https://coins.ha.com/itm/a/1362-7120.s It is problem-free, but not even a true AG3 (reverse is lower grade, IMO). I know that the Greysheet prices are just a 'guideline', but... sheesh. Am I *missing* something here? Why is this coin being bid up so high? Is it because all coin prices are going up * CDN (Greysheet) in AG3 is just $800; only $550 in PR2 - But I don't expect most people to bid that way... - They will just go with the grade on the plastic * It is a "2 Leaves" variety, which, correct me if I'm wrong, is one of the more common * BUT it is also Overton 104, T-24... I don't know how that affects bidding/price... * AND it is a "Low R.4"... - Not sure what "Low" means, but R.4 means rarity - Is THAT what is driving the price upwards...? * You don't see (please correct me if I'm wrong) many coins from this era in LOW grades that are also problem-free; that may put the coin into the price-range of people like me and therefore (ironically) induce a bidding war that drives the price OUT of my price range Or is it something else? Is there just (at least) one other person who wants the coin as badly as I do? I bid $900 (w/ BP) and was outbid... Please educate me. Thank you for your insights. <Dougmeister signing off>
Heritage does get strong bids. I tell you that from many personal experiences. There are not many "bargains" that are going to sell for less than wholesale, which is what the Grey Sheet is supposed to be, in a Heritage auction. Let's go through your questions. Actually the obverse of that coin really grades Good-4. That's the side that counts more, and a G-4 is on the Grey Sheet at $1,140. The reverse has uneven wear at 10 k. It grades something like AG-3.5. "Low R-4" means that the rarity is very close to R-3. That translates to about 200 pieces known. The most common Flowing Hair half dollar varieties rate an R-4, so this piece, among Flowing Hair Half Dollars, is "common." This coin is really pretty nice for a low grade Flowing Hair Half Dollar. I'd say it will sell for at least $1,100 to $1,200.
I told him the same thing but for different reasons. @Dougmeister is welcome to share them with you if he wishes. He can copy/paste my entire reply to him.
It's difficult to find a reasonably priced attractive and desirable low grade 18th century coin that doesn't have a details designation.
If you can find a problem free flowing hair half for under a grand anymore is worth buying. I’ve bought and sold a few under that. Usually 800-1000 but it was a few years ago
For posterity's sake, here are @GDJMSP's sagacious thoughts: "Well, the obv grades AG3, but the rev only grades Fair 2. And since a coin must be graded based on it worst side, the correct grade for this one has to be Fair 2 - one step down from AG3. In honesty though, in this day and age you'll probably never find one that is graded correctly. And that coin may be about as close as you will ever get." Once I got outbid @ $900, I told GDJMSP and he gave me this advice: "Well, first off, most people don't know how to grade so few are going to realize that the real grade of the coin is Fair 2. So they are going to accept that the grade is AG3 and bid based on that. Secondly, the auction itself states that the CDN price is $880 - see the blue highlighted text in the pic. And since most people still believe, (mistakenly but they still believe it), that CDN prices are the most accurate, and since CDN is dealer to dealer price, that means the retail price should be 10-20% higher than that. And that means the retail price is approx $970 to $1,050. And right now, to bid again, the bid would be $960 with BP (which is also shown in the pic). Which is pretty damn close to CDN plus 10%. That's why you got outbid. Since there are still 21 days left to go in this auction I would guess that the coin is going to sell for somewhere around $1,100 - $1,200 (and yeah BP is included in that). And if there are a couple bidders or more who really want it to fill a hole in their collection it could easily end up going for more than that. How much more depends on how badly one of them wants it. As it stands Doug the current bid of $930 is only 1 bid increment ahead of your last bid. That bid may even be your bid since you say you bid "$900 or so". It may stay there for a bit, it may even stay there until the last day. But once it goes live the price is gonna jump quickly since $1,100 - $1,200 is only 2, maybe 3, bid increments higher than where it is right now."
I would hate to show you what a Flowing Hair half dollar in FR-02 will look like these days. You will probably be able to see the date without too much imagination, but any other design details will be hit and miss. A Poor or Basal State 01 will be far worse. Dr. Sheldon, even in his conservative grading day, said that it might not have a readable date. The trouble is, you might have to pay VG money for it because there is an insane registry where collectors vey for the poorest known coins that have gotten a straight grade. I am too old fashioned to understand the logic in that.
Yeah, I'm well aware. But that's based on the way TPGs grade coins. And the way TPGs grade coins in today's world has gotten to be joke ! Me, I grade based on ANA standards, always have always will. Dougmeister, (and many others), is well aware of that, not sure if you were or not.
Sorry to differ with the host, but the coins in the ANA grading guide were pretty close to the TPG in this case.
I agree that the obv is, but the rev - definitely not ! One of the grading criteria for the rev says - lettering is weak but readable. And that is not the case as it definitely isn't all readable.
Baloney. It is simply a matter of your preference to have disdain for TPGs and 4PGs. A 5X held to the screen sets aside your "so there!" position. Not unusual, for you.
