TEMPTED TO BUY ERROR COIN - INPUT NEEDED posted by Augustus

[CSJournals-migration]

I am tempted to buy the following top graded error coin, after a recent journal I did on this specific coin.

 

I recently did a journal on the "CHIIE" error coin and I found it so interesting that I began heavily researching the coin, and images/backstory on this coin. I discovered the top population coin is currently selling on eBay and I am very tempted to buy it ... as I really am intrigued by it. I am a novice to South American coins, so for all you experts out there ... please give me advice!

Is this a fair price for this coin? Do you think that if I submitted this coin raw, I could get an MS grade? Input needed please )

 

http://www.ebay.com/itm/251905400443

 

See more journals by Augustus

[RWB]

Another poster mentioned it, also.

[Abuelo's Collection]

I am tempted to buy the following top graded error coin, after a recent journal I did on this specific coin.

 

I recently did a journal on the "CHIIE" error coin and I found it so interesting that I began heavily researching the coin, and images/backstory on this coin. I discovered the top population coin is currently selling on eBay and I am very tempted to buy it ... as I really am intrigued by it. I am a novice to South American coins, so for all you experts out there ... please give me advice!

Is this a fair price for this coin? Do you think that if I submitted this coin raw, I could get an MS grade? Input needed please )

 

http://www.ebay.com/itm/251905400443

 

See more journals by Augustus

This is a nice little coin, in very good shape. And looks like you can actually place an offer. That said, the price according to NGC is a bit elevated. Now we all know the prices in NGC may not be updated, etc but 300 for a 2 dollar coin is only worth if you really like/want the coin and you exhausted all other venues to find it. If you have been looking for the said coin for ever and you suddenly find it, go ahead. But even if you grant the fact that is the top pop, I think is a bit expensive.

[ddr70-migration]

My comment is this is a variety, not an error. There are some neat error coins from chile that are truly one of a kind. Check out fredweinberg.com under inventory, certified world and ancient there's a 50Pesos Off Center that's more of interest (to me) as an error. Sure, an error was somehow made at the mint (in Santiago) producing a die that struck many coins. Could the gov't of Chile get them all returned? no way!

 

As a modern variety goes it's a bit steep at about $300... in my opinion. A US 1995 1C DDO in NGC 68 is about 125. And you will get all kinds of registry points with a 1C in MS68. HIgh and Low leaf varieties on a Statehood quarter (see Ken Potter's site at http://koinpro.tripod.com/Articles/2004DWiscDieGouges.htm)

might give a good price guide and then discount about 50% 'cause it's not a US coin that we're talking about here.

 

Hope this helps. But sometimes I have to buy the coins that just have to be in my collection despite the guidebook price, rarity and popularity.

 

cheers!