, you're most likely gonna pay up for it. no $36 dollar deals except the dealer so chooses. lol
Nothing wrong here 🙂
Next question is what would be the best venue to sell this 1796 cent now? How much approximately would the EAC dealer offer for a coin like this if it’s worth $250? I can’t imagine it’s worth sinking money into slabbing fees for a details coin like this. This is not my series, so I’m just trying to understand where you take a raw, low grade, details coin.
Early copper collectors... tend to dislike slabs. This is really personal preference and varies from collector to collector, but it's not uncommon at EAC auctions, shows, etc to have four-figure coins sold raw or "ex-PCGS", "ex-NGC". TPG grading on early large cents is a crapshoot, and simply put, almost all of them have problems of some kind (the lucky few that do not generally go for way over book). In addition being able to hold these pieces of American history in your hand is a big thing in early US collecting - if the coin is already in low grade, you're (probably) not going to lower the grade any further by holding it.
Ebay and online B/S/T are often used to sell from collector to collector, but there are EAC auctions for high level stuff as well.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
to add a bit to omegaraptor's post above. a coin like this just as-is doesn't have as much appeal, except to someone willing to untangle the whole thing about authenticity, date, marriage etc for the condition and that knowledge/experience does make it a bit more saleable because the buyer already has the same thing (essentially) that a tpg can offer and that does expand the amount of venues the item can be sold at.
i think it would make a wonderful booth/case coin at a show small or large to someone hunting large cents but having a little bit of a reputation for having such coins would probably be the best selling point. the buyers would know you know your stuff and have some neat stuff available.
Neat find and nice score!
I will add though that the market is very thin for better Sheldon varieties now.
I had a pair of R5s (a 95 and a 96 bust) in relatively decent condition. After shopping both around at EAC dealers at major shows, I got slightly more than my purchase prices by trading them in towards something I wanted. One of the majors, who wouldn’t even make an offer, said to put them in the annual EAC auction and hope for the best.