1805 Half Dime High Grade So Rare and Underpriced
ScarsdaleCoin
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Watching this video and realize you really cant find a AU Half Dime anywhere...
It's truly a really rare and undervalued coin... rumor is that a AU53 surfaced and ANA show that was a dealers putaway coin for past 25 years.... undergraded and original and heading to GC for auction... CANT WAIT
Jon Lerner - Scarsdale Coin - www.CoinHelp.com
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The final year of issue for the Draped Bust design type and a single die marriage issue, the 1805 is also the last half dime produced by the United States Mint prior to 1829. The generally accepted mintage for this issue is 15,600 pieces, a total that was quickly reduced by commercial use. No more than 2% of the mintage is thought to have survived to the present time. Over a long period of years, the greatest of American collections have rarely had an impressive example of the 1805 half dime, for in addition to its absolute scarcity, it is a classic rarity in high grades. Apart from isolated grading events in MS-62 and MS-64 (both at PCGS), as well as a handful of AU examples, all survivors are in lower grades, typically Fine to VF. It is particularly noteworthy that the D. Brent Pogue specimen was certified AU-55 by PCGS at the time of our May 2015 Pogue I Sale.
Add to that, these coins were very poorly stuck. I have noted two die rotation variations for this date. In both cases there is weakness on the reverse opposite the bustline of Ms. Liberty that is always flat. There is was not enough metal between the two dies to strike up the detail.
In general, there was way too much design detail on these tiny coins to get the detail stuck up most of the time. The only two dates that come fully struck are the 1800 and 1803.
Here's my 1805 half dime. It's PCGS "old green label holder" graded VF-35. I dare say that it would make EF-40 today. This one came from a "Coin World" ad that was placed by early half dollar specialist, Sheraton Downey.
Here is a high grade 1800 that is fully struck. PCSG graded this one MS-64.
And here is a well struck 1803. This one is now in an AU-55 holder. It was once in the collection of a Dr. Culdwell which was sold in one of Dave Bowers' auctions may years ago. It was a plate coin from Walter Breen's Encyclopedia.
One of my biggest regrets over the past 5-6 yrs was trying to be nice to a local dealer who got in a grouping of draped bust coins. I purchased a about 5 or 6 at Grey sheet and he had an 1805 in old green label EF40. I told him I would be robbing him at his price to me which was about 1500 under sheet and behind the price he had listed.
I told him the coin needed to be cracked out, would grade AU and was worth a lot of money.
A week later I visit to ask if he sent the coin in to pcgs. Nope he sold it to another dealer. A few months later it sells for stupid money with a gold sticker. He was sick when I showed him. After that the deal was I buy anything at his price and if I rip him off I give him a kick back when I sell. Worked great until he retired a few months ago
That dealer was obviously way behind the times. I guess he won't take tables at any coin shows. When I was dealer, I knew who the specialists were, and who would pay the fair prices.
As a collector and a dealer, I almost never was able to buy the Draped Bust coins at Grey Sheet prices. I always had to pay more, and flipping them for something over that was never a problem.
Fishteeth,
You are extremely kind and honest and I give you kudos for that! I think I would have bought them all. I also say "Seller beware"
I have been looking for a holed 1805 for a long time. After so much time looking, I decided the coin was rare enough to warrant a purchase of the date to fill the hole. Any one ever see a holed one or know of one for sale? Is that the AU to be sold?
Mine is weakly struck as Bill mentioned with the corresponding area on reverse. A guy named Ed must have done the E in liberty.