Unique 1870-S Half Dime Sold by Legend Numismatics

RYK · July 17, 2009 8:49AM

In the old days, I would read about it here first.

Today, I read about it first on Twitter.

Link

drddm · July 17, 2009 8:52AM

Where have you been RYK? I thought you left us for good.

Glad to see your posts again.
Welcome back.

abitofthisabitofthat · July 17, 2009 9:08AM

<< Where have you been RYK? I thought you left us for good.

Glad to see your posts again.
Welcome back. >>

That was my first thought too.

stinkinlincoln · July 17, 2009 9:13AM

Great coin, collection, and read.

One question though, why have this coin included in the registry with only one known? That doesnt seem fair.

Steve27 · July 17, 2009 9:16AM

Was this coin displayed at Coinfest?

LanLord · July 17, 2009 9:17AM

You should see how good this coin looks in my dansco album!!!!!!!

Longacre · July 17, 2009 9:20AM

Welcome back!!

kranky · July 17, 2009 9:25AM

Good to see you, RYK. It's not everyday a unique coin changes hands. Surprising that a collection like that would trade intact. I would think most people interested in a collection of that caliber would enjoy putting it together vs. buying it with a single check.

Barndog · July 17, 2009 9:31AM

the Law collection of capped bust half dimes (basic set, circulation strikes) held all top pops. Wonder who the new owner is?

JupitarCoins · July 17, 2009 9:42AM

Your that Steelers fan thats been missing. Right?

Baley · July 17, 2009 10:07AM

It must be still be the old days for some of us; Not a tweeter yet, so read about it here first.

Longacre · July 17, 2009 10:08AM

No one is happier that RYK is back than Longacre, but is anyone else disturbed that our favorite interventional radiologist tweets?

stinkinlincoln · July 17, 2009 10:15AM

<<is anyone else disturbed that our favorite interventional radiologist tweets>>

Im not partial either way as to his tweeting, just as long he doesnt ask me to twit his tweeter...

Im not down.

adamlaneus · July 17, 2009 10:19AM

Interesting set of coins. Nothing I can relate to, though.

I also have a problem relating to Twitter and i'm "in that industry" so to speak. I'm getting old.

My spouse gold coin came today. It was still in it's capsule. A minor miracle.

I'm glad it is friday.

It's hot.

Where is my beer?

RYK · July 17, 2009 10:26AM

<< It must be still be the old days for some of us; Not a tweeter yet, so read about it here first. >>

OMG, a Baley post! Now that's worth tweeting about.

CaptHenway · July 17, 2009 10:30AM

<< In the old days, I would read about it here first.

Today, I read about it first on Twitter.

Link >>

Ah, yes.......I remember this coin well. We graded this piece at ANACS as an AU-55 because I think that I had not yet invented the grade of AU-58. Bowers later catalogued it for auction as an AU-55.

Question: Is it receiving six rarity points, or nine?

TD

CaptHenway · July 17, 2009 10:30AM

Oh, and good to see you back!
TD

Raybo · July 17, 2009 10:31AM

<< the Law collection of capped bust half dimes (basic set, circulation strikes) held all top pops. Wonder who the new owner is? >>

I just wonder BD?

Aegis3 · July 17, 2009 10:47AM

<< 

<< In the old days, I would read about it here first.

Today, I read about it first on Twitter.

Link >>

Ah, yes.......I remember this coin well. We graded this piece at ANACS as an AU-55 because I think that I had not yet invented the grade of AU-58. Bowers later catalogued it for auction as an AU-55.

Question: Is it receiving six rarity points, or nine?

TD >>

Well, if you called it a 55 because there was no 58 to call it, could it have only received one rarity point? (55 masked as 58 to 64). I do view, if I were to use numerical grades, that 58 is, with regards to circulation, the grade below 63+.

(Of course, hasn't it also been slabbed as a 63?)

WoodenJefferson · July 17, 2009 10:54AM

WEnt into the hands of a Western collector...isn't tradedollarnut out west?

MrEureka · July 17, 2009 11:02AM

I think it would be cool to see the collection raw, loosely piled (not so) high on a table. Then, it would be fun to sort sort them out and put the coins in a single Whitman bookshelf album. Too bad there's no opening for the 70-S.

