1853-O no arrow half dime went strong

[toyonakataro]

1853-O no arrow half dime graded MS61 by NGC was auctioned by Heritage pre Long Beach Sale and the hammer price was $6750 plus juice, $7762.50

According to CDN, price for this date is $3700 in MS60 and $7000 in MS63

This is a Rare date, one of the key dates of this series and I know I can NEVER get one at sheet price even though half dimes are cold as usual even in this hot market. But I never thought the price would go that high.

Do you think the hammer price is fair?

Do you think the price went much higher than the sheet due to hot market or just because the sheet undervalue this rare date?

Do you think I have another chance to get this date at below $7700?

 

 

 

for some reason

[BillJones]

In the current market, ANYTHING that is viewed as a key or rare date brings strong, strong prices.

 

I think that a lot of this market is collector driven, which in a sense is very good. It means that people who really care about the coins are buying them, and chances are there will not be a huge price drop like we saw in the early and late 1980s. On the other side it makes it darn hard to buy nice coins unless you are well off or have an income that is rapidly increasing.

 

If the “investment fools” start buying coins, watch out. That’s were people can really get hurt financially. When the fools get T’d-off with their “investment” and stop buying, a market crash is the inevitable result.

 

As for the 1853-O half dime, the coin is a MAJOR rarity to in true Mint State. Since this coin was graded MS-61, my guess is that this piece was not quite Mint State. Still the piece is listed in Coin Prices magazine in MS-60 @ $7,000 and $9,000 in MS-62. Of late Coin Prices has been better at predicting what one will have to pay for key date coins when you buy them from dealers. That goes for dealers and collectors. The Gray Sheet numbers just don’t work.

 

[toyonakataro]

I saw a 1840-O drapery(another key) in NGC MS61 last Sep. at Long Beach.

Seller wanted $8300 for it, and I passed because I thought it was way overpriced and in fact, most of his coins in the show case were overpriced...but I might be wrong after reading BillJones' comment

I wonder how many years do I have to wait to see another 1853-O in mint state.

Oh, yeah I was the underbidder

[MikeKing]

a crash would be great for collectors