Opinion Please: 1941 S NGC MS68* (star) FB

[Mergula-migration]

Hello Everyone,

 

It has been a while since I posted last, but I found everyone's advice last time very encouraging and helpful. So I wanted to return with my next potential purchase.

 

I am looking seriously at a new addition to my Mercury Dime collection.

 

Here are some nice photos of the coin I am looking to make an offer on.

 

Based on my research of prices realized for this same coin, NGC registry numbers match, it was sold in Jan of 07 for $1328.00.

 

The asking price now is $1899.00. I understand that NGC (star) grading demands a premium, but deciding how much that is can be tricky.

 

So the advice I am asking for is this, If I offer in the 1400-1500 price range, would this be considering under bidding the coin, and be insulting, or is that reasonable?

This coin is a premium coin, and a date I need in my collection, but I don't want to be too hasty.

 

Anyone have some opinions on the coin itself, and the approach I am taking in making offers? Or should I keep shopping?

Is there a proper procedure or standard for making offers, on coins that are graded above the standard pricing guides?

 

Thanks for your time, and any advice you have.

Shawn

[TomB]

To tell you the truth, I believe the coin has marginal eye appeal and that it must have terrific luster to have gained the MS68*FB grade and designation. The coin also apparently also last sold in the January 2007 FUN Signature Sale conducted by Heritage as lot 2763 for $1,328 and change. In my opinion, the Heritage sales price was an indication of what other dealers and collectors thought of this coin. In other words, they did not like the piece very much since most other Heritage sales of NGC MS68FB 1941-S Mercs were at higher levels. Also, Heritage alone lists this date and grade/designation combination quite often if you realize that over the last three years they have offered it 21 times, which is quite remarkable.

 

Other than those observations, I see no reason why you should buy a near generic coin at 43% over its last sales price just five months previous. In my opinion, this coin sold at a well advertised public auction very recently and sold at the maximum that it was worth at the time, which is also the maximum that it is worth now, and that paying even that amount was too much for the piece.

[MunkyMan95]

That's a beautiful coin!

 

[Tradedollarnut]

What is the price of a nice MS67? Can you personally tell the difference in quality between this MS68* and the MS67? If not, or if just barely, perhaps you are better off with the lower graded coin?

[Mergula-migration]

Tom,

 

Thank you very much for the information and your opinion on this matter. Considering the following information you have given me and the number of times this coin has appeared for sale, I think I will keep shopping, before deciding on my next MS68 FB Merc. dime.

 

Again thank you for your time and opinion.

 

Shawn

[BillJones]

My “wheelhouse” is early American coins, but I dabble with this stuff too.

 

The only reason to buy this coin at the price offered is to pump up your registry points. Otherwise this coin does not impress me at all. A coin that gets graded MS-68* should take your breath away. I just look at this piece and say, “Nice coin, but certainly nothing that outstanding when it comes to overall eye appeal.

 

Edited to say:

 

I know that this 1832 dime was struck more than 100 years before the piece you are considering, but I think it makes a point.

 

I usually don't buy MS-65 graded coins, but when I saw this one I decided to take the plunge. This piece is an NCG MS-65 with NO STAR. Given the great look of this coin, I can't see why it didn't get one. At any rate I bought this within the confines of Gray Sheet "bid" and "ask."

 

[Broc Mitchell]

I do not buy the Full Bands designation on this coin. The left portion of the center bands is too mushy in my opinion. Some coins just make it through on a distinguishable 'line' across the center bands but that shouldn't cut it. Full bands should look like this:

 

 

-Broc

[MarkFeld]

To tell you the truth, I believe the coin has marginal eye appeal and that it must have terrific luster to have gained the MS68*FB grade and designation.

I'm guessing that the coin in question is one of a group of flashy, semi-prooflike or prooflike examples of that date I have seen and that it received the NGC star designation for that reason. Still, I'd feel far more comfortable with an MS67 with similar characteristics at a fraction of the price.

[relicsncoins]

I suppose if you had to have a slab that had a 68 on it, but I just don't see the appeal that would justify paying the kind of price that coin would bring.

 

JJ

[coinman1794]

I say this in the context of myself owning 3 coins from the same set of dies--all of which are solid PL--yet not 1 was labeled as such when I bought in NGC plastic. There is a high probability that this will be an MS68FB PL upon resubmission, though I cannot say for sure without in-hand inspection. That coin is Prooflike but NGC chose to give it a STAR rather than a PL. There's a small chance its a later die state (though it doesn't appear to be) and just missed a PL designation, or they may have been too hard on its mirrored luster. It did not receive the STAR because of eye appeal!

[Mergula-migration]

Thank you all very much for taking the time to give me your opinion. After looking at the coin again I can see both MarkFeld and coinman1794 reference to the coin being more PL then striking eye appeal to get a (star) designation. So I certainly feel confident that this is a good coin to pass on and keep shopping for something else.

 

I am certainly glad I asked first instead of purchased first.

 

Thanks again

Shawn

[James_OldeTowne]

I'm guessing that the coin in question is one of a group of flashy, semi-prooflike or prooflike examples of that date I have seen and that it received the NGC star designation

I was thinking the same thing. This is probably the most prevalent PL date in the Mercury dime series, and even the image makes it appear so. There really is no price "guide" for such an esoteric coin.

[michael]

a coin worth less than $250 out of its current holder

 

pass big time.....................