Why did a 1893-S dollar NGC authentic self for 19 200$?

WildWestHalfDollars

Today over at HA. Am I missing something just makes no sens at all.

coinbuf

Do you have a link? Tough to give any thoughtful commentary without knowing what you're seeing.

WildWestHalfDollars

@coinbuf said:
Do you have a link? Tough to give any thoughtful commentary without knowing what you're seeing.

Seems like someone beat me to it.

WildWestHalfDollars

1893-S Morgan Dollar, AU Details

Smooth Surfaces

1893-S $1 -- Cleaned -- NGC Details. AU. The diagnostic die line through the top of T and tiny "rabbit ear" die gouges in the base of R of LIBERTY confirm the authenticity of this well-struck 1893-S. The satiny, silver-gray surfaces are a bit glossy, with faint hairlines visible under a loupe, but only a few tiny ticks are seen on the devices and the fields are partially reflective. Softly glowing silver flash remains when the coin is rotated in light. This famous series key offers much to like despite the assigned Details grade.

From The Mr. Brightside Collection, Part III.

NewEnglandRarities

Here it is.

coinbuf

Doesn't seem all that out of whack, the last straight grade NGC AU50 sold for 21K, AU55 for 52.8K. Perhaps in hand at lot viewing a few bidders felt it was graded overly harshly.

JimTyler

I’d rather have a problem free VG than that

BustHalfBrian

That price isn't too surprising. Why do you believe it "makes no sense at all" that it sold for $19.2k? CDN bid in AU50 is $22,800, and that coin appears to have AU+ detail.

coastaljerseyguy

Ex of cleaning looks like an AU55, but definitely looks overdipped in photo killing the luster and if glossy surfaces probably wiped also. But who says details grades are the kiss of death, this did fine considering.

fathom

Hair over the ear and breast feathers are strong.

braddick

Decent album coin.
The price is not out of whack, really.
Some would like all of the details VS one that is worn down- albeit problem free.

Steve27

If the images are an accurate representation of the coin, I like it.

gumby1234

Decent looking for a cleaned coin. More details than many 1893S that you normally see. I think if it hadn't been cleaned it would have easily been a 40K coin or more.

WildWestHalfDollars

It is a detail coin how can it be worth more than even say a F-12 does not make sens to me. Usually detailed coins are considered problem coins and bring less than any other grade for the same coin. You can get a nice looking VG-08 for much cheaper.

WCC

@PillarDollarCollector said:
It is a detail coin how can it be worth more than even say a F-12 does not make sens to me. Usually detailed coins are considered problem coins and bring less than any other grade for the same coin. You can get a nice looking VG-08 for much cheaper.

I don't think your assumption is accurate, far too broad. I would say "know" it isn't, but don't have the data to prove it right now.

It's not the same as with world coinage where the number of buyers is a low fraction of this series.

WildWestHalfDollars

@WCC said:

@PillarDollarCollector said:
It is a detail coin how can it be worth more than even say a F-12 does not make sens to me. Usually detailed coins are considered problem coins and bring less than any other grade for the same coin. You can get a nice looking VG-08 for much cheaper.

I don't think your assumption is accurate, far too broad. I would say "know" it isn't, but don't have the data to prove it right now.

It's not the same as with world coinage where the number of buyers is a low fraction of this series.

I just find it very strange is all why bother mine as well buy as numerical grade at the highest level you can afford. Usually authentic grades are for people who cannot afford that option like myself in many cases.

WildWestHalfDollars

I simply never imagined authentic coins selling for more than even the lowest of numerical grades. I guess found out today it does happen.

MFeld

@PillarDollarCollector said:
It is a detail coin how can it be worth more than even say a F-12 does not make sens to me. Usually detailed coins are considered problem coins and bring less than any other grade for the same coin. You can get a nice looking VG-08 for much cheaper.

That’s incorrect. Many, details-grade coins trade at levels that equate with problem-free examples which are one to two grades lower. And they certainly don’t usually bring “less than any other grade for the same coin”.

dbldie55

I have been successful getting NGC cleaned coins straight graded at PCGS.

WCC

@PillarDollarCollector said:
I simply never imagined authentic coins selling for more than even the lowest of numerical grades. I guess found out today it does happen.

Collector tastes vary. Some collectors prefer coins with less design wear vs slight "problems". You're also overlooking the numerous reasons for lack of "market acceptability". There is a big difference between ":surface hairlines" and holed, corroded, or another prominent flaw.

In the Pat Johnson sale of Latin coinage held by Stacks, I paid a higher price for one of the "AU details" versus any of the Peru pillar 4R sold that day. Yes, it's cleaned (hardly shocking) but there is nothing actually wrong with the coin, other than PCGS saying it isn't "market acceptable". I consider it a better looking coin vs. ALL (yes all) of the numerically graded examples of other dates.

bigmountainlion

There are many types of details coins, if it’s harshly cleaned, whizzed, polished, it would bring lower price, many people don’t mind lightly cleaned coins, that doesn’t show obvious cleaning. Can’t lump all details coins in one price range.

brokecollector

I actually like it, a fully struck coin with great detail.

RobertScotLover

I couldn't care less what the paper label states, I rather have that with all its incredible detail and strike versus low grade crap you see everywhere. This is a standout, crack it out and resubmit until it grades legitimately.

cameonut2011

A coin doctor probably saw it, thought he could work his magic, and the coin possibly straight grade later.

ricko

That is a nice looking coin (judging from the above pictures), and does not appear to be harshly cleaned.... I can definitely understand a collector buying that one... Cheers, RickO

jmlanzaf

@PillarDollarCollector said:
It is a detail coin how can it be worth more than even say a F-12 does not make sens to me. Usually detailed coins are considered problem coins and bring less than any other grade for the same coin. You can get a nice looking VG-08 for much cheaper.

It is not true that a details coin brings less than any other grade, not even remotely true. And it is especially false for a coin that is simply "cleaned".

DennisH

@cameonut2011 said:
A coin doctor probably saw it, thought he could work his magic, and the coin possibly straight grade later.

This.

coastaljerseyguy

@RobertScotLover said:
I couldn't care less what the paper label states, I rather have that with all its incredible detail and strike versus low grade crap you see everywhere. This is a standout, crack it out and resubmit until it grades legitimately.

Although I agree I would take this over a VF or lower graded 93-S, I would take an original not messed XF45 over this any day. Great strike and minimal wear and hits, but the luster appears shot through overdipping or improper dipping/rinsing. All those shadows/halos around the devices tells you something. Satiny silver-gray surfaces, softly glowing silver flash when rotated under light - nice marketing spin.

That coin is graded legitimately today and hopefully never sees a clean slab in its future. It is what it is and there are plenty of folks who appreciate it as-is with the details label. It sold for a great price as details, albeit probably 35% lower then a nice clean AU55.