Is this coin over-graded?

[JIM F.]

I won it, then Teletrade sends me an email saying the coin was withdrawn and they can not deliver it. Probably just as well??

[Schatzy]

Looks very harshly cleaned to me!!

[Walkerfan]

That coin is very low grade and the surfaces look badly altered. I certainly wouldn't want it.

[bsshog40]

Well if the money was right, I think it would've stil been a little cool to have a pre 1800 coin as they are expensive no matter what the series. The cleaning is an issue of course and if you have the $ to get a better one than you're probably better off Jim.

[michael]

it all depends on what it looks like sight seen and also

 

most importantly

 

 

if you won it what did the invoice say before they told you it went back to the consigner?

[JIM F.]

This is the email from the auction house:

"Thank you for participating in Teletrade Auctions. I must inform you that we have an

 

Issue with Lot 1879 the 1795 50C NGC08. This coin was returned to the consignor before the

 

Auction and was not correctly removed from last night’s auction. We unfortunately do not have

 

The coin and are unable to retrieve it."

 

 

[michael]

okie well waht was your high bid including the juice??

[JIM F.]

$850 + 15%

[michael]

the 125 overton is a common die variety on 1795 flowing hair halves if you can call any 1795 flowing hair half common

 

 

it is for me a vg details coin with the overall coin being cleaned white looking

at least from the photos i have seen on here and with neutral eye appeal

 

it needs to be retoned

 

also

 

with strong adjustment marks at 4-6 pm on the botton rims of the obverse into the datr e areacombuined with a weak strike at the date area meant this coin had unc details when it was struck and xf/au details in the date area so when it wore down to vg the date area was worn down to fair/poor hence the almost missing/faint/weak date

 

it is an unusual coin

 

as to value

 

hmmmmmmmmmmmmmmm

 

let me get back to on this one

 

and in my opinion/guesstimate clearly the consignor was looking for much more than the final price and must of at the last minute called teletrade to stop its sale

which i am sure they can do if you read the fine price of their auctiob terms and conditions some might not like it and it might be unfair/harsh but well such is life in the coin game and also life in general

 

 

 

 

 

[JIM F.]

It didn't break my heart that Teletrade couldn't deliver. It did, however, put my purchases over $1500 to avoid CA tax, and by Teletrade removing it, I have requested that they credit me 10% for my other purchases due to Teletrade's error and the fact that I purposely bought over $1500 at the auction to avoid the unfair sales tax. We'll see what happens.

 

 

[michael]

this exact same holdered coin sold in the heritage summer fun auction july orlando florida 2010

 

for $1038.45 all in in other words including the juice

 

and the photo in the heritage auction is totally different in terms of overall balance and color then the teletrade coin photos in one way it is better and in another way it is much worse

 

 

 

so i can see why the consignor did not want it to sell

 

i grade this coin $775.00

[JIM F.]

OK. I grade it "THANKS TELETRADE FOR NOT DELIVERING IT, AND LOOKING LIKE FOOLS!!!"

 

I'll take that money and put it towards my Franklin Half Cameo Proof set (almost compete).

 

 

[michael]

if the coin sold for 850 and the consignor has to pay lets say 10% they only net

 

$765

 

and they bopught it from heritqage then i again can see why they do not want it to sell

 

and if they paid more than the heritage price from the winner of the auction again

 

can see why it did not sell

 

i think you did well but not letting them let you win the coin in fact i would send them a box of chocolates for this

 

anyways you never know it might appear again and then you can bid only 700 and then if you win it and they let you buy it for that you got a super duper great deal

[michael]

i happen to agree with you my friend

 

but remember from your experiences now you know why many say teletrade is a thinly discuised retail site

 

 

based on all the interesting ways they conduct an "auction"

 

[jtryka]

I am not a big fan of that coin, JJ Teaparty has a very nice 1795 graded VG 10 by NGC in an older holder, and they are asking about twice what you paid ($1,795), but that coin is so much nicer.

 

Looking at the Heritage archives, this coin sold for $1,038 in July and the Heritage photos make it look much worse, all splotchy and just miserable:

 

http://coins.ha.com/common/view_item.php?Sale_No=1142&Lot_No=3649

 

I would definitely count your loss as one for the win column!

 

 

[michael]

i like the way this numismatist talks

 

see posting above this one (thumbs u

[physics-fan3.14]

Jtryka, I saw that coin in Teaparty's inventory, and I was seriously considering buying it. I probably would have, if the 1963 Franklin didn't come my way.

 

Jimbucks, as I have already said in another thread, be glad you did not get that 1795. I wouldn't have even offered $600 for it.

[PerryHall]

That coin needs to go back to NGC so they can take it off the market.

[James_OldeTowne]

Is this coin over-graded?

Yes, it is.

 

Or to put it a different way, it is overvalued at $1K.

[BillJones]

I agree with the idea that the coin should be priced as a Good. These coins in Good don't amount to much and this one with its multiple problems falls into that category. To me it's a fancy space filler.

 

Some years ago I sold a wonderful 1795 half dollar that was VG-10 for $1,600 when the bid price was only about $1,000. I paid $1,400 for it. It ran circles around this piece. It had a lot more detail and had attractive gray surfaces.