Interesting action on 1861-D Dahlonega half eagles in the Heritage FUN sale

[DirtyGoldMan]

There are two PCGS MS-63 1861-D Dahlonega $5's offered in the upcoming FUN sale

 

Lot 3198 is from the Duke's Creek collection, graded MS-63 by PCGS, and generally considered to be the finest known of this wildly popular issue (well, wildly popular for a Dahlonega coin). If it hammers at the current bid, the $207,000 selling price will set a new record for the highest price ever paid for a Dahlonega coin. Not that it matters here, but the coin is stickered by the CAC.

 

Lot 3199 is from the Green Pond collection, at that time in a PCGS MS-62 holder and sold for $75,000. It has since been upgraded to PCGS MS-63 and has been in the Rare Coin Wholesalers' inventory for at least the last two years (per my recollection) and offered for $150,000. It is felt to be tied for #3 in the condition census for this issue. It is now in the same sale as the coin described above, reserved at $140,000 and has not yet met reserve. My guess is that it will not sell. And, no, it has not been stickered by the CAC.

 

A "financial analyst" will probably claim that some fool will be paying a 50% premium for the sticker, but those in the know understand that Lot 3198 is a considerably better coin than 3199.

[BillJones]

The grading for Charlotte and Dahlonega gold coins has been wildly inconsistent for years. Many coins are over graded not be a few points but as much as the grade nomenclature (e.g. a low end VF put into an EF-40 holder), which translates into as much as 10 to 20 grading points! If one is a very careful shopper it is possible to get properly graded C and D coins in PCGS and NGC holders, but you have to go through a lot of chaff to find the wheat.

 

I’ve not seen either of these coins. My guess is the difference between the two must be close to night and day. But if the difference is not that dramatic, the cheaper piece could be the wiser buy. Some coins that are declared “the finest known” are there because of reputation and who owns them. Some coins that are “the finest known” are only hair better than #2 or even #3.

 

Once more one has to look at the coins to make sure.

 

Edited to say I've looked at the plates on the website and can't decide which coin I would rather have based on that. This is clearly a case where one would have to see the coins in person to make an evaluation.

[IGWT]

Neither is worthy of the IGWT cabinet.

[DirtyGoldMan]

Edited to say I've looked at the plates on the website and can't decide which coin I would rather have based on that. This is clearly a case where one would have to see the coins in person to make an evaluation.

 

In my experience, that is almost always the case.

[Conder101]

I think I'd rather have Lot 3199. I like the color and it is better struck.

[BillJones]

I think I'd rather have Lot 3199. I like the color and it is better struck.

 

Yes, I kind of felt that way from the pictures, but I did not want to be presumptuous. I can adjust grades for strike issues, but I’m not a walking encyclopedia on C and D gold.

[just-john]

I'd rather have the $207,000.00 dollars for a nice vacation and send my grandkids to school

[physics-fan3.14]

While I don't know anything about half eagles, D coinage, or pretty much anything involved with these auctions, I think I would rather have the auction 3199. From the picture (which I know really doesn't mean much of anything) it looks to have better color and looks more original. I just like it better.