Should I buy???? 1829 Dime $17,000

DMWJR

Could someone advise me (without liability, har, har, har) about purchasing an 1829 Dime, which is a PCGS MS67 pop 1, original, not white It is on hold for me right now. Current asking price is $17,000.

I have dug up as many sales as I can and not very much help. Most rescent was 13,500 for one in 66, and 5,000 for one in 65. Then ten years ago --19,000.

Who are the experts here that can give me some insight????

goose3

got a picture of this dime? WOW!

EVillageProwler

A 1829 dime isn't really rare. Admittedly, in that lofty grade it is impressive. But, it's not a series with a lot of demand. $17K seems excessive to me. But, I am no expert on the series and certainly not at that grade level.

EVP

airplanenut

Get a VG for 1/1000 the price

CLASSICS

it is not a very rare coin, and at that price i myself would pass.

MastaHanky

With the prices you were quoting on previous sales, it actually kind of sounds like a bargain, especially if it's solid for the grade.

But it's more than I would spend.

But I don't collect that type of coinage either.

(Why buy that when for just another $17,000, you can have a 1963 PR70DCAM Lincoln? )

darktone

Here's one that Heritage sold a few years ago. mike

Auction: 1998 June Long Beach Sale
Sold For: $16,675.00 (with BP)
Ended: June 3, 1998
10:00 PMCT
Current time: 10:20 PM CT
Time left: Auction Closed
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Description
1829 MS 67 NGC. JR-2, R.2. A relatively common variety, at least a half dozen JR-2 dimes are known in mint condition. There is even another MS 67, a piece that was sold in our 1982 ANA Sale, but that was definitely a different coin than this one. This piece has distinctive streaks of deep cobalt-blue, russet, and cinnamon-brown patina on each side. The underlying luster is bright and satiny, and the surfaces are free from any troubling or even noticeable abrasions. An exceptional and obviously original example of this popular variety. Population: 1 in 67, none are finer (4/98).

Conder101

Only if it has a curved base 2.

Aaron04

Sounds like a sweet coin.Im not sure on the price but if a 66 sold for 13.5 K then 17K for a 67 sounds like a good deal.

Lakesammman

Depends on how many registry points you get and if it will improve your position.....

tradedollarnut

If the quality of the coin is there - technically a true MS67 and additionally with MS67 eye appeal - I would think the price reasonable. However, the coin may not be all that liquid as it trades rather infrequently. The other question I might ask is if it's a true pop 1 or if it's freshly made and really now a pop 2.

With satisfactory answers to the above concerns..... congratulations on your new purchase!

coinguy1

Doug,

My January, 2003 PCGS Population Report lists a "Small 10c" in MS67 and two "Medium 10c" in MS67. As most people don't collect MS MS67 Capped Bust dimes by die variety, I'd call it a pop 3, not a pop 1. Also, I love pretty toned coins, but when something is described as "original, not white", the first thing I think of is that it might not be pretty.

I realize you asked about the price, but I don't feel that it would be fair to comment on that, without knowing what it looks like.

lathmach

Get one in good for $4 and use the rest of the money on something practical.


Ray

AbesNeighbor

What is practical for one collector may not be for another. I think Coinguy gave the best advice. See it first, If you like it and can afford it, buy it.

Dan

smprfi

If you have that kind of money to spend then buy it.

Zerbe

Doug, here is another bust dime you might want to look at. There is a very good image [posted on his web site (www.rareassets.com )
I have bought from Joe before and I know he will negotiate the price somewhat.



1833 Capped Bust Dime, Mint State-66 (PCGS)
Finest PCGS Certified

COIN FACTS
Date-Mint: 1833
Type: Capped Bust 10c
Small Size
Issued: 1828-1837
Grade: MS66 PCGS
Census: PCGS 3 MS66, 0+
$ 12,500

--------------------------------------------------------------------------------

The contents of this site including all images, graphics and text are Copyright Joseph O'Connor. This is a simply amazing Small Size Capped Bust Dime. Every fine detail is boldly struck and completely defined by any measure.The surfaces are fresh and original, with luster that is mostly pearlescent on the obverse, paired with a reverse that is strongly reflective, even within the shield stripes. A great deal of searching under a high power glass will reveal literally only a few tiny contact marks, definitely not enough to cut this Superb Gem from MS-67 status. Finally, the toning is multicolored and attractive, in blended hues of amber, violet, green and blue.

