High expectations...

Here is a really nice 1846 RB Large Cent on Heritage with a huge reserve of $3,335 (incl. BP)—which is almost $1K over Numismedia retail: http://coins.ha.com/common/view_item.php?Sale_No=210103&Lot_No=24407&Lot_Id_No=8004

Yet it sold just two months ago for $1,955: http://coins.ha.com/common/view_item.php?Sale_No=1143&Lot_No=3854

Does the consigner really believe someone is going to bid $1,400 over his fair-market bid of two months ago? Hmm...

 

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Yes, I do suppose someone does believe it. Don't think that it will happen, though.

That said, it does look like a nice coin, and good for the 65 grade (not that common that I agree with a NGC graded large cent, either), and 1846 large cents with red don't grow on trees.

Time will tell.

 

I think the answer is yes. Of the entirety of survivors, this is probably the finest of the lot. This is a superior gem , worthy of commanding a heavy premium . When this coin was last at auction, it seems this owner was the only one who recognized the importance and true value of this Gem. Now they are going to attempt to prove it. Thanks for bringing this into discussion. I'll be WATCHING the bidding.

 

Both of you probably know a lot more about large cents than I do; I like them for type. I agree it's strong for the grade and overall a great coin. Wish I hadn't missed it in August's auction (although I had other fish to fry and spent more than I should have) and would love to have won it for $2K. But I wonder, if this coin is significant, why this seller isn't waiting for a Signature auction where it would get a written description and probably a lot more exposure.

 

I am contemplating that very question myself. The only thing I can surmise, is that there are some bidders lined up for this. I would think perhaps the January FUN in Orlando would have been a better venue.

 

I would be surprised if it can sell at that price..

 

Maybe some bidders already are (but there are no bids so far!). Since the coin looks solid for its grade (and I realize it's CAC'd), seller could also have tried to cross to PCGS to better his chances. Seems like another opportunity missed. The whole thing seems hasty.

 

Well , it's a wait and see now. Personally I would have re-listed it in a higher profile auction. Sometimes that works and other times the competition does you in.

 

Then you'll get a heck of a lot more for your money with a coin from the 1850s.

 

I doubt that....

There is a higher graded NGC RB example and a number of RD examples -- and let's not forget that there are lots of these coins that have never seen the inside of a slab...we are talking about copper after all. While I've not seen any of these coins in-hand, it's probably safe to say there are better coins than the one that is the subject of this thread.

Respectfully...Mike

 

I've been (very slowly) working on a type set, beginning with copper and nickel because I can afford them and it narrows the search, but I also try to buy better dates and, on occasion, more than one specimen per type. All this means, to be honest, is that I buy what I like! I've come to like copper quite a bit and missed a real beauty earlier this year, a coin I think you'll appreciate: http://coins.ha.com/common/view_item.php?Sale_No=1138&Lot_No=134&Lot_Id_No=155054

 

This is a marvelous coin. I do suspect it's darker than shown; however, since the holder appears a bit light in color. But Large Cents rarely have detail on every star like this one and an inner circle to boot.

 

+1

 

That's a nice coin. Quite a bit nicer than my example for the date:




Of course, I spent a fraction of the $3k that coin fetched at auction, which is out of the price range that I collect for my date set....Mike

 

p.s. it is not unusual at all for large cents from the 1820s to be fully struck. Earlier and later, not so much, but 1820's are generally well struck (with some notable exceptions).

 

That's a great coin; thanks for posting. Regarding your above comment, I've been looking at common date (1818 and 1820) Matron Head cents online and have not come across one that doesn't have the telltale "Randall hoard" look: weak stars and the complete die crack circling the obverse. Do all Randall hoard cents come from these same dies? Truthfully, I've not seen as nice a strike as on the '26 I posted.

 

The Randall Hoard coins are from a few sets of dies, and many of them have the look of the 1818 and 1820 (the common ones you refer to). By way of example, here's my 1820:




It's look is very typical for the Randall Hoard in terms of strike and surfaces/color/spottiness. You can find them a bit better struck, but I think you'll have a hard time finding one as nice as the 26. That year, and the 27 (for some reason) seem to be well struck -- but they are not common or cheap like the RH coins and that presents a conundrum.

That said, coins like that 1826 should raise your eyebrows. IMO, it's been recolored -- as copper, mint state brown copper in particular, doesn't tone evenly like that, but I could show you how to tone a fully red 1983 Lincoln that color in 5 minutes.

Back to your question.... That 1826 is a very, very well struck coin, but I think you should be able to find a better one for the reasons outlined above, but quite frankly I think you're a bit too hung up on strike (as many type collectors are).

To wit, I think you will find that collectors of these coins (EAC guys) will value original and attractive coins much higher than an unoriginal and recolored yet strongly struck one. That said, you should collect what YOU want, and not what I want, or what the market wants!

Take care...Mike

p.s. be VERY careful with mint state graded NGC copper.

 

By way of example, here's my '27, another year you can find with a very strong strike (you can find them stronger than this, yet):

 

Looks like one the penny lady posted some time ago..

 

I really appreciate your comments and the pics; nice coins (I love the toning of the '20 reverse). You're right, the bane of type collectors is that we're after ideal representations. I confess I'm a fool for strike and otherwise have very specific things I do and don't like about eye appeal. I can only wait and see how my tastes might evolve. It had crossed my mind whether that '26 had been re-colored, it's so even.

BTW, I buy very few coins per year. I've come to like better grades and try to buy better coins, all on a very limited budget. I have Gobrecht taste on an Eisenhower budget!

I'll heed your advice about NGC copper, thanks.