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Making the Grade #43: The Great Grade-Off; A Groundbreaking New Coin Book; Plus New Purchases

4/14/2020

1 Comment

 
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It’s been a minute since my last e-newsletter. So much so that I’ve angered 3 of my 9 subscribers. And for that – I apologize.

So, to compensate y'all for this grievous injustice, you can either be dazzled by my pithy but insightful mini-articles below, or do what most folks do and scroll past them down to the new purchases.

The Great Florida Grade-Off
My wife is now really into those cooking challenge shows, with names like Meatball Brawl, or Cupcake Explosion, or the Great Cookie Cook Off. Er, - I think, anyway; I usually leave the room when she turns those shows on so I’m not sure of their exact titles.

So I had the idea for the title of this article to make the recent grading contest at the FUN show sound like one of those super-awesome shows. Sponsored by NGC, this contest seemed to have more contestants than ever.

There are separate groups for younger numismatists as well as more experienced folks. I came in 4th out of 103 graders this time around. Not bad, but I’m still gunning for that #1 spot. Maybe next time. Congrats to the winners.

I strongly encourage all to participate the next grading contest when they offer it. NGC did a brilliant job this time around – mixing in wildly toned coins (toned by mother nature, of course), world coins, altered coins, fakes, and exonumia. There was even a genuine coin worth tens of thousands of dollars in the group (I guess so contestants would think – that coin is so nice it MUST be fake!). Anyway, here is a link to NGC describing it:

https://www.ngccoin.com/news/article/8055/NGC-grading-contest/



The Book Plug: Bad Metal

Perhaps the toughest type of coin book to write is one where there is no precedence, no defined “edges” to the subject, and one in which there are innumerable “mints” – all of whom wish to remain secret. So it is with great admiration I announce that Winston Zack has written such a book.
The Full title of the book is: “Bad Metal, Copper & Nickel: Circulating Contemporary Counterfeit United States Coins.”

This 320 page book is the first of three planned volumes. This one covers all of the denominations from half cents through 5 cent nickels. It profiles both the counterfeiters themselves as well as the coins they secretly made. There are almost 200 full color photos illustrating nearly every known variety of handmade, die struck counterfeit made to circulate as money. Ironically, these counterfeits are much rarer than the genuine coins they were imitating, and often sell for quite a bit more.

Here is a link to learn more:
https://www.badmetalcoin.com/product-page/bad-metal-copper-and-nickel



Sing Along With The Sex Pistols

There is now a law that says every email you receive these days must mention Covid-19, so here's mine. You have probably heard the recommendation to sing “Happy Birthday” twice for the duration of washing of your hands, which is 20 seconds long.


I recently read that the first verse of the Sex Pistols’ God save the Queen is also 20 seconds long. So that’s what I started singing. Or I did until my wife said that I sounded absolutely terrible and that I should immediately stop.


Being unfavorably compared to the musical stylings of Mr. Johnny Rotten... I feel low.

Featured Coin

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1793 Chain Cent. AMERI Type. PCGS graded VF20.
Sheldon-1, rarity-4. Considered by most to be the very first regular issue one cent coin. Note that Doug Bird's PCGS AU50 specimen sold 2 months ago for $276,000 in PCGS AU50; that makes this VF-20 seem like a a bargain, at least in my eyes. Nice color, hard surfaces and accompanied by a PCGS TrueView image. $49,500.

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US Coins

1787 New Jersey Copper, with Undertype of an Extremely Rare CT Copper. PCGS graded Very Fine-25.
This New Jersey copper is the Maris 56-n variety – the popular (but not rare) Camel Head variety. However, the undertype is is of an extremely rare Connecticut copper – the Miller 33.28-Z.20, solidly in the Rarity-7 category. This is the rarest Connecticut undertype variety that I am aware of on a Camel Head New Jersey copper. To borrow from an old Certs Breath Mints commercial – “Its. two... two … two coins in one!”. The undertype attribution is guaranteed of course, and the coin comes with PCGS TrueView image so you can blow up the image to the size of New Jersey if you wish. $1950.

1795 Draped Bust $1 PCGS graded AU53.
B-15. Just a gorgeous example of this important type coin. Significant cartwheel luster under a ring of green-blue-gold peripheral toning. $19,750.

1840 No Drapery Seated Dime. PCGS graded AU58.
A lovely example of a 3 year type coin.  I sent this coin in myself and was honestly surprised when it did not grade mint state.  Judge for yourself.  $595.

1863 Indian Cent.  PCGS graded MS63 CAC.
A nice original coin, but what I love about this coin is the big ol' cud on the reverse at 9 o'clock. $495.

1879 Indian Cent. PCGS graded Proof-65 Red & Brown.
A stunning example of what specialists call a "greenie".  A proof Indian cent that has toned a vibrant green is a rare find, and avidly collected.  $1250.

1883 Indian Cent.  PCGS graded Proof-65 Brown CAC.
This Indian cent proof also shows that magic green color, albeit to a lesser extent.  $895.

1890-CC $20 Gold. PCGS AU58.
Pleasing appearance and close to full mint state.  $4975.

1900 Barber Half Dollar. PCGS graded MS64.
Pure white save for a ring of peripheral toning on both sides.  You will love this coin. $1050.

1923-S Monroe Commemorative. PCGS graded MS60, Gold CAC.
2 Piece PCGS holder. Pretty Coin. $195.

​1940 Walking Liberty Half Dollar. PCGS graded MS64 CAC.
Gorgeously toned. $295.
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1941 to 1947-D Walking Liberty Half Dollar Short Set. All graded PCGS MS64.
A neat 20 coin set, some on old holders as you can see. All are white or very lightly toned. A good value in today's market. $1595.

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World Coins, Exonumia, Flotsam & Jetsam

1547 Polish/Lithuanian ½ Grosz. NGC Graded MS65.
A blazing white, 100% full gem. Gem uncirculated coins in the 1500's nearly do not exist. $975.

1549 Polish/Lithuanian ½ Grosz. PCGS Graded MS65.
A blazing white, 100% full gem. Comes with PCGS TrueView Images. $1475.

1704 Louis d’or Contemporary counterfeit Gold Coin. Louis the 14th. Uncirculated [uncertified].
Struck on a cut down genuine Louis d'Or cold coin, and still retaining its mint flash . Considerable undertype is visible.  Coins like this undoubtedly circulated in the Americas in colonial times. $675.

1714-Mo J Philip V gold Cob 8 Escudos Gold Coin. NGC graded XF45.
From the famed 1715 Plate Fleet shipwreck. Mexico City mint. An outstanding, centrally-struck Mint State cob with impressive legends and central designs. Bright yellow-gold and almost never encountered at such a reasonable price. $8750.

(1774) Skull & Butterfly Medal. Silver. Almost Undirculated Details [uncertified]. 
40mm diameter. The obverse of this large and impressive medal has a portrait of Moses Mendelssohn. The reverse sports a really cool skull with a butterfly fluttering its wings and the writing: "Phaedon" and "Natus MDCCXXIX" [born, 1729]. Mendelssohn was considered a founder of the Jewish Enlightenment movement and is an ancestor of the composer Felix Mendelssohn. Quite rare, with only a very few specimens traced. This one has AU details with some subtle smoothing in the field. $1150.

Undated Bar Copper. Unlisted Struck Copy. Copper. Extremely Fine [uncertified].
114.8 grains. Approximately 25.5 mm x 27 mm. Struck on a slightly ovoid planchet, both sides are sharply defined overall. with a touch of softness at the left reverse border. Ex. Eric Newman estate (privately); Baldwin, August 1958. Envelope included. $975.

1857 Basilica of St. Peter's in Rome. Silver Plated Bronze. Uncirculated [uncertified].
This medal was engraved by Jacques Wiener. It was silver plated at the time of striking. I have also seen this medal in solid silver. Construction started in 1506 and was completed 109 short years later; I believe they used the same crew that has been working on a stretch of I-95 in Connecticut since I was a child. . Interestingly, it is the largest house of worship in Christendom. $995.

(1860-7) Japan Gold Koban. PCGS graded AU55.
JNDA 09-23 Man'en 万 延 variety. 3.30 grams. Gorgeous green-copper-gold in color. Most of these are found damaged or repaired, most likely due to their somewhat delicate nature. I'd be willing to bet most serious coin collectors do not have even one Koban in their collection. Here is your chance – and it is a real looker too. This is the second time I've offered this very specimen over the years. PCGS #392755. $1250.

1924-S over S over S Standing Liberty Quarter Contemporary Counterfeit. Very Fine [uncertified].
This was actually described as a genuine variety in the first edition of J.H. Cline’s book on Standing Liberty Quarters, though it was removed without explanation from later editions. It is a well made coin for the period, though with crude details under close examination. I am told that Dr. Michael Fey wrote an article on this counterfeit in 2008, but I was unable to locate it. $495.

1776-1976 Libertas Americana Silver Medal. PCGS graded MS64.
1976 Libertas Americana Medal. Modern Paris Mint Dies. Silver. 78 mm. Both sides exhibit matte-like pearl gray surfaces and a bold strike throughout.This is a modern striking that uses the design of the classic Libertas Americana medal (the original medal was ranked #1 in the 2007 reference “100 Greatest American Medals and Tokens” by Katherine Jaeger and Q. David Bowers). $1250.
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"1781" (2014) Libertas Americana Medal, Paris Mint Restrike. Silver, 5 oz. NGC graded Proof-69 Ultra Cameo.
A large, impressive, heavy silver medal made in the same mint that made them back in 1783.Dealers usually want a lot of money for these popular medals, but every once in a while I am able to buy one at a reasonable price, and when I do I pass it along to you. The last one I offered garnered several orders. $595.



Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping. 
And unlike auction purchases, everything comes with a 7-day return privilege.
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What Will the Coin Market Be Like 10 Years From Now?

5/19/2019

1 Comment

 
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Time for my annual “Coin Hobby Trends for the Next 10 years” article. OK -- so I’ve never done one of these before. Well, here goes the First Annual Edition...
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It seems to me that right now the coin market is at an inflection point. So much so that predicting we are in for “more of the same” over the next 10 years would likely be well wide of the mark. So let me dust off the ol' crystal ball and get down to predict-er-ing.


The flood of information available to collectors means a more educated collector
The most frequent complaint I hear from my fellow coin dealers these days is – “Everybody now knows exactly what I paid for my coins.”
You see, not too long ago it was difficult to find prices realized for coins sold at auction. You could do it, but it required a good, up-to-date library and some time. Then Heritage came along and provided that info instantly.
But that was only true of the coins auctioned at Heritage. If a coin was purchased at any one of the other auction companies, it was still difficult to find.
Next PCGS came along with their CoinFacts.com website. It provided information on some other auction company prices realized, later all of them, and later still a smattering of eBay auction prices realized too.
PCGS used to charge a monthly fee for this info, and it was well worth it. But then they went a step further and made it free to everyone. Now everyone has access to all that valuable info at absolutely no cost.
Let me tell you a little secret: coin dealers hate this. I mean HATE - HATE - Double HATE this. But – the smartest of them learned to adapt to this advancement and move on.

What might be bad news for dealers is very good news for collectors though. With a few keystrokes, anyone can now find when many of the coins being offered to you were sold at auction and how much they sold for. Also, you can easily find what coins in the same grades and in nearby grades have recently sold for. That information would have taken hours to compile 5 or 10 years ago, and that assumes one had access to all of the different auction catalogs and their prices realized.
In the long run of course, an educated collector is the best asset a coin dealer could have. That is, if the dealer was running his or her business honestly and transparently to begin with. The dealers that cannot adapt to this new information-rich era will struggle and likely fall by the wayside. And that is the way it should be.


