Overrated/Underrated Coins

Overrated: at least 90% of: modern MS69 or MS70 material, , gimmicky "first strike", reverse proof, privy mark, etc., 1965 or later proof sets, 90% of commemorative coins
A little overrated, but too much: ASE's, Common Morgan and Peace dollars (all cool but overpriced) , State Quarters (they are good for getting young people interested in coins)
A little underrated : Canadian 999 and 800 silver, Philharmonics.
Underrated: lots of good answers already, I also think low mintage gold is underrated, but out of my price range. Half Cents. Franklin halves.

Underrated are damaged holed coins with a LOT of detail left. My buddy has picked beautiful indians off ebay for cheap and resold for 40% or less off then their catalog value. The hole must not be covering the date, however, everyone underestimates these.

LOL, and it's still any empty hole in my album and collection. (not everything goes into albums)

I think all key dates with a mintage of 100,000 coins or greater are stupidly overrated. I am very against having to own key-date coins to be considered seriously in the numismatic world (at least the US non-CCF world). They are "worth" stupid high prices for what they are, evidenced by the hyperinflated price relative to more-common coins since about 1960, when coin prices were closer together from the common end to the rare end and prices were based more on relative rarity than relative demand.

Classic US coins are starting to get stupid expensive for what they are, which is one on the reasons why I am abandoning the field for the time being and collecting something with more history and rarity reflected in the values.

I could just be a disgruntled pessimist, but no one's (in the non-CCF world) going to listen to me as they are too caught up in the frenzy to get as many PCGS slabs and labels as possible.

This is why I collect Ancient Chinese. Rant over.

Overrated: Common Morgan dollars. They are common, about as common as modern coins not in circulation. Even the rarest are not that rare, just in demand. Not sure what the infatuation is with coins that really were never spent in quantities like halves and quarters and dimes were.

I think high mintage Morgans in MS64 can be easily had for less than $100. I think this is one reason they are fairly rated. Where else can you get such beautiful and large silver coins in MS condition for such low prices. Same goes for the Peace dollar except it is harder to get them in MS64, slabbed and graded for 65 bucks. You can complete half a set of Morgans for a few thousand dollars, but you must really bite the bullet for some of the rest. If you just want silver buy the Silver Eagle for $20 and watch as it fluctuates all over the place. If you were to attempt to get LWH dollars in MS64 I think you would pay a fortune.

I sure agree with thq about low mintage gold. Many Saint-Gaudens $20 with mintage below 100,000 for about the same price as those with 2,000,000 mintage before 1926. The 20th century Indian Head gold coins seem pretty cheap as well except for a few examples.

I would say the Peace dollars and the V-Nickels.

I find it fascinating how cheaply one can still buy some of the Seated coins for, coins that have ridiculously low mintages and are very hard to find in higher grades. It all comes down to supply and demand. I am going to sell of some more of my stuff and buy a few of those.