RWB

The 1869 dollar is, I feel, fully worth a premium sum for its actual quality, and might be valued higher than a scruffy UNC. "Lowball" is defined as deliberately denigrating or under grading for personal gain. I'm known for objectivity and describing what I see without financial bias or personal gain. The hope is that you will (if the coin is as photographed) learn. Repeating the earlier comment: "The 1869 dollar is, I feel, fully worth a premium sum for its actual quality, and might be valued higher than a scruffy UNC."

OK. Remember, this conversation when you eventually sell it.

Agreed....and there is no justification for any numismatist to knowingly buy or sell a falsely described coin. The 1869 dollar is, I feel, fully worth a premium sum for its actual quality, and might be valued higher than a scruffy UNC. (By "premium" I mean more than the typical auction results displayed on line.) But if the quality of coins is manipulated by faulty authentication or grading, the result is endemic confusion and falsehood perpetuated by those who are supposed to be trusted independent consistent evaluators.

Nope...at least not by the photo. The disturbance of luster in the field and evident abrasion on Liberty's breasts, legs, etc. are all classic indicators of an AU coin. If the coin were actually uncirculated the grade would be at least MS-63 even with the small facial scars. (A MS-61 coin will have numerous scrapes and contact marks, but undisturbed luster and no circulation abrasion.) The so-called "grading company" lied to the submitter who then passed the lie to another and it eventually made it's way to you. The person/company from whom you bought this excellent AU coin probably did not do the grading....they simply let you assume. Your coin shows the typical overall appearance of an AU coin --- through its lack of marks (very limited circulation, and inconsistent with Uncirculated grade). Many real AU coins are, indeed, superior to Unc coins in all respects except slight abrasion and luster disturbance. (I would much prefer your coin over an UNC 60, 61 or 62 coin in many cases. It is much more attractive and representative of the design and production of 1869.)

Really nice AU coin. Great find!

Anecdotally, many US Mint adjusters could detect over and under weight planchets without use of the balances provided for their use. Check the tolerances for gold and large silver coins.

NGC will grade lots of things, but not your new driveway or building lot.

Cotton flower (center) immature boll (upper left), mature boll (bottom). The coin depicts open cotton bolls. (Weevils are extra.)

The following documents should be posted on NNP by this weekend. E-235-Vol 79 July-Sep 1896 E-235-Vol 83 1897 E-235-Vol 84 1897 E-235-Vol 85 Dec 1897 E-235-Vol 86 Presscopy 1873 Jan-Jun E-235-Vol 88 SF CC 1874 E-235-Vol 91 Misc 1875 E-235 Vol 93 P 1875 E-235 Vol 302 Misc. Part 1 1898 E-235 Vol 309 New Orleans 1899 E-235 Vol 309 San Francisco 1899 The large fair copy journals in Entry 235 (Letters sent) were discontinued at the end of 1897 (Vol 85). Thereafter, presscopy books provide the only currently known source of these materials. To access these and other materials --- Open your browser and enter: https://nnp.wustl.edu/library/archivedetail/512703 This will take you to NARA documents Record Group 104 Entry 235. Click the year as displayed on the list. Some volumes cross annual date changes, so you might have to check a year earlier or a year later. Some documents mentioned in the original post are already available. Others will be added in a few days. (Click "1899" to see the SF and NO documents.) Individual documents are in the exact order as in the original presscopy books. The images are PDFs and you can download pages or the entire volume. If you want more options, click the document title, then press Ctrl-right click to open the file in a new window with many options. Please Note -- None of these documents are available from NARA on-line. NNP continues to digitize original US Mint documents and make then available to collectors and researchers at No Cost. The EPNNES Foundation (tax exempt, non-profit) funds this from assets donated by the late Eric P. Newman. Let me know if you plan to visit a NARA facility. I can probably help you navigate the system and archives.

If you do an internet search you'll find my books and articles listed.

Those are some of the most unnatural coin photos I've seen since I last looked at ebay.... Doesn't PCGS make photos before encapsulation? Here's something a little more realistic..... However, after looking more closely, the coin might be better than my first impression. There's light wear and luster disturbance, yet it might be visually better in-hand. RE: My coin collection. It's almost non-existent. I buy for research, then dispose of when the work is done. Can't afford to hold. A nice Saudi 1-sovereign gold disc has been posted here and on PCGS.

