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How did I do? NEWP!

WalkerfanWalkerfan Posts: 8,952 ✭✭✭✭✭
edited November 25, 2022 1:17PM in U.S. Coin Forum

I just picked up an 1871 Seated Dollar in PCGS MS 62 for $3750. That is $500 over PCGS retail. It is actually PCGS MS 62+ retail price. The coin is really nice, though, IMHO. Better than a lot of 63s that I have seen. There is only one other time, in history, that one sold for that much....It was in 2005. Adjusted for inflation, that is $5725 in 2022 dollars. I couldn't get the coin out of my head, so I just had to do it. It is, supposedly, the third most common Seated Dollar but just TRY to find one. Most are likely in STRONG hands. Only 20 PCGS MS 62s have sold in the last 24 years and NONE since 2017 (5 Years ago). This coin is NOT a CAC coin BUT it is in an OGH and I could not find a past record of it ever being sold, so it is indeed FRESH. Do you like the coin? Was this a dumb or smart move, in your opinion?

“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

My Full Walker Registry Set (1916-1947)

https://www.ngccoin.com/registry/competitive-sets/16292/

Comments

  • seatedlib3991seatedlib3991 Posts: 496 ✭✭✭✭

    I love it. Out of my price range but glad it was in yours.

  • JBNJBN Posts: 1,799 ✭✭✭✭✭

    Nice dollar. The reverse is very strong - don't see any distractions.
    Obverse has a series of ticks on the arm, but the fields are quite nice.
    Lustrous.
    Great eye appeal.
    Congratulations.

  • coinbufcoinbuf Posts: 10,752 ✭✭✭✭✭

    Very flashy, congrats on the newp.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • batumibatumi Posts: 797 ✭✭✭✭

    Nice coin. I've been looking for something similar for a type coin-I don't really care much about a date-just nice for the grade.

  • Walkerguy21DWalkerguy21D Posts: 11,141 ✭✭✭✭✭

    Very nice; that’s a real 62+/63…..not a 58 that got a bump.

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  • CrustyCrusty Posts: 1,072 ✭✭✭✭✭

    My guess is this is from the hoard that was released in the 1960s. I agree with @JBN about the coin. Your making great progress. One coin at a time!

  • oih82w8oih82w8 Posts: 11,889 ✭✭✭✭✭

    Nice one. Better than the one I dont have.

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  • logger7logger7 Posts: 8,069 ✭✭✭✭✭

    If you can afford it and the wife, etc. doesn't give you a hassle on the purchase, it's a harmless choice.

    I had one in an old PCGS MS61 holder that Gary Adkins thought would be in higher demand if it were white and flashy like yours that looks like it came from the mint. But mine was too risky to dip, it was heavily toned.

  • VasantiVasanti Posts: 448 ✭✭✭✭

    @logger7 said:
    If you can afford it and the wife, etc. doesn't give you a hassle on the purchase, it's a harmless choice.

    I had one in an old PCGS MS61 holder that Gary Adkins thought would be in higher demand if it were white and flashy like yours that looks like it came from the mint. But mine was too risky to dip, it was heavily toned.

    Funny, I’ve been looking for one exactly like you describe. MS61/62 with lots of originality.

  • logger7logger7 Posts: 8,069 ✭✭✭✭✭

    @Vasanti said:

    @logger7 said:
    If you can afford it and the wife, etc. doesn't give you a hassle on the purchase, it's a harmless choice.

    I had one in an old PCGS MS61 holder that Gary Adkins thought would be in higher demand if it were white and flashy like yours that looks like it came from the mint. But mine was too risky to dip, it was heavily toned.

    Funny, I’ve been looking for one exactly like you describe. MS61/62 with lots of originality.

    Mine was picked up at an in state show from someone who was obviously looking to get rid of it. Old PCGS holder. Tried to sell it at high wholesale on ebay. No dice on that. Tried listing it on Coinplex, one inquiry and offer to buy it if in hand it was of interest. Gary said it was too much toned. When I got it back I sent it to PCGS under the Presidential review to get it conserved as an expert had suggested. I got a nice note from David Hall who considered it market acceptable. I sent it to GC where it sold if memory serves.

