Interesting 1840 Eagle in Heritage Long Beach
breakdown
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UPDATE on Jan 12, 2019: Just an update on the famous (sort of) 1840 eagle from Long Beach last year. I thought it would be interesting to see if the buyer upgraded it or attempted to do so.
Instead, I see that Mr. Hansen owns this coin and it is listed in his registry still as an AU55.
Lot 5803 in Heritage Long Beach is an AU55 in an OGH that is stickered. PCGS price guide is 3500 but coin is already bid up to 28,000. I guess someone thinks this might grade MS? Or maybe I am missing something else.
"Look up, old boy, and see what you get." -William Bonney.
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Looks like a 62 to me...
I had mentioned that to heritage Friday to make sure someone didn't add a few zero's. They confirmed two sharp major players were on it. WOW.
Its already at full 62 money. That is what no gold being around will do. I would not be surprised if it hits $40,000.00!
Pretty amazing the bid on that coin. The whole collection is impressive in terms of completeness and varying quality in terms of each individual coin.
I am just an observer but a few additional facts. CAC has stickered one 61 for that date and a couple 58s. In CoinFacts, David Akers said he had never seen an uncirculated 1840. I realize that is a statement from a long time ago with different grading standards but still interesting.
And it is buried in the second tier of coins based on its AU55 grade.
"Look up, old boy, and see what you get." -William Bonney.
Pleasant looking coin, but not IMO outstanding regardless....
Too bad values are on the log scale as I have a PCGS53 with PL surfaces that had been passed down in my California family.
Well, just Love coins, period.
Just throwing in a couple of pictures, not to pirate thread...
PL not showing well in photos...
Well, just Love coins, period.
I miss the old days when circulation wear mattered.
Edited to add: Actually, it would appear that both PCGS and Heritage are right on with this coin. The error would be if it were to upgrade after the sale solely because of the price, and not the coin itself.
Not cac gold? Then they didn't think it was Unc..
https://coins.ha.com/itm/liberty-eagles/eagles/1840-10-au55-pcgs-cac/a/1272-5803.s?ic4=GalleryView-Thumbnail-071515
1840 $10 AU55 PCGS. CAC. A well-struck orange-gold Choice AU example. The hair over the ear shows a trace of wear, but the fields display a pleasing quotient of luster, and no marks are detrimental. A brief and minor streak of struck-in grease is near star 5. Exceptional quality for this early, scarce, and conditionally rare Philadelphia eagle. Certified in an old green label holder. CAC: 2 in 55, 3 finer (1/18).
i personally do not think that coin is ms...not even close.
Call it AU62 if you like
How can you go from thinking 28K was a mistake to not being surprised at 40K?
Doggedly collecting coins of the Central American Republic.
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The fact that two real and experienced bidders are fighting it out is additional pertinent information for someone who hasn’t yet seen the coin.
you value the coin at 62...and i'll concede that opinion is better than mine. i'm just saying that is not what mint state gold looks like.
The two lads are buying the coin not the holder...to place bids like that I'm guessing they've seen the coin in hand...out of my league...good luck to them!!!
I’m not saying it’s Mint State ...I’m saying it looks like a 62 from the pics
Btw - here’s a Pcgs 58. Which would you rather own?
It's an obvious AU. But that does not establish its value for potential buyers.
obviously, this coin is a great example of why you can't grade via an image.
Interesting that CAC did not give it a gold sticker. I think that if it were mint state, CAC most likely would have. They did give gold stickers to two other coins in the collection.
I find it surprising that two bidders would duke it out so early. If one really thought the coin was such a great candidate for upgrade, one should wait to bid till the last minute. Why show your hand so early?
I grade the coin an easy PCGS 62 and it should CAC too.
MS62, by today's standard, wouldn't surprise me. I like this coin.
Lance.
The coin is spectacular looking in hand. The coin looks uncirculated to me by today’s standards.
That is certainly a beautiful specimen... the reverse eagle really stands out with great detail.... I can understand why there are dueling bidders...Cheers, RickO
The 1841at $5K right now seems like a bargain...
https://coins.ha.com/itm/liberty-eagles/eagles/1841-10-au58-pcgs/a/1272-4223.s?ic4=ListView-ShortDescription-071515#
No sticker might indicate a subtle issue with that coin.
I wouldn't be surprised that it was a market graded coin by PCGS.
