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Electric Peak

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Journal Entries posted by Electric Peak

  1. Electric Peak
    Stack's Bowers conducted the auctions associated with the recent Baltimore show, including internet-only sessions after the show. I won three lots (six coins) from one of those internet-only sessions. One lot was a decent circulated 1844-O placeholder for my collection of half dimes. A second lot consisted of four half dimes, the first of which was the one I wanted - an AU 1842 with reverse die cracks. I will probably write something about those two lots in future journals.
    The topic for now is the third lot I won. It is an 1848 "medium date" half dime. What caught my eye is that the date is noticeably farther to the right than on other 1848 half dimes. I looked for info, but neither Valentine (1931) nor Blythe (1992) mention it. The newer book by Bowers (2016) says only a few examples are known. The variety is discussed in a couple short Gobrecht Journal articles from 1993, where discovery credit is given to Neil (1927).
    I was not specifically aware of the "date far right" variety of 1848 half dimes when I first saw the photo of my new coin. But I have been looking carefully at Liberty Seated half dimes for some time now. And when something catches my attention, I check it out. In this case, I noticed what appears still to be a rare variety.
    The auction session occurred when I was on vacation several time zones west. Before the trip, I wasn't sure I'd be able to bid live, so I entered an absentee bid. Because the coin is a rare variety in a series that is not (yet) especially popular, I had no idea what to expect to have to pay to get it. The coin is in a PCGS AU53 holder. I bid about four times the FMV for a garden variety 1848 half dime. While on vacation, I received email notification that I had won it - for garden variety price! Apparently no one else noticed or cared that it was an unusual variety.
    So this is another case of finding something interesting and rare for regular price. More such things are certainly out there. If you learn about the things you collect and have the time to look, you can find things like this too. It has been a lot of fun for me...
     
    Alan


  2. Electric Peak
    I should have noticed this before...
    When I started collecting half dimes several years ago, I was still working primarily on my large cent set. My idea with the half dimes was to start with the collector era proofs, 1858-1873. But I ended up getting hooked on the larger, business strike set of Liberty Seated Half Dimes, and only infrequently added to the set of proofs.
    Late last year, however, I did make one of those proof additions. It is a nice 1863 PR 66 Cameo, certified by PCGS - one of the last I got into the NGC registry. But there was something about it that I missed until just recently. My last two journals were about taking new pictures of my coins. The proof half dimes just had their turn. When examining the photos, I noticed something peculiar.
    Some background: Starting in 1871, a defect appears on half dimes: The top of the D in UNITED is broken. According to Valentine, this occurs in all but one variety of 1871 (P), and all Philadelphia and San Francisco half dimes of 1872 and 1873. So the D must have become defective in the hub, but only after at least one 1871 (P) and the 1871-S obverse dies were made.
    My 1863 proof half dime has the defective D. Judd lists patterns dated 1863 and 1864 that were probably struck in the early 1870s, consistent with use of the hub with the broken D. For 1863, only copper and aluminum patterns are listed, though Breen wrote that one silver example had been seen. My coin looks silver to me. I'll be having some more expert folks look at it in the near future.
    On the one hand, I'm a little embarrassed that I did not notice the broken D earlier, or, if I did, that I did not note that it "should not" be on a 1863 half dime. On the other hand, I am disappointed in PCGS (in this case) for missing it too. They are supposed to be experts, after all. (The certification is for a garden variety 1863 proof.) Either way, I am very happy to have a rare item!
    Alan 

  3. Electric Peak
    I should have noticed this before...
    When I started collecting half dimes several years ago, I was still working primarily on my large cent set. My idea with the half dimes was to start with the collector era proofs, 1858-1873. But I ended up getting hooked on the larger, business strike set of Liberty Seated Half Dimes, and only infrequently added to the set of proofs.
    Late last year, however, I did make one of those proof additions. It is a nice 1863 PR 66 Cameo, certified by PCGS - one of the last I got into the NGC registry. But there was something about it that I missed until just recently. My last two journals were about taking new pictures of my coins. The proof half dimes just had their turn. When examining the photos, I noticed something peculiar.
    Some background: Starting in 1871, a defect appears on half dimes: The top of the D in UNITED is broken. According to Valentine, this occurs in all but one variety of 1871 (P), and all Philadelphia and San Francisco half dimes of 1872 and 1873. So the D must have become defective in the hub, but only after at least one 1871 (P) and the 1871-S obverse dies were made.
    My 1863 proof half dime has the defective D. Judd lists patterns dated 1863 and 1864 that were probably struck in the early 1870s, consistent with use of the hub with the broken D. For 1863, only copper and aluminum patterns are listed, though Breen wrote that one silver example had been seen. My coin looks silver to me. I'll be having some more expert folks look at it in the near future.
    On the one hand, I'm a little embarrassed that I did not notice the broken D earlier, or, if I did, that I did not note that it "should not" be on a 1863 half dime. On the other hand, I am disappointed in PCGS (in this case) for missing it too. They are supposed to be experts, after all. (The certification is for a garden variety 1863 proof.) Either way, I am very happy to have a rare item!
    Alan

