I cant believe a coin can be so expensive with such ugly eye appeal

I feel while grade and scarcity matters so does the look of a coin and this sucker for $20,000 is just insane. I mean I could buy a car outright for that! The observe is so unappealing!
https://www.ebay.com/itm/1799-Draped-Bust-Silver-Dollar-certified-MS-61-by-NGC-UNCIRCULATED/333302163016?hash=item4d9a5b6648:g:dgUAAOSwUWlc~t7S

 

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Note that it hasn't sold yet.

 

The fields are surprisingly intact, nice strike, but very close to a details grade with the scratches on the portrait and little nicks (may be rusted die) on the reverse. They solved that by calling it a 61. Owning uncirculated 1700s US silver would be pretty fricken incredible, that said, especially a well struck dollar. Color is meh, but still.

 

The last MS61 (granted NGC) 1799 sold for ~13k on heritage in January so this seem just generally a bit high but they don’t come to market all that often so retail $20k may not be all that bad https://www.pcgs.com/coinfacts/coin/1799-1/6878

 

I'll pass.

 

Haha I've always wanted a 1700s US coin

 

BIG difference between a 1700's US coin and a BU 1700's US coin. I own quite a few dated in the 18th century, but none the grade of that coin. Very pretty.

I think those throwing stones don't really understand the series very well. That is an above average example with a couple of minor problems. "A price of a car" big deal when it comes to BU early American coins. My wish list coins are those of a price of a nice house.

 

This is one of those coins that an “investor” buys as a “nice coin” because the holder says it is a nice coin.

A grade of MS-61 for bust dollars tends to mean that it has been overdipped or is a technical AU-58 that was deemed to be too nice to be in an AU-58 slab. MS-61s are never BU.

is it pretty because it’s pretty, or is it pretty because the holder says that it is unaffordable?

I’m fairly familiar with all early US coins, some areas more so than others, and I still think this bust dollar is unattractive. I know enough to never want a bust dollar graded MS-60 to 62.

 

I don’t think it is that unattractive. Given its grade, scarcity, and the fact that the obverse issue is toning, it is not that much of an impediment. How often does one see immaculate 18th century coins in any grade? I think the toning issue could be resolved with a crack out, and professional dipping, or conservation.

 

I'll have to make my comment blindfolded as Hughes Internet has slowed me down to the point I can't even open links.

 

Your opinions sir. I also know early US fairly well, owning all of the types save for the small eagle halves and quarters, (not the gold though). I am not some newbie to US coins. I could care less about the slab, as most here know my position on them. I do know rarity, and how any early US in that condition is not a common piece. All of my bust dollars are VG-VF range.

I don't know this market really well right now, (my last US coin I purchased was about 20 years ago except for moderns for kids and APE proofs), but I thought the coin was fairly attractive for what it is, and know that $20,000, (or the price of a car), is not out of line for many early US coins in that level of preservation. Of course it has been cleaned at some point. Only great rarities have not been when it comes to very early US.

I guess I simply object to your characterization of my post as some ill-informed investor neophyte who doesn't know coins. I will compete with you head to head on most numismatic subjects sir. You may be more up to date on US, but I would have the advantage in almost all other series. Even US I might still remember more about SL halves than you.

 

That coin is one dip away from being completely destroyed.

 

Because it is rare, nicer than most, and expensive does not make it any more attractive.

And this is why is looks unattractive.

I’ve owned, sold, and examined in hand every coin type from AG to MS. Chain cents, 1796 quarters, bust dollars, you name it. I know attractive and unattractive coins when I see them, even accounting for type and condition.

 

Fair enough. I respect your opinion sir. I just thought your post characterized mine as amateurish. I would hope my posts in nearly every area here demonstrates that is not true.

I have no idea if that is a $20,000 coin, just that it is a rare and valuable piece thousand of US collectors wish they could own.

 

So you've seen literally every coin type from AG to MS now? Just lol at that claim

 

People can claim whatever they want, like the old saying says if it's on the internet it must be true.

That said it certainly is a very valuable coin no doubt, I would pass on it as eye appeal means more to me but no doubt the history of it will find a buyer at some price.

 

I like it. Sometimes I get tempted to pull the trigger and buy something like that. But not right now. I have my Trade Dollar type set to worry about first.

 

The reverse is super nice for the grade.

I don't think the pictures are good enough to make conclusions one way or another. However, I have to assume, given the experience level of that seller, if the coin were a candidate for a dipping it would have been done. I'm also guessing the optimistic price tag is in hope that somebody contacts the seller directly to negotiate rather than purchase thru ebay (fees). ...just saying.. 1dwinter is no spring chicken.

 

The first part of my post (before the quotes), was completely unrelated to your post. Sorry for the confusion

 

I agree. This is a lovely coin that just needs a little conservation.