Thoughts on this Flowing Hair Dollar (holed)?

Discussion in 'US Coins Forum' started by Dougmeister, Sep 25, 2021.

  1. Dougmeister

    Dougmeister Well-Known Member

    Purists will tell me to wait until I find a problem-free coin. I might never find a problem-free, low-grade one of these in my price range.

    Thoughts on this one...?

    1054220-1.jpg 1054220-2.jpg
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  3. potty dollar 1878

    potty dollar 1878 Well-Known Member

    If it feels like its the one go for it!!!.
  4. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Understand that the hole is not the only problem on this coin, it's just the first one listed. The surfaces have also been stripped, and polished. Yes, I'm a purist and would tell you to avoid this one - but it's your collection. I personally would rather have a problem free G than this VG, but that's my choice. On the plus side, it appears quite well struck, complete rims, and has strong detail for a VG. If it didn't have the problems, that would be a VG-10.

    In the end, if you can get this one for a significant discount, and if you don't mind the problems, then go for it.
    Dougmeister likes this.
  5. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I love the history in our coins. Holding a 200 year old coin for me tells a story much like reading a good book. Now I do enjoy problem free coins too, but to own a piece like yours, I wouldn’t pay the price for a problem free example. I bought an old dollar like yours with an “X” cut into the eagle. Without the graffiti, I wouldn’t have let myself pay the price for an unblemished version. I see yours much the same. I love it and would have bought that myself.
  6. Dougmeister

    Dougmeister Well-Known Member

    I just wish that problem-free specimens could be found more readily in lower grades... and the recent up-tick in prices isn't helping any either...
    Randy Abercrombie likes this.
  7. l.cutler

    l.cutler Member

    I love it. I was told the same thing when I got my Fair details chain cent with graffiti. If I waited I'd still be waiting, but I have a chain cent and never regretted it. Congratulations!
    Randy Abercrombie likes this.
  8. johnmilton

    johnmilton Well-Known Member

    It all depends on what your budget is, which you have not shared with us. As @physics-fan3.14 said the hole is only the worst problem. This piece was used for jewelry.

    According to the Greysheet, a Good-4 is worth $1,800. A VG only goes up to $2,000. It’s been my experience that an early coin that is graded “Good” is terrible.

    I think that this piece maxed out at $1,200 or so, I would not view it as a great buy. Coins like this don’t have a great future. The best thing it has going for it is that it is certified as genuine.
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    That hole will always be there, even if it was filled. Keep looking and save up your money to get what you really want. If the hole is acceptable to you, go for it.
  10. johnmilton

    johnmilton Well-Known Member

    If you have a larger budget some day, this coin will not be a good trade-in on a better one. Dealer really pound you when try to sell or trade problem coins.
    Dougmeister likes this.
  11. micbraun

    micbraun coindiccted

    Sorry, but I wouldn’t buy it. I’d rather get a nice VF/XF CAC’ed draped bust half dollar instead.
    Dougmeister likes this.
  12. Dougmeister

    Dougmeister Well-Known Member

    Yeah, @micbraun but it's for a type set and I already have the draped bust.

    @johnmilton, from what I see, Greysheet prices are out the window. I'd be ecstatic if I could find a problem-free 1795 FHD in VG for $2k. They're just not out there at that price. More like $2500-$3k,unless I looking in the wrong places.

    Budget *was* $2k until I got tired of searching and filled another hole in the type set.
  13. Publius2

    Publius2 Well-Known Member

    I'm in the same boat for my type set. Got both DB dollars and looking for a nice FH dollar in VF-20/25 but prices have really gone up in the last year. But I will not buy a severely damaged coin to fill the hole. I might eventually buy a details coin that has a mildish cleaning or some other mild details issues, but a hole or other severe damage? Never, not for a coin that is not particularly rare and where the collector base is less tolerant of damage.

    The chain cent is really different than the FH dollar from both the rarity, collector standards, and resale basis. Therefore, collectors are more tolerant of problems since the early copper suffers more environmental issues than the early silver. I would be much more tolerant of a details Chain Cent than a details FH dollar. And there probably is not one collector out of a hundred (don't argue with me about the numbers, I'm just making a point) who would turn up his nose at a decent, detailed 1793 Liberty Cap Large Cent.

    All that said, it is ever and always your collection and you should do what makes you happy. But if part of what makes you happy is the marketability and price of your collection upon resale, then you should avoid details coins. And if part of your happiness relies upon the admiration of other collectors, you will not be happy since hardly anyone is likely to admire your holed coin.
  14. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    I like that one more than either of the two you posted here.
  15. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Now, it may surprise some to hear this coming from me, given that I've been an enthusiastic collector of "holey" coins off and on for a couple of decades.

    I'm not sure I'd go for a holed piece like that, for my "mainstream" collection.

    For my holey collection, sure- that coin would be the crown jewel in that.

    But for a more mainstream collection, I'd rather see an undamaged G4 or so. But I don't know how the price comparisons work out, offhand.

    I will say this one does have a lot of "meat" for a cleaned and holed piece, and so if you find you can live with the hole, hey- why not? Go for it.

    But as has been mentioned, you might have difficulty selling it later because of that. People typically don't like holes, unless they're eccentric types who are deliberately collecting holed coins, like I have been known to do.
  16. johnmilton

    johnmilton Well-Known Member

    When I was building my early U.S. type set, I used to buy two coins a year, and they were never problem pieces. Yes, prices were lower, but so were salaries and wages. I saved a few hundred dollars a month and very few other coins, and they were cheap ones.
  17. ldhair

    ldhair Clean Supporter

    Plan to take a loss if you buy a coin like this. Easy to buy but tough to sell.
  18. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Paradoxically, when I sold my old "holey" collection in 2013, I did pretty well. Mind you, there wasn't any Flowing Hair stuff in there, but there were some nice pieces, some of which still had decent values despite the holes.

    But yeah, unless you can buy it on the cheap, holed stuff is gonna be a hole you throw your money into and are unlikely to get it back.

    I have collected holed coins purely for the joy of casual collecting, and not with any kind of investment in mind. If you're that way, then why not- you can get a coin with more details on it for less.

    But if the investment means anything, I would avoid "problem" coins in my mainstream collections.
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