1837 No Stars 1/2 dime-Is there a market for this coin?

Ogden

I saw a beautifull toned (ouch) coin at my dealers Saturday. It has been graded MS 65 by NGC. I am very interested in buying it but I always try to do my homework on the value. PCGS does not list a value for this coin but Heritage shows it between $2000.00-$2400.00. The dealer is asking $3200.00 but says he could come down to $2700.00. I also think he would go lower. I have looked on Ebay and could not find anything to compare prices. Are they any 1/2 dime collectors on the boards who could give me some advice? I don't want to purchase a coin and then, if I decide to sell, can't.

Thanks
Ogden

itsnotjustme

Grey Sheet (July 2002) is $2,650 for this coin. I'm looking for one in a lower grade.

jcping

I could use the coin but it has to be in a PCGS holder.

coinguy1

Ogden,

For comparison purposes, we have an NGC MS66 (which bids $1240 higher than an MS65 on the Bluesheet) listed for sale at $3750 retail and would probably take $3400. I'm not trying to sell it to you, just providing some information.

There is a dealer sight-unseen bid for an NGC MS65 at $1820. Based on that and what I would expect to have to pay for an MS65, I think a fair retail price would be in the $2400 range. I hope that helps a bit.

northcoin

The 2002 Redbook offers for a half dime MS65 type coin retail values ranging from $1,200 for an 1860 to 73 to $3,200 for an 1837 to 38 Liberty Seated. I see your asking about an 1837. I assume your dealer is asking REdbook value and that your coin is the higher priced 1837 to 38. If so 30% below Redbook would probably be as low as most retail dealers would go which would come to $2240. Keep in mind that half dimes are not one of the hot coins right now and thus should not command a premium because of demand.

kieferscoins

Northcoin: His title says 1837 no stars.

Cameron Kiefer

BillJones

There was a time you could hardly give the No Stars half dime coins away. Although it had a high catalog value most collectors were happy with one example with the Liberty Seated design.

I think things have changed for the Mint State examples for a couple of reasons. First Mint State collectors usually have more money and can afford to collect a wider range of coins. That means that the No Stars design, which is a very distinctive type, is on their radar screens. Second, so collectors refer to it as "the baby Gobrecht," and that has enhanced interest in it. At any rate it's a neat coin and worth a spot in your collection.

Be aware however, that some older NGC holders contain coins that are AT. That hurt the company's silver coin products for a number of years.

Ogden

The only thing the slab said was 1837 HC No Stars, MS 65. It did not say anything about small or large date. I know that there is a difference from looking at coin sites. Why would you not buy this coin in a NGC slab? JC Ping said he was looking for one in a PCGS slab! Any reasons for this? I did see a coin on ebay which was a 66 NGC slab with no bids. It makes me kind of wonder whether collectors are willing to pay this kind of money for this coin!

Thanks for all who replied.

Ogden

kieferscoins

<< <i>Ping said he was looking for one in a PCGS slab! Any reasons for this? >>



He may be doing a PCGS type set and right now they do not allow NGC coins into the sets.

Cameron Kiefer

Ogden

Cameron, thanks for the reply. Please look at what Bill Jones said. Apparently NCG did slab some AT
coins at some point. Does anyone know when this time period was? I think that I could get the certification # off the slab and call NGC for the date the coin was slabbed. That should determine more.
It is a beautifully toned coin.

Ogden

coinguy1

Ogden,

IF NGC slabbed any that were A.T., I bet PCGS did too. Mind you, I'm not saying that either did.

I don't think either of those grading companies is any better or worse at detecting A.T. than the other.

Elcontador

Take that Heritage Value Index with a LOT of caveats. It is typically low end, and for some high grade type, there is just no way you could pick up the coins for that Index range if your life depended on it.

This is a very specialized coin with a rather narrow market appeal. If it meets your specs you are planning to keep it fine. For this reason, I'd expect prices to be soft for it, unless it screams "eye appeal."

dorkkarl

i'd suggest buying that coin if the example is nice. the n/s dimes & half-dimes are, imo, are few & far between in problem-free grades.

K S

TomB

If it's a nice coin, you like it and you can afford to lose the money I say go for it. Please note, I am not inferring anything negative about the coin by mentioning if you can afford to lose the money, I believe that that should always be factored into any coin purchase.

agfox

Following on what others have said, if series is not "hot" atm. It might be something to consider if you have to sell it anytime soon. That should play an important factor in the decision. Might have to take a loss.

Trime

agfox,
I am a LSHD collector and holder of 2 1837 LSHD small date coins (MS66 & 67). The price of this coin varies considerably with retail prices in the Heritage auction archives for a MS 65 in the past 3 years ranging from $1800-2700. I can't of course judge the individual coin but asking $3400 is quite steep. The coin is not scarce with lots of examples on the market. A nice specimen in the $2000-2200 price range would not be difficult. I suggest that you go first to the Heritage web site and check out the archived pictures of the MS 65 coins ; then go to the Pinnacles web site and take a look if the MS66 specimen that Mark was refering to is shown. Compare it to the coin you looked at. That coin at $3400 may or may not be a better buy. I paid more than the Pinnacle "probably take price" for my MS66 and a lot more for a very nice MS67.
This is not a coin that requires a once in a lifetime decision.