How much over PCGS price guide would you pay for a Top Pop Large Cent Variety?
RLSnapper
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I am shopping for my birthday present and stumbled upon a nice Large Cent. It is the single Top Pop of a Newcomb Variety. I think it would be cool to have the finest known at PCGS of a coin. It is a 1 of 1. The coin is not advertised as such but is priced $450 over guide. It is CAC approved and looks great! To my friends here do you think that is fair? I would have to reach for this coin but you only turn 60 once! Thanks for your input. I would give more details but want to keep this one for myself. BTW...I am still going strong for the Holey Cent...different wallet for that one!
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How could anyone provide an informed opinion, based on that (lack of) information?
Depending upon the price range of the coin, “$450 over guide”, could be anywhere from a very small % premium over guide, to a very large one. Among other considerations are the populations and values in lower grades.
If you want the coin and you can get it at a price that’s acceptable to you, buy it. And if not, don’t.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I think most large cent variety collectors do so with raw coins. So if true, I think the top pop status is largely irrelevant to valuation. However, I think the CAC certification, especially on early copper, is the driver for pricing premiums. Without knowing more about the coin, it’s hard to offer an opinion on specific valuation.
"Got a flaming heart, can't get my fill"
@MFeld agreed. It's priced about 30% over guide.
I’ll echo the excellent second point. Most of my slabbed LCs don’t list a Newcomb or Sheldon number. In most cases, however, both the seller and buyer were fully aware of the applicable die variety. Page through the HA and GC listings and you’ll see how relatively uncommon it is for the die variety to be “formally” attributed, even for rarer examples.
Smitten with DBLCs.
Which price guide are you using? I would consider all of them. At least NGC, PCGS, & CAC. Also auction records can be sobering.
Picture?
It’s your 60th and I’m assuming this won’t affect you financially (birthday budget). If you think you can’t find/make another comparable one fairly soon, do the best you can to negotiate the price and enjoy the tar out of it.
If you can’t think of a way to make yourself happier with that money, go get it.
If it's something you really want and will cherish, then your budget is your limit. If you are going to resale, then don't stretch. If you are treating yourself (your words), and you believe you would really enjoy it, and it won't mess you up financially, I'd consider it! Only you can make that call.
Good luck whatever you choose, however if you buy it you MUST show it off to us!
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
Before you pay any premium, consider that many copper enthusiasts like to keep their treasured large cents raw, so they don't show up in population reports. In addition, many high grade large cents are not attributed by Newcomb variety when they are slabbed. This coin could actually be far below the finest known for the variety, for all you know.
At the end of the day, not a lot of people collect by Newcomb variety if the coin is dated after 1839 or so. If it's in the 1816-1839 range, there will be more interest in the die marriage and condition census.
I say that if you can justify the premium based on the appearance of the coin and the CAC sticker without considering the variety, then go for it. Otherwise, ask yourself, "what kind of buyer is going to refund my premium when it's time to sell the coin?"
The trouble is if he gives out too much information about the piece, someone else might scoop it up.
Newcombe varieties are not like the early dates. The population of coins is far higher, and number of pieces “still in the wild” (unattributed) is also higher, but much lower than it was years ago. There are also years where there are many known varieties, and the differences between them are minor. Therefore only the specialists will appreciate them.
Having the finest known of something is nice, but it’s not everything. I have a piece of two that fall into that category, but like the purchase you are considering, they are mostly die varieties, not date and/or mint mark combinations. That makes it more esoteric.
It depends on your budget and goals. I only have the rare varieties that I own because they fit into my collection for another reason. I have the finest known of a rare 1795 Overton half dollar variety because the piece is a Choice AU and it’s eye appeal really “Wowed me.” The finest known part only added to the price.
I know I have not given you a definitive answer, but I hope I gave you some things to consider.m
If you really like the coin, buy it. The money and decision are yours. Advice from those who will bear no responsibility for the consequences, and have no idea of your personal circumstances, is worth exactly what they charge. Make your own decision and live with it. Cheers, RickO
Have you considered trying to cherry-pick your own of this variety? Unless it’s also a Redbook variety, another may be hiding in plain sight, unattributed, in a comparable grade. Then scoop it up, get it reholdered with the attribution, you save $, and have a good story to tell.
I usually ask myself, if I pass this coin up, will I think of it later as a missed opportunity? If that is the case, then I would suggest reaching a little for a coin you truly want.
"Why waste time learning, when ignorance is instantaneous?"- Calvin and Hobbes
Why be anxious to pay over "price guide" for anything, let alone a Newcomb variety? Forget about the "top pop" bit. Many, many serious large cent collectors may have better examples in their collections of raw large cents.
Buy the coin or the holder continues.......
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I'm always curious what the population size for a "top POP" is for a specific coin/ variety...
Yes, there are a great many nice raw large cents in EAC collections, but the numbers are dropping. When the large collections are sold at auction, nearly all of the coins are slabbed these days. That's not to say that a very traditional new owner might crack them out, but if they do, chances are the coin is still in the certified population report.