Crazy money paid for a busted up LC?

I was just wondering if paying 50 bucks for a 1798 LC was crazy? This thing was a slug nothing was readable on the rev, and the obv a partial outline of the bust and an 8 was the only thing readable. Is that not crazy to spend that much?

 

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Might of been worth it provided we could see it.

 

I just paid double that for a VG 1798/7 that's in phenomenal shape and it's in the new acquisitions thread. So I think there are better deals to be had out there. Wish we can see a photo of it.

 

I didn't buy it so I can't show pics. Just imagine a copper slug with an 8 on it. If you can do that then you dont need to see the coin

 

They are talking about rarities and variaties. cant confirm those with imagining a coin with an 8

 

It's a tough coin. A problem-free G4 in PCGS plastic would go for around $150.

I think I paid a few hundred for this one. And I'm looking for an upgrade but scared by the cost.
Lance.

 

Here are a couple of cleanly graded early cents. Not much detail. Would $50 be too much? $500? How about a couple of thousand?
Lance.

 

Wow! Back has plenty of detail!

 

Luckily that chain is bold and crisp on that reverse or else you wouldn't know what date you have. And yes, $50 would be a steal and a half for either coin.

 

Oh yeah, anything past good the price skyrockets up from there. That is a solid piece with a nice sized cud on the reverse. What's the Sheldon on that one?

 

It's an S-175, R3. Small 8, type ii hair. The CUD on the reverse is a good diagnostic.

Some day all three of these will be replaced. But for now they fill holes and give me time to be selective (and save some money!).
Lance.

 

How in the world did this get off topic? The coin looked look the OBV of the chain cents but a little worse and add an 8. Rev was shot

 

Not sure it's that far off topic. Point is, $50 may be a very fair price for a well worn pre-1800 cent. Especially if the surface isn't too bad and it has no major flaws.
Lance.

 

I would say that is a fair price for one with light corrosion and normal AG-G wear. But if it's beat up on the rims/edges, vise coin, then not so much.

 

It all depends on the variety. Take this one I bought three or four years ago.



I paid $275 for it. It was the last 1798 I needed and had been on my "I'll never manage to get one of these" list for over 20 years. It's an S-144 an R-6 to 6- with only 20 to 25 pieces known. Yes it is ugly and damaged, but a nice smooth Fr-2 to AG-3 would runs around $3K if you can find one. A G-4 maybe $7K. So I was VERY happy to get this one.

 

Seems like a tough one to attribute.

 

The sweet thing about this is that when and if you sell (or someone does after your lifetime is over), they will likely make money on the deal, as the prices of tough coins just don't get smaller usually. It's a good choice to do if you can.

 

Actually if you know what to look for attribution is a snap. It is clearly a 1798. Almost all of the 1798 reverses have the gap between the ends of the wreath below the serif of the E in STATES. This is the ONLY reverse die with it under the right side of the S. Nothing else is even close. And that reverse was only used on S-144. Usually this piece is attributed by a heavy crack through the top of OF, but this is an early die state without the crack.

 

The other thing to remember is early copper collecters are craze I paid around $250 for this, which afterwards in all honesty I felt guilty of theft for:

 

Yes - they are.

To the OP - a lot goes into a price on large cents. Planchet, variety, etc. all go into determining what the price might go for. I can't think of one coin in my album that was less than $50 - I am sure there are a few, but not many. And yet if you stick to lower grades you can collect a lot of them at reasonable prices.