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1857-S Double Eagle/ vastly overpriced....
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<p>[QUOTE="fiddlehead, post: 3010032, member: 31286"]Yep. Eventually they will be priced like the other common dates. I've never been attracted to uncirulated coins, but I do like xf40 to AU55 or so - more mojo you might say. There seem to be a lot of issues that are more common in MS grades - speculation is because they were "put up" by collectors when they were issued and then the circulated coins were gathered up and melted. I've always wondered what the big attraction is to mint state coins - unless of course they are MS 66, MS67 or higher - that I can understand, just because they are near perfect. As to 1857 - I was happy to get a CAC quality 1857 Philly mint double eagle and it is actually a relatively scarce coin in circulated grades. Fewer than a thousand estimated survivors and around the middle of the pack in type one rarity. I was happy to get it a few years ago and realized at that time (5 yrs ago) it was already more scarce than the 57S - which was popping up everywhere. That said, I'd like to have shipwreck coin, but I don't want to pay a big premium for it. Since technology has made shipwreck recovery relatively easy (albeit expensive, but wow, not when you find tons of gold on them!) they will become more and more common. But that coin that was minted in New Orleans and on the street in the 1850's? Not so common.[/QUOTE]</p><p><br /></p>
[QUOTE="fiddlehead, post: 3010032, member: 31286"]Yep. Eventually they will be priced like the other common dates. I've never been attracted to uncirulated coins, but I do like xf40 to AU55 or so - more mojo you might say. There seem to be a lot of issues that are more common in MS grades - speculation is because they were "put up" by collectors when they were issued and then the circulated coins were gathered up and melted. I've always wondered what the big attraction is to mint state coins - unless of course they are MS 66, MS67 or higher - that I can understand, just because they are near perfect. As to 1857 - I was happy to get a CAC quality 1857 Philly mint double eagle and it is actually a relatively scarce coin in circulated grades. Fewer than a thousand estimated survivors and around the middle of the pack in type one rarity. I was happy to get it a few years ago and realized at that time (5 yrs ago) it was already more scarce than the 57S - which was popping up everywhere. That said, I'd like to have shipwreck coin, but I don't want to pay a big premium for it. Since technology has made shipwreck recovery relatively easy (albeit expensive, but wow, not when you find tons of gold on them!) they will become more and more common. But that coin that was minted in New Orleans and on the street in the 1850's? Not so common.[/QUOTE]
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1857-S Double Eagle/ vastly overpriced....
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