1842 pocket change?

Comments

• Crackout Posts: 1,375 ✭✭✭✭✭

  April 18, 2011 2:19PM

  I like it - Although I think I'd put it in a Dansco rather than my pocket!
  
  Here's mine for comparison. It made it into a holder with some minor hits and dings.
  
  

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• cameron12x Posts: 1,384 ✭✭✭

  April 18, 2011 2:22PM

  Nice example! I doubt mine would holder.
  
  But that's not what I bought it for and I bet there are lots of stories in its skin!

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• cameron12x Posts: 1,384 ✭✭✭

  April 18, 2011 9:42PM

  What does the day crew think?
  
  Worthy of pocket change?

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• ricko Posts: 98,724 ✭✭✭✭✭

  April 18, 2011 9:55PM

  Nice coin, and I would self-slab it.... that way I could take it out and enjoy it from time to time. Cheers, RickO

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• PerryHall Posts: 46,878 ✭✭✭✭✭

  April 18, 2011 10:11PM

  Nice skin and an attractive coin. I don't know if that mark will keep it from getting a grade at the slabbing services but I wouldn't consider it "a big hit".

  Worry is the interest you pay on a debt you may not owe.
  "Paper money eventually returns to its intrinsic value---zero."----Voltaire
  "Everything you say should be true, but not everything true should be said."----Voltaire

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• AngryTurtle Posts: 1,588 ✭✭✭

  April 18, 2011 11:23PM

  I dont claim to be an expert on what circ coins will/will not grade, but I think its got a good shot at grading.

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• cameron12x Posts: 1,384 ✭✭✭

  April 19, 2011 1:42AM

  
  
  << <i>I dont claim to be an expert on what circ coins will/will not grade, but I think its got a good shot at grading. >>
  
  
  I think the hit on the reverse and the rim dings might prevent it from slabbing...
  
  What about a technical grade?

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• BillJones Posts: 34,842 ✭✭✭✭✭

  April 19, 2011 2:13AM

  Seated dollars did not circulate very well, so I rather doubt that this piece was "pocket change." Still it did see some use that probably extended into a decade or so.
  
  The reasons why these coins did not circulate well was first due to their weight. Get a couple of these in your pocket, and you would know it. Second, a dollar was quite a bit of money in 1842. A grown man could work a 12 hour day and get paid no more than a dollar.
  
  Finally, the discovery of gold in California messed up the value ratios between gold and silver. By 1853 all of the silver coins that were then in circulation had melt values that exceeded their face value. That's why Congress reduced the weight of the half dime, dime, quarter and half dollar and put rays by the date and on the quarter and half dollar rays around the eagle. For whatever reason, perhaps in the mistaken notion that it would safeguard the value of the dollar, Congress did not lower the weight of the silver dollar. Therefore a silver dollar melted for more than a dollar. This ended whatever use the coin had in the day to day economy for most Americans.

  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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• jayPem Posts: 4,082 ✭✭✭✭✭

  April 19, 2011 3:02AM

  It has a VF look, but probably F15 based on the shield ? Unless some dings have been photoshopped out , it looks like it would grade to me ...

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• cameron12x Posts: 1,384 ✭✭✭

  April 19, 2011 4:24AM

  Thanks for everyone's input... (Bill--very enlightening to place this in a historical circulation context.)
  
  What I'm hearing/seeing are VF details on the reverse and high-end Fine details on the obverse. Aesthetically, aged cleaning or not, I like the skin (out of hand).
  
  Taking these factors and the other issues into account I'd personally net grade this example (F-12 or F-15) depending on how it looks in hand.
  
  For my purposes I just want to show this example to friends as a normally circulated Silver Dollar of the day (e.g. 1840s).

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