1850-O Gold Dollars-Why so "cheap" with such a low mintage?

Rampage

I know there are lower mintage gold out there, but why is this one so cheap when compared to others?

Thanks, Richard.

Deagle74

I'm affraid that only the date and mint (at least in case of New Orleans Mint) is not sufficient factor to say these are cheap. We need a grade to tell if something is cheap in comparison to other dates.

The survival rate is more important than mintage itself and this one is the scarsest New Orleans gold dollar. So you may be right From 14.000 minted about 200-300 survived (in all grades). So I believe the grade would be the final factor.

This one is not cheap 4 me
BIN 1850 O $1 MS63

Rok

P.S.
You also didn't tell what is cheap 4 you?




R.

PerryHall

Most collectors buy these as type coins. Very few collect these by date because of a few really rare dates that make this series too hard to complete---the stopper is the 1849-C Open Wreath.

ambro51

Im not sure I agree on a them having a low price. Maybe relative to some other coins in other series, but in the GD series they hold their own price wise.

Perry the 49C OW is not really considered "part" of the coins you need to complete the GD series, at leas with NGC it is a non point bonus coin. Another factor regarding the 50-O is that during this period, the gold dollar was a very active circulating coin. Especially so down south, and later in the west. Many of these found are worn, genuine circulation wear, which in turn like every coin knocks down values. Genuine MS coins, as another poster pointed out, bring LARGE money. The 1850 philadelphia issue is in this camp also, in that circulated coins carry a very small premium over other T1 dollars but the MS coins are rare and pricey.

Type 1 gold dollars were actively withdrawn from circulation by the federal government during the mid 1850s to the civil war era (except in the west). Today only 1 percent of those struck are still with us, and an even smaller percentage of these are in problem free numismatic condition.

Rampage

I will post a scan of it tonight. I got the coin Monday night only to come home to see my house was broken into again, so I have been scarce around the message boards the last two days trying to get stuff at home fixed back up. Second time in 45 days in case you missed my first incident back in November.

Anyway, the coin looks VF to XF to me. I don't do gold coins as a habit, but it looked neat and I needed it as a type coin. I like the "dirty" look of it.

Thanks for the replies...

ambro51

Broken into AGAIN?

I like gold dollars but Im thinking you should have bought a German Shepard instead!

Rampage

Yeah, I probably would have done that if I had gone home first. I will be getting a dog to help deter crooks in the future. It really is a rather scary thing to happen, especially twice in a short time frame like this. I am beginning to think it is someone I know. But, you never know I guess. Not to really get off topic, but I had to call the cops out again last night, because when I was plugging my old TV back in to have sound in the house, I noticed what looked like a drop of blood on the power strip (which is less than two months old). The crooks broke my window to get in and I am thinking they got cut and spilled over a little. Hopefully, they will run DNA on it and get some good information from it.

ambro51

I think youll find the police will have little desire to help you out with DNA testing on a drop of blood. Maybe if there was a murder or something.......


The dog is a good idea. Few thieves want to tangle with the uncertainty of a loudly barking dog. Also, have you considered a professional alarm system installation? That way at least SOMEONE would be on the watch.


nice thing with a gold dollar though, you can hide it under a penny and hopefully no one will notice it!


I have a friend who lives in Phoenix AZ and there is a lot of breaking in going on there. This guy is really clever. His house has these metal shades which draw down to exclude the hot hot sun when desired. He has rigged all of them to lock down, along with the doors locking....when the interior alarm system is triggered. And, to top it off, his massive stereo system begins to play "Ride of the Valkyries" at 135 decibels ten seconds after the doors and windows lock down. Ill bet the first thief to get caught inside THAT will have a wet pair of pants by the time the police arrive!!!

Rampage

<< <i>nice thing with a gold dollar though, you can hide it under a penny and hopefully no one will notice it! >>



lol That was funny. Right now, it is locked in my safe. I am having an alarm system installed tomorrow. I already signed the papers and am now just waiting for them to come out. I should have done it sooner.

mikeyg

Sorry to hear about the break ins Rampage.The alarm system and dog should help.Good luck to you.

ambro51

QDB has a few things to say which interpert the rarity of this coin. Coming of a high mintage in 1849 of 215,000, there is no explanation of the low mintage of 14,000 the year later. He speculates it was due to lack of request for the denomination by depositers of bullion. A survey of thousands of auction records of the 19th and early 20th century show these coins were virtually unheard of in collections. Beginning in a significant way in the late 20th century, MS coins were regularly included in auctions. Many could have been more properly graded as AU.

"Mint state population 50-70, very scarce in MS Most survivors grade about MS60 many upgraded from AU. only 14 certification events at MS63 and MS64, including duplicates. certified pop MS63 and higher, 14.

Total population, circulated, 300-400, scarce, grades are mostly VF and XF. Only one variety known, 6 pairs of dies sent to NO for coinage that year.