One bought, one sold.

As I wrote in my last journal, I went to the ANA show yesterday. I left home at 6:15, hoping to make the Liberty Seated Collectors Club meeting at 9:00. I got to downtown Philadelphia just after 8. But while looking for cheap parking, I found myself crossing the Ben Franklin bridge into New Jersey. Despite that mistake, I was able to get turned around, parked, and to the meeting with a few minutes to spare.

The meeting had some of the usual content. But it also had an auction of several items of interest to club members, to benefit the club. But this was no dull auction. Free from the restraint required for the big corporate auctions, Brad Karoleff made the experience memorable and fun, and managed to extract more dollars from people's wallets than they actually bid.

Once the meeting was over, I got my badge and went into the show. It seemed similar in size to the typical Baltimore show, but I did get the sense that there were more small, non-regional dealers than Baltimore usually gets. During the day, I was able to give every dealer table a quick look, checkout the exhibits, and go through all the dealers again.

I had stopped to look at about ten half dimes and a few large cents. I also still need an 1890 half dollar in MS64 for my son's set. I have no trouble finding proofs in 66 and 67. I saw four of those in the first half of the bourse. Then I came upon it: a beautiful example in a PCGS MS64+ holder with green CAC sticker. Though not noted as proof-like, this coin could easily be mistaken for a proof. I know from six years of looking, and letting some go as too expensive, that I'd have to pay a lot for it. I was thinking 3K, maybe a little more for this one. Even though that would be almost double the cost of the other five coins in the set, I was going to have to get it. But the asking price was five and a quarter, and I just couldn't do it.

I sat down and looked over the half dime notes I had taken. One of them stood out clearly as the best option. (Notice how getting nothing doesn't seem to be the best option, despite last week's overspending?) When checking it out initially, my first reaction was "Wow, how could the graders have missed that?" But on closer examination, the marks I was seeing were uncommon clash marks.

On seated half dimes, the most common clash marks are on the reverse, inside the wreath, from the area of Miss Liberty's left elbow and the pole. Reverse impressions of the base of the rock, and sometimes parts of the date, are also somewhat common. Once in awhile some others are seen on the reverse, and sometimes clash marks from the wreath are apparent on the obverse. But the marks on this coin go across Liberty's belly and under her left arm. They are impressions from letters of the word DIME. Parts of all four letters are visible, but the M is the most prominent one under her arm.

The coin is an 1860-O, NGC graded MS66 half dime. It has really nice luster and is lightly toned. The dealer (business is called Disruptek) was honest about its past: He told me he bought it in a 65 holder and was fortunate to get an upgrade. His asking price was less than 20% over his costs, not jacked up to a 66-like price. I bought it.

I found an auction record of a coin that appears to be the same one, in a PCGS MS65 slab with CAC sticker. I still need to examine things closely to verify that it is really the same coin. The old photos are a bit dark. In any case, you can see the clash marks pretty well (see below).

One last item: Having gotten an 1890 MS64 nickel, I tried to sell the proof. I decided on an asking price, and offered first to Harry Laibstain. He has almost always been willing to pay my asking prices, and this was no exception. So I was pleased.

Happy Collecting to all!

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