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<p>[QUOTE="Vess1, post: 5301552, member: 13650"]Great run down by Paul there. I think that's exactly what the dealer was thinking. They're going to lean towards the safe side in their assessment. This is why high end stuff gets submitted to third party graders to be slabbed to take out the buyer vs seller subjectivity since people naturally have their best interest in mind when it comes to values. The slab pretty much takes that out of the equation as it authenticates it, protects it and provides a valuable grade opinion from no less than two professional graders, sometimes three, who are not buying the coin. They ARE human but these people grade coins for a living and are considered professionals and so the slabs are respected.</p><p><br /></p><p> As far as the the 1840 dollar goes, I suspected the gouge could be a planchet flaw too because you don't normally see damage that severe on a coin. It may be. Unfortunately, there are hair lines all over the coin on both sides and I believe it's been harshly cleaned. It may have been done in the 1800s or early 1900s. Who knows? Before you get too upset with the person from the past, people wanted coins shiny for a period in collecting history and cleaning coins was an acceptable practice in the hobby for decades. So many original surfaces were ruined and lost for all of time. Eventually that changed and now cleaned coins are not desirable, as people want original surfaces. Well, only a percentage got through time without being cleaned and stayed original. Now those are the most coveted examples. </p><p><br /></p><p> Without the planchet flaw, and the harsh cleaning, the grading company might give it a AU-55 grade. I'll just throw that out there. It would be somewhere close to that and it would get a regular label and be worth around $1800-$2k. </p><p><br /></p><p> If you send it in it will likely get a purple label, AU "Details" grade which at least authenticates (Chinese fakes have become a real problem) and it clearly has AU details. Then it will say planchet flaw (if they determine so) and harshly cleaned.</p><p><br /></p><p> The area at 2 o'clock on obverse concerns me too. It looks like a heavy rub from something on that. Anyway, with this grade, you will lose interest from many collectors but not all interest. Being what it is, it's still a valuable coin to type collectors. I stick by my original estimate that in said condition it's still worth 4 or $500 to a collector, ballpark. I'd expect at least $250 from a dealer for that coin since it was the first year and such a low mintage. <u><b>NGC has only graded 300 of them and PCGS has only graded 477 of them in ANY grade. </b></u> </p><p> If only 10% of them have been sent in to be graded than maybe there's 7k of them left in existence from the original 61,005 mintage. Could be far less than that. Most type set collectors wouldn't bother looking for that year as it would be too difficult to find a halfway decent example.</p><p><br /></p><p> EDIT: Btw, I just went back and read the first few pages of this. The notes are so cool!! That would make me want to keep it even more to be honest. They should help with grades a little bit if checking out a price guide yourself. Oh the time before internet and excel. We don't know how good we've got it today. </p><p><br /></p><p> The $5 Liberty gold looked really good. Gold coins could be cleaned but tended not to be cleaned as much since they didn't tarnish like silver. If that's anywhere from an AU-58 to a MS-63, it likely falls somewhere in there, that's a 5 to $600 coin. If you only get gold melt value for it, it's $450. The numismatic value is more than 450 though. Good candidate to send in to be graded.[/QUOTE]</p><p><br /></p>
[QUOTE="Vess1, post: 5301552, member: 13650"]Great run down by Paul there. I think that's exactly what the dealer was thinking. They're going to lean towards the safe side in their assessment. This is why high end stuff gets submitted to third party graders to be slabbed to take out the buyer vs seller subjectivity since people naturally have their best interest in mind when it comes to values. The slab pretty much takes that out of the equation as it authenticates it, protects it and provides a valuable grade opinion from no less than two professional graders, sometimes three, who are not buying the coin. They ARE human but these people grade coins for a living and are considered professionals and so the slabs are respected. As far as the the 1840 dollar goes, I suspected the gouge could be a planchet flaw too because you don't normally see damage that severe on a coin. It may be. Unfortunately, there are hair lines all over the coin on both sides and I believe it's been harshly cleaned. It may have been done in the 1800s or early 1900s. Who knows? Before you get too upset with the person from the past, people wanted coins shiny for a period in collecting history and cleaning coins was an acceptable practice in the hobby for decades. So many original surfaces were ruined and lost for all of time. Eventually that changed and now cleaned coins are not desirable, as people want original surfaces. Well, only a percentage got through time without being cleaned and stayed original. Now those are the most coveted examples. Without the planchet flaw, and the harsh cleaning, the grading company might give it a AU-55 grade. I'll just throw that out there. It would be somewhere close to that and it would get a regular label and be worth around $1800-$2k. If you send it in it will likely get a purple label, AU "Details" grade which at least authenticates (Chinese fakes have become a real problem) and it clearly has AU details. Then it will say planchet flaw (if they determine so) and harshly cleaned. The area at 2 o'clock on obverse concerns me too. It looks like a heavy rub from something on that. Anyway, with this grade, you will lose interest from many collectors but not all interest. Being what it is, it's still a valuable coin to type collectors. I stick by my original estimate that in said condition it's still worth 4 or $500 to a collector, ballpark. I'd expect at least $250 from a dealer for that coin since it was the first year and such a low mintage. [U][B]NGC has only graded 300 of them and PCGS has only graded 477 of them in ANY grade. [/B][/U] If only 10% of them have been sent in to be graded than maybe there's 7k of them left in existence from the original 61,005 mintage. Could be far less than that. Most type set collectors wouldn't bother looking for that year as it would be too difficult to find a halfway decent example. EDIT: Btw, I just went back and read the first few pages of this. The notes are so cool!! That would make me want to keep it even more to be honest. They should help with grades a little bit if checking out a price guide yourself. Oh the time before internet and excel. We don't know how good we've got it today. The $5 Liberty gold looked really good. Gold coins could be cleaned but tended not to be cleaned as much since they didn't tarnish like silver. If that's anywhere from an AU-58 to a MS-63, it likely falls somewhere in there, that's a 5 to $600 coin. If you only get gold melt value for it, it's $450. The numismatic value is more than 450 though. Good candidate to send in to be graded.[/QUOTE]
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