  • 291fifth291fifth Posts: 23,932 ✭✭✭✭✭

    Not a coin I would pay a premium to own. Too many small marks and rubs.

    All glory is fleeting.
  • VasantiVasanti Posts: 448 ✭✭✭✭


    My MS62 No-Motto I’m looking for a match for.

  • Batman23Batman23 Posts: 4,999 ✭✭✭✭✭

    It looks good. The reverse is very nice. The obverse has lots of tick marks but that is why it sits in a 62 holder and not higher. Lots of flash and luster.

  • winestevenwinesteven Posts: 4,040 ✭✭✭✭✭
    edited November 24, 2022 11:11PM

    Great coin, great pickup. In my opinion, it’s OK to “overpay “ a bit to get a tough coin with eye appeal that nice, especially in this market! (With a coin this nice in an OGH, and as tough as it is, I really don’t think you overpaid).

    Just a technical correction - when you mention the coin sold data over the past 20 years and since 2017, you really should add “sold via auction…..”. You really have no knowledge of sales via dealers over the internet or at shows.

    Regardless, great buy! Enjoy!

    Steve

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • spyglassdesignspyglassdesign Posts: 1,488 ✭✭✭✭✭

    It was only dumb if it was a business decision ie to flip, or you didn't really like it. But even then with as rare as you indicate this is, it still wouldn't necessarily be a bad investment.

    It's worth what one is willing to pay, and you paid what you were willing to spend. Value to you may be greater than the next guy. Price guides are just that... Guides. They aren't written in stone and values change regularly.

    I'd say you did very well, 'only' going over $500 over price guide to get a tough coin this nice that you really like. It is a nice coin. 💪👍 Congrats!

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @Walkerfan... That is a very coin and looks properly graded.... In hand, could go a tad higher. I think you did well, and you seem happy with it- so that is the important part. Cheers, RickO

  • I like it, hard to get a bargain price on a SLD. To find out how you did, submit it to CAC.

  • WalkerfanWalkerfan Posts: 8,952 ✭✭✭✭✭

    @dhikewhitney said:
    I like it, hard to get a bargain price on a SLD. To find out how you did, submit it to CAC.

    I think it will sticker. I saw one on a dealer’s website with a similar look, in a PCGS 63 slab, with a sticker but it had far more and far heavier field abrasions. The luster on this one is great in hand. There are a few contact marks on the devices but they are very light, IMHO. Might even get a gold bean. I don’t really care about stickers, though, if they’re already on the coin that I am purchasing...then great but, otherwise, not that important to me. If I ever sell it, then that will be the time to consider sending it in. Thank you to everyone for your thoughts, comments and insights.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • jonrunsjonruns Posts: 1,196 ✭✭✭✭✭

    I wish I liked the Obverse as much as I like the Reverse. Agree that it probably comes from the government hoard which was released in the early 1960s. Due to bag storage most were bagmarked.

  • ElcontadorElcontador Posts: 7,416 ✭✭✭✭✭

    Coin seems reasonably graded. From the image, the protected areas near some of the obverse stars, the coin surfaces seem flashier than the rest of the obverse. If so, this may indicate the coin was retoned. I don't have a problem with that, but JA might. I'd leave the coin as is. I am under the impression that CAC does not like retoned or dipped coins.

    Paying a reasonable premium for a coin that speaks to you makes sense to me (very few coins I see do this).

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  • BarberianBarberian Posts: 3,036 ✭✭✭✭✭

    @Elcontador said:
    I am under the impression that CAC does not like retoned or dipped coins.

    >

    That's not my impression. CAC may like originality, but they don't exclude dipped and retoned coins. Here's a dipped and retoned example they liked. It helps that it's borderline EF40 and, aside from one hit near the cap, is relatively mark free.

    3 rim nicks away from Good
  • WalkerfanWalkerfan Posts: 8,952 ✭✭✭✭✭

    Yes, CAC will definitely sticker a dipped coin as long as it still has good luster. There was a thread on this subject very recently.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • CatbertCatbert Posts: 6,593 ✭✭✭✭✭

    I am happy for you, but I prefer coins of this age (excluding Morgan’s) to not have bright white surfaces.

    "Got a flaming heart, can't get my fill"

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