  4. Electric Peak
    In response to a request...
    I received a PM from a reader asking for details of my coin photography setup. I figured I might as well answer for everyone to see. (See photo below)
    Please keep in mind that I am not a photography expert, and welcome suggestions!
    Camera: Nikon D5500
    Lens: AF-S Nikkor 18-55 mm, set at 55 mm
    Aperture: f/11
    Shutter Speed: 1/10 sec
    Light: OttLite w/ OttLite 508 HD bulb
    Structure: Home-made!
    The camera is held firm to the 1x3 board with a bolt into its tripod mount hole. The thin narrow piece of wood is glued to the 1x3, and serves as a rail for the block with black-painted front. There is another small piece of wood screwed to the underside at the camera end to provide some tilt, so slabs can rest against the black block without tipping.
    I use the camera's live mode and touch screen to take the shots. That reduces the risk of moving the camera or setup when the pictures are being taken. Even small motions can ruin the photos with the 1/10 sec exposures.
    Auto-focus seems to work just fine for this purpose at the settings above. But I had trouble getting good focus with larger apertures.
    Alan

  5. Electric Peak
    I'm finally getting some time to do this.
    It seems to me that people participate in the registry for a number of different reasons. For me, it is a place to catalog my collection (although the recent policy change regarding PCGS certified coins changes that a bit), to share it with other participants, to see what the rest of you are doing, and to learn something about coins in general since I do not have the time to study them all.
    Part of the cataloging and sharing is providing photographs of the coins. Up to now, most of the photos are those provided by the auction houses and dealers from whom I bought the coins, with a few lower quality shots of my own when there were no source pix (as for some coins bought at coin shows).
    A year or so ago I bought a new camera, primarily for taking vacation pictures. But I recently brought my half dimes home for a photo shoot. I found a setup that I think for the most part pretty accurately portrays what they look like in-hand. I used the same camera settings and lighting for every shot, not attempting to over-expose the more deeply toned coins as the auction companies & dealers sometimes do. I cropped and scaled each photo to 600x600 pixels for uniformity of display.
    In any case, I have updated the photos in my primary Liberty Seated Half Dime set. I will continue processing remaining photos and will post them in my other half dime sets as time permits. When that is all done, my other certified coins will get the same treatment. I am hopeful that the color will be realistic for the large cents when their time comes.
    Here is one of my favorite new shots. Enjoy.
    Alan

  6. Electric Peak
    Having fun examining things closely...
    Another coin I got from the Heritage auctions associated with the recent FUN show is an 1871 proof half dime. I already had one graded PF 64 Cameo, and wanted to upgrade to this new PF 66 Cameo. But there is a difference more important to me than the TPG grade.
    The Redbook and other references say that 960 1871 proof half dimes were struck. In his book on Liberty Seated Half Dimes, Al Blythe stated that many of them were melted in July 1873, a few months after the denomination had been discontinued. In the era of proof production for collectors, from 1858 on, references indicate that one die pair was used for proofs in 11 of the years (including 1871), and that two proof varieties exist for the other five years.
    My two 1871 proofs were not made from the same obverse die. In the images below, you can see that the date is farther to the left in the right-hand image. When I reported this on the Liberty Seated Collectors Club chat boards, one of the other members took it upon himself to examine about fifteen other recently sold 1871 proof half dimes in the Heritage archives. All of them match the coin on the left below, except for my new one on the right.
    Although fifteen coins is not the entire sample of extant 1871 proof half dimes, for the time being, I think it is pretty cool to own the only currently known example of this new proof variety. Unfortunately, half dimes are not popular enough for this to be especially valuable. But I plan to hold on to it for a long time regardless.
    I hope all of you have as much fun with our hobby as I do...
    Alan

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  7. Electric Peak
    It had to happen sooner or later.
    One of the other coins I "won" in the Heritage FUN auctions was an addition to my set of proof Liberty Seated Half Dimes, 1858-1873. It fills the 1859 slot in my collection, but not in the NGC Registry. It is graded PR64CAM by PCGS, and is therefore not eligible. It also has a green CAC sticker.
    This is my first higher dollar purchase that will not be in the registry. I have not been in the PCGS Registry, and have no plans to get involved with that. Why would I, with a mixed NGC and PCGS collection, decide to start up in a place that will not accept a majority of my coins? (And a related hint to NGC: Don't expect as many new registry members as you were getting prior to the decision to exclude PCGS-graded coins.)
    I will, however, continue to participate in the NGC Registry. But I will not cross my PCGS coins. Even at a discounted price, it seems foolish to me to spend money to switch from one company to the other. I collect coins, not holders or special inserts. I won't care if there is a lack of slab uniformity if I ever display or sell my collection. (That said, I have paid to "upgrade" a number of old, beaten-up NGC slabs to newer scratch-resistant edge-view holders for a number of my smaller coins. I wanted to be able to see and photograph them better.)
    In any case, the new addition to my set of proofs is the first in quite a while. Because there are only a few, hard to locate coins left to complete my main set of business strike Liberty Seated Half Dimes, I probably will try to finish off the collector era proofs in the near future. My goal for that set is cameo designated coins, graded 64 or better.
    Alan

