@BillJones said:
I have looked to buy a $50 for a number of years, but the grading is a problem. These coins were heavy and soft. Edge marks are big problem. I saw one over ten years ago for which the grade and price lined up for me, but I couldn't buy it. I had just purchased the 1796 No Stars Quarter Eagle that is in my collection, and I just didn't have the cash available.
I would never buy anything as lofty as an MS-63. A really nice AU would work for me.
One collector told me I should have bought an original California gold slug many years ago when I purchased the Pan-Pac $50 gold pieces I have. He may have been right.
I don't need to tell you but it is VERY tough to find a nice slug. The vast majority have some combination of messed with surfaces, edge damage, planchet flaws, etc. the ones that don't go for WAY over price guide. Compromises have to be made for anything under $75k or so.
The one I found, which was over ten years ago, was priced at around $50,000. It's just going to be one of those items I won't get. "The train has pulled out of the station" on that one.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@BillJones said:
I have looked to buy a $50 for a number of years, but the grading is a problem. These coins were heavy and soft. Edge marks are big problem. I saw one over ten years ago for which the grade and price lined up for me, but I couldn't buy it. I had just purchased the 1796 No Stars Quarter Eagle that is in my collection, and I just didn't have the cash available.
I would never buy anything as lofty as an MS-63. A really nice AU would work for me.
One collector told me I should have bought an original California gold slug many years ago when I purchased the Pan-Pac $50 gold pieces I have. He may have been right.
I really don’t mind a small corner bump of some well dispersed abrasions. There’s were heavy, utilitarian coins that weren’t put away early by coin collectors. I only have a problem with the amount of cleaned, scrubby, repaired crap out there but a lovely original slug with some skin on it is not condemned by me for a little corner bump here and there.
Mine has a little corner bump and it’s fairly abraded but it’s in the top percentile as far as originality is concerned.
There was one you probably would have been up your alley a month ago on GC, it was an Assay 887 in P40 cac ogh but it had the detail of an AU. It just didn’t quite have the luster but I still think it’s still at least a solid 45 by today’s standards. Corners were perfect, that one went for around 70k iirc.
I lurk a lot and don’t post much. But Dan, this is just an amazing tale of numismatics and history and I had to post a Thank You for sharing this with us.
I’m sorry you didn’t win the slug, but think you got a lot of history with your dictionary and autograph album. How many autograph collectors could there have been in the mid-19th century? And how many Webster Dictionary 1st editions can possibly still exist?
You don’t have to say, and I don’t know if you can even tell, but I am curious whether the Benedict Arnold autograph was while he was for the Americans or the British. Just one small piece of an amazing collection. Thank you again for sharing. This is why numismatics - and history - is fun!
Thanks so much for the great write up! Your slug is nothing to sneeze at. I bought my slug decades ago. Sure am glad that I stepped up to the plate that day.
@MFeld said: @DeplorableDan, after reading this thread and thinking about many of your other posts, I have an unsolicited suggestion for you.
I think you have a very special way of writing and story telling, that pulls readers in.
My suggestion is that you occasionally include some of your numismatic reports and experiences (such as this one) in a column on your website.
Great suggestion Mark, but I’m one step ahead of you 😉. I haven’t posted this story to the blog yet but I will when I get home.
As Clint Eastwood would say “a man has to know his limits”.
The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
DD, I liked your auction report so much I "liked" it three times. I agree with others that you are a good storyteller and writer.
The auctions I attended never had high priced coins. Usually there would be a bunch of silver dollars and proof sets, and the bidding revealed that they didn't know coin values very well. They were bidding pretty much the same price for all items. Silver dollars, all $30 or $35, which was $10 too high at that time; proof sets, all $20, even the 1956 set I purchased.
I found this but I can’t tell if it’s a signature or just a portrait with a printed signature. Though, I would wonder why Judge Barlow would put a print of a signature in his legitimate signature book.
@fathom said:
Fascinating thanks for sharing that.
The historical importance of the early US autographs and accompanied political ephemera should not be underestimated.
Looking back, I regret not buying more of it. I think I got the most significant pieces in the auction but if I wasn’t so focused on the coins that I didn’t win, I would have went gung ho on much more ephemera.
Dan, Thank you for the great auction report. It is nice to know that cool coins are still out there waiting to be discovered. Sorry you didn't win any of them. You did very well with your book purchases.
