For guys like me, these are some seriously expensive coins! (And I'm just talking about the large/heraldic eagle... not even gonna touch the small eagle variety!) My Greysheet is ready to be updated, but the prices I have in "Good" for 1798, 1799, and 1800 are around $800. 1) Are those still valid numbers? G ~$800, VG about $250 more? 2) Why are these so hard to find problem-free? There are a decent number of these out there in VF and above, but the lower-grade coins almost always seem to have holes or other "details grade" issues. Is this because high-grade coins were only kept "high-grade" by collectors and upper-class whereas middle-class folks put holes in them so they wouldn't lose them?
You could not have been more spot on in your last paragraph. The times simply did not allow for the early settlers to be able to afford to keep too many of these and they did indeed hole them and carry them around their necks, under their clothing, on a leather string to avoid them being seen and robbed for. But that also created a problem when they tried to cash them in, missing some of the weight in silver. It was easier to avoid them completely. Mostly, well to do collectors kept them and banks used them in larger transactions.
Your price numbers of $800 in good and $1050 in vg are just a little off. For problem-free pieces in those grades you may have to go up $100 these days. Fines go for $1300 if you catch them at auction . Otherwise, you have to pay $1400-$1550 for a buy-it-now. VF will run you $1900 for a low end one with poor eye appeal, to $2750 for a higher end VF that looks nice.
These have become more and more tough to buy. A problem free g/vg will run around a grand maybe a bit over. Vg-f will give you a meaty coin. I'd say surfaces are extremely important on these as so many have problems. Prices on the bust dollars have steadily been climbing for the last few years this was what I was working on collecting before I got distracted by the trade dollars. Personally I love these coins
Draped bust , large eagle dollars are the most beautiful US coin ever made, IMO. I finally got my first one, after searching and researching for a year. It is a 1799 8x5 stars, xf 45 ngc. I bid 5500 for it at last year's FUN show (2015), but was outbid up to $6450. A year later, I found the same coin, and bought it for less than my 2015 bid! Patience pays off. Dougmeister, if you want a lower or midgrade coin, I suggest you consider a vf details coin. I occasionally see nice ones on heritage go for well under $1500. Some are dogs, of course, but a very patient eye can find nice ones for very reasonable prices. I'm talking about scratched, grafitti, or lightly cleaned coins with nice surfaces. Not the obvious heavily cleaned ones.
This is neither a promotion nor do I have any affiliation with...Steven Musil, who advertises on a regular basis in Numismatic news specializes in coins with details and seems to have his niche. You might want to check his listings or contact him if you are looking for a lower price and with minor details if you are headed in that direction. I don't have an address or phone # on hand but also don't know if this is permitted here. If by saying this I have crossed any line then my apology to the mods.