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  8. Electric Peak
    Addition to Type Collection...
    I had been full of anticipation heading into Heritage's auction sessions associated with the FUN show. I was fully expecting to add another ex-Gardner half dime to my collection. Alas, someone else wanted it more...
    Not to worry, though. I had other coins in mind. In addition to the series set building that has been my primary numismatic activity, I occasionally add to my type collection. In this case, it wasn't one of those pesky little half dimes. It's a whole dime!
    When I was in high school, my collection started expanding beyond Lincoln Cents. In addition to learning to love the early copper, I assembled a complete set of uncirculated Roosevelt silver dimes that still resides in a nice plastic holder, and I dabbled in Morgan Dollars, Washington Quarters, Mercury Dimes, Buffalo Nickels, Indian Cents, and Barber Dimes.
    The new type coin is now my best example of that last series. It's an 1892 dime. Being in an NGC holder, it even found its way into my registry type sets. It's graded MS 66, with green CAC sticker.
    It's odd though. I really like the Barber Dimes, but simply cannot get excited about the quarters and half dollars. I'm not sure why. In any event, my new dime is pictured below.
    Alan

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  9. Electric Peak
    In the spare penny tray
    One of the secondary collecting goals that I've had, but never put any effort (i.e., $$$) into, is every year to add a 100 year old coin and a 200 year old coin to my collection. The higher priority goals simply took all the money, and I haven't had the time to search for and research those "century" coins.
    This past Saturday my wife and I made our annual trip to visit my mother at Christmas-time, in Bethlehem, PA. The tradition is for us to chat for awhile and take her out to a local restaurant for dinner. This year's eatery had us paying the bill at a counter by the door. While standing there, I noticed the extra penny tray. I collect coins, after all.
    One of the cents caught my eye. It wasn't flashy like most of the others. It was brown, but with a bright border. I picked it up to look at it, and saw that it was a wheatie. But because I can't see well up close with my contact lenses, I could not read the date or be certain if there was a mint mark or not. I asked if I could take it, was told "yes", and put it in my pocket.
    Later that night, I traded contacts for glasses, took the coin out of my pocket, and examined it. All of the wheaties I've found in recent years have been from the 40s and 50s. But this one was older. The date is 1916, and I could see a mint mark. Taking off the glasses for a good close-up view, I saw a tiny S.
    That had me mildly excited. I have my childhood Lincoln Cent collection in a pair of Whitman albums. I shouldn't call it my childhood collection though, because I have improved only two of them during my adult collecting. There is a decent 1916-S in the first album. (Only the 09-S VDB, 09-S, 14-D, 22 no D, and 31-S are missing).
    But I also had a Whitman folder for my second bests. I knew that it was far less complete. Sure enough, the 1916-S hole was empty. So my new find has a new place of honor. Well, it's a better place than the coffee can that holds all my other extra wheaties.
    It isn't exactly 100 years old, but close. And it was a pleasant little experience to start the new year. The bigger numismatic experience so far was getting four half dimes and a dime in Heritage's FUN Show auctions. More on them later.
    I hope you all had a great Christmas holiday season, and wish you all the best in the coming year. Oh yes, and Congratulations to all the Registry Award winners. Well done!
    Alan
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  10. Electric Peak
    Pretty cool.
    Because it has been getting harder to find nice examples of the few coins I still need to finish my primary set of Liberty Seated Half Dimes, I have started collecting interesting varieties. This has been an enjoyable addition to my collecting habit.
    Part of this new pursuit is simply gathering information on the varieties. As part of that effort I have been reading "A Guide Book of Liberty Seated Silver Coins" by Q. David Bowers. While on the 1840-O No Drapery entry, I was oddly struck with a sense of familiarity when I looked at the photos. I quickly got into my registry set photos to compare. Sure enough, it is my coin that is pictured in the book!
    Having found that, of course I had to check them all. In the end, I found a total of six matches, five in my primary set (1839, 1840-O No Drapery, 1841, 1859 [detail photo], and 1862), and one in my second set (1844).
    In four of the cases, the photos in the book are the same as ones I downloaded from auction websites when I got those coins. But the photos for the other two were different. For one of those, I had only my own not-so-great pictures. But I found both in the Stack's Bowers (not where I bought them) archive, and saved those photos.
    So now I have a little more of the transaction history of two of my coins. In one case (the 1844), the CAC sticker was added after the Stack's Bowers sale and before the Heritage sale when I got it. In the other case (the 1862), the holder changed, having been an ANACS MS67 slab in the Stack's Bowers sale, and an NGC MS67 holder, with CAC sticker, when I got it from a dealer at a Baltimore show.
    My wife thinks I'm nuts for tracking down all of this information. She thinks I'm nuts for collecting these things that all look the same... But I enjoy it, and I hope you all continue to enjoy our hobby in whatever way you do it.
    Merry Christmas to all!
    Alan

