Found a 1836 Bust half in an antique store - Updated
PhillyJoe
Posts: 2,705 ✭✭✭✭
on the Delaware coast yesterday. It was in a cardboard 2 x 2 and was marked in each corner: "$250", "F-12" "Book $1,000". Knowing nothing about the series, I did not ask the store owner to open the locked case it was in. Didn't help that my wife said "what kind of idiot would pay $250 for an old coin".
(I try to have compassion for the uninformed).
I come home and jump on the computer and find out there are two basic 1836 halves: lettered and reeded. Assuming the grade was fair, we're talking $50-100 tops for a lettered. Does the asking price and "book" hint at it being a reeded? There were lots of consigned items in the store and I imagine the coin may have been as well. Writing on the cardboard looked kind of faded.
Does this sound like it's worth the chase and worth another 4 hour roundtrip? If it is reeded would $200-$250 be a pretty good price?
Joe
(I try to have compassion for the uninformed).I come home and jump on the computer and find out there are two basic 1836 halves: lettered and reeded. Assuming the grade was fair, we're talking $50-100 tops for a lettered. Does the asking price and "book" hint at it being a reeded? There were lots of consigned items in the store and I imagine the coin may have been as well. Writing on the cardboard looked kind of faded.
Does this sound like it's worth the chase and worth another 4 hour roundtrip? If it is reeded would $200-$250 be a pretty good price?
Joe
The Philadelphia Mint: making coins since 1792. We make money by making money. Now in our 225th year thanks to no competition. 
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166 BHDs & 154 Die Varieties & Die States...
Bust Half Nut Club #180
Festivus Yes! Bagels No!
and as a plus a........................ beautiful drive and stop for frosty chocolate milkshakes along ther way
Registry 1909-1958 Proof Lincolns
Edited to add: If you have some other legit reason for making the trip check it out again. It's probably been there forever and will still be there when you go back.
Why don't you just call the guy and ask if the edge of the coin is smooth or has ridges. The guy should be able to tell you that, even in a 2x2.
You're not familiar with the series, so maybe it's not F-12. Maybe it's cleaned. Do you really want to spend 4 hours of your time + ~$30 in gasoline on a potential wild goose chase?
Good coins do sometimes turn up outside of coin shops. You have given me the idea to keep an issue of Coin Values in the trunk of the car for such an occasion. (and eventually an old Red Book, once I replace it with new)
collections: Maryland related coins & exonumia, 7070 Type set, and Video Arcade Tokens.
The Low Budget Y2K Registry Set
Thanks for the suggestions, they were all good ones.
It was the only bust dollar there. Believe it or not it was sitting next to a couple of Kennedys, also in 2x2's (which is what originally caught my eye: a 1967, 68, 71, & 78. They were all marked $2, but remember I was with Mrs."only an idiot would pay $2 for a new half dollar".
Barry's suggestion makes a lot of sense and I will call tomorrow.
May not be a reeded, but I got to check out the series today. Mintage of 1200 reeded. Heritage has auctioned 125 over the years and they are all in the archives. A PCGS 65 went for $63,250 at the Pittsburgh ANA show in 2004. First coin minted using a steam press; that press is at the ANA headquarters in Colorado.
I'll let you know more tomorrow.
Joe
The diameter are also different and you might ask how the size compares with the Kennedy sitting next to the Bustie:
Lettered Edge Bust Half dia. 32.5 mm
Reeded Edge Bust Half dia. 30.0 mm
Kennedy Half dia. 30.6 mm
Be sure to report back on what you found.
Actually this should help during negotiations. If you actually did want to buy it you could wait until your wife drifts off and say something like "how about coming down a bit so my wife doesn't think I am too much of an idiot."
In honor of the memory of Cpl. Michael E. Thompson
It does seem odd that the owner thinks it's worth $1000 but if offering it for $250. This is waving a big Red Flag imo.
roadrunner
Told her the back would either say "50 cents" or "50 C." and asked her if the edge was smooth or reeded like our modern crap.
As most had guessed, it was a 1836 smooth edge "50 C."
If you're ever in Lewes, Delaware, stop in the Lewes Merchantile Exchange & Antique on Second street. Large store and they even have a few photos of the shop on their website. Little bit of everything.
With an asking price of $250, you don't have to rush, the half probably has been, and will be, there for a while.
Joe
I've been to a couple of antique stores where a seller has had some junky low end coins priced to the freakin' moon- like a barely uncirculated 1964 half for $30...... I guess they're ignorant, or they're betting somebody else will swing through eventually who is ignorant.....