Update on Flying eagle found earlier this year. Just got it back from ICG!!!!!

[Fr3nchy27]

Here are the pics of the Flying Eagle that I found this year fresh from ICG. Also a barber dime that I found. Just got them back today. I was pleased with the results. I have attached the original posts for the FE and the dime. Thanks for looking! Happy hunting!

http://forum.treasurenet.com/index.php/topic,270032.msg1960669.html#msg1960669

http://forum.treasurenet.com/index.php/topic,265730.msg1892859.html#msg1892859

 

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[Xraywolf]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

I know I will be in the minority here, but I cannot see paying those prices for a coin that probably wont sell for a lot more than you pay to have them graded...
$100 for a $500 coin, sure... But $100 for a $150 coin is ludicris imho....
Example... I sold a Barber silver dollar for $23.00 last week... Not a key date.. If I paid the pro's to grade it, how much would I have gotten for it?? Surely would have paid someone to take it off my hands.. No thanks..

Very nice find though..

More often than not no, the investment isn't worth it for the average person with an average coin.
But to people into this as a living, its nearly mandatory for them.
Its kinda like the lotto, sometimes they score big by getting a high grade, sometimes they lose by having it grade lower than expected.
They even break the coins out of the slabs and resubmit them, hoping that another grader will grade it higher, and that can mean $100's or $1,000's to them.

As per your example, the Barber [half] dollar - Low grade $20 to $30. MS 67, $20,000 to $75,000.
Did you walk away from a fortune ? Doubtful, but I guess you just don't know unless you submit it, the train of thought the grading companies want you to get into.
If you see something absolutely pristine with the features jumping out at you, might be worth the risk to send it in. Of course, what you think is pristine and what they think is pristine will most often be 2 different things.

 

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[Silver Surfer]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

I agree wholeheartedly that a coin in question for authenticity would need to be authenticated, but where I draw the line at their prices for services is the Fine, Very Fine, MS-55, MS-60, MS-65, etc.... To me that is the ridiculous part. If someone has to look through a high-powered lens to see a difference in a coin, how can that be worth so much more? Now if I have a coin that looks really nice, say near-uncirulated, or uncirculated, and I am going to get around $200 for the coin, then I may pay $15.00 to have it graded if it means the difference between $150 and $200... BUT... What if I think the coin is mint state, and I think I will get $200 for it, and it comes back from them in Uncirculated condition and I get $100 for it? Wasted money I say..
I have sold a few of my morgans, and I just take a good picture that shows details, and post on the ad that I will let the viewer decide the grade... I have gotten just as much as people who sell the same morgan, in the same condition, that have it graded and slabbed... I guess I just dont get it... Rare coin worth a lot, you bet.... Pretty common coin, no way... Just my opinion though, and I would never slam someone who wanted to do it for themselves.

 

[CRUSADER]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

I agree wholeheartedly that a coin in question for authenticity would need to be authenticated, but where I draw the line at their prices for services is the Fine, Very Fine, MS-55, MS-60, MS-65, etc.... To me that is the ridiculous part. If someone has to look through a high-powered lens to see a difference in a coin, how can that be worth so much more? Now if I have a coin that looks really nice, say near-uncirulated, or uncirculated, and I am going to get around $200 for the coin, then I may pay $15.00 to have it graded if it means the difference between $150 and $200... BUT... What if I think the coin is mint state, and I think I will get $200 for it, and it comes back from them in Uncirculated condition and I get $100 for it? Wasted money I say..
I have sold a few of my morgans, and I just take a good picture that shows details, and post on the ad that I will let the viewer decide the grade... I have gotten just as much as people who sell the same morgan, in the same condition, that have it graded and slabbed... I guess I just dont get it... Rare coin worth a lot, you bet.... Pretty common coin, no way... Just my opinion though, and I would never slam someone who wanted to do it for themselves.

exactly, why bother, a good collector can tell from a good photo.

 

[unclevinn]

two beautiful coins buddy, they are some sweet. glad you found them, im still waiting to find my first flying eagle cent. keep up the good post i always enjoy them. unclevinn

 

[l.cutler]

I am not a big fan of slabbing unless to insure authenticity if you are unsure. A numismatic motto is " buy the coin not the slab". A coin is worth the same amount slabbed or not. It may be easier to sell slabbed, especially sight unseen, but still worth the same.

 

[Xraywolf]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

I am not a big fan of slabbing unless to insure authenticity if you are unsure. A numismatic motto is " buy the coin not the slab". A coin is worth the same amount slabbed or not. It may be easier to sell slabbed, especially sight unseen, but still worth the same.

No, its not.
Between me and you, we could look at the same coin, I might say its AU-59, you might say its MS-64 ,,, And the next guy something else.
Nothing is determined its all a matter of individual preferences & judgment.
Once its slabbed by a reputable coin grading service, that all changes.
If its MS-64, then its written in stone, not even an expert can argue the point, and that will always remain true no matter who owns it.
Its quite a racket all the way around, and as more & more buyers prefer slabbed coins and more of a certainty over raw, we are likely to see a corresponding increase in the slabs available, which already number in the 1,000,000's no doubt.

