1803 $1 ANACS - Problem?

All toning is corrosion, but it doesn't look like it is deep into the surface of the coin to me. It looks more like it was inserted into an album made with an acidic paper. This wouldn't be a hard problem to fix, but it needs to be done professionally as to not cause the coin any harm or devalue it.

 

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Ok, but is the white stuff corrosive? If you look at the base of the arrows and zoom in, there is a clump of it that looks fuzzy, sort of like what you see on the corroded terminal of a car battery. And could there be more under the edges of the holder?

 

It's hard to say what may be on the rims, but looking at it a little closer, I do see a couple of places namely at the base of the arrows like you mentioned, in the denticles above the D in United and the small patch next to the last A in America. These areas seem to have some corrosion issues that are below the surface of the coin.

If you don't mind me asking, what are they asking for this coin?

 

It's an auction, reserve not stated, no bids yet.

 

Trying to decide what to offer.

 

That makes it a bit easier. I would be a bidder at $4500 or so. That may not buy it though.

 

That's about what I was thinking, too.

 

From what I've heard, ANACS was quite good back then. I'd agree that the coin didn't show the "toning splatter" on the reverse as it does now.

It is a very nice looking coin. Good luck with your decision.

 

Hard to say from images. I'm not sure if it is corrosion, staining or what.

 

That's a big boy coin. Not like the measly $750-$1000 ones I play with.

 

What a beautiful coin

 

My guess, based upon the single set of images, is that the coin has been dipped white and retoned. The odd splashes of blue on the obverse appear to come out of nowhere and affect both raised devices and flat field in an indiscriminate manner. Additionally, what many are calling white gunk on the reverse appears to me to be a difference in the layer or color of toning. The coin has better than EF40 details, but ANACS, like NGC and PCGS at the time, often silently net graded a coin by dinging it grade points when they didn't like something with the surfaces. It likely looked either just like this, or pretty darn close to this, when ANACS graded it way back when. My next guess, and keep in mind these are just guesses based upon experience, is that this coin would get a details grade (genuine holder) if submitted today.

 

Tom I realize that you would generally discourage this sort of purchase, but clearly this is still a decent looking coin with fairly high value. How would you value this coin? As a net 40 or as a lower details grade? I ask mainly because I've been completing a date set of large cents, and the ones that I like are either out of my price range, or have minor problems.

 

The VF35/EF40 grades for the late date Draped Bust dollars are in the mid-$3k to low-$4k range, in general. For a coin such as this ANACS certified example, I think 10-grade points off might not be a bad price. In other words, if you think the coin is an otherwise AU50 then you might think a fair value would be VF35/EF40.

 

To me a retoned old dip I don't love the color but to me looks like a clear xf 45-au-50 if can be bought for the right price worth playing with I've had older anacs coins jump major grade points when submitted to pcgs or ngc pcgs likes to napalm stuff too for details for no apparent reason me I'd try a cross to pcgs and if that don't work either keep in anacs slab or bust out and send to ngc or back to pcgs if you try it enough finally they get it right

 

Tom, do you mean that it was relatively recently dipped and then ARTIFICIALLY retoned, or dipped >100 years ago, and then naturally retoned over many, many years?
What do the obverse "splashes of blue" being on both fields and raised devices indicate in this regard?

 

Sure is meaty for an XF, but has the wrong "look". I agree with the others, cleaned and retoned. For that kind of money, I think a coin with more original surfaces would be a better choice- even if it means having more wear.

 

In my opinion, and again based only upon these images, I think the subsequent toning had help. Obviously, I cannot prove this, but it is my gut feeling.

 

yeah, millrat, I agree. After looking at various auction results, I see that I could have a really NICE au-53 NGC for the low 5k range. So, no reason to pay 4500 for a problem coin. Much less, I'm thinking it should be more like 3k or so.