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 Replies: 26 / Views: 2,754 |
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Pillar of the Community
United States
2724 Posts |
Since the topic of the extra leaf quarter has been making headlines, I thought that I would share a thought on how to judge if a coin is a true numismatic rarity or fad. Each of the past few years have seen a select few dealers and collectors promoting one such coin or another as the next big thing. Usually this is some form of small error or die crack, or some other little thing. So how does the average collector determine if this is something that will hold the value, or be tomorrows has-been. Any true error will carried or wanted by every major dealer in the U.S. Pick up the phone and offer a 1955 DDO Lincoln and the offer will come quickly. This is a numismatic benchmark of sorts. Most varieties have to be well defined and carry the desires of the community at large. The spiked die cracks of the last few years while spiking in value have all fallen well short of making the grade. These same coins can often be picked up at the major shows for the price of the grading fees. Now how does that make the original owner feel when they bought at 3 digit numbers? Hoopla is easily spread, and often will cause dramatic price increases over a short period of time. I called a handful of dealers today inquiring about this new quarter. Not one had any desire to purchase such a coin at today's prices. All had the same comment that this would not last. Those on the market today will fetch good money. However, what will those same coins bring this fall? Anyone remember the hype of the "waffle" coins? Where are the buy orders today? These pieces of Mint trash can be bought left and right now. That first set brough over a grand. All true numismatic rarities will hold and gain value for years to come. Yes the market goes up and down, but overall they increase slow and steady. Since 1995, the coin market has been begging for a true rarity. The simple fact remains that there just aren't any. Through the hype, through the magazine and newspaper articles, through the efforts of some dealers, all have fallen short. It is and has always been my advice that collectors should learn what is truely a rare find and what is hype. The only winners in the hype market are the ones that find the coins. Not the ones who buy them. |
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Forum Mom
 United States
5877 Posts |
Very well put and definitely food for thought.
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Valued Member
United States
382 Posts |
So true ND, I fell for the disappearing "3" in 2003 for Lincoln Proofs. Look at the coin straight on and all you see is 200 instead of 2003. Proofs sets were selling at premiums and I bought a few. Then I waited...and waited...and NOTHING. Dealers and experienced collectors laughed so I have some very expensive 2003 proof sets. This Wisconsin leaf is a little differant in my opinion. First, it is getting some major press. Second, it really doesn't look like an error as these two leaves really look like part of the overall design. Third, you don't need a loop to see it (i.e., 1995 DDO Lincoln), so it is visible to the naked eye. Fourth, millions of new collector are into State Quarters and some of them no doubt will want it. It reminds to be seen just how many of these quarters were struck. But since every coin publication is talking about it along with two straight days of USA Today coverage, it will be interesting to see where the values of these two varieties end up. Case in point, my Dad sells rolls (same date and coin) of newly minted quarters to my son for $8 (nice deal for his grandson). So there it is...a roll of 2004-D Wisconsin quarters setting in my house ready for me to dive into. It is up to my 10 year-old, but to be honest, I would love to take a peak...just a little. "Come'on son, what do ya say?"  Edited by zakgold
02/10/2005 6:10 pm
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Pillar of the Community
United States
1247 Posts |
I always though that a collector looking for a fun and inexpensive Topical could actually collect the hyped stuff from yesterday at todays very reduced prices.
1) 1950D Jeff Nickel
2) 1960/1960D small date Lincoln
3) 1963 Proof set--proof sets were a big craze in 1963. In 1959 there were rumors that people were busting up 1957 and 1958 proof sets and spending the money as the sets were selling below issue price. By 1963 the 1958 set was selling for $23. Proof sets in 1963 were a major craze followed by a major bust. By the end of 1966 95% of those selling proof sets wholesale on Teletype were out of business.
4) 1965 Canadian proof-like set.
5) Any Franklin Mint medal from 70's
6) Any Art Bar from the 70's.
7) 1954S San Jose--This was just a die crack coming off the S mintmark that looked like a J. Don't know how much these cost today but I sure would like to find one.
8) 1955 Franklin "Bugs-Bunny." This was just die a clash, but was it ever hyped.
9) Some print outs from those old Teletype machines. That would make for some interesting reading! I wonder if any even exist today?
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Pillar of the Community
United States
867 Posts |
I got into the "no oak" Connecticut quarters- remember those? Fortunately I didn't spend any more than face value for them, but I had this whole hoard of "oakless" quarters that I eventually realized were only worth a quarter. So... I spent them! I did keep one, just to say I have it. Rachel [:p] Edited by Kyra
02/10/2005 7:38 pm
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Rest in Peace
United States
954 Posts |
Longnine009,
You mentioned the 1950-D Nickel as one that was hyped yesterday and fell through today. Well the price did go to $26.00 per coin but the drop wasn't because the coin was overhyped. The 1950-D nickel dropped in value because it was counterfeited in Texas. The fake pieces were almost impossible to detect until their die broke and caused a small spike off the rim of the obverse. When collectors found out and the value dropped to $6.00 and even today you can buy a quality piece for $10.00.
I predict if they ever do away with the cent the 1950-D nickel will be worth its weight in gold or more..
catman
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by catman
Longnine009,
I predict if they ever do away with the cent the 1950-D nickel will be worth its weight in gold or more..
catman
I think that new Jeff/Buff nickel is going to get more people interested in them. |
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Pillar of the Community
 United States
2724 Posts |
Remember the 2003 error cards issued in the proof sets? This was pure hype and so many lost their shirts in that deal. There are quite a few examples of the different series, and I thank all of you for contributing them.
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Pillar of the Community
United States
867 Posts |
What about the 2000 cents with the Proof reverse? How much are those going for lately? I have a couple nice ones that I found in circulation, so I saved those, but I didn't go out and buy any.
Rachel [:p]
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Pillar Of The Community
3147 Posts |
Red Book puts a $35 value on the high grade uncs.! Personally, when they were first discovered I received any where from $28 to $53 for the uncs. People contacted me and made the offers as I didn't know what to price them at the time. Seems to me, on the average, I was pretty close to getting book value even then.
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Pillar of the Community
United States
867 Posts |
Really? Hmmm.... maybe I don't feel so silly for saving those after all.  Mine were picked out of customer change, but they still look like they're straight from a mint roll. Rachel [:p] |
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Pillar of the Community
United States
2724 Posts |
For the collector that searches, many great deals can be found. This is what makes our hobby fantastic. Look at the ebay auction selling the new quarter variety. It is currently over $500 with the reserve still not met. Is the greed a bit much? Let's keep an eye on this one, and see where they are selling this time next year. Some of the high grades are selling at near a grand. |
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Pillar Of The Community
3147 Posts |
I call what we are seeing now "the fools market"! Should these quarters turn out to be something worth actually having it will be for far less than what we are seeing now. Not a doubt in my mind. ND is absolutely correct with his wait and see attitude as they are starting to turn up in larger quanities it seems and we all know what that will do to prices. Be patient and wait this one out.
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Pillar of the Community
United States
2724 Posts |
Now please keep in mind that all of us should be looking through our change. You just never know what will pop up. Mules, varieties, errors all can spice up the life of a collector and add a couple of dollars to our pockets. Just don't be greedy with it. If you find one, offer it on ebay or some other venue without reserve and take whatever the market allows. |
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Pillar of the