Isn't this excessive for this coin?

MikeKing · April 26, 2006 6:57AM

I don't understand why it's being bid upwards so high. Any opinions?

Heritage Auction

topstuf · April 26, 2006 7:00AM

Because it is an 1807 which has magical properties and without one, no one will speak to you.

JRocco · April 26, 2006 7:50AM

I have no idea

BlindedByEgo · April 26, 2006 7:52AM

Shill bidders?

BECOKA · April 26, 2006 8:10AM

There is a lot of dumb money out there right now. People playing the stock market or commodeties market are making a killing. They split the profits off and spend it blindly on cool stuff like this.

The best part is in a couple of years when the markets take a dip they will have to sell to cover losses and we can get this same item for a song.

DennisH · April 26, 2006 8:16AM

Maybe two people both really want it.

Or, is it a rare (or unknown) Overton variety?

LanLord · April 26, 2006 8:23AM

That thing has a very awsome strike for a 1807, however it looks to have been dipped to hell and back.

Too bad, I'll bet it was a killer before someone raped it.

pontiacinf · April 26, 2006 9:00AM

<< Because it is an 1807 which has magical properties and without one, no one will speak to you. >>

hahahahahahahaha

mozin · April 26, 2006 1:51PM

I commented similarly about this lot in an earlier thread. The description says "abundant luster", but it sure is not showing in the pictures.

My guess is that two PCGS registry bidders are wanting this coin for their registry set. It is already bid more than double what I would pay. This 1807 50/20 O-112 marriage is R1, meaning over 1000 thought to exist.

Coppernicus · April 26, 2006 1:55PM

A) I bet it looks better in hand (more luster);

As mentioned before, it has a very nice strike;
C) It may be a 58.

Mike

stman · April 26, 2006 2:12PM

I've been scratching my head on this one.

mozin · April 26, 2006 2:13PM

<< A) I bet it looks better in hand (more luster);

As mentioned before, it has a very nice strike;
C) It may be a 58.

Mike >>

The Heritage blow up images certainly show lots of marks, both in the fields and on the portrait. I don't think PCGS would upgrade it to AU58.

stman · April 26, 2006 2:23PM

I could probably start the bidding just a touch lower on this one

Cladiator · April 26, 2006 2:23PM

It's just another sign of the disease that has afflicted AU bust half dollars as of late. People collecting with their wallet because they are trying to be like the cool kids.

ps. Stman....wow

slumlord98 · April 26, 2006 2:44PM

The coin isn't nice as a 55, except that it is an early die state, and consequently appears well struck. Waaay too scuffy and unnaturally bright. Someone is burying himself in this coin. Absolutely nuts.

Tarmac · April 26, 2006 2:53PM

That thing has a very awsome strike for a 1807, however it looks to have been dipped to hell and back.

Great strike, zero eye appeal, none.

stman · April 26, 2006 2:54PM

I've kept an eye on this for a few days, as I always do with 1807

and have went over it, and over it, to see what I'm missing.
At first I got out Overton and thought perhaps Heritage had the attribution wrong..... and thought perhaps it could have been the 111 model.

Oh well, Like I said, I could give them a deal and start the bidding just a touch lower on mine. They probably want white though. Heh

Myqqy · April 26, 2006 3:18PM

Cleaned with lame eye appeal......

Elcontador · April 26, 2006 3:59PM

Agree w the grade & it's an early die state (the latter may explain the strong bidding). Has a few what appear to be die clashes more easily seen on the reverse. Generally these coins have out of alignment dies so the stars on one side of the coin aren't fully struck.

There appears to be some sort of either toning mark or thin, hairline scratch running from the top of the head to the bottom of the back part of the jaw. Coin was dipped at some point & retoned. For this reason, I don't like its appearance & would not want it in my collection.

BAJJERFAN · April 26, 2006 9:29PM

<< Because it is an 1807 which has magical properties and without one, no one will speak to you. >>

I guess if you don't have one you aint shet?

Cladiator · April 27, 2006 1:33AM

<< Its a 50/20C variety-not labeled on the holder.

I saw the coin. Its not bad.

I am very impressed with the price too. Must be a rarer Overton. >>

Nope. As mozin pointed out earlier the coin is an R1 (1807 50/20 O-112 die marriage) with zero rarity premium.

MikeKing · April 27, 2006 3:37AM

That was a great post, and I look forward to seeing the article if you can get it in hand.
Michael

stman · April 27, 2006 4:17AM

<< please do your part to see that these myths are not part of your vocabulary, >>

Agreed, which is why in my posts recently I refer to it as the 50/inverted 5. The most common of the 1807 capped Bust half.
This model is usually the one seen for sale/auction, which leads me to believe that most of the remaining survivors are indeed this variety.

Still a tough coin, but still scratching my head over the price in this auction. Don't care for the coin myself, but hope the person on top REALLY
enjoys this piece!

mozin · April 27, 2006 8:03AM

I continue to call this 1807 punching error as the 50/20. First off, most everyone recognizes it as such. Secondly, I have yet to find a keyboard special key to print an inverted 5. When the price sheets and the REDBOOK make the change, so will I.

The new Don Parsley 2005 book, UNITED STATED EARLY HALF DOLLAR DIE VARIETIES 1794-1836, still calls this variety 50/20, making no mention of the inverted 5. This book is sometimes incorrectly referred to as the Overton 4th edition. Don also still refers to the 1822/1 overdate. This has been shown to not be a true overdate, just a die line in the upper part of the last 2. I still refer to this as an overdate, again because most collectors recognize the marriage as an overdate, and so do the price sheets and REDBOOK. Besides, I have a number of the 1822/1s, and I want to protect my investment.

Edgar Souders, in BUST HALF FEVER 2006 2nd edition, updated his 1995 1st edition to now say "50 over inverted 5". Even in his 1995 first edition Edgar showed the 1822/1 was not a true overdate. This is an outstanding book for anyone seriously collecting Capped Bust Halves, but the US EARLY HALF DOLLAR DIE VARIETIES book is the one needed to determine die marriages. Look for the 3rd edition.

I see the Heritage coin just closed to internet bidding at $7,475 including the juice.

MikeKing · April 29, 2006 3:04AM

Actually $8,050.00 including the juice. I wonder how soon we'll be seeing that one up for auction again?

mozin · April 29, 2006 3:55AM

<< Actually $8,050.00 including the juice. I wonder how soon we'll be seeing that one up for auction again? >>

I stated that the "internet" bidding closed at $7,475 including the juice, a basic bid of $6,500. A floor bidder must have raised the bid one increment to $7,000, or $8,050 with the juice. Based on the floor bidder winning, maybe the coin looked MUCH better in hand.

Prices realized like this one may well bring out many more like it to auction. None of mine are for sale.

Isn't this excessive for this coin?

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