Value of PO1 18th century large cent

[mtnstyne]

I came across a large cent that the date was unreadable this weekend. It was very worn but you could make out it was a draped bust of some sort but that is all I could tell. Just out of curiousity what would be an acceptable value of a coin like this without knowing anything else about the coin?

[physics-fan3.14]

A couple of dollars at the most. Because the date is not readable, the coin is not gradeable (and thus does not even grade PO1). Coins like this are the best for making jewelry, belt buckles, wallet clips and the such.

[Schatzy]

Get it slabbed and the lowball collectors will go crazy over it!!

 

A 1897-S Morgan Dollar graded PCGS Poor 1 sold for $565 on November 2010.

The same coin in Uncirculated PCGS MS63 grade sells for under $120.

[physics-fan3.14]

Get it slabbed and the lowball collectors will go crazy over it!!

 

A 1897-S Morgan Dollar graded PCGS Poor 1 sold for $565 on November 2010.

The same coin in Uncirculated PCGS MS63 grade sells for under $120.

 

If the date is unreadable, the coin is unslabbable.

[Conder101]

The value is minimal unless you can attribute it by die variety and that may or may not be possible depending on how much other detail is visible and what the date of the coin actually was. My 1799 S-188 is a dateless piece but is attributable making it worth a few hundred dollars.

[thecoinczar]

How can that be Schatzy? I don't get it.

[Arizonadesertrat]

"...If the date is unreadable, the coin is unslabbable."

 

Not necessarily. Certain one-year types have been slabbed even if the date has worn off. For example, there are chain cents in P01 slabs.

[Conder101]

How can that be Schatzy? I don't get it.

There are collectors who chase the high end coins, likewise there are also a dedicated group of collectors who try to build sets in the LOWEST condition possible. There are a LOT of MS-63 1897-S dollars floating around so if a collector want one he won't have too much trouble finding one. But there are very very few 1897-S dollars that are GRADABLE in less than Good. That PO-1 piece could very well be the only one and for those people building a very low end set it would be like a pop top piece would be for a high end collector. So you have many people who want it but it is the only one, high demand low supply, simple economics and the price goes up. In this case way up. Sure the collector can pay less, but he will have to settle for a higher graded coin.

[BillJones]

Get it slabbed and the lowball collectors will go crazy over it!!

 

A 1897-S Morgan Dollar graded PCGS Poor 1 sold for $565 on November 2010.

The same coin in Uncirculated PCGS MS63 grade sells for under $120.

 

If the date is unreadable, the coin is unslabbable.

 

No, there are some Sheldon variety cents that can be attributed without a readable date and can therefore be graded BS or Poor-1. Years ago a collector gave me four dateless pieces to attribute if I could, and I was able to do them all. AND they were all 1802 and 1803 pieces.

 

I don't know about the grading services, but variety collectors can certainly spot them.

 

As for the foolishness about owning the worst graded, I don't get it.

[Arizonadesertrat]

"...As for the foolishness about owning the worst graded, I don't get it. \(shrug\)"

 

Neither do I. I always thought that building a coin collection should involve hunting for quality coins, not the lowest possible grade. I think that this is being driven by the registry set craze.

[michael]

correct

 

it is ALL about plastic holders and blue tags the coins themselves are secondary

 

and this is what freedom to spend your money on is all about :cloud9:your money your choice (thumbs u

 

but times and things change

 

and

 

when they do change and they will

 

 

(please see below)

 

 

make sure the coin transends the holder in other words if you break the coin out of its current holder it is worth as much if not more than in the holder

 

these are coins that transend the holder and yes they are out there

 

problem is you got to know which ones they are and buy them that fit your price range and collecting parameters for value, opportuinty and collecting needs

 

 

 

 

 

[Conder101]

There were collectors trying to build collections of the lowest condition they could find back before there were Registry sets. I think the Registry has added to it though

 

Neither do I. I always thought that building a coin collection should involve hunting for quality coins, not the lowest possible grade.

It is a different mindset. If your goal is the lowest graded then these PO1 coins ARE the quality coins and can be much tougher to locate than the high grade coins

[shirohniichan]

There were collectors trying to build collections of the lowest condition they could find back before there were Registry sets. I think the Registry has added to it though

 

Neither do I. I always thought that building a coin collection should involve hunting for quality coins, not the lowest possible grade.

It is a different mindset. If your goal is the lowest graded then these PO1 coins ARE the quality coins and can be much tougher to locate than the high grade coins

 

Chacun a son gout!

 

I can see building a type set or year set of properly graded VF35 coins with "the look" that would probably take me a lifetime to complete. I'm sure more collectors would think "Why waste your time on that crud?" than would think "Cool set!"