 

[l.cutler]

Two people may have different opinions,even the professional graders disagree sometimes. Coins are resubmitted for a chance at a higher grade, but the coin is still what it is. Slabbing does not change the grade or value of the coin. It may clarify what the grade is, but does not change the coin itself. If someone is not sure how to grade or tell if a coin is genuine, cleaned or altered the slab is a great assurance of what you are getting no question, especially with the influx of Chinese counterfeits. If I were to be looking for a certain coin in a certain grade, I would not pay more for a slabbed coin. In some cases I may even pay less, not being able to examine the coin myself. Sorry, I'm a Colonial collector and not a big fan of entombed coins! To each there own however. Oh well, this thread is about the great coins Fr3nchy27 found anyway, I guess we can agree to disagree!

 

[Xraywolf]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

Slabbing can, and does change the value of the coin ,,, Why else would people do it ?
$$$ is not only the primary motivation, but is the single motivation
I see what you are saying, of course the coin is not psychically altered or changed into something it was not before it was slabbed ,, But your perception is wrong here.

If you have a coin you think is MS-69, not 1 single person is going to take your word and give you $10,000 for it.
If PCGS says its MS-69, then its settled, and you might have a lineup of folks wishing to buy it.
So to say that "slabbing does not change the value of a coin" in clearly inaccurate, at best.

That said, I have a modest coin collection, not 1 single slab.
I do have a few that I consider absolute gems, and might send them in at some point of time.

 

[Nate in Ohio]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

Slabbing can, and does change the value of the coin ,,, Why else would people do it ?
$$$ is not only the primary motivation, but is the single motivation
I see what you are saying, of course the coin is not psychically altered or changed into something it was not before it was slabbed ,, But your perception is wrong here.

If you have a coin you think is MS-69, not 1 single person is going to take your word and give you $10,000 for it.
If PCGS says its MS-69, then its settled, and you might have a lineup of folks wishing to buy it.
So to say that "slabbing does not change the value of a coin" in clearly inaccurate, at best.

That said, I have a modest coin collection, not 1 single slab.
I do have a few that I consider absolute gems, and might send them in at some point of time.

Xraywolf is right. That's the whole point of slabbing, to establish standards that are to be considered undisputable among collectors. Many serious collectors won't even look at raw coins when they browse for buying purposes. Like as a buyer, I'm gonna be hesitant to pay thousands for a coin, banking on the idea that I graded it correctly myself...so I wouldn't wanna do it. I pretty much agree with everybody else when it comes to non key date and non rare coins...forget about the slab, I trust my knowledge and experience, whatever that may be, enough to make a fair decision, and worst case scenario, it won't cost me much anyway, whereas the difference between an MS63 and an MS65 coin could be hundreds or more.

 

[Fr3nchy27]

Oh well, this thread is about the great coins Fr3nchy27 found anyway, I guess we can agree to disagree!
[/quote]

Thanks I.cutler. I did not intend to start a debate. I chose to send these particular coins to be graded because in my 15 years of detecting I have never seen a FE come out of the ground with this amount of detail and without pitting. The barber dime was the best barber(condition wise) that I have dug. I just thought it would be nice to have them in slabs by a reputable grading co. It cost me just 15 bucks a coin and who knows, maybe 25 years down the road they might be worth a pretty penny. Thanks a lot for all the responses. HH and keep those coils on the ground!

 

[l.cutler]

Oh well, this thread is about the great coins Fr3nchy27 found anyway, I guess we can agree to disagree!

Thanks I.cutler. I did not intend to start a debate. I chose to send these particular coins to be graded because in my 15 years of detecting I have never seen a FE come out of the ground with this amount of detail and without pitting. The barber dime was the best barber(condition wise) that I have dug. I just thought it would be nice to have them in slabs by a reputable grading co. It cost me just 15 bucks a coin and who knows, maybe 25 years down the road they might be worth a pretty penny. Thanks a lot for all the responses. HH and keep those coils on the ground!
[/quote]The only flying eagle I have seen come out of the ground took an hour just to ID it as a flying eagle! Congratulations!

 

[bootstrap vinn]

Congrats on the grades lil bro. I never thought that FE would get AU50. knock it down for the corrosion and you end up with EF40 maybe right? Still a great find and not one alot of people have come up with.I completely agree with you getting it slabbed though.Otherwise you could debate it till the cows come home.Although it came back detail wise right about where we thought it would, even though I was leaning more towards the EF,I'm glad it came back better than I thought.
Hey it's good to see Uncle Vinn on here too.For all you who don't know Uncle Vinn,he is old school
has made many a spectacular find and has been doing this since gods dog was just a pup.Now we just need to get dad (Calico Hank) on here!!! Are you reading this Dad?
Congrats lil bro,WTG Bootstrap

 

[allen]

those are some real beauties !!!

 

[rjw4law]

Re: Update on Flying eagle found earlier this year. Just got it back from ICG!!

Congrats, nice grading too.