what should I do?

I'm going to agree with the other members here.... I'd pass on it.

You might be just getting into collecting and thinking you want the rare coins even if they're problem coins.... I was in this boat when I started collecting. Collect what you like and what appeals to you... I assure you it'll stay in your collection a lot longer that way!

 

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In 30 or so years most of the old time collectors ( 60+ or so now) who make up the largest number of collectors of 'really old' coins and expect dings, damage, etc will be dead. Many of the newer collectors have caught the MS70 affliction in some form or another and would not be interested unless close to melt. I think making older collections then will only attract the ones with brains that are wired with obsessiveness, who will probably be much less in number than the current group. No offense intended as I am one of the obsessive

 

If it was a super rare coin that only comes to market every 5 years or it was some super popular rarity like the 1796 quarter, I'd be more inclined to go for it. Since it doesn't seem to be super rare I'd be more inclined to pass on it.

 

If you do your research you will find that rare coins are always deemed to be a sound investment, but a good reason to buy a coin is in liking it. If you like your investments then your collection can be your stock.

 

As of today, there are 25 other 1870cc on ebay in various grades, many of then not terribly expensive. I think you could hold out for a better example.

 

Have any of you seen Musil's full page ads in NN? He sells nearly 90% details coins. There's a market out there but certainly not for me.

 

I have my August 2015 "Coins" magazine and see the Musil ad. The majority of his coins sound like they've been through a war zone.

 

Anyone who says there isn't a market for problem material, either as the problems they are or fluffed up junk, is either kidding themselves or is a fool. This hobby is full of people who care more about price than quality, and will eat up most anything if the, ahem, "deal" is right. Now with that said, "rare" is a relative term that should never be used in such a general fashion. This particular coin, as a type/date/mint is certainly scarce, but isn't rare to the point one where one who would prefer a solid original example needs to settle for a problem as long as they're willing to pay for the right coin.

 

I say get it and trade it up over time. I'm not rich by any means, but have ammassed quite a collection over the years by doing this. So long as you don't overpay for the initial example, you will do well.

 

There is currently a very similar coin on ebay in the $500+ range with a BIN in a PCGS non-grade holder. The point someone made to me once was, there will always be another. Ebay is a site viewed my millions, so if this coin really is too good to be true, you will most likely be outbid in the very end by the snipers or see the coin in the $500 range scooped up before you blink. Most likely the people bidding on the coin you are looking at are probably also looking at the coin in the $500 range. If you can't afford what you really want, but just settle, you will most likely regret down the road having 300 coins that you settled on when you could have had maybe 50-75 coins that you just love. Many factors go into price though, some of which may bother you more than others. In the end, it boils down to what you feel is fair for what you are buying and stay away from the traits that bother you. There is a market for everything and a buyer for everything. Although coins are one of the few collectibles that historically have always gone up in value, it is best to buy out of love, not investment. Do you think many people in Greece are buying on Ebay now?

 

Just one question OP........will you still love her tomorrow? All times that I've so called 'settled' on something I've regretted it. A look in the morning and I say to myself, 'Oh Lord, what was I thinking last night'.

The girls all look prettier at closing time........

 

Let the Greeks eat cake.........

 

I'm gonna guess this is applicable to more than just coins...

 

I was young once........

 

How'd you know about yesterday morning? Sometimes I wish our bars closed at two...

 

The dollar ended up selling for $365 in case anyone was curious.

 

I kind of agree, if the coin is really nice to look at it, people pay more than what it is actually listed at. I just don't think people at that price range are going to go for some ugly thing with problems. Better off with something common that is nice to look at.

 

Can we get a link now that the auction ended??

 

I think this is the correct link:

http://m.ebay.com/itm/361331246169