Where are all the nice problem-free 1806 large cents?

ElmerFusterpuck

I've been having a heck of a time finding one (VF on up), it seems like they are one with the unicorns. Any explanation from the experts out there?

rhedden

CVM has both a PCGS XF45 and a PCGS "AU details" (which I prefer, actually) on his website right now. Any nice example of an XF-AU Draped Bust cent is likely going to be in a major auction or in the case of an early copper specialist. In other words, you will be paying retail+ for it. The time to collect these was really the 1990s and earlier when prices were more favorable.

1806 is really not that bad of a date to locate, despite its lower mintage, because copper specialists hate the fact that there is only one die marriage, which is common. Contrast that with a year like 1794, 1796, 1797, or 1798 where numerous collectors include more than 100 examples of the date in their specialized variety collections.

shorecoll

In general, nice early copper is in strong hands. I don't know for sure, but because there's only one marriage people might use this date for die state collecting...which sucks up a lot of nice coins.

sniocsu

This is a coin that is a stopper for several reasons. From the mintage and the Red Book it seems easy; but it just isn't. This coin finds a home in many different types of collections. Anyone putting together a date set of large cents will need a nice 1806. Anyone putting together a variety set of large cents will need the S-270 for their set. Anyone doing a year set, etc. "Problem free" examples of these coins do become available from time to time; mainly in auctions or from one of the specialists as was mentioned previously. They are rarely available on the Bay or from non-Specialist dealers. And yes, this year with no problems carries a premium since it is essentially a one and done deal.
I will do my best to keep an eye out for a VF for your set; but I offer no promises.
-TEJ

BillJones

Most of the better early copper is not certified because many of those collectors don't like slabs.

As for the 1806 large cent, I had one during the last year I was in business. I paid too much for it, and ended up losing a few hundred dollars. It had great light brown color and smooth surfaces, but there was a minor mark on the obverse that seemed to kill it for most people.

The trouble with copper is that the prices for really nice pieces that are in everything from the Gray Sheet (The prices there have been stupidly low for years.) to "Trends" are all too low for really nice pieces with good surfaces and color. When you find a really great copper coin for the grade, expect to pay though the nose relative to what the guides say.

I agree with rhedden said. The days for buying nice early copper at "comfortable prices" are over. If you collect nice early copper, you can't afford to collect much of anything else. That's why I have repeatedly thought of putting together a date set of large cents and always shelved the idea because of the very high costs. I already have the 1793, '94 and '95 coins in my type set, but the 1799 and 1804 coins are simply out of sight price-wise.

Walkerguy21D

Yes, nice copper is in strong hands and tough to come by, but other earlier dates are far easier to obtain than the '06.
At least part of the issue is that the mintage given most likely includes large cents delivered with earlier dates on them.
Did one set of dies really produce 348,000 cents? I doubt it. George W. Rice's commentary from many decades ago was that the
1806 is scarce in any condition, and rare in uncirculated.....they don't seem to have gotten any more common over the years!

I totally lucked into my nice VF, when a wholesale pal acquired some nice early coins and was selling them for ~Bid. I bought it for
stock, didnt have an immediate customer, and put it away. Later I decided to do a date collection and this was one of the dates
missing.....then while going through a stock box ran across it. It is NFS now!