1847-O $5.00 PCGS VF35

The 1847-O is the single rarest New Orleans half eagle and it is an issue that compares favorably to such Southern rarities as the 1842-C Small Date and 1842-D Large Date half eagles. There are probably no more than four to five dozen known in all grades with most in the VF-EF range. There have been just three VF35 examples sold at auction since 1999 with the range of prices widely going from $3,738 to $5,520. The last APR for a VF35 was Heritage 12/11: 4547 (an NGC coin) that sold for $4,025. This Choice VF example has an obverse that is essentially a full Extremely Fine in terms of its appearance while the reverse shows a bit more wear. The eye appeal is quite pleasing for the date and grade and I have seen inferior examples of this issue in EF40 holders. After many years of neglect, the true rarity of the 1847-O half eagle has become widely known but this issue remains a good value in all grades.

1846-D/D $2.50 PCGS EF40 CAC

Winter 7-K. Early die state with the remnants of the first mintmark punch, far to the left, clearly visible over the top of the 1 in the numerator. This variety has proven to be quite scarce as evidenced by the fact that only eight have sold at auction since 2004; an average of around one per year. The last EF40 example was Heritage 1/05: 8545, that sold for $2,560 in a market that was less attuned to the desirability of this issue. Nicely toned with greenish-gold and orange hues covering surfaces that are lightly marked and which still show a touch of luster. Certainly among the most affordable examples of this popular variety.

CAC has approved just this one coin in EF40 with two better for a total of three in all grades.

The DWN Favorites List

As I update my website the morning of Long Beach set-up, it got me to to thinking what are some of my numismatic favorites: shows, series, books, sales, etc.? Indulge me as I attempt to entertain you... Favorite City for a Coin Show: New York, by a significant factor. Yes, rooms are expensive and, yes, space is at a premium at any exhibit hall where a show is held. But the last two ANA shows held in New York were by far the two best coin shows I ever had. Not only is New York the financial capital of the world (for now...), it is the epicenter of American coin collecting with thousands of serious, deep-pocketed buyers within a few hundred miles. If it were up to me, I'd have a major coin show in Manhattan at least once year.

Favorite Coin Series: My favorite series seems to change on an annual basis. Obviously, I'm a dealer who favors gold and, equally as obvious, I tend to favor early gold and Liberty Head issues. Right now, I find myself especially intrigued by No Motto half eagles. But I am also very intrigued by Type One double eagles, early quarter eagles, New Orleans eagles and so much more. That's what makes my job fun.

Favorite Coin Book: I would vote for S.S. Crosby's Early Coins of America as the best book on coins ever written and the Garrett/Guth 100 Greatest U.S. Coins as the book that has had the biggest influence on the market in the last decade. But for me, the single best coin book has always been the Redbook. It has everything I need in one neat, simple package and it is the book I refer to more than any other; even my own.

Favorite Coin Website: Based on the amount of time I spend online, I'd have to vote for the PCGS and Heritage sites; the former for its auction prices realized and the latter for its elegant design and unrivaled technology.

Favorite Coin Show: For me, this is a pretty easy one: the FUN show in Orlando, held every year in January. From an economic standpoint, I think the tables are a good value. From a symbolic standpoint, I like the fact that it represents the beginning of the year and seems to offer a Karmic Cleansing (or something like that...). The show is well-run, it's nice to go to Florida in the middle of winter, it's well-attended, and it's a show that has to be considered one of the very best of the year for retail sales. I find the atmosphere more laid-back than the Summer ANA (which is my runner-up for best show) and its a show that, after all these years, I still look forward to attending.

Favorite Coin Auction: That would still have to be the Bass II sale, conducted by Bowers and Merena in October 1999. There were thousands of lots with nearly every single one containing a coin (or coins) that I wanted to bid on. And the coins were fresh, fresh, fresh with an incredible array of depth and quality. What's really remarkable about this sale is that although it was conducted just 13 years ago, in some ways it seems like a hundred; what with no internet, sparse attendance and prices that now seem cheap, cheap, cheap. It is scary to think what this sale would bring in 2012.

