1806 $5 Draped Bust Half Eagle Buyer's Remorse- Help! (Update)
Jobessi
Posts: 267 ✭✭✭
I bought this half eagle this weekend on an online auction and I am having serious buyer's remorse. What would you grade this coin at, and how much would you have spent on it? I'll post a screenshot of what I paid after I get a few answers. (These are the auction houses's pics)...never drink and bid. Hopefully I didn't do too bad... (Updated as promised) I spent $3,325.00 on this coin.
Farmer & Theatre Teacher by day…
2
Comments
Harshly cleaned, possible rim repair. F15 details.
+1, that sounds about right.
Possibly removed from a mount?
Either way, if you didn't pay too much a neat coin.
peacockcoins
Agree that it's ex-jewelry coin.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It appears to be genuine.
I would call it "ex-jewelry".
Check the edge for a possible mount removal.
Even so, the coin still has significant value.
Whether or not it is a good deal will depend on the purchase price.
A cool piece of historic Americana. While it’s probably the most common date & variety of the series, it’s still a sweet old lady. That said, it appears to have spent a good chunk of time in vigorous circulation, or even a jewelry setting. It would likely grade at Fine-details/cleaned or ex-jewelry.
Here’s my AU55 example for comparison…
I don't know about jewelry, but it definitely looks processed and has some funkiness on the rims.
In honor of the memory of Cpl. Michael E. Thompson
Agree with the other responses. Early gold will still have a lot of value with problems. Also, the edge will have reeding, unless it was removed from a mount with solder. The edge appears smooth in places, with some reeds, from what I can see. I just took this picture to show the reeding on an 1800 $5 PCGS AU53. Even in F15 details, it should still have edge reeds.
nice coin and as long as you can afford what you paid for it who cares if it was too much. but i would think there is a return policy of some sort. return it if you just cant live with the purchase if return is not an option remember the saying "live and learn"
Ex jewelry as others have mentioned. Speaking for myself, I'd try to be a buyer of that coin around $2500-$3000 and make at least $500 on resale. Details coins are tough to price and I normally err on the side of caution in case id have to dump it at cost.
Founder- Peak Rarities
Website
Instagram
Facebook
Can't you ask to return it?
If you're not happy, return it for refund
Mike
My Indians
Danco Set
Unless the coin was misrepresented, that would probably be unfair to the consignor.
Returning a coin that was auctioned is very different from returning someone’s inventory item.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Now that you've update your post, I can see that I was pretty much right on the money. You'll be fine,
If you get it in a details holder and ship it to GC you might break even or take a small loss. Almost any draped bust $5 is worth around 3k minimum these days.
Founder- Peak Rarities
Website
Instagram
Facebook
Keep it raw and use it as a pocket piece.
I would be afraid of losing a small coin like that if I used it as a pocket piece.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Nevermind I wouldn't want to be walking around the grocery store with over $3k on me all the time 💵😂
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
Hopefully you can return it.
No body will know. Keep it in your pocket. Just reach in and feel it every now and then to put a smile on your face.
I agree with cleaning and details. Also, I would not have paid that much.... If you have return privileges, I recommend you do so.... Cheers, RickO
Another coin that would look good in an album
Mr_Spud
I know someone who isn't getting eggs any time soon
I have chickens... I have eggs coming out of my ears 🥚👂😭🤣
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
Until the day you lose it or it falls out in front of other people 😬
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
Hang on to it is my advice. It’s value will increase as the price of gold increases over the years. The dollars trend is down giving support to bullion prices.
I used to carry an old cleaned $20 Liberty as a pocket piece. It fell out once and I just told the people that saw it that it was a fake that I inherited from my Grandpa and carried it as a sentimental piece. No one batted an eye or gave it a second thought. If you lose it, you lose it, you'll make someone a very happy person when they find it and the good karma will come back around to you sooner or later.
I'd tear the place up if i dropped the coin and it rolled off.
Successful transactions with: robkool, Walkerguy21D, JimW, Bruce7789, massscrew, Jinx86, jonasdenenbergllc, Yorkshireman, bobsr, tommyrusty7, markelman1125, Kliao, DBSTrader2, SurfinxHI, ChrisH821, CoinHoarder, Bolo, MICHAELDIXON, bigtime36, JWP, 1960NYGiants, fishteeth
If you want to carry it, put it in a bezel and wear it around your neck. Far less likely to lose it compared to carrying it in your pocket.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It’s not a bullion coin and its value is unlikely to be meaningfully impacted by the price of gold.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Well, you will have a grade rarity. PCGS has graded 205 of the round top 6 1806 $5's in AU, none in F12, two in F15, one in VF20. Even the F15 details coins are rare. You could put it in an airtight holder and just enjoy it for what it is, graded AU's are now well over $10k. Early gold with issues can allow a collector to have an example of these historic and beautiful coins. My first coin of the type was cleaned with rim bumps, when I was able to buy a graded coin I did not lose any money, and have no regrets:
very nice, what type of 'help' do you need?