Why would you or wouldn't you buy this 1877 Indian Head Cent? What looks like a file mark on the obverse on the left edge/rim at 9:00 is a reflection. The spot to the right of the last S in STATES appears to be a carbon spot. What would you grade it? If you would buy it, what would you pay for it? Thanks
G6 - VG8. $650-850 Assuming it's not in an NCS 'details' slab which would mean it's damaged or cleaned. Looks like it's in an NGC/NCS slab, and displays the diagnostics for the 1877.
NGC slabbed VG8 1877 IHC. I'm going to say $800-900ish would be a good price then. Nice coin! It's always good to get one of the keys. Here's a couple links to similiar coins on eBay. You can see I'm in the ballpark on the price. You might get more or less. http://www.ebay.com/itm/1877-1c-PCG...32?pt=Coins_US_Individual&hash=item35b57232f4 http://www.ebay.com/itm/1877-Indian...06?pt=Coins_US_Individual&hash=item19c9374c9a
Yeah, I kinda like it compared to others I've seen. But I'm concerned about that carbon spot (if it is one). Is it going to grow? Did NGC do anything to "conserve" the spot before slabbing - if not, can anything be done to “arrest” it? It looks big in the blow ups, but may not even be noticeable in hand. I’m still waiting for someone to criticize it, LOL. If you were negotiating a price what would you use to knock the price down?
What spot are you referring to? It's hard to tell from the photos. I do see some old verdigris spots. But nothing worrisome. Nothing can be done about carbon spots. Lance.
If you didn't, click on the obverse pic to enlarge it. Then look for the black spot with a "halo" around it, to the right of the top of the last S in STATES.
Just noticed something else. On the reverse, in the field around ONE CENT, notice the darker brown diagonal stripes? Is that "old wood" or something else?
I think you are over analyzing it. The spot you're referring to is simply more of the same throughout the coin. The IHC is old. There is some verdigris. It's no longer active and not a worry (that it will get much worse). This is the territory of old copper. It really isn't a bad example at all. I don't know what price you're working. But for what it is, I think it is fine. Key dates like this are low-risk, IMO. It's 140 years old and not like more are going to spring up suddenly. I like it. And I'll say this: while you are on the fence someone else with more determination will come along and snatch it from you. And you will look back and say "Damn...I wish I'd bought that". Lance.
Alright, guess it passed the test. If you guys can't find a reason to run from it, it must be ok. Thanks
Well, I bought it, paid in the range mentioned here, but don't want to say the exact cost because I may be trying to sell it on the internet someday to upgrade it. I'll let you all know if there's any "surprises" when I get it in hand. Thanks again.
LOL! I don't know, this is the first one of these I've bought and just wanted to get opinions about what is important. I've learned the hard way for a few coin purchases, so tend to be over cautious when buying something unfamiliar. Thanks again for the education.
And I can certainly understand your position - I think at times I do that also and probably miss a few good coins. Now - let me prepare you for the second lesson, which I have learned, - if or when you go to sell you may or may not re-coup all your money. Even key date prices vary. I believe I might break even on my 1877, but no guarantee's. Prices were up when I got mine and now it might go $100 or $200 less. I don't regret buying it, but just another lesson. The second part to the lesson is on my IHC's on some of the non-keys, common dates I wish I had spent more to get better coins to start with. Again, no regrets buying them - but now my tastes are a little better(I certainly know what I am looking for better now) and sometimes it is more expensive. Enjoy it - I like the way the coin looks.
The assigned grade surprises me a bit (I'm in the G6 camp), but it's a nice example of a key date. It would work nicely in my collection.
Great coin. Congratulations on your purchase. That is a nice key date anyone would love to have. Also, my wife says your nuts for spending that much on a "penny". Women...
I personally think it is a very solid VG coin, stronger than most of the overgraded 1877 junk out there in TPG slabs. I've seen these in VG without full obverse rims. Anywho, great job!
