7/8/13 In the Loupe & New Purchases

June 17th 2013 This Week

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Collecting Off the Grid - "Poor Man's Proof" Coinage

Customers looking for a new challenge frequently ask me for ideas for new collections to form. What you choose to collect is a personal decision and should reflect your own tastes and pocketbook. However, I always try to come up with a few ideas that may light a spark in a collector seeking a new challenge.

One such idea I gave to a customer recently is definitely off the 1857 1/2C PCGS MS64RB beaten path. I call it collecting Poor Man's Proof Coinage. This CAC C­1 B­1 R.2 means collecting proof-like coins, especially coins where the actual proof coinage is either extremely rare or even non-existent.

The term ""poor man's proof" is a bit of a misnomer, as these coins are desirable , frequently quite rare, and sometimes (but not always) pricey.

The most conventional way to do this is to collect proof-like (PL) and/or Deep Mirror Proof Like (DMPL) Morgan dollars. This has https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 1/14 7/8/13 In the Loupe & New Purchases been a mainstream collecting area for several decades now. Much has been written about the characteristics of each date and mint that comes proof-like or DMPL in that series. It can be lots of fun, and very challenging.

1850 1C PCGS MS65RB N­10 R.1

1885-CC $1 PCGS MS65PL

1856 1C SLANTED 5 PCGS MS64RB CAC N­2 R.1 However, one need not be limited to the Morgan dollar series. Off the top of my head, here are some US series that we at HLRC occasionally encounter with proof-like surfaces:

Copper coins that can come proof-like: classic head half cents; braided hair half cents and large cents; Indian cents.

Nickel coins that can come proof-like: 3c nickels; Jefferson nickels. Silver coins that can come proof-like: 3c silver; mercury dimes; seated quarters, halves and dollars; Morgan dollars.

1857 1C FLYING EAGLE Gold coins that can come proof-like: $1 gold (type 3), $3 gold, $10 PCGS MS65 CAC FS­401B libs and $20 libs. Obv of 1856 Other coins: certain colonials, some classic silver commemoratives, pioneer fractional gold, some early gold coins.

The above list is far from comprehensive. Other denominations and series can occasionally be found that way as well.

Before the advent of the grading services, there was more controversy surrounding what was termed "proof' coins vs. what were more properly called "proof-like" coins. In fact, Walter Breen notes a specific example of calling beautiful proof-like early coins "proof" in his excellent book, Encyclopedia of United States 1870 1C PCGS PR65RD CAC Colonial and Proof Coins, published in 1977.

Calling proof-like coins proof coins was a fairly common https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 2/14 7/8/13 In the Loupe & New Purchases occurrence until the late 1970's and early 1980's among both dealers and collectors. To quote from Breen's book, "A Midwest dealer has attempted to assemble a so-called 'proof set' of 1796. The effort yielded a beautiful group of coins, though most of them would not have qualified at the presentation piece level."

1877 1C PCGS XF45BN

1827 50C SQUARE BASE 2 PCGS MS64+ O-120A R.3 1895 1C PCGS PR64RB

In the same vein, we have in inventory another variation on this theme. It is an 1827 Bust Half Dollar with a fairly proof-like obverse and a completely frosty reverse. This is the type of coin that was sometimes cataloged as a "one sided proof" in years past. This term is not in widespread use any more, though it pops up every once in a while in an auction catalog or in an article.

Whatever collecting challenge you pursue, make sure it appeals to you, and is likely continue to do so into the future. Collecting poor 1870 2C PCGS PR64RB man's proofs is one such avenue to consider.

In future newsletters we will suggest other collecting choices that you may not have thought of. When it comes right down to it, the choices of what you can collect in numismatics are limited only by one's imagination.

From Harry's Secret Files... a 'Condition Rarity' Hiding in Plain Sight 1880 3CN PCGS XF40 CAC

Everyone knows that the 1932 $10 Indian is common in uncirculated. No argument there. But did you know that 1932 is actually one of the rarer $10 Indians in the upper mint state grades? Most people are unaware of that fact.

The 1932's and the 1926 $10's were largely stored in bags and were jostled around quite a bit over the years. This resulted in coins https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 3/14 7/8/13 In the Loupe & New Purchases that still had fresh luster but with scuffs and especially cuts on the delicate, exposed surfaces of this beautiful design. This means that superb gems are almost non-existent.