Dan it was a pleasure to meet you and I am still disappointed that you were not able to secure that beauty for your collection. I think all of us were in awe of the collection and the prices most of the pieces brought. This auction house normally has estate lots of common silver dollars, cent books and modern commeratives. This entire auction was incredible - be it the books, furniture and other items. The item that I wished I would have bid on was a US map from the 1820s. It was really cool, but I had no idea what it was worth.
As to the person that asked about the grading - they were recently graded by PCGS, I believe at the Philly collectors only show earlier this year.
@Namvet69 said:
Congrats. I live I New Hope, which is very close to Browns. I was on the phone with an attendee, who enjoyed the auction. That autograph scrapbook is spectacular. So much to appreciate. Have a good day. Peace Roy
I would say New Hope is about 5 miles from Buckingham, and I am closer - about 3 miles away in Solebury. Too bad I didn’t hear about this, because I would surely loved to go over and have a look at these marvelous objects.
@DeplorableDan said:
I found this but I can’t tell if it’s a signature or just a portrait with a printed signature. Though, I would wonder why Judge Barlow would put a print of a signature in his legitimate signature book.
That is the most handsome picture of Abe I've ever seen. It belongs in the history books!
Great write up Dan! I’ve attended a couple of these smaller auctions that contained some “gems”. It’s astounding how the word can get out at such a small venue. I’ve been in your position a couple times for coins worth about 1/10 of the slug. But it’s always very surprising that big dealers sniff out a tiny no name auction from afar.
Likewise, I’ve seen freshly graded early gold that was nice (like the ones posted) go for guide or more at the time (8 years ago). Also non CAC (yet). I lost out as it was hard to pay strong retail when you still have to hope you didn’t miss something that CAC picked up. You wonder outside of the slug, who was paying full package prices when there was still work to be done, especially at a small venue. Being freshly graded there’s no real upgrade play. Maybe just that fresh factor. Old holders make more sense, but tough to justify as they were. I’ve always pondered maybe local money trying to invest when I couldn’t fathom a dealer listing for some of the prices these coins brought.
Either way, very exciting and way to keep the prices honest and share with all of us.
Collector of Original Early Gold with beginnings in Proof Morgan collecting.
In this overheated economy for rare and tough collectibles, you did well to not lose your head. That's one reason I don't like auctions. And on ebay "buy it now" with offers strikes me as the most rational where sellers do their pricing analysis before listing them. Clearly though if you are a seller auctions are how the crazy money happens which we saw here and elsewhere, though I'd prefer not to swim with the whales and sharks.
I’ll admit to being able to grab what I think was the finest $5 half eagle in the sale. I’m thrilled. If I had the money, I would have bid on the slug, but I can’t compete with the collector that won it. He wanted it badly.
@DMWJR said:
I’ll admit to being able to grab what I think was the finest $5 half eagle in the sale. I’m thrilled. If I had the money, I would have bid on the slug, but I can’t compete with the collector that won it. He wanted it badly.
You got the 1807 in 3+? Amazing coin, as fresh as they come. That one seemed to be the most reasonable priced out of the 3 as well. I would have went after one of them but I was saving my powder for the slug
Love the commentary. Nothing is as enjoyable as an estate auction with a lot of history behind the contents! Thank you for living vicariously with you on the adventure.
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The one I found, which was over ten years ago, was priced at around $50,000. It's just going to be one of those items I won't get. "The train has pulled out of the station" on that one.
I really don’t mind a small corner bump of some well dispersed abrasions. There’s were heavy, utilitarian coins that weren’t put away early by coin collectors. I only have a problem with the amount of cleaned, scrubby, repaired crap out there but a lovely original slug with some skin on it is not condemned by me for a little corner bump here and there.
Mine has a little corner bump and it’s fairly abraded but it’s in the top percentile as far as originality is concerned.
There was one you probably would have been up your alley a month ago on GC, it was an Assay 887 in P40 cac ogh but it had the detail of an AU. It just didn’t quite have the luster but I still think it’s still at least a solid 45 by today’s standards. Corners were perfect, that one went for around 70k iirc.
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1st edition!
Wowza!
I'd love to pore over that and note all the words that are missing.
What a great article (essay) could come of that.
Congrats.
The entertainment can never be overdressed....except in burlesque
Wow
Fresh to the market stuff went boom 💥
I lurk a lot and don’t post much. But Dan, this is just an amazing tale of numismatics and history and I had to post a Thank You for sharing this with us.
I’m sorry you didn’t win the slug, but think you got a lot of history with your dictionary and autograph album. How many autograph collectors could there have been in the mid-19th century? And how many Webster Dictionary 1st editions can possibly still exist?