Favorite Auction Firm: Given the fact that the coin auction business is essentially a duopoly at this point, it's a lot easier to point to a favorite firm today. Due to their transparency and great customer service, the clear favorite for me is Heritage. I love how Heritage provides me with all the information I need to help me bid and I love how, despite their size, Heritage is willing to go the extra mile when it comes to things like having someone stay late after a long day at a coin show to let me view lots.

Asterisk: Had ANR been able to survive the contraction of the auction business, this firm would probably have been my favorite. They had great people working for them, got nice consignments, produced exceptional catalogs, and were building a first-class website. Their demise was sad for the numismatic auction business.

Favorite Regular Issue Coin Design: This would be a toss-up between the so-ugly-its-charming Capped Head half eagle design of William Kneass (especially the Reduced Diameter issues of 1829-1834) and the cool, elegant Indian Head eagle design produced by Augustus St. Gaudens.

Favorite Pattern Issue Coin Design: Judd-1776. If you don't know what this design looks like, Google it.

Favorite Coins I've Handled In 2012: While not yet half over, this has proven to be a watershed year for DWN in terms of cool individual coins. A few stand-out so far: the finest known MS63 1855-D quarter eagle I bought in the Goldberg's February sale, the NGC MS60 1863 half eagle I recently sold to an eastern specialist, the PCGS F12 1854-S quarter eagle I bought at the "secret" auction in San Francisco, and the group of three Gem Charlotte gold coins I just finished selling over the weekend. I can only hope the second half of 2012 turns out to be as full of great coins as the first half was!

What are some of your numismatic favorites? Let me know by contacting me via email at dwn@ont.com.

1896-S $20.00 PCGS MS62

Old Green Holder. Probably closer to an MS63 by today's standards but not worth cracking out for the attempted upgrade. A nice, frosty example with pleasing color.

1861 $20.00 PCGS AU55 CAC

You could look through a group of fifty AU55 examples of this date and not find one as original or as choice as this example. It has rich, natural orange-gold color over moderately abraded surfaces with great overall eye appeal. An affordable yet special example of this popular Civil War issue.

CAC has approved 11 in this grade with 46 higher.

1890-CC $20.00 PCGS EF45 CAC

Very lustrous for the grade with scattered ticks on the obverse and reverse. It has become very hard to find appealing PCGS-graded CC double eagles for less than $3,500 and this piece has the added benefit of a CAC sticker. A goodd coin for the beginning double eagle collector.

1857-O $5.00 NGC AU53

Only 13,000 were struck and this is a numismatically significant issue as the final No Motto half eagle from the New Orleans mint. It is considerably scarcer than the majority of the Charlotte and Dahlonega half eagles from this decade and it is a major rarity in Uncirculated with just two or three known. In the middle to higher AU grades, the 1857-O is extremely scarce and there are probably fewer than twenty known. This example has nice luster with a slightly Prooflike finish below light green-gold color. There are a few scattered marks in the fields and a small tick or two on the face. There have been just three APR's for this date in AU53 since 1999.

1864 $20.00 PCGS AU53

If you collect Civil War double eagles you probably already know that the rarity of the Philadelphia issues, in order, are the 1862, 1863, 1864, 1865 and the 1861. The 1864 is a very hard issue to locate in the middle to higher AU grades and it is especially hard to locate with original color and surfaces. This piece has wholly natural orange-gold and medium greenish color on the obverse and reverse with a great naked eye "look." The surfaces are moderately scuffed with fewer abrasions than usual for the date and were it not for a small scrape in the left obverse field (in front of the portrait) an AU55 grade would be entirely within the realm of possibility. There have been just six APR's for this date in AU53 since January 2008 and the last record for a PCGS example was Heritage 6/11: 4905 which brought $5,750>

1874-CC $20.00 NGC AU50

I purchased this coin in an old NGC AU50 holder and thought it was a good candidate to upgrade to an AU53; maybe even an AU55. It didn't happen but I still think this coin shows an awful lot of luster and "body" for an AU50 and I have certainly seen inferior coins graded higher. A nice example of this tougher date.