Isn't this excessive for this coin?

[MikeKing]

Or am I missing something. I didn't expect this coin to be bid upwards this high. Why do you think?

 

Heritage Auction

[IGWT]

I'm not sure that it's true across series, but varieties listed in the Redbook seem to be leaders in the bull market.

[TJ'S Coins]

I just checked the PCGS price guide. It lists for $3000 in AU and $4000 on MS60. MS62 jumps to $6000. This coin has a nice strike for year and variety. This is a case where an AU may look better than a low MS grade. It looks to me like it may have been dipped and then allowed to retone in an album for several years. This coin looks too "clean" for a 199 year old silver specimen. Hard to tell about the luster from the picture but I imagine it has the right amount for the grade. Bust Halves are hot, especially in good condition and without noticeable detracting marks. But double the price? The seller certainly doesn't mind.

[TomB]

Because the market for dipped, no original surfaces remaining 199-year old type coins is rather strong at the moment.

[TJ'S Coins]

Tom, I'll stick with those naturally toned, original skin coins that the smart money avoids as investments. The more they buy the dipped stuff, the better chance we'll have for the good stuff.

[James_OldeTowne]

It is a little excessive at $7500, but not terribly so! That coin has a remarkable, stunning strike for the issue, including what appears to be nearly a full left wing (facing) on the reverse, and virtually complete obverse hair detail. Note also how every star has detailed centrils. It's an 1807 O-112, better known as the 50/20, and you simply cannot find them like this. Although the coin appears lightly cleaned, the fact is that you just cannot find a 112 with that kind of strike, both obverse and reverse.

 

Years ago, I sold an NGC AU for well over MS-60 money. As a matter of fact, I loved that coin so much that it's cropped image is the background for the "silver" section of my website. Here's what that looks like::

 

 

I also very recently sold an EF-40 (my grade) for $1100, which based on the coin you've linked, was probably much to cheap, but it's to a good customer who is a true collector and truly appreciates the coin. My coin is relatively "well struck", but the linked coin is incredibly well struck!

 

Here's an image of my ex-coin:

 

 

James

[MikeKing]

I love the surfaces on the coin you sold.

By the way, the Heritage coin went for over $8,000.00.

I still don't understand it.