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 Replies: 18 / Views: 4,513 |
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New Member
United States
4 Posts |
Hello everyone. I was cleaning out a house recently and came across a bunch of proof sets, including a brown ike 1971-S. From research I did on various price guide sites, it looks like the most this is worth would be $10. HOWEVER, when looking on ebay, I saw auctions for 1971-S proof coins that SOLD for over $200. Some even state in the description that it is in a brown box, plus none of these auctions featured graded coins. I am a beginner here, so what am I missing? Why do the price guides say $10 max but people are getting over $200 for these coins? Thanks in advance... I'd like to learn a little here! Joe |
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New Member
 United States
4 Posts |
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Pillar of the Community
United States
7840 Posts |
 Although I cannot access ebay at work, it could be a "cherry-picker" variety, for which there are a couple; 1971 S DDO SILVER $1 FS-103 1971 S DDO SILVER $1 FS-106 1971 S DDO SILVER $1 TYPE 1 REV VP-003 1971 S DDR SILVER $1 FS-801 http://www.ngccoin.com/vp-sub-categ...ower-dollarsOr, and more than likely, a couple got carried away with the bidding process. Edited by oih82w8
11/21/2013 2:15 pm
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Valued Member
United States
51 Posts |
No freggin way. That's a problem with numismatic collecting you tack "very rare" to a modern coin and people get all stupid. I understand with coins from 1700s but 1971? Really?
I guess I'm missing it too
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Valued Member
United States
388 Posts |
It looks like an example of the "nightcrawler" Ike on ebay? Which is an extremely rare coin I believe, Maybe? Experts? and to CCF Edited by rpmes
11/21/2013 3:13 pm
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Pillar of the Community
United States
7840 Posts |
I had to look that one up (nightcrawler).
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Bedrock of the Community
13014 Posts |
Quote:
I understand with coins from 1700s but 1971? Really? Yes its more impressive a coin survived from the 1700s and a lot of people like the designs back then better but rare is rare. Neither are being made anymore. |
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New Member
United States
4 Posts |
I don't see any mention of it being an error variety. The ebay auction item's title is: 1971-S EISENHOWER 40% SILVER PROOF DOLLAR..FREE SHIPPING! The item's complete description is: .....YOU ARE BIDDING ON 1971-S PROOF 40% SILVER Eisenhower dollar...COIN IS SHOWING SOME HAZE....FREE SHIPPING!....STK#C10..............THANKS FOR LOOKING! |
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Pillar of the Community
United States
7840 Posts |
Sometimes the seller does not know what they have and the (potential) buyers know what to look for, thus raising the final selling bid.
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New Member
United States
12 Posts |
Sounds like it's time to put some coins up on the bay!
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Pillar of the Community
1751 Posts |
They're nightcrawlers. Google it if you don't know what it is. Rare variety with less than 20 known right now, IIRC. That seller happened to get lucky and have a few of them.
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Pillar of the Community
United States
3755 Posts |
To say a coin should not be valuable unless it is a hundred years old means you are missing the point. Rare is rare. It is based on percentages of mntages, NOT age. Old does NOT automatically impart value. A 1921 Morgan is pushing 100 years old. But are you going to claim it is rare? Even in higher grades it is far from rare and does NOT command the prices a Mercury dime from the same year would. Difference being mintages, not age. I am going to look up that variety. New one on me. |
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Pillar of the Community
1751 Posts |
Rarity doesn't drive value either, though, at least not by itself. Value is a function of scarcity and demand, basic economics 101.
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Valued Member
United States
51 Posts |
This is just too much in my taste. Price is influenced by demand and for me that $300 "rare ike" is of low "normal" value to me
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New Member
United States
4 Posts |
Thanks for all the input! After studying the photos of the coin I referenced, I see that the example is indeed a nightcrawler, so that explains the price of that one.
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Pillar of the Community
United States
3755 Posts |
Rarity is one of the two cornerstones of value, along with demand. As I said, you can have plenty of demand for a 21 Morgan. It is more than common enough to withstand just about any demand there is and keep its low value. Just 1/4 of the same demand would and does keep the 21 Merc and Walker at higher values. Yes, if you have little demand, rarity alone will not push the coins value nearly so high as rarity and demand together. That has been pointed out many times here with low mintage Two Cent Pieces etc. But, as I pointed out, you have to have rarity for demand to drive the price higher, and sustain that value. And none of that has a lick to do with age, which was my original point, which still stands. pipe, I get that you have no interest in spending that kind of money on an Ike. Just as I am sure there are coins out there I have next to no interest in spending hundreds of dollars, age aside, either. But I certainly recognize where those particular coins get that value from. |
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Replies: 18 / Views: 4,513 |
Posted 11/21/2013 2:14 pm
