Okay, I'm Ready to Take the Plunge

The damage on the reverse is the wide scratch on the eagle's wing and the upper part of the wreath. The lines at the botton look like adjustment marks to me.

Here is the piece in my collection, which PCGS graded AU-50 to my surprise. I thought I'd get an EF-45. This coin has adjustment marks, but no post mint damage.



I tend to say away from problem coins for two reasons. First the mark will probably "bug" me, and I will get itchy to buy a no problem piece. Second, if the market does go up, problem pieces lag behind with respect to price appreciation.

The choice is yours. I will warn you that prices can seem reasonable in this type of auction until it goes up for bid. The floor, but especially the Internet kicks in that the prices can got to the moon. It shouldn't on this piece given that it is a "details" grade, but I put that out there to caution would about getting your expectations up too high.

 

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Well, I know it's going to be more than $5000.

 

PCGS quotes a survival estimate of 850 coins in all grades for 1796.

 

I somehow misinterpreted Stack's response to my bid.
I thought I had run into a Reserve.
But Stack's keeps sending me periodic updates on my bid that makes it look like I'm still in the running.
So I sent them an e-mail asking.
The response.
Yep, I'm the high bidder AND it's a live bid.
I'll know Thursday.

 

The standard procedure is to send you emails on a regular basis to keep you involved. The emails will not stop until the day after the auction ends. Then they might send you emails about setting up a want list.

 

No, but I DO know who I'm hoping has the max bid ... me!

 

Oops, double post.

 

Good luck... I think if you get it for your bid, you'll have done well.

 

Again, wishing you luck.

 

Just curious...how often does Stacks-Bowers hold online auctions ? HA does weekly.

 

True, but there will be very few 1796 dimes in those weekly sales. If there are, they will be terrible, almost beyond recognition.

In the old days, problem early coins didn't make it to the floor bid portion of the major auctions unless they were rarities, like a 1796 half cent or maybe a slightly porous Chain or Wreath Cent. Now those coins are included because the prices have gone up.

 

I agree! The cream of the crop don't usually show up on weekly coin auctions.

 

That's OK because I can only afford sour cream......

 

As a collector you learn your place. Some of you might think that I am a whale. I am a dolphin who spent years to get where I am. StacksBowers dropped me from their mailing list a few years ago for not buying enough.

 

Stacks Bowers would probably say that Cosmo Kramer is a better credit risk than me.

 

Okay, I think I won.
My top bid was $5000 and the lot is listed at $5040.
Plus it was labeled WON.
I know the buyer's fee will be $1000 so IF I won my guess is that the extra $40 is S&H.

Well, if so, I'll just have to wait for the invoice.

 

I hope you are happy with your purchase!

 

Congratulations. I hope that $40 includes insurance, but that seems low for a $5000 coin.

 

They probably either self insure or have an outside policy that covers insurance. If not, $5000 by Registered mail would be about $30. (Priority insured for $5000 would be about $75.75)

 

Problem resolved.

I won the coin.
My bid was $5000.
I won it for $4200.
20% (buyer's fee) of $4200 is $840.
$4200 + $840 = $5040
S&H is $29.50.
Ergo my cost is $5069.50.

The nice part is that I got the coin for almost $1000 less than I would have paid if my full bid had been reached ($5000 + $1000 + $29.50 = $6029.50).

The only negative is that the coin is in a DETAILS slab, but I knew that when I bid.
This makes it only the second coin in my collection in a DETAILS slab.
I can easily live with that until I win the lottery, then they're history