The market is alive & kicking for LOW grade coins - here's a $20k example!

Colorfulcoins

I'd love to have this coin but at $20,700.00 for a FR02? It was earlier this year that a AG03 was listed on ebay at $24K and the Boards as a whole thought that was too high.....now $20K for a fair-2? Personally, I thought this was a $14-15k coin ( at best).....and boy was I wrong!




here's the most recent Heritage sales for non-nettet coin.....pretty dramatic increases!

2004
NGC VF25 $57,500
NGC XF40 $76,500
NGC VF30 $71,875
PCGS F12 $36,800

2003
PCGS VF30 $36,915
PCGS XF45 $62,100
PCGS VF35 $43,700

2002
PCGS F12 $20,700
PCGS VF25 $26,450

2001
PCGS XF45 $42,550

2000
PCGS F12 $17,250

1998
NGC VF20 $18,750
NGC VF30 $23,000

1994
PCGS F12 $12,650

BillJones

This is the one silver type coin I don't own. It looks like I'll keep on not owning it.

About 5 years ago I could have purchased one of these in an NGC VF-20 holder for $20 grand. The coin had been cleaned white, but at least it was viable. If this lump of silver is worth $20k that coin I passed upon must be worth $50 or $60 k now.

ziggy29

<< <i>This is the one silver type coin I don't own. It looks like I'll keep on not owning it. >>



This may be why I'll probably not even bother with 18th century type, at ANY grade. This is a stopper and probably always will be.

Nysoto

The obverse design is my favorite, but I never liked the reverse small eagle. This would be a good 1797 half for me to own because the eagle is almost worn smooth - but not at $20,000!

Bill

BillJones

<< <i>

<< <i>This is the one silver type coin I don't own. It looks like I'll keep on not owning it. >>



This may be why I'll probably not even bother with 18th century type, at ANY grade. This is a stopper and probably always will be. >>



Yea, it is a stopper, but I have all of the other types; and they really are a blast to own. I've got to admit that it took me 30 years to put the collection together, however.

dorkkarl

many months ago, i made the claim on this forum that no matter what you pay for a draped-bust small-eagle bust half on the fair, open market, you CANNOT lose money, & got lambasted for that claim.

K S

BillJones

Well perhaps you can start with this one!

Seriously, a couple years ago I was offered one with AG sharpness that was cleaned and had hole that had been poorly repaired. The price was $8,500.00.

I don't care if I could sell it for $10k, I don't want a piece of garbage like that in my collection.

rhedden

I'm with BillJones- at any price, a hunk of junk is a hunk of junk I don't want in my collection. Take that beat up 1797 in FR02, melt it down, and put it out of its misery. I suppose it will end up in a fabulous collection filled with otherwise XF-40 and higher coins and be a very expensive eyesore for someone.

coachleonard

i guess i can only speak for meself here: a genuine rarity, even in the worst of condition, is more "grabbing" to me than
the most beautiful replica. And remember, anyone who labels a coin "junk" is required by law to sell it to me for 'junk'
prices ($5-$10) should that coin ever come into their possession.

guysmy

<< <i>i guess i can only speak for meself here: a genuine rarity, even in the worst of condition, is more "grabbing" to me than
the most beautiful replica. >>



I'd much rather collect coins that look like the sculptor/designer intended them to. I'm cool with a little honest wear but that is too much for me to tolerate. I buy coins for their beauty; rarity is just an added bonus if I can afford it. I'm glad people collect for different reasons. It ensures that there is demand for both high-grade common dates and low-grade rarities.

majorbigtime

WOW! This is an amazing price for a classic rare type piece in crappy condition!

I also was watching this auction item, having purchased a PCGS VG-08 for around $16K just over a year ago! Lucky me!

Colorfulcoins

Take that beat up 1797 in FR02, melt it down, and put it out of its misery

........a classic rare type piece in crappy condition!


i made the claim on this forum that no matter what you pay for a draped-bust small-eagle bust half on the fair, open market, you CANNOT lose money

..........genuine rarity, even in the worst of condition, is more "grabbing" to me than........


I'm glad people collect for different reasons. It ensures that there is demand for both high-grade common dates and low-grade rarities.

Some very interesting and very polarized opinions. As a low-grade type collector, its a cool coin and since there are NO PO01's graded, its a pop-bottom coin........perhaps the ultimate pocket piece?

Nysoto

There was an AG3/F2 1797 that sold for $5775 in 1995, possibly the same coin. So much for dealers hyping "always buy the best" to get a good return on your investment.

Bill