Newp - 1875 S/CC T$

AMRC · March 27, 2015 11:14AM

Just picked this up today from a customer. Last one sold (this very one actually) in 2004

What do you think it will bring in Auction today?

It is a Top Pop. Will the Chop detract or add to the total value?

sparky64 · March 27, 2015 11:20AM

I like chopmarks but I'd rather not have one on that coin.

Really gorgeous coin. Looks pristine.

DoubleEagle59 · March 27, 2015 11:25AM

That is one fine looking ms64!!

Wabbit2313 · March 27, 2015 11:26AM

Too bad about the chopper on that thing. What a nice coin.

lasvegasteddy · March 27, 2015 11:33AM

<< Too bad about the chopper on that thing. What a nice coin. >>

+1

Goldbully · March 27, 2015 11:42AM

<< Just picked this up today from a customer. Last one sold (this very one actually) in 2004

What do you think it will bring in Auction today?

It is a Top Pop. Will the Chop detract or add to the total value? >>

Corrected link... in 2004

tradedollarnut · March 27, 2015 11:47AM

That coin was offered to me years ago at like $5k and I just laughed. But then it brought a decent amount in auction. I would probably pay $3500 now so it might bring more.

tradedollarnut · March 27, 2015 11:50AM

Chop detracts greatly from the value on that particular coin

Walkerfan · March 27, 2015 11:51AM

I think it's a beautiful coin regardless and it should bring good money.

Walkerfan · March 27, 2015 11:54AM

<< Chop detracts greatly from the value on that particular coin >>

How much is it worth without the chop in today's market?

Goldbully · March 27, 2015 11:59AM

Superb lustrous silver coin....I prefer my Trade $1's w/o CM's

Although.....Is there not chop history in play here?

tradedollarnut · March 27, 2015 12:12PM

<< 

<< Chop detracts greatly from the value on that particular coin >>

How much is it worth without the chop in today's market? >>

$30k?

Walkerfan · March 27, 2015 12:15PM

<< 

<< 

<< Chop detracts greatly from the value on that particular coin >>

How much is it worth without the chop in today's market? >>

$30k? >>

Interesting---Thanks.

oih82w8 · March 27, 2015 1:34PM

Having a chopmark and being graded MS64...how crazy is that?

Top Pop too!

AMRC · March 27, 2015 1:39PM

<< That coin was offered to me years ago at like $5k and I just laughed. But then it brought a decent amount in auction. I would probably pay $3500 now so it might bring more. >>

I love this logic. No wonder why you are so successful!

11 years after it brought $7,000+ in auction you would pay $3,500! Are you sure you are not one of them-there dealers this forum is so fond of?

tradedollarnut · March 27, 2015 1:42PM

It will bring what it will bring. I was shocked someone paid $7k then and I will be just as shocked if someone pays that now. If you had a clue what it was worth, you wouldn't be spamming it here now...or would you?

tradedollarnut · March 27, 2015 1:49PM

<< 

<< That coin was offered to me years ago at like $5k and I just laughed. But then it brought a decent amount in auction. I would probably pay $3500 now so it might bring more. >>

I love this logic. No wonder why you are so successful!

11 years after it brought $7,000+ in auction you would pay $3,500! Are you sure you are not one of them-there dealers this forum is so fond of?

>>

Since you threw the first stone - what exactly did you pay for this coin that you have no clue what is worth?

AMRC · March 27, 2015 1:59PM

The family paid $33,000 for it back in March of 2008 from a certain company we have all heard of. I do not have the invoice yet, so I cannot mention any names. And yes I am unsure how to value it and that is why I put it up here. But now you have foiled my diabolical spamming plot!

I am so ashamed.

tradedollarnut · March 27, 2015 2:10PM

OMG. They are soooo buried. That is shameful. They will be lucky to get back 25 cents on the dollar. So sad

tradedollarnut · March 27, 2015 2:21PM

chopmarked market values

A few years old...but you don't get from $4k to $33k without an absolute burial

Unknown · March 27, 2015 2:28PM

This content has been removed.

Wabbit2313 · March 27, 2015 2:46PM

33K? Are they looking for anything else?

Walkerfan · March 27, 2015 2:48PM

<< $33k ? In 2004 $7k made no sense imho and going up from there is even more unbelievable. And I love chops but not that much. >>

Were they just totally clueless buyers or something else?

