1902/MS66 Indian Penny

1902/MS66 Indian Penny

Post by Richard DeLu » Fri, 29 May 1998 04:00:00



Hi collectors,

I have a local dealer with a PCGS slabbed (MS66, Brown) 1902 Indian cent.
It is really beautiful, and I'd love to own it. I have slowly been
acquiring uncirculated Indians from 1889, but nothing like this before.  

I have a couple questions:
Are two tiny carbon spots acceptable on an MS66 coin?  They are visible
only under high magnification.  The rest of the coin is spotless, with no
marks of any kind, and a good strike.  

He wants $300 for this coin, and I have no experience with coins of this
high a grade.  Is that WAY too high a price??  

Any advice would be much appreciated.  

Thanks,
Rich

 
 
 

1902/MS66 Indian Penny

Post by eastsout » Sat, 30 May 1998 04:00:00


Hi Richard,

I think the coin is over priced.  The Grey Sheet (wholesale prices) list



Bill



Quote:
> Hi collectors,

> I have a local dealer with a PCGS slabbed (MS66, Brown) 1902 Indian cent.
> It is really beautiful, and I'd love to own it. I have slowly been
> acquiring uncirculated Indians from 1889, but nothing like this before.  

> I have a couple questions:
> Are two tiny carbon spots acceptable on an MS66 coin?  They are visible
> only under high magnification.  The rest of the coin is spotless, with no
> marks of any kind, and a good strike.  

> He wants $300 for this coin, and I have no experience with coins of this
> high a grade.  Is that WAY too high a price??  

> Any advice would be much appreciated.  

> Thanks,
> Rich


 
 
 

1902/MS66 Indian Penny

Post by JR922 » Sat, 30 May 1998 04:00:00


THE 1902 IN PROOF CON. IN 1997 WAS ONLY WORTH $160.00 AND I AM SURE IT HASN'T
GONE UP $140.00 IN ONE YEAR, & THATS FOR A PROOF. YES I FOR ONE THINKS HE
TRYING TO RIP YOU OFF. I MYSELF WOULDN'T PAY THAT MUCH FOR IT. A PROOF IS A
PERFECT  HAS NO TRACE ON ANYTHING ON IT.

 
 
 

1902/MS66 Indian Penny

Post by Bob Cranfiel » Sun, 31 May 1998 04:00:00


Jr.
proof does not imply perfect. Proof is a particular type of strike.
There are proofs that have defects to them as well as there are
circulated coins with defects to them. Indeed there are cleaned and
circulated proof coins which grade out as 'impaired proofs'.
I've seen proofs that looked flawless until viewed under magnification
where die polish marks were visible. I've seen proofs that had mottled
toning to the point it was hard to even see a reflective surface. Proof
does NOT imply perfection.
Also, one cannot compare the price of a proof issue to a circulated coin
of the same year. Just like you cannot compare a 1902 P price to a 1902
S price of any coin. They are different. If a 1902 P for a given grade
is listed at $100.00 and you go to buy a 1902 S of the same denomination
and same grade, but the price is $200.00 this does not imply the seller
is cheating. It implies you need to look up the appropriate coin.
I hope this helps explain to you, Jr., how that works.
I cannot find a 'book' price for the 1902 Indian Head Cent in MS 66. MS
65 lists out between $95.00 in the CDN to $135 in NN Coin Market.
$300.00 may not be too high for that coin, but I think there is always
room for negotiation. A high grade coin may trade infrequently enough
that even if there is a 'book price' it may not hold up in face to face
dealing. Buy the coin if you like it, but try to negotiate a bit.
Bob

Quote:

> THE 1902 IN PROOF CON. IN 1997 WAS ONLY WORTH $160.00 AND I AM SURE IT HASN'T
> GONE UP $140.00 IN ONE YEAR, & THATS FOR A PROOF. YES I FOR ONE THINKS HE
> TRYING TO RIP YOU OFF. I MYSELF WOULDN'T PAY THAT MUCH FOR IT. A PROOF IS A
> PERFECT  HAS NO TRACE ON ANYTHING ON IT.

 
 
 

1902/MS66 Indian Penny

Post by Joe Schel » Mon, 01 Jun 1998 04:00:00


Hey, if you have the money and you really like it go for it! No guts no
glory!
Ohio Joe