1798 Draped Bust Dollar on auction - Comments?

Hi!

This DB dollar is on a public auction. Some have questioned its authenticity, perhaps due to its possible granulated surface (could be toning or debris?) and wear pattern. It has also not been graded my a third party.

From what I can see its a 1798 Pointed 9 - 4 Lines variety, and one of the possible 23 die varieties PCGS lists (its not 10 arrows - narrowing down from 25 to 23 die varieties).

Here is a link to the auction and auction description below:
https://www.sixbid.com/en/auctiones...ollar-1798-b-br?term=1798 dollar&currency=EUR

USA. AR 1 Dollar 1798 (39-40 mm, 26.23 g). Draped bust/Heraldic eagle.
KM 32. Rare. Fine.

Thanks for any comments!

 

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@Conder101 @Publius2 @DBDc80 @Dougmeister @LRC-Tom @TheFinn @johnmilton Would you be able to help out with a opinion on the coin in question? Appreciate any comments!

 

Looks authentic, but a ground find. Corroded.

 

I would agree, the coin does appear authentic. However, i would approach with caution, as the coin has highly granular surfaces. This coin would not straight grade by any of the major certification services. Also, the reverse of the coin is weakly struck in the star area, and the motto has more wear than what would typically be seen at this grade level. My frank opinion, I would hold off and acquire a problem free (preferably slabbed) coin.

 

I am personally questioning the date.

 

Well-known variety. That suggests it is authentic. There are no known counterfeits of this variety yet

 

Ah, ok! Thank you, I am not yet well versed in early US coinage. Just the later stuff.

 

I looked at all the 25 varieties with PCGS - and my suggestion is perhaps die variety B-28 BB-118? Any comments on that? @TypeCoin971793

 

Which variety do you think it is?

 

That is correct. Several varieties use this obverse die, but the diagnostic on the reverse is the A in STATES. It is crooked on the B-28

 

Thats great - thanks for verifying! And for the die diagnostic tip!

Im not at all experienced with identifying die varieties on these coins, so I just tried the elimination method looking at PCGS Coin Facts photos.

 

Unless you need to find one cheap, I would stay away from that one. The type can found in decent grades like VF, and it’s not hard to find. This one would a bear to resell unless it’s very cheap. I am not a fan of problem coins when the better pieces are available.

 

Why wouldn't the owner have it certified as genuine by a top grading company prior to auction? Once you get into 4 figures I think this should be mandatory.

 

Well, maybe not mandatory but highly recommended given the large numbers of Chinese counterfeits that are offered.

 

Every 1804 dollar was at one point raw. Most European dealers refuse to send coins in to their plastic tombs.

 

Thanks for reaching out to me, but I can't add much if anything to what others have said. This one looks genuine, but has had what the services call "environmental damage"... corrosion from being in the ground for multi decades, or otherwise exposed to moisture and probably acidic conditions. Not a coin I would like to own.

 

Hard not to agree with that. I think the main issue here was that the surface looked questionable in the photo, but some have also commented on the flatness or sedated look of the photo - making it a little dull and perhaps questionable. Especially since its raw.

 

Hard not to agree with that either. Could be different reasons that the seller didn't grade it prior to consignment. Perhaps a estate sale or a timing issue. The auction firm could also have submitted it for grading too, but guess they decided not to.

Also, I don't think its the same culture for grading coins in Germany or Europe in general I think as in the US.

 

Thanks for replying anyways! I agree with you - think I would have skipped this one too - unless being offered at a very desirable price

 

I agree totally that the Europeans, in general, don't like to slab their coins, nor purchase them slabbed. In Norway they are familiar with NGC and PCGS slabs, but most high-end collectors aren't impressed with our grading standards.

Steve