Lakesammman · July 17, 2009 11:54AM

Congrats to the old and new owner - it's the stuff of Legend(s).

CaptHenway · July 17, 2009 12:14PM

<< I think it would be cool to see the collection raw, loosely piled (not so) high on a table. Then, it would be fun to sort sort them out and put the coins in a single Whitman bookshelf album. Too bad there's no opening for the 70-S. >>

You must have one of the OLD albums!!!!!!!

CaptHenway · July 17, 2009 12:18PM

<< 

<< 

<< In the old days, I would read about it here first.

Today, I read about it first on Twitter.

Link >>

Ah, yes.......I remember this coin well. We graded this piece at ANACS as an AU-55 because I think that I had not yet invented the grade of AU-58. Bowers later catalogued it for auction as an AU-55.

Question: Is it receiving six rarity points, or nine?

TD >>

Well, if you called it a 55 because there was no 58 to call it, could it have only received one rarity point? (55 masked as 58 to 64). I do view, if I were to use numerical grades, that 58 is, with regards to circulation, the grade below 63+.

(Of course, hasn't it also been slabbed as a 63?) >>

Possibly. I remember being at an ANA convention when Al Blythe asked me to come over to look at it with him at Jay Perrino's table and laughing at the grade on the holder, but I honestly cannot remember if it was a 3 or 4 at the time.

TD

Bayard1908 · July 17, 2009 12:19PM

The 1870-S half dime was originally valued the same as an 1804 dollar. In this sale, the coin was valued at $1.4M, while an impaired 1804 dollar just recently sold for $2.3M.

CaptHenway · July 17, 2009 12:27PM

<< The 1870-S half dime was originally valued the same as an 1804 dollar. In this sale, the coin was valued at $1.4M, while an impaired 1804 dollar just recently sold for $2.3M. >>

So I guess they use 1804 dollar grading rules, huh?

Bayard1908 · July 17, 2009 12:30PM

<< 

<< The 1870-S half dime was originally valued the same as an 1804 dollar. In this sale, the coin was valued at $1.4M, while an impaired 1804 dollar just recently sold for $2.3M. >>

So I guess they use 1804 dollar grading rules, huh? >>

Or Laura drove a really hard bargain. If I owned the coin, $2.3M would have been the starting point for negotiation.

coinlieutenant · July 17, 2009 12:51PM

RYK....who is he again?

Bayard1908 · July 17, 2009 12:52PM

<< RYK....who is he again? >>

Longacre's imaginary boyfriend

MidLifeCrisis · July 17, 2009 12:56PM

Now that's just wrong...

coinlieutenant · July 17, 2009 1:00PM

I remember now!!!

garsmith · July 17, 2009 1:12PM

Welcome back dude

Halfsense · July 18, 2009 2:31AM

A version of the news release and photo were posted with a link on the PCGS home page on Friday before the information appeared publicly elsewhere.

Click here for news release on PCGS web site announcing sale of 1870-S half dime.

-donn-

ernie11 · July 18, 2009 7:34PM

<< 

<< 

<< The 1870-S half dime was originally valued the same as an 1804 dollar. In this sale, the coin was valued at $1.4M, while an impaired 1804 dollar just recently sold for $2.3M. >>

So I guess they use 1804 dollar grading rules, huh? >>

Or Laura drove a really hard bargain. If I owned the coin, $2.3M would have been the starting point for negotiation. >>

I was surprised at "only" $1.4 million. I would assume that any coin that unique would go for a multi-million amount.

speety · July 18, 2009 10:29PM

<< 

<< 

<< 

<< The 1870-S half dime was originally valued the same as an 1804 dollar. In this sale, the coin was valued at $1.4M, while an impaired 1804 dollar just recently sold for $2.3M. >>

So I guess they use 1804 dollar grading rules, huh? >>

Or Laura drove a really hard bargain. If I owned the coin, $2.3M would have been the starting point for negotiation. >>

I was surprised at "only" $1.4 million. I would assume that any coin that unique would go for a multi-million amount. >>

As another comparison point, the Eliasberg 1870-s seated dollar (AU, third finest known) sold for about the same amount ($1.3M) about a year ago! Seems cheap for the 1870-s.

