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Did not expect to pay this much at auction for my 1851 Liberty Half Dollar PCGS VG Details
WildWestHalfDollars
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Anyone have any idea why it went for so much? I thought I would get it at around 1000$ but no almost paid double that. I know it is a re punched 1. I collect Good to Fine same for details if possible maybe got bad luck and got that one bidder that just had to have like I had to.
Per AI:
1851 Liberty Seated half dollars are significantly rarer in lower, circulated grades than in high, mint-state conditions. Because their silver value exceeded face value in the mid-19th century, many were melted overseas, leaving a disproportionately high survival rate of uncirculated coins compared to heavily worn ones.
Liberty Seated Half Dollars
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I am glad to own one but still new to the series and trying to understand why I paid so much (maybe because I am new). Just trying to avoid it if it was a mistake in the future.
Maybe lower grades of this date were melted down a lot more than higher grades?
Liberty Seated Half Dollars
It is indeed a tough date because of the silver issue at the time, which led to the arrows for a few years on the 1851 seated coins, but you need to be patient and watchful. The most recent auction result that I found was a VF-25 for a few bucks under $2000. https://www.greatcollections.com/Coin/2178467/1851-Seated-Liberty-Half-Dollar-PCGS-VF-25
https://auctions.stacksbowers.com/lots/view/3-1MM9D4/1851-liberty-seated-half-dollar-wb-6-rarity-4-ef-details-cleaned-pcgs
This EF cleaned example sold in 10/25 for $1680. I would have rather had that coin over the VG graffiti example.
Since you said you are new, I would take a step back and reassess your auction bidding strategy and pricing strategy. The coin appears enough at auction that it would not be impossible to find a low graded straight example or a higher grade details example. I would have set a maximum bid much lower than the final end price. I would also stick to that maximum bid.
I don’t really understand why you’re asking us why you paid so much since at the end of the day you were the one bidding up the coin. The answer to your question however is that two people really wanted it and fought for it at auction.
If your strategy was bid until you win, then I would be happy with the coin since you won it
Collector of Capped Bust Halves, SLQ's, Commems, and random cool stuff! @davidv_numismatics on Instagram
Just thought lower grades are that much rarer for this date and mint and got caught in the mind set if I miss it then could be a long while before seen another. I see LOTS of previous auctions for this coin in VF or higher but none in such lower grades. I believe it was the lowest graded example HA has sold graded by PCGS. So it was the rarity of such a grade that got me paying so much and since I collect only collect G to F grades (details if need be for the rarer and more expensive dates).
Liberty Seated Half Dollars
That’s totally understandable, I would definitely look more at recent auction records in the future when figuring out what to bid! You could have spent $600 more to get an XF45 example, even if it is not the grade range you were looking for.
Collector of Capped Bust Halves, SLQ's, Commems, and random cool stuff! @davidv_numismatics on Instagram
Agreed but I like my coins to be all in the same grade range it is an OCD thing.
Liberty Seated Half Dollars
But does your OCD require them to include details coins? Personally, I cannot collect details coins unless it is simply a questionable color that I disagree with.
The truthful answer is yes and no. The coin has to rare and expensive for me to buy a details coin otherwise no I would pass.
Liberty Seated Half Dollars
You might want to consider that many people who buy "rare and expensive" coins do not want low grade/details coins. If they can't get a nice looking example, they'll go without.
I will keep this in mind moving forward if possible with the rarer CC dates I may have to do the same as the 1851 and compromise for a details grade. It is a budget thing and in my case I rather own the coin than not.
Liberty Seated Half Dollars
Sure. And there's nothing wrong with that, if that's what you prefer.
I don’t buy details coins period astounded at that bid war however if it’s a scarce date and bidders really want it…..
I think it is a double combo rare date but also much rarer in lower grades versus VF or higher. Or maybe a triple combo since it is graded by PCGS and someone wanted to add it to their registry and had to own a lower grade as I did.
As mentioned above:
Per AI:
1851 Liberty Seated half dollars are significantly rarer in lower, circulated grades than in high, mint-state conditions. Because their silver value exceeded face value in the mid-19th century, many were melted overseas, leaving a disproportionately high survival rate of uncirculated coins compared to heavily worn ones.
Liberty Seated Half Dollars
If a “details coin” is the best I can afford, I don’t own one.
I understand that to each their own. But I am doing a date and mint set 1839-1891 in lower grades so it was needed but I most likely over paid in this case. I am not going for overdates I am not a collector of such rarities.
Liberty Seated Half Dollars
I was in that position with many early U.S. coins for over 30 years. I waited until I could afford them.
Yeah that is also an option to consider.
Liberty Seated Half Dollars
I thought @Davidk7 was spot on in his initial response to you and I think you should stop a minute, accept you may not have it all figured out, and read each line of his response over again.
There are also other very good points made in this thread about collector mentality you should consider carefully.
We should all collect what we like, and we should all be ready to pay up when the "perfect for us" coin comes along ... but I have a hard time believing that this is such a coin for you (or anyone for that matter).
“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
Things have changed. “Details grade coins” are now in the “platinum sale section” of major auctions. I know if I bought the vast majority of them, I would be eternally unhappy with them. I refuse to buy coins which will “bug me.”
The only “details coins” I have bought were very old British coins (e.g. Alfred the Great) with minor clipping. None of the design or lettering can be missing. I accepted those pieces at the appropriate price.
Thanks I will for sure take it all in. It is very rare I buy a details coin....very rare. I would maybe consider 6-8 coins in the entire series 1839-1891 in details grades.
Liberty Seated Half Dollars
Throw it in your pocket for a few years and you can get that XF into a lower grade. 😆
All comments reflect the opinion of the author, even when irrefutably accurate.
Hahaha!!! I do not think they should be worth more than higher grades but it seems some coins are rarer in low grades vs higher grades. It is the same with the 1852 and a few others.
Liberty Seated Half Dollars
Lol
It's true for coins that didn't circulate much: moderns, CC Morgans , etc.
We can't help but be who we are. OCD and desire for completion probably cost collectors more money than anything else. But, no point in pleasing anyone but yourself.
All comments reflect the opinion of the author, even when irrefutably accurate.
I have at times in the past purchased a rare coin in details, but was never happy with it -- so I learned to wait. It is difficult to wait, but often easier than to buy a new coin and sell the details bridge coin. I bought a 1917 double die obverse Lincoln cent in XF details and kept it for several years until a really nice MS64 became available and then I was fortunate to get all of my money out of the details coin and I ended up with the coin that I wanted. And I am about as OCD as you can get so I do understand but I would not want it as a permanent coin.
Maybe that is what I will do long term will see if I replace any or the very few detail coins I do own. For the moment it is only the 1851.
Liberty Seated Half Dollars
This.
I never purchased a coin in lower grade to be replaced later. This type of collecting never made sense to me. Why buy a vg if your set is XF.? I have collected Seated liberty half dollars in vf/xf condition and simply waited for the right coins to come along. 1851 was the last one I got. (I do not have a 1878-S and most likely never will.)
I used to set a price until a friend (now deseased) said : "Even if you overpay, at least you have it." At this point, I threw the guide books away and when I saw a coin I wanted, I simply bought it without much fanfare.
Coins collecting is a hobby . Hobbies cost money.
I completed my seated liberty half dollar set in 2001 at the FUN coin show when I purchased the 1851. I still have this set. But I may be eBaying it sometime within the next few years.