Just got this 1836 Reeded Edge Bust half in today. Mintage of 1,200! The previous owner attempted to have NGC grade it but they sent it back as "Genuine: Residue." I bought it for $1000. The residue was tape residue. It was yellow and it came off easily in acetone. BUT this thing has been cleaned, probably tooled, and has some sort of crusty red garbage in the devices that won't come off.
Is there such an eager market for this date that would warrant spending $1000 on a problem coin? Not a criticism - just wondering...
It's probably a 3500 coin without the cleaning. I would say 1000 is a decent price. By the way, I don't see any sign of tooling in the pics. It does look cleaned and the scratches are a distraction. All in all, a little tooling to smooth out the fields might actually improve the looks of the coin.
C-B-D yeah lady luck sometimes smiles other times she not as kind. When ever removing glue or tape use boiling distilled water. It will not hurt the coin as other chemical used. The heat and boiling bubbles will remove the sticky substance . As for you kicking your self don't as everyone in here has done it, at one time or another. And if they have not made an error in judgment well they are not human . As far as the coin goes live with it or sell it. It's rare so someone going to want it if you don't . You don't always hit a home run... sometimes you strike out..... or worse sit on the bench!
I presume in hand the eye appeal is much improved over when you received it. Good luck with the resale.
I clearly have much lower standards than all you numismatic high rollers. Given the rarity of that coin, I'd be thrilled with nothing more than the "genuine" certification. "Fewer than 1200 in the whole world and I own one? Cool!"
No not at all... it was my take on it the OP was having second thoughts . To each their own, there's no right or wrong answer here. It's what the buyer likes or excepts. Yes a coin of this mintage is rare no matter in MS state or AG with details. And should be respected for its rarity.
The reeded edge 36 is a classic key for Capped Bust half collectors John. MOst do not survive. I know it seems crazy to us who can buy a coin that maybe 30 are known that no one cares about, but every collector of CBH knows of this piece.
We aren't high rollers, we just collect different things. John has coins that maybe 10 survive, (or less), but no one knows about, (and even fewer care). Btw, go to nabateancoins.com for his website. I kid John, but he has done first rate research and collecting in an area I do find very interesting. I was just kidding him.
I wasn't disappointed in it. It is what it is and I feel I got it cheap. I have owned one other. An PCGS MS62 that didn't CAC. It sold at GC for like $9000, which was a couple thousand less than I thought it would. This one, however, is an everyman coin!
Actually www.nabataeannumismatics.net Yes, I do have coins of which only a few examples are known, and one that's currently unique. I understand paying top dollar for rarities, but I just don't know this series, which is why I asked. I know the OP is a very experienced dealer, and wouldn't buy something that would take a loss. It's curious to note the disparity among US collectors that seem to be obsessed with "clean grades," but are more than willing to compromise, sometimes dramatically, for a key date.
Interesting observation. Having interacted with a lot of dealers at shows, almost all turn up their noses to problem coins, but they .do make offers on problem rarities like this one. But not before verbally ripping it to shreds as a means of prepping you for the forthcoming low ball offer.
Well, I sent it off to PCGS for authentication - same day it arrived. It looks better with the yellow tape residue gone. Being such a rare coin, I thought it would be easier to move in a genuine slab.
There is no hard evidence for the mintage number of 1,200. This was a reckoning done by Walter Breen in the mid-'50s that has unfortunately stayed in the hobby-industry and taken on a life of its own. The true number is still low, but might be anywhere from 5,000 through 25,000.
It's still a scare issue that few will own and it isn't bad looking, either. For those inclined, there is a die marriage for 1837 that uses the same reverse die as the 1836 RE half dollar; it is a cool coin to find in the wild.
