Need some advice on 3 cent silver

IrishMike

Yesterday I attended a local coin show and today, just happened to be out that way again, running errands for the Mrs. One of the dealers had the prettiest toned (blue,orange and gold) 1851-0 silver 3 cent. I have never purchased one before, but it was one of the nicest coins in his tray along with a whitman toned 1840-0 half. It's raw and the toning is real, I trust this guy. He is asking $250 and in his opinion and I concur it's MS60. He even offered to let me take it with me and send him a check. Does this seem like a fair price for it, given the fact that he will probably knock it down a few bucks.?

BlueCole

yes. that seems like a really good price. the price guide says 325 for a 60, and a 50 goes for 250. SO i guess the toning is a bonus!!! Send us a pic when/if you get it.

B.

coynclecter

How do you define MS60. MY definition goes like this. " It's so bagmarked, hairlined and/or just plain ugly that we give it the worst grade we can, but, it's uncirculated, so we can't go any lower than MS60." If it had any appeal at all we would at least go 61 or 62.

I'd go with AU55 or 58. They seem to look better than the MS60/61 stuff I've seen.

Just my 2C

Coyn

IrishMike

Actually coynclecter he feels it will go 63 in an ANACS slab. I didn't see any rub or luster breaks on the coin, but I know so very little about them, so we agreed at a minimum ms60.

Placid

I have been looking for a nice silver 3¢ for a couple of months.
Most are ugly, or a high grade and expensive.

construct

The type 1 trimes have a lower silver content and are subject to odd or unattractive toning. I like them, but you have to know what to expect.

BigD5

If he felt it would 3, you have to wonder why he doesn't want to spend $10 to make an extra $100+ on the coin, because demand for that coin is high, and ms/63 is a desirable grade for the coin. Without looking at the coin, I would guess he as a cleaned/retoned au, going by the price and situation. The dealers logic doesn't make sense. There's too much upside for submitting that coin, for the dealer not to submit it. Of course, I could be dead wrong and the dealer is special, and likes to undervalue his offerings and give them away at "special" prices.

IrishMike

Thanks for the advice, obviously if I knew the series I wouldn't be asking for opinions. I've looked at the coin under 5X and 15X. Just because a guy is a dealer doesn't automatically make him an expert in each and every coin either. The price after I researched the coin seems almost too good. It goes to show you that regardless of how long you have been collecting that once you step outside the area where you feel comfortable, it's a good thing to ask around. I'll wait and take another look at the coin next month. It does as far as eye appeal hold its own with the 51-O's in the Heritage archives.