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All Posts Tagged With: "E-Gobrecht"

Thoughts on the Simpson Dime Sale

By Jason Feldman – The E-Gobrecht

The Simpson dimes were being broken up. [ Heritage Long Beach Sale #1144] This would be a great opportunity to upgrade dimes in an advanced Seated Dime collection. The big problem was there were so many coins that few buyers would be able to purchase them all and no one did surface who did. Even more amazing are some of the coins left in the collection like a MS66 1844 Dime. Legend (Numismatics) has made available to me so many wonderful dimes that news of this sale created euphoria.

It would come as no surprise that most of the coins were either crossed over to PCGS at the same or in many cases a lower grade. Seeing the secure plus holders and Simpson pedigree would make this obvious. There was a lot bidding research needed prior to bidding. There were cases where buying too many coins early would limit the ability to chase coins later. One the highlights of the sale being a simply gorgeous 1872-S, I was not the only one to think so as the coin went to the moon.

One of my regrets of the sale was not being able to purchase the 1845-O dime in mint state. This is a very rare opportunity indeed but as a rule if you set a maximum bid and exceed it by 10% you have to know to stop. Being the under bidder was really not satisfying and maybe a higher bid was warranted. Another highlight of the sale was a gem 1860-S. Prior to the sale, Laura (of Legend Numismatics) and I spoke as to where the coin would sell. It was another on my short list. I think we both underestimated the demand for this coin. It went far over preauction estimates but I don’t doubt it to be well worth the hammer price $40,250. A nice return on investment considering one sold for roughly $7,000 in 1994.

One of the interesting notes about these coins is how many were not picked up by Seated Dime registry collectors but rather a just collectors and dealers. I know one dealer picked up roughly 10% of the coins and most all have been sold. There were many bargains in this sale too. Mostly the coins following the Simpson dimes went too cheap. One example is an 1858-O is a MS64 PCGS holder population 1 with 8 finer sold for just under $3,000 while the Simpson PCGS MS65 population 7 with one finer soared to $9,200. With the grade covered it was not really possible to call either coin much better than the other.

Some of the real steals in the Simpson collection came in the coins in NGC holders. The obvious assumption is these are coins that on a given day did not cross over at PCGS. A good many of them did regrade at NGC. In the case of the ultra-rare 1853-O MS64 the coin was simply overgraded. The coin did have a wonderful and original look to it but just had too many marks to be graded higher than MS62 in my opinion. The coin could easily be traced back with little effort to its previous holder. In general the ultra high grade trophy coins were the ones hitting the moon. Clearly one of two mint state 1845-O Dimes should be worth more than a other coins that sold in the low $20,000’s. This was a sale where knowledge was king. (more…)

Coin Collector Tips: The Twenty Five Most Overlooked Early Seated Coins

By Ken Cable-Camilleis E-Gobrecht

The following is a collector value assessment of coins within the portion of the Liberty Seated series spanning the years 1837 through 1852, all denominations. The foregoing analysis is based on several factors, including but not limited to the PCGS Population/NGC Census Reports, various pricing guides, and extensive personally compiled data and statistics related to general market presence. This compilation indicates, based on my observations and research, what in the realm of mainstream numismatics could be the 25 most underrated Seated coins within this period.

1846 Half DimeMy research suggests that presently there are no overpriced Seated coins dated prior to 1853. I also surmise that most of the dimes and quarters minted from 1840 through 1851 are dramatically undervalued in the mainstream market. While working from such a large sample space of dates and varieties within the five Seated denominations covering the 16-year span of 1837-52, it was a tough call to narrow the field down to 25 specific coins that have especially captured my attention.

The reader should bear in mind that the coins enumerated in this work are not all “classic rarities” because current pricing may have already taken their rarity into consideration. They are simply coins that have received too little attention, or coins that can be obtained relatively cheaply. Some of these coins may already be recognized by LSCC members or other numismatic specialists as having been overlooked. Their market values are not, however, reflected in the most influential price guides, especially the Coin Dealer Newsletter “Greysheet” Quarterly (CDNQ) which since 1992 seems to have been the predominant buyer guide for Seated material.

1848 Seated QuarterAnother observation is that most certified coins of 1837-52 are “market graded” for their assigned grade. Therefore, I have taken into consideration that many Seated coins of this period that are certified MS60 to MS62 may actually have cabinet friction, obtrusive field abrasions or hairline scratches, poorly struck stars and areas within devices, or wear which is confused with poor strike. I have even seen Seated coins slabbed MS63 to MS65 for which I would assign technical grades in the AU range! Choice pieces seem to represent less than 25% of third-party-graded Seated coins from 1837 through 1852, and even some that have few blemishes are not fully struck (that is, all 13 stars, full head/shield details, full eagle features, and anything else that is supposed to be struck up).

The notation “ATB” means across-the-board, that is, all grades from Good through mint state (and proofs where applicable), “MS” means MS60 or better business strike, and “GEM” means MS65 or better.

25. 1840-O No Drapery 25c, ATB. This is a cute coin. I’ve developed a soft spot for this one-year-one-mint style, for which a cameo-like effect is produced with the placement of devices against the backdrop of the fields. I have found this date somewhat tough to obtain problem-free. In MS64, it appears priced almost right, but considerable upward adjustments should be made for all circulated grades and the lower MS grades. I really enjoyed the article in the CDN Monthly Supplement for December 2007 by Larry Briggs on Seated quarters … as I’ve enjoyed his great publication work of 1991. I believe that most of the mint-state coins of this issue that came from the New Orleans hoard have environmental damage from having been buried in the ground, perhaps making them not certifiable by PCGS or NGC.

