Okay, what's wrong with this auction??
NumisEd
Posts: 1,336 ✭
I know that it's late, so I am probably making some silly mistake or oversight, but what's wrong with this auction?
Morgan Error on eBay
The slab says "Capped Die", yet the seller describes the capped die error as follows: "The Capped die is actually an error caused by a large CC being punched over a small CC of the type used for the 1878-CC, and then the small CC was tried to have been obliterated with engraving tools." Huh? What? Errrr....excuse me? And what's up with the price? $33,000?? I see that he has a Morgan set in the PCGS registry, so he appears to be a viable collector...I think.
The funny thing is that I don't see the coin in that holder as being a capped die, unless it is a very, very slight brockage. Help me out with this one....please. Maybe I should just get some sleep and this will make sense to me in the morning.
Morgan Error on eBay
The slab says "Capped Die", yet the seller describes the capped die error as follows: "The Capped die is actually an error caused by a large CC being punched over a small CC of the type used for the 1878-CC, and then the small CC was tried to have been obliterated with engraving tools." Huh? What? Errrr....excuse me? And what's up with the price? $33,000?? I see that he has a Morgan set in the PCGS registry, so he appears to be a viable collector...I think.
The funny thing is that I don't see the coin in that holder as being a capped die, unless it is a very, very slight brockage. Help me out with this one....please. Maybe I should just get some sleep and this will make sense to me in the morning.
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Comments
I wonder if he is looking at MS66 prices. Unless this coin has doubled in value over the past couple of months, his CDN pricing is wrong.
Also, I did a bit of research and found out what the story is. It's the "Capped CC" variety, not a capped die like the NGC slab says. The seller's story is somewhat correct in that a large CC was poorly puched over the smaller CC. The result is an ugly mint mark that somehow became known as the "capped CC" variety. Miller says the capped cc's are "worth 50-75% less than the normal variety". Current CDN bid for 1879-CC "capped" is $17,000 in MS-65, so I don't know where the seller is getting $33,000. I would guess that a dealer told him that bid was $33,000 when he sold the sucker that coin for a bargain price of $30,000....sight unseen....done deal.
Why did NGC print "Capped Die" on the holder instead of "Capped CC" or simply "Capped"?
z
It is not what we think of as a "capped die", though. We would describe this as a Large over Small Mintmark at the present time, but this variety was given the name years ago.
Ray
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<< <i>Yes, it's "Capped CC" not "capped die". >>
Technically this is correct...but I hear it commonly referred to as "capped die"...and if they're talking about a 79-CC, we generally know what they mean. Not 100% numismatically correct...but then I still call them pennies and nickels rather than cents and "five cent pieces".
Mike
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Looking for Nationals, Large VF to AU type, 1928 Gold, and WWII Emergency notes. Also a few nice Buffalo Nickels and Morgan Dollars.
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