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A bargain basement Newfie half

BarberianBarberian Posts: 3,068 ✭✭✭✭✭
in World & Ancient Coins Forum

It struck me funny that this 1880 Newfoundland half with an original look and at least VF30 details (holed), sold for $6.50, well below its bullion value. I forgot about this coin and was the underbidder.

https://ebay.com/itm/134972553359

3 rim nicks away from Good

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    TomBTomB Posts: 20,741 ✭✭✭✭✭

    I think the buyer should be quite happy with the coin. Factoring in shipping boosts the cost a fair bit, but that is still an awfully attractive price to pay for that coin.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
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    coinkatcoinkat Posts: 22,795 ✭✭✭✭✭

    I hate to be the guy who sees the glass as half empty... but even without a glass one can see a hole in the coin. Lord M... were you the lucky winner?

    Experience the World through Numismatics...it's more than you can imagine.

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    BarberianBarberian Posts: 3,068 ✭✭✭✭✭

    @coinkat said:
    I hate to be the guy who sees the glass as half empty... but even without a glass one can see a hole in the coin. Lord M... were you the lucky winner?

    A coin with about $300 of numismatic value now has only $3 numismatic value simply because it has a small hole drilled into it. A 99% loss of numismatic value.

    3 rim nicks away from Good
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    carabonnaircarabonnair Posts: 1,392 ✭✭✭✭✭

    adding pics for future reference

    Gawain

    Pacific Northwest Numismatic Association
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    realeswatcherrealeswatcher Posts: 364 ✭✭✭

    Definitely a lot of meat for a few bucks over melt. Seller doesn't appear to ship to Canada, which hurts in auction format, but seems like the market for lesser Newfoundland material is just rather thin. The ticky surfaces here also don't help.

    On an amusing side note, took a quick peek at Heritage results for Newf. 1880 50c. and here are the two most recent - an ICCS VF20 (on the left) and a PCGS XF40:

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    BarberianBarberian Posts: 3,068 ✭✭✭✭✭

    @realeswatcher said:
    Definitely a lot of meat for a few bucks over melt. Seller doesn't appear to ship to Canada, which hurts in auction format, but seems like the market for lesser Newfoundland material is just rather thin. The ticky surfaces here also don't help.

    On an amusing side note, took a quick peek at Heritage results for Newf. 1880 50c. and here are the two most recent - an ICCS VF20 (on the left) and a PCGS XF40:

    I'd grade both of them closer to VF30, but what do I know? They're the experts and they're four grades apart.

    3 rim nicks away from Good
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    BarberianBarberian Posts: 3,068 ✭✭✭✭✭
    edited March 27, 2024 9:34AM

    Yes, the punches on the obverse (from fishhooks?) don't help it and the rims are beat up a bit, but the surfaces otherwise are nice for a Newfoundland half. Auctions starting with no reserve in a sparse market produce strange results. I shouldn't be surprised but I am.

    If this were a holed EF40 1909-S VDB cent, I would expect winning bids around $100-150. This 1880 sale would be comparable to an EF40 1909-S VBD with a hole selling for $12.

    Holed coins and their collectors have caught my interest lately. Perhaps some of the appeal is the sparse market and the absurdly high discounts (>95%) as a result. One can punch in a 99% discount on a hundred holed coin auctions on eBay and see what turns up.

    Thanks @carabonnair for posting the photo of the coin.

    3 rim nicks away from Good
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    ElmhurstElmhurst Posts: 777 ✭✭✭

    I had an 1888 once, only VG but original; sold it with a group of other coins, big mistake!

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