The 1807 small stars bust half- Why so inexpensive?

TahoeDale

In the recent Byer's sale of half dollars, a very uncommon date and grade appeared--the 1807 small stars CBH. It sold, after spirited bidding, and is now for sale for under $60,000.

The coin is graded MS 65(PCGS) and is, according to the seller, a pop 1, none higher. Only 5 coins have been graded in MS by PCGS, and while there was another(?) MS 65 in the Pryor sale(1996), Eliasberg did not have this variety in his "complete collection".

Recently, several lincoln cents, mercury dimes, & Walkers, have sold for way over $60,000. See the recent ANR sale in Baltimore, 2006.

Why do we not value a coin that is 200 years old, with a miniscule mintage, and a micro survival rate, more that the popular 20th century series mentioned above?

Maybe someday.

DAM

My thought is registry fever, competition, and high levels of disposable income.

Perhaps in a few years it will work itself out where 200 year old coins will come into favor and command price levels above those of the 20th century pieces.

Until then...

Billet7

By all accounts it doesn't make sense...maybe most rich people are more attracted to bright and shiny objects than they are to aged beauty and history...just a guess.

docday2003

it's all about supply and demand. I have coins which are solo finest, from the 1800s, certified as MS67, which would command only a few thousand dollars. Why? Because they are Canadian coins, and there are fewer collectors of Canadian coins than USA coins.

ProofCents

Think of a Picasso painting even a ugly one will sell for far more that a less well known painter with a beautiful work

Some coin series have more buyer or are more popular

COALPORTER

I suspect that some of these high priced coin deals never really occur, and are just reported to generate a buzz. Much like some business deals that are reported to the media at values that far exceed the truth.

Then it makes spending a few grand on a coin no big deal.