What the heck is an "original bag" of $20's?
CaptHenway
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Just received an email from Monaco Rare Coins via Coin World offering 1873 $20's from "my recent discovery of an original bag of 1873 Type Two $20's," certified by NGC in various EF and AU grades. The labels have "Crime of '73" on them.
So you buy up a bunch of circ 1873 $20's and place them in a bag of some sort. Wave a magic wand over it and it becomes an "original bag?"
So you buy up a bunch of circ 1873 $20's and place them in a bag of some sort. Wave a magic wand over it and it becomes an "original bag?"
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.
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<< <i>And because each coin is priced significantly lower than every leading published price guide in the industry today, they will not last long. >>
...because usually when a large amount of a particular coin (several 1912-S PCGS MS66 in one auction ring a bell?) comes out into the market at one time, the prices plummet.
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ie: Asking "What's an Original Bag of circulated $20 Gold pieces?" is like asking "What's a Henway?"
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
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bob
<< <i>And because each coin is priced significantly lower than every leading published price guide in the industry today, they will not last long. >>
Yeah, but they're not prices significantly lower, and in some cases, they're higher than retail price guides. Looks like a plan to put lipstick on a pig to try and move some mediocre coins that have taken a beating because of bullion prices. I seem to remember Heritage had several 5-10 coin lots of these in NGC holders for sale a while ago, so they're quite available.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>Just received an email from Monaco Rare Coins via Coin World offering 1873 $20's from "my recent discovery of an original bag of 1873 Type Two $20's," certified by NGC in various EF and AU grades. The labels have "Crime of '73" on them.
So you buy up a bunch of circ 1873 $20's and place them in a bag of some sort. Wave a magic wand over it and it becomes an "original bag?" >>
And some people were defending the integrity of NGC only a few days ago.
I wish there was a giggle emoticon on this forum.
Steve
<< <i>And some people were defending the integrity of NGC only a few days ago.
I wish there was a giggle emoticon on this forum. >>
NGC is not calling them "original bag." The holder merely says, "A Year in Numismatic History / 'Crime of '73'." Just another promotional label for those that buy them rather than the coins.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
day they were produced at the US Mint. Same goes with original toning...It is a marketing load of
There is no such thing as original toning or an original bag of 20s in circulated grades.
Some people need to stop scamming and learn how to use a dictionary and therefore adjectives that make sense.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
What is known in Populist rhetoric of the late XIX century as The Crime of 1873 was the demonetization of silver enacted by the Coinage Act of 1873. Alexander Hamilton had set the United States on a bimetallic standard in 1792 and, with the notable exception of the Civil War, the country had not moved from this system. In practice this was a continuous switching from a gold standard to a silver standard. When the legal price of gold in term of silver, that is, how many pounds of silver you get for one pound of gold, which was set by the Coinage Act at 15 for 1, was greater than the market price, then nobody would bring gold to the mint and the country would be on a de facto monometallic silver standard.
The consequences of this technical decision were enormous, and it seems to be clear in the view of recent research that many people suffered from until the end of the century. Go to the next slide to see what were those consequences.
Immediately after the United States went for a gold standard regime in 1873, the market price of gold in term of silver began to rise, starting from about 15 in 1870 to reach a maximum of about 40 in 1900.
The demonetization of silver was accompanied by several circumstances which led to a strong secular deflationary trend of about 1.7 % a year in the general CPI from 1875 to 1896.
http://www.micheloud.com/fxm/mh/crime/crime.htm
<< <i>
<< <i>Just received an email from Monaco Rare Coins via Coin World offering 1873 $20's from "my recent discovery of an original bag of 1873 Type Two $20's," certified by NGC in various EF and AU grades. The labels have "Crime of '73" on them.
So you buy up a bunch of circ 1873 $20's and place them in a bag of some sort. Wave a magic wand over it and it becomes an "original bag?" >>
And some people were defending the integrity of NGC only a few days ago.
I wish there was a giggle emoticon on this forum. >>
Not defending any grading company, but our host here have issued their share of "hype" labels also. Just saying . . .
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Any help locating any of these OBW rolls would be gratefully appreciated!
<< <i>It's called hype.
<< <i>The labels have "Crime of '73" on them. >>
What happened in 1973... Was grandma's door stop bag of EF gold stolen
<< <i>
<< <i>And some people were defending the integrity of NGC only a few days ago.
I wish there was a giggle emoticon on this forum. >>
NGC is not calling them "original bag." The holder merely says, "A Year in Numismatic History / 'Crime of '73'." Just another promotional label for those that buy them rather than the coins. >>
I did not say that NGC used the term "original bag." Monaco said that.
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I would be wondering if he has a bunch of scuffy, beat up slabbed circs he is trying to sell. I would have to see individual coins sight seen to make any kind of decision.
If coins look nice and close to melt perhaps not a bad deal.
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<< <i>It's an original re-bag >>
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