An Unlikely Purchase

[coinsbygary]

My latest NEWP is an XF-45 1860-O Seated Liberty Dollar to upgrade a VF-35 1842 dollar from my collection.

 

What makes this purchase unlikely is that I was not looking to add a new Seated Liberty Dollar to my collection nor was I looking to upgrade the one that I currently own. However, while I was browsing a dealers listing looking for other coins, this coin kind of swept me away.

 

What struck me about this coin was its clean original surfaces, the boldness of its devices, and light even wear which seems more consistent with an AU-50 grade than an XF-45 grade. Additionally, you wouldnt think there was much difference between VF-35 and XF-45, but these two coins clearly show otherwise.

 

There is one problem with my new coin though and its a small gouge on the reverse, do any of you have an idea as to what would have caused it? I am posting a picture of the new coin, a blow-up of the gouge, and a picture of the old coin on the chat board in which you can clearly see how much better the new coin is. Over time, I have looked through a lot of Seated Liberty Dollars and I can tell you that there really arent that many nice circulated examples out there. Since I dont need two No Motto Seated Liberty Dollars for my 7070 type set, Ill probably be selling the old coin later this fall.

 

Did you know that casually perusing coin listings can be hazardous to your wallet? Oh well, at least the old coin will subsidize the new one and Ill be left with a better coin for my type set. Gary

 

See more journals by gherrmann44

[coinsbygary]

 

[coin928]

Hi Gary,

 

This is what I call a Coin of Opportunity. I've written about several coins that I've come across where the eye appeal, price, or a combination of both is just too good to pass up. These things happen.

 

It's a nice looking coin, and definitely has a lot more eye appeal than the coin it's replacing. From your detail picture, I don't think that's a post strike gouge. It looks to me more like there was something on the die when the coin was struck. I think it's actually a struck-through error or possibly even a planchet flaw.

 

It will be interesting to what some other collectors think.

 

 

[jpcienkus]

Gary,

 

I definitely know how browsing through coin auctions can cause extreme pressure on the wallet! I purchased a Seated Half and a DPL Morgan this week that I did not budget for, but when opportunity came knocking, I couldn't pass on either coin. They were just too nice.

 

Love your new coin. Agree about the surfaces. Very nice. I wish I could give you an explanation of the gouge, but I'd only be guessing.

 

Joe

[hunter's gold]

Perusing coins + wallet= I have no money too go fishing with. . Sometimes we can't help ourselves. Nice pickup Gary

[RichH]

Nice upgrade Gary !

 

Cheers!

 

Rich

[wdrob]

 

Very nice 1860-O .... As in 'O' that hurt the wallet. Looks like it was worth it nonetheless. (thumbs u

 

 

[johnny9434]

thats a real nice purchase. i wouldnt mind having that myself. best wishes

[jackson64]

Gorgeous dollar by the way Gary...I want to start a type set when I close out my half dollar sets completed.

 

 

[newprepper]

Definitely a nice upgrade.

[coinsbygary]

Thank you all for your kind words! FYI, the old dollar is on its way to Great Collections.

Gary

[e1cnr]

I suspect your 'gouge' is a strikethrough of a small piece of sawdust

 

 

I have seen similar occasionally on early - mid 1800's larger coins

 

greased die when going to sit awhile to help prevent rust

wood sawdust to clean surface un preparation of use

 

sometimes with enough magnification you can see the wood grain

[CaptBrian]

Actually Gary, I think the dent is from shrapnel from a cannon blast during the battle of the Merrimack and the Monitor and it was in the pocket of a fellow on deck.

No, serioiusly. I like the die flaw theory best. Back then they were interested in silver content and weight, not being flawless or quality of strike. It was just, 'pump out the required order' and lets go home.

In the Morgans and perhaps Peace dollars they call them many names, and I think it is getting out of hand. Nearly any mark at all, someone tries to make a 'federal case' out of it, to make it special or odd.

I feel the die error is most simple and plausable.

In that vein, a month or so ago, I was offered one of these, I think, an 1864, and it was in great shape. I showed it to a couple of my coin buddies who know much more than I do, and they looked at it with a raised eyebrow as, 'there is something wrong here, and I can't focus on what' but something'.

Well, I don't have it officially from NGC or PCGS but I think its counterfeit. I will wait until I get to a FUN show or other where a high placed offical set of eyes can tell me if it is real or not.

I have now purchased three stumps. One a very well done 1914 D dime, a 5 ounce Chinese Silver Panda (99% copper) and now this twin to yours.

What gives it away is the date is the wrong size and it seems it was from our dear friends from the Orient also. Boy, when will I learn?

Well, I keep these on display as a warning to others to be sure you know what you are buying, let this be yet another warning.

Capt. B

Hey BTW, NICE COIN