Scarce 1873 No arrows, Open 3, Seated Liberty Dime

[RGT]

I've been contimplating putting this up on ebay, but I'm not sure if this variety is fully appreciated by the ebay market. The 1873 with arrows variety gets all the attention since it is a type coin. But this variety has a low mintage of only 60,000 and doesn't come up for sale nearly as often.

 

My problem is, I don't know how to price this coin. I know some of you keep up with the seated liberty coins much more than I do. I think the coin has EF45 or better details, but the surfaces are not quite pristine, as you can see in the image. Still, I think it's an original coin that's never been messed with.

 

 

I will entertain any offers. Even if you don't want to buy the coin I would appreciate any value comments you may have.

 

Thanks.

[James_OldeTowne]

Randy,

 

Unfortunately, the mintage figure for this coin belies it's actual rarity. It's a little tougher issue, but not very difficult. It just so happens that I purchased a really nice VF-20 coin for my wantlist late last year for $50, and that is exactly 10% below current greysheet bid. So, with bid being currently $95 in EF-40, I would guess your coin to have a true value of $86 right now. At least, that's what I would offer if I needed the coin. Of course, I'm quoting what I'd pay as a dealer, but one can assume that, even at $50, the dealer I bought the coin from made a profit as well. Oh, and I sold the coin for $55 retail, which is actually "bid".

 

I think that many of the lower mintage figures for coins in the Seated series are somewhat misleading, in that the coins still had a high percentage survival rate. That, combined with current low interest in the series, leads to values that I think lag behind sheet prices. However, certain of the world's hugest coin dealing companies like to hype up the low mintages and beguile bidders into paying too much for them.

 

Hope you find a strong buyer!

 

James

[RGT]

James, I'm sure you know much more about these than I do and I thank you for your input. I haven't been in the market looking for one or trying to sell one. I picked this one up 5-6 years ago, pretty much by accident.

 

I said they were scarce based on the low mintage and my brief search of auction history. I searched Teletrade and only came up with four 1873 dimes sold in EF, all with arrows. A search of Heritage auction archives lists 30 1873 dimes sold in XF. Only one of these is the no arrows, open three and it just sold three days ago. It wasn't there when I made my initial search. It was an ANACS EF40 that sold for $80.50 which is in line with your estimate.

 

I know my search results are skewed because they only show certified examples and only in EF. This coin probably doesn't get certified in EF very often. Still, if I was actively searching for one I think it would be a good bit more difficult to find that the arrows variety and it seems that it is priced just a bit lower.

 

Doing a quick search on ebay just now I found one that sold for $50, but it looked like it had been found in a gravel pit. Another was offered at $86 but didn't sell. It looked overgraded and it may have really been a closed three coin.

 

So, do you think I could get a fair price on ebay with a low start and no reserve? Or do you think no one would notice and I would get a closed 3 price?

[James_OldeTowne]

You'll probably get cheapskate bids on eBay and end up grossing $50 - $60. If you do eBay it, let me know, and I'll "help out", if you know what I mean ....

 

I would contend that only a very small percentage of Seated coins, and especially half-dimes and dimes, get certified in AU or lower, because frankly, any collector who is really looking for them would know how to grade them himself, and likely isn't too concerned about processed or altered coins. It's one of the easiest series to grade, they aren't heavily counterfeited, and other than a few rare Philly coins that can be faked by removing mintmarks, not too many bogus coins are around.

 

I've made the comment before that such coins are actually worth more OUT of the slab, because most collectors want them for their album anyhow, and perceive the slab as an added-on cost. The $20 overhead it costs to slab such a coin might net a return of an extra $5 - just not worth it. And in my experience, being in a slab definitely does not move the coins any faster. I have to nod my head sometimes when I see a dealer's case with a bunch of slabbed Seated coins realistically worth $10 to $40 apiece.

 

James

[RGT]

I never considered getting this one slabbed. Like you, I see no point. I don't submit coins often, but I pretty much want one to be worth more than $100 before I will bother. I did have a classic commem come back a point lower than I thought it should which would drop it below that level though. I still think it's the higher grade, but probably not worth a second fee to get it there.

 

Maybe I will list it on the BST across the street. I haven't been banned there yet. I wanted to give this side first dibbs and get an estimation of value.

 

If I put it up on ebay I'll post it here so you can snipe it for $29.98. Just don't forget the $49.95 shipping charge.

[BankNote1]

List it on eBay with just a BIN price. This may cut out many bidders but this will protect you. This is the way I sell most of my coins.

[RGT]

I just posted this across the street asking $100 delivered. If I don't get any offers it will probably make it's way to ebay or back in a dark hole in the recesses of my collection.

[HaydenTubbs]

Nice piece!

-Hayden

[RGT]

Thanks Hayden, and thanks for stepping in for me across the street. If you are interested in it feel free to make an offer. I'll give you the NGC board discount.

[HaydenTubbs]

Randy,

Why do you still have a thread for a sold coin?

-Hayden