1891-O seated liberty quarter

I'm looking to buy a 1891-O Seated Liberty Quarter from a private seller. He says that is graded VF-30 by PCGS and CAC approved. He wants to trade for $2,400 in silver and gold. The price sounds a bit high to me. Am I missing something? What do you guys think? Is the price to high? I will be providing pictures as soon as I receive them.

 

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It sounds high but IMO thats a coin that really deserves respect. The grey sheet is wrong on that coin. $2400 in trade is about what its worth IMO for a retail value. A very hard date to come by in that nicely circulated unblemished condition.Since it is a mid grade it would work well with most "working mans" sets
The Cert # will be 18054713 I bet

 

"Working man's" set, lol. Really? SL quarters?

I don't disagree its a tough date, but how many people are working on the set? There are so many huge stoppers in it that only very advanced collectors with very deep pockets are really working on completing it IMHO.

Therefor, I am always leery of paying big money on grade/mm rarity in SL quarters. OP, if you do find a collector who is working on such a set, let me know. I have a very nice VF 69s I would be willing to sell him.

 

Thanks for the info, very helpful. I don't think it is the same ocin because the seller mentioned that the last of this type sold in July 2011 but I asked for the certification number so I'll update the post when I hear back.

 

If this is the coin you were referring to, in my opinion the buyer paid way too much.

http://coins.ha.com/c/item.zx?saleNo=1157&lotNo=3513

 

When it comes to a lot of the seated material you can throw out the greysheet.

Like Chris said its an advanced collectors series and most attention is paid to die marriage/ state.

 

Not only that, but if you're a condition collector like some folks I know. A full VF type set of the SL quarter series will cost several arms and legs. By comparison, just the common minted slabbed VF35 76-CC that I bought over the holidays was not cheap. Additionally, a truly problem free set in any grade is quite a challenge.

 

$2400 is a fair price for it especially if you can do it in trade.

The Seated quarter collection is not like collecting Memorial cents, it is a challenge to say the least. It is a great long term goal though. Take away the 1870-1875CCs and it is actually a series to go for. I have been working on a set of proofs for over twenty years, I still have a good ways to go and I'm pretty sure that I will never own any pre 1855s.

 

I just checked my e-mail and the seller provided me the certification number. 5525.30/18054713.
He also sent me some scans. It is the same coin you mentioned Bedford, nice job! Here are the scans:

 

I'm not going after this coin because I'm passionate about the coin or series. The seller wants to trade basically for gold or silver bullion. He wants Silver Eagles and/or US Mint gold bullion coins. I'm approaching this deal as an investment. I have to figure out if I think this coin will appreciate more then the gold and silver I'm trading for it. Also, I don't mind sitting on this coin for 5+ years. That's why I'm defering to you all because I don't know enough about this coin. From what most everyone is telling me the coin is not for the casual collector but that doesn't necessarily mean that the coin will appreciate enough to make it worth my expense, just that it is expensive to buy right now. Can anyone give me their insight on how they think this coin will gain in value or not gain in value?

 

They call it the hobby of kings for a reason, that reason is that it is and has always been a rich persons hobby. Key date coins will always be worth fair market value. As a collector, I would much rather the SLQ over modern bullion. That's not to say that the market is always on the rise though.

 

I know trying to predict what the value of a coin is going to be in 5 years is impossible. I'm really hesitatant about this deal because I know what PM's are worth and I have no idea if this coins price is inflated by the seller. It has almost no intrinsic value and I've always focused on buying PM coins, so this isn't really my area of knowledge.

 

That's a tough coin and the example you have been offered is quite choice and attractive. However, this is not a key date coin and the Seated Liberty series is not heavily collected by date and mintmark. Therefore, key date collectors are not likely to gravitate to the piece and the pool of Seated Liberty collectors who would want the coin is going to be shallow. Truly, I would keep the bullion and trade it for something different, if this were my choice.

 

As much as I hate to disagree with Tom, as a collector I would highly value that issue. I do agree that it is a limited market. That said, never do a trade if you are unsure. Better to regret your decision than to make a bad one.

 

I would agree with Tom on every point. IMHO if you wish to buy a key or a great type that is great. To me this coin is somewhere in the middle, not particularly a great place to be. This series is fraught with tough coins, and this no where near the toughest.

Only in my view, if you wanted a quarter, i would get the nicest bust quarter you can afford.

 

I like the coin, but have no input on the deal. I personally won't spend that much on a single coin. If you want a truly scarce coin, there are better ones in the set. The three PCGS Everyman sets have coins in lower grades, so maybe there is a slight market for it.

 

I wanted to check everyones posts before I started work so I have the day to consider them. Neither myself or the seller is in a rush to get this deal done but I'll update the thread with whatever happens. Any and all help is appreciated. Thanks for everyones input, all of it has been very helpful.

 

Those are the key words if you ask me. If a collector ever has any hesitation about any deal, I say walk away as it's more likely a deal you will regret later on. That's how I approach anything I buy. If I have just a slight of doubt about a huge purchase, I walk away and I win every time.

 

After having a day to think on it I'm not buying the coin. It's not the deal of the century and it's not a coin that I love and feel that I have to buy.

 

chew 'em down to two grand. Then you'll feel better about it.