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  11. Electric Peak
    ...and I didn't pay it.
    As some readers know, I am nearing completion of my main business strike Liberty Seated half dime date and mint set. Of the seventy coins in the Registry set, I still need five, and may upgrade a few others. One of the holes is for the 1865-S. One of the Gardner examples was auctioned by Heritage yesterday.
    In the Gardner sale just over two years ago, this coin sold for $4406.26 as an NGC MS65 with green CAC sticker. Since then, it got a change of clothes, crossing the block yesterday as PCGS MS65 with CAC endorsement. It sold for $7637.50, making tidy profits for Heritage and the seller.
    So I go back to a theme about which I have written previously: Is this increase due to the PCGS registry accepting only PCGS coins? In this case, the answer must be a definite maybe. I was the underbidder. In the live session, it started under $5000 (including BP). Had I not bid at all, it may have sold for little more than it did two years ago. Had my last bid won, it would still have been a big increase in price for a coin that would not have gone into the PCGS registry. (I'm only in the NGC registry.) Nevertheless, someone was willing to bid more than I was. I may check to see if it appears in the PCGS registry, and report back.
    Alan
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  12. Electric Peak
    Another unattributed 1838 Small Stars Half Dime
    In a Heritage session a couple days ago, there was an MS66 1838 half dime that caught my eye. Even on such a small coin, it is a naked eye variety: the Valentine-1, Small Stars die marriage. Even the earliest known state of the obverse die shows obvious evidence of die rust, most notably on Miss Liberty's left arm (holding the pole), by which the die can be identified uniquely. But being in an early state of the die, the stars are not yet significantly reduced in size. As such, PCGS does not designate it as Small Stars. But the holder insert of this coin specifically says "Lg Stars". Should that be considered a mistake?
    I think that if any star size is specified for this obverse die, it should say Small Stars and a "die stage" as commonly used by specialists. That way, it is clear what the coin really is. Or it could at least say it is a V-1 (for the early and middle die stages) or V-2 (for the late stage(s), paired with a different reverse die). I think it would be better for the label to be silent about the stars than to say this is a large stars variety. (And when the TPGs do say Small Stars (or any other designation for any coin), they should get it right. I have seen a number of Small Stars designations that are incorrect.)
    In any case, to my sensibilities the price on the coin in question was right, and I bought it. The obverse photo is below.
    I will be at the Baltimore show, but I am not sure exactly when yet. A work meeting may cause me to shuffle my Thursday and Friday afternoon plans. Either way, I have my eyes on a few more half dimes...
    Alan

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  13. Electric Peak

    Gardner #13

    By Electric Peak,

    Or is it Shattered - Part 8 ?
    About that potential upgrade to the 1855 half dime featured in my "Shattered - Part 7" posts... Back in August, Heritage had an NGC MS66 up for auction. I peeked at it in the fourth session of the Gardner sale last year, but passed in favor of higher priority items. At that time it was in a different NGC holder, graded MS65, with a green CAC sticker. This is one of several ex-Gardner half dimes that have reappeared, upgraded, since the Gardner sales.
    In the more recent offering, I looked more closely and noted that it is also a V-4, with the crack across the reverse, but in the earlier state without all the additional drama. It is a better coin than the one I already had, and would make a nice, different-die-state companion to it. I decided to get it if the price stayed close to the prior result. It did.
    The Heritage photo of the reverse is shown below. Compare with the photo in my Shattered - Part 7 post (http://coins.www.collectors-society.com/JournalDetail.aspx?JournalEntryID=17672). See if you agree with my assessment of the order of the die states.
    With this coin, I now am fortunate to own 13 of the business strike Liberty Seated half dimes from the Gardner collection.
    Alan

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  14. Electric Peak
    1855 V-4
    As promised in Part 6, this post is not about an 1843 or 1847 shattered reverse half dime die. As mentioned in Part 3, I acquired an 1855 half dime in Baltimore almost a year ago.
    I had been finding it difficult to find a nice 1855 in my target grade, MS66, for any price. So when a MS65 example appeared in the Stack's-Bowers auction at the November 2015 show, I decided to go for it, and succeeded.
    At the time, it felt a little like settling for something less than what I really wanted. But I justified it because it is an interesting specimen. The variety (Valentine-4) has been known for a long time and is not particularly scarce. But this example appeared a bit different than others I had seen.
    The reverse die has an obvious crack from the rim at N all the way across to the rim at M of AMERICA. While most look otherwise normal, this one was produced from obviously aging and dramatically clashed dies. It is amazing to me that a die already cracked into two large sections could endure extended additional use including multiple strong clashes without additional cracking. (I do not think I have the sequence reversed: I do not think any die rehabilitation would have left it capable of producing the more normal looking specimens.)
    So I figured that if I ever did get an 1855 upgrade, I would keep this one as a good example of an interesting variety in an interesting die state. A shot of the reverse is shown below. A future post will illustrate the earlier die state. Enjoy.
    Alan

