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Why Are 1983 Cents Valued Differently Than Other 1983 Coinage

 
 
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Pillar of the Community
United States
511 Posts
 Posted 11/16/2019  09:07 am Show Profile   Bookmark this topic Add wulffy11 to your friends list Get a Link to this Message
Due to an act prohibiting the release of uncirculated mint sets in 1983, quarters, dimes, nickels, and cents are elusive in high grade.

The 1983 cents are worth some premiums although nowhere as valuable as the others.
Why is that?
Were cents saved more than other denominations?

Ironically enough, my grandpa hoarded a small quantity of 1983 cents, but no other denominations.
Pillar of the Community
United States
1679 Posts
 Posted 11/16/2019  9:04 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

Quote:
Ironically enough, my grandpa hoarded a small quantity of 1983 cents, but no other denominations.


In those days there just weren't any collectors of moderns and the few who did mostly collected cents. Also some people wanted to set aside new coins as an investment and they could set aside an awful lot of cents for 50 or $100. And they did.

Keep in mind also that this was the first year of the zinc cent and more people will set aside firsts.

Just for the record though '83 cents are greatly undervalued. If you have some nice coins with nice surfaces they are a great thing to hold because they aren't as common as believed and because so many of these have tarnished or otherwise gone bad. Most '83 cents were poorly made and most of those set aside were stored under poor conditions.
Time don't fly, it bounds and leaps.
Pillar of the Community
United States
764 Posts
 Posted 11/17/2019  12:13 am  Show Profile   Bookmark this reply Add Petespockets55 to your friends list Get a Link to this Reply
There were also quite a few errors (counter clashes, cuds, transitional planchet errors, etc) as well a very strong DDR that keeps people looking and searching.
Pillar of the Community
United States
803 Posts
 Posted 11/17/2019  09:13 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
It's first year of the zincoln. People hoping to find one that's a copper still.
The DDR 1983 P. Worth decent money especally in high grade.

Pretty much these two reasons alone put it in a higher rank than most coin rolls even other denominations of 1983 coins.

Bedrock of the Community
United States
18720 Posts
 Posted 11/17/2019  7:25 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
We see so many of that year with all sorts of problems so a decent one is sort of rare.
just carl
Bedrock of the Community
United States
15985 Posts
 Posted 11/19/2019  2:46 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Simple answer, because they made so many of them. If .01% still exist in MS that is 1.5 million of them, more than enough to go around. If the same percentage of MS quarters exist that would only be 122,000
Gary Schmidt
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 Posted 11/28/2019  08:45 am  Show Profile   Bookmark this reply Add wulffy11 to your friends list Get a Link to this Reply
I was fortunate enough to come across quite a large 1983 cent CUD roll hunting many years ago. 1983 is my birth year so it feels sentimental in that regard. 1983 mintages were high all across the board. I think you nailed it with your response, CladKing. Do you anticipate someday, 1983 cents may catch up to other circulating coins of that year?
Pillar of the Community
United States
1679 Posts
 Posted 11/28/2019  09:32 am  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

Quote:
Do you anticipate someday, 1983 cents may catch up to other circulating coins of that year?


Yes and no.

Nice choice and Gem coins will likely exceed BU single coins of other denominations by a wide margin when people start collecting moderns. Nice Gem cents get quite a lot rarer every year. But some of the other coins like the Philly quarter are already quite rare in true Gem.

The cent is the dark horse in this race but I don't believe even it's high attrition will make it more valuable in any condition other than very attractive MS-63 with nice surfaces. There are thousands of the other coins in this grade and the cent is already elusive with nice surfaces. Remember though they can't get higher even in this condition until more have been ruined by time and there is an increase in demand over the next decade or two.

You must remember there are a lot of BU cent rolls out there. There are so many it will take 99+% of them to be wrecked and it's not that high yet. Higher prices would serve to get them better protected as well so the attrition rate would drop. It just depends on how thing play out.

We'll see.
Time don't fly, it bounds and leaps.
Bedrock of the Community
United States
16087 Posts
 Posted 12/02/2019  8:08 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
The cents are basically not worth anything today except in the high gem grades (66 up). As cladking said, to which I agree, it will take time before they become valuable as collectors realize that they are difficult to find. Attrition and corrosion will take it's toll as time marches on. I suspect the majority of stashed rolls will be improperly stored and eventually cashed in a face value.

IMO, it's going to take decades before 1983 cents have much value. For now, all I know is that it took me a significant amount of effort to find a nice one with no gas bubbles.





Lincoln Cent Lover!
Pillar of the Community
United States
1679 Posts
 Posted 12/02/2019  8:26 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

Quote:
For now, all I know is that it took me a significant amount of effort to find a nice one with no gas bubbles.


Nice coins.

Finding nice pleasing surfaces on the '83-P and '84-P is very difficult. In the '84 mint set Philly cents with nice surfaces are rare so this would be a great date to search in BU rolls.
Time don't fly, it bounds and leaps.
Bedrock of the Community
United States
16087 Posts
 Posted 12/03/2019  10:43 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Yes, the 1984 P&D are tough to find without bubbles.






Lincoln Cent Lover!
Edited by BadThad
12/03/2019 10:43 pm
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