A Coin My Boss Never Owned~Until Today!

We had a rather scarce coin walk in the door today and it now belongs to my boss. He's been in business for 42 years now and NEVER owned one.
Have a look.

http://i182.photobucket.com/albums/x275/clembo1872/forums/tradeo1.jpg
http://i182.photobucket.com/albums/x275/clembo1872/forums/trader1.jpg
http://i182.photobucket.com/albums/x275/clembo1872/forums/tradeo2.jpg
http://i182.photobucket.com/albums/x275/clembo1872/forums/trader2.jpg

A mintage of 960. My coworker and I are really wondering why this one didn't slab as a cameo. I've seen this coin in person more than once and it's very frosty.

An interesting story how this coin came in to the shop as well.

I actually first saw this coin at least 10 years ago. Well before I worked in the shop. A good friend called me one day about some coins that his brother-in-law and brother-in-laws father owned. They wanted to know if they could come over to my house so I could look at them. No problem I said.

They came over a few days later and I'm expecting to see the usual mish mash of common coins. We sit down at my kitchen table and he starts pulling a few coins out. Nothing much just a bunch of PCGS slabbed $20 Liberties and St. Gaudens.
Then some odd type coins. Nothing fancy. A proof Barber Quarter, Shield Nickel, 3 Cent Nickel and all slabbed. Everyday stuff.
'The last thing he pulled out was the Trade Dollar pictured.
Obviously some heavy duty stuff and I gave him some idea as to waht it was worth and asked about how he acquired it.
Apparently he'd bought it years earlier as an investment from someone in Texas I believe. They called him out of the blue after several years and offered to buy it back at what he paid.
That's when they decided to ask someone with a bit of coin knowledge. The coins had appreciated greatly and I highly suggested he tell them to not insult him anymore.

Seems they did and I didn't hear about these coins for all these years until a few months ago.

I would run into his son once or twice a year and I get a phone call from him out of the blue. We had a bad flood in this area last year and his father's basement was destroyed. Literally filled with water. Turns out they remodeled the whole basement and it was NOT cheap.
His dad is approaching 94 years old and really doesn't have a clue how much this all costs. He did and decided it was time to sell so he called my buddy who informed him I now work in a coin shop.

I arranged for him to meet with my boss and a few months ago he bought about $17,000 worth of coins. He had the Trade Dollar with him but did not sell.

Then today he comes in (I wasn't expecting him) with the remains of the collection INCLUDING the Trade Dollar.
My boss has a horrible memory at times and starts to take the "I don't want to do a free appraisal" approach. Luckily my friend is an easy going guy. I overhear this and immediately tell my boss "I've known this guy for years and he wants to sell". Adding "you bought some nice stuff from him not long ago".

That jogs his memory. The rest of the collection was purchased today and my boss paid strong.
So I get one more look at this beauty. I reckon it won't be around long. We'll find it a good home.

 

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Very cool coin. My coin shop had a proof trade dollar last time I was there, but nothing like this one. Theirs was a low grade cleaned proof - lots of hairlines.

 

I think that coin was slabbed before NGC labeled proofs as CAM/UCAM. Perhaps someone more versed in the timing (Conder/Feld/???) can confirm this.

 

p.s. that's an amazing coin!

 

p.p.s. my first thought upon seeing the large photographs is a possible upgrade. Have you discussed this? What does it look like in-hand (i.e. any hairlines, colorful toning, etc.)?

 

Great story, and one the most awesome coins I've ever seen!

 

Wow, just wow.

 

That's some find. Maybe your boss should lighten up a bit about doing "free appraisals." You never know where it will lead.

 

He's getting older, wife had a stroke in February so a lot on his mind Cloudsweeper99. Plus dealers don't want to do free appraisals but BELIEVE ME I was glad I was within earshot when he said that.

He can remember what happened 20 years ago but give him a face to remember (even if it was a decent sized deal a month ago) and he's lost.

I "jog" his memory a lot and it usually turns out ok.

 

Excellent points Leadfoot and I will bring them up at work. Thanks.

clembo

 

I dunno Doug, you think they would be that hard on a coin like this? I know they have set standards (NOT) but I think this would get passed as a cameo based on what I see. Anyone know the Pops on this coin? Clembo, tell him that its a Chinese counterfeit in a fake slab and I will give him melt for it. : )

Nice coin buddy. It amazes me that coins like this still pop up from time to time from an unknown source. I went and looked at an 1887 Proof set last weekend and man.....

 

Very nice coin worthy of any collection. ( if one could afford it!)

 

I believe the slab is NGC5, used from '92 to '97.

Ref: http://forums.collectors.com/messageview.cfm?catid=26&threadid=220185&STARTPAGE=1

 

p.s. I will also wager all of my 470 CoinTalk credits it will at least go CAM if resubmitted.

 

*************
I work in a large nursing home. These are classic symptoms of Alzheimer's
disease which has several stages. First stages can develop anytime after the age of 40 years old. There is a drug called Aricept [Donepezil hydrochloride] and other newer drugs that can slow down the progression.

 

I second that!! WOW Clembo, keep us posted on the $$$ of that coin

RickieB

 

A real gem!!!