The JR Newsletter is the official e-newsletter of the John Reich Collectors Society. The purpose of the John Reich Collectors Society (JRCS) is to encourage the study of numismatics, particularly United States gold and silver coins minted before the introduction of the Seated Liberty design, and to provide technical and educational information concerning such coins.
Sunday, November 2, 2014
JR Newsletter: 2 November 2014 (213)
John Okerson wrote:
Wanted: Jules Reiver's 1984 edition, "Variety
Identification Manual for United States Half Dimes, 1794-1837."If anyone has a copy and is willing to part
with it, please contact me at johnokerson(at)gmail.com or 901.338.8999
John Okerson from Lakeland, TN
Michael Rocco wrote:
I was looking at the early dime lots for the Gardner
collection and on review of lot 98227, the 1804 14 star dime, I noticed two
aspects of the coin that I would like to get others to comment on. On the
obverse, the E and R in "Liberty"
appear to have a somewhat different shape than what I have seen on other
dimes of this variety. On the coin in question, the bottom horizontal bar of
the E seems shorter than the typical E punch (including the Es on the reverse
of this coin). The flag on the top of the R seems to point up instead of remain
horizontal and the bottom horizontal bar of the R is thinner at the upright
crossbar than the typical R punch (including the R on the reverse of the
coin). On the reverse, (which corresponds to the location of the letters
ER in "Liberty" on the
obverse) the eagle's tail feathers have a very strong and detailed appearance
that I have not seen on even mint state dimes of this variety.
The owner of the Easton Collection wrote with commentary on
the Gardner dimes that recently
sold in Baltimore:
My review of Gene
Gardner’s Bust dimes in Heritage’s November 2014 auction
On Monday, October
27, 2014, the second part of Gene Gardner’s magnificent coin
collection was sold by Heritage in NYC at the Waldorf Astoria Hotel. The
auction started at 1pm and about 50
people were in attendance including Gene and his family with a lot more in
attendance via Heritage Live. Included in his collection was a group of some of
the finest draped and capped bust dimes available. It’s a rare treat to see so
many wonderful coins being offered at one time. Overall, I thought that the
draped bust coins sold for prices at my expectation except for the 1804 dimes
that sold for less than I expected and the capped bust dimes selling for strong
Since the auction was held in NYC several blocks from my
office, I had a chance to attend the auction and spend several hours at lot
viewing. Below are some observations of the dimes:
1796 JR-3 in NGC63
– The coin has been pedigreed back to 1956 and this coin is very rare with a
really triangular die break that has the looks of a really cool cud on the
reverse at 11:00. This coin is
believed to be the finest known of this die marriage and I thought that NGC
graded the coin properly.I gave this
coin a pre-auction estimate of $30k to $35k and the coin sold for $30,550.
1801 JR-1 in NGC65 CAC – This coin has
wonderful color and looks very original. This coin was once owned by Norweb and
it’s the finest known. This is a rarity 4 coin. One feature of this coin is die
rust running throughout the obverse. The reverse has typical weakness in the
eagle’s breast and this coin is no different. My pre estimate price was $125k
and this coin didn’t disappoint me at $111,625. The winner of this coin should
be very proud to acquire such a wonderful coin.
1804 JR-1 in PCGS53
and JR-2 in PCGSAU50 – I can’t remember when both 1804 die marriages were
offered in auction since the Price auction; and any time one example is offered
it's considered special. Over the past year, there have been several JR-2
offered in auction but Gene’s AU50 was the highest graded offered. Overall, the
JR-2 has nice color with great details as its well struck. Both 1804 coins were
sold for $125,375 to one collector and in my opinion he got a great deal! My
pre-auction estimate had both coins selling for $90k each and I wouldn’t have
been surprised if either one sold for as high as $125k.
1811/9 JR-1 in NGC65
– This date is one of my personal favorites but I really didn’t like this coin.
The coin had a color that looked very unnatural to me and was slightly over
graded by 1 point. This date in gem condition is hardly ever offered at shows
or auctions so I really didn’t know what to expect. I had thought a solid gem
could sell for about $30k but this coin was short of being a gem. The market
place agreed with me and the coin sold for $18,800. This price was fair for the
1821 JR-9 (small
date) in PCGS64 – The small date variety is slightly rarer than the large
date but this coin I thought had the possibly of achieving a record price. This
coin was pedigreed to Alan Lovejoy and when offered in 1990 it was offered as a
proof or presentation piece. Back in 1990, the coin sold for $8k. This coin is
brilliantly toned in yellow and blue. This coin has fantastic eye appeal and
this coin was the best graded 64 that I have ever seen. Some collectors in
attendance commented to me that they felt the coin was artificially toned but I
disagreed. The coin looked exactly like the plate coin when it was auctioned
off in 1990! This coin sold for $15,275 which is double PCGS price guide.
1824/2 JR-1 in NGC66
– What can I say – this is my favorite date in the series and I don’t remember
when a 66 was ever offered. This coin is richly toned and has an above average
strike for this date. Many believe that this coin could be tied for the finest
known. The coin demonstrates multi-colored toning and has very clean surfaces.
My pre-auction estimate was $25k and the price realized was a staggering
$70,500! I was shocked at the price it realized.
1828 JR-1 in PCGS 65 CAC – This coin is pedigreed to the
Eliasberg collection and further pedigreed way back to 1899. The coin is very
brilliant with the fields very reflective. The devices are fully frosty and
this coin is very well struck. The pre-auction estimate was $20k and it
realized a very strong $28,200.
1828 JR-2 in NGC64
- The 1828 large date coin is the last year of the large size capped bust dimes
and any appearance of this variety is rare. The coin was beautifully toned but
I thought that this coin was flat looking. Over the years, I saw only one mint
state JR2 offered in over 10 years.I
thought that this coin was going to sell for very strong money. My pre-auction
estimate was $20k and the coin sold for $28,200!
1831 JR-5 in PCGS66 CAC – This wonderfully bluish gold toned coin
has very clean surfaces and was extremely well struck. The coin is originally
toned and very rare to find a bust dime this nice. My pre-auction estimate was
$17k and it realized $20,560.
1834 JR-1 in PCGS 67 CAC- It's hard to believe that a coin over
180 years old can be preserved in such great condition, but in reviewing this
coin one can only say that it's magnificent in every way. The surfaces are
almost perfect with beautiful amber and lavender toning on both sides. The
strike is very strong with the Eagle talons' details very well defined. A
special coin and my pre-estimate price was $40k and but it realized a soft
$32,900. BTW – PCGS price guide is $37,500.
1837 JR-4 in PCGS65 CAC - This date is
very desirable as it’s the last year for the capped bust dimes. The coin is
attractively toned in golden brown with shades of green. The surfaces are very
clean and I believe that this coin is a possible upgrade. My pre-auction
estimate was $15k and it sold for $21,150.
In conclusion, there were many very high grade bust dimes
and anyone that acquired one of Gene’s coins should be very proud. Congratulations
to all the winners. Gene personally congratulated each winner in attendance and
shared a short story about his coins. In the end, I was glad to be in
attendance for such a great auction and see these magnificent coins getting