Type II gold dollars
shirohniichan
Posts: 4,992 ✭✭✭
I've been looking for a TII gold dollar for the past 6 months for a type set.
What amazes me is how much damaged (bent, polished, ex-jewelry, etc.) coins sell for. The difference between the net grade prices realized are almost the same price as Heritage's price guide on undamaged coins.
Is there a bull market on TII dollars in particular, or is it a general trend?
What amazes me is how much damaged (bent, polished, ex-jewelry, etc.) coins sell for. The difference between the net grade prices realized are almost the same price as Heritage's price guide on undamaged coins.
Is there a bull market on TII dollars in particular, or is it a general trend?
Obscurum per obscurius
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<< <i>Type collectors only real option are those produced at the mother mint. Total Philadelphia mintage for 1854 and 1855 is about 1.5 million. I have no clue how many are extant. Branch mint type II dollars are much more costly with the one below going for stupid money.
>>
Fatman, that 1 coin might be worth more than my whole collection!!!
I really like FatMan's coin a lot. (IIRC, I was at the show when he bought it. )
Someone like Mark Feld would be a good person to find one for you if you are having trouble.
WS
Looking at Heritage's auction archives, I see that a bent 1854 with MS60 details sold for $1,380 and an unimpaired NGC AU58 sold for $977.50 in the same auction. Even if the bent coin had fractionally better details, shouldn't it have sold for less than an unimpaired coin? How many "doggy" AU58s are there, anyway?
What may have confused me was that unsold coins "closed" at insanely high prices (meaning the sellers were asking unimpaired prices for their bent, ex-jewelry, polished, etc. coins).
Obscurum per obscurius
<< <i>In the past, I have owned an 1854 and an 1855. I love the design. AU-58 is the value grade, as the prices rise rather steeply in MS. >>
IMO, Type 2 gold dollars are vastly overpriced in AU-58. When I was searching for my type set, probably 2/3 of ALL AU-58 gold dollars I saw were the Type 2s which despite high availability, sold for $1000+.
I guess that's because MS pieces are rather uncommon so there's much more pressure on AU grades.
<< <i>I guess that's because MS pieces are rather uncommon so there's much more pressure on AU grades. >>
The type 2 gold dollar is one of the keys to the standard 12 piece gold type sets (the $3 being the other key) so there is a lot of demand from type collectors for this popular coin.
Worry is the interest you pay on a debt you may not owe.
I would guess the coin was significantly better than MS60 w/o the damage and that's why the price was so strong.
<< <i>
<< <i>I guess that's because MS pieces are rather uncommon so there's much more pressure on AU grades. >>
The type 2 gold dollar is one of the keys to the standard 12 piece gold type sets (the $3 being the other key) so there is a lot of demand from type collectors for this popular coin. >>
During the time I was building my 12 piece set (last May), those 2 coins were the biggest expenses. $1,000 on the type 2 pictured above, and $1650 on an NGC 55 1856 $3 gold. They are definitely the "bich of the bunch".
<< <i>Looking at Heritage's auction archives, I see that a bent 1854 with MS60 details sold for $1,380 and an unimpaired NGC AU58 sold for $977.50 in the same auction. Even if the bent coin had fractionally better details, shouldn't it have sold for less than an unimpaired coin?
I would guess the coin was significantly better than MS60 w/o the damage and that's why the price was so strong. >>
If that's the case, ANACS new grading system confuses me. The labels used to read, "MS65 details,Polished, bent, Net MS60". In that case, the coin probably looked really good, even if impaired. If the new labels read, "Bent, MS60 details", I imagine it would look like a baggy MS coin that was bent.
BTW, beautiful coin, FatMan.
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Obscurum per obscurius
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these had been strongly priced a few years ago when this thread was first posted, but have come down in price somewhat in the time since then
Liberty: Parent of Science & Industry
Here are the two pieces in my collection, but 1854s. The first one is graded MS-64 and it does make the grade although it does show in this photo.
This one is an AU-55, and it used to be my #1 piece. I paid a premium for this coin because because the strike and the eye appeal. I just did not feel like losing money on it because it is in an AU-55 holder so I have held it.
<< <i>Nice AU58s can be hard to find; some get cracked out looking for MS grades through resubmission because of the huge spreads. I had an AU50 I sent in to NGC recently after a critical analysis by a dealer, too many bubbles on the rim possibly indicative of a fake, he said, at any rate that coin is a tough sell because of problems, back at NGC for an appearance review.... >>
Some 1854 Type II gold dollars were struck with rusted dies. The two pieces I have (shown above) are the same variety (there are 5 varieites of 1854 Type II dollar to my knowledge), and they both show die rust. I once owned one that might be in an MS-65 holder today that had die rust on the obverse between the letters.
<< <i>just picked up this example for my type set
these had been strongly priced a few years ago when this thread was first posted, but have come down in price somewhat in the time since then >>
Nice looking coin.
Overall, other than the four branch mint issues, I have little personal interest in the short series.
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)
from rarer gold coins towards bullion. Apparently there are plenty of these scarcer gold type coins to satisfy demand. I would agree with Bill Jones that if you look at the pops,
the Type 2 gold dollars and $3's have some pretty substantial numbers. Buyers can afford to be very fussy here. Rather than a bull market, I'd call these specialty type coins to
be in a dead market other than for the key/underrated dates in problem free condition and choice/gem mint state pop tops.
<< <i> Nice looking coin.
Overall, other than the four branch mint issues, I have little personal interest in the short series. >>
Thanks, I liked it at NGC AU55, here are the seller's scans, my pics tilted and lit up to show the remaining luster
This was the last coin I needed for the 12 piece gold type set, and only my third gold dollar, I just find them too small to really enjoy, in fact I went after the classic head and no motto coronet gold long before finding a type 2 gold dollar I liked at what I considered a fair price ($500), agree with RYK, it's not a series I'd be interested in trying to finish, particularly in mint state.
I do like the clash marks and think they add to the interest, having a complete Liberty profile on the reverse is kind of cool
Liberty: Parent of Science & Industry