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Thoughts on a 1795 $10 UNC details?

jclovescoinsjclovescoins Posts: 1,850 ✭✭✭✭✭

https://coins.ha.com/itm/early-eagles/1795-10-13-leaves-bd-1-high-r3-reverse-repaired-/p/1274-120001.s?ic2=mytracked-lotspage-lotlinks-12202013&tab=MyTrackedLots-101116

Thoughts on this coin up for auction at Heritage in April? Any idea of value and/or final hammer price? (I know what problem free pieces bring).

Comments

  • skier07skier07 Posts: 3,650 ✭✭✭✭✭

    Me personally, I’d rather pass then buy an uncirculated details coin. Looking through Coinfacts I see several AU details coins that have sold for ~$25,000. I’ve never purchased a details coin before but I’m guessing it’s problematic when you try to sell it.

  • BoosibriBoosibri Posts: 11,841 ✭✭✭✭✭

    $50-70k. I like this piece better than a harshly cleaned piece.

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    The best way to decide on a "Details" coin is to imagine trying to sell it when it begins to bother you.

  • logger7logger7 Posts: 8,022 ✭✭✭✭✭

    HA auctions usually realize top dollar, so it will be a challenge to get it reasonably.

  • SmEagle1795SmEagle1795 Posts: 2,135 ✭✭✭✭✭

    Several years ago, I bought a few impaired early Eagles and Half Eagles, noting how inexpensive they are relative to "problem free" coins. I didn't lose my shirt when selling them but I did take somewhat of a loss on most of the coins. The advice I received was: if someone can afford to spend $30K on a coin, they can probably spend $60K on a very nice example of that type. I've taken that to heart and my collection is better for it.

    Learn about our world's shared history told through the first millennium of coinage: Colosseo Collection
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭

    @SmEagle1795 said:
    Several years ago, I bought a few impaired early Eagles and Half Eagles, noting how inexpensive they are relative to "problem free" coins. I didn't lose my shirt when selling them but I did take somewhat of a loss on most of the coins. The advice I received was: if someone can afford to spend $30K on a coin, they can probably spend $60K on a very nice example of that type. I've taken that to heart and my collection is better for it.

    Was the loss much larger than the return on problem free coins? Many people have a loss when selling problem free coins as well.

  • I bought a 1800 $10 in lower details grade for $10k, later someone offered $16k so I sold it. It won't sell cheap. If I have more money I would bid on it, how often can you get unc 1795 coin?

  • SmEagle1795SmEagle1795 Posts: 2,135 ✭✭✭✭✭

    @Zoins said:

    @SmEagle1795 said:
    Several years ago, I bought a few impaired early Eagles and Half Eagles, noting how inexpensive they are relative to "problem free" coins. I didn't lose my shirt when selling them but I did take somewhat of a loss on most of the coins. The advice I received was: if someone can afford to spend $30K on a coin, they can probably spend $60K on a very nice example of that type. I've taken that to heart and my collection is better for it.

    Was the loss much larger than the return on problem free coins? Many people have a loss when selling problem free coins as well.

    Yes, I took an overall loss on the problem coins. I've also taken a loss on problem-free coins but there are fewer buyers for higher end problem coins overall. I happened to find one person who took most of mine or I feel I would have ended up taking a much greater loss. Also, I'll add that a light cleaning is one thing but tooling/repair are an entirely different beast.

    Learn about our world's shared history told through the first millennium of coinage: Colosseo Collection
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭

    The trouble with problem coins that are marked as such is that they lag behind the no problem coins where the prices increase. They might go up in price, but usually it won't be as much on a percentage basis as the no problem coins.

    And as someone else noted, you are not dealing with collectors who are worried about their next meal when you consider the purchase of a coin like this. It's going to be well into the five figures, no matter what. Most collectors who are into markets like this prefer to spend more and get the no problem coin.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • jclovescoinsjclovescoins Posts: 1,850 ✭✭✭✭✭

    I was thinking 30,000 to 50,000 and probably on the lower end. There have been a lot of AU details auctioned, and this one is not markedly superior from the nice AU details coins.

  • jwittenjwitten Posts: 5,072 ✭✭✭✭✭

    That is a coin I would love to own if I had the money. To my untrained eyes, it looks like a really nice UNC coin with no obvious work.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    If I were to invest in such a coin, I would not buy a details graded piece. I am not a dealer, so resale is not an interest - though detail coins are always tougher to move. If I am to invest five figures in a coin, it will be solid for the grade, no details or obvious detracting points. Cheers, RickO

  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭

    Using the magnification feature, I think that the tooling involves more than "above the left wing of the eagle." I think that there is work within the wreath that the eagle is holding as well.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • jclovescoinsjclovescoins Posts: 1,850 ✭✭✭✭✭

    Bid it up to 40,000 (with BP)...but that was my max...already outbid. Think the coin is a good value at 40K but not anything over 50K. BillJones is right...looks like there is more tooling.

  • gripgrip Posts: 9,962 ✭✭✭✭✭

    Sure did a nice job tooling.

  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    You could take a chance by wearing it down to AU55-58 and hope the tooling goes away.

  • ChrisH821ChrisH821 Posts: 6,293 ✭✭✭✭✭

    $40k currently. Nice looking coin even with the repair. This is far from my series or my comfort zone though.

    Collector, occasional seller

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