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A GREEN Business Strike Indian Head Cent

Started by TomB,

22 posts in this topic

TomB

TomB

Posted
Posted

Business strike IHCs simply do not turn green with any frequency, therefore, when the opportunity arose to purchase one of these greenies I had to act quickly. However, I hesitated on the coin, not only because of the true rarity of a green business strike IHC, but because the lighting on the bourse made the coin look too green. In other words, I was not certain that I believed the coin to be completely legitimate at first glance and in those viewing conditions.

 

I was torn. The price attached to the coin might be considered aggressive by some, but really was not all that much considering the rarity and eye appeal of the coin. I knew the dealer who was selling the coin had just bought it, had a firm price in mind and was looking to make a quick profit on the flip. I also knew that a dealer two tables down from him specialized in toned coins and would be quite interested in obtaining the coin. I decided to pass on the opportunity to acquire the piece immediately. This was done in order to think about the coin and perhaps set up an appointment to see it again in different light. Of course, it might have been sold in the interim, but I was betting that the firm price quoted to me might be a little high for another dealer to bite on without hesitation. I took the dealer's cell phone number and went home. As I walked out of the show I could see the dealer who specialized in toned coins walk over to the table and noticed the coin was being taken out of the case and handed to him.

 

That afternoon I thought about the coin, and in the evening after dinner I called the dealer. He knew immediately why I called and we agreed to meet two days later in a hotel lobby in downtown Providence, RI. At the same time I sent emails and private messages to a handful of folks in the hobby-industry whom I believed might be able to hear out my thoughts and give insight. I had made up my mind that the coin was definitely worthy of another look and inspection, and that the trip to Providence would at least satisfy my curiosity even if I passed on the coin.

 

We met at 10:00 AM and both thought it would be a quick transaction. He handed me the coin, I flipped it a few times in different lighting and knew immediately that it was completely original. I then handed him the cash and we chatted...and chatted...and chatted...for about two more hours. At the end of our discussion the dealer told me that about 45 minutes after I had called him on Sunday night that the other dealer, who specialized in toned coinage and who had also seen the coin that afternoon, had called him to buy the coin. He told the other dealer the coin was reserved and about an hour later received another phone call from the same person offering substantially more money for the coin if he broke our deal off. Obviously, the dealer trying to buy the coin out from under me had a quick and profitable flip in-hand.

 

The dealer who then owned the IHC told me that although he and I had just met that afternoon, he knew that I knew what I was doing, but he didn't know if I was just blowing smoke about buying the coin. Well, I wasn't blowing smoke.

 

In my opinion the IHC in question, an 1882, has entirely legitimate toning. Additionally, the coin has severe die erosion on both obverse and reverse and has a substantial die crack running along the bottom of the reverse. I guess this should not come as a surprise since the cent was such a workhorse of the economy and the Mint was making large numbers of them.

 

At first glance this 1882 is a solid, deep brown, but when tilted in the light the colors become vibrant, change with rotation and provide good cartwheel luster. The obverse field is largely green with some of the recessed areas of the portrait violet with the letters a slightly different shade from the field. The reverse is similar with some violet color within the central portion of the wreath and a myriad of toning flecks beneath the green. The colors change in intensity and hue when rotated, just as I would expect them to do for this type of toning. Overall, I am delighted with the piece and quite happy the initial dealer did not simply flip it out from under me for a larger initial profit. This is a person with whom I will definitely try to do business with on some sort of regular basis.

 

There is no realistic hope of me being able to capture the colors on this coin, so it was sent to Mike Printz in order to get a quality image taken. The images are quite true-to-life when the coin is looked at head-on, with a deep, lustrous brown overlaid by hints of mossy, forest green. What has not been captured is the incredible explosion of deep green with violet undertones since these colors jump out when the coin is tilted. If the coin were raw then I believe that Mike would have been able to capture its colorful look, but the piece is in a PCGS MS65BN holder that is somewhat scuffed. This is one coin that I am seriously considering sending to PCGS for their TrueView service in order to get a colorful image to complement the accurately portrayed brown image. The coin is below.

1447777-CopyofB1882P65BN.jpg

1447780-CopyofB1882P65BNR.jpg

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WinstonWare

WinstonWare

Posted
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Overall, I am delighted with the piece and quite happy the initial dealer did not simply flip it out from under me for a larger initial profit. This is a person with whom I will definitely try to do business with on some sort of regular basis.

 

I make that same effort. It’s not easy to find a knowledgeable trustworthy person to do business with although I will say that this board has helped me find a couple.

 

Nice story and fantastic looking coin thumbsup2.gif

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hoard

hoard

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Nice coin, and thanks for the information on the monthly show so close to home. I have not been to a coin show in many, many years. I have just penciled this next one into my calender. thanks.

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kryptonitecomics

kryptonitecomics

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As a former owner of a knockout business strike Green IHC (PCGS MS64 rattler) I know how impossible it is to find that color without breaking the bank!!! I paid many multiple of guide to get mine and only wish I could have hung onto it. frown.gif

 

You have a good eye Tom.... 893applaud-thumb.gif

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TomB

TomB

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Some of what you are seeing as missing details is actually due to the scuffed-up nature of the PCGS holder. When the coin is back in-hand I can give you a better answer as to the entirety of the strike.

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relicsncoins

relicsncoins

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Either way, it's still a beautiful coin. Speaking of business strikes with color, I still can not get a diffinitive answer as to the toning on this coin. The color is eye popping and the luster is absolutely booming. I'm thinking about sending it in just to see what the "experts" say. I've shown it to alot of people including a bunch of dealers at the ANA show in Denver. If I had to guess about 70% said NT and 30% said AT. The coin was only 14 bucks on a bad photo from ebay, so either way I'm not out any money if it turned out to be AT. I like it anyway, so it doesn't concern me a bunch, but it would still be nice to know.

 

JJ

 

 

 

1906buo.jpg

 

 

1906bur.jpg

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SkyMan

SkyMan

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MAN, Tom, that coin looks VERY cool!!! Even in this image the toning looks very tasty! Did your Mom tell you to eat your greens when you were a kid? smile.gif

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braddick

braddick

Posted
Posted

Very nice.

It would be pretty to have a set of these- each with a different color, holdered in an NGC multi-holder.

Red/Orange/Green/Blue/Purple.

 

It would make for a lovely display.

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EZ_E

EZ_E

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Tom, this was an interesting write up. You have a great writing style which kept me enraptured in the whole story. Sweet coin. And I was very impressed with the dealer's integrity.

 

Here is a photo that shows exactly how difficult it is to get the multi-faceted look of a coin in but a single photo:

 

1363641-twocentreverse.jpg

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