For proof, check the population reports - you will likely be surprised, if not shocked. Harry, has known of this fact for quite some time. He has been on a serious hunt for one of these elusive creatures for quite some years. 1880 5C PCGS XF40

1794 H10C PCGS VF35 CAC LM­2 R.5 1932 $10 PCGS MS66+

We are proud to show you the results of that search. Just one coin... but what a coin! Fresh, booming, luster - and free of those distracting cuts that are ubiquitous on most specimens.

1830 H10C PCGS MS63 LM­3

R.2 Dave Wnuck [email protected]

Contact Dave direct at his office in CT (203) 872-3078

1798/7 10C 16 STARS REVERSE PCGS XF40 JR­1 R.3 Upcoming Shows

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Summer FUN 1836 10C PCGS AU50 JR­3 Orlando,FL R.3 July 11th‐13th Table 502

Featured Coins

1870­S 10C PCGS VF35

1793 1C LIBERTY CAP PCGS F12 1898­S 25C PCGS MS63

SHELDON-13 HIGH R.3 Incredibly scarce and often sought after. The toughest of the three major deisgns from the first year of Large Cent issues. VF20 coins sell in the low 50's and are seldom offered. This is the first fine we have handled in 6 years and we are considered one, if not the most prolific buyers of this issue. Attractive and relatively problem free. An XF45 brought 176K. No decent circulated examples on the market.

$50,000 1920 25C PCGS MS64FH

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1806 50C POINTED 6, NO ST PCGS XF45 CAC O­109 R.1

1859-S 25C PCGS AU50

Extremely rare in grades above VF! Low pops across the board. Pop 3 in 50 with only 3 higher. Nice choice coin! CAC Approved!

$24,500 1807 50C DRAPED BUST PCGS AU53 O­103 R.3

1820/19 50C SQUARE BASE 2 PCGS AU53 CAC O­101 R.2

1896-S 25C NGC MS65 ELIASBERG Ex. Louis Eliasbeg collection, and noted as such on the slab. A key date, top grade coin in a very popular series that came from the number one collection of US coins ever formed. Can it get any better than this? With Mr. Eliasberg's vast resources you would expect a coin of impeccable quality, and this coin is exactly that. A needle sharp, 100% full strike, deep cartwheel luster that leaves the fields looking slightly prooflike, with medium gold toning with just a hint of blue. The cheek is clean and clear of all impediments. Sure to be a highlight in a very important collection 1823 50C BROKEN 3 PCGS of either key date rarities or Barber quarters. AU53 O­101 R.3

$42,500

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1826 50C PCGS AU58 O­109 R.1

1913-S 25C PCGS MS66 CAC

This is the third rarest date in the Barber Quarter series! Surprisingly, it does have a lower mintage of only 40,000 compared to the 1896-S mintage of 188,039 and the 1901-S mintage of 72,664.This handsome man is fully struck with 1902­O 50C PCGS MS64 CAC booming luster and gem surface quality. If you look closely, you can see a die crack that starts at the denticle under the 13 portion of the date where is extends up towards the neck and ends at the last star.Pop 9 with only 5 higher. CAC Approved!

$46,000

1908 50C PCGS MS66

1836 $1 ORIGINAL - COIN PCGS PR50 1933­S 50C PCGS MS65+

Intensely original & pristine choice example of this popular type.

$23,500

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1858 $1 PCGS PR58 CAC

1880 $1 PCGS MS66+ CAC

Pop 3 with none finer! This is huge for a Morgan Dollar! We are comparing this coin to it's earlier date, the 79-P which has a pop of 4 with 1 finer. Last 79- P sold for $18,800 and there are no auction records for an 80-P. This 1880-P is beautiful and sharply struck 1870­CC $1 PCGS AU55 with dazzling cartwheel luster.Simply a stunning, original gem! Even prettier in hand! CAC Approved!

$25,000

1872 $1 PCGS MS63 CAC

1833 $2.50 PCGS MS63 Scarce type with low mintage. Smooth and original with luster shining through it's sun gold surfaces. Very attractive. Pop 3 in 63 1872­CC $1 PCGS F12 with only 5 higher. CU price=$42,500.

