1847 N-6A large cent

Purchased this coin today from a long time collector. Supposed to be R-6 in this die state with 13 to 30 known. Cannot find any other examples of this die state to compare to. How would one value a coin like this? N-6 is common at R-1 but this A die state is very rare.

 

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The problem is it will only be worth much of a premium to someone who is collecting by die state. And while the die state is rare, so are the interested collectors.

 

Exactly! One can get a slabbed one for under $50.00 in F-30.

 

Agreed on the small # of die collectors but try buying a common date large cent with a cud on it for a normal price.

 

It will help it sell quicker, but not for much more money. Late die states with cuds have a much higher demand then the early die state stuff.

 

Right, but for every 10 collectors of late die state large cents there is 1 who cares about all the die states. And I would point out, the absolute population of late date large cents collectors who collect late die states is already a very small group, maybe 20 serious collectors, maybe.

Once those late die state coins with cuds get a population over about 15 or 20 coins the price drops dramatically, because the 10 die hard collectors have their coin already...

 

No, one can not get an early die state N6 slabbed in any grade for under $50, because you won't find one available for sale. It is a very rare coin in this die state.

 

The average collector can SEE a cud. When I looked at your coin, my first thought was "I don't see any thing indicating a rare die state or anything unusual"; BUT you seemed to know what you were posting and showed the microscopic PUP. Anyway, I was too lazy and uninterested to look up the die state.

IMO, only a specialist would pay for this and IMO, the pop is so low because ONLY a specialist is looking for these. Once the die is polished that marker is gone. Perhaps that's why they are elusive.

 

As a variety collector if this specimen was a 1847/1847 or a 1847/47 small 7 then I would see some value. As is I see a $33-$45 retail coin. That is pretty common .

 

Might have paid a bit much at $50 for this coin but I think its pretty cool to have a die variety with 13 to 30 known. Maybe not a rare cud variety but the same grade or so of those type of coins he is asking $300 or so for. To me that would be harder to resell someday at around what you paid for it than my $50 coin. Even if I get no bites from a die collector I think the coin is worth the 33 to 45 price as paddy stated.

 

In the long run, you did good and you are happy with the coin. That's all that counts.

 

I got lucky at a LCS and picked up a 47/7 for $25. No it's not the best condition but could not turn it down.
Not knocking your coin, and at the price point paid not bad at all.
I suspected that you had more than $50. Into the specimen .
There's no one here who hasn't over paid at one time or another in their collecting career.

 

[QUOTE="Paddy54, post:
There's no one here who hasn't over paid at one time or another in their collecting career. [/QUOTE]

You sure have got that right Paddy.

 

I can think of a few right off the top of my head I overpaid for. They were growing pains & lessons learned the hard but sometimes best ways.

 

After being in the same sort of business for 50 years as well as collecting coins since the age of 7... I can tell you this....I have learned far more by my mistakes then triumphs .
There's something to be said about the school of hard knocks.
I always hope to share with others the less bumpy road.

• But we humans seem to have more recall by error. To those of you whom aren't human.... I'll leave you to your own means of dealing with us with the "opposable " thumb!

Sp? Opposable

 

funny thing about overpaying for coins. The coins I am still underwater several years later after buying them are key date slabbed coins. 1893S Morgan, 1909 SVDB, 3 legged buffalo,etc, etc. I have bought and sold a few hundred large cents the last few years and am ahead of the game in that dept. Most were low end coins that I averaged a few bucks on. I feel pretty ok on the coin I just got actually.

 

Jerry I only add this because it pertains to the conversation. A few years ago there was a certain type coin that seemed popular at the time. Some where going for a premium. At the time what I paid was good for the coins but the fad started to waiver. Now trying to unload them is difficult to just break even for what I paid. I'll hold on to most for now & hope the next generation likes them so I can rid of them for a small profit. I do buy & sell collectable's to feed my coin collection. Feeding g the beast so to speak.

 

Paddy when I get some time maybe this weekend I picked up a couple of toned Roosies I want to post. After all you sparked my interest in them.

 

But you may not have over paid for them at the time. I know I bought a 3legged buffalo - did not over pay for it at the time, but a couple years later I sold it. When I start looking at prices, boy they had dropped.

For large cents I buy based off the look - not the die state. Then again I am only doing a dansco album. PS - I personally like the way this 1847 looks.

 

Does it have a line coming downwards and to the right, from the dentils to the right of the 6th star? I was trying to look myself, but I cannot get the photobucket pictures to expand on my phone. Nice looking coin!