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An Unfortunate Case of a Dipped Gold Coin

BoosibriBoosibri Posts: 12,411 ✭✭✭✭✭
in U.S. Coin Forum

I have known the ownership history of this coin dating back about 4 years. I was searching the NFC Coin listings today as was saddened to see this formally beautiful 1851 $5 MS61 now dipped and lacking it's formally beautiful color. Legend states that it came from the cornerstone of a church in the south along with a few other $5's of the same date along with my 1848 $5.

The coin first appeared to me in DWN inventory, sold to a forum member, and then sold back to DWN. It ended up in the 2/15 Heritage sale. Somewhere between that sale and today it has ened up in the NFC Inventory, devoid of it's original color.

Shame on whoever wrecked this coin.

Coinfacts image:

Heritage Link:

Heritage

NFC Coin:

NFC Link:

NFC Coins

Latin American Collection

Comments

  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭

    At first I thought it was just the different pictures because the area in front of the chin looks like it could be the same. But it's been cracked and treated.

    Too bad

  • TreashuntTreashunt Posts: 6,747 ✭✭✭✭✭
    sad
    Frank

    BHNC #203

  • TreashuntTreashunt Posts: 6,747 ✭✭✭✭✭
    sad
    Frank

    BHNC #203

  • BustCudsBustCuds Posts: 1,096 ✭✭✭

    Very Sad image

  • BoosibriBoosibri Posts: 12,411 ✭✭✭✭✭

    Too bad is right

    Latin American Collection

  • BoosibriBoosibri Posts: 12,411 ✭✭✭✭✭
    I can understand why some would think that this coin might be AT but if you know the back story and are aware that a small group of 1851 $5's exist in a similar state, you would dismiss the AT claim. Here is my 1848 $5 likely from the same church cornerstone.



    image

    Latin American Collection

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    That 1848 is a really nice gold coin Boosibri.... Cheers, RickO

  • YorkshiremanYorkshireman Posts: 4,585 ✭✭✭✭✭

    That really is a shame.

    I love the look of toned gold.

    Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
  • CaptHenwayCaptHenway Posts: 32,791 ✭✭✭✭✭
    Knuckleheads!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • robertprrobertpr Posts: 6,862 ✭✭✭
    Why would anybody in their right mind dip that? Dipping gold is not going to get you an upgrade, people! If anything it will get you a downgrade.
  • JJSingletonJJSingleton Posts: 1,401 ✭✭✭✭✭

    But...but it's nice and shiny now. It must be worth more.image

    Sadly, this is a very common event. And in general the TPG business model supports it. I am just glad they did not get the grade bump often given with the dip and strip.

    Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia

    Findley Ridge Collection
    About Findley Ridge

  • JJSingletonJJSingleton Posts: 1,401 ✭✭✭✭✭

    Originally posted by: robertpr Why would anybody in their right mind dip that? Dipping gold is not going to get you an upgrade, people! If anything it will get you a downgrade.
    Hey Robert, I wish that were true. But sadly it is not. The TPGs often reward dipped and stripped gold coins, especially the one ATS. Heck, many of the coins in one of the finest Dahlonega collections ever assembled were ruined in search of the grade bump. And several ruined coins were rewarded.

    Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia

    Findley Ridge Collection
    About Findley Ridge

  • UnknownUnknown
    This content has been removed.
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭

    Blues and reds on gold are usually looked upon as having been iodine treated so who ever dipped this might have felt it was more marketable without? When I sold off my NM Philly $5's years ago I had a 53 with the same look as the 51 in the OP. I got more questions on the color from collectors then anything else. It finally took a dealer to see it for what it really was who offered me the most.

    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • Sunshine Rare CoinsSunshine Rare Coins Posts: 2,338 ✭✭✭✭✭
    NFC removed the coin from the website

    Sunshine Rare Coins

    sunshinecoins.com/store/c1/Featured_Products.html

  • jwittenjwitten Posts: 5,238 ✭✭✭✭✭
    I have a beautifully toned $2 1/2 with reds, blues, and purples. I just got it graded MS 62 at ngc. I wish I knew how to add pics on this forum!
  • keyman64keyman64 Posts: 15,548 ✭✭✭✭✭
    Really nice 1848!
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • jmbjmb Posts: 595 ✭✭✭
    Horrendous looking now. What a shame.
  • ashelandasheland Posts: 23,784 ✭✭✭✭✭
    That really sucks. image

    My YouTube Channel

  • ashelandasheland Posts: 23,784 ✭✭✭✭✭
    That really sucks. image

    My YouTube Channel

  • stevebensteveben Posts: 4,639 ✭✭✭✭✭

    what's interesting to me is that this coin was traded around a bit before this happened...so apparently no one really wanted it as it was.

    it *was* a nice looking coin. the luster appeared to be really thick especially in towards the edge of the coin.

    what is sad is that skin and age from being in the church cornerstone is stripped away. coins with "time" still on them are much more desirable to me. otherwise, just buy a modern, you know?

  • Cougar1978Cougar1978 Posts: 8,823 ✭✭✭✭✭
    Could it have gone bad in the original holder since the photo was taken?



    The dark areas on reverse of original coin look particularly bad and this could have been an issue with potential buyers, hence the dipping. Perhaps they dipped it to have a shot at 62. Most buyers of gold I have dealt with want coins which are brilliant, wellstruck with nice luster - no spots or dark toning.
    Investor
  • BoosibriBoosibri Posts: 12,411 ✭✭✭✭✭

    Originally posted by: Cougar1978 Could it have gone bad in the original holder since the photo was taken? The dark areas on reverse of original coin look particularly bad and this could have been an issue with potential buyers, hence the dipping. Perhaps they dipped it to have a shot at 62. Most buyers of gold I have dealt with want coins which are brilliant, wellstruck with nice luster - no spots or dark toning.

    Coins with 1 in 100 color are not appreciated by most people when talking gold. If this were silver it would be appreciated.

    The incentive to sell a 61 with amazing color vs. a 62 with crap color in this relatively available issue is 0.

    Latin American Collection

  • BryceMBryceM Posts: 11,863 ✭✭✭✭✭
    While it does have a bit of an iodine look to it, it's a darn shame that they felt that dipping was the best option.



    The imperfections in the fields and over the devices are now much more harsh and much more visible.
  • ashelandasheland Posts: 23,784 ✭✭✭✭✭
    I love the original color of early gold.

    My YouTube Channel

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Geez !!! :-)
    Timbuk3
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Sorry, double reply !!! :-(

    Timbuk3
  • ranshdowranshdow Posts: 1,442 ✭✭✭✭

    It's a formal possibility someone got bad advice. AT, altered surfaces, no bean. If they paid a premium price maybe their emotions got the better of them & they went down a path attempting to recoup their sunk costs.

  • goldengolden Posts: 9,998 ✭✭✭✭✭
    Oh the humanity!

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