1827 50C O-124a MS(PCGS#39723)

August 2015 Mail Bid Auction 41

Auctioneer

Sheridan Downey

Lot Number

58

Grade

VF35

Price

2,483

Lot Description

When I first ventured into the world of bust halves this die pair carried an R.8 rarity rating per Overton’s 2nd edition.  We spoke of the “124” in hushed tones.  A spate of low grade examples turned up in the late 1980s and early 1990s, dropping the rating to R.5+.  The die pair retains its reputation as a “killer” R.5.  This piece comes without problems.  It sports a protective grey patina, certifying originality.  The surfaces are excellent.  The strike?  Well, this is a 124 folks.  They don’t come sharply impressed.  The obverse die spent its youth, adolescence and most of its adult life on the 1827 O.135.    PCGS suggests a value of $3,000 for 124s graded VF 35.  Auction prices have yielded a broad range.  Est. $2,000 and up.