Sadly, the number of coin shops will continue to decline.
Quaint little coin shops, once ubiquitous in small town and rural America, will all but disappear. The shrinking population base of these areas, coupled with high commercial rents and a persistently weak economy, will make it impossible for most of these physical stores to survive.  Within the next 10 years, this process will be nearly complete.

Yes, there will still be some physical coin shops serving large metro areas, although far fewer than in years past. And thrift and secondhand stores will persist as well. But the bulk of coin transactions will take place on the internet via eBay, the auction company websites, collectors.com, dealer websites and so on.

Areas like Proof & Mint Sets, Modern Commems, etc will Continue to Soften
Promotion-driven areas like these, along with other promoted areas like generic gold type coins, will continue to soften from their already depressed levels. Too much supply chasing inadequate demand.


Some 20th Century Scarcities and Rarities will Continue to Impress
Certain items that have genuine scarcity or rarity (such as the recent sale of a 1964 Kennedy Half Dollar from an experimental Special Mint Set that just sold for $108,000) will no longer be seen as oddities when they sell for big bucks, as they will occur more frequently (though truth be told, I am still a little freaked out that a 1964 Kennedy Half dollar of any kind could sell for $108k).
There are many traps here too though.  Common coins in "super grades" (MS67 red common date Lincoln cents, for example) will continue to be slabbed, as the unslabbed supply of those coins are enormous. That will drive down the prices of coins where, for example, a PCGS MS67 Red graded coin sells for $4000 and an MS66 Red example sells for $50.  That's insane.


Coin Shows Will Shrink in Number and Become Wholesale Affairs

Many of the remaining major coin shows are being propped up by the auction companies, by holding their sales at those venues.
As a good customer (who travels to several national shows each year) explained to me at the recent EAC show in Ohio – “I’m going to travel to fewer shows from now on.  I plan my trips carefully and shop for the best travel deals, but it still costs me $2000 or so on average to attend a coin show – some more, some less.  I can buy a nice coin for $2000 sitting at home, and be ahead of the game.”

It is hard to argue with that logic.
The collectors who currently attend shows tend to skew older, white and male. But don’t despair, my friends. I spoke to a dealer who sells virtually all his coins on Facebook, his website and other internet outlets and attends maybe 3 shows per year.

He said the customer mix he sees at shows are very different from those in his business. He said the majority of his online customers are 18-45 years old, and about 30% are female. My own experience with my online sales has been similar.  People love collecting coins, if only they are exposed to them.


Gold and silver prices will continue to head upwards over time
Not in a straight line, of course.  There will be ups and downs, and some of the declines will last for many months at a stretch.  But inevitably the trend is upward.  This will benefit the coin market from this trend, both from the intrinsic precious metal value of many coins and also because there is great overlap between the coin collector mindset and that of hard asset buyers.


World Coins will see Increased Activity and Action  
The reason is twofold – other countries, especially rapidly developing ones, will see increases in wealth and demand for leisure time activities.  The other reason is a number of sophisticated US collectors are adding important world coins to their collections. 
US collectors have a bit of an advantage, having been early adopters of slabs. Dealers and collectors in other countries are currently having the “raw coins vs. slabbed coins” debate that we US collectors already had. Spoiler alert: slabbed coins will eventually win out, though not without a fight and plenty of hard feelings from the “raw coin crowd”.
As we have seen here in the USA, the winners were high grade coins that are rarely found in high grade.  And as we have seen that some coins in the US coin series (such as gem proof 3 cent nickels or common date gem barber dimes) are more available in top grade than previously thought once slabbing populations became known, and therefore have not fared as well price-wise.

In conclusion, if all of these 10 year predictions don't come to pass exactly as I have stated, I offer you double your money back on your subscription to this free e-newsletter.

Featured Coin
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1822 Bust Half Dollar. PCGS graded MS65 Plus.
​Overton-105, considered to be Rarity-3. Concentric Rings of green, gold and blue over booming luster. This is what bust half dreams are made of. High in the condition census for this variety. Note that Brent Pogue's PCGS MS66 of this variety sold for $88k back in 2015. PCGS #39590. $23,000

US Coins
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1776 Continental 'Dollar'. PCGS graded AU58.
CURENCY variety, Newman 1-C, rarity-3. The origins of these coins are enigmatic. The most recent theory Is that they were produced in England to sell to contemporary collectors to commemorate American independence. Surprisingly to some, that theory has had little effect on either the demand or the prices of these hotly desired, 1776-dated items. PCGS #791. $62,500.

1867 Shield Nickel. PCGS graded Proof-64 Cameo, CAC.
Deep mirrors and nice contrast. This coin is accompanied by PCGS TrueView images. Interestingly, the reverse die was rusted. PCGS #83821. $1150.

1936 Buffalo Nickel. PCGS graded MS62. 15% Off center.
Surprising and neat. PCGS #E3977. $750.

1893 Barber Dime. NGC graded MS66 Plus Star.
An insanely toned Barber dime. MS-66 with a plus and a star. Can get too many more bells and whistles on the NGC label, and justifiably so. PCGS #4800. $2950.

1812 Bust half Dollar. PCGS graded MS62.
Light silvery gray toning and completely original. PCGS #6100. $2600.
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1828 Bust Half Dollar. PCGS graded AU-58 CAC.
Square base 2, Small 8, Large Letters. Light golden peripheral toning and very close to full uncirculated. PCGS # 39771. $950.

1835 Bust Half Dollar. PCGS graded AU50.
Overton-104. Wildly toned, with rings of blue and burnt orange. My photos do not do it justice. PCGS #39930. $875.

1884 Seated Half Dollar. PCGS graded MS67.
Stunning. One of the most beautiful seated half dollars of any date that I've ever seen. This is the second time I have handled this coin; the first was when it came out of a collection in rural Connecticut. PCGS #6366. $13,500.

1911-D Barber Half Dollar. PCGS graded MS65 Plus.
Mostly untoned, with a hint of green and gold. Well struck and reasonably priced; MS66's go for twice as much. This coin is accompanied by PCGS TrueView images. PCGS #6522. $2550.

1917-S Walking Liberty Half Dollar. PCGS graded AU58 CAC.
Mint mark on reverse. Fully lustrous and with just a blush of gold, this coin could easily stand in for a choice mint state example. PCGS #6573. $695.

​1900 Morgan Dollar. PCGS graded Proof-67 Cameo.
Just incredible. Nearly perfect. The way the Gods intended a Morgan silver dollar to look, and ever so close to a Deep Cameo designation. PCGS #87335. $24,500.​

World Coins, Exonumia, Flotsam & Jetsam
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​(ca. 1689) Electrotype Shells of the Obverse and Reverse of Irish Gun Money Halfcrown. Uncirculated [uncertified]
cf. Timmins 1A; cf Spink 6579D. Beautifully done electotype shells of the obverse and the reverse of a very high grade (uncirculated) Irish Gun Money Halfcrown Dated September of 1689. A fascinating example of a work-in-process high grade electrotype being made. Sourced in England. $175.

1803 $5 Kettle Token Counter. PCGS graded AU50.
These counters were listed in the appendix of the Judd pattern book for many years. No doubt more than a few were passed as genuine $5 gold coins to unsuspecting victims back in the day. A TrueView accompanies this coin. $495.

1856 Type Two Gold Dollar. Contemporary Counterfeit. Very Fine [uncertified].
A very well done contemporary counterfeit, struck in copper with a gold wash.  $275.

1858 Cathedral Medal. St Isaac Cathedral at St, Petersburg. PCGS graded Sprecimen-64.
Van Hoydonck-158, 59 mm. This imposing cathedral in St. Petersburg, Russia began construction in 1735 and was added to over the years. Gorgeous bronze color highlights the extreme intricacy of Jacques Wiener's masterful engraving. PCGS # 710452. $495.

1859 Cathedral Medal. St. Ouens Church at Rouen. PCGS graded Specimen-65.
Van Hoydonck-171, 59 mm. A gorgeous example of this medal depicting the cathedral at Rouen, which was the ancient capital of Normandy in France. Jacques Wiener's cathedral medals normally do not come so colorful. PCGS has graded 3 of these in all grades, this being the single finest. PCGS # 615113. $695

1894-A German New Guinea 10 Pfennig. PCGS graded MS64 Brown.
KM3, J-703. A stunning example of this popular “Bird of Paradise” design. This coin is accompanied by PCGS TrueView images. PCGS #550019. $495.

Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping. ​

Click to View Entire Inventory
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Making The Grade #41: Coin Grading Contests, And a $135 Million Attic Find Goes to Auction

2/12/2019

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So You Want to Enter a Grading Contest?

PCGS held a few “grading contests” at major shows a few years ago. I never participated, and later regretted not doing so. So when NGC announced they were going to be doing one at the FUN show this year, I signed up right away.

Here is what a grading contest consists of. Basically, you have 10 minutes to grade 15 coins. The coins are both US and coins of other countries. The coins are already in slabs, but without grade designations. To make things interesting, they mix in a few counterfeit coins as well, because professional graders are expected to be expert at detecting counterfeits as well.

You get so many points for grading each coin correctly (i.e. grading them the same as the grading service), and for detecting each of the counterfeits. The scores are totaled up; the top few contestants each receive a gift certificate for free grading, and a slab with a special designation on the label.

Out of 88 contestants, I'm proud to say that I tied for second place. Considering the dealers who also finished in the top few slots, I felt that was quite an accomplishment.

Long story short – I strongly recommend you sign up for one the next time it is offered. It is a lot of fun, and it can be useful to pit your skills against the best collectors and dealers out there.


A Rediscovered Painting by Caravaggio Will Be Auctioned this Spring... But is It Really a Caravaggio?

This painting was found in the proverbial attic in Toulouse, France in 2014. Caravaggio's Judith beheading Holofernes (c. 1606-1607) will be auctioned in spring 2019. It is estimated to bring $135 million. It's a cheerful and vibrant painting depicting a gruesome murder scene.

Many experts are convinced that it is a genuine painting by that Renaissance master. Other experts, like the British critic Jonathan Jones, claim that the painting lacks the "psychological intensity" or characteristic realism of Caravaggio.
(Yeah; dat's the ting I wuz gonna say too.)

He feels it may have been painted by a contemporary of Caravaggio.

So – was it painted by one of the greatest painters in history and worth over $100 million? Or was it painted by some other dude and worth a whole lot less? All I can say is – I'm glad we don't face this particular conundrum in the coin hobby.

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Featured Coin

1828 Large Size Bust Quarter. PCGS graded MS64 CAC.
Browning 4, rarity-3. A magnificent and completely original example of this last year of the large size bust quarters. I happen to know a little of the history of this particular coin; It was discovered not long ago in Europe. Rare so fine. PCGS #5342 $15,950.

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US Coins

1905-O Micro O Barber Dime. PCGS graded AU55 CAC.
The mintmark is tiny on this Redbook listed variety. Most are scrubbed up; this one escaped that fate and is completely original. PCGS #94836 $1500.

1795 Flowing Hair Half Dollar. PCGS graded Fine-15 CAC.
Overton-125, rarity 4. Really beautiful green, gold and russet toning gives this coin true personality. PCGS #6052 $2750.

1807 Draped Bust Half Dollar. PCGS graded AU53 CAC.
Overton-105, rarity 1. Well struck and colorful, this coin still retains the cartwheel luster in the protected areas of the design on both sides. A great example for a high end type set. PCGS #6079 $4250.

1818/7 Bust Half Dollar. NGC graded MS61.
Overton-101a, rarity1. Large 8 Redbook variety. Bold and brilliant, and with the cartwheel and strike of a much higher grade. Likely held back by a few areas of blue toning, but a wonderful example in hand. PCGS #6115 $3200.

