My First Bust Half

I just bought my first Bust Half and wanted opinions as to the grade. The story is (and I have yet to look into this) that this came from a hoard discovered near Mohawk, NY. There is a nasty mark on the obverse, claimed to have been inflicted on every coin in the hoard by it's owner. Aside from that mark (and the related one on the reverse) what grade would you attribute? (I do also see some corrosion on the reverse as well) Thanks!

 

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First, Awesome Coin!
Second, did you look closely at the 7 on the date. There is a variety that is a 1827over 6. Can I have a close-up of that 6? Kinda looks like it has the markings.
Jessie

 

AS far as the grade, I would say-between XF and AU. Not sure how much the mark on the Obv. effects the grade. I would say worth around 350-400 dollars. That is just my opinion.:thumb:

 

As soon as it arrives I'll take my own pics, these are from the auction. I can't wait to have it in hand.

 

Unfortunately, based on those pics, I am rather negative about this coin. Auction companies can fabricate a story about a hoard and many buyers will buy it hook line and sinker - that doesn't mean its special or more desirable or worth a premium at all. It just gives them a reason and method to justify an ugly coin with ugly and distracting marks. The spotty and irregular toning is unattractive. And the corrosion you point out pretty much means that, unless this is an R4 variety or higher, it has little collector value.

Technically, this appears to be an EF coin. With better pictures we might find that it has the requisite luster for a higher technical grade - but unfortunately the digs are going to limit it to a Net VF either way. I guarantee it will bodybag at any reputable TPG.

I'm not pointing all this out to be mean, just giving you honest critiques to guide future purchases. Honestly, if its possible, I would try and return that one and buy one graded by NGC or PCGS. At least for the first couple of purchases you make in a series, you should focus on slabbed coins until you learn enough about the series to make educated opinions. This goes for any series, but especially for a complicated one such as CBH's. Advanced collectors generally prefer these raw - but these numismatists have devoted an enormous amount of time to studying and learning the series. A beginner should rely on their experience.

 

I have to agree with physics-fan. Not to be mean, but the story sounds a little odd and the coin looks like a metal detector find. The corrosion would place the value of this coin at no more than $85.00 or so.

 

Well, a quick review of the auction page tells the whole story. I have no idea whether this info is true or not, but here's what the seller states:

1827 BUST HALF UPSTATE NY CACHE NO RESERVE. THIS COIN IS PART OF THE 2ND. GREATEST RECOVERY OF BUST HALFS & QUARTERS IN THE UNITED STATES.RECOVERED ALONG THE MOHAWK RIVER NEAR AN OLD FORT SITE. STORIES HAVE BEEN WRITTEN ABOUT THIS CACHE IN COIN WORLD & TREASURE MAGAZINES. THIS IS A 0.126 VARIETY NOTE THE DIE BREAK THROUGH LOWER CURL ON OBVERSE WITH A RARITY OF R-2.THE PUNCH MARK HALLMARK ON THE EDGE OF CAP ON OBVERSE IS ONE OF 3 SIGNATURE MARKS OF THIS CACHE. IT’S THOUGHT TO BE THE MARK OF THE OWNERS THAT BURIED THE COINS.THE COIN GRADES VF+. THE COINS HAVE BEEN ATTRIBUTED BY A MEMBER OF THE BUST HALF NUT CLUB. A LETTER OF PROVENANCE, MAP SHOWING THE RECOVERY AREA & THE UPSTATE NY CACHE DVD WHICH DOCUMENTS THE RECOVERY OF THE 18TH. CACHE.

 

I don't think your very helpful insight into this coin (and it's seller) is mean at all! I appreciate your experience and thank you for all for your comments.

This guy had a slew of early halves up, all containing a similar mark on the obverse, a couple of them are just beautiful apart from the purposefully inflicted flaw. Maybe it was a hasty buy, when I have it in hand I will take better photos and repost here. That corrosion bothers me more than the mark, because if the story is true it does give a little character to the coin. I still have to try and authenticate the story, but of course even if it is true, who knows for sure that this coin came from the hoard in question.

Jloring that is the paragraph listed in the auction, I am going now to check out his sources and see what I can find.

Thanks everyone, you guys gave me even more than I asked for!

Jim

 

Apparently NCS has slabbed a bunch of these (bagged as genuine only because of the marks) ...


http://www.ncscoin.com/news/enews/ncs_enews_0506june.htm#a2

and the story...

http://www.keshequacoins.com/CWReprint5-02-05.pdf

 

Interesting, and the NCS writeup lends it some credibility. I still wouldn't buy the coin, though. Maybe as a curio for historic value, but I would only pay a strongly discounted price for it.

 

I just found those links. So far I have not found other pictures, but am working on it.

 

I wonder why these were not in the NCS holders. Interesting story - but not really enough details for me. Still nice and I would say XF details.

 

some of these are just amazing if u can get past the marks ...

http://shop.ebay.com/metal1/m.html?_nkw=&_armrs=1&_from=&_ipg=&_trksid=p4340

 

Congratulations on your first bustie, just 99 more and you can join the bust half nuts, too bad about the mark, sort of reminds me of a chop mark, maybe you can get putty pete to smooth it out for you, JK, I would say vf to ef, and would guess the price at being anywhere from 55-75, who knows maybe the marked ones will command a premium sometime, I think that some collectors like to amass specimens from famous hordes, shipwrecks and collections.

 

I still think it is a 1827 over 6 though. You can make out the 6 under the 7.

 

Gorgeous coin but what's that hole on the Obverse for?

 

It isn't a hole, it's a gauge mark made by the person who buried the hoard to mark each one of the coins, over 500 of them which were buried in New York State.

 

I tend to agree with the attribution O-126, though I can't say for sure. If so, that precludes the 1827/6 overdate which is O-101, 102, and 103 only.

I grade it VF35 details, corrosion + damage, net 20.

 

Ok I understand now, Thanks for that!

 

I am not familiar with these attributions. Are they just a system used for halves from this period?