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Wow, and I was wanting one in MS

16 posts in this topic

1885 biz strike are increibly rare so the odds are way in my favor that it is a proof

 

now lets assume it is a true biz strike and i would assume that it would be impossible to tell at this condition of the coin

 

so the point is moot

 

so this is my reasoning

 

so for me it is an impaired proof

 

 

 

and after reading this see my add on just below my post

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now to add a dash of intrege to the mix

 

 

with propritery information that i have and have given my word not to reveal but has not been as yet revealed to the general three cent nickel collecting community

 

i know it is an impaired proof

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NumisMedia price guide reports a G-4 @$444 and a MS-60 @ $1,320

 

That's a pretty rough looking example.

 

Those who have seen my posts on this type of topic know that I usually take the opposite position on US coins that I am about to take. But the last time I checked the NGC census, I believe there were only a dozen or so in the population. I do not recall the PCGS pop, but especially for a US coin, that is a very low number. If those numbers accurately reflect the scarcity of this coin, $1320 would be a bargain for an MS-60.

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NumisMedia price guide reports a G-4 @$444 and a MS-60 @ $1,320

 

That's a pretty rough looking example.

 

Those who have seen my posts on this type of topic know that I usually take the opposite position on US coins that I am about to take. But the last time I checked the NGC census, I believe there were only a dozen or so in the population. I do not recall the PCGS pop, but especially for a US coin, that is a very low number. If those numbers accurately reflect the scarcity of this coin, $1320 would be a bargain for an MS-60.

 

The $1320 might be what the books show but I dont think you would get one for that price. Now if anyone had one in that grade they want to sell me for 1320 just let me know how you want me to pay. Cash, Check, Paypal?

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with propritery information that i have and have given my word not to reveal but has not been as yet revealed to the general three cent nickel collecting community

 

This confused me. Have I been awake too long or is anyone else wondering what he is saying

 

 

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with propritery information that i have and have given my word not to reveal but has not been as yet revealed to the general three cent nickel collecting community

 

This confused me. Have I been awake too long or is anyone else wondering what he is saying

 

 

He's keeping secrets.

 

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I think I'd race you to the checkbook if I could find one of these for $1320 in MS60. :)

 

While the 1885 proof 3 cent nickel is common enough like the rest of the series in proof format, the circulation strike is an absolute poster child on why price guides are not always a good indication of value. Case in point -- a few years back, someone wrote in and complained about the values in the price guides on the Heritage Auctions website for this exact coin as a circulation strike. He thought the values were way too low. I looked through the archives, compared the auction results with the price guides, and he was right. But then I looked at every single price guide I could find, retail and wholesale... and ALL of them were too low for this coin by multiples of the listed value!

 

This made a pretty good article for the newsletter. ;)

 

I have not trusted a price guide as a primary source since -- especially on tougher date 19th century type stuff. I lost count of how many times I got outbid on nice better date circulated Seated coins at way above any of the guide values.

 

The guides are still way off on the 1885 3CN IMO; the true value of the circulation strike is probably twice Red Book or more in all grades. Keep in mind that the Red Book otherwise has high retail prices. That said, if the coin in the eBay Listing is actually a business strike, it might be worth it at the price it sold for, even with all the problems.

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