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can i have your thoughts on this 1868P half eagle i failed to win?

fcfc Posts: 12,788 ✭✭✭
ebay link to the auction.

it has a mintage of 5700.
it is mostly found in xf-au grades. the exception is MS and very low
grades like P01-VF20. It is rarely found in those grades.

Heritage has sold about 32 of them. A link to their archive.
heritage link.

I feel the coin is basically graded properly but the pics do not allow
a real determination. So my bid was basically a wholesale shot at it.
VF35. not that i do not trust pcgs.. but they tend to be too lenient
on rare dates and i could not tell if it was cleaning lightly. I cannot
even see a dab of luster.. but once again the pics do not allow
for it.

I took a shot in the dark with a bid of 950ish but i knew someone
would chase it harder then I. I thought about a higher bid but
i reckoned that is chasing a coin and putting myself in a bad situation.

i am concerned about the gouge near liberty's lips that really
could be ugly in hand. i have a feeling i will see this coin again
in an ngc slab as xf45 to au50 :-|

your thoughts? thanks.

Comments

  • The coin looks nice--a solid XF40. It looks relatively original--maybe a light dip at one point but not at all washed out.

    Coins like that don't come along too often. Personally, I'd have gone for it if I was looking to purchase it for a personal collection.
  • RYKRYK Posts: 35,772 ✭✭✭✭✭
    As much as one can tell from the photo, I thought it was properly graded and worth about $1000. I do not see it as an upgrade at NGC or anywhere else. Of course, if it did 45, it would be a $1500 coin. The same buyer purchased an 1866-S NM $5 from me and immediately flopped it to Heritage.
  • fcfc Posts: 12,788 ✭✭✭
    according to heritage they come around very often. several
    sold in the last few years.
  • BECOKABECOKA Posts: 16,957 ✭✭✭
    I have a feeling the price on half eagles are going to go up 15-20% in the next few months. I would have bought at that price. image Looked fairly original and graded properly within +/- 5. The reverse either had extra wear or it was a weak strike.

    I am sure another will appear again. The question is will it cost less or more and will it have better eye appeal.
  • orevilleoreville Posts: 11,772 ✭✭✭✭✭
    fc:

    Next time such a coin is on Heritage, give them a call and see if they can take an extra picture for you.

    I have asked before and they were very helpful.

    This coin looked acceptable for the grade.

    Cleaned? At most, an old light cleaning which no longer detracts.

    I agree with Becoka on the future prices of these babies.
    A Collectors Universe poster since 1997!
  • fcfc Posts: 12,788 ✭✭✭
    thanks everyone for their thoughts. i liked the coin too
    but not enough to sling > 1000 at it with bad pics on ebay
    and no clear return policy.

    i agree with ryk that the winner is a flipper. maybe a heritage employee
    who is finding coins for their auctions?

    i do expect to see it again and will bid on it again at the same level.

    i do not consider it rare.. just a low mint date that was kept by
    quite a few collectors.. thus so many XF-AU coins.

    Now 1863P is a rare date!

    As for these coins going up in price.. i am not so sure.
    Gold going up will of course peak interest but all in all these coins
    are getting resold within a year or two. Too many collectors are not
    holding onto their coins for a decade at a time.

    Patience is the key and I never regret not winning. After all, a better
    coin may be right around the corner.

    My 1860-S low grade half eagle is an example of a coin that I have
    only seen sold once and heritage has sold quite a few less of it.
    It is also no-motto and gets bonus points for that. God never did belong
    on money. I still shake my head at that concept.

    I am always on the hunt and that is the best part of collecting.
    Getting a coin every month will probably result in me over extending myself
    and getting burnt out. Two every year will make me relish and enjoy the
    few i have.

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