Fugio cent questions
Raufus
Posts: 7,022 ✭✭✭✭✭
Hi Folks,
I posted to a thread on Fugio cents a few months ago.
I was thinking about buying one. The folks on the thread gave me some great advice. I almost bought one at the Baltimore show on Friday. Instead, I purchased a low grade 1795 50 cent Flowing Hair. I'm sure glad that I didn't buy a Fugio. In searching my collection for gold and plats to sell given the high metal prices, I found a Fugio that I bought years ago that I totally forgot that I had!
I know very little about these. I've been learning a bit from recent threads, but I'm an extreme novice on these.
I'm very interested to know of the one that I have is especially desirable in any way. I'd appreciate any thoughts on value. I have no intention to ever sell, but I'm curious. Is there any point in grading it? I enjoy holding it (with clean cotton gloves). It's great fun to hold it and think of the history and who held it hundreds of years ago. I think that some of that is lost with a slab. However, I of course understand that advantages of certification.
Thanks very much for any info! It is greatly appreciated!!
Comments
It's a 7-T variety which is a rarity 2 variety. This is pretty common, 501 to 1250 estimated surviving. I wouldn't get it graded, but maybe that's just me. Most collectors of these seem to prefer the coins raw, and this one would certainly come back as a details coin, environmental damage or corroded something of that sort. It does have great detail though, quite a coin.
Your Newman 7-T variety is one of the more readily available Fugios. Given the porosity, the price you paid seems appropriate.
I personally prefer raw coins, but to each their own. The coin you imaged is XF, but would not straight grade. Try to find one with well above average surfaces, pleasing color, and preferably all of the legends visible. I’ve seen far too many that were poorly struck, etc. Minor as made striations are ok. It may take a bit of searching to find the right looking coin, but it will be well worth it.
It looks like a coin with a famous provenance. Personally I never wear gloves when handling raw old copper. I think the act of handling with your fingers is beneficial to coin. I'm certainly not promoting this practice for anyone else; however, in my mind I find the act very pleasing in a tactile way.
Thanks so much for the info!!
It's most appreciated.
Any idea what caused the porosity?
I bought this almost 20 years ago. If its a reasonable price now it sounds like I overpaid. Finding it now , having forgotten about it is like getting it all over again. I probably stick with this is my only example. I love these coins. Super fun to own.
I think that is a nice example for the type. The porosity is not distracting since it is so evenly distributed and all the important design elements are complete. (talk about forgetting stuff, I pulled a raw box out of the bank box recently out of curiosity and found 3 Fugios in it! Guess I'd better take a MOCA LOL)
Nice "acquisition"(?)... I've been looking at Fugio Cents for about a year now. I opted for a $3 Princess gold to complete my denomination gold Type over the Summer... funny... either a Fugii Cent or 1795 Flowing Hair Half Dollar will likely be my next major purchase.
Your Fugio has a bunch of detail but as others have already mentioned... likely wouldn't straight grade due to Environmental Damage. It could have been a ground recovery piece but it doesn't look nearly as bad as some. It looks like Col Ellsworth netted it down to VF30 ... I wouldn't bother to send it in for grading... I actually like keeping the provenance card... thanks for sharing.
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I like this, and I do this too for all my old raw coins. How many thousands of times have these passed through other hands, and so what's one more?
Porosity is corrosion and, as such, is caused by the coin being in a corrosive environment. When this happened is unknowable, however, since the piece has strong detail and has developed a nice even patina, it happened quite some time ago.
Thanks very much to those who have posted. I greatly appreciate your time, opinions and expertise.