1800 Draped Bust

Found this little gem at the local coin shop. The owner was gracious enough to let me photograph it as I could not afford this. Graded by NGC vf-25, the price on it is $2,100. Is it priced accurately for the condition and year?

 

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CDN (greysheet) for a VF20 (not VF25) is $2300. Recent Heritage sales for a VF25 have been in the $1800-$2300 range, so if it is straight graded, then yes, that's about right, and somewhat reasonable for the coin.

 

Thanks, if that coin is still available by the end of summer, I am going to pick it up. The owner said it's been in his case for months. So who knows. It is straight graded.

 

Are you sure it hasn't been cleaned?

 

I'd think the slab would say "Improperly Cleaned" if it had been cleaned. Can't see the top of the slab, but the OP would probably have mentioned that.

 

IMHO, TPG's are often lenient with older U.S. silver.

 

love these old dollars.

 

If it has, it certainly looks market acceptable to me.

I think that it's at a reasonable price.

 

Very nice looking. I would ask the owner what his best price to you would be and if he would do a lay-a-way with you. It may be gone by the end of summer.

 

IMHO, not VF25, nor even VF20, according to ANA grading standards:

VF20

Obverse

• >1/2 of hair details show (yes)
• Forehead and bust are worn but bold. (yes)
• Parts of drapery are smooth. (yes)
• Letters and star centers are plainly visible (letters=yes, star centers=no)

Reverse

• Head and breast are worn but some feathers are visible. (no feathers visible on head or breast)
• Some lines in shield are merged together. (yes)
• ~3/4 of wing details are clear. (debatable; I say "no", but you can disagree)
• Motto is complete (definitely not)

Having said all of that, I will also say that TPGs also go easy on the grading of these old, large coins. It is difficult, in my opinion, to find them problem-free, thus the prices are usually inflated.

I'd put it between F12 and VF20.

Have you searched Heritage completed auctions? I did a quick search and see several that have sold this year so far for <$2k that look pretty nice.

 

I didn't even look at the grade, just the originality of the surfaces.

I grade it F-15.

 

I have an 1800 that was graded as F15 by ANACS. It was harshly cleaned, and there appears to be some graffiti. Comparing the OP's to mine, just looking at levels of detail and wear, I would say this coin, albeit original, is at best F12. But I do now think it is overgraded by a significant amount, and might have some concerns that the next buyer would buy the coin, and not the slab, and the OP would have a hard time selling it for VF money.

Starting to second guess my opinion that it is priced within reason.

 

I think it is wildly overgraded and certainly wouldn't buy it as VF25.

 

The next the next time I'm in there I could probably take a picture of the top of the slab it is straight graded though

 

PCGS and NGC do not go by ANA grading standards.

 

Exactly.

Amen, brother.

I’d wait for a better coin with a min. grade of VF30/35 - a coin which actually has VF details, not one in a slab which says VF ;-)

 

That is why I asked these old type coins are something I normally purchase. But good to know, if he can get it below 2000 for me that be great

 

It looks original to me but I don’t think the grade is accurate at all. F-15 is right for this coin. So I believe it to be very overgraded

 

Nice original look and F12. No more.

 

That thing is far from a 25. I agree with those voting 12. Here's the reverse of an 1801 VF20 I just bought for reference. Notice where the shield meets the wing feathers on both.