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1914 over 3 Buffalo Nickels....over-valued? or overlooked?

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 Posted 01/11/2012  5:12 pm Show Profile Check asimpson91's eBay Listings Bookmark this topic Add asimpson91 to your friends list Get a Link to this Message

So in the past month I have been hooked on the 1914 Buffalo nickels. I've searched high and low, and so far I've obtained Several.
At a show I received a 1914 to examine and ended up paying $15 for a Choice VF with what id believe to be an (early) late die state. VF in cherrypickers' Guide is valued at $700.00 My only concern is are these being overvalued? I recently sold an XF example on eBay for a mere $175. Dont get me wrong, the profit margin for that, of a coin I payed less than 25 for, is incredible, but it just leads me to believe that maybe these desireable overdates minted in 1914 are being severely overlooked by collectors. It is obvious that there are MANY out there to be picked!

Just thought Id share my story and opinion to my fellow numismatists
-Andrew

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 Posted 01/12/2012  11:32 am  Show Profile Bookmark this reply Add wquinn to your friends list Get a Link to this Reply
Very nice cherrypick! I think the values in those types of reference books are always way too high. I think they put them very high in value to encourage you even more to look for them. I don't think they use the grey sheet to determine values and since most of those varieties and errors aren't all too common, they might not know, so they put down a value they feel it is worth?
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 Posted 01/12/2012  12:26 pm  Show Profile Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Personally I think they are way overvalued. This overdate was the result of at least an overdated working HUB which means it made dozens of overdated dies and hundreds of thousands of overdated coins.
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 Posted 01/18/2012  2:21 pm  Show Profile Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
While I'm inclined to agree with Condor101 that this variety is overvalued, I further believe that's the case with many key date coins in today's market. This less prominent overdate variety is very ripe for cherry-picking. There are apparently sufficient numbers that warranted the Red Book listing. If the makers of coin albums/folders eventually install holes for this variety, the price will undoubtedly escalate. Its inclusion in the Red Book was a giant step in that direction.

As knowledge of this variety spreads, so will demand. Advanced Buffalo collectors are seeking out the higher grades, AU-Unc, and paying four figure prices for those. Like any "new" variety, give it time ...
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United States
278 Posts
 Posted 01/20/2012  10:06 pm  Show Profile Check asimpson91's eBay Listings Bookmark this reply Add asimpson91 to your friends list Get a Link to this Reply
That is a very good point as well, exoguy. This variety may be on a 98 year old coin, however, it has only been 15 years since the variety has been reported. Im not sure what the population report on these coins are. But I DO know that They are not as difficult to find as some may think!
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United States
224 Posts
 Posted 01/21/2012  11:02 pm  Show Profile Bookmark this reply Add arsave to your friends list Get a Link to this Reply
I don't agree with some of the values in the books. Sometimes things are too high, and other they seem too low.
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1934 Posts
 Posted 02/16/2012  08:02 am  Show Profile Bookmark this reply Add j_h_s to your friends list Get a Link to this Reply
This is PCGS price guide on the coin. Maybe $700 in Cherrypickers is inflated. PCGS is then hugely inflated. And you sold a XF of this very coin for $175 on eBay?



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 Posted 02/17/2012  11:03 pm  Show Profile Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Don't forget when the book/variety is first getting publicity there are not many found yet, so pricing will be higher, as the word gets out and people begin to hunt them down, many more examples will be "found" and will come into the marketplace, lowering the values dramatically.

This happened on many TOP100 VAMs after the book was out for a year or so, case in point the 1887-P DDO "Alligator Eye" VAM-11 became known as fairly common, I had a roll of MS63/64 dollars assembled within 4 months, sold while they were hot and bringing several hundred dollars each.

Many other VAMs became even rarer than previously thought, as well as many new VAMs have been found since the initial publication as more people entered the VAM side of collecting. VAM's are a bit more popular due to the sheer number of Morgan and Peace dollars available, and the fact most people can't afford to collect every date and mint mark, it's easier to collect a subset of a single date of die pairings or a subset of VAMs like the TOP100 or HOT50 lists.

Buffalo nickels while very popular are not collected by die variety by nearly as many people as say VAMs are. The Buffalo collector usually wants the 3 legged variety and 1916 DDO and 1917/8 and that it.

Also varieties that make it into printed album slots become very popular and "must haves" for set collectors ie: Lincoln cents 1922 plain, 1955 and 1972 DDOs, the rest of the DDOs and RPDs are only a very small subset for collectors and not usually required to have as a complete set.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982 • EAC Member #6202 • NBS Member • 2¢ variety collector.
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 Posted 03/28/2012  07:07 am  Show Profile Bookmark this reply Add TreasHunt to your friends list Get a Link to this Reply
Personally, I do believe that the 1914/3 is an overlooked variety.

The reason may be simply because it is not as obvious as the 1918/7 D.

Since it is more difficult to see the average collector may not desire an example.

How about the 1914/3 D & S?

Both totally overlooked, even in the pricing guides.

Simply because they are difficult to see & are not yet that popular.
TreasHunt
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 Posted 03/28/2012  11:09 am  Show Profile Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
If Whitman and Dansco ever get around to putting holes in their albums for this variety, it will no longer be overlooked. The RedBook recognition was a big step in that direction. I see far more three-leggers a shows than these. As more of this variety become recognized and their numbers increase, more collectors will be able to own one. It's ironic that these coins will have to become more available to gain respect and recognition, an album hole. IMHO, they're simply in effect too "rare" to be worth near as much as a three-legger!
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 Posted 03/28/2012  8:56 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
If Whitman and Dansco ever get around to putting holes in their albums for this variety, it will no longer be overlooked. The RedBook recognition was a big step in that direction.

And everyone should notice that Whitman Publishing is the Publisher of the Cherrypicker's Guide. If a coin is overpriced in the Red Book, very possibly also overpriced in all the other books Whitman Produces.
just carl
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 Posted 03/29/2012  01:42 am  Show Profile Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
Interesting point you made about Whitman, Carl. I've long noticed that the newsstand coin magazines tend to overvalue coins. Of course, more folks are then inclined to buy it.

The 1914/3-PDS nickels do seem to be overpriced in the RedBook, based on sales that I've seen. At today's market prices, many folks may come to regret not putting a few of these away.
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