My First Pop 1 Coin ~ 1860-O Seated Dollar
mcarney1173
Posts: 917 ✭✭✭✭✭
This coin is probably not the grade you were expecting but I am very proud to add this Pop 1 coin to my collection. Edited to clarify: This is the only 1860-O Seated dollar graded XF45+ by PCGS.
According to the PCGS population reports there are only 123 plus-graded seated dollars in the entire series and of those only 6 are graded XF45+.
Would love to hear some thoughts about the originality of this coin from anyone with experience in this series.
I am a type collector and my experience with Seated dollars has not been the best. Earlier this year I purchased an 1842 $ raw as "AU Details". I sent it to PCGS expecting it to come back XF or AU Details cleaned but it came back questionable authenticity. It is evident to me now that the coin's surfaces have been destroyed either by putty or some type of environmental damage. If you are interested in seeing photos of that coin they can be found on this post . This experience is part of what caused me to start buying PCGS-certified almost exclusively, especially for pre-Morgan silver dollars.
Thank you for your time and comments. Happy Thanksgiving!
Comments
I agree ... not what I expected from the title, but that looks to be an attractive Seated Dollar. Nice Pop 1!
Not sure it's original/original, but unlike so many Seated coins (dollars especially) it certainly doesn't look to have been tweaked, worked, stripped or otherwise messed with other than the possibility of something very mild (soap and water, non abrasive) some decades ago.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Regarding your comments about your 1842 dollar - I have never heard of putty destroying surfaces of a coin.
While it could be due to the imaging, the 1860-O looks like it was lightly cleaned. Of course, even if has, that wouldn’t be especially unusual for a Seated Liberty Dollar.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The coin does not look original, but it's not unattractive either. Very solid XF, as the grade indicates.
PCGS Must have liked the surfaces more than others, becuause they Normally dont give out the + in 45 , for unoriginal surfaces.
Certainly, a beaute. Congratulations.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Why are you calling it a POP 1 coin, based on the above info that you supplied?
Because it is a pop 1. He didn’t say or imply that there was more than one 45+ for the date.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thank you, Mark. Yes, the PCGS population for the 1860-O in XF45+ is exactly 1 (the coin above) with 1,192 graded higher.
Out of the entire seated Liberty dollar series there are 6 graded XF45+. I provided that information just to show how infrequently a seated dollar has received that grade.
My PCGS Set Registry Profile
Nice way to collect condition rarities!
The coin has nice nearly mark free surfaces but does appear to have been lightly burnished, more so on the obverse than on the reverse. Most collectors will find it very much acceptable.
Such a coin might technically be considered a “condition rarity”. However, here, from Coin Week, is what I’ve always considered to be what the term means:
“ In numismatics, there are essentially two types of coins.
There are coins that are condition rarities and there are coins that are absolute rarities. A condition rarity is a coin whose value is primarily derived from its high degree of preservation. An absolute rarity is a coin whose rarity is based more on the total number known to exist than its grade.”
A pop 1 XF45+ coin with 1192 graded higher, might be a “grade rarity”, but it’s not really a “condition rarity”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Going all the way to the other end, I do consider PO01's to be condition rarities, not just grade rarities.
Nice to know essentially every coin is a rarity
Of course, this is exactly what many rare coin dealers would have you believe!
I agree about the super low grade coins. Though whenever the expression “condition rarity” might have originated, such wasn’t the case (or even contemplated).
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
How about coins like the 1885-CC + 1903-O Morgans that sell for almost the same price in G as MS60? The lower Circ grades of those are what I consider a classic condition rarity! Many early Barber Halves are that way in the F-VF grades.
Are you saying there is no plus grade higher than xf45+?
No, the dollars are merely examples of coins with very narrow price spreads between low and high grades. The low grade ones don’t sell for high prices, due to their low grades, thus are not “condition rarities”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
No, I didn’t say that. Pop 1 means that there’s just 1 at that grade and has nothing to do with how many (whether plus grades or otherwise) have been graded higher.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I guess I don't understand pop `1. I always thought pop 1 meant there is a population of 1 in that grade. Guess I am confused.
My first population 1 coin is a ms70 2018 silver Eagle
To each his own. When there are narrow price spreads between low grade circ's and MS coins that to me equates to a condition rarity to me. The key word here is condition! I bet there are multitudes more of the dollars I mentioned in MS than Circ grades. Too lazy to look!
PCGS has (to date) graded ONE 1860-O Seated dollar as XF45+. Feel free to look it up. That makes the OP's coin a Pop 1. Pretty simple, really.
Cool coin in an unusual grade. Enjoy!
To help minimize confusion, a “Pop 1” is NOT a “Top Pop” unless it’s the only coin in the very highest grade for that date. In the case of the OP, as has been stated, for the 1860-O Dollar, this is the ONLY coin graded by PCGS as XF45+, which is all the OP is saying. There are no others. Since others of this date are graded higher, it’s not a “Top Pop”, but is a “Pop 1”. I think that’s very special, and cool!
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
"This is the only 1860-O Seated dollar graded XF45+ by PCGS.
According to the PCGS population reports there are only 123 plus-graded seated dollars in the entire series and of those only 6 are graded XF45+."
But the op himself states there are "6 graded xf45+". So I still don't understand what you are saying. You are saying there is only 1 graded xf45+, which is not what the op stated. I guess I am dense to these sort of conversations, probably overthinking again.
Pop 1 for the date, not the series.
Nice coin.... I have always been a fan of XF45 coins... Not sure why, just seems to be a blend of quality and use. Nice Pop 1.... unique in that respect also. Cheers, RickO
There are 6 graded XF45+ for the entire series. There is only one XF45+ for this date. Hence pop 1.
Ahh thanks, I took the cause " entire series" to mean 1860-O", my bad.