1823 Bust Half Dollar. PCGS graded MS62 CAC.
Overton-112, rarity 1. Lovely green-gold toning over lustrous surfaces. PCGS #6131 $1975.

1824/1 Bust Half Dollar. PCGS graded AU58 CAC.
Overton-101a, rarity 2. Booming luster on this important overdate, with a few toning flecks. PCGS #6139 $2750.

1912 Barber Half Dollar. PCGS graded MS66 CAC.
A gorgeous coin, and one of the finest 1912 Barber halves in existence. PCGS has graded 4 at this level, and one finer (a 66+). This coin is accompanied by a PCGS TrueView image. PCGS #6524 $8500.

1881-S Morgan Dollar. PCGS graded MS65 CAC.
A toner of the first water. Copious amounts of green toning in various shades mix with russet and gold, as if Ms. Liberty was enjoying one of those psychedelic 1960's era parties. PCGS #7130. $950.

1900 Lafayette Dollar. PCGS graded MS64+.
Wild toning on this normally sedate issue. For the lover of beautiful color, this coin has it all: pull-away toning on some letters, rainbow peripheral toning, and deep cartwheel luster. How many Lafayette dollars have you seen with beautiful toning in your lifetime? That's-a-whatta-thought. PCGS #9222 $3250.

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World Coins, Exonumia, Flotsam & Jetsam

1792 Bolivia 8 Reales. PCGS graded AU55.
Potosi mint. Deep blue-gray toning that lightens as you approach the centers. PCGS TrueView images accompany this coin. PCGS #730535. $450.

1787 Clinton Cent Electrotype.  Uncirculated [uncertified].
The just ended (January 2019) auction of Alan Weinberg's early coppers produced what I believe are world records for electrotypes of US coins with prices into the 5 figures. This top quality electro looks like a screaming bargain in comparison. $1150.

1803 $5 Kettle Token Counter. PCGS graded AU58.
Almost never seen in this high a grade, this is a late die state, with the word “Kettle" partially effaced and some blue-russet toning over lustrous surfaces. PCGS #515881. $495.

1805 Ireland Penny. PCGS Proof-65.
Spink-6620. Bronzed, with an engrailed edge. Just a beautiful example of this 200+ year old proof copper coinage. PCGS TrueView images accompany this coin. PCGS #826875. $875.

1830 Contemporary Counterfeit Bust Half Dollar. Extremely Fine [uncertified].
Davignon 2-B. One of the less frequently seen bogus busties. This one is characterized by a tiny date and reverse lettering, as well as MS. Liberty looking very much like a Marine. $185.

1833 Contemporary Counterfeit Bust Half Dollar. Very Fine [uncertified]
Davignon 6-F. A reasonably high grade example of one of the more common bogus bust halves. $95.

1869 Shield Nickel. Contemporary Counterfeit. Very Fine [uncertified].
Quite nicely done. A few obverse spots, but high grade and undamaged. Shield nickel contemporary counterfeits are quite scarce and highly sought after. $225.

1892 Columbian Half Dollar “Opium Coin”.
These box coins are sometimes called “opium coins” because they allegedly were used to smuggle or store opium for their owners. This may be true in some rare cases, but more frequently they were used to house photos or other keepsakes of loved ones. But calling it an Opium Coin sounds way cooler. $250.

1937 “Reeded Edge” Buffalo Nickel & Wheat Cent. Uncirculated [uncertified].
I have read articles about these coins, but never owned any until now. The story goes that these coins had their edges reeded outside the Mint by Pennsylvania coin dealer Ira Reed, intended as a promotional gimmick to advertise his business at the 1941 ANA Convention in Philadelphia. It is thought that about 100 sets were prepared. Housed in a customer Capital Plastics holder. Heritage auctioned one of these 2 coin sets for $1997.50 in June of 2016. This pair in a custom holder is just $1350.


Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping. 
Click to See My Inventory
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Making the Grade #40: A Myth About High Relief St. Gaudens $20 Gold Finally Proven False; Plus - New Purchases

12/6/2018

1 Comment

 
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Every once in a while, as a dealer you come across a really cool collection that makes going through all of those piles of "stuff" (modern proof & mint sets, modern world coins by the ton) worthwhile. This is one such collection.
I purchased it earlier this year. As I mentioned in an online coin chat room recently, this collection is a time capsule. It was formed by a president of a small bank in New England, who was employed from the 1920's through the early 1960's. It has sat in a safety deposit box since that time.
He obviously was a bit of a collector. I suspect he had his tellers put aside any unusual coins and paper money they came across. Lots of really interesting stuff, but what might be the coolest (and certainly the items with the most monetary value) was this group of 3 high relief $20's.
It was suggested in that online forum that I should try to see if they stack, since that was mentioned as one of the reasons the mint switched to the low relief design later in 1907.
Good idea -- so I did so. There are very few times in life when I am blessed with having three raw, uncirculated high reliefs on my desk at one time. Counting this instance, there has been a total of one time so far.
As you can see from the photo, they stacked just fine. No wobbling at all caused by the high relief design.
It turns out, though, that "stacking" refers to the height of a pile of coins, not to the coins "wobbling." The height of a pile of 20 double eagles was the informal standard in bank counting rooms. This piece of information was explained to all of us in that chat room by numismatic researcher extraordinaire Roger Burdette (Isn't the Internet wonderful?).
Roger actually produced a copy of a letter dated January 9, 1908 from engraver Charles Barber stating that a stack of 20 high relief coins was about the same height as a stack of 21 double eagles made in the conventional “low relief” manner. So that was the actual “stacking problem” – not the fact that the coins couldn't be successfully stacked.
So – Roger Burdette knew this already, thanks to his brilliant in-depth research using original mint documents. I didn't know it though. And I suspect many of you out there in coin-land didn't know it either.
The high relief double eagles stacked just fine. Their thickness simply “messed up” pile heights in bank counting rooms. That, and the difficulty of minting them – each coin required 3 blows from the press to bring up the details – doomed them to less than one year of production. But in that brief period they minted some of the most popular coins the US mint has ever produced.

Featured Coin

1796 Draped Bust, Small Eagle Quarter. PCGS graded Fine-12.
A perfect example of a one year type coin. Has a “Circ Cam” look to it, which collectors of early US silver coinage find most desirable. This coin comes with PCGS TrueView images. PCGS coin # 5310. $27,750.


US Coins

1806/5 Draped Bust, Heraldic Eagle Quarter. PCGS graded AU50.
A surprisingly tough issue that doesn't trade much in the upper grades, such as this. Light golden gray toning over surfaces that retain a significant amount of luster in the protected areas. Well struck in Ms. Liberty's hair. PCGS coin #5315. $8450.

1838 Gobrecht Dollar. PCGS graded Proof-62.
Judd-84, restrike. Untoned and with no major distractions. A fantastic example of a coin that is hotly desired by serious silver dollar aficionados. This coin comes with PCGS TrueView images. PCGS coin #11352. $49,500

1872-CC Seated Dollar. PCGS graded AU55.
PCGS coins #6969 It is estimated that 400 coins survive in all grades combined from a paltry mintage of 3,150. This specimen has light gold toning over somewhat reflective surfaces. PCGS coin #6969. $13,500.

1885 Morgan Dollar. PCGS graded MS65.
She comes in colors everywhere... she's like a rainbow, as my ol' buddy Mick Jagger sung some time ago.  OK, so I don't know him.  But I do listen to his music.  In addition to coming in colors everywhere, this coin comes with PCGS TrueView images. PCGS coin #7158. $850.

1889-CC Morgan Dollar. PCGS graded MS63.
Here it is – a key date Morgan dollar in choice uncirculated condition. Lustrous and untoned. PCGS coin #7190. $48,500.

1892-S Morgan Dollar. PCGS graded AU58.
Another key date Morgan dollar on this list in high grade. This coin takes a ginormous leap in price in the next grade up, and the next grade up is not likely to be as attractive as this one. A big opportunity here. This coin happens to be a VAM-8, the “tripled hair” variety. PCGS Coin #412619. $15,750.

1903 Jefferson Gold Dollar. NGC graded Proof-67 Cameo.
Among the finest specimens in existence, as neither service has graded any finer. Seems too cheap for a superb cameo proof gold coin with an original mintage of 100 coins. PCGS coin #87482. $29,500.

1955 25c PCGS graded MS66.
It sure is purdy, with a rainbow toned obverse and a white reverse. This coin comes with PCGS TrueView images. PCGS coin #5858. $175.


World Coins, Exonumia, Flotsam & Jetsam

(ca. 1525-1544) Henry the 8th Groat (Fourpence). PCGS graded XF45.
Great Britain, Spink-2337E. Beautifully toned in blue and faded gold. Though the coin is beautiful (gorgeously toned, lustrous and with plenty of die lines still showing), the portrait of ol' Henry 8th was done from life. And as my Grandma would say – “He's no Beau Brummel.” If he wasn't the King of England, I'm guessing he would have had difficulty convincing 6 women to marry him. A PCGS TrueView image accompanies this coin. PCGS #672843. $975.

1861 Jacques Wiener Synagogue Medal. PCGS graded MS64.
Van Hoydonck #182, 59 mm. .A beautiful medium chocolate brown in color,.Very tough to find; it is one of the three (or so) "key" medals in the series  that Jacques Wiener created over a few decades in the mid-19th century. The Glockengasse Synagogue medal is the only synagogue medal he created; he almost exclusively engraved churches and cathedrals. This synagogue was destroyed by the Nazis during Kristallnacht on November 9, 1938. The site is now occupied by the Cologne Opera House. This medal comes with PCGS TrueView images. PCGS coin #616896.  $1650.

(1863) Bar Cent – Bolen Copy in Silver. PCGS graded MS62.
Musante JAB-2. Quite rare; said to be only a few pieces struck by John Bolen. The last specimen I recall selling at auction was in the Ford sale back in May of 2006. This coin comes with PCGS TrueView images. PCGS coin #525147. $6500.

(circa 1860's?) Bar Cent Imitation in Copper. Uncirculated (uncertified).
A crude example, probably struck for collectors (or to fool collectors) in the 1860's. This specimen is from the Eric Newman estate, where it shows he purchased it from Baldwin's in August of 1958 (Newman envelope included). $1500

(circa 1860's?) Bar Cent Imitation in Silver. Uncirculated (uncertified).
The same dies as the last, and also from the Newman estate. His envelope shows he purchased this four years after he purchased the copper example. He purchased it for $35 from Ken Bressett in January of 1962 for Thirty Five Dollars (clearly Eric Newman valued these pieces highly, as $35 in 1962 could buy you a nice piece of proof gold). $1500.

1892 Columbian Expo Pocket Watch.
And now for something completely different. Presumably this watch (and others) were made to be sold at the exhibition. This is the first I have ever seen of one, but I have since learned that at least a few others exist. The watch appears to be in complete working order, though I must advise the younger folks that it does not have a Fitbit chip in it. So there's that. $1250.

“1852” (nee 2009) Copper $50 size Slug Test Strike – Obverse. Uncirculated [uncertified].
A die trial strike strike on a brilliant piece of copper. Made for testing the dies prior to striking the gold 2.5 ounce gold “slugs” for sale by the California Gold Marketing Group (that purchased the recovered treasure from the SS Central America shipwreck). $695.

“1852” (nee 2009) Copper $50 size Slug Test Strike – Reverse. Uncirculated [uncertified].
As above – the die trial of the reverse. $495.

Or – buy the pair of die trial strikes for $995.


1856 Type Two Gold Dollar. Contemporary Counterfeit. Very Fine [uncertified].
A very well done contemporary counterfeit, struck in copper with a gold wash.  $275.


Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping. 
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Making The Grade #39: A Cool Coin is Lost; Collecting Stardust; plus – New Purchases

6/4/2018

1 Comment

 
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                                                             Another Cool Coin Lost... Forever?