24. 1848 5c Medium Date, GEM. Although a relatively “high-pop” coin, my analyses suggest that this more common variety of the 1848 Philly half dime is not as easy to find in MS65 as has been believed. In fact, its O-mint counterpart appears on the market with much greater frequency. (more…)

Collecting Date Sets of Liberty Seated Coinage – Part 1: Dollars and Half Dollars

By Dennis Hengeveld

Collecting seated coins can be fun, rewarding, and above all very challenging. Not many people can afford both the time and cost to search, find, and have the opportunity to buy the hard to find coins which are included in every seated series due to the many dates and mintmarks included in the series. Examples could be the 1878-S half dollar and various Carson City coins. These coins, “stoppers” as they are called, are expensive and very hard to find, often causing collectors to fail in their final goal of completing a series they have specialized in for a long time.
Seated Liberty Dollar and Half Dollar
Although I love seated coins, as a 19 year old I just can’t afford to complete any of the seated series in the grades I like, mainly AU50 to MS64 or higher in as original condition as I can find them. Of course, I might be able to buy those coins later in my life but I am not really the person who has the patience to buy coins for a set I know won’t be complete within an acceptable period time (“acceptable” for me is 8-10 years).

As you might guess, I had to find a solution. So, after buying my first certified seated coin (and my first seated coin anyway), which happened to be a wonderful and very original PCGS MS64 1871 Half Dime, I decided to try a very complete type set, with every single type in there (including coins with different weights but the same design). After buying my second Half Dime (1843 PCGS MS63 which after studying proved to be V-6a, the well-known repunched date) before buying any other seated coin, I got hooked to that series.

Yet, I already knew that the series was not possible to complete in both the time period in those grades I had in mind. So I searched for other solutions, with one of them described in this article: collecting the date-set; each date just one time without paying attention to mint marks. This technique is affordable and possible to complete, even for me with a limited budget.

In this article, all seated series, with the exception of the 20-cent series and the Trade Dollar (a series I personally do not consider a real seated type coin), are discussed. The 20-cent series is relatively easy but not fun to complete with only two business strike dates. Thus, for now, it is not included in this article. I will shortly describe the coins in the set and the difficulty of completing a date-set. For the first series of the seated type, this article will start with the highest denomination in the series, the Silver Dollar. (more…)

The 1849 Dramatically Doubled Date Half Dollar

And The Same Error in Two Other Denominations
By Rich Uhrich – January 2010 E-Gobrecht

I’ve always been intrigued by the 1849 Dramatically Doubled Date Half Dollar ever since I first saw it in The Complete Guide to Liberty Seated Half Dollars, by Randy Wiley and Bill Bugert, published in 1993.

Wiley and Bugert designate this coin as WB-102 and list its overall rarity as R6 (13 to 30 known). The original date was punched too far left, and much of it was effaced on the dies when the second date was punched in the proper position.

Therefore, on the coin we can see remnants of the bottoms of each of the 4 digits of the original date, to the left of the second date. There is also a remnant of a “9” in the rock above the “49”, and also the loop of a “9” in the denticles below the date. I always thought this was an unusuallooking variety and I purchased a VG coin from Jim O’Donnell at the 2000 ANA in Philadelphia.

I attended the 2005 EAC Convention in Annapolis, MD and I was studying an N-1 1847 Large Cent. This large cent has a doubled date with the original date to the left and the bottoms of all 4 digits clear. Sounds familiar! I immediately recognized that this was the same error as the 1849 Dramatically Doubled Date Half Dollar, so I immediately purchased the coin from its owner, Doug Bird.

According to Bob Grellman in The Die Varieties of United States Large Cents 1840 – 1857, the 1847 N-1 is an R2 variety. Subsequent research through the Grellman book resulted in identifying the 1846 N-4 (R1) and the 1848 N-4 (R4) as other examples of this error.

I didn’t think further about this connection until a few years later when I studied an 1848 Doubled Date Quarter that came in with a collection I purchased. This quarter has a doubled date with the original date to the left and the bottoms of all 4 digits clear. And it was obvious that this was the exact same error as occurred on as the 1849 Dramatically Doubled Date Half Dollar and the N-1 1847 Large Cent. (more…)

1839: Another Amazing Year in US Coinage

By Arno Safran  from The E-Gobrecht

During the mid to late 1830’s our coinage underwent a number of changes. The first of these began with modifications to the cent in 1835 and again in 1837. In 1836 silver dollar coinage was resumed. It portrayed a Liberty Seated figure with no stars on the obverse. The reverse depicted a soaring eagle in a sea of 26 stars. It was engraved by Christian Gobrecht.

gobrecht_020809In 1837 the Capped Bust dime and half-dime was replaced by the Liberty Seated no stars type and on the reverse the eagle was supplanted by a wreath. The diameter of the dime was reduced from 18.5 mm to 17.9 mm while the half dime remained the same. In 1838 the Liberty Seated (with 13 stars added) was placed on the quarter and in 1839 it was the half dollar’s turn.

The Gobrecht dollar also underwent further modifications in 1839. Finally, there were no less than five important modifications made to the Coronet type large cent in 1839. These have become popularRed Book varieties among cent enthusiasts.

The reader will observe that among the two sides of the basic 1839 year set shown and directly above there are two different types for the half dollar denomination; the outgoing Capped Bust-Reeded Edge and the new Liberty Seated types thereby continuing the annual parade of transitional date designtype pairings begun in 1837.