Opinions on this two cent piece please

Ok gang,
What do you think? It is graded PR64RB by NGC. I like the color and think it is a great piece for my budget range. I already have the highest bid but live bidding does not start until tomorrow. (If you know which auction I am talking about, please do not bid on this coinJ) I literally have been thinking about this coin almost obsessively for the last week (unhealthy, I know…) I plan on bidding a higher amount to basically ensure I will win but before I do I would like some opinions from the more seasoned collectors to make sure I am not doing something stupid. The current price is around $600-700 and my price would probably top out a few hundred more than that. Do you think I could do better with that kind of money? My line of thinking is that most of the really beautiful proof two cent pieces are in the 65 range or red and both of those categories are out of my budget. Proof 64’s in red-brown; that I actually like do not come up often so I wanted to jump on this one while I can. Opinions?

 

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I think you're going to be lucky to get it for less than 1200. It's gorgeous.

 

Well, it is a nice coin and your are not in the " overpay zone" yet, but I really feel the coin is worth about 750-800 at the very most. There is really no reason to think it could upgrade to 65 and the eye appeal is nice, but not spectacular. The good news is I think it will hammer for less than 800. I would probably put a bid in for 750 and if it goes over, let it go. It is you money though and if you really like the coin, go for it, but do it with the knowledge that you might find yourself on the short end if you try to sell it.

 

I concur 100%, but I like it so much I am willing to pay a little more to get it. I don’t plan on selling it for quite a while.

 

Good luck and let us know what you pick it up for

Mike

 

Really looks nice to me - good luck on the auction.

 

OK, looks like I won with a winning bid of $750 (You were spot on Mike) after buyers fees i am looking at $862.5 plus shipping. I might have paid a little more then some would have but I am happy. I think this will go good with my early proof collection!

 

jhinton how do afford these nice coins when you in the service? what rank are you if you dont mind me asking? an thank you for you service, my son is in the army this is him

 

I am no longer in the service ( I got in April 2011 after 9 years as a SSG) I am deployed as a contractor. I do the same job I did in the military only for a whole lot more money now. That said, I bought some of my most expensive coins while I was still in the army. I just had a budget and worked second jobs on nights and weekends. One of which happend to be at a coin shop

 

Congrats on the Coin

Mike

 

thank you. yea my father worked for general dynamics ,made a tank plant in cario , an was making 6 figure paycheck, o good luck an be safe my freind

 

Thanks, guys!

 

I find the splotchy toning (that some call "woodies") to be distracting and grade limiting.

However, it's not what I think about your coin that matters -- it's what YOU think about the coin.

 

Really? The light wood grain on the obverse is one of the things I liked about it. I hope more people are of your opinion, less bidders in the future

 

Yes, really.

Furthermore, I would wager that if you spoke to 100 type and copper collectors, more than 50 of them would agree with me, and 75 agreeing with me would not surprise me in the least.

But again, it's what YOU like that really matters -- I was only offering my opinion because you asked for it, and I hope you did not take offense.

 

Of course I didn't take offense. We all buy what we like and I am glad you and apparently 50% of type and copper collectors do not have good taste when it comes to two cent proofs with light wood grain toning. I would have had to pay more

 

I suppose I have bad taste then.

As they say, beauty is in the eye of the beholder.

Let me ask you a question. Why do you think the coin graded 64 and not higher? Do you see any hits or hairlines?

 

I see a few small hit on the obverse, one of them being rather long down the lines of the shield. I think it is a solid 64 from what I can tell from the picture but I have not seen it in hand. In hand it could be a lot different. What do you see?

P.S. I hope you know I was joking about you not having “good taste”…

 

I see a coin that is clean enough to grade 65 (or even 66 an NGC) that got a silent net down because of the "woodgrain".

Now the next question... Why do you think the coin got net graded?

And if I might be so bold as to offer the answer... Because of the (perceived) negative eye appeal of woodgrain. Said a bit differently, TPG's simply don't like the look either.

The same thing happens with carbon spotting on copper. Coins that are clean and lustrous enough to grade higher get (slient) net grading down. Doesn't make them bad coins -- far from it -- but as the cliche goes, it is what it is.

I am sorry if this is new news, and I did not think you were entirely joking about the bad taste, but I'll believe you if you tell me it is so.

 

And here's a little experiment to confirm/deny my assertion on woodgrain....

http://forums.collectors.com/messageview.cfm?catid=26&threadid=844739