FishyOne Posted October 28, 2010 Share Posted October 28, 2010 I recently purchased this piece (seller's images) and wonder what you think of it. It's got strong luster that doesn't show up well in the images. Opinions? Grades? NOTE: Images have been enlarged. Link to comment Share on other sites More sharing options...
MarkFeld Posted October 28, 2010 Share Posted October 28, 2010 I'd guess somewhere between AU58 and MS62 - do you have larger images you can post? Link to comment Share on other sites More sharing options...
BillJones Posted October 28, 2010 Share Posted October 28, 2010 My guess is the coin got an MS-62 grade if it has strong luster. It's really not quite Mint State, and you can find these coins without the marks in the fields. The Indian $2.50 and ever more especially the $5.00 Indians did not fare well in circulation. It was thought that the incuse devices would result in a long circulation life, but since the fields were the highest points on the coin, they were very prone to marks and wear. The result was that it is very hard to find these coins in grades higher than MS-63 for the $2.50 and "real" Mint State for the $5.00. For comparison purposes here is a piece that has been graded MS-64. Link to comment Share on other sites More sharing options...
James_OldeTowne Posted October 28, 2010 Share Posted October 28, 2010 The image is kind of small, but I would loosely guess MS-61. Link to comment Share on other sites More sharing options...
PerryHall Posted October 28, 2010 Share Posted October 28, 2010 From those pics it appears to be a 62 or 63 depending on the quality of the luster. It could be a 58 if there is some light wear that's not visible in your pics. Link to comment Share on other sites More sharing options...
RWB Posted October 28, 2010 Share Posted October 28, 2010 BillJones is quite right! In 1920, Mint Director Baker recommended no resuming $2.50 production following the war. He noted that the coins were subject to excessive wear and quickly became marred and unattractive. They were officially discontinued by Congress in 1930. Link to comment Share on other sites More sharing options...
FishyOne Posted October 28, 2010 Author Share Posted October 28, 2010 I appreciate the comments. I don't have better images but enlarged the ones I have in the first post. I think you guys will surprised when I reveal the grade. I was able to pick this piece up for under market rate for the grade, right at Greysheet Bid. Again, the luster is very good but doesn't show up in the seller's images (posted). Link to comment Share on other sites More sharing options...
MarkFeld Posted October 28, 2010 Share Posted October 28, 2010 I appreciate the comments. I don't have better images but enlarged the ones I have in the first post. I think you guys will surprised when I reveal the grade. I was able to pick this piece up for under market rate for the grade, right at Greysheet Bid. Again, the luster is very good but doesn't show up in the seller's images (posted). Depending on the coin and market conditons, Greysheet bid isn't necessarily "under market rate". Link to comment Share on other sites More sharing options...
FishyOne Posted October 28, 2010 Author Share Posted October 28, 2010 Depending on the coin and market conditons, Greysheet bid isn't necessarily "under market rate". Yes that's true, but it was in this case. My price was under what APMEX is paying sight-unseen for this series/grade. I figured, what the heck. If I don't like it, I'll send to APMEX and make a few bucks. Link to comment Share on other sites More sharing options...
MarkFeld Posted October 28, 2010 Share Posted October 28, 2010 Depending on the coin and market conditons, Greysheet bid isn't necessarily "under market rate". Yes that's true, but it was in this case. My price was under what APMEX is paying sight-unseen for this series/grade. I figured, what the heck. If I don't like it, I'll send to APMEX and make a few bucks. What was the grade and the price? Link to comment Share on other sites More sharing options...
FishyOne Posted October 28, 2010 Author Share Posted October 28, 2010 I appreciate your input Mark. I know you are a recognized expert in numismatics and read your posts here, on CoinTalk, and CU Forums as well. The story behind this coin: I love classic gold pieces and saw this one on eBay last summer with a BIN price of $1300 delivered. The Bing Cashbask offer was still in effect, so I was able to get it for $1200. It's a 64! Anyway, I bought from the originally posted images which looked more 62-63 to me but......the coin arrived a couple months ago and the reverse really shocked me. 62 would a fair grade for the reverse IMO. The obverse is very nice and carried the coin for sure. So it's a 64- in my book. Here's some images for reference. The coin is in my SDB but I got some pics from NGC's website that show the luster better. Link to comment Share on other sites More sharing options...
MarkFeld Posted October 28, 2010 Share Posted October 28, 2010 I appreciate your input Mark. I know you are a recognized expert in numismatics and read your posts here, on CoinTalk, and CU Forums as well. The story behind this coin: I love classic gold pieces and saw this one on eBay last summer with a BIN price of $1300 delivered. The Bing Cashbask offer was still in effect, so I was able to get it for $1200. It's a 64! Anyway, I bought from the originally posted images which looked more 62-63 to me but......the coin arrived a couple months ago and the reverse really shocked me. 62 would a fair grade for the reverse IMO. The obverse is very nice and carried the coin for sure. So it's a 64- in my book. Here's some images for reference. The coin is in my SDB but I got some pics from NGC's website that show the luster better. Glad to hear that- you are in the coin at a good price. And better yet, you seem to e enjoying it. (thumbs u Link to comment Share on other sites More sharing options...
jtryka Posted October 29, 2010 Share Posted October 29, 2010 The second group of pictures look a lot nicer! I still loathe that design though... Link to comment Share on other sites More sharing options...
PerryHall Posted October 29, 2010 Share Posted October 29, 2010 The second group of pictures look a lot nicer! I still loathe that design though... I really like this design. I'm curious---what is there about this design that you loathe? Link to comment Share on other sites More sharing options...