Have you ever done something so dumb that you can't believe you just witnessed yourself doing it?
You haven't? Er … well, this is awkward then.
I was going for a, “Yeah Dave, I've done some really dumb stuff too,” sort of vibe here. Anyway, here's what happened with my adventure in stupidity.
A raw coin arrived in the mail for me last week. After I picked it up at the post office, I couldn't wait to see it in hand. So – like the eager genius I am I got into my car, opened the package right away and took the coin out of its 2x2 envelope.
Instantly it slipped through my fingers and fell into a tiny seam in the center console of my car.
One moment it was in my hand; the next – gone like it never existed. If I had 100 more tries I couldn't have dropped another coin into that tiny gap.
When I recovered from the shock of it I furiously tried to get at the coin from various angles, with no luck. In frustration I briefly considered turning the car upside down and shaking it until the coin fell out, but that seemed impractical.
To recover it will require some major dis-assembly of the interior of my car. I have a good coin friend who fixes up cars for resale who I know could help, but I don't know if I want to subject myself to the ridicule that will most assuredly come with his assistance.
Its not even about the money – I just wanted that damn COIN! For 200 years it survived in delightful shape against all odds. Two world wars, several financial panics, one worldwide depression –it was still pristine. Now in one quick second it is part of a sedan. Ugh.

                                                                       Here's an Idea: Collect Stardust

Scientists have discovered that every single speck of gold now on earth was the result of one or more collisions of two neutron stars in our galaxy. This likely occurred billions of years ago.
This sounds like something I would make up, but it is absolutely true. Such a collision was first observed last August (during the ANA convention, perhaps?) by astronomers in the US, Germany and Great Britain. In the words of one of those astronomers, Dr. Joe Lyman:
“The observations showed we were observing a kilonova, an object whose light is powered by extreme nuclear reactions. This tells us that the heavy elements, like the gold or platinum in jewelry, are the cinders, forged in the billion degree remnants of a merging neutron star.”
Here is a link to the story in Britain's Telegraph: https://www.telegraph.co.uk/science/2017/10/16/secret-gold-finally-found-precious-metals-forged-cataclysmic/


Pretty cool, ay?


                                                        The Making the Grade Featured Coin


(1860-1867) Japan Gold Koban. PCGS graded AU-55.
JNDA 09-23 Man'en 万 延 variety.3.30 grams.
And now for something completely different. This coin stopped me in it's tracks when I saw it – it is just that beautiful. Gorgeous green-copper-gold in color. Most of these are found damaged or repaired, most likely due to their somewhat delicate nature. I'd be willing to bet most serious coin collectors do not have even one Koban in their collection. Here is your chance – and it is a real looker too. PCGS #392755. $1250.


                                                                                 New Listings

1652 Pine Tree Sixpence. PCGS graded AU50.
Salmon 2-B, Noe-33, rarity-3. Perfectly centered on the date side, and a bit off the flan on the tree side, as always found. PCGS # 22. $7500.

1833 Bust Half Dollar. PCGS graded Very Fine-30.
O-101, considered to be rarity-1. An ordinary coin blessed with extraordinary color on both sides. Likely dipped in the past and placed into a sulfur containing coin board, the result is quite pleasing. PCGS #39887. $250.

1853 Seated Half Dollar. PCGS graded XF45.
Arrows & Rays type. This coin and the next were housed in a Wayte Raymond style holder, with pastel toning being the delightful result. This coin is accompanied by TrueView images. PCGS #6275. $485.

1874-S Seated Half Dollar. PCGS graded XF40.
With Arrows type. Attractive pastel toning from being housed in a Wayte Raymond style coin board for decades. This coin is accompanied by TrueView images. PCGS #6348. $525.

1879-1901 Range. Lot of 9 $10 Liberty Gold Coins. Circulated [uncertified].
This is a collection of $10 Libs that was put together in the early 1970's. Normally I would just wholesale this group out because these aren't worth much more than their melt value these days, but it is kinda neat (by my standards, anyway). These were purchased be a collector in the early 1970's from the legendary firm of MTB (Manfra, Tordella & Brooks). MTB was a big importer of US gold from Europe, and also handled many great US gold rarities. Grades range from Choice XF to Choice AU. It looks like the collector paid $50 or so on average back then, so he did OK.  They are certainly not common dates, but in today's coin market they still sell for only a few percent over their gold value. The dates are: 1879, 1880, 1881, 1883, 1885, 1887, 1888, 1894-O and 1901-O.
Just $685 each = $6,165 for the group.


                                                                   World Coins, Exonumia, Flotsam & Jetsam

1717/6 8 Escudos, Spain. NGC graded AU58.
KM-260. The single highest graded coin of this rare date, and the highlight of this list. Flashy luster with russet color peeking around the rims. $ 8750.

1756 8 Escudos Gold. Peru. NGC graded AU58.
Lima mint, JM assayer. A flashy example of this large and heavy gold coin. $4950.

1768 8 Reales Pillar Dollar. Guatemala. NGC graded MS61.
Flashy, slightly prooflike surfaces over rich gold-green-blue toning. Pedigreed to the Richard Stuart collection, as stated on the NGC tag. A tough issue in such a high grade. $4350.

1773 8 Escudos Gold. Spain. NGC graded MS62.
The prooflike fields on both sides give this large gold coin fabulous eye appeal. Perfect for the collector that wants one amazing example of this historic coinage. $5500.

1797 $10 Gold Contemporary Counterfeit. Extremely Fine [uncertified].
Likely copper with a gold wash. There are several dates of contemporary counterfeit $10's known; though they are all quite rare. $3650.

1805 $10 Gold Contemporary Counterfeit. Uncirculated [uncertified].
These early $10 counterfeits are normally seen with some or all of the underlying copper exposed. To find one in such extraordinary condition is unprecedented. $4500.

1809 2 Escudos Gold. Spain. PCGS graded AU50.
KM-455. Seville mint, CN assayer. Pretty russet toned gold. A n historic gold coin for just $550.

1855 $5 Gold Contemporary Counterfeit. Almost Uncirculated [uncertified].
A beautifully crude example of this historic issue. The weight of the coin is 8.1 grams, or about the weight of a genuine gold example. This leads me (and previous owners) to believe that it is actually struck in platinum. Platinum was considered a cheap substitute for gold by counterfeiters in the mid 19th century, though platinum counterfeits of US coins are almost never seen today. Of extreme importance. $2500.

1861 CSA “Beauregard Dime”. NGC graded Very Fine Details.
 A prized Civil War rarity. An article published in 1868 noted that these medals were “presented by the city of New Orleans immediately after the first battle of Bull Run." There are fewer than 10 specimens known, and nearly all are impaired in some way. This one is called, “VF Details, mount removed, obverse tooled” by NGC. It actually presents very well. There are several auction records around $10,000 and above. This one is just $5750.

(Circa 1800's? 1900's?) $5 Gold Size Contemporary Counterfeit. Uncirculated [uncertified].
Likely struck in gold (or possibly platinum with a gold wash) this fascinating piece is difficult to categorize. I giant, fat Liberty head on the obverse, an undernourished eagle on the reverse and delightful gibberish for legends, this coin may best be categorized as an imitation. The counterfeiter (or gold smuggler?) was hoping to avoid prosecution under the counterfeiting laws of the time. Quite reasonably priced at $975.

"1781" (2014) Libertas Americana Medal. Paris Mint Restrike. Silver. 5 ounces. NGC graded Proof- 69 Ultra Cameo. 
A large, impressive, heavy silver medal made in the same mint that made them back in 1783.Dealers usually want a lot of money for these popular medals, but every once in a while I am able to buy one at a reasonable price, and when I do I pass it along to you. The last one I offered garnered several orders. $595.

“1781” (2014)  Libertas Americana Medal. Paris Mint Restrike. Gold. 1 ounce. NGC graded “Gem Proof”.
A terrific companion piece to the above medal. A 1 ounce rendition of this beautiful medal struck at the Paris mint. A restrike issue of particular importance to collectors of US medals, from a mintage of 5000 pieces. $1950.


Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping. 
Click for full inventory
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MTG 38: Well Preserved Coins are Little Miracles; Plus - New Purchases

3/31/2018

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This is Why We Can't Have Nice Things
 
It seems whenever I buy something new, something bad happens to it.

Within a week of buying every new car, someone's car door or a stray shopping cart has made a little dent in the side of it. 
 
I was reminded of this truism this morning.  I was looking at our kitchen table and the somewhat faded big red stain right in the center. 
 
Flash back 10 years.  We had 2 young kids, and our old kitchen table had permanent marker and glitter glue indelibly embedded in it from, well, 2 young kids. 
 
I was tired of looking at that crappy old table so we started fresh with a beautiful new oak table. We admonished our kids to always put something on top of the table before starting art projects.  Which they absolutely did, for a day or two anyway.
 
A week or so later I came home from a hard day of coin dealing and immediately noticed a large red stain on the new table. It looked as though someone slaughtered a meduim-sized animal there.   Neither kid did it, of course.
 
I set to work on removing it, but that stain wouldn't budge.  That was a decade ago. 
 
Every week since, when we clean the house and after every meal we give that stain an extra hard scrubbing.  The stain is still there, but it has faded very slightly.  I propose that the US Navy use whatever ink that stain was made from to coat our nuclear submarines; we'd never have to paint them again.

Why do I bring this up?  Well, partly because that stain still really bugs me when I see it, but mostly to make a point about coins.  Yes – this really does relate to coins. 
 
I was reminded of humans' frequent failure to keep nice things in pristine condition when I purchased a collection from a local estate.  It was a large collection consisting of very ordinary coins – circulated common date Morgan dollars, dateless Buffalo nickels, oodles of wheat cents and so on.
 
But in the midst of this there was a Morgan dollar.  A beautiful, unmarred, superb uncirculated 1885 Morgan dollar (see below).  It seemed to glow in the dark, especially in that morass of "stuff". How did it remain in this condition for all these years?  And how did it end up in there?  Seeing it in the midst of that typical, beat up coinage reminded me that every single high grade coin still in existence is a little round miracle. 
 
These objects were made to be used, and used hard.  When we see one that has somehow escaped the fate of nearly all of their brethren it gives me a renewed appreciation for each of them.
 
 
Six hacks to improve your coin buying...

... is a headline you’ll never see in this e-newsletter.  Er, not counting just now.

I see so many headlines these days with the word “hack” in them that I assume these articles are mostly written by, well, hack writers:

          * Twelve hacks to get your dog to eat more jello
          * Fifteen hacks to get rid of your hacking cough
          * Fourteen hacks to teach your child to count to fourteen

Enough.

 
Send a Friend a Freebie
 
If you think a fellow collector or dealer might enjoy these incredibly insightful articles along with images of gorgeous coins at practically give-away prices, let me know.
 
Drop me a line with their email address. I’ll contact them and ask if they want to be added to the email list.
 
Most likely they will be grateful to you.  Perhaps they will talk kindly of you behind your back.  Maybe even send you an expensive birthday gift.  Hey- it could happen!
 
 -------------------------
 
The “Making the Grade” Featured Coin

 1793 Chain Cent. AMERI Variety. PCGS graded Fine-15.
Sheldon-1, considered to be rarity-4. Here it is folks – the coin that is considered the very first regular issue of the Philadelphia mint. Nice brown color, no planchet defects, a bold chain and AMERI. You know you want one. $27,500.

------------------------
​New Listings

1652 Pine Tree Shilling. PCGS graded VF30.
Small Planchet. 68.2 grains. Blue, russet and gray toning with a bold tree and a bold date. $4750.

(circa 1694) Elephant Token. PCGS graded XF45.
Even brown, hard surfaces. Always a popular design. $1450.

