Good Buy? $2,200 1862 PF63 Seated Half Dollar

Thanks !! I was afraid to find out...lots of times, it splits apart and you have a mess on the item.

 

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To state the obvious; for the same reason a car dealer affixes those annoying decals to your brand-new car. Just be thankful your mother's obstetrician didn't follow this practice.

Anyway, they peel off easily and don't leave any gummy residue. I usually take my slab obverse and reverse photos with the sticker affixed in order to provide more documentation to my records of acquisition. Like below. Then I peel it off.

 

It's not a half dollar, it's a pattern. I would personally rather have an issued coin.

 

Grade for grade yes.

Inventory tracking. It's either you do a sticker or you put every slab in a plastic sheath with a sticker on it

 

I will never buy anything from AMPEX. I don't agree with their policies or how they do business, but that's just me.

 

But wouldn’t PCGS have noted any environmental damage?

 

That’s not a Civil War one though

Or are the Civil War dates in the same price range as that one?

Also did you have to bid for that? I’m not really good at auctions and prefer the “buy it now” style purchasing.

 

Don’t put blind faith in what it says on the slab. You still have to be able to grade and spot problems.

 

John Milton said: "Don’t put blind faith in what it says on the slab. You still have to be able to grade and spot problems". Many collectors and dealers on Coin Talk have mentioned probable environmental spots on straight graded coins. We have all seen TPG coins straight graded with sneeze spots now eating into a coin, fingerprints and it's oils eating into a coin, PVC eating into a coin. Nobody is perfect. That is why many knowledgeable and old time collectors don't buy the holder, they go by their eye appeal of the coin. I just went to the PCGS grading site and looked at the MS-62 reverse on an 1884-CC Morgan. It has many black spots on it and one that looks like it is invading the silver. For eye appeal, I don't know how it got a straight grade but the issue is there. And the front IS an MS-62 qualified. You can find better MS-62's without spots obverse and reverse. I see many copper coins where the TPG "overlooked" environmental spots which just get bigger and bigger. Coin collecting is a learning experience when it comes to toning, environmental issues, and cleaning. Even PCGS mentions: "Environmental Damage. Environmental damage includes such problems as corrosion, excessively dark toning and verdigris". Lots of reading to do when you become a serious coin collector.

 

Owning a pattern is definitely on my numismatic bucket list. Even though I have a limited budget, I like coins that are not generic. Nineteenth century proofs also fit that bill. Even though they are supposedly “common”, with mintages in the hundreds they are a lot rarer than MS65 Morgans, 09 SVDB Lincolns and other similarly hyped coins.

Personally I like the Seated half that @Seated J posted a lot better than the Apmex offering you are considering. Even if slabbed, the possible environmental damage would be a turnoff, especially since it’s copper. I’d suggest looking around on Heritage and/or GC.

 

@Gam3rBlake, my best advice is pass and for multiple reasons. I will list them below and I hope they don’t come off as harsh.

If you are spending over $2k on a coin and need an internet community to confirm if you should buy it than the answer is no. The fact that you didn’t understand this as a Judd pattern issue and not a normal proof prove that you need to read more before thinking about buying. This coin as mentioned has a very specific market and would be hard to resell if needed. The coin also does not appear to be very attractive and the fact that it’s being sold by APMEX is also a turnoff for me. I suggest buying a book on grading first as that is something critical you should have a good grasp on before you even think of buying coins over $100. I would look at either buying a book on a series or specialty that interest you so you are well versed from a knowledge standpoint. Also the internet is a great thing; use it. There are so many online resources that you can utilize to increase your knowledge on any subject really.

Also now is the best time to really define your numismatic and collecting goals with it being a New Year. Spend some time establishing those and it will really boost your enjoyment of the hobby.

 

These are my thoughts exactly

 

Pattern coins are a different beast all together. I have a number of pattern coins but, i prefer coins that are very similar to the coins produced. Some patterns were actually die trials, testing if a metal is suitable striking or to show others for approval for use. Then there are others that were done for other purposes. Some were used to trade collectors for coins the mint wanted for the mint's own collection. Some were made a sold for a profit. "Midnight Minting"

 

Thanks I appreciate your advice.

You’re right I know nothing about Judds and I should read more and learn before spending that kind of money.

I have done a lot of reading on lots of other coins including ancients and paper currency so it’s not that I’m totally ignorant. Just in this situation.

If it was a normal silver PF 1862 I would definitely have bought it but being a copper pattern coin is a big difference and I forgot to consider that seriously.

I’ll probably stick with what I know and use the $2200 to buy a nice MS64 St Gaudens Double Eagle xD

 

I had never even heard of GC but ever since I saw that PF62 I’ve been like a kid in a candy store all afternoon!

Im just wondering if they do straight sales instead of auctions where I have to compete with other bidders.

 

GC stands for Great Collections auctions and coin facts.

 

Oh yeah I know that now

 

They usually do have a small number of buy it now sales but mostly for modern commems and bullion coins.
I prefer to buy from auctions but some people aren't comfortable with them. When I'm interested in a coin I will determine how much I'm willing to pay, then subtract the commission to calculate my maximum bid. Bids can go up a lot in the last few minutes before they close, try not to get caught up in competing and spend more than you intend. Their auction archive can help you figure out what a realistic bid might be.
Good luck and beware the last second snipe!

 

Ronsonol lighter fluid cleans the remains nicely, without ruining the slab.

 

I dislike auctions. I almost never do well in them, and I have been a collector for 60 years. Some people think that's it's okay to bid or keep bidding because someone else is bidding. That is not a safe assumption. All it takes is two fools or uninformed bidders to drive the final price to ridiculous levels.

The buyer's fees are one more problem with auctions. Some people just ignore them. Some dealers can talk all they want that they don't matter. If you are a collector who has a narrower interest than dealers, you know that the buyers' fees sour many auction bids. I much prefer the auctions that don't have them. When I was a dealer, I would loved to have been able to 20% to invoice after I closed a deal.