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2013 Newp #2...Legal Tender ?
jayPem
Posts: 4,121 ✭✭✭✭✭
This beauty also arrived yesterday...what it may be lacking in pure originality, is made up for by being rather attractive IMO, and just a cool coin. It definately needs to get into an edge view holder asap...It's interseting to imagine the possible transactions that this piece might have seen in early America. You may have been able to buy a small farm with one of these !
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My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
<< <i>Nice coin, but I doubt you could have bought any land with only $15-16. >>
Around the turn of the century, some land where I live sold for as little as a quarter per acre. I know of a 4000+ acre tract that supposedly was bought for only $1000.
My great grandfather bought a 52 acre farm in Hampden Maine in 1833 for $450 - No Money Down! I am not aware that he ever paid anything on it. His wealthy brother-in-law bought it in 1834 for $266 (plus the $450 (?) mortgage.) In 1835 the brother-in-law sold it for $1100. I don't know why the greatly inflated price. He was paid $500 cash and given a $600 mortgage deed. The buyer defaulted and the brother-in-law got the farm back again. He sold it to his brother for $300 in 1843 and this second brother sold it to my grandfather for $272.54 in 1845.
<< <i>My great grandfather bought a 52 acre farm in Hampden Maine in 1833 for $450 - No Money Down! I am not aware that he ever paid anything on it. His wealthy brother-in-law bought it in 1834 for $266 (plus the $450 (?) mortgage.) In 1835 the brother-in-law sold it for $1100. I don't know why the greatly inflated price. He was paid $500 cash and given a $600 mortgage deed. The buyer defaulted and the brother-in-law got the farm back again. He sold it to his brother for $300 in 1843 and this second brother sold it to my grandfather for $272.54 in 1845. >>
I assume it went up in value eventually!
60 years into this hobby and I'm still working on my Lincoln set!
Grandfather sold it to his daughter for $1 in 1895. I assume she took over outstanding debts.
My father bought it in 1901 for $1 plus agreeing on a mortgage document to support and eventually bury his parents.
My father sold it in 1906 for $2000 and moved to very nearby Bangor. His still living mother signed off on the mortgage.
The man who bought the farm for the apparent inflated price of $1100 in 1835 also paid $100 to my great grandfather in order to get my great grandmother to relinquish her rights of dower which she had not done in the 1834 deed. In those days widows had a life 1/3 interest in any real estate their husbands had owned in the course of the marriage. It turns out in this case that she predeceased her husband.
This meant an aged farmer with a teenage bride could not sell his farm with clean title since she was too young to sign a contract. Eventually Maine passed a law that any married woman was an emancipated adult. I wonder if any of my female married high school classmates used that to buy beer.
I believe dower is now extinct. Real estate is longer the chief measure of wealth.
<< <i><<Nice coin, but I doubt you could have bought any land with only $15-16. >>
My great grandfather bought a 52 acre farm in Hampden Maine in 1833 for $450 - No Money Down! I am not aware that he ever paid anything on it. His wealthy brother-in-law bought it in 1834 for $266 (plus the $450 (?) mortgage.) In 1835 the brother-in-law sold it for $1100. I don't know why the greatly inflated price. He was paid $500 cash and given a $600 mortgage deed. The buyer defaulted and the brother-in-law got the farm back again. He sold it to his brother for $300 in 1843 and this second brother sold it to my grandfather for $272.54 in 1845. >>
Is it possible your grandfather was around in 1845 ?
grandfather 1821-1903
father 1873-1956
self 1935-
My half brother (1899-1957) was drafted (last call) for World War I, but never inducted due to the Armistice.
<< <i><<Is it possible your grandfather was around in 1845 ? I suppose it is...but I think that must be an interesting story in it's own right>>
grandfather 1821-1903
father 1873-1956
self 1935-
My half brother (1899-1957) was drafted (last call) for World War I, but never inducted due to the Armistice. >>
That's amazing ! Both your father and grandfather having kids a bit later in life...really extends the generations back in time quite a way !
<< <i>Real estate is longer the chief measure of wealth. >>
No, but like old coins, they're not making any more of it. I'll take either.
Cool story.
Lance.
Actuallly, my great great grandfather did it also. I have only estimated dates for the earlier generations.
great great grandfather 1747-1844 and for his silver wedding aniversary
great grandfather 1797-1859 youngest
grandfather 1821-1903 eldest
father 1873-1956 youngest
myself 1935 - youngest
<< <i><<That's amazing ! Both your father and grandfather having kids a bit later in life...really extends the generations back in time quite a way !>>
Actuallly, my great great grandfather did it also. I have only estimated dates for the earlier generations.
great great grandfather 1747-1844 and for his silver wedding aniversary
great grandfather 1797-1859 youngest
grandfather 1821-1903 eldest
father 1873-1956 youngest
myself 1935 - youngest >>
Wow!! Please say they were all coin hoarders!!
<< <i><<That's amazing ! Both your father and grandfather having kids a bit later in life...really extends the generations back in time quite a way !>>
Actuallly, my great great grandfather did it also. I have only estimated dates for the earlier generations.
great great grandfather 1747-1844 and for his silver wedding aniversary
great grandfather 1797-1859 youngest
grandfather 1821-1903 eldest
father 1873-1956 youngest
myself 1935 - youngest >>
That's incredible - so when is your wife due?
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor