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Worth the money?
Numiven
Posts: 377 ✭✭✭
Hello,
This coin will complete my all gold collection (1800 -1933). I have an option to buy it for $8,400.
Most of my coins post 1850 are MS 62 or above. I have some type 1 DE, Classic and Early eagles in 45 and many AU's.
All my saints (1908 motto, 1907,08 no motto, 1924,28 common date) are MS 65.
My budget for a high relief in about $10k.
Should I consider this coin or wait for something with a number grade in my $10k range?
I like the way this coin looks, throug its a details grade.
Numismatics & Photography
rv@ravenumismatics.com
Instagram.com/coin2photo
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I think only you can make this call. Sounds like an amazing collection. I'd love to see it.
I vote for number grade.
Coin Rarities Online
Not that coin, wait.
You will never be happy with a damaged coin.
Yeah, only you can ultimately make the call. Until recently I though I'd just rather go without, but I saw a couple of nice XF coins out there with a surprising amount of meat on them.
Sounds like a nice collection, but one problem coin amid a nice group of gemmy gold coins would stick out, and not in a good way. If you have the $$ to buy that much gold, wait a while, increase your budget some, and go for a killer coin.
Wait for something with a number grade.
Personally I avoid coins that don't have a number grade because I know that in the long run I won't be pleased with them.
Your $10,000 budget puts you right on the edge. Using Gray Sheet numbers $10,000 is well below the "sweet spot budget grade" for this coin, which I believe is MS-63. The bids are $20,000 non CAC and $22,000 CAC. The AU-58 to MS-62 ranges from $12,000 to $16,000. I don't think that this coin is very attractive when it has obvious wear.
My advice is to save some more money and increase your budget. The $10,000 price buys either a problem coin or one that is in EF-AU at best.
I know how you feel about having a coin that matches up well with the other higher grade coins in your collection. I have the same opinion. I have always avoided mixing in a VF when everything else is Choice AU or better. I would rather have a hole in the set than a coin that sort shouts, "i'm not as good!"
Thank you.
A correction:
Most of my coins post 1850 are MS 62 or above. I have some DE, Classic and Early eagles in 45 and many AU's.
Numismatics & Photography
rv@ravenumismatics.com
Instagram.com/coin2photo
Wait. Save up to get a better coin.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
It's a tough pill to swallow when you find a tough coin you need at a price you can afford, but the quality just isn't there.
Pass is the correct option.
Although I am not too proud to say I have jumped on the inferior coin in the past and made a poor purchase, but filled a tough hole. It's a strategy I am hoping to avoid in the future as I mature as a collector.
How bad is the cleaning? I assume it's hairlines.
I've bought coins declared improperly cleaned which I thought were wrongly BB'd and many subsequently graded problem-free.
Some cleaning is unforgivable, of course.
Lance.
I don't know....if the choice is "going without", or buying a less than perfect coin, there is some satisfaction from completing a collection.
BUT:
As others have said, you're the boss here.
(Side note: What a waste! Looks like it was a very nice coin before someone decided to "improve" it!!)
This was my XF.
A forum member now owns it.
I'd sure rather have this than ANY "gennie."
Don't buy problem coins. They just make someone else's problem your problem.
I agree with Lance. If she has a shot to grade, it's worth the risk. You can always resell the coin if you fail.
Now if it is polished, forget about it, and fast!
I wouldn't spend that type of money for a coin that isn't rare and that has been cleaned. Just saying'...
In honor of the memory of Cpl. Michael E. Thompson
One thing I've learned is that if you pass on a coin, another one will come along down the road.
That coin will always be the one that you would like to upgrade. Wait for a better one.
... most of the time ... I can point out a few exceptions.
But in this case the High Relief $20 gold is always available. The challenge is getting the money to pay for them.
I agree with Bill Jones. Save some more dough and be patient
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Will you hold on your collection after you purchase the last coin to fill the hole? If yes, I will save up to buy a problem-free one (I don't want to spend more and upgrade a common coin later.) If you will lose your interest on this collection after you complete it, why border to fill this hole with a problem coin?
I could see having to settle for a cleaned 1796-1797 draped bust half. But not for a fairly available Hi Relief.
My mantra has always been... YOU CAN'T BUY A PROBLEM COIN CHEAP ENOUGH.
Just wait until you try to sell it, you'll find out why, VERY fast.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
Not when I can see the cleaning from here
You won't get much relief if you buy that high relief.
As others have said, it's not a rare coin, really, and is available to be found without a lot of effort.
If you can get the coin at a stupid low price though, it may be worth considering.
It would have to be very cheap though.
You know what you want. Don't settle. Keep looking.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
Not rare, but very popular coin. I'd own one in MS64.
After all this hard work, all the money and time.. you gotta ask yourself, do I want to end my collection with a cleaned piece?
Wait for an original coin thats not cleaned - just a suggestion
@Numiven .... Welcome aboard.... I agree with most of the above.... wait for a straight grade coin... why put a problem coin in a nice collection?.... And it will always be a problem coin... Cheers, RickO
Unless you are certain that a number-graded coin is absolutely out of your reach, I'd wait for the right coin.
Edited to add: that's not so bad for a details coin. I've certainly seen worse.
Cheers
Bob
Thank you all....
I am planning to wait for a graded 60 to 62 on this high relief.
Excited to keep looking at auctions for this coin (actually auctions are addictive!)
Can buy some time to save up more and pay off some debts from last 3 coin purchase (classics in AU 58) racked up a good 4k.
Enjoy my other coins, i enjoy numismatic photography too. I try different lenses and light angles.
Look into coins to complete my Morgan CC set (1879 au+ and 1889 xf+ needed)
Numismatics & Photography
rv@ravenumismatics.com
Instagram.com/coin2photo
When your collection is done you should post it here
QUIZ! Someone here will know the answer. Who said, and I paraphrase, "You'll run out of money long before they run out of coins." Who said that? "Patience is a virtue." I don't know who said that either. But when it comes to collecting coins patience sure can save you a lot of money. And headaches. I should know.
Be patient. The wait can be hard but worthwhile and satisfying in the end.
I'll only consider damaged coins for very rare or unique pieces, e.g. if you won't see another 20 years or more and don't want to wait that long.
Don't buy a coin you have to apologize for when selling.