1786 Vermont Landscape Copper. PCGS graded VF35.
Vermontensium Redbook type. Ryder-6. A lovely milk chocolate brown coin, with hard surfaces. These are so difficult to find that are pleasing to the eye, as here. There are always – always – issues that collectors have to deal with; it is just a matter of finding a specimen where the issues are not bothersome. $2950.

1835 Half Cent. PCGS graded MS64 Red [ogh].
Cohen-1, rarity-1. Full, screaming mint red over full, screaming cartwheel luster. This coin has sat in its slab for over 25 years, so you can be assured the color is stable. A few carbon spots near the rims on both sides. PCGS #1170. $3750.

1873 Two Cent Piece. NGC graded Proof-45.
Closed 3. A fantastic opportunity to obtain a choice, circulated example of this proof-only date. In high demand from those assembling matching sets of business strikes of this completeable series. $2200.

1851-O Three Cent Silver. PCGS graded MS65 CAC.
A gem example of the only mint marked 3c silver issue. $3450.

1944-S Washington Quarter. NGC graded MS68 CAC.
What can I say? Simply among the finest of this date that exists. $5500.

1820 50C No Serifs on E's Redbook Type. PCGS graded AU50.
Overton-107, considered to be rarity-5. This is in constant demand from both Redbook type collectors and from die variety collectors. The finest known is just AU58. Even low grade & damaged specimens sell for several thousand dollars. This is an opportunity to fill that tough spot in your set with one of the highest graded specimens. PCGS# 39571. $17,500.

1885 Morgan Dollar. PCGS graded MS66 CAC.
This is the very coin I referred to in the article above. This little jewel was in a collection of ordinary “stuff”. Somehow this coin escaped having the life beat out of it like nearly all of its companions. It makes me happy just to look at it. Perhaps it will do the same for you. $700.


World Coins, Exonumia, Flotsam & Jetsam

1691 Ireland Limerick Besieged Halfpenny. PCGS graded AU50.
A very high end example of this crude coinage. Struck over gun money, some of the undertype is visible. The “N” in HIBERNIA is backwards, there are die cracks everywhere and the engraving is laughably crude. A fun piece. $895.

1792 Guatemala 8 Reales. PCGS graded XF45.
NG mint, M assayer. Rich, original toning and a scarcer mint too. $795.

1795 Spain Half Real. PCGS graded AU58.
This diminutive coin (about the size of a half dime) is quite detailed & lustrous. A tough denomination to find. $275.

(ca. 1790's). Hanging Man Farthing Token. NGC graded MS65 Red & Brown.
Middlesex-Spence's, Dalton & Hamer-1110. A popular motif – a man hanging from a gallows having been executed, END OF PAIN around the periphery (a play on words, referring to the American rebel & author Thomas Paine, who was none too popular among the British monarchy). The reverse shows Pandora's breeches on fire. The coin is on fire as well, retaining close to 100% of the red that it possessed on the day it was struck. $2950.

1803 $5 Kettle Token. PCGS graded MS63.
Judd-C1803-3. Listed in the appendix of the Judd pattern book, these pieces look like $5 US gold coins but are are actually gaming counters struck by the English firm of Kettle & Co. This specimen is in the running for finest known. $1500.

1849-dated $5 Gold Rush Counter. NGC graded MS64.
Often collected with other gold-rush era coinage & ephemera, this specimen is by far the finest example of this popular token I have seen. Full gold wash on both sides. Add your name to the illustrious pedigree: Ex. John Ford & Q. David Bowers. $1200.

1852-dated ‘$20’ Brass Counter. NGC graded XF45.
A popular but rarely seen counter. Somewhat mottled lighter and darker brown patina. The record price for one of these was a raw specimen graded “nearly Extremely Fine” that sold for $978 (Stacks 10/16/2007:3258). $475.

(1863) Bolen's Bar Cent Stuck in Silver. PCGS graded MS62.
JAB-2. John Bolen's copy of the Bar Cent, stuck in silver and quite rare as such. The similar one in the Ford sale (Stacks 5/06:558) sold for $7475. This one...$5750.

circa 1863 Fredrick the Great medal in Fancy Box. Uncirculated [uncertified]
A beautiful bronze medal about the size of a half dollar. Frederick the Great's younger brother, Bubba-The-Slightly-Better-Than-Average, was always a bit jealous of him for some reason. Perhaps it was because of this medal, which comes with an elaborate box. $165.

2008 $50 Humbert Commemorative Copper Die Trial. Gem Uncirculated NGC. 
This is a die trial of the restrike of the $50 Humbert octagonal “slug". This is one of just 12 struck in Copper by the SS. Central America Marketing Group. $2300.

2008 $50 Humbert Commemorative Pewter Die Trial. Gem Uncirculated NGC. 
This is a die trial of the restrike of the $50 Humbert octagonal “slug. This is one of 49 struck in pewter by the SS. Central America Marketing Group. PCGS #661000. $1900.

2008 2.5 Ounce “Humbert Commemorative” Octagonal Slug. NGC Gem Proof Ultra Cameo.
This piece uses 2.5 ounces of "Pure California Gold" according to the inscription on the reverse. The octagonal shape was chosen to commemorate the original Augustus Humbert fifty dollar gold pieces. 500 pieces were struck. PCGS #10361 $3850.

1933 Huey Long Medal. NGC MS64.
A popular medal, made in the shape of a toilet seat. It commemorates an event where a loudmouth populist politician (Huey Long, a.k.a. “The Kingfish”) was punched in the nose after he drunkenly soiled the pants leg of the person next to him in the men's room of a supper club. The incident received much publicity, culminating in the striking of this medal. One original was struck in gold and was to be presented to the person who punched Mr. Long, but it was never claimed. That gold specimen now resides in the ANS museum. $750.

(2015 Restrike) Washington Before Boston Silver Medal. NGC graded Proof-70 Ultra Cameo.
A 1 ounce proof silver version of this rare and historic medal. If you don't feel like shelling out tens of thousands of dollars for an original, consider this substitute. $240.


Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping.  ​
Click for Full Inventory List
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Making the Grade #37: Fantastic Coins and Where To Find Them

10/24/2017

1 Comment

 
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 Well, you can find fantastic coins here, actually. Simply scroll past the painstakingly written but completely uninformative articles below and have a go at them.


Idea: Sell Your Stuff At Auction and Receive 10,000 Times What You Were Told Was Worth

Late last month in Switzerland, a Chinese vase that was estimated to be worth between $500 and $800 actually sold at auction for $5.1 million. Must be the brilliant work by that auction house to bring out such aggressive bidding, right?

Um, not really.

That incident reminded me of a similar situation here in Connecticut a few years back. A local antiques auction house had a $2.50 Liberty gold coin that they estimated at around $500. It actually sold for over $60,000 (I remember, because I was an underbidder).

The ridiculous part of the Connecticut auction house story was that for years afterward the auction house used that as an example in their advertising of the “strong prices” they generate at their sales.

What it actually tells me is that both those auction houses had no clue what they were selling. They likely have let other really desirable objects sell for way under their market value over the years due to their lack of competence.

It will be interesting to see if the Swiss auction house uses that result in their marketing. I suspect they will.

PS: Apropos of nothing – as this e-newsletter was going to press it has been reported that a record $37.7 million has been paid at Sotheby’s for a tiny dish from the Northern Song dynasty. Looking remarkably like a plain, light green cereal bowl to the untrained eye [i.e. to my eye], this is a record price for any Chinese ceramic.


A Book Recommendation from a Sister Hobby

I love books. I devour them at the rate of almost one per year.

Ok, so I'm no speed reader. But when I come across a book that might interest my fellow coin collectors I want to let them know. This book is called, “Art Collecting Today”, by Doug Woodham.

This book might not be obviously geared toward coin collectors. We numismatists feel that our problems, passions and pleasures are unique to us and to our hobby. But that is simply not the case.

They say that Leonardo Da Vinci's genius was his ability to see similarities and patterns across very different areas such as physics, art and biology. Maybe he had a few other things going for him too, but you get the idea.

The art world has many parallels to our own. Mr Woodham interviewed nearly 100 collectors, lawyers, art advisors, gallerists, and auction specialists in the United States and Europe.

He discusses the promoted areas, the trophy collectors, the condition issues, the pricing, the areas that became popular and then faded into semi-obscurity, and so on.

He discusses whether prices are more favorable at dealerships or at auction houses. He also proposes strategies for bidding at auction and other intriguing questions that pertain to both art and coin collecting. It is disarmingly honest, well written and extensively footnoted.

I found the wisdom from long time art collectors can help numismatists as well. Often their experiences collecting art were funny, and sometimes poignant too.

You can buy it on Amazon or your favorite bookseller. And if you mention my name, you will get zero percent off, as no one knows who the heck I am.


The “Making The Grade” Featured Coin

1838 Gobrecht Dollar.  NGC graded Proof-64.
Judd-84.  This is die alignment III, according to the NGC label (coin turn, eagle flying level).  The 1838 Gobrecht dollar is decidedly rarer than either the 1836 or the 1839.  This coin exhibits hard, reflective mirrors and light silvery gray toning.  $89,500.



New Listings

1786 Connecticut Copper. M. 2.2-D.2, the “Noble Head”. Good [uncertified].
One of the important rarities among 1786 CT varieties, with perhaps 15 or so known in total. And unlike most of those known, there is no damage or corrosion on this one. There are a number of serious CT copper collectors that either lack this variety, or lack a problem free example. Here is your chance. $6950.

1787 Fugio Copper. PCGS graded MS64 BN.
Newman 13-X, rarity-2. Undoubtedly from the Bank of New York Hoard, which was discovered in the 1850's. This coin has superb luster and traced of the original New Haven mint red. $4750.

1808 Draped Bust Half Cent. NGC graded MS63 Brown.
Cohen-3, rarity-1. The 1808 “normal date” has only one die variety, and the date is anything but normal. The last 8 is actually made up of two small zeroes; it does not match the other 8. This coin is among the finest known of the date; they simply do not come much nicer. $9500.

1880 Liberty Nickel.  PCGS graded MS65 CAC.
Just 16,000 were minted, and this date is considered an extreme rarity in gem uncirculated.  A prize for the date collector.  PCGS TrueView images accompany this coin.  $89,500.

1824/2 Bust Quarter. PCGS graded XF45.
Browning-1, rarity-3. Deep blue toning fading to russet and gray in the centers. Tough semi-key date. $5500.

1819 Bust Half Dollar. PCGS graded MS62.
A really choice coin at this grade level, and an earlier date too. $4350.

1824 Bust Half Dollar. PCGS graded AU58.
Overton-113 die variety, considered to be rarity-1. A stunner, and more attractive than most mint state examples one is likely to come across. $1750.

1902 Barber Half Dollar. PCGS graded MS65.
In the recent past, this date (1902) was considered a much better date in gem uncirculated and typically sold for twice what common dates sold for. Now that attention has focused elsewhere in the market, the 1902 sells for the same price as the most common dates. They haven’t found any more of these – it is just something that can happen in overlooked series from time to time. Word to the wise… $1975.

1921-S Walking Liberty Half Dollar.  PCGS graded MS64 [ogh].
The key to this popular series, housed in an older PCGS green tag holder.   The next grade higher is a solid six figure coin.  $62,500.

1923-S Walking Liberty Half Dollar.  PCGS graded MS65 CAC.
An absolutely gorgeous coin.  This date is nearly impossible to find this nice, and with this much eye appeal.  Destined for the finest set of Walkers.  $26,500.

1887 Morgan Dollar. PCGS graded MS65 CAC.
Zim zam! That's all I have to say about that. $775.


World Coins, Exonumia, Flotsam & Jetsam

(1526-1544) Henry VIII Fourpence. PCGS graded AU50.
Great Britain. He's 'Enery the Eighth He Is, He Is! A very high grade example of perhaps the most famous (infamous?) of the English kings. Spink-2337E. $975.

