Is this a fair price on a 1824 bust half? - after auction update

Moonbiter

My daughter and I are going to the local coin club auction tonight and they have an 1824 capped bust half in Fine condition. Starting bid is $45. Is this a fair start and what should we do as our max, $55? I know it's a common coin but she really wants one like I do.

Thanks

I did not like the surface of the coin. It was very dark and the surface looked bad imo. It looked like there might have been some sort of crud that was damaging the coin, as it didn't look like old time crust. I told my daughter to pass on it and she did not have a problem with it.

mozin

It is hard to tell you what such a coin is worth without knowing more details about it. If the coin would be acceptable to one of the better grading services, then certainly $45 is a fair starting point. If there is cleaning or whatever that would make it unacceptable to the grading service, then I would say $45 is asking too much. I realize you probably will not be submitting such a coin for grading, only trying to steer you right on pricing.

For about $70, you should be able to buy a nice Fine 1824 CBH graded by ANACS or NGC.

maibockaddict

I concur with Mozin.

This just sold @ Heritage (ANACS F12)

Linky

And it was an R4...

Moonbiter

Thanks guys. I just wanted to make sure it was in the ballpark if it was a problem free coin. Don't know much about till tonight when we get to see it.

291fifth

Reserve is too high. Pass.

BillJones

Most Bust half dollars grade VF to EF. There is not much spread in the lower grades, which makes them less than attractive buy. Hold out for one in Choice VF. It will cost a little more, but it will be worth the wait and the extra $20 to $30.

Walkerguy21D

<< <i>Reserve is too high. Pass. >>


This is a snap judgement on a coin no one on this forum has even seen....I've belonged to two different coin clubs, and some of the old timers frequently under graded coins by today's standards, and I snagged some true bargains by paying OVER the reserve when others backed off. Judge the coin on it's merits, $45 may be too much, or may be a good deal, depending on the coin.
And to add, I would occasionally try to educate members on grading, but like everyone else, they would be pretty stuck on their opinions.

robkool

$50-$60 bucks is about average depending on the actual condition (problem free of course)...

291fifth

<< <i>

<< <i>Reserve is too high. Pass. >>


This is a snap judgement on a coin no one on this forum has even seen....I've belonged to two different coin clubs, and some of the old timers frequently under graded coins by today's standards, and I snagged some true bargains by paying OVER the reserve when others backed off. Judge the coin on it's merits, $45 may be too much, or may be a good deal, depending on the coin.
And to add, I would occasionally try to educate members on grading, but like everyone else, they would be pretty stuck on their opinions. >>



As BillJones says, this is a coin that comes much better for very little more money. If the coin actually is F12 it is marginal at the $45 reserve. Why not wait until a better one comes along ... they aren't rare or even scarce.

Walkerguy21D

My point was just because someone typed up in a pre meeting auction "1824 Bust Half Fine" it may be better than that - like VF or higher.
One of our members in the club was posting a 36P walker as AU in an auction - I told him the coin was MS, and a high level at that....he smirked and said it was AU by his standards....Ok - I bought it for $22 and it slabbed 64 at NGC on a bad day - the coin was a 65, and I got close to 65 money for it when I sold it. Don't assume anything in these small auctions....I've found undetected varieties, items with very low reserves, coins way under graded...along with all the junk to sift through as well.

Moonbiter

I did not like the surface of the coin. It was very dark and the surface looked bad imo. It looked like there might have been some sort of crud that was damaging the coin, as it didn't look like old time crust. I told my daughter to pass on it and she did not have a problem with it.