First Newp in a long time- 1859-S Gold Dollar
liefgold
Posts: 1,689 ✭✭✭✭✭
I have owned 3 AU's for this date and sold them all because they just did not look good. I like to collect the better dates in this series in AU because they usually look pretty good. But for some reason everyone of this date I have seen, and I have seen a lot, look awful in AU. So even though there is a big price jump to MS, I finally bit the bullet and got one. Very tough in mid-MS, with only 6 higher than MS61 in both services.
liefgold
11
Comments
Nice!!
Those little gold coins seem to attract abuse.... small and soft.... I like that one... and looks good for the grade. Cheers, RickO
Very nice pickup.
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RE: "I have owned 3 AU's for this date and sold them all because they just did not look good."
Well, now you have another AU, but it looks nice!
I agree with Roger that the coin is an AU, not Unc. but it's a nice AU.
I have working on a set of Classic Head gold coins. The same concept applies there too. Very few of the coins in the low end Mint State holders are Mint State. The reason is that very few of these coins were saved when they were issued. The few Mint State pieces there are were collected at the time, or they ended up somewhere where they avoided getting any wear.
The 1838-D half eagle my collection, which is a true Mint State piece, came from a family hoard, not a collection, from what I've read.
Revised to say - In the late 1850s, Californians used their coins, they didn't collect them. Paper money was illegal in the state during this period. People wanted gold, not paper. Therefore few of the S-Mint coins from this era are in Mint State.
Very good looking example.
I like that a lot! Great pick up!
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RE: I agree with Roger that the coin is an AU, not Unc. but it's a nice AU.
Well I have not seen it in person yet so I cannot comment for sure on the AU/MS attributes but this is what Doug Winter has to say about it:
" This deep golden example is extremely well struck for the issue and it is absolutely "new" without any of the rub or friction seen on most in this grade. A few light scrapes on the cheek force a downgrade from what would otherwise be a considerably higher grade--and price tag."
cool. the luster looks pretty nice. that maybe why ngc chose 61 for the grade.
Adding to Bill Jones's comment, "Revised to say - In the late 1850s, Californians used their coins, they didn't collect them. Paper money was illegal in the state during this period. People wanted gold, not paper. Therefore few of the S-Mint coins from this era are in Mint State."
The San Francisco Mint actually supplied gold coins and refining for the entire western part of North America. U.S. gold was legal tender in Canada, Russian Alaska, and circulated in Baja California. Native gold also came to the Mint from Australia for processing.
The photos show obvious wear and handling. Maybe the photos are circulated and the coin is not....?
You must be more qualified to tell that from photos than I.
And so far the only person who has seen the coin in person (Doug Winter) disagrees with you.
The mint frost appears to be broken on the face, which why I gave it an AU grade. If MS. LIberty's cheek is duller with a different color than the lighter colored protected areas down her neck, then this piece is an AU.
Here is a piece from the same era that I do consider to be a low end Mint State example. NGC graded this one MS-62.
I have looked at thousands of AU and MS gold dollars and I think I can tell the difference pretty well in person. But looking at photos for me has been next to impossible to really tell.
I can tell you that it is nicer than any other AU or MS61 1859-S I have seen, and I have seen many.
I'm a big fan of early San Francisco gold. Looks like a nice one.
Pacific Northwest Numismatic Association
The coin Bill posted appears to be uncirculated from the photo.
The OP photo shows an AU coin in both the large and small photos. Thus, the photo must be circulated....
All that matters is you enjoy owning the coin. As the OP noted, there are some issues where a real AU is about the max available.
If you bought it from Doug you are in good shape. I would like this coin a little better as a 58 but he of course has seen it and is truly an expert
Congrats on your purchase!
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......