Afternoon everyone…..
I wish that I had the funds to obtain a complete a United States gold coin type set. But I don’t.
So…..
I constantly check several auction sites for coins that are being overlooked or are well under their value with the current winning bid.
Now, neither of these happen very often. But when they do you need to pounce on it.
While listening to some podcasts early last week. I came across this gem. This listing was from an inexperienced seller, so I immediately pounced.
Obviously from the picture you know that it’s a gold coin. But it’s not just any old gold coin. It’s an 1851 type 1 Philadelphia strike $1 US gold coin. It’s been graded by PCGS as an MS62. But after looking through my 30X power loupe and seeing the luster on it. I disagree with the grade. I think it should be a little higher. It’s a super crisp example. But….
This coin normally sells in the $500-$600 range in this grade. Well I was able to pick this exact coin up for less than the lower end of that. It was a deal I couldn’t pass up.
The mintage on this coin at time of issue was 3,317,671 coins. The experts in their opinion less than 15% have survived. So that’s roughly half a million in existence. Between the two most well known grading companies PCGS and NGC, there are only a little over 5,000 reported examples of these coins in mint state condition. That’s only 10% of the coins, they believe still exist.
Here is some coin info:
Features
IssuerUnited States
PeriodFederal republic (1776-date)
TypeStandard circulation coin
Years1849-1854
Value1 Dollar (1 USD)
CurrencyDollar (1785-date)
CompositionGold (.900) (.100 copper)
Weight1.672 g
Diameter13 mm
ShapeRound
TechniqueMilled
OrientationCoin alignment ↑↓
Obverse
Liberty Head left, 13 stars around
Script: Latin
Lettering:
LIBERTY
L
Engraver: James Barton Longacre
Reverse
Face value and date a wreath
Script: Latin
Lettering:
UNITED STATES OF AMERICA
1 DOLLAR
1852
Engraver: James Barton Longacre
Edge
Reeded
I am very happy to have won this….
