A perfect example of what makes coin collecting so exciting to me...a common coin with an uncommon s
coinlieutenant
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Gold type collectors and half eagle specialists know that a 1903-S half eagle is not a rare coin, even in gem grades. The services have graded over 100 in gem grades and above.
Sometimes however, a common coin will have appeal beyond its overall rarity that makes it special and very appealing to me...enough to draw me out of my bust/seated half cave to purchase it.
I bought this coin from Seth Chandler, a fellow board member that is a very adept and saavy grader and numismatist. Seth has become a good friend on the boards and off of it. We have had dinner on several occasions since we were geographically close when I lived in Monterey and he in Marin county. We talk frequently sharing stories of upgrades and raw coin purchases that we make and holder. He told me about this coin about a month ago that he bought raw and it is the story that drew me in.
This coin had been owned by the same family in San Francisco since the time of mintage in 1903. It has been in the family four generations and 102 years. The 4th generation owner took the coin to antique roadshows where it was appraised at 500$ (off camera) and offered to purchase. The man declined and eventually sold the coin to Seth who got it graded and gave me first shot at it.
This coin is an absolutely original and virgin coin, never having been subjected to dipping or cleaning in all of those years. It has an olive green thick rich skin with coppery original peripheral toning and outstanding luster that shoots through the patina. It is also well struck at the peripheries which is a bonus as the issue is generally weak at the edges.
So, in this case a common coin was made very special in my eyes for two reasons...virgin originality and a provenance that I can track from the mint to my hands.
Hope you all enjoyed the story. I am waiting for more specifics from Seth, which was part of the deal, so feel free Mr. Chandler to value add or correct any of the story I might have screwed up!
Enjoy the pics and any comments or similar stories are welcome and encouraged!
Very respectfully,
John
Sometimes however, a common coin will have appeal beyond its overall rarity that makes it special and very appealing to me...enough to draw me out of my bust/seated half cave to purchase it.
I bought this coin from Seth Chandler, a fellow board member that is a very adept and saavy grader and numismatist. Seth has become a good friend on the boards and off of it. We have had dinner on several occasions since we were geographically close when I lived in Monterey and he in Marin county. We talk frequently sharing stories of upgrades and raw coin purchases that we make and holder. He told me about this coin about a month ago that he bought raw and it is the story that drew me in.
This coin had been owned by the same family in San Francisco since the time of mintage in 1903. It has been in the family four generations and 102 years. The 4th generation owner took the coin to antique roadshows where it was appraised at 500$ (off camera) and offered to purchase. The man declined and eventually sold the coin to Seth who got it graded and gave me first shot at it.
This coin is an absolutely original and virgin coin, never having been subjected to dipping or cleaning in all of those years. It has an olive green thick rich skin with coppery original peripheral toning and outstanding luster that shoots through the patina. It is also well struck at the peripheries which is a bonus as the issue is generally weak at the edges.
So, in this case a common coin was made very special in my eyes for two reasons...virgin originality and a provenance that I can track from the mint to my hands.
Hope you all enjoyed the story. I am waiting for more specifics from Seth, which was part of the deal, so feel free Mr. Chandler to value add or correct any of the story I might have screwed up!
Enjoy the pics and any comments or similar stories are welcome and encouraged!
Very respectfully,
John
0
Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
It just proves once again that the simple things in life often turn out to be the best!
<< <i>provenance that I can track from the mint to my hands. >>
That in itself is worth a significant premium in my opinion.
Beautiful toning! Beautiful coin!
Mark
siliconvalleycoins.com
Capped Bust Half Series
Capped Bust Half Dime Series
J
siliconvalleycoins.com
You gotta love the chianti blush!!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If you know how to grade and don't mind taking a calculated risk from time to time, buying raw coins is where all the fun is. IMHO 85% of TPG coins don't have the right "look". Dipped, stripped, cleaned, ATed, borderline, overgraded, NCSed, etc. If you become friendly with a few of your local dealers chances are you can get first crack at alot of the fresh new stuff that comes in. Granted though, you really have to be comfortable with your grading skills. You gotta be prepared to walk to walk and pay lots of dough for raw coins. You have to be very selective on what you buy, most raw stuff is still cleaned, overgraded, overpriced, etc. But every now and then, a dealer doesn't really know what he has, unless someone spells it out for him, like PCGS, NGC, or a big time dealer. There is still alot of fresh raw stuff still out there, you've just got to find. I'm still chasing a PAN-PAC set that has been in the same family since they were issued. I've seen the coins, awesome!
Correction to John's story, I didn't buy the Half Eagle from the old man, but a dealer who bought it from the old man. I sent it to PCGS, they graded it 65, I think the coin has a 25% at a 66. I also bought a raw High Relief from the same dealer that eventually found its way into a PCGS 64 holder. Same type of story as John's new Half Eagle. Good Luck John and I hope you enjoy It.
PS You should see the stuff I bought yesterday!
but a dealer who bought it from the old man
rut-roh
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It is kind of like getting out of your S&P index fund and moving to microcaps in Micronesia!!
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