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1837 LM-5 Capped Bust half dime in PCGS 63 Prooflike makes a tenfold gain

Comments

  • MFeldMFeld Posts: 15,024 ✭✭✭✭✭

    I think the most likely explanation, by far, is that at least two bidders thought the coin was a Proof. And if so, that they didn’t see it before the previous sale.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • alaura22alaura22 Posts: 3,619 ✭✭✭✭✭

    So much for due diligence
    Maybe someone will be looking for a refund

  • MFeldMFeld Posts: 15,024 ✭✭✭✭✭

    @alaura22 said:
    So much for due diligence
    Maybe someone will be looking for a refund

    More times than not, when an auction coin sells for far in excess of what would be expected from its grade and attribution or designation, I believe that the top bidders have done their due dilligence.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • Not a series I am familiar with, but some weakly struck reverse elements and a debate if proofs even exist from this year would make me think it's more likely an early business strike.

  • CoinbertCoinbert Posts: 594 ✭✭✭✭✭



    And this NGC Specimen 64 dime sold for $72,000 at Stack's Bowers.
    A very difficult year for Proof half dimes and dimes.

  • TypekatTypekat Posts: 562 ✭✭✭✭✭

    That NGC Specimen-64 actually looks like a proof!

    30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!

  • safari_dudesafari_dude Posts: 184 ✭✭✭

    @….

    I think the most likely explanation, by far, is that at least two bidders thought the coin was a Proof. And if so, that they didn’t see it before the previous sale.

    Mark…what would be the tell-tale features that would distinguish this coin from being a proof? Thanks!

  • CoinbertCoinbert Posts: 594 ✭✭✭✭✭

    Agree with you Typekat about the dime. It may wind up in a Proof holder in the future.

  • Coins3675Coins3675 Posts: 523 ✭✭✭

    Nice coin, no wonder it brought that premium.

  • MFeldMFeld Posts: 15,024 ✭✭✭✭✭

    @safari_dude said:

    @….

    I think the most likely explanation, by far, is that at least two bidders thought the coin was a Proof. And if so, that they didn’t see it before the previous sale.

    Mark…what would be the tell-tale features that would distinguish this coin from being a proof? Thanks!

    Message sent.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • 291fifth291fifth Posts: 24,716 ✭✭✭✭✭

    Is it a proof or is it mint state? To me, even if certified as a proof I would reject the coin. A weakly struck reverse like that on a "proof"? No thanks.

    All glory is fleeting.
  • Sunshine Rare CoinsSunshine Rare Coins Posts: 2,341 ✭✭✭✭✭

    The 1837 specimen dime and PL half dime would make a great pair!

  • jesbrokenjesbroken Posts: 10,643 ✭✭✭✭✭

    I sold a CBHDime earlier this year on GC Auction that I had hopes of $6-800 and sold for $1200, while not truly comparable it still shows what a couple or few bidders can do to a auction amount. Great coin, regardless.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
  • Can you share on here? I am curious as well

    @MFeld said:

    @safari_dude said:

    @….

    I think the most likely explanation, by far, is that at least two bidders thought the coin was a Proof. And if so, that they didn’t see it before the previous sale.

    Mark…what would be the tell-tale features that would distinguish this coin from being a proof? Thanks!

    Message sent.

  • MFeldMFeld Posts: 15,024 ✭✭✭✭✭

    @noenhancedproof said:
    Can you share on here? I am curious as well

    @MFeld said:

    @safari_dude said:

    @….

    I think the most likely explanation, by far, is that at least two bidders thought the coin was a Proof. And if so, that they didn’t see it before the previous sale.

    Mark…what would be the tell-tale features that would distinguish this coin from being a proof? Thanks!

    Message sent.

    Because it turns out that I know both the buyer and the seller I don’t feel that it would be proper to discuss the coin. Otherwise, I’d be happy to.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • RobertScotLoverRobertScotLover Posts: 1,034 ✭✭✭✭✭

    It is pretty common place amongst the JRCS ie the collector experts of the capped bust half dime series that the 1837 LM-5 isn't known in proof. In addition the strike is incredibly weak on the reverse, and thus the adage if it walks like a duck......blah blah blah, then it isn't a proof. Now maybe a TPG may possibly call it roofline but that is another meaningless description of classic American coins presumably invented to increase value.

  • BillJonesBillJones Posts: 34,862 ✭✭✭✭✭
    edited September 3, 2025 6:25AM

    Sorry, but I would rather have this one. The grade is MS-65, CAC. When I look at it with a 10X, I can't get over the relief on a business strike coin which is so small. Most examples of these type that you see were struck with damaged a clashed dies which don't show this level of detail.

    The coin in the OP has some die polish marks which would not please me.

    BTW, my photos don't do this coin justice.

    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 ... ?

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