1877 Indian Head Cent - OK, Beat Me Up

Discussion in 'US Coins Forum' started by statequarterguy, Sep 29, 2011.

  1. statequarterguy

    statequarterguy Love Pucks

    Why would you or wouldn't you buy this 1877 Indian Head Cent? What looks like a file mark on the obverse on the left edge/rim at 9:00 is a reflection. The spot to the right of the last S in STATES appears to be a carbon spot. What would you grade it? If you would buy it, what would you pay for it? Thanks

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  3. RaceBannon

    RaceBannon Member

    G6 - VG8. $650-850 Assuming it's not in an NCS 'details' slab which would mean it's damaged or cleaned. Looks like it's in an NGC/NCS slab, and displays the diagnostics for the 1877.
  4. statequarterguy

    statequarterguy Love Pucks

    It's in an NGC VG8 holder, not details.
  5. RaceBannon

    RaceBannon Member

  6. statequarterguy

    statequarterguy Love Pucks

    Yeah, I kinda like it compared to others I've seen. But I'm concerned about that carbon spot (if it is one). Is it going to grow? Did NGC do anything to "conserve" the spot before slabbing - if not, can anything be done to “arrest” it? It looks big in the blow ups, but may not even be noticeable in hand. I’m still waiting for someone to criticize it, LOL. If you were negotiating a price what would you use to knock the price down?
  7. lkeigwin

    lkeigwin Well-Known Member

    What spot are you referring to? It's hard to tell from the photos. I do see some old verdigris spots. But nothing worrisome. Nothing can be done about carbon spots.
  8. statequarterguy

    statequarterguy Love Pucks

    If you didn't, click on the obverse pic to enlarge it. Then look for the black spot with a "halo" around it, to the right of the top of the last S in STATES.
  9. statequarterguy

    statequarterguy Love Pucks

    Just noticed something else. On the reverse, in the field around ONE CENT, notice the darker brown diagonal stripes? Is that "old wood" or something else?
  10. lkeigwin

    lkeigwin Well-Known Member

    I think you are over analyzing it. The spot you're referring to is simply more of the same throughout the coin. The IHC is old. There is some verdigris. It's no longer active and not a worry (that it will get much worse). This is the territory of old copper.

    It really isn't a bad example at all. I don't know what price you're working. But for what it is, I think it is fine.

    Key dates like this are low-risk, IMO. It's 140 years old and not like more are going to spring up suddenly.

    I like it. And I'll say this: while you are on the fence someone else with more determination will come along and snatch it from you. And you will look back and say "Damn...I wish I'd bought that".
  11. statequarterguy

    statequarterguy Love Pucks

    Alright, guess it passed the test. If you guys can't find a reason to run from it, it must be ok. Thanks
  12. davidh

    davidh soloist gnomic

    I just saw three 1877's at a show last week, each was VG8 and the asking price for each was $1200!!!
  13. statequarterguy

    statequarterguy Love Pucks

    Well, I bought it, paid in the range mentioned here, but don't want to say the exact cost because I may be trying to sell it on the internet someday to upgrade it. I'll let you all know if there's any "surprises" when I get it in hand. Thanks again.
  14. mark_h

    mark_h Somewhere over the rainbow

    I agree...
  15. statequarterguy

    statequarterguy Love Pucks

    LOL! I don't know, this is the first one of these I've bought and just wanted to get opinions about what is important. I've learned the hard way for a few coin purchases, so tend to be over cautious when buying something unfamiliar. Thanks again for the education.
  16. mark_h

    mark_h Somewhere over the rainbow

    And I can certainly understand your position - I think at times I do that also and probably miss a few good coins. Now - let me prepare you for the second lesson, which I have learned, - if or when you go to sell you may or may not re-coup all your money. Even key date prices vary. I believe I might break even on my 1877, but no guarantee's. Prices were up when I got mine and now it might go $100 or $200 less. I don't regret buying it, but just another lesson. The second part to the lesson is on my IHC's on some of the non-keys, common dates I wish I had spent more to get better coins to start with. Again, no regrets buying them - but now my tastes are a little better(I certainly know what I am looking for better now) and sometimes it is more expensive.

    Enjoy it - I like the way the coin looks.
  17. swhuck

    swhuck Junior Member

    The assigned grade surprises me a bit (I'm in the G6 camp), but it's a nice example of a key date. It would work nicely in my collection. :)
  18. gbroke

    gbroke Naturally Toned

    Great coin. Congratulations on your purchase. That is a nice key date anyone would love to have. Also, my wife says your nuts for spending that much on a "penny".

  19. johnny54321

    johnny54321 aspiring numismatist

    I personally think it is a very solid VG coin, stronger than most of the overgraded 1877 junk out there in TPG slabs. I've seen these in VG without full obverse rims. Anywho, great job!
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