A MS 62 downgraded to AU 55 because of some small amount of treatment or some kind of processing?
No motto 10's are usually the most chewed up series and the 53 shown has great surfaces.
There are lots of neat coins in the auction. I think the 1846 and 1870 $10 are very neat coins too.
While bidding on the 1840 up to solid MS prices they better be sure that if this coin was in an AU58 holder, it would still get the CAC sticker. Otherwise, you just paid moon money for a slider. IMO, it does have a 62+ look even with the possible wear/friction HA mentions above the ear. Perhaps they are comparing it to the MS61 Bass coin.
The 1841 has a lower MS look to me also. But thats only from photos....
Another classic example AU vs MS slider issue. I mean, if this coin was graded MS62 and it looked like a tractor ran over it would it be worth more than this AU55? Some coins are just worth more than others by how they look. Wear is just another attribute (like luster or marks or strike or whatever) and the AU "line drawn in the sand" vs. MS is arbitrary at best.
jom
It’s refreshing to see a coin bid up on its ow merits rather then a numberical grade. If that is what indeed is happening
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......
I imagine the scratches are the no stickering reason. That said it still is a hell of coin
Laura just viewed the coin in hand and says lock 61/shot 62
I was off the computer for a few days and this thread would take too long to sort out with all the "extra coins added.
I'll just add this:
The coin you posted is so far below the one in the OP that I don't understand why it is posted. Did you wish to show what an ABOUT UNCIRCULATED and not close to Unc coin looks like? That coin better not be in a Mint State slab!
As for the coin in the auction. Sooner or later it will be graded "MS something." AU-55 is stupid! Perhaps a true "technical" AU-58 was net graded for the problems. Folks don't grade that way! Unfortunately, with all this publicity, the coin will probably not get upgraded to at least MS-62 right away.
The wear appears in the iPhone pics but the details seems much stronger in the professional pics. In the end if Laura calls it a 61/shot 62 I'll go with that.
Latin American Collection
This is why I HATE multi images in the same thread.
@Boosibri I don't think either you or Laura is calling this coin MS. Am I correct?
It looks really nice to me, but you could engrave what I know about gold on the head of a pin.
It looks like a slider to me
Latin American Collection
By today's grading standards.
What will it grade by the grading standards of five years from now? Higher or lower?
@7Jaguars posted a coin surrounded by white insert w/prongs. I don't think "slider" is the right term for this coin. I suspect some strike weakness but that coin is closer to an XF-45 or AU-50 than to an MS-60. You and Laura must be posting about the coin at the top of the thread in the auction. Right?
I don’t know what coin is pictured in the ngc holder. It looks cleaned to me
7Jaguars posted some iPhone pictures of his own NGC AU53 coin. It is unrelated to the coin in the auction but has caused some confusion.
Glad I started this thread as I have learned more than a bit and I even got Laura's in-hand views.
"Look up, old boy, and see what you get." -William Bonney.
Nice coin!
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Thanks for the clarification @breakdown. My faith is restored.
That auction coin is going to take off as it will be graded MS one day! And my guess that "one day" MS grade
will eventually be MS-63! Easily.
And while the NGC coin is a decent example, 53 is a fairly generous grade and not in the same league as the coin in OP. Based on these photos. Pretty sure the 53 is entombed forever while the OP coin will be cracked out/crossed in a nanosecond after the hammer.
Those who like big money quality collections including fresh, lustrous, high end pq coins like this know what they are doing. Top quality and eye appeal coins will always attract strong money in major auctions.
Fresh? Lustrous? High end PQ? Ah,...Ok, if you say so.
I prefer attractive, desirable, and very high grade for that date. I guess it is just a matter of words. Anyone care to post the auction catalogue description for the piece?
Gold eagles dont turn up in this condition very often. This collection will do well
Here you go. FYI There is another 1840 piece in the very same auction. It’s bid is at $900. The OP coin is at $33,000.
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......
If I might quibble with the auction description, I do not think that dark line near star 5 is struck-in grease. Notice a parallel but lighter streak in the field out from the chin a bit, and several parallel streaks (remember to flip the coin top to bottom in your head) on the reverse. These look like minor inclusions in the ingot, possibly copper but I could not say, that got rolled out with the planchet strip.
TD
And does "a pleasing quotient of luster" mean "less than 100% luster?"