Interested to know what your opinion is of this 1840 reverse of 38 SLH in regards to the scratched initials on the obverse. If you are a dealer and had to put an asking price on it, what would that be?
First - this coin is cool because it was minted in New Orleans, even though it doesn't have an O mintmark. The coin has AG-3+ details, but I think the reverse rims are worn into the lettering enough that I have a hard time calling it G-4. While the coin is scarcer than a regular 1840, it isn't really rare. Problem free G-4 is in the $150 - $175 range. With the lower grade and the graffiti, that probably puts you in the $50-$75 range.
Did anyone notice that there is somelike "M C" scratched over the Seated Liberty on the obverse? It's a shame because otherwise it would have been clean, low grade coin.
Two years ago I purchased a classic head half eagle at spot. It is a lovely AU coin with exception of an “X” lightly scratched above the eagle. Otherwise it should have been an $800.00 coin.... This is the one result of the TPG’s that I do not think has been healthy for our hobby. It has created something of a purity among collectors that have a disdain for anything other that exceptional specimens. As a result, coins with character are deemed tainted. I wouldn’t expect 50% of the value of an unmarked piece unless you find a collector like me that appreciates the historical significance.