As for the grade debate, does it really matter? It's the finest known, it's the worst known. What does it matter? lol

roadrunner · July 19, 2009 5:51AM

In the current times, $1.4 MILL seems like plenty of money for a circulated half dime, even if the only one known. It's price has only more recently "flourished" because of the ability to include it into a "complete" registry set. There's really no comparison in overall demand to say an 1804 or 1870-s silver dollar vs. the 1870-s half dime. The 1870-s half dime is needed only for a complete set by the ultimate well-heeled collectors. It doesn't bring the same fame of ownership as owning one of 5-15 specimens of other well known rarities. Even the tiny 1792 half dimes from "Martha Washington" silver have a more compelling story. The half dime was late to the game only having been publically known for the past 30 or so years. Rarities like 1885 Trade Dollars and 1804 dollars have been with us for far longer. There might only be 1, 2, or 3 such half dime collectors in the world. If one or two decide to leave, that's a huge impact on the demand, even for a unique coin. And size does matter, esp. in a series not all that well collected at the finest known levels. I'd take an 1870-s dollar over the 1870-s half dime. And if the 1870-s quarter ever shows up, I think that would be monumental as well. But like the half dime, it would be late to the game to get the same respect and recognition as other rarities.

As stated in the PCGS press release, I found it odd that just "many" of the coins from this collection are of CAC quality. One typically sees words like all, most, majority, etc. when describing an ultimate finest known collection.

roadrunner

Coinosaurus · July 19, 2009 7:42AM

I'm amazed that PCGS posted a press release that referred to the ckack bean.

Didn't this coin sell for about $800K in the Jim Grey sale? So $1.4M is not a bad return at all.

LeeG · July 19, 2009 8:08AM

<< 

<< It must be still be the old days for some of us; Not a tweeter yet, so read about it here first. >>

OMG, a Baley post! Now that's worth tweeting about.

>>

Don't tweet but agree with the rest of your statement!

MidLifeCrisis · July 19, 2009 8:48AM

LeeG and RYK posting on the forum again...all is right with the world.

tradedollarnut · July 21, 2009 7:36AM

<< 
As stated in the PCGS press release, I found it odd that just "many" of the coins from this collection are of CAC quality. One typically sees words like all, most, majority, etc. when describing an ultimate finest known collection.

roadrunner >>

I do know that all except 3 coins stickered

oreville · July 21, 2009 9:14AM

Why is that PCGS can say the uh word that equates to the stickems and we can't?

CaptHenway · July 21, 2009 3:04PM

<< Why is that PCGS can say the uh word that equates to the stickems and we can't?

>>

Tis the Golden Rule......them as has the gold, make the rules!!!!!!

Analyst · July 11, 2012 9:38AM

The unique 1873-CC ‘No Arrows’ dime will be auctioned next month. In today’s column, I mention the unique 1870-S half dime as well.

Unique 1873-CC ‘No Arrows’ Dime

Unique 1870-S Half Dime

Coins that have been auctioned for more than $2 million

Zoins · July 11, 2012 10:02AM

It's interesting that (a) mint records show 0 1870-S half dimes and (b) the SF mint had 6 half dime die pairs on hand.

Cool coin though it might be cooler to have 6 in existence, one for each die pair!

TwoSides2aCoin · July 11, 2012 10:48AM

yummy- a dream coin

EagleEye · July 11, 2012 1:13PM

o I guess they use 1804 dollar grading rules, huh?

Market grading - Why grade it at all. Grade it "I have it and you don't"

FredWeinberg · July 11, 2012 11:45PM

If anyone is interested in a fun story regading
this 1870-S Half Dime, come by my table at the
ANA next month.

I don't feel like typing out the whole story,
and it loses something without the spoken
word, but I have a funny story about the
1870-S Half Dime when I happened to be
in Rarcoa's office just after the discovery of it;
I had some fun w/ Ed Milas - will share it at
the ANA.

Unique 1870-S Half Dime Sold by Legend Numismatics

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