I'm thinking about getting my first large cent, the problem is I know very little about them . I'm trying to stay below $100 I have many questions: 1. What are the common dates? 2. What grade should I get my coin in? 3. What books/online references should I purchase? 4. Will I need to need to become a die variety expert?
1)Braided Hair cents would be the first to look for (1840-1857), if you avoid 1840 and 1857 the prices are pretty consistant up to about VF-30, above that the later years (50-56) are going to be the cheapest. 2)I personally am looking to put together a set of coins with each being VF-30 or higher to keep the prices down. I would suggest getting the best you can afford, for under 100 you would probably be around VF-40. 3)I just asked The Penny Lady the same question and the three books she recommended were the following- United States Copper Cents 1816-1857, by Newcomb U.S. Large cents (2 volumes) by Noyes The Cent Book by Wright 4)I don't think so, if you are only looking for a single coin or single coin per year you will find the most common die varieties to be the most affordable. However I wouldn't be buying anything in the $100 range off of the internet/ebay without having a good understanding of the coins details. (unless graded and from a quality dealer).
Thanks for the quick response! Before I posted this I was thinking about the later dates, so that's definitely what I'll get. I just wanted to get one to understand what they were like and perhaps start a new collection???
For your 1st coin, I always like to get the highest grade for the budget. I mean, why buy a cull key date when you can have a really nice large cent for the $? Before purchasing a raw coin, I would ask us to see if it's problem free. I would look for a raw coin 1st. Often raw copper can be had much cheaper than slabbed. http://www.ebay.com/itm/1848-BRAIDED-HAIR-LARGE-CENT-AU-XF-/350485006958?pt=Coins_US_Individual&hash=item519a88ca6e#ht_2162wt_1270
One of the hardest things about braided hair cents is to find one that is pleasing to the eye. I don't mind wear but any marks on the face/neck really bother me. I will ignore the price of the coin posted above but my opinion is that it doesn't grade AU. Not even sure about XF... The first places I look on a braided hair cent is the face/neck if there are major marks I won't buy it. It is just too distracting (that is why I could never collect Morgan dollars). The second place I look is the hair, right above the ear there should be 4-5 seperate strands of hair, in this example at least 4 are connected which puts the coin much lower then AU. The same is true with the strands of hair at the top of the head. (These don't work for AU/MS coins but work well for VF/XF/AU grading). Use the photograde website to look at different examples- http://www.pcgs.com/photograde/#/BraidedCent/Grades Another concern on the coin listed are the rim dings at 10 and 12 o'clock. (back looks really nice though) Also pick a few highly graded cents on the HA site and zoom in to really look at what the coin should look like. Here is a MS 66 that is a great example. http://coins.ha.com/c/item.zx?saleNo=1173&lotNo=3084 Here is the last coin I just bought from my local shop, far from perfect but it only cost $48. (picture is even farther from perfect since I only had one light set up)
Okay - here is just my opinion on using a $100 budget. I would first get the books mentioned and yes you should understand varieties. Not so much on the later dates from 1839 to 1857 for braided hair - these just know the major varieties. They are almost impossible at times to attribute. Then I would probably throw in Penny Wise for early dates and possibly copper quotes by Robinson. Now only you can decide what grade to collect in - my collection ranges from PO to AU. And I am pretty much happy with it. Next I would start my collection at 1808 and use a dansco album. Yep - 1808 because I really like a solid low grade coin - they don't need to VF for me. The reason - you can get some really nice low grade solid planchets in AG-3/G-4 coins for $100 or less. All of the classic heads can be had for less than $100 in solid low grade coins. So my set if I was doing it for $100 or less would go from 1808 to 1857. It would be in a dansco album. With $100 as the limit the key dates(or varieties)for this album would be 1823, 1834 Large 8 and stars(N-5), 1839/6, 1840/18 and 1857. I would probably skip the 1834 large 8 and stars and then 1839/6 - pretty much can't get those anywhere near $100. I got real lucky to get my 1834 large 8 variety for $70 and it is a problem coin - but problems I can live with. For the 1839 you can just use a different variety since that hole is label 1839. The 1834 - several other varieties could be used. These two are examples of why you need to understand varieties and maybe you can cherry pick them. My album would look like this: 1808 - 1814 in AG/G range 1816 - 1839 in AG/VF range 1839 - 1857 in F/VF range I would also use this http://www.largecents.net/forsale.php site for helping me. Tom is a great guy and will answer questions for you. You get good descriptions and good pictures. I have other large cent dealers also - but there coins are usually, not always, in a much nicer condition that I would put in my album. Until you know more I would stay away from ebay. Of course on some of these coins you can buy graded as cheap as raw and crack them out. For Ebay a lot of the raw coins are problem coins(just my opinion) and you do not always get good pictures to show you the issues. I find very few coins I would bid on at ebay - of course some of the tougher varieties might be cherry picked from there. Then maybe once you complete 1808 to 1857 you will decide to do 1793 to 1807. Very expensive keys even in PO-1 condition. Those keys are 3-1793 varieties, 1799 and 1804 - expect to spend 100's if not 1000's of dollars for those keys even in PO-1 shape. But boy what an accomplishment if you complete the album. I have maybe 6 coins to go - 2 1793's, 1804, 1839/6 and maybe a common date variety or 2. I have to check it tomorrow I think I forgot to update my list. Of course of this is my opinion and I am VERY partial to large cents. Completing an album will provide years of entertainment. I find I am almost complete and I only want to replace maybe 3 - 4 screw ups on my part. Just take your time working the collection and don't get in a rush.