$39,500

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1881­S $1 PCGS MS67 CAC

1864 $3 PCGS MS62 Low mintage of 2,630. Pop 17 in 62 with only 16 finer. CU price=$11,500.

$10,750 1885­O $1 PCGS MS66+ CAC

Over 200 Coins Coming Soon...

1887/6 $1 OVERDATE PCGS MS65 CAC

1890­S $1 PCGS MS66 These coins will be listed on our website in the coming days....If you see anything of interest contact us immediately for First Shot to ensure you don't miss out!

Some Highlights https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 9/14 7/8/13 In the Loupe & New Purchases

1806 1C PCGS AU50 S-270 B-1 R.1 1817 1C 13 Stars PCGS MS65RB 1855 1C Upright 55 NGC MS65RD 1794 H10C PCGS VF20 LM-4 R.4 1795/1795 50C Recut Date PCGS F15 O-111 R.4+ 1795 50C Small Head PCGS VF20 O-126A R.4 1814 50C PCGS AU55 O-104A R.2 1891­CC $1 PCGS MS65 1896 50C PCGS MS66+ 1921 50C PCGS MS63 1795 $1 2 Leaves PCGS XF40 BB-21 R.2 1879-CC $1 Capped Die PCGS MS62PL 1892-O $1 PCGS MS65 1903-S $1 PCGS MS63 1865 $20 PCGS MS64

See these and over 200 others on our most recent Coming Attractions List by clicking here 1892­O $1 PCGS MS64 CAC

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[email protected] or [email protected]

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1921 $1 PEACE PCGS MS65 CAC

Click the banner above to find out more about our special PCGS grading offer!

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[email protected] or [email protected]

Preview our New Coin World Ad 1855­O G$1 PCGS AU58

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1855 $3 PCGS MS62 CAC

1857 $3 PCGS AU53 CAC

1883 $3 PCGS MS63

Setup your Want Lists today!

Our Want List System is eager to help you find those coins you seek. Many new coins are coming to HLRC.com in the coming 1907­D $5 PCGS MS65 weeks. To get First Shot Click here to get started and create your Want List account or please contact [email protected] and he will be happy to aid you.

Unique Advantages to Dealing With HLRC https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 11/14 7/8/13 In the Loupe & New Purchases

You will be offered premium money for your quality coins. We have a large customer base, and to keep them happy we desperately need to keep finding coins that meet their quality standards. Please help us by offering us your coins. We love First Shot and will earn the privilege.

Overnight your coins to us at our expense. You'll get a quick decision ­ normally within 24 hours ­ and the shipping and 1910­D $10 PCGS MS66 insurance is on us!

Get paid immediately for your coins via an *HLRC Overnight Check (or *bank wire transfer ­ it's your choice).

Meet us and offer us your coins in person at every major coin show in the USA, and most regional shows too.

Select from the hundreds of beautiful coins we bring with us to coin shows.

Browse through hundreds of quality rare coins for sale on our website. We strive to describe them accurately, price them fairly 1857­S $20 PCGS MS64 CAC and photograph them without bias. Many of our images are from the in­house services of PCGS & NGC. The only surprises you'll get when they arrive in the mail will be pleasant ones.

We also offer special discounts on tier grading. Call our main office in Norfolk for details.

We will work hard for your business. Give us a try and you'll see for yourself.

Call: 1­800­869­1869 Email: [email protected] & [email protected] 1906­D $20 PCGS MS63+ CAC or

[email protected] (203) 872­3078 ­ Direct to his office in CT

* (Payments under $3,000 are sent USPS Priority Mail)

1928 50C HAWAIIAN PCGS MS65 CAC

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1936 50C YORK PCGS MS67 CAC

1903 G$1 LA PURCH­ MCKINLE PCGS MS66 CAC

1870 50C J­960 PCGS PR65RB CAC P­1112 R.7

1847 1C HAWAII PCGS MS64BN CAC

Many more New Purchases https://ui.constantcontact.com/visualeditor/visual_editor_preview.jsp?agent.uid=1113801266220&format=html&print=true 13/14 7/8/13 In the Loupe & New Purchases have just been listed on our site.

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Harry Laibstain Rare Coins | P.O. Box 3596 | Norfolk | VA | 23514

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