As PCGS has certified only three 1833 Dimes Mint State-66, with none higher, this superlative example is certainly a strong candidate for Finest Known status.


--------------------------------------------------------------------------------
Joseph O'Connor Numismatic Rarities
Post Office Box 469, Oak Forest, Illinois 60452
Telephone (708) 535-6608 Facsimile (708) 535-6612
eMail jroc@rareassets.com

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tradedollarnut

Joe: I like your analysis but do have to take issue with you on the liquidity statement. I know exactly how difficult it can be sometimes to sell high grade bust material. I know exactly how long it took for me to market the Eliasberg 1818 MS67 quarter, the Eliasberg 1821 PF67 quarter, the Eliasberg 1822 PF68 quarter, the Rose 1827 Copper Proof Quarter, etc. I also paid a very pretty price for a stunning bust half dime and had no buyer for it when offered on the market recently.

A person should go into a high grade bust purchase with their eyes wide open. If you have to sell, there is usually not a line of buyers lining up for the coin. Oh, sure, everything is liquid at a price - but my experience is that high grade bust material has a long shelf life and therefore a statement to be aware of the liquidity issue is certainly a valid one. The fact that the price is 42% over bid makes that shelf life even longer, irrespective of the accuracy of the bid.

ScarsdaleCoin

Price sounds fair //// top pops are going for much more //// which 1829 is it? Good Luck

keithdagen

Joe:

Same coin as the one in the FUN auction.

The piece is listed as selling in the FUN auction a few weeks back for $11,960 with BP. The coin in the color photo looks completely different from the scanned version of the piece, so I would probably not purchase this piece without viewing it in person, and I definitely wouldn't purchase it with a $5K mark-up.

DMWJR

My server has been down for two days!!!!!! So I haven't been able to respond.

I was shocked to see all of the tremendous answers. I can't tell you how much I appreciate it. Quite different from asking a question and getting no responses.

I am going to consider taking the coin out on memo so that I can look at it in person to determine color, strike, luster, and variety. If I like it, I will try to buy it. If not, then I will return it promptly.

Thanks for keeping my feet on the ground. Sometimes when I see a coin I get irrational about it and let my emotions move me.

Again I appreciate the advice.

Doug

parkave

Doug,

One of the downside risks you need to consider is that a finest know POP 1 status may someday be shared with another MS67, leaving it tied for finest known. This is a risk/reward scenerio and I've seen supposed FINESTS drop 20-30% when the next coin is graded.

There are many fresh collection still untapped. In response to paying $5000 over the auction price, who knows how much the auction buyer was willing to pay....some coins do go cheap at auction, even thought they are worth more.

Just my opinion.

roadrunner

The 2003 FUN coin brought $18,700 in 1997. You have to wonder if it's owned by the "house." Just a thought. Though this was a classic looking original and essentially flawless coin, it is bordering on the too dark for today's fussy and "near white" buyers. I liked the coin's look but realize it's not what most are looking for today. Doubt that PCGS would ever grade that coin 67 again. A knockout MS67 bust dime would be a deal in the $15K+ range. Yet almost none of them qualify as AAA quality.

Agreee with TDN about some of the liquidity issues with these type coins in ultra grades. If they are AAA quality, the buyers are there.
Anything short on eye appeal, and it's a different ball game.

roadrunner

DMWJR

Bob, you are right that every coin must be considered on its own merits regardless of the holder.

You are also correct about a few good deals out there. I bought a cherry 1937 PCGS PR66red in the October 2002 Kingswood sale for $525. The coin is from the same die as my 1937 PR66cam (1/0), but has just slightly less frost. I felt like I was paying too much because these coins were selling much lower even six months ago. But . . . these coins continued to rise in January and I know where two are offered right now for over $1,000.