1721-H French Colonies 9 Deniers. Extremely Fine. Counterfeit. Electrotype. Almost Uncirculated [uncertified].
An electrotype of the very highest quality. This has actually been graded by PCGS as a genuine coin at one time; it came out of a PCGS XF-45 holder . Nobody’s perfect, and it is easy to see why they thought this coin was authentic. A superb example of the electrotypist's art – and it is made from a magnificent host coin. $775.

1764 Mexico Pillar Style Two Reales. PCGS graded AU50.
Mexico City Mint. A high grade example of the workhorse denomination in the US Colonies. These “two bit” pieces were heavily used, and thus are difficult to find in high grades such as this. A PCGS TrueView image accompanies this coin. $595.

1780 Mexico Two Reales. NGC graded AU58.
Mexico City Mint, FF assayer. Silvery gray light toning, with considerable prooflike flash in the fields. $550.

(1792) Washington Diplomatic Medal. Paris Mint Restrike. PCGS graded Gem Proof, DCAM.
This is a 2 oz. silver modern restrike of the rare original. The medal comes with a COA and a case of issue. $240.

1798 Peru Two Reales. NGC graded MS63.
Lima mint. IJ assayer. An incredible example of the portrait-style two reales coinage. They just don’t come like this. As I mentioned in the description of the 1764 two reales above, these coins were heavily used. Finding such a pristine example is a real treat for the eyes. Full, booming cartwheel luster, very light golden toning and struck just the slightest bit off center at one o’clock. $1250.

1836-O Contemporary Counterfeit Bust Half Dollar. Fine to Very Fine [uncertified].
Davignon 4-D. One of the delights of the Bogus Bustie series. A date that doesn’t exist in the “real world”; the counterfeiters in the 1840’s must have seen a genuine 1839-O bust half and assumed there were other dates with an obverse O mintmark. There are ten examples reported. $975.

1837 Contemporary Counterfeit Bust Half Dollar. Almost Uncirculated [uncertified].
Davignon 3-C. Also listed in JL Riddell’s 1845 book on US circulating coinage of that period, where it is listed as Riddell 472. This is a common variety in very uncommon condition. It is pedigreed to the personal collection of Anthony Terranova, and his tag accompanies the coin. $495.

1854 Arrows Seated Half Dollar, Counterstamped.  NGC graded AU details, Holed.
A lustrous seated half on the cusp of mint state that has been neatly counterstamped "C. Moore" and holed.  The counterstamp is listed as Brunk M-832.  $300.

1859 Cordoba Cathedral Medal by Jacques Wiener. Uncirculated [uncertified].
Hoydonck-168. Jacques Wiener's magnificent rendering of the cathedral at Cordoba, Spain. Built in 786 as a mosque and converted to a cathedral in the 1200's. There is no truth to the rumor that this cathedral was named after the Chrysler Cordoba automobile, by the way. I want to put that to rest for good. $550.

1860 Seated Quarter. Contemporary Counterfeit. Very Fine [uncertified].
C-101. A very rare contemporary counterfeit. There is a hard core of seated quarter contemporary counterfeit collectors out there so I expect this coin won't be around for long. $350

1877-1878 Collection of Four Box Trade Dollars.[uncertified].
A spectacular, if small, collection, decades in the making. Unlike most box dollars that are damaged to one extent or another, all four box dollars are choice. Includes:
   +  1877 Trade dollar. XF-45. Has a frame for a phtotographic image. The lid is the reverse.
   +  1877-S Trade Dollar. Inside is a period photo of aa gent with a large, bushy mustache. The lid is the reverse.
   +  1878 Trade Dollar. Fine. This coin does have some marks where folks have tried to open it. The lid is the obverse.
   +  1877-S Trade Dollar. AU50. Another, though this one sports a woman’s picture. The lid is the reverse.
All have pleasing silvery gray toning. $1850.


1902 Wells Fargo & Co. Semi-centennial Medal. Silver. PCGS graded MS62. With Original Box.
HK-295, rarity-5. Very popular due to the flavor of the old West that anything Wells Fargo conveys. These medals were given out to certain employees of the firm in 1902. Difficult to find with the original box, especially a box so fine. $1495.

1949 Silver Bar from a Brazil Numismatic Expo. As Made [uncertified].
This is a souvenir silver bar from the Brazil Numismatic Exposition held November 5-12, 1949; crowned shield SANPEX below / SANPEX across globe, date below, stamped with issue number 179. Rarely seen these days. $350.



Contact info to reserve coins:
Website - www.DaveWcoins.com
My email address – davewnuck@gmail.com
Phone - (203) 231-1213 
Always Free Shipping.  ​
Click to View Entire Inventory
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Making the Grade #36: Authenticating Coins vs. Modern Art; Plus - The One That Got Away

6/19/2017

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Psst! Hey Buddy... You Wanna Buy a $10 Million Painting Just Found in Arizona?
​

All I can say is – I thank goodness that we live in the fact-based world of coin authentication, and not the less scientific and somewhat “squishy” world of modern art authentication.

That was my reaction when I heard about a newly discovered, unsigned painting by the painter Jackson Pollock. At left you can see her in all her glory.

Unlike coins, where we use primarily scientific methods to authenticate coins, here is what the modern art world is forced to sometimes use for authentication (per the website of J. Levine, the auction company selling this painting this very week):


“Peter Paul Biro (Forensic Studies in Art):
'… the dating of the painting to the mid twentieth century is well established as no pigments or binding media introduced in the late 1950s and 1960s have been detected. Furthermore, the artist’s working materials and painting technique are illuminated.' Full forensics report available upon request. “

So – no signature, no direct paper trail from the artist to the current owner, no mention of this painting in any prior catalog of this famous artist's work, etc. Just that the materials used were consistent with those used in the mid-1900's, it looks like something Mr. Pollock painted, and the owner has some sort of connection to the painter.

Now, I'm certainly not saying this isn't a genuine Jackson Pollock. If the auction company says it is, then it is.    I have absolutely no scientific basis and no expertise to say otherwise (plus, I don't want to get sued by anybody). The auction house used every tool at their disposal to determine if it is authentic, and I applaud them for that.

I know that we in the coin hobby aren't 100% perfect in detecting counterfeits. But I also know that I sleep well, knowing the current excellent state of our coin authentication techniques.


I Found The One That Got Away

When I was a boy of around 12, I came across an old auction catalog of large cents. Specifically, it was the Louis Helfenstein Collection of Large Cents, sold by Lester Merkin in 1964. The cover photo stopped me in my tracks.  See below for that image.

His large cent collection was out of this world in terms of quality. I purchased the catalog and that was that.

Then, sometime later, I was lucky enough to win a scholarship to attend the ANA Summer Seminar in Colorado Springs. And there, in the darkened bowels of the ANA museum there was a large, back-lighted image of this famous (in the numismatic world, anyway) photo above a display of large cents.  I don't remember the coins in the display, but when I saw that image "floating" in a darkened room it was nearly a religious experience for me.

Fast forward to the mid-1990's.  

The eminent numismatic book dealer Mr. Charles Davis had a stack of maybe 25 or 50 of these images at a coin show in Boston.  They were poster size, in full color -- just beautifully done.  Exactly what I was looking for.  Wow!  My dream had finally come true.
 
So I obviously went right over there and purchased one. Right?

Wrong-o.

He had a whole pile of them, and I was very busy at that show. Besides, I didn't want to put that fragile photograph behind my table and then carry it home for fear that I might damage that precious cargo.  So I told myself I'll buy a copy at the next show when I'm better prepared to handle this fragile, awkward item.

So right at the start of the next show on the circuit I ran up to Charlie's table and told him to put one aside for me.
 
He said: Sorry.  They are sold out.
 
Wha...?
 
All gone?  So quickly?  He had a big pile of them about 3 weeks before!
 
Long story short -- I have spent the next 21 years looking for one of those damn posters.

And wouldn't you know it?  At this Spring's Early American Coppers show in Philly, Charlie Davis once again had a (very small) stack of them.  This time I bought one right away.

Now I can die a happy man.

As an epilogue to this story, later in that show a good friend and customer said - "I've got a present for you."  And sure enough -- he had bought another one for me at the same show, not knowing I already bought one.  I thanked him profusely, of course.  (I had told everyone who would listen during those 21 years my tale of woe and of "the one that got away". Remarkably enough -- he remembered. My stories must be more memorable than I thought).

So I went from no posters, to 2 posters. I've since given one away to a family who is collecting high end early copper in a big way. Hopefully they will enjoy the image as much as I know I will.
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The “Making the Grade” Featured Coin
​
1857 Flying Eagle Cent. PCGS graded MS64 CAC.
Attractively toned, lustrous, and quite choice. $1950.


New Listings

1825 Matron Head Large Cent. PCGS graded MS63 BN.
A full lustrous cartwheel sheen covers both sides in full. Light brown in color and quite pleasing in hand. $4500.

1865 Indian Cent. PCGS graded Proof-64 Red Cameo.
A stunning example of a rarely seen Cameo-ed Indian Cent. $5500.


1865 Seated Dime. PCGS graded MS67.
A spectacular example of this popular civil war date, and likely among the finest few in existence. $11,500.

1847 Seated Quarter. PCGS graded MS65 CAC.
This is the Gene Gardner specimen, last sold in 2014. It is among the finest known of this conditionally rare gem seated quarter date. It is accompanied by a PCGS TrueView image. $15,000.

1854-O Seated Quarter, With Arrows. PCGS graded VF-35.
Huge O variety. Very popular due to the ridiculous, crude O mintmark that was seemingly carved into the die with a steak knife. This coin is unknown above Choice AU. $3550.

1891 Seated Quarter. PCGS graded MS66.
Booming luster over light golden toning. A great example of the final year of this long lived series. $2400.

1835 Bust Half Dollar. PCGS graded AU53 CAC.
O-103.light golden russet in color. Ex. Dick Graham collection. $485.

1882 Morgan Dollar. MS66.
It is hard to find even one flaw on this coin. Knockout blue-green-red toning on the obverse $1475

1882-S Morgan Dollar. PCGS graded MS68 CAC.
Gorgeously toned, and nearly perfect, as one would expect from an MS68 CAC'd coin. $8950.

1888-O Morgan Dollar.  PCGS graded MS66.
Zippidy do dah!  Color everywhere.  A better date, priced at only a modest premium over an untoned example.  $2550.

1890 Morgan Dollar. PCGS graded MS65+, CAC.
Light golden toning with a hint of blue rim toning. $1975.


World Coins, Exonumia, Flotsam & Jetsam


(1652) dated Pine Tree Threepence, Wyatt Copy. PCGS graded AU50.
W-14060, per the Bowers' Colonial encyclopedia. Struck in silver, with crusty gray toning and just a hint of luster. Thomas Wyatt made these copies in New York City, most likely during the 1840-1856 period. They were first mentioned in a periodical of the day in June of 1856. A PCGS TrueView image of this coin is included. $975.


(1652) dated Pine Tree Sixpence, Wyatt Copy. PCGS graded XF45.
W-14072, per the Bowers' Colonial encyclopedia. Struck in silver and made circa 1856 or so. Crusty gray toning, and not conserved in any way.A PCGS TrueView image of this coin is included. This coin and the previous Wyatt copy on this list have been off the market since at least the 1960's. $975.

1792 Washington President Pattern. Electrotype Copy. Almost Uncirculated [uncertified].
A great,medium chocolate brown electrotype copy example of this rare pattern issue. I have never handled an original, so I have had to satisfy myself with this electrotype copy until that time comes. $295.

