Micro O Discovery: A “secret treasure” of its own

My first memory of looking for specific dates on coins or barr notes was with my father when I was young. My mother was a waitress and we often helped count and roll the tips she brought home. Whenever we found something remarkable (pardon the pun), my father – a collector of jewelry and curios of all kinds – kept it solemnly. I was fascinated by the idea of ​​finding secret treasures in something as mundane as currency. My interest in coins took a back seat when bicycles, motorcycles, fishing, and many other things preoccupied my interests as a young boy in the 1970s.

When my father died in 2003, I volunteered to work with my brother to split up his coin and currency collection. I bought a Red Book and several other books to educate myself about the value of the collection. Although my father’s collection was not of great value, the occasion sparked my fascination for “secret treasures” and I soon developed a full-blown passion for coin collecting. I started participating in auctions and visiting local coin shops to expand my own collection and to educate myself on the subject. As I’m sure many coin collectors have seen, over the years some friends and family have asked me about the value of something they have. From individual coins to entire collections (and even a five-gallon bucket of silver halves at one point!), I’ve come to be known as a local mint man.

At the moment, like some of my neighbors, I am half-retired from the aviation industry, so we have plenty of time to talk about all kinds of hobbies and interests. Last month, I showed one of my retired neighbors a recent purchase of an NGC-rated Saint-Gaudens and grabbed the 2014 Baseball Hall of Fame silver dollar to show him too. He mentioned that his wife had some coins that might be interesting. She came over to me and shortly after I showed her the coins I showed her husband, she went in to get a worn plastic bag that she said had been in her closet since about 1974. At first glance, it was a respectable collection: her bag held a variety of coins of nine silver dollars, five or six halves, a couple of quarters, half a dozen groats, and then an assortment of nickel and 1-cent coins. The bag also contained six small, round, flat glass pieces in plastic sleeves that had numbers and scales, and circles and radii with values ​​assigned to them. I got a quick look at the dollar coins while we were talking in the courtyard, but I told her I needed to do more research to evaluate the others. She smiled and said, “I trust you.”

My wife and I had to run errands right after visiting them, so I didn’t look at the coins again until the next day. There were a variety of silver coins and clad coins, most of which were heavily in circulation, but one coin really caught my attention. Her collection included half a dollar from 1892-O Barber. Since 1892 was the first year for the Barber semi-series, that is a good date, even though the coin has been in circulation a lot. The front is in better condition than the back as is typical of barber halves. I was on the fence by this coin that rated either AG-3 or G-4. In my Red Book 2021, I saw that there was a “Micro O” variety for 1892 valued at $ 3,650 for a G-4 coin. After a little more research, I learned that there are hardly more than 50 known and certified Micro O’s.

I thought, “Wow! Wouldn’t that be cool if that’s a Micro O? ”The rarity and value of the Micro O made me doubt that, but I figured it couldn’t hurt to investigate the possibility. I turned the coin over and saw a small “O” but didn’t know what a Micro O looked like. I was pretty sure I didn’t have an 1892-O Barber half in my collection, but I quickly found that I have an 1893-O half for comparison and was surprised that my coin had a significantly larger mintmark than their coin. Could that really be? I quickly went to the PCGS and NGC websites for information and Googled the mintmark information. I pulled down my stereo microscope to get the best view of the coins. I remembered the pieces of glass in the bag and decided to use them to compare the two mint marks. I later discovered that the six pieces of glass are called reticles and are used to measure under magnification: exactly what I did with them. After looking in disbelief and rubbing my eyes several times, I found that their coin is actually half a dollar from Micro O Barber from 1892. I almost jumped two flights of stairs to announce this incredible discovery to my wife: I have found a spectacular secret treasure! Unfortunately, it was too late to let my neighbors know about the coin. It was hard to fall asleep that night. When I saw my neighbors in the driveway the next day, I could hardly contain my excitement to rush and share the news.

They could almost see me dancing when I explained that the die makers mistakenly used the “O” mint mark for the quarter and that fewer than 100 of them were believed to have been minted. After going through this whole world for the past year and a half, the energy and excitement this coin brought me uplifted me in a way I didn’t know I needed.

I returned their collection and explained to them all the information I had about the other coins. I also told them that I strongly suggest that the barber coin be shipped and graded. I asked if I could do this for them and they agreed. She works in a local business in town, but her husband is retired from the plane and I asked if he would like to take me to my local coin store to have the coin sent in for authentication. He agreed and we made an event out of it, even stopping for breakfast on the way to the store. The guys at the coin shop examined the coin thoroughly and agreed to send it in for me.

After receiving the email that the coin was back, I eagerly went to pick it up. It was official! As expected, PCGS rated it AG-03 Micro O. I discussed with my wife how important this coin is and how much I feel almost emotionally connected to it: I must never hold another one again. She knew the conversation would come and agreed that we could save the money to buy the coin from the owners if they were ready to sell it.

I told the owners that their coin was back from valuation and after asking if they were interested in selling it we all sat down at our large dining table to discuss a deal. I went to the bank to get some cash as I think it’s always more satisfying than a check. After some discussion, we came up with a fair price for each of us.

I could make a few dollars on this coin one day if I ever sell it, but I didn’t buy the coin to make money on it. I bought the coin because it made me so excited to make this numismatic dream come true: to discover a real secret treasure in the small, tattered bag of coins from a cupboard.