1862 3 cent silver - Opinions

Garfield2022

I purchased this a few years ago and took it out of the lock box to show a friend that never knew the U.S. ever made this denomination of a coin. I decided to admire it with one more look using my magnifier and thought the 2 in the date had a faint one under it. I checked PCGS and XYZ (company) and both call it a 1862/1 variety. I was please to know that. Evidently when it was sent for grading the previous owner didn't notice it or request a variety check, Question Number 1. Do you think it would upgrade to a MS63? Question Number 2. If resubmitted just for a new holder and paid the variety check fee would they then put the 1862/1 on the holder or would your just send it in raw for grading and add the fee to variety check it? The attached photo doesn't seem to pick it up unless to download it and enlarge it a bit. I personally think it deserves better than MS62 but would appreciate other thoughts and opinions especially from those of you who send several coins in for grading. I've only done that one time and the results were mixed but I managed to get a MS66 on an 1896 Morgan bought raw and had 1 of 3 2021 CC Morgans come back as a MS70.

lermish

Whether it upgrades or not, I have no idea.

However, I would recommend you send it in for Regrade and note the variety...that gets your desired variety for the overdate and a potential grade upgrade with no chance of downgrade. I would definitely NOT crack it out and send raw.

Reconsideration with variety is perfectly fine also but once you are paying round trip postage and devoting the time, I think Regrade makes more sense as you have a higher chance of upgrade.

ricko

I do not think it will upgrade, however, @lermish has a good suggestion..... Cheers, RickO

Garfield2022

@lermish said:
Whether it upgrades or not, I have no idea.

However, I would recommend you send it in for Regrade and note the variety...that gets your desired variety for the overdate and a potential grade upgrade with no chance of downgrade. I would definitely NOT crack it out and send raw.

Reconsideration with variety is perfectly fine also but once you are paying round trip postage and devoting the time, I think Regrade makes more sense as you have a higher chance of upgrade.

Thanks for the suggestion I appreciate it.

Garfield2022

@ricko said:
I do not think it will upgrade, however, @lermish has a good suggestion..... Cheers, RickO

Thanks RickO.

Broadstruck

Sorry to say, but I think if you cracked it and resubmitted raw there's a chance it would come back as AU instead of MS.

Garfield2022

@Broadstruck said:
Sorry to say, but I think if you cracked it and resubmitted raw there's a chance it would come back as AU instead of MS.

YIKES! That would be sad! :-( I appreciate the input so definitely won't crack it out.

rhedden

The hairlines on the obverse are a reason not to crack it out. I hope it re-grades as an 1862/1 and you get a nice little bonus!

Garfield2022

@rhedden said:
The hairlines on the obverse are a reason not to crack it out. I hope it re-grades as an 1862/1 and you get a nice little bonus!

Yes! That would be nice. Thanks for the best wishes!

coinbuf

I don't follow this coin series, however when I checked recent auction prices there does not seem to be that much of a bump in price for the variety over a regular 1862. Given that this is a coin not heavily collected by large numbers of series collectors, I'm not sure I see the value in spending the money to have it regraded with the variety on the label. I personally would just note the overdate on the holder myself and use the funds to buy another coin.

But again I do not pay much attention to the series so there could be a bigger demand for this overdate than I see.

asheland

If the slab is in good shape, I’d probably just leave it be. Save the money and time.

Garfield2022

@coinbuf said:
I don't follow this coin series, however when I checked recent auction prices there does not seem to be that much of a bump in price for the variety over a regular 1862. Given that this is a coin not heavily collected by large numbers of series collectors, I'm not sure I see the value in spending the money to have it regraded with the variety on the label. I personally would just note the overdate on the holder myself and use the funds to buy another coin.

But again I do not pay much attention to the series so there could be a bigger demand for this overdate than

Thanks for the input that's something to consider.

Garfield2022

@asheland said:
If the slab is in good shape, I’d probably just leave it be. Save the money and time.

Thanks for the input that's something to consider.