1793 Wreath Cent Electrotype Copy. Uncirculated [uncertified].
A well made example of an uncirculated wreath cent. The host coin could likely be identified with some detective work, as it would be valued into the six figures today. $295.

1803 Half Eagle Size Kettle Token. PCGS graded XF40.
A beautiful chocolate brown, with absolutely no trace of the gold wash that was likely originally present. These were manufactured in Birmingham, England for use as gaming tokens. They are often collected by US numismatists due to their similarity to US $5 gold pieces. This item is accompanied by PCGS TrueView images. $495.

1808-Mo Mexico Four Escudos Contemporary Counterfeit. Very Fine [uncertified].
Likely brass, with a gold colored finish. It took guts to try to pass a “gold” 4 escudos counterfeit, as that was a hefty sum. Double struck, with subtle and pretty toning. $195.

1810 So Chile 8 Reales. NGC graded AU53.
Santiago Mint. A well detailed portrait of Ferdinand VII (no relation to Franz Ferdinand, the 1980’s New Wave group, by the way). Lustrous and just one small step away from full uncirculated status. $1850.

1831 Bust Dime. Fine.  Counterstamped [uncertified].
As popular as the bust dime series is with collectors these days, what seems to be even more popular are those that sport counterstamps. This one says (or seems to say) EXTRA, but nearly all of the “A” is off the planchet. Attractive and crusty gray toning. $350.

1846-O Seated Dollar With Counterstamp. Very Fine [uncertified].
 Fantasy countermark, with a script FR VII for Frederik VII of Denmark on a US 1846 Seated Dollar. The FR VII countermarks on various coins of the world are believed to be fantasies produced in Paris at some time after 1860, as they appeared in coin auctions shortly afterward. There are no confirmed originals for these types. Still avidly collected when they show up. $495.

Ca.1630 KING RICHARD ll SILVER MEDALET/COUNTER BY SIMON DE PASSE
Silver medelet in imitation of engraving. This item has been in an extensive collection of tokens & medals formed in England over the past half century. The collector who formed it told me it was his single favorite item in the collection. $395

1913-A Prussia 3 Marks. PCGS graded MS62.
I’ll be honest – I bought this coin primarily for its crazy-go-nuts toning. More attractive even than the PCGS TrueView images would have you believe. $250.

1933 General Motors 25th Anniversary Medal.- NGC-61.
A huge 76 mm (3 inch) diameter medal, struck in bronze and silver plated. Very popular due to the classic art deco design and the fame of the designer – Norman Bel Geddes. Bel Geddes was the designer of the Original 1939 “Futurama”. No no no, not the animated TV show, but the exhibition. If you own a car, or if you have ever ridden in a car, you need to own this medal. $1175.

1978 Canada One Cent, Elizabeth II, deep reverse die cap error, Red & Brown Uncirculated [uncertified].
Holy moley is this thing cool!  Sorry for my sudden display of enthusiasm, but it is true. This coin tells a story – a story of a wayward planchet that deformed greatly and then somehow got past the legendary Canadian mint quality assurance personnel. If this was on a US coin it would sell for multiples of this price. If the next owner wants me to have it slabbed by either PCGS or NGC, I will do so at my cost. But quite honestly – it is quite fun to examine it “in the raw”. $895.
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Making The Grade #35: New Coin Arrivals; Plus - Getting My Teenager Interested in History & Coins

5/29/2017

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As the father of 2 teenagers, I have tried for years to get either or both interested in history in general, and in coins in particular.  Until now I have nothing to show for it.

My son (now 16) is a particularly tough nut to crack when it comes to being interested in the past. He once told me that any song more than a few months old is not worth listening to.  Clearly I have my work cut out for me.

So I perked up when he said: "Dad -- I'd like to learn more about the past.  Can you help teach me?"

I was stunned and delighted.

It took a while, but my years of planting those seeds of curiosity were about to pay off big time. 

I'm thinking: Father of the Year?  Well, I won't rule it out ...

I said, "Heh heh.  Sure, son.  What would you like to know?"

My son:  "I don't get all of the joke references in [the animated TV series] Family Guy.  For instance: who are Thelma & Louise?"

My ego deflated as quickly as my chest had puffed up.  But I must tell you - those 10 seconds when I thought he was becoming a serious student of history were amazing.  What a rush!​

My son might be a lost cause when it comes to interest in history & numismatics, but I am happy to say I run into plenty of serious teenagers and young adults who do have those interests. It seems to me that there are fewer young people casually interested in coins these days. But there are just about as many seriously interested as there always was.

Our hobby is tailor made for the internet. Coins are easy to photograph, study and ship safely through the mail. There is an endless explosion of new information out there, and you no longer need a $20,000 library to access it. And because there is now so much raw data out there from newspapers and old books as we digitize all of human knowledge, there are more discoveries being made and yet to come.
​
My son doesn't know what he is missing.
The “Making the Grade” Featured Coin
1861 Clark, Gruber Quarter Eagle. NGC graded AU58 CAC.
​A scarce and historic territorial gold coin, right on the cusp of mint state. $14,500.
New Listings ​
1652 Pine Tree Sixpence. PCGS graded AU50.
Colorful and nearly unworn. The date side is perfectly centered, while the tree side has some lettering off the flan, as is the norm for these. $7600.

1766 Pitt Halfpenny. PCGS graded AU53.
Repatriated by me from the Great White North (a.k.a. Canada), where it resided for much of its life. The coin sports a perfect milk chocolate brown patina. It's delicious, and so good for you too. $3350.

1811 Half Cent. PCGS graded VF20.
A pleasing, problem free example of this key date. $1950.

1887 Indian Cent. NGC graded Proof 65+.CAC.
A blue and flesh-red color, with hard mirrors and contrasting devices. $695. 

1910-S Lincoln Cent PCGS graded MS65 RB CAC. 
One of the semi-key dates in the Lincoln cent series, this coin is spot free, well struck and retains a large amount of original mint red. Advantageously priced too. $395.

1822 Bust Dime. NGC graded MS64 Proof Like.
A magnificent example of this key date. Easily one of the finest in existence. $37,500.

1875-S Twenty Cents. NGC graded MS66.
Concentric rings of vibrant color. Possibly the most beautiful coin on this list, and that says something. $11,500.

1831 Bust Quarter. NGC graded MS63 [fatty holder].
A very pretty, original coin graded during the first few months of NGC’s operations, perhaps in 1988. $3500.

1832 Bust Quarter. PCGS graded MS63, CAC.
Satiny luster under dusky rose toning. $4500.

1812 Bust half Dollar. PCGS graded MS61.
Light satiny gray luster. A good looking early date coin that I would personally grade AU58 due to the touch of friction on the top of the cheek and bust. Ironically, attractive AU58 bust halves often sell for more than MS61’s these days. $2550.

1822 Bust Half Dollar. PCGS graded AU55.
O-112, considered to be rarity-4. About 40% of the original cartwheel luster remains on this high grade specimen. Not too many specimens of this variety are any finer. $2100.

1824 Bust Half Dollar. PCGS graded MS64.
Gorgeous original toning. If you were looking for a great bust half for your wildly toned US type set, your search has ended. $5600.

1827 Bust half Dollar. PCGS graded VF35.
O-124a, considered to be rarity-5. Dusky gray toning, with light gray on the rubbed portions of the design. Many Capped Bust specialists collect 1827 halves by variety, and O-124a is one of the stoppers. $2200.

1827 Bust Half Dollar. PCGS graded VF25.
O-144, considered to be High Rarity-5. This coin has an attractive “circ-cam” look to it, with even a touch of luster showing around the stars. An important opportunity. $1075.

1830 Bust Half Dollar. PCGS graded MS63.
Rolling cartwheel luster under light gold toning, with hints of blue. $1950.

1833 Bust Half Dollar. PCGS graded AU58.
O-106. A handsome coin with strong cartwheel under golden toning. $850.

1836 Bust Half Dollar. Lettered Edge. PCGS graded AU58. CAC.
Pearly white with booming cartwheel luster. So close to mint state you might burst into tears. $1750.

1836 Reeded Edge Half Dollar. PCGS graded XF45.
An even light gray in color with hints of luster around the stars and letters. Always in heated demand due to the reported 1200 coin mintage (which is undoubtedly too low, but it Is still quite scarce). $4500.

1870-CC Seated Dollar. PCGS graded AU50.
The first year of Carson City dollars, and one of the keys to the series. This one is crusty and original. $5600.

1888-O Morgan Dollar. PCGS graded MS66.
Gorgeous green, gold and russet two sided toner, and a better date too. A great value. $2350.
​
World Coins, Exonumia, Flotsam & Jetsam
​
1752-Mo Mexico Half Real. NGC graded MS65.
Mexico City mint. Pillar style half reales in full gem condition are rare. This somewhat prooflike example has light toning on the reverse and is medallic in appearance. $2400.

1803 Half Eagle Size Kettle Token. PCGS graded VF35.
Looks remarkably like what it was designed to imitate: a genuine US $5 gold piece. These were manufactured in Birmingham, England for use as gaming tokens. They are often collected by US numismatists due to their similarity to US $5 gold pieces. I suspect that more than a few were passed as genuine US gold coins over the years. This specimen has an especially good look to it, with much of the gilding remaining. When you see it in it's PCGS slab, you will likely do a double-take. To make it even more convincing to the unwary of long ago, the “Kettle” signature under Ms. Liberty's bust has nearly faded away from the dies. This item is accompanied by PCGS TrueView images. $495.

(ca. 1815?) Caracas Macuquina-style One Real "781", PCGS graded Fine-12.
C12. cob-style silver 1 real "781". A very rare coin, and one that is almost never offered for sale. The most recent auction record I could find was an uncertified specimen in the Heritage April 2011 sale, lot # 26132. I quote from that catalog: “This ‘fantasy’ date was likely produced immediately prior to the standard round type of 1817-1821. What is exciting to the specialist is that the design elements seem to have been carefully located, relative to the times, upon first glance. However, upon close inspection it becomes clear that the lion and castles are randomly rotated, the L-M at the end of the cross is irregular and part of a date (?) is below (or above, as you wish) the cross ! Careless work, or just a die sinker who was not aware of the significance of the component elements.” That coin, described as very fine but not far from the detail on this coin, realized $5462 in that sale. $3500.

1795 Anti-Slavery Conder Token Farthing. NGC graded MS62 Brown.
Middlesex-Spence D&H-1118. A heartbreaking rendition of a man in chains, on his knees. The English were decades ahead of the Americans in abolishing the slave trade, though both countries profited mightily from the “peculiar institution” in the meantime. This example is an even light brown and very reasonably priced. $650.

1800-NG Guatemala Two Reales. NGC graded MS62.
Fully uncirculated and somewhat prooflike. This would make a great go-with piece for the collector of early US quarters, since these 2 reales were much more likely to be in the pockets of residents of early America than were the infrequently seen US quarter dollars. $950.


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Making the Grade #34:  Enduring Mysteries in the US Coin Series. Plus – My New Purchases

3/22/2017

1 Comment

 
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In this issue of the e-newsletter you will find two coins. One held it's secrets for over 100 years. Yet another that still puzzles us after 150 years. Oh, and there are other coins for sale below too...

A Numismatic Mystery that Baffles Even Smart People
The coin I am referring to is the coin illustrated above. It is the 1815 bust quarter with an “E” carefully punched above the head of Ms. Liberty.​

A number of bust quarters – all dated either 1815 or 1825 – are known with either an “E” or an “L” stamped above the head on the obverse. These have been known to numismatists since the early 1880's. Most are in very high grade, as is the one offered herein.

