How would you grade this dollar?

AU50 very nice!

 

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I am going to go with XF45 and would not consider it damaged. I agree - "what a coin".

 

OK - The coin graded AU 58 by NGC and sold for a shade less than $490,000 dollars

The link is here

http://coins.ha.com/common/view_item.php?Sale_No=1104&Lot_No=2000&src=pr


Now what is interesting is that the auctions for these high end coins have a great deal of information about the coins and the history of minting in the US.

Also Heritage tells us

They make more minting information available when you look over the auction histories for other 1794 Dollars

And in another auction it tells us this:

and in anothe rauction we get this further important information about the coinage minting:

I invite you to read the abstracts from these auctions and you start to get insight as to why old time coin dealers hold on to and collect their auction catalogs so dearly. They are often the most important learning tool they have and their faith in different auction houses has a great deal with the quality of these descriptions and research.

For all the 1794 Dollars from Heritage you can find the listing here.

http://coins.ha.com/common/auction/lot_history.php?PCGSNo=6851&col=Grade&ord=DESC

Enjoy

Ruben

PS - Note to mods - all this should have no trouble falling into fair use under section 102 of the copyright code. Any problems with it, please don't delete it. PM me and I'll edit it down.

Ruben

 

Very interesting thread, Ruben, and some good history. I too enjoy reading the blurbs on the high-end coins at the auction houses, there is a lot of knowledge to be gained there. AU-58, huh? I couldn't bring myself to go past 55.

 

What is interesting is that it seems the write up says that previously it was sold and graded as a EF45 - such as we might expect from the ANA guild. So the question is, have we learned more about these coins or has something else changed?

Ruben

 

Also - when reading through them, look at the pedigrees. These coins have been tracked for almost 200 years.

 

ok I am a total noob, not afraid to say it.

I would say its not very fine, if anything, it has too much wear and a definite high impact to the left of the converse (reverse side) lots of wear on the lettering though the obverse (front) shows minimal wear but definate flatness to the highest points. fine to ,aybe very fine at the best defiantly not AU anything . (definatly meaning, I wouldnt as a total noob consider this a coin that may or may not have ever seen circulation) but heck thats my guess...........

 

The theory is that there is almost no wear on the coin and it was simply struck that way with a press driven by animals or people. And the press itself was designed for smaller coins. Take a read through the Auction write ups and you'll find out more information on that.

Ruben

 

i suppose we wont find them in the local flea market then

 

Thanks for some terrific info Ruben. My education continues.....

 

AU details, cleaned, net XF 45

 

Great lesson for the day Ruben, thank you!

 

Which says much about the Red Book !

I don't have my ANA Grading Standards handy, but that is The Book. I suppose this one is XF40.

One may ask : Why is there so much detail in the bust / eagle, but such weak legends ? That can't be normal wear.

My guess is the legends are weak due die lapping; the shallow spots are the first to go. If not that, maybe die buckling.

 

$490,000, huh ? I couldn't bring myself to go past $480,000. d'oh

And I should have read past the thread's first page before replying ! :whistle:

 

I think $488,000 would have bought it a while back.

 

I'm glad they didn't ask me to appraise it.

 

Smart man except for the final grade

Ruben

 

I'm trying to dig up some material on the presses that created these coins, but instead came up with this interesting tibit

http://www.nytimes.com/2004/03/15/us/1794-silver-dollar-may-be-first-minted.html

 

also
http://www.coinresource.com/guide/exhibit/ANR_Dollar.htm

 

:headbang:I shoulda jumped on it when I had the chance. :headbang: I'm kickin' myself !!! :headbang: