New purchase - finest known example of a rare Overton variety

I saw this piece at the Summer FUN show and really liked it. The trouble is the price was really high, in part because it's the finest known example of a rare Overton half dollar variety. The trouble is the coin is a bear to photograph. None of the photos I've taken so far make the coin look as good as it does in person. Here are the angle shots.



This coin currently resides in a PCGS AU-58 holder. When it was last sold at auction, it was in an NGC MS-62 holder. The buyer or subsequent owner cracked it out and lost the bet.

Here are the Heritage photos from when it was last sold as an MS-62.



Now for the rarity part. This is an Overton 120, Tompkins 1795 T-4. It is rated as an R-6+ with 16 to 17 known. There could be a couple more.

This AU-58 is the finest known for the variety by a wide margin. The #2 coin is in an EF, cleaned holder. The next three coins are tied at VF-30.

If this were a large cent with that rarity, there is no way that I could have afforded it. Half dollar die varieties are far less popular. And I have to admit it. I will never be a collector who collecting half dollar die varieties. So some might think that the piece is "wasted" on me.

And why is this coin so rare? The obverse die failed soon after it was put into service. There was a die crack through the "7" in the date that grew progressively larger. You can see it forming on this piece.

 

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Nice John very pretty...

 

Impressive!

 

I need to sell a few hundred gallons more of my blood to afford that one. Nice coin!

 

Top dollar for a top shelf rarity, you did well JM!

 

Beautiful example!

 

Great coin.

 

Gorgeous! A coin like that is wasted on no one. Sounds like you are happy and that is all that counts.

 

SWEET!!

 

Lol.

 

A 62 - 58 is a big loss from a money stand point, time to send it back and get reholdered I would think ?

 

AU-58 is the right grade. Unless the TPGs lower standards again, the chances of it going back into the Mint State holder are nil.

The marketing point with this coin is that it is the best known example of a rare variety. The target customer will be a top end die variety collector or an investor who sees its status as a reason to speculate with it. There are also type collectors, like me, who appreciate the coin’s eye appeal. In some ways, this coin is more attractive than some of the Mint State pieces which really are Mint State.

 

agree on all points.

When I was heavy on Barbers I collected AU-58's and down to AU-50's.

They were commonly nicer that MS-61, 62 and sometimes 63.

 

Very nice even before you consider the variety. Looks like it didn't sell for solid 62 money in the Heritage sale back in 2015, but that was a heck of a gamble to take if it was cracked out.

 

What a great addition to your collection. It’s a very nice looking coin.

 

like in currency and more so, A/U grades
will always be more attractive then
Gem notes through 65, 64.s do not
have the centering issues though.

 

Fantastic looking coin! Congrats on your purchase.

 

That’s a beauty. I agree 58 the right grade.there’s too much high point luster breaks to be any ms grade but little actual wear. It’s a 58 and nice. Great pickup