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  15. Electric Peak
    The obverse of this coin is pretty dramatic, too.
    Sorry, I'm not good with the photo editing, so I'll post the 1855 V-4 obverse pic in this separate post. Like the reverse, it has obvious clashes and other signs of age.

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  16. Electric Peak

    Gardner #12

    By Electric Peak,

    I couldn't pass up an upgrade.
    In the four sessions during which Heritage sold the Gardner collection in 2014 and 2015, I was fortunate to obtain eleven of the 186 business strike Liberty Seated half dimes. As you might expect, some of those other 175 coins have made appearances since the Gardner sale sessions.
    One of those coins was in the Stack's-Bowers auction a couple months ago. It is a nice 1856-O in an NGC MS66 holder. I had considered it ten months earlier, but went after what I considered higher priority coins instead. But with the numismatic budget replenished and a second opportunity at hand, I acted. I was able to get it for what amounts to a cut bid more than the Heritage result.
    Needless to say, I am pleased with the acquisition. It did not fill an empty hole in the collection, but upgraded its slot, previously occupied by a coin graded MS62. (That is the main reason the new one was lower priority last year. But there have been a handful of upgrade candidates in addition to the few remaining empty slots.)
    Here's a shot of the obverse. Happy hunting to all...
    Alan

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  17. Electric Peak
    1847 Crain-3C
    Yes, this is another post about an 1847 shattered reverse half dime. As mentioned in earlier posts in this series, there is a third variety, Crain-3C, about which Steve Crain wrote that he had only ever seen one example.
    I did not have in mind to search all the 1847 half dimes in Heritage's archives to look for more. But while looking at price histories in that archive, I did look at some of the recently sold coins. The photo below is the reverse of an NGC MS64 that was part of the Hilt Collection that Heritage sold early last year. Notice the crack through A1 that makes its way through the wreath and more faintly through the U. This is the second known example of the Crain-3C shattered reverse variety of 1847. It is from a slightly earlier die state than that of the published discovery piece.
    Because 1) this coin was sold in early 2015, before Steve Crain's article was published, 2) I already had an MS66 for the date, and 3) I was not yet actively pursuing varieties, I did not bid on this coin. Now I wish I had... But like the Crain-2B, there probably is another out there for me. I will certainly be looking!
    Part 7 will be about a different date - I promise.
    Alan

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  18. Electric Peak
    More examples found!
    In the Summer 2015 issue of the Gobrecht Journal (Liberty Seated Collectors Club publication), Steve Crain (half dime expert) wrote an article in which he discussed three varieties of 1847 half dimes with shattered reverse dies. He designated them Crain-1A, Crain-2B, and Crain-3C (numbers 1-2-3 identifying obverse dies, letters A-B-C identifying reverse dies), and noted that he had only ever seen one example of the 2B and 3C.
    In my earlier posts in this series, I wrote of quickly finding and buying an example of the 1A, which presumably is more common than the other two. I also noted an example of the 2B in a Heritage auction. I quietly waited for it, bought it, and noted the find on the LSCC message boards as well as the NGC Journal. While on the LSCC boards, I noticed that another club member had already posted a photo of a 2B.
    Since then, I have identified what I believe are two more examples of the Crain-2B, but in earlier states of the reverse die. Both appeared in recent internet-only Heritage auctions. The first was a VF35 with only part of one of the cracks visible in the Heritage photo. I had intended to get it, but hadn't entered an absentee bid and got caught out on the road when the lot was sold.
    The second is an XF45 with parts of two cracks visible, and maybe part of a third. I got that one. The partial cracks clearly match the late die state examples. They are are from the rim to A2, from the rim to the right ribbon end, and maybe over TE of STATES.
    That brings the tally up to five known examples of the 1847 Crain-2B variety (the obverses all look the same to me), but the new owner of he VF may not know that there is anything "special" about the coin. With four finds in about a year of looking, it may not be particularly rare. In any event, it has been fun looking for these things and obtaining two of them.
    Alan

