Prices for the Strawberry Leaf Large Cents - Is Greysheet Smoking Crack?

Rittenhouse

I was looking at the Greysheet monthly recently an noticed something interesting. There are prices for the Strawberry Leaf Cents in AG thru F. I find this most interesting in light of the fact that there are only 3 currently know pieces. Two are held in the "Ohio Collection" and 1 is permanently impounded in the ANS. None are for sale. I have personally studied all three pieces; they grade as follows:

NC 2 - Unique, Ohio Collection, EAC F2, but smooth brown, a bit weak but still perhaps more deserving of an AG3. Nicest of the 3 IMHO.
NC3 - ANS, G detail but some corrosion & pitting & several scrapes, a bit of "off color", net AG3
NC3 - Ohio Collection, VG detail but heavy pitting & corrosion, net AG3 - but most copper folks grade G4 scudzy (IMHO same effect as calling AG3).

So, with 3 known pieces none of which grade above AG3, how does Greysheet come up with prices for G, VG and F pieces that don't exist?!? Furthermore, since none are for sale and if they were would be sold at auction, how do they come up with a price for any grade? They just gotta be smoking crack!

BTW, the Parmalee piece is not exactly untraced.... rumor has it that lawyers for the estate won't let anyone see it supposedly due to an attempt by "parties who shall remain unnamed" to "low ball" the piece.

kranky

You're right, it makes no sense at all to price coins in grades that don't exist.

But even though none are currently for sale and they would be auctioned, I think it's OK to show a price for the AG and G grades. Like any other price in the sheet, it's their estimate.

Or maybe they show a price for F because they think if one was offered, it might be advertised as F. Some of those old coppers have been known to mysteriously acquire a few more grade points as time goes by!

Julian

The GS provides an estimate for wholesale values. These estimates are incorrect, as are several other listings, i.e. 1851 Original Silver $. All references have errors. Nothing, not even my opinion, is flawless.

MrEureka

Greysheet will likely be higher in the next issue. The new higher bidder isn't smoking crack, he's just an optimist hoping a new coin will materialize.

ursabear

Rittenhouse,

Please educate me on something. You've piqued my interest...

What year(s) are these? Any good sites to read about them? Have any of these coins been imaged such that we can see them?

Inquiring minds want to know...

Coin Finder

Bear,

1793 Large cent. Red Book has a picture. Several people including me think that this was not intended to be a regular mint issue. Some think the mint did not even make these cents.

Tbig

ursabear

Thanks Tbig!

I should have thought to look at my redbook before I asked... I'll read about it.

Is it technically a pattern, then?

topstuf

Back in 79 or 80, I needed an XF capped bust half dime, dime, and quarter for a customer.

I ran a simple ad on CoinNet offering to pay "ask" for one of each.

The next week, the grey sheet saw my ad and bumped "bid" to "ask" money for just those 3 issues in XF only.

Winning in coins is like winning in Vegas.

originalisbest

It's a rarity's rarity - likely to make the most "hard core" collector smile because there's so few known, and none of them very likely to be slabbed; there's no supergrade aspect to market.

Wouldn't it be great if a long forgotten, problem-free VF (with an F by EAC standards) were to surface and be put up for sale? I'm sure the price would be astounding - and if a genuine example were to surface with preservation similar to "the coin", undoubtably the 1933 double eagle record price would be challenged. Fun things to think about as a collector.

RYK

It seems that if you wait around long enough and are patient, you will get to see just about everything. Neat story how the finest known has resurfaced. Talk about "FRESH."

eyoung429

I still stand at my 1.4 mil from my previous posts.

lloydmincy

Rittenhouse:

I'm confused. I thought there are FOUR known pieces, and ONE of them has just been graded F-12 by NGC. So there's your Fine specimen, and, what do you mean the lawyers are involved, worried about the sale price low-balled??? It is going up for sale at ANR's auction. So what am I missing?

lloydmincy

Eyoung429:

No way. I say under $500,000.

dorkkarl

isn't greysheet wholesale???

i don't see any possible way "wholesale" values can be assigned to such rare coins. i mean, what's wholesale on a 1913 libnick?

K S