1798 Draped Bust Large cent

Hello,

I have this 1798 Drapes Bust Large cent 1st hairstyle up for consideration.

Was just wondering what you thought of it? In regards of technical quality, surface and metal quality. Personally I think it seems like a nice looking coin, bit of an upgrade for me. The off-center strike doesn’t drag me down too much either.

Would appreciate any feedback.

Thanks!

 

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S-157 R2 Nicer than usual surfaces. The slight offset really won't add or detract from value since it's so common with these. It looks around F with the obverse a bit sharper than the reverse. It's unfortunate that the short side is where three dentils are connected by a small rim break/CUD (It's a close call.)

It looks like TPGs are giving comparables VF. I suspect it won't straight grade, but few do.

 

Thanks a lot for the attribution and your evaluations. What would you think it could retail for these days?

 

Without the offset, It appears $250 - $400 is an historical range, with a note that the Early Date middle and low end market is just now pulling out of about a 20% pullback. The right buyer might be willing to give a premium and others will reject it outright. It depends on the personality and preference of the buyer.

But please note, I am a collector, not a retailer.

If you're willing to take the gamble to maximize value, if this straight graded, it would bring in a significant additional premium. It might be worth it.

Here's one similar with an offset in a slightly different direction.

https://coins.ha.com/itm/large-cent...9-4334.s?ic4=ListView-ShortDescription-071515

 

The obverse has VF-20 sharpness, but the surfaces uniformly and lightly porous which takes it out of the choice category. The off-center strike has caused the reverse to be generally weak.

I am no good at placing values on coins with problems, but I imagine that the numbers given previously are accurate. Most any pre-1800 U.S. coin is going to be expensive if has no problems.

This one was has Type II hair, and it was not cheap.

 

Its a nice coin. But johns should give you something to strive for. Very nice example.

 

But don’t discourage him. That coin is about 10 times as expensive as the coin he is considering.

 

No no no..... I didn't mean anything by it. I like his coin as well. Wasn't what i was trying to do. I was actually trying to encourage him.

 

Thanks for your consideration. I ended up buying it since its a great upgrade from my existing harshly cleaned 1798. Ended up paying an equivalent of $250.

 

That was quite a stunning piece! Thanks for sharing.

 

Nice. It's a shame Early Large Cents have to be CHOICE to receive a straight grade from TPGs. Your new coin is definitely better than typical.

 

I have been known to show off a prize and never with the intention of discouraging anyone. So don't worry about it.

It's like a proud papa.

 

OK. Just one more step off topic. While looking for a pattern of when TPGs Labeled varieties, I ran across this old friend. I'm the Texas Collector referenced in the description. Note the label was wrong.

https://coins.ha.com/itm/large-cent...9-3116.s?ic4=ListView-ShortDescription-071515

 

S-179 by the way if you haven't already attributed it. It's also a great example of fairly common uneven wear/strike. The drapery is AU all day long, but the hair above the ribbon would not support it. Other times the reverse will be true. So my guess it is called XF?

 

Did you try to get it corrected?

Just curious .... whats the story behind you acquiring the coin?

 

While I discovered the coin variety, I never acquired it. It was out of my budget even at the S-16 price.

This discovery is documented step by step in my Attribute This thread.

https://www.cointalk.com/threads/attribute-this.288976/page-44

Starting with #863 which initiated my search of S-16s for comparables which led to my discovery.

 

Wow. Just wow. Maybe when i retire i can dedicate myself to that degree. But honestly... work stresses keep me from getting that focused on something that intriguing. That was amazing stuff however. Congratulations you worked hard on that. 2 thumbs up!

I think one thing that stood out was how long you continued to even call it genuine. Thats scary for me... that fakes are that deep and integrated into populations.

 

It's graded PCGS AU-53, CAC. Yes, it was blessed by "the world's greatest grader." Do you really think that you could find an early large cent like that in an EF holder? Those days are long past.

After getting into a body bag when I owned this one, it made it into an AU-50 holder for another owner.

 

I agree. The days of strict grading are long gone at TPGs. There is a remnant of strict grading at EAC, but holding the line is becoming more difficult.

But no matter how you grade it, technically, it is a beautiful coin that is rarely seen in such lovely condition.

 

It really comes down the same price. You can buy it “over graded” in the holder, or you can pay the same price or more with a lower EAC grade assigned to it. “If the ‘gators don’t get you, the mosquitoes will.”