Just bought this coin well below wholesale, what do you think?

[libertycoins-migration]

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3971855352&rd=1&sspagename=STRK%3AMEWN%3AIT&rd=1

[TomB]

I'm at work right now and the monitor I use here shows images somewhat darker than they are, so I will tell you that the pictures supplied do not appear very good.

 

My question for you is this: Why did you buy this coin? That is an honest question and I asked it because MS61 graded coins typically have very poor eye appeal and are graded as MS61 either because of a large number of hairlines or because they are really AU58 coins that have flash. In either case, these are usually difficult coins to resell unless someone needs it for a date set. This brings me to the series that you bought the coin in, and it is not a series that has many MS or PF date set collectors. The Seated series is just about the quintissential type set collector series and, as such, there is almost no demand for MS61 graded coins.

 

So, what I wrote was no doubt different than what you were thinking when you bid, but you did ask for what we thought. What are your thoughts?

[libertycoins-migration]

Tom,

Before purchasing this coin, I asked the seller for better pictures, which he provided. The coin is all white, which is somewhat uncommon for a seated liberty from the 50s. I usually specialize in $2.5 Liberties. However, at a recent trip to the coin shop I saw a beautiful seated half in XF. This single coin really turned me onto this series. I personally think that this series is much more aesthetically pleasing than later series (i.e.-Barber, Franklin, Walking Libs.). Furthermore, I am only 18 and simply cannot afford a MS 63+ coin . I figured that this coin had nice eye appeal for the grade and given the price it I felt as if I couldn't resist. I am not looking to resell this coin, I am simply diversifying my collection. Hope this clears things up for you.

 

Nick

[HaydenTubbs]

I'd say you got a nice coin for only 25c over bid.

In fact I'll make an offer of $316.25 on it

-Hayden

[nwcs]

It's a nice coin but been dipped and stripped which is why it's only a 61. Still, a nice seated lib is hard to come by. And I like the earlier date seated libs more than the later date ones.

[CTcollector]

Nick

 

I do agree with you that the seated series is more aesthetically appealing than barbers and contemporary designs. I even feel seated coins are somewhat undervalued compared to most 20the century series. However, as others have already indicated, the coin you purchased has been commercialized (stripped and dipped). Personally, not a look for me. I'm a traditionalist that prefers original unmessed with coins even if it means I need to pay a premium. They are even more uncommon than the "all white" look you mention. It may sound like I am knocking your coin a little bit, but my intention is to answer your question honestly and maybe offer you a different perspective.

 

May I ask why you did not go for the XF coin at the dealers shop if that is the one that really turned you on to the series ?

 

thanks,KEN

[DaveG]

Admittedly, the pictures for the auction aren't that good, but the coin looks all white to me, which suggests that it has been dipped; if so, I wouldn't be interested in it.

 

In general, if a coin is cheap, there's a reason for it. If you're lucky, it's because the coin market is down or the seller needs cash or that particular coin isn't popular at the moment. If you're not lucky, it's because more experienced collectors don't want that particular coin.

 

I'd say that, if you're interested in Seated coins and buy more of them, that you may find, after a few years, that you don't like them dipped, either.

[libertycoins-migration]

I am just recently starting to get into old silver coins. I primarily collected gold for a while. So is it safe to assume that all 'white' coins before 1900 are dipped? I thought NGC/PCGS didn't grade dipped coins?

[HaydenTubbs]

I am just recently starting to get into old silver coins. I primarily collected gold for a while. So is it safe to assume that all 'white' coins before 1900 are dipped? I thought NGC/PCGS didn't grade dipped coins?

I'm rolling on the floor laughing,of course they grade dipped coins!

[libertycoins-migration]

real funny making fun of an 18 year old. great sense of humor there hayden...

[gmarguli]

I am just recently starting to get into old silver coins. I primarily collected gold for a while. So is it safe to assume that all 'white' coins before 1900 are dipped? I thought NGC/PCGS didn't grade dipped coins?

 

Yes, it is safe to assume that all white silver coins before 1900 are dipped. It's not a 100% fact, but it is a safe assumption.

