One more collecting goal accomplished!

[brg5658]

Ankur, I think the coin is nice, but I have to agree with Bill. It seems very odd indeed to see a coin you like -- a very hard one to find in "nice condition" as you state -- but then to make the purchase/acquisition "contingent" on a $10 green sticker. Makes absolutely no sense to my brain, but the hobby is flexible, and you can collect however you'd like.

 

It makes sense to me. Ankur is simply looking at possible future market liquidity and for the cost of $12.50 he can be reasonably assured that the coin will have the benefit of a currently accepted marketing tool. Additionally, if I recall correctly, nearly every other coin that Ankur has in his collection has a CAC sticker on it, which might infer (rightly or wrongly) that any coin without the sticker had failed the process. Lastly, if something happens to Ankur and his family needs to sell the coins then the sticker may help, but likely could not hurt, in selling the coin at a fair number. All of that for $12.50 seems like it might be a pretty good deal when looking at a $10,000+ coin. No one else is required to understand the above points, but they make pretty darn good logic to me.

 

Tom your points are well understood and make sense to you...but you're a dealer -- I am not. I know that most dealers also collect (as you do). But, it seems that many of the dealer/collectors just collect differently from how 100% collectors do. It's not better or worse, it's just different. My point was that if the $12.50 "hurdle" was the determining factor on whether you buy a 5-figure coin or not, then maybe you shouldn't be buying with the big-boys at all. I get that the CAC bean functions almost like a sight unseen form of currency on the bourse between dealers, but again that's not my world.

 

My main goal in the hobby is not, and will never be, resale value. Yes, I am conscious of what I spend on a coin, and I like to get a fair price. But the "guess" as to what I can profit on it for in 2, 5, 10, 30, etc. years down the road is never why I buy a coin. I also have very clear instructions for my family of how to liquidate my collection if something were to happen to me. Honestly, unless your family members also collect, the shiny little green sticker doesn't mean anything to them, so designating a trustworthy and knowledgeable person to handle your coins is still the way to go. I actually like CAC as a company, and I think they offer a unique service and fill a niche market for US coin collectors. But, that being said, if I were in the market for an extremely rare coin I would do my homework first and know whether the coin were appropriately graded before I dropped 5-figures. The way the original coin post was worded it made it sound as if (despite the rarity and difficulty in finding a nice example) the 1807 would have been passed on if the little sticker test failed. That's the part that doesn't compute in my brain.

 

End Rant.

[AnkurJ]

Thanks for the kind words everyone!

The $2.50 is by far the most difficult to find in truly problem free condition. I have seen a few examples pass auctions and at major shows, but they were all scrubbed with no originalality left.

 

Ankur

[brg5658]

 

1807 $2.50 PCGS XF45 CAC

 

 

 

 

Ankur, I would love to see all three of these coins imaged using the same lighting. They seem to be imaged using quite different lighting/techniques in your pictures. It's hard to tell how their surfaces compare. I think the 1799 is my favorite of the group...just stunning. (thumbs u

[AnkurJ]

BRG: What are your thoughts on this coin? Would you buy it if you needed it for your collection? If no, why?

 

Edit: There should have been a link here:

http://coins.ha.com/c/item.zx?saleNo=416&lotNo=3498

[brg5658]

Ankur, this is not my realm of collecting at all. I can say that I find the 1807 attractive, but I would never drop $15K+ on a coin I knew nothing about (which is what I know of this coin -- nothing). You know a lot more about early gold than I do, so I in no way am judging or criticizing your decisions -- it's your money and your collection, so ultimately it's your decision.

 

I collect what some people would consider weird coins, or at least undesirable to them. One of the most appealing things about this hobby is that there is no rule book for how to do it. I would have to do a LOT of research on the series before I could even have an opinion about whether I would buy it.

[AnkurJ]

I forgot to paste a link in my above post. Look at that coin and give me your thoughts.

[mkman123]

the 1839C is pretty but I know nothing about them. I would probably get someone like Mark Feld or TomB to look at it for me if I even had the money and if they like it then I'm cool.

 

 

[HCumberdale]

I'm not sure I understand why the value of the coin has anything to do with whether the OP should or shouldn't be doing more research before he purchases something. Similarly I don't think the disparity between a $12.50 sticker and a $XX,000 coin has any relevance.

 

People have different finances and what is considered discretionary spending money to one is not the same for another. Who am I to judge how one spends their money if they have the funds to do so?

 

We are told all the time to collect what we like. Similarly I think we should collect HOW we like.

 

My realator told me that recently one of his clients purchased a home because when they pulled into the driveway their dogs had a good feeling about the place. Who am I to judge? Perhaps I should have done similar because our dog has taken to peeing all over our new place!! Maybe they knew something we didn't!

[brg5658]

BRG: What are your thoughts on this coin? Would you buy it if you needed it for your collection? If no, why?

 

Edit: There should have been a link here:

http://coins.ha.com/c/item.zx?saleNo=416&lotNo=3498

 

Ah, this makes more sense with a link. Though I'm not sure why you're asking my opinion on a coin from a series I don't collect. Is this a test of some kind?

 

My thoughts on the coin are not many. As I said, I basically know nothing of early US gold. If I were in the market for a type coin -- from an eye appeal standpoint, I believe a much nicer later date example could be had of the series. I don't like the prominent spot on the ear on the obverse, and the fields are scratched all to heck. The reverse is also just sort-of blah for me. The grade looks to be in the ballpark. From HA pictures, there isn't much else I can tell.

 

Ankur let me stress again, I wasn't "judging" you in any way with my posts. I was merely typing out my thoughts, prompting discussion. As Jason once said, when you post a coin here you are opening yourself up for comments and discussion -- that's what these boards are.

 

My surprise with your original post was based on the fact that I know you are also a coin dealer. For a dealer to rely on the "blessing" of CAC before committing to buy a type-set gold coin for his own collection from another well respected dealer's inventory seems odd to me. It's one thing to buy a raw coin from a series; some peace of mind can certainly be had by buying a certified coin. It's another thing completely to need to get a 3rd opinion (PCGS, Winter, and then Albanese). I am a proponent for collecting what you like, and liking what you collect. If what you like is what Albanese likes, then so be it. That's your prerogative.

 

I will also say that I have purchased a coin from you. It's actually the only CAC'd coin in my collection, and it is an attractive coin -- it will be in my collection for a very long time. Also, your inventory is full of sexy CAC'd coins -- so I don't think CAC-fever is leading you astray. But, with recent posts on may forums I start to wonder if CAC has strayed to the realm of a religious experience for some collectors.

 

OK, philosophical rant over.