Rare but under-appreciated variety, just crossed over!
renomedphys
Posts: 3,613 ✭✭✭✭✭
Was waiting to get the photos before posting this. Picked up in Colorado Springs, this 1798/7 cent is a Sheldon 152, and perhaps tied for fourth or fifth finest known. I bought it in an NGC 45 holder and graded it EAC30 on the spot. I think Tom Reynolds called it a net 30+ and called it “a nice coin” which is all the sticker I need. I gave it to PCGS with ANY minimum grade and they crossed it at XF40.
Couple thoughts: First, even though this is only an R2+ variety, anything above 20 is downright rare, even across the three varieties, Sheldon 150, 151, 152. PCGS shows 10 graded finer and three in this grade. The REN (Naftzger) example was only a 30. What this tells me is that it is indeed very difficult to locate one even this nice. Comparably similar to 1839/6 or 1888/7 in terms of grade rarity, both of which sell for much more in comparable grades.
Second: I think this variety is under-appreciated. It has a lot going for it, being a Redbook variety, and the first overdate for the US mint on a One Cent coin. It’s also a bold naked-eye variety. What this tells me is that there is less demand for this variety.
Now I’m just going to speculate: Being me, with tastes leaning toward design completeness, it’s hard to get excited about a coin that you can only really hope to buy in VF20 or lower with few exceptions. Also, and just guessing here, it would seem that perhaps very few collectors consider it necessary to a set that they can actually complete.
Regardless, I feel lucky to have found one so nice.
Cheers!
Comments
I like the look a lot
Your new coin is much nicer than my AG3 example.
Congrats on your purchase.
Nice coin
Congrats
Mike
My Indians
Danco Set
Like most variety enthusiast you get a gut feel for scarcity when constantly searching. There some crazy, lopsided, and maybe to be nice – grossly ill-informed people paying stupid money for very common varieties (1909 VDB DDO # 1 and 2 come to mind along with the 1909 S over S.) Coins listed in the CPG had little time to determine their scarcity and took their best shot at determining value. I applaud your find and hope your search continues to locate those other rarities you are after only a handful of us can truly appreciate.
WS
Great post and very nice example!
Though I personally pursue many of the major LC varieties, I’ve overlooked or never pursued this one. The 39/6 and 23/2 were must haves for me, and the 11/0 is my current white whale.