Large cents are a GREAT series to collect. There are SO many things you can concentrate on. - You have the early Sheldon Varieties. These span from 1793 - 1814. Some are more rare than others. - You have the Newcomb series. His varieties span 1816 - 1857. Again, some more rare than others. - Completed date series. There are at least 8 varieties of design you can concentrate on. - Error coins. There are dates over dates and such to go for. I began seriously collecting Large Cents about 2 years ago. As Marc previously mentioned, Tom at LargeCents.net is a great resource for purchasing coins, AND, some great information. Just remember one thing..... collect the ones that really appeal to you. Maybe it's their design... maybe it's their look... or maybe it's holding something that old and imagining who may have held that coin two hundred years ago. I collect these coins not for a future investment... I realize that my coins will be worth more than what I paid for them, but it will probably be long after i'm gone and turned to dust..... instead... I collect them because I enjoy them and hope to pass them down to my family in the future!
Collecting large cents can definately be a lifetime of enjoyment. Once you start learning and recognizing the varieties you can cherry-pick some nice ones. Most dealers don't have the time to sit and attribute their pieces and many collectors do the same, so a savy large cent enthusiest can often pick up rare varieties for common piece prices. Guy
You've gotten some great advice above. I will not repeat it. However, I would strongly suggest that you either (a) get a large cent mentor, or (b) post a coin your are considering to this forum so you can solicit the opinions of others more experienced that you. Hope this helps...Mike
You should be able to pick up a nice XF45 from the 1840's and '50's for less than $100. I recommend you focus on original color and problem-free surfaces. I started years ago with common VF's to satisfy my curiosity. Be careful...it's easy to get sucked in! Lance.
If you are interested in the late dates, 18040 - 1857 then let's do non-common dates as 1841, 1849, and 1857, and in the closer you get to 1856 the cheaper the coins get. In asking about what grade I would advise you to be more concerned with condition then with grade. This can be quite challenging when it comes to early dates, but in general with non-rare varieties of late dates you can and should get a nice coin. Books, depends on what you want to do. If you are interested in one $100 coin then wing it. On the other hand, if you think this series might be of interest to you then copper quotes by Robinson is a must, it is THE price guide for large cents as it lists prices for each variety by condition, includes census info and quick lookup for each variety. If you get interested in varieites, which I highly suggest , for me books are as follows: Eary dates (1793-1814) - Sheldon is useful and cheap, Breen's encyclopedia is a little more expensive but has much more information (I have both) Middle dates (1816-1839) - Wright's The Cent Book is my preference over Noyes but both are good ( I have both) Late dates (1840-1857) - Grellman's Die Varieties of United States Large Cents is the only book to consider. Newcomb's book was a major achievement for it's time but is hard to use, outdated, and missing a significant number of very important varieties as they were unknown when he wrote it. It may be nice as part of a library, but it's usefulness as an attribution guide is dwarfed by Grellman, I'm talking flint rocks to butane lighter difference. You do not have to become a variety specialist and if you collect late dates and do not know varieties I think that puts you in the vast majority of large cent collectors. I happen to really enjoy them and would encourage anyone to try it, but it does take a special kind obsession to try for 360 or so varieties from 1840 to 1857, and don't even get me started on die states. Lastly, if you like large cents I would highly recommend joining early American copper club, it will put in touch with other like minded collectors and dealers.
WOW!!!!!!!!!!!!!!!! Now THAT is an impressive collection! What a great presentation for them too! Love them all! Great job and incredible coins!
ALways remember large cents/colonials are on the dividing line between US coins and things like ancients. What I mean by that, (and not trying to insult anyone), is with large cents and colonials you will need to deal with more problem coins, research and availability of books and knowledge are very much more important than when collecting other US coins. You begin to seek out more books, old auction catalogs, understand that the coin you just found for sale you may not find again for sale at any price in the next five years. This is much different than completing a lincoln cent collection, which every single date will be available at every show you attend, its only a matter of being able to afford them. People talk how 09sVDB is a rare coin, no its not, its an expensive coin. Large cents will have you experience what a truly RARE coin is. Its just a slightly different type of collecting, that appeals to a slightly different type of collector. I am not saying either is better, just different. However, once you start enjoying large cent collecting, you may become more vulnerable to being seduced by ancients. Its all in my master plan, muwahahaha. Chris
