1811 1/2 C Wide Date, MS66 RB CAC
Currin
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In just one day, the coin is already at $168K. Do you think this 1811 1/2 cent will be the next coin joining the Million Dollar Coin Club?
Edit- now the bidding is up to $204K (10pm 4/1). Bill Jones must have placed his bids.
My 20th Century Type Set, With Type Variations---started : 9/22/1997 ---- completed : 1/7/2004
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
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Comments
I don't know about the final auction price, but that is a real trophy coin. Love everything about it.
The "Old Colored Woman" specimen.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
It’s a half cent. The collector base is not there for a million dollar coin unless two whales decide they want it. When I was collecting the half cents, the one I had was a VF with a rim nick.
It's already in the Million Dollar Coin Club.
http://images.goldbergauctions.com/php/lot_auc.php?sale=77&site=1&lot=102
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
But it was a fleeting stay. The next sale missed $1 million by $2000. Complete provenance shown in the Heritage description.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
The wow factor I guess. Let's see where it will end up
I never understood how high the selling price for this coin relative to the other mint state examples of 1811 half cents. The MS62 and MS63 both sold less than 100k. The MS63 CAC just sold for $84,000 and I actually bought the MS62 CAC in 2018 for $69,000 . Usually with a million dollar coin, the other high grade examples are several hundred thousand to half a million. Also often the date or variety is much rarer for a million dollar coin. I was always stuck by this huge value jump that seemed somewhat irrational to me between the other mint state examples. Of course the price fell at the last Pogue auction compared to the Missouri candidate sale. Be interesting to see if the price falls again. Obviously at least 3 people think the coin is worth a million. Since Pogue won at the Missouri cabinet he had a strong underbidder and then Jung won at Pogue just under 1 million with another underbidder. Privately the coin was shopped to a few key people, no one apparently wanted to pay that price I assume. So I'm getting out my popcorn for this one.
Does anyone know any other cases of a readily available date in XF- AU such as this with only 3 or 4 mint state coins and a jump from 84k in 63 CAC to MS66 CAC being a million?
OK, I may be turning myself into a piñata, and I’m definitely not a fantastic grader, but I say “Hey, the Emperors’ wearing no clothes!” Yes, the coin is super rare, especially in a high grade. Yes, the provenance is unquestionably superstar spectacular. But should those factors allow for a big “pass”, by lowering/relaxing grading standards? RB? Maybe technically, since I suppose there’s more than 5% red. But “Love everything about it”? Are we all happy if most of our RB coins have that little red? Again, rarity and provenance should not give a pass. Then there’s strike. Yes, planchet condition is more important, but strike does count for something. I don’t have expertise in this issue, but my guess is due to the rarity of MS examples, there probably aren’t many (or even any) with stronger strikes. But look at the star details. Are we all happy with our own MS66 coins with that kind of strike?
As noted, the coin is a true rarity, and we should all love it for that. And yes, there probably aren’t any others that are nicer. As such, sarcastically, why not just grade it MS68+RD?
OK, I see the arrows and stones coming my way now. All I ask is please leave the tar and feathers home.
Stay safe!
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
No torches or pitchforks coming. I'll just add that I love the coin, not the plastic. What a nice MS6X BN copper.
If you were there when it sold, and if you applauded, you probably do understand.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
If I submitted that coin, it comes back BN 10 out of 10 times. Love the coin BTW.