Unknown · March 27, 2015 3:09PM

This content has been removed.

stealer · March 27, 2015 3:47PM

<< $33k ? I don't believe they are buried in it, however I do believe they are fabricating it. In 2004 $7k made no sense imho and going up from there is even more unbelievable. And I love chops but not that much. >>

Agreed. $7k for the coin is very reasonable in my opinion, but at $33k you may as well start planning to have it buried with you 6 feet under.

Boosibri · March 27, 2015 5:12PM

<< 

<< 

<< Chop detracts greatly from the value on that particular coin >>

How much is it worth without the chop in today's market? >>

$30k? >>

The $27k chop

ricko · March 28, 2015 12:45AM

That is a beautiful coin - and although I am a fan of chopmarks, on this coin, it is damage.... too bad... Cheers, RickO

Broadstruck · March 28, 2015 1:24AM

I never understood after a merchant in China places it on a anvil, grabs a punch, whacks it with a mallet why these aren't just PCGS details graded as damaged

tradedollarnut · March 28, 2015 1:58AM

<< I never understood after a merchant in China places it on a anvil, grabs a punch, whacks it with a mallet why these aren't just PCGS details graded as damaged

>>

They are - that's what 'chopmarked' on the label means. But if someone paid $33k for this, maybe they do need to change how they are stating it. Just to protect people from getting ripped off

Unknown · March 28, 2015 2:14AM

This content has been removed.

Broadstruck · March 28, 2015 2:21AM

<< 

<< 

<< I never understood after a merchant in China places it on a anvil, grabs a punch, whacks it with a mallet why these aren't just PCGS details graded as damaged

>>

They are - that's what 'chopmarked' on the label means. But if someone paid $33k for this, maybe they do need to change how they are stating it. Just to protect people from getting ripped off >>

Another good point, me thinks the consignor missed the chop and figured pcgs made a mechanical error on the label. I have a feeling on Monday pcgs will be receiving a call bringing this exact issue up and only then will the consignor learn he/she believe they are buried, and buried for good. >>

Consignor... Don't you mean the buyer as the high bidder

Wabbit2313 · March 28, 2015 2:28AM

Stevie Wonder could see that chop on the front and back of that coin. (Assuming he really is blind) No one would ever buy that coin as problem free. This is also taking at gospel that someone really did pay 33K.

AMRC · March 28, 2015 2:34AM

Gentlemen, you may be correct that the sellers are fabricating. Until I see the receipts I really cannot say.

Having said that I have to consider that on one hand, I have a family whose Mother in the years before she passed, purchased about 30 or so slabbed PCGS and NGC coins, and based on the selection of coins, had no true focus or theme. The children know little about coins. They have shared with me their concern that their Mother may have been taken advantage of. On the other hand, the company they allegedly bought the coins from was sued in 2012 for how they represented the value of the numismatic products they sold and wound up with a $4.5MM judgement. When you also consider that no matter what they paid for the coins has no bearing on what I purchase or sell them for, I am going to put my money on the family being genuine.

But everyone is allowed their own conclusions until such time as the facts are in.

I would like to add that this not my first Rodeo. I have helped liquidate several such ($200K+) estates in the last several years with very similar narratives. The worse one was where an older gentleman showed me, with pride, an entire safe of "Ballistic Roles" of Presidential Dollars, and another where the person was sold counterfeits.

It happens a lot.

tradedollarnut · March 28, 2015 2:38AM

There is no evidence that they are fabricating this story - especially in light of the judgement against the seller. It's really bad that this happened. :-(

AMRC · March 28, 2015 2:44AM

<< There is no evidence that they are fabricating this story - especially in light of the judgement against the seller. It's really bad that this happened. :-( >>

And I am concerned, continues to happen every day. This kind of stuff is very bad for the hobby and really brings to light the cancer we have in our society that preys on our elders.

Unknown · March 28, 2015 2:59AM

This content has been removed.

AMRC · March 28, 2015 3:02AM

<< 33K? Are they looking for anything else? >>

Unfortunately the buyer has passed, so I think you missed your window.

puffer · March 28, 2015 3:11AM

With monumental rip-offs like that if the seller was being honest, they should have gone back to the original company to re-sell it to them. And of course they would be told that the market has softened considerably, at which point they should consider playing hardball.

AMRC · March 28, 2015 1:40PM

<< With monumental rip-offs like that if the seller was being honest, they should have gone back to the original company to re-sell it to them. And of course they would be told that the market has softened considerably, at which point they should consider playing hardball. >>

You my friend are a mind reader. All of that is in play.