Personally, the theory I like best for why they exist is that they were used in some fashion by the Harmony Society, a cult formed in the early 1800's Pennsylvania. This cult, and the hoard of coins that its followers piled up in the 1820's and 1830's (known to us as the Economite hoard) is discussed at length by Dave Bowers' in his superb book on Coin Treasures and Hoards. This hoard was enormous, with over $75,000 in FACE VALUE of US gold and silver coins dated from 1794 to 1836. That includes over 111,000 half dollars alone.

Here is a brief summary of the Economite hoard written by Mike Sherman by Mike Sherman of PCGS on their site:
Summary of Economite Hoard
There is also an excellent discussion of all of the theories on why these counterstamped quarters exist by Steve Tomkins in his book on bust quarters.

Maybe you will be the one to solve this numismatic mystery once and for all. 

Another Coin Mystery – This One Has Been Solved
Elsewhere in this newsletter is a coin that hearkens back to a mystery of a different sort. 

The unique “original, genuine” example of the Good Samaritan Shilling, was and is still housed in the British Museum. This coin was called, “one of the most famous numismatic forgeries of all time,” by the aforementioned Mr. Bowers. 
The Good Samaritan shilling was listed as a genuine US Colonial issue in the Redbook up until the late 1950's.

This mystery was solved by that young buck (at the time) - noted numismatist and current elder statesman Eric Newman. He wrote a treatise on it, called, The Secret of the Good Samaritan Shilling.

The British Museum piece was exposed by Mr. Newman as an alteration of a genuine Pine Tree Shilling. The piece offered in my list below is a concoction made in the mid-1800's to satisfy demand from the collectors of the day for this issue.

Now let's move on to the new arrivals.
The “Making the Grade” Featured Coin

1858 Flying Eagle Cent. PCGS graded Proof 64 CAC.
Small Letters. Salmon pink toning over reflective fields and contrasting devices. $12,750.
Not for nuttin' (as TV mobsters often say) but I learned something just recently about flying eagle cents. Dave Lange of NGC wrote an article published in this month's Numismatist magazine. He explained that in 1857 the law was passed decreeing that foreign coins could no longer be used in commerce in the US. Citizens could exchange their 2 reales coins (in wide circulation throughout the US at that time) for twenty cents in silver coins at the mint. However, if you wanted to exchange for the new flying eagle cents, they would give you twenty five of them. As you can imagine, most folks chose the latter, and that forced huge numbers of these coins into circulation immediately.

New Listings 

1652 Oak Tree Shilling. PCGS graded XF45.
The famous “Spiny Tree” variety, considered to be Rarity-4. Noe-14 die variety, Salmon 11a-Gi and considered to be rarity 4. The tree on this variety is seen by some as more like a cactus than a tree native to New England, but no matter. It is a popular variant for those collectors looking to include the major varieties. Found on page 41 of the 2017 Redbook. $8850.

1912 Liberty Nickel. PCGS graded Proof-63 CAC.
Russet, gold and green toning over hard mirrors. Liberty nickels are very tough to find beautifully toned, and usually carry significant premiums. A PCGS TrueView image accompanies this coin. $375.

1815 25c with Mysterious (and Scary) “E” Counterstamp. NGC graded AU50.
B-1. OK, it isn't scary, but it really is mysterious. See the article above for details (you know – the one that you scrolled past to get to these new purchases). Another mystery is why PCGS does not currently slab these enigmatic coins, though they now slab all manner of similar tokens and medals. $2775.

1864-S Liberty Eagle. PCGS Graded Fine Details, Cleaned.
I normally do not put coins that aren't “straight graded” on my lists, but I made an exception here. This coin is rare by any standard, with perhaps 25 coins known in all. I've been buying and selling coins since the late 1970's, and this is the first time I've handled an 1864-S $10.
This is often the very last coin found when assembling a set of $10 Liberty's.  It is second in rarity only to the 1875, but for some reason this date shows up even less often. PCGS # 8640.  $46,500.


World Coins, Exonumia, Flotsam & Jetsam

(“1652”) Good Samaritan Shilling. Wyatt Copy. PCGS graded MS63.
Silver. Listed in Dave Bowers' Encyclopedia of Colonial And Early American Coins as W-14092. This is the version with the Oak tree on the reverse.
The obverse features the Good Samaritan of Biblical times aiding the beggar by the wayside. The reverse shows an excellent rendition of the Oak Tree Shilling. Bowers' Colonial Coin Encyclopedia lists this issue as 3 or 4 known. There may be a few more around than that, but it is undoubtedly quite rare. A PCGS MS62 example sold last year at auction for $3525. This coin is ex. Stacks 5/1998:47; the auction tag is included. PCGS # 534632.   $3350.

“1781” Libertas Americana Electrotype. Uncirculated [uncertified].
I have handled several nice Libertas Americana medal electrotypes over the years. But this one is simply without peer. Magnificent milk chocolate brown color, and as choice as an electrotype copy can be found. You will not be disappointed. $775.

“1794” Flowing Hair Silver Dollar. Altered from a Genuine 1795 Dollar. Very Fine [uncertified]
If you thought the genuine 1794 dollar I have on my website is a steal at $229,500, you will go crazy with happiness at the price of this … well … genuine-challenged version. Someone – presumably a very long time ago – altered the date of this quite attractive 1795 Flowing Hair dollar so they could have an example of a 1794 in their set. Hey kids – don''t try this with your 1795 dollars at home. $2450.

1803 dated Half Eagle Counter. NGC graded VF20.
Kettle & Sons of Birmingham, England designed these counters in the early 19th century. No doubt a few of them were passed illegally as genuine US $5 gold coins, which these greatly resemble. Interestingly, these imitations were listed in the Judd pattern book (in the appendix) until the 8th edition came out. $250.

“1804” Silver Dollar. Altered from a Genuine Draped Bust, Heraldic Eagle Dollar. Fine [uncertified].
Hard to believe but I have a second genuine-but-altered-date silver dollar for sale. Correct me if I'm wrong, but I believe a genuine example of the 1804 is considered a better date. $1250.

“1861” CSA 1c Restrike 4 Coin Set: in Gold, Platinum, Silver, Copper. NGC graded Gem Proof.
These sets were created in 2011 especially for the Smithsonian Institution and distributed privately to their contributors. Thus these coins simply don't appear at coin shows. The gold, silver and platinum coins are .999 pure. This one comes in a wood and glass display box. $1275.  

1836-1846: Group of Three Excellent Quality Electrotype Copies of Proof-Only Half Cents.  Uncirculated [uncertified].
Really well made copies of the 1836, 1843 and 1846 proof only half cents. Electrotypes of this quality must be very hard to make, as I rarely see them. And believe me – I'm looking. $750.

1849 Half Eagle “California Prospector” Counter. NGC graded AU58.
A popular issue with the obverse imitating an 1849 half eagle and a reverse showing a gold prospector. This is the second one I've come across in the last year or so. A few of these have sold at auction in recent years in the $800 range. They aren’t worth that, but in this high grade they are easily worth … $250.

1859 Large Medal Commemorating Dr. Elisha Kent Kane, Arctic Explorer. NGC graded MS64. .
Silvered White Metal, 50 mm. Engraved by George Lovett. Head resting on tablet depicting ship and a glacier, DR. ELISHA KENT KANE, THE GREAT ARCTIC NAVIGATOR, U.S.N. The reverse depicts a Masonic altar and regalia. This medal is of interest to Naval medal collectors, Masonic medal collectors as well as collectors of Lovett medals. Truth be told though, I purchased it because this particular one is incredibly beautiful. A large size medal that is housed in a larger sized NGC slab. Lots of coolness for $775.
​
1863 3 Cent pattern electrotype Copy. Uncirculated [uncertified].
This decent quality electrotype of a 3 cent pattern employs an obverse die created from the coronet large cent design of 1840-1857. Because of the color I suspect this was meant to imitate the extremely rare Judd-320, of which there are perhaps 4-5 genuine examples known (they were struck in aluminum). $375.

Group of 6 Contemporary Counterfeits dated from 1837 to 1860. Various Grades [uncertified].
Here is a great starter set of contemporary counterfeit coins, in different metals and spanning 4 different denominations. $750.

1882 Hawaii Haiku Plantation Token. PCGS graded AU53.
Metcalf-15. The Haiku Plantation tokens are regarded as the prettiest within the Hawaiian token series. This sugar cane plantation was located on the island of Maui. In this period, several private firms issued tokens for use as money in Hawaiian company stores. The 1 rial denomination was equal to 12 ½ cents, or one day's wages (coincidentally, 12 ½ cents was also about 1 day's wages for most coin dealers in 2016. Our industry goal is to double that this year). Found on page 421 of the 2017 Redbook. $2350.

1900 Lesher Dollar. A.B. Bumstead. PCGS graded AU58.
Type 1, Z-2, HK-788, considered to be rarity-5. A.B. Bumstead #180. Approximately 210 of these medals were originally struck. Joseph Lesher of Victor, Colorado, inspired by William Jennings Bryan's free silver platform, created them. Grocer A.B. Bumstead was an early and leading participant in Lesher's "referendum souvenir" program. He was stopped from issuing any more by the Secret Service in 1901. The detail on this coin is incredible; it is if you are walking around that Colorado town. $4275.

1921 “Transitional” Two Headed Silver Dollar. Uncirculated (uncertified).
And now for something completely different. On offer is this two headed magician's coin, made from two genuine US silver dollars. The weird part of it is that they are of the two different designs made that year. Even weirder is that the 1921 peace dollar they used was a $300 coin before it was altered in this fashion. $85.

1909 Lincoln Centennial Medal. With Original Display Packaging & Ribbon. Uncirculated [uncertified].
Bronze, 25mm. King-389. HK-unlisted. Issued by the City of New York, and designed by Bela Lyon Pratt (who also designed the famed Indian Head gold $2.50 quarter eagles and $5 half eagles the year before). The obverse depicts a bearded bust of Lincoln facing right. On the reverse, in the upper field an eagle with outstretched wings holds an olive branch in his talons. $145.

1914-S Barber Quarter Contemporary Counterfeit. Very Fine [uncertified].
This is the second time I've offered this particular specimen.  It is the only example of this rare issue I have owned. I quote from my own eloquent description: “An absolutely ludicrous looking, crude counterfeit. It is struck in brass, with a silver wash that has mostly worn away. As we say in New England – 'It's friggin' bizzah.'” $250.

1920-M Mexico One Peso. PCGS graded MS64.
KM-455. Gorgeous pastel toning in shades of green, blue and rose gold. One of the key dates in the series. $475.

1922-M Mexico One Peso. PCGS graded MS65.
KM-455. Beautifully toned in gold, light copper and with hints of green. Very difficult to find in this condition. $250.

1943-M Mexico One Peso. PCGS graded MS64.
A common date, but not common at all with vibrant green toning. $150.

1781" (2014) Libertas Americana Medal. Paris Mint Restrike. Silver. 5 ounces. NGC graded Proof- 69 Ultra Cameo. 
A large, impressive, heavy silver medal made in the same mint that made them back in 1783. This specimen is serial number 873 of a maximum mintage of 10,000 pieces. The original box, COA and wooden case are included. Makes a great gift.  Dealers usually want a lot of money for these popular medals, but every once in a while I am able to buy one at a reasonable price, and when I do I pass it along to you. $550.


Coming Soon ...
  • Several Cathedral Medals by Jacques Wiener
  • Scarce and Rare Varieties of Bust Half Dollars
  • Counterstamped 1846 Seated $1
  • More goodies of all types


Contact info to reserve coins:
Website - www.DaveWcoins.com  My email address – davewnuck@gmail.com
Phone - (203) 231-1213   Always Free Shipping. 
Click to See My Coin inventory
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    Dave Wnuck
    Professional Numismatists Guild (PNG) member since 2006.  Member of all major numismatic organizations.  Dave is a contributor to the Redbook, as well as a member of the PCGS Board of Experts.

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