newest acquisition - chain

Yes. The AMERI. is a type which is collected by more people than the Sheldon variety which is rarer. (in this case I use rare in the narrower Sheldon sense which means less than 200 known). This makes the S-1 ans S-2 RARE while the S-3 and S-4 are considered Scarce.

 

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It would be interesting to review the Heritage archives to assess the rate of appearance of S-1,S-2, S-3 and S-4, and to confirm/verify CQR's estimate. I know that Heritage archives is only part of the picture, but it is probably as accurate a list as exists anywhere?

I checked Bowers & Merena's archives and I found a whole bunch of S-3 and S-4's (as expected), one or 2 S-12, and only one S-2

 

From the look of the pictures posted, it looks problem free which is very unusual. Most, even in higher grades usually have some problem on either the obverse or reverse if not both. I wonder what EAC graded it compared to other TPGs?

 

I guess further explanation is in order. I was thinking of rank out of the ~100 known putting my guess around upper third to your middle.

In any event, I join with others here on looking forward to seeing your photos,

 

congrats on the great find

 

A super cool coin, and certainly with much more meat than my FR-02. Congrats!!!

 

p.s. looking forward to larger photos!

 

I checked Heritage and there were 46 total hits for the S-2 with some hits by error and other duplications. About 2/3rds had pictures and a significant number had post mint damage.

 

Grellman/McCawley graded it EAC VG-8. My guess is that it would be a F-12 by current TPG standards.

 

Wow niiiice. I don't know what it is, but coins in any grade from the 1700s always impress me.

 

I'd say F-15 minimum for an EAC-8. I recently saw an EAC-20 graded XF-45 by a TPG. Very different standards, both useful for different purposes, but should never be confused when determining value.

By the way, If I traded you my entire collection for your S-2, I'd make out like a bandit.

 

I gotta say guys, I thought VG-8 was very generous. However, I'd like to see better pics....

 

p.s. the delta between EAC and TPG grades gets much smaller when dealing with lower-end coins. While you'll see a EAC 20 graded as a 40 at the TPGs, you'll very rarely see a 10 turn into a 30.

 

But a 10 to a 20 would not be unusual.

 

here are better photos (but I still need a better camera). The obverse picture doesn't do it justice. I need to figure out how to do the lighting properly. The date is actually quite visible.
As far as the grade, to quote Chris McCawley http://www.earlycents.com/ (and possibly Bob Grellman), it is a solid EAC-8 (sharpness of a 10, but a couple of points deducted for an old cleaning and a couple of rim bruises.

 

I disagree strongly with the above. Both the EAC and TPG grading do a very good job at predicting value -- they just do it differently.

Respectfully...Mike

 

Again, I disagree. Certainly it would be more unusual than a 30 to a 40, but I don't think you'll see many EAC net-VG-10s grade TPG VF-20. Once you get down into F or so, EAC and TPG grades are generally a point or two off (i.e. a 10 will turn into a 12 or 15) and frequently the same. Once you get into VF coins, the divergence increases.

Respectfully...Mike

 

Outstanding and RARE coin. How about giving us some history on it?

Ruben

 

It was lot 83 in the EAC 2005 auction. I don't know its history before then, but have asked Chris McCawley what he knows about the coin.


Leadfoot
Originally Posted by Marshall
Very different standards, both useful for different purposes, but should never be confused when determining value.
I disagree strongly with the above. Both the EAC and TPG grading do a very good job at predicting value -- they just do it differently.

Respectfully...Mike

As far as relative grading between EAC and TPG graders, I and another EACer are collecting relative grading for large and half cents and hope to publish the results in the near future.
What we have found is that there is a significant disagreement in the middle grades with typical TPG being more than 10 points higher when the EAC grade ranges from 25 to 45. The gap narrows at higher (and lower) grades. It is my belief that, unlike TPGers, EAC grades have not inflated over the years. In only 1 of 250+ comparisons have I found a TPG grade lower than an EAC grade.

 

Your findings agree with my impressions. However, I would suggest that it diverges again once you get to mint state.