Cent Draped
Could somone please grade and estimate value of my 1797 Draped Large Cent?
Yes I am an amatuer coin collector; mostly half barbers and seated libertys. I just bid and won my first draped large cent. It is a 1797 Sheldon S-138. I have provided the link so you can view the coin. I want to think I got a good deal on this coin, but am no expert in grading Large cents. I love to hear your opinions please. Thank you so much .. here is the link.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290408146251&ssPageName=STRK:MEWNX:IT
The majority of these coins that I have sales information on are ‘problem’ coins, with corrosion of varying degrees being the problem.
As such, they will not find their way into PCGS or NGC holders. ANACS and NCS do certify problem coins. While ANACS will give a net grade below what the grade would be without the problem, NCS will only assess the coin as genuine while giving the details of the higher grade.
Thusly, these coins will not come near PCGS or NGC stated values. A ‘type’ draped bust in PCGS F-12 is valued at $225, with that price on the rise over last month. However, the most common 1797 variety, of which yours is one, is listed at $475. We can’t use those values, though.
As far as the grade given to your coin, I think it’s accurate. It is less corroded and has greater eye appeal than the three corroded examples I found. Two of those were of the scarcer S-128 and S-121B varieties, while the third did not state the Sheldon type, but was most likely a common variety.
They were:
S-121B NCS NCS Genuine Corroded VF Details sold for $320 in May ’09. The same coin was re-sold in December ’09 for 180. The eye appeal was not so good.
S-128 ANACS Net 8 Cleaned VG Details sold for $220 in July ’09. The coin has a gray-green cast to it. Yours, though corroded, still has the brown patina an old bronze coin ought to.
No S-variety stated, ANACS Net 8 Corroded VG Details sold for $45 January ’10. A severely pitted deep charcoal gray example.
These prices do not include a 15% buyer’s premium.
The big drop in the scarce S-121B is worrisome, though it does indicate the volatility in coins in general and ‘problem’ coins specifically, because the numbers who collect those are much smaller. Even so, I think you did OK. You didn’t get a bargain, but you didn’t get hosed, either.
Metal Detecting Season 2: Draped Bust LARGE Cent