The "coating" will keep FDR warm in winter.... (It's just discoloration - not a variety, error, or even a turnip. Sorry.)

Well, yes, I am stringent about coin grading and do not tolerate grade inflation or calling circulated coins "MS," and so forth. On the OP's coin there is noticeable abrasion on both sides and at a more than "barely noticeable" level (which is the classic definition of AU). The wear is obscured by dark tarnish and remnants of cleaning. (If one copies the OP's photo and manipulates tone and contrast, the wear becomes easier to detect.)

This is an image of a presscopy, not the original letter, hence the fuzzy blue color text and gray signature. In 1898 people wrote with pencils or steel-tipped ink pens, not goose quills. A group of these very thin pages bound together was called a letterbook or letterpress copybook. Here's a brief explanation from the Society of American Archivists: [Yates 1989, p. 26–28.] The first mechanical method of copying to gain widespread use in American business was press copying, first patented by James Watt in 1780 but not widely adopted in business until much later. As the technology came into common use, a screw-powered letter press was used in conjunction with a press book, a bound volume of blank, tissue paper pages. A letter freshly written in special copying ink was placed on a dampened page while the rest of the pages were protected by oilcloths. The book was then closed and the mechanical press screwed down tightly. The pressure and moisture caused an impression of the letter to be retained on the underside of the tissue sheet. This impression could then be read through the top of the thin paper. These letter presses were used by some individuals and businessmen in the first half of the nineteenth century, but they only came into general use in the second half of the century. A letter press reduced the labor cost, both by decreasing copying time and by allowing an office boy to do the copying once performed by a more expensive clerk. As the same time, it eliminated the danger of miscopying. Copies were now facsimiles of the letter sent, down to the signature. Most letterpress copybooks used a chemical process similar to blueprinting. Copy quality varied from barely readable to very good (as in the above example). Much depended on use of special copying ink and how the thin paper was dampened.

"NNC" seems to stand for "Not Nearly Certifiable."

It's EF, and resembles coins that have been in a fire or lived in West Virginia coal country too long. I agree with the others about its lack of desirability. Why spend $700+ for a coin you don't seem to like?

Not quite. June 1894 was in both calendar and fiscal year 1894. FY 1895 began July 1, 1894. The year "1893" was already over. Coinage was reported monthly so the data could be used for either FY or CY. Annual reports were the most common source, as were newspapers - many in larger cities printed regular US Mint coinage reports. Official journals aggregate mintage for both types of years.

The usual process was not to coin gold and silver at the same time, but if necessary they could do this. Minor coins were struck "in the cracks" between the "real" money.

Any thoughts? [RG104 E-235 Vol 302 1898 Misc.]

In any normal calendar year, dimes would have been made in large quantities for circulation. But in 1894 where was an excess of dimes on the West coast, so none were ordered by the US Treasurer. The Treasury was on a strict Fiscal Year base while the mints operated on both Fiscal and Calendar years. When people asked how many such-and-such coins were struck in year YYYY, they were as likely to be told FY as CY quantities and from all mints combined.

I agree with Sandon. The idea of "balancing the books" is pure bunk. The Coiner routinely carried silver - struck or not - across June 30 settlement. It was up to the Coiner to decide when something became a coin, and the Superintendent then had to accept the legal tender. On the VIP suggestion - there weren't any running around the SF Mint and no reason for anyone to be celebration of commemorating or any-other-'ating'.

Kevin Flynn prepared a factual and organized book about this coin and I recommend it to anyone who wants reality and not "fluff."

I will. You've made a considerable investment in obtaining the copies, so they will not go to anyone without your written approval. While the originals are public domain, the copies were made for hire for your personal use so they are private research materials.

Part 3 was deleted. Waiting for the last one. Don't know why you got that message. Sample page sent to you. Proof coins downloaded and checked. Download was 1.2 seconds.

I will add headers showing the NARA location and add them to my database for future reference. I occasionally help NARA answer questions, so this is just another source of document-level material. Also, whenever you give the OK, I can add them to the Newman Numismatic Portal; however, in respecting your personal investment and research plans, I will not give documents to anyone. Rather, I will refer potential; users to the NARA source so they can do as you did. This is not usual in that an author is not expected to pay for research then give it away. New Coinage System-2 downloaded. Checked and complete. New Coinage System-3 downloaded. Checked and complete.