Smart Buying Guide: How to Acquire an 1855 N-4 ‘Upright 55’ Large Cent Without Getting Ripped Off

Introduction

If you’re looking to add this to your collection, you need a strategy to get the best deal. The 1855 N-4 ‘Upright 55’ large cent represents a fascinating piece of American numismatic history, and understanding the market dynamics can help you make an informed purchase decision.

Historical Significance

The 1855 N-4 large cent is one of the most recognizable varieties in the late series of large cents. The ‘Upright 55’ designation refers to the distinctive orientation of the numerals in the date, making it a favorite among collectors. This coin was produced during a transitional period in American coinage, just before the introduction of smaller cents made from copper-nickel alloy.

Understanding the Market

The forum discussion reveals a range of grade estimates from AU-55 to MS-64RB, demonstrating the subjective nature of coin grading. As a market analyst, I can tell you that this variance in grading opinions is typical for coins that have not been professionally slabbed. The estimated grades in the discussion span from AU-55 (About Uncirculated) to MS-64RB (Mint State with Red-Brown coloration), showing a potential spread of several grade points.

Where to Buy

For purchasing an 1855 N-4 large cent, you have several options:

• Major Coin Auctions: Heritage Auctions, Stack’s Bowers, and GreatCollections regularly feature large cents in their sales. These platforms offer authentication and often provide detailed photography.
• Specialized Dealers: Dealers who specialize in early copper coins typically have better knowledge and more competitive pricing than general dealers.
• Online Marketplaces: eBay and Proxibid can offer deals, but require extra due diligence.
• Coin Shows: Attending major coin shows allows you to examine coins in person and negotiate directly with sellers.

Red Flags to Watch For

When purchasing an 1855 N-4 large cent, be aware of these potential issues:

• Questionable Color Claims: The forum discussion mentions RB (Red-Brown) designations. Be skeptical of coins advertised as full red (RD) for this date, as they are extremely rare and often artificial.
• Cleaning or Improper Storage: Look for signs of cleaning, dipping, or improper storage that can significantly impact value.
• Over-grading: The wide range of grades suggested in the forum (AU-55 to MS-64RB) illustrates how subjective grading can be. Be cautious of sellers who consistently over-grade their coins.
• Altered Surfaces: Check for tooling, re-engraving, or other alterations, particularly around the date and other key features.

Raw vs. Slabbed: Making the Right Choice

The forum discussion features raw coins being evaluated, which presents both opportunities and risks:

Advantages of Raw Coins

• Lower Premium: Raw coins typically sell for less than their slabbed counterparts.
• Potential for Under-grading: You might find a coin that professional graders would rate higher.
• Immediate Possession: No waiting for grading services.

Advantages of Slabbed Coins

• Authentication: Guaranteed authenticity from reputable grading services like PCGS or NGC.
• Consistent Grading: Professional, consistent grading standards.
• Easier Resale: Slabbed coins are generally easier to sell and often command higher prices.
• Protection: Physical protection for your investment.

Negotiating Tips

Whether you’re buying raw or slabbed, these negotiation strategies can help you secure a better deal:

Research Current Market Values

Before making an offer, research recent auction results for comparable coins. The PCGS Price Guide and Heritage Auction archives are excellent resources. For an 1855 N-4 in AU-55 to MS-64RB condition, prices can vary significantly based on eye appeal, color, and strike quality.

Leverage the Grade Discrepancy

The forum discussion shows a wide range of grade estimates, which you can use to your advantage. If a seller is advertising a coin as MS-64RB but you and other experts believe it’s more accurately an AU-58, you have room to negotiate downward.

Bundle Purchases

If you’re looking to acquire multiple large cents, try negotiating a better price for purchasing several coins together. Dealers are often willing to offer discounts for bulk purchases.

Point Out Flaws

Politely point out any imperfections you notice, such as marks, porosity, or weakness in strike. These factors justify a lower offer.

Be Patient

Large cents are not as liquid as more popular series like Morgan dollars or modern bullion coins. Don’t be afraid to walk away if the price isn’t right – another opportunity will come along.

Authentication and Grading Considerations

The 1855 N-4 variety is well-documented, with clear attribution points. When examining a potential purchase, pay special attention to:

• The position and shape of the 55 in the date (the ‘upright 55’ feature)
• The leaf opposite the date
• The position of the wreath leaves relative to the letters
• Any signs of die cracks or other diagnostic features specific to this marriage

Investment Potential

The 1855 N-4 ‘Upright 55’ large cent offers solid investment potential for several reasons:

• Collector Demand: It’s a popular variety within the large cent series.
• Historical Significance: Represents the final years of large cents before the size reduction.
• Relative Affordability: Compared to earlier large cent dates, the 1855 is more accessible to collectors at various budget levels.
• Condition Rarity: High-grade examples are genuinely scarce, particularly in full red condition.

Conclusion

The 1855 N-4 ‘Upright 55’ large cent is a fascinating piece of American numismatic history that deserves a place in many collections. Whether you’re a specialist in large cents or a general collector looking for an attractive and historically significant coin, understanding the market dynamics, knowing where to buy, recognizing red flags, and mastering negotiation techniques will help you acquire this coin at a fair price. Remember that the wide range of grades suggested in the forum discussion (from AU-55 to MS-64RB) demonstrates the importance of personal examination and professional authentication when making significant purchases in this series.

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