1839-C

[cameron12x]

I don't own this coin but I am curious what folks think for a technical grade:

 

 

What would such a coin be worth?

[Walkerfan]

AU 55

[BillJones]

Sadly AU-55 might be the grade going by today's lax standards for Classic Head gold, but I'd be in the EF-45 to AU-50 camp. The coin has a fair amount of of detail, but it got lots of marks, especially on the all-important obverse, and the surfaces have been lightly cleaned. It is not a coin that would have me jumping up and down from the preservation standpoint.

 

PCGS graded this 1838-C quarter eagle AU-55. I think that grade is accurate.

 

[MarkFeld]

The coin looks AU55 or thereabouts to me.

[BillJones]

Yes, and grading like that is why it's so hard to buy quality Classic gold coins in AU holders these days. The really nice AUs are graded as Mint State pieces at far higher prices. I can't tell you how disappointed I was in the appearance of an 1839-D quarter eagle that was in an AU-55 holder at $10,500.

[L1ncolnF4n]

AU range

[johnny9434]

au 53. jmo

[physics-fan3.14]

I'd call the OP's coin an AU-53/55. It's definitely not EF as Bill asserts - there isn't remotely enough wear to knock it down that far. The old timers always lament the loosening grades, but I don't see how you could justify that as an EF.

[FishyOne]

I'd call it a nice AU50. Maybe a 53.

[BillJones]

I'd call the OP's coin an AU-53/55. It's definitely not EF as Bill asserts - there isn't remotely enough wear to knock it down that far. The old timers always lament the loosening grades, but I don't see how you could justify that as an EF.

 

The surfaces are not nice, and the coin has been cleaned. Compare it to my 1838-C in AU-55. Do you think those coins are in the same grade? I would not object to the AU-50 grade, but I would not buy the piece.

[cameron12x]

I'd call the OP's coin an AU-53/55. It's definitely not EF as Bill asserts - there isn't remotely enough wear to knock it down that far. The old timers always lament the loosening grades, but I don't see how you could justify that as an EF.

 

The surfaces are not nice, and the coin has been cleaned. Compare it to my 1838-C in AU-55. Do you think those coins are in the same grade? I would not object to the AU-50 grade, but I would not buy the piece.

Bill--I love your 1838-C example. It's awesome! Want to trade? (kidding) Even though you wouldn't buy this example, what do you think that it is worth?

 

Do you have a 1839-C example to share?

 

Collectors of southern classic gold who have the funds to obtain pristine examples are a rare breed.

 

The unfortunate thing is that most of the Classic Gold pieces have been cleaned or altered in some way, and that's just sad.

 

Having said that, I would probably purchase this piece if the price were right.

[BillJones]

I'd call the OP's coin an AU-53/55. It's definitely not EF as Bill asserts - there isn't remotely enough wear to knock it down that far. The old timers always lament the loosening grades, but I don't see how you could justify that as an EF.

 

The surfaces are not nice, and the coin has been cleaned. Compare it to my 1838-C in AU-55. Do you think those coins are in the same grade? I would not object to the AU-50 grade, but I would not buy the piece.

Bill--I love your 1838-C example. It's awesome! Want to trade? (kidding) Even though you wouldn't buy this example, what do you think that it is worth?

 

Do you have a 1839-C example to share?

 

Collectors of southern classic gold who have the funds to obtain pristine examples are a rare breed.

 

The unfortunate thing is that most of the Classic Gold pieces have been cleaned or altered in some way, and that's just sad.

 

Having said that, I would probably purchase this piece if the price were right.

 

AU-50 Gray Sheet bid is $4,500, and AU-58 bid jumps to $11,750. That spread tells me that there are more than few less than attractive AU-50 graded coins out there. If I could not afford the $11,750, I guess I'd settle for the $4,500 piece, but experience tells me that you won't buy either coin for bid or close to it; it will be more.

 

I don't own an 1839-C quarter eagle, but I've been in the market for an 1839-D. One AU that was offered to me was washed out with no luster and had distractiing scratch on the obverse. The asking price was over $10,000 with bid pegged at $7,500. The coin was an instant pass for me. The dealer asked for a counteroffer, but I didn't have one. I didn't want it for $7,500. He had another one in an MS-61 holder that was really an AU-55 for over $20k. I passed on that too, but a dealer bought it. Maybe I'm too fussy.

 

There was a PCGS MS-62 at a recent auction that sold for close to $40,000. I was willing to pay a several less than that, but it got one bid above the reserve and sold.

 

The trouble is I don't see AU-55 graded pieces that look like the 1838-C I own. Most of them seem to end up in low end Mint State holders for more than $10,000 over the AU price. For this stuff grade-flation is the order of the day, and collectors seem to be willing to pay for it.