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1870 Proof @ Heritage

Started by Dwaine,

19 posts in this topic

michael

michael

Posted
Posted
Yes as they even mention the scratch in the description. I can't believe the discussion ATS about this same coin:

 

ATS

 

oh my

 

my my my my my my my my my my my my my my my my my

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James_OldeTowne

James_OldeTowne

Posted
Posted

Personally, I see this coin as being properly slabbed by PCGS. PR-62 implies a proof with significant problems, but no wear from circulation. It appears this coin fits such criteria.

 

Most often, PR-62 would indicate a coin with a substantial cleaning, but I suspect in this case, it's a nice proof except for the scratch. Also, the image is horrible, and I'll bet the angle of the lighting way overemphasizes the scratch.

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Prethen

Prethen

Posted
Posted

That is one impaired Proof.

 

That coin should have never slabbed.

 

Dwaine...did you post this on the PCGS boards? I'm really curious what they would say over there. If you'd prefer, I wouldn't mind posting it over there. You and I both have 1870 Proof sets and have the same interest.

 

James, I have to disagree with you. Proof 62 should not implied it's impaired. It should imply that it's far from perfect or Gem but not impaired. Perhaps it has some extra hairlines or hits for the grade.

 

For the record, James, I coincidentally own a 1870 PCGS PF62CAM Seated Dollar that a fellow board member helped find for me. I know why PCGS gave it that grade, but I've heard opposing comments that state that it really could/should be in a 63 holder. It has no hits (at least none that are distracting) on the coin, but it does have a fairly dense set of hairlines in the (left) field with several in the right field. I'm willing to gamble that those hairlines are from shifting in a cabinet and not someone wiping the coin.

 

18701DollarPCGSPF62Cameo-Obverse2-s.jpg18701DollarPCGSPF62Cameo-Reverse2-s.jpg

 

[same coin, different lighting]

18701DollarPCGSPF62Cameo-Obverse-sm.jpg18701DollarPCGSPF62Cameo-Reverse-sm.jpg

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Prethen

Prethen

Posted
Posted

I'm surprised this example hasn't got more response than this on this board. I'm curious to know how this is a market acceptable, problem-free PF62. Who cares if the scratch is OLD or NEW? It's a damaging scratch which goes over the line of anyone's definition of a hairline which would be acceptable (if it doesn't look like cleaning).

 

That coin, in my opinion, is not worthy of anything above a 60 and that's pushing it. The eye will immediately go to that problem. And, it is a problem. SEGS and NCS will holder problem coins like this.

 

Quarter Eagle with scratch in SEGS PF60 holder; the right market grade.

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James_OldeTowne

James_OldeTowne

Posted
Posted
I'm surprised this example hasn't got more response than this on this board. I'm curious to know how this is a market acceptable, problem-free PF62.

Just because the coin is in a PCGS holder doesn't mean the good folks over here are going to bash all over it. I will surmise that most think the grade is adequate! I know I still do. It's a proof coin that at some point in 140 years picked up an incidental scratch, which is probably heavily overemphasized in the awful Heritage images. What more can really be said?

 

Yes, someone might well prefer a coin like that with ONE isolated issue, rather than one that is hairlined to death all over, which is how most PF-62s are.

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michael

michael

Posted
Posted

bruce as you can see the market spoke and the coin was not sold

 

also bruce your coin should be in a higher holder but remember with the fickle subjective grading anything is possible including an undergrade :flamed:

 

and bruce what i love about your proof 1870 seated dollar is that the coin is WORTH MORE OUT OF ITS RESPECTIVE HOLDER than in its holder....... and as such is

 

a truly rare coin indeed

 

this is the kind of coin i love to buy if i am considering buying classic coins or ANY COINS INCLUDING MODERNS

 

ask yourself this

 

look at a coin; say in a pcgs holder and ask yourself if i break this coin out of its respective holder what is it worth?? if the coin broken out of its respective holder is worth as much OR MORE then when the coin was holdered it is a coin i love..... IF NOT then let the buyer beware

 

 

 

 

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rexcat

rexcat

Posted
Posted
Personally, I see this coin as being properly slabbed by PCGS. PR-62 implies a proof with significant problems, but no wear from circulation. It appears this coin fits such criteria.

 

Most often, PR-62 would indicate a coin with a substantial cleaning, but I suspect in this case, it's a nice proof except for the scratch. Also, the image is horrible, and I'll bet the angle of the lighting way overemphasizes the scratch.

 

 

You're right on the money James about PR-62s', yeah coins in these slabs have some minor issues caused mostly by some owner of the coin at one time, oops :o .

 

Having sought proofs for as many spots in my type that I could afford has sent me searching, looking, comparing many of these cool old proof coins. I've seen good for the grade and not so good. With enough patience and looking the right coins can be found.

 

The pre-1915 proofs in my set range from PR62 to PR65 with many being cameos, actually very little separates each grade as long as the over all appearance is pleasing. It was tough finding some of my coins, especially when looking for issues that all I could really afford is a PR62.

 

I feel that before slabbing the pricing of these old proofs were weighted more on overall eye appeal and not on light hairlines or a single nick which now can limit the grade a point or two and lower price a lot on what is other wise a nice looking proof. My PR62 pieces have good I appeal (I think any way lol ) and would have cost more in a market without slabbing.

 

Ugly Proof coins can be found in all grades, but as you go down the scale there are more and more in each lower grade. Below PR62 in 19th century proof issues it can get little rough with some coins having distracting blemishes, but they do get slabbed. This is a really good example of market grading, proof coins minted after 1915 wouldn't have a chance of being slabbed with any visible distractions.

 

 

 

 

 

 

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michael

michael

Posted
Posted

totally agree

 

i think the key here is eye appeal

 

does not matter the grade so to speak

 

you can cherry pick a really great looking proof 62 19th century proof coin where the coin looks a point to a point and a half higher grade and if the coin was raw it would sell for lots more!!

 

BUT IT TAKES LOTS OF LOOKING TO FIND THESE GRADED PROOF 62 KILLER EYE APPEAL COINS AS THEY ARE really FEW AND FAR BETWEEN

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