AngryTurtle · May 31, 2015 12:48AM

A later thread on this subject:Text

Tookybandit · May 31, 2015 1:13AM

<< The worse one was where an older gentleman showed me, with pride, an entire safe of "Ballistic Roles" of Presidential Dollars, >>

Ugh, I purchased $2.5K worth of these from a family who wanted to sell their late father's collection as a whole group. 10x $250 mint sewn bags of Washington dollar coins. I looked through all of them for errors and found zero. I just remember having a sore back!

The ballistic rolls were those TV shopping channel marketing stuff right?

csdot · May 31, 2015 2:10AM

<< 

<< The worse one was where an older gentleman showed me, with pride, an entire safe of "Ballistic Roles" of Presidential Dollars, >>

Ugh, I purchased $2.5K worth of these from a family who wanted to sell their late father's collection as a whole group. 10x $250 mint sewn bags of Washington dollar coins. I looked through all of them for errors and found zero. I just remember having a sore back!

The ballistic rolls were those TV shopping channel marketing stuff right? >>

Like the cr@p we use to see on TV, where the actors were shown dressed up in police uniforms struggling to push what looked to be an overweighted dolly of these "priceless" boxes/bars of golden dollars.

AMRC · May 31, 2015 2:28AM

<< 

<< 

<< The worse one was where an older gentleman showed me, with pride, an entire safe of "Ballistic Roles" of Presidential Dollars, >>

Ugh, I purchased $2.5K worth of these from a family who wanted to sell their late father's collection as a whole group. 10x $250 mint sewn bags of Washington dollar coins. I looked through all of them for errors and found zero. I just remember having a sore back!

The ballistic rolls were those TV shopping channel marketing stuff right? >>

Like the cr@p we use to see on TV, where the actors were shown dressed up in police uniforms struggling to push what looked to be an overweighted dolly of these "priceless" boxes/bars of golden dollars.

>>

These be them!

They have since been deposited into the bank, sans the marketing regalia.

Type2 · May 31, 2015 2:34AM

I hear of people buy all kinds of stuff for crazy money but it does not make it worth that the "home shopping network" rig's a bell. Any one that buys coin's day after day knows that. How many time do you see or hear of some one walking in and say we paid XXXX for it and you know it's worth XX any one can ask for moon $$$$ but if it's not worth it they will get what ever some one is willing to give or you can hold till some one like that person you bought it from comes along. All in all it's a Very nice coin and if it did not have the chop it would be even nicer to some that do not like chop's, Good luck if your going to sell it for moon money.

joebb21 · May 31, 2015 4:51AM

Just to point out- this coin was bought back by the consignor in 2004 for 7k Which means he had to run up the bid otherwise it would have brought minimum $250-500 less.

CoinJunkie · May 31, 2015 5:31AM

AMRC · May 31, 2015 5:40AM

<< Just to point out- this coin was bought back by the consignor in 2004 for 7k Which means he had to run up the bid otherwise it would have brought minimum $250-500 less. >>

The point is correct, but it was not my client. I have no record from the time it sold at auction until 2008 when it was sold to my client by a dealer back east.

AMRC · December 13, 2015 12:11PM

The final result. http://coins.ha.com/itm/trade-dollars/1875-s-cc-t-1-chop-mark-type-one-reverse-fs-501-ms64-pcgs/a/1227-3238.s?ic2=myconsignmentspage-lotlinks-12202013

I know there was a lot of discussion on the value of this coin, so I thought I would close the loop. I was fairly certain it would sell for more than it did the last time it sold, and some did not agree, but overall, the client is convinced I did the best I could for the estate, and that is all I really cared about.

tradedollarnut · December 13, 2015 1:06PM

Congrats. I bid like $4k all in. I do notice that the buyer is accepting offers so I presume it was a dealer and not a chopmark collector

DDR · December 14, 2015 10:27AM

I did not buy the coin. I bid higher than TDN, but in the end it sold for more than it was worth to me. And I am a pretty aggressive buyer of nice, chopmarked Trade Dollars. Congrats to the buyer.

MilkmanDan · December 14, 2015 12:29PM

Wow, if not either of the previous two posters then I'm curious who. Sorry you didn't get it Dave, sounds like you wanted it.

Newp - 1875 S/CC T$

Comments

Leave a Comment