You don’t have to say, and I don’t know if you can even tell, but I am curious whether the Benedict Arnold autograph was while he was for the Americans or the British. Just one small piece of an amazing collection. Thank you again for sharing. This is why numismatics - and history - is fun!
Thanks so much for the great write up! Your slug is nothing to sneeze at. I bought my slug decades ago. Sure am glad that I stepped up to the plate that day.
Even ten steps behind Mark (and Dan) I feel great.
peacockcoins
As Clint Eastwood would say “a man has to know his limits”.
DD, I liked your auction report so much I "liked" it three times. I agree with others that you are a good storyteller and writer.
The auctions I attended never had high priced coins. Usually there would be a bunch of silver dollars and proof sets, and the bidding revealed that they didn't know coin values very well. They were bidding pretty much the same price for all items. Silver dollars, all $30 or $35, which was $10 too high at that time; proof sets, all $20, even the 1956 set I purchased.
Fascinating thanks for sharing that.
The historical importance of the early US autographs and accompanied political ephemera should not be underestimated.
I found this but I can’t tell if it’s a signature or just a portrait with a printed signature. Though, I would wonder why Judge Barlow would put a print of a signature in his legitimate signature book.
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Looking back, I regret not buying more of it. I think I got the most significant pieces in the auction but if I wasn’t so focused on the coins that I didn’t win, I would have went gung ho on much more ephemera.
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Dan, Thank you for the great auction report. It is nice to know that cool coins are still out there waiting to be discovered. Sorry you didn't win any of them. You did very well with your book purchases.
Dan it was a pleasure to meet you and I am still disappointed that you were not able to secure that beauty for your collection. I think all of us were in awe of the collection and the prices most of the pieces brought. This auction house normally has estate lots of common silver dollars, cent books and modern commeratives. This entire auction was incredible - be it the books, furniture and other items. The item that I wished I would have bid on was a US map from the 1820s. It was really cool, but I had no idea what it was worth.
As to the person that asked about the grading - they were recently graded by PCGS, I believe at the Philly collectors only show earlier this year.
I would say New Hope is about 5 miles from Buckingham, and I am closer - about 3 miles away in Solebury. Too bad I didn’t hear about this, because I would surely loved to go over and have a look at these marvelous objects.
That is the most handsome picture of Abe I've ever seen. It belongs in the history books!
Great write up Dan! I’ve attended a couple of these smaller auctions that contained some “gems”. It’s astounding how the word can get out at such a small venue. I’ve been in your position a couple times for coins worth about 1/10 of the slug. But it’s always very surprising that big dealers sniff out a tiny no name auction from afar.
Likewise, I’ve seen freshly graded early gold that was nice (like the ones posted) go for guide or more at the time (8 years ago). Also non CAC (yet). I lost out as it was hard to pay strong retail when you still have to hope you didn’t miss something that CAC picked up. You wonder outside of the slug, who was paying full package prices when there was still work to be done, especially at a small venue. Being freshly graded there’s no real upgrade play. Maybe just that fresh factor. Old holders make more sense, but tough to justify as they were. I’ve always pondered maybe local money trying to invest when I couldn’t fathom a dealer listing for some of the prices these coins brought.
Either way, very exciting and way to keep the prices honest and share with all of us.
Bump
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Thanks for the exhilarating report! I've been to a few auctions in-person but none with coins that hammer for half a million!
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In this overheated economy for rare and tough collectibles, you did well to not lose your head. That's one reason I don't like auctions. And on ebay "buy it now" with offers strikes me as the most rational where sellers do their pricing analysis before listing them. Clearly though if you are a seller auctions are how the crazy money happens which we saw here and elsewhere, though I'd prefer not to swim with the whales and sharks.
I’ll admit to being able to grab what I think was the finest $5 half eagle in the sale. I’m thrilled. If I had the money, I would have bid on the slug, but I can’t compete with the collector that won it. He wanted it badly.
You got the 1807 in 3+? Amazing coin, as fresh as they come. That one seemed to be the most reasonable priced out of the 3 as well. I would have went after one of them but I was saving my powder for the slug
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Love the commentary. Nothing is as enjoyable as an estate auction with a lot of history behind the contents! Thank you for living vicariously with you on the adventure.
Not the 1807, but the 1800 in 63
https://d1htnxwo4o0jhw.cloudfront.net/pcgs/cert/49472489/large/278181512.jpg
Dan, it’s now CAC,
Of course it is, that one was a given. Enjoy it!
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