 

All services will grade dipped coins provided they are dipped properly. It's harshly cleaned coins they will not grade.

[libertycoins-migration]

Thanks Greg.

[airplanenut]

Before purchasing this coin, I asked the seller for better pictures, which he provided. The coin is all white, which is somewhat uncommon for a seated liberty from the 50s.

Unfortunately, that is, as others have said, because the coin is original--any coin can be white with the right chemicals.

 

I personally think the coin is going to look ochattery and just unnatural, to say the least. I have to agree with Tom that MS61 tends to be an unattractive grade.

 

With regard to pre-1900 white coins... most are probably dipped. You can still find white morgans that aren't toned, nor dipped, however. But not completely white--they'll have an original skin that's slightly off-white, if not darker toning.

 

Jeremy

[TomB]

As others have written, and I guess you are now learning, most pre-1900 coins that are all white have been dipped at least once. Also, not only do PCGS and NGC (and every other TPG for that matter) slab dipped coins regularly, but they also slab coins that have obviously been cleaned. I would bet that the EF coin, if original, would cost less than this coin and be much easier to sell should you ever decide to change directions.

[Oldtrader3]

There are white pre-1900 coins out there that have a "skin" of relatively thick white toning on them, particularly in the fields (see attached scan). These coins may or may not have been dipped. Many Morgan and Peace dollars have this type of natural toning from storage in mint bags.

[McKinley-migration]

well you know you can sell it for what you paid for it so who cares.. just enjoy it until then. i think it looks great, and i'm impressed with what you do.. especially at your age.

[libertycoins-migration]

thanks mckinley

[SilverDollarMan]

Yes, welcome to CS, don't take it too hard. If u like the coin....thats all that matters

[CTcollector]

Hey Nick,

 

If you think you may have a budding interest in seated coinage, may I suggest you consider joining the Liberty Seated Collectors Club. Yearly membership is $15. You would recieve a detailed periodical three times a year (gobrecht journal) and there are club meetings at major coins shows. You would certainly have an opportunity to increase your knowledge on the series.

 

Also my parting advice on your original post - is ultimately you need to decide what excites you in the coin universe, but make sure you are educated on what you are buying. There are alot more bad deals than good deals to fall into, particularly as you are starting out. All of us have been there.

 

thanks,KEN

[Merc]

I don't think the coin is that bad. Sure, it has been dipped, but it is a MS61 so it is not too expensive. I am certain the buyer would like to have a MS65 one with beautiful toning, but that is not in his budget now. This is a nice example of a uncirculated seated half. In the future when he wants to upgrade, he can sell this one and get his money back.

[SilverGigolo]

Have they been dipped or cleaned by a collector of forty or fifty years ago when cleaning the coin was not frowned on like it is today. Is it easy to tell the difference?

[supertooth]

Nick--libertycoins----- I am a little late into this thread but I offer you the following: first is not to be disheartened by what you bought. Like a lot of us, you thought PCGS and NGC only certified uncleaned and undipped coins. I too thought that awhile back. After all, they lead you to believe that is true. They do not ever say that they would do otherwise. Secondly, listen to TomB, CT collector and Dave G. What they said is true. Years ago [and still to this day] I said the pictures on Ebay could be very deceiving. Well----THEY ARE----more times than not. Thirdly---read books----buy books---read books----buy books. And look at lots of coins----lots and lots of coins. Do it with them in your hands if you can. But do it with the pictures on Ebay. If you do it enough, you can tell a "bad"----dipped or cleaned---coin pretty darn well after you have been at it awhile. Lastly---do not be afraid to collect VF and Xf and Au coins. You can tell their originality better than you can tell an Unc coin. And many times it is, in my opinion, a more beautiful coin than the uncs. An Xf coin has "all" the details present pretty much. It has a story to tell. And it will appreciate in value over the years if you buy well. Good luck and do not be afraid to ask more questions. There is not an advanced collector out there who has not gone through what you are learning and experiencing at your tender age of 18. Heck, I am still very much learning and I am 58. Bob [supertooth]