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  19. Electric Peak
    RIP, Gene.
    The new issue of The E-Gobrecht (Liberty Seated Collectors Club monthly electronic newsletter) reported the passing last month of Eugene Gardner. Many of you know that he had recently sold his amazing coin collection through Heritage in four sales in 2014 and 2015. He succumbed to complications of multiple myeloma, the same cancer that claimed my mother-in-law several years ago.
    I did not know Gene well, but did meet and speak with him briefly a few times. All but the first meeting were at LSCC meetings in Baltimore. The first time I met him he was behind me in a lot pick up line at a Baltimore show. We spoke briefly about the coins we were about to get. I did get the sense that he was a man of good character. Indeed, all accounts I've heard indicate that he was a quality human being.
    I was fortunate to obtain eleven half dimes from his collection. Aside from the fact that they are great coins, I will treasure them more for having met their previous owner who was a good man.
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  20. Electric Peak
    Only one is graded lower at NGC.
    Normally I'm pursuing high grade examples of Liberty Seated Half Dimes. For most issues I can't afford the very highest graded coins, but can get nice ones just a notch down, with only a small number graded higher. But as I get closer to completing the set, the remaining slots are harder to fill. So I have been getting some less expensive coins to represent interesting varieties and die states.
    Almost a year ago I purchased an 1848-O half dime for my main set. There are several known die marriages, involving reverse dies with three different sizes of the O mint mark. Mine is a relatively scarce Small O, one of two offered in the Gardner collection sales. I have been looking for cheaper examples of the scarce Medium O and relatively common Large O varieties.
    An example of the Medium O just appeared in a Heritage Sunday internet-only auction. NGC slabbed it as XF 40, a little lower than I'd prefer, but it's still a nice little coin. I "won" it. Given that the grade and price are low, I checked the certified populations, and was amused to see that there is only one graded lower by NGC (more by PCGS; and of course, there are many more out there raw or in other TPG holders). So it is sort of the opposite to most of my main set coins.
    I have heard of someone trying to collect the lowest graded examples of things. Perhaps the lowest 1848-O NGC half dime would be nice. According to the pop report, it's an AG3 star. Yes, an AG3 with a star for eye appeal. Maybe it can get a CAC sticker too.
    Anyway, here's the Medium O...
    Alan

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  21. Electric Peak
    CAC Gold, that is... and other colors
    Because the Liberty Seated Half Dimes I still need for my main set are not frequently available, I have started collecting interesting varieties. One that is visually obvious is the 1844 with repunched date. In the earliest die states, multiple extra impressions of the 1, 8, and first 4 are apparent.
    It is not clear how many reverse dies were paired with the obverse die in question. Nevertheless, repunched date examples for 1844 are more common than normal date examples. Despite that reality, the market has priced them a little bit higher than their normal date counterparts.
    Heritage has sold four of the repunched date in certified grades of MS63 and higher so far in 2016: One in 63, three in 64. The 63 sports a gold CAC sticker and one of the 64s has a green one. Guess which coin realized the highest price...
    MS63 NGC CAC gold $2585.00 colorful toning
    MS64 PCGS CAC $1116.25 light toning
    MS64 PCGS $ 493.50 dark toning
    MS64 NGC $ 399.50 and $470 (sold twice) dark toning
    At first look, the MS63 certainly is prettier than the others. It is colorfully toned, more attractively on the obverse than reverse. Based only on the photos, my guess is that it has the best luster of the bunch. But it also appears to have suffered more from contact than the others, though the toning does tend to conceal that from casual view. And it is a later die state, with only a single extra punching of the middle two digits apparent in the photo, while the other three are clearly from earlier die states. The earlier the better, in my book, when it comes to this type of variety.
    I actually wanted to get the 63. But the bidding left me in the dust. The NGC and PCGS price guides (for normal date, they are incomplete for the RPD) put a 63 at roughly $450, a 64 at around $700, and a 65 at $1300-ish - prices not far from reality. A gold sticker is supposed to mean that CAC thinks the coin is under-graded, and would sticker it at a higher (unspecified) grade. (Please correct me if I am wrong about that.) I stopped bidding at a what I would call a strong 64 price.
    So is an MS63 with a Gold CAC sticker worth MS66 money? I judged it to be a nice 64 at best. But opinions differ, as the buyer and under-bidder demonstrated. Perhaps I would have thought more highly of it had I gotten to examine it closely. Even so, 26 Benjamins seems like too much. I attribute the result to the desire for the gold CAC sticker and maybe the colorful toning (see the Heritage photo below). What do you think?
    Alan

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  22. Electric Peak

    Long Strange Trip

    By Electric Peak,

    A tale of receiving new acquisitions...
    I've seen a number of comments in Journals and the Message Boards complaining about how long it takes to receive "winnings" from Heritage. Over the years, I've had a noteworthy experience or two, about which I have written past journals. None of my cases involve unreasonable (in my view) lack of timeliness, however.
    Last month, I won items in two Heritage auctions. From the FUN show auction (ended 1/10/16) I got three relatively inexpensive coins, and in a weekly Tuesday action (1/26/16) one more. I received the latter coin yesterday, and tracking info says I'll be getting the first three coins today!
    In both cases, Heritage took several days after the auction to initiate the shipping process. So why did the last coin get home in short order (once shipped), and the the other three are taking so long? I don't know. Here's the final tracking info:
    February 3, 2016 , 9:45 am Out for Delivery
    February 3, 2016 , 9:36 am Sorting Complete
    February 3, 2016 , 8:18 am Arrived at Post Office
    February 3, 2016 , 3:01 am Departed USPS Destination Facility BALTIMORE, MD 21233
    February 3, 2016 , 2:55 am Arrived at USPS Destination Facility BALTIMORE, MD 21233
    January 31, 2016 , 5:59 am Departed USPS Facility CAPITOL HEIGHTS, MD 20790
    January 30, 2016 , 8:51 pm Arrived at USPS Destination Facility CAPITOL HEIGHTS, MD 20790
    January 21, 2016 , 3:11 am Departed USPS Facility NTX P&DC
    January 20, 2016 , 6:44 am Arrived at USPS Facility NTX P&DC
    January 19, 2016 , 6:14 pm Arrived at USPS Facility DALLAS, TX 75398
    January 19, 2016 , 1:11 am Arrived at USPS Facility NTX P&DC
    January 18, 2016 , 11:56 pm Accepted at USPS Origin Sort Facility DALLAS, TX 75260
    January 18, 2016 , 6:30 pm Shipment Accepted DALLAS, TX 75260
    During the January 21-30 period, the USPS tracking details showed stops in two other locations in Maryland as well. Maybe the storm had something to do with things early on, but it looks like the postal service didn't really know what to do with that package. Hopefully all will be in order when I get it this evening.
    Here's the coin I received yesterday, dated 1936:

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  23. Electric Peak

    Registry Awards

    By Electric Peak,

    Double whammy.
    Hi friends. Earlier this evening I was taking care of some business on-line, and thought I'd check the Registry Awards before spending some time with my wife. I had won a couple awards several years ago, so I'm in the habit of checking to see each year. Having left my wife so she can get some rest (she's fighting a cold), I wanted to put some of my thoughts out here.
    First up: Thanks to the judges for recognizing what I do here. I really do appreciate it. I don't write journals with an eye on receiving the Journal Award, but I do try to write things that, as it happens, are in line with the criteria for the award. As for the coin sets, I certainly never expected to win a Best Classic Set award, since there are so many great sets in the NGC Registry!
    Also: Congratulations to all the winners! But more importantly, congratulations (and thanks) to everyone who contributes here. One of the great things about our hobby is that it's not just about privately accumulating the best coins or the most coins. It's about learning and sharing information and enthusiasm with friends. While I have my particular collecting priorities, I can come here and be inspired by truly fabulous sets, learn from other members about coins of the Philippines and coins featuring women, ships, horses, etc., or follow the progress of collectors of more modest means who are fully enjoying their more humble sets. Much more could be said along these lines, and I'm sure some will.
    I don't read a whole lot of numismatic literature, but am currently reading Dave Bowers' recent volume on Half Cents and Large Cents. One of the things that struck me again is the history of great friendships and camaraderie (and some not so great relationships) among collectors. Although my wife and I are not especially social creatures, I do enjoy actual face time with fellow club members, friends, and dealers when I go to the Baltimore shows. This forum is good, but direct interaction with "real" people will always be better than this impersonal realm. Human nature being what it is, I value a measure of anonymity. But human nature also drives us to engage with other people in meaningful ways.
    Five years ago, after my late date large cent set won for Best Presented Set, there was an understandable surge in the number of views of that set. Half dimes don't seem to get a lot of attention these days. My hope is that the award for my Liberty Seated Half Dime set will get them some. There is just as much to enjoy about those small coins as there is about Walkers and Morgans. Indeed, because they have not been as popular as other series, I'd say there's more to enjoy about them. There still is no good reference book on seated half dimes (although Steve Crain, probably the best authority on them, has recently indicated that a book is in the works). So very few people have been looking for varieties that aren't listed in the Red Book. Thus, many interesting, and possibly rare varieties are still out there, waiting to be found. My previous journal highlighted one such find.
    For combining the desire for camaraderie and information, as I have done before, I do again: Consider joining a local coin club, or one of the national specialty clubs. I'm a member of Early American Coppers and the Liberty Seated Collectors Club. The people are great, and the information available from them is great. There are other clubs for other specialties. Find the one (or more) that suits you. You'll be glad you did!
    That's enough rambling for now. Again: Thanks, Congratulations, and Enjoy!
    Alan

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  24. Electric Peak

    Shattered - Part 4

    By Electric Peak,

    This is the Part 4 I had hoped for!
    Several weeks of anxious waiting have almost come to a pleasing end. The Liberty Seated Collectors Club Summer 2015 issue of the Gobrecht Journal (volume 41.3, issue #123) had an article by half dime authority Stephen Crain about three varieties of 1847 shattered reverse (SR) half dimes. I wrote earlier about my acquisition of the first of those shortly after I received the journal.
    In my quest to complete my set of Liberty Seated Half Dimes, I try to keep up on what coins are currently available through various dealers, and are upcoming at various auction companies. Back in October, I started looking at what would be available in the Heritage December 3-6 auction. There was an 1847 half dime, graded MS 66 by NGC. Initially, I did not think much of it because I have one of those in my main set already, and in the Crain article, he says that in his decades of specializing in these coins, that he has seen only one each of the other two varieties of SRs for the year.
    But in a later view of the auction's growing lineup, I decided to look at it more closely. What I saw surprised me. One obvious crack from the right ribbon to the rim matched the second SR variety! The combination of toning and lighting for the photo made fine details difficult to discern, but I could see most of the cracks identified by Crain, and maybe one or two he did not mention! It was clearly the same reverse die, possibly in a different die state.
    My next step was to see if the obverse was the same. Looking at the article's photo, the obverse did not match. Did I have a new die marriage that Crain had never seen? Well, not so fast. Looking at things in the article a little more, it was apparent that an error was made. The same obverse photo was printed for the first two SR varieties. It matched the description of the first.
    Then I went to the LSCC discussion boards to call attention to the problem, and to ask Steve to post the correct photo. Once the photo was posted, I had my answer: It matched the coin at Heritage. So I identified a second known example of the variety. (The Heritage coin and the one in the article are clearly not the same coin.)
    Of course, I had to have this coin! At this point, I had three and a half weeks to wait this out. Would anyone else notice? If so, would they be willing to pay a strong premium for it? Had my post on the LSCC boards raised too much attention?
    On my side is the lack of good information about the Liberty Seated Half Dime series in general. The existing books are simply not up to the standards I am used to with the early copper, and have been appearing for other US coin series. So there is not yet a large collector base for these coins, especially not for varieties.
    Well, the auction session in question was this past Friday evening. This 1847 half dime crossed the block uneventfully, and will soon be home, briefly, to be photographed and enjoyed. I got it for less than it fetched earlier this year, and for less than my other MS 66 for the year. I feel like I got a real bargain. But collector interest will have to grow for that to be fully realized.
    Here is Crain's description of the cracks:
    "Die crack from rim at K7:30 through right upright of U1 to wreath and up across leaves.
    Die crack from rim at K10:00 to D1.
    Die crack from rim at K12:00 to tops of TES and back to rim.
    Die crack connects bases of F1 and A2.
    Die crack from rim at K1:30 to A2 to wreath at berry.
    Die crack connects tops of M1 and E3, and to rim.
    Die crack from rim at K5:00 to right stem to wreath.
    Die crack from rim at K5:30 to right ribbon to right stem to bow.
    Die crack from left wreath at upper berry to just below left serif of H(ALF) to I of DIME.
    Faint die crack from bottom of L in HALF to top of M in DIME."
    Other cracks are marked on the article's photo, and at least one more is neither marked nor mentioned in the text.
    Once I have it in hand, I should be able to assess the relative die state, compared to the one in the article. The photos in the article and at Heritage are good, but not as good as I need for a proper evaluation.
    So there still are some nifty coins out there, in plain view, waiting to be discovered. I think the Liberty Seated Half Dimes are fertile ground for this, since so few people have been looking. Anyway, here it is. Enjoy!
    Alan

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  25. Electric Peak
    Unlike some other recent acquisitions, this one is normal.
    A couple years ago I posted about an 1861 half dime that I had gotten at auction. It is an example of the so-called 1/0 overdate, with the second 1 having extra raised metal that had been interpreted as remnants of an underlying 0. There are at least four 1861 obverse half dime dies that have this feature. It is now generally accepted that a faulty four-digit date punch was responsible, since the date digits and the supposed remnants of a 0 appear more or less identical in all four, with some variation due to strike or die state.
    In a recent Gobrecht Journal (official publication of the Liberty Seated Collectors Club) article, half dime expert Stephen Crain identified the 1861/0 as the most overrated Liberty Seated half dime. In my own pursuit of half dimes, I have found this to be true. They are quite common, possibly even more common than the Normal Date varieties for the year. Despite that, the so-called overdate continues to command prices two to three times that of the normal date. What complicates this is that, among certified examples, many so-called overdates are not attributed as such, while some normal dates are improperly labelled as '1/0'. Neither of my two so-called overdate varieties are certified as such.
    The one I got two years ago is graded MS66 by PCGS, and has a green CAC sticker. I am very pleased with that coin, and have had it in my main set. But I did not have an 1861 Normal Date, and of course I wanted one. Part 4 of the Gardner sale had a nice example, graded MS67 star by NGC.
    I had been prepared to spend a quite a bit to acquire several coins from that sale. Having missed out on a couple targeted coins earlier in the session, some of that cash was still available. I wound up getting that 1861, and the pretty 1873 pictured in another recent journal. This 1861 Normal Date is now in my main set. The reverse is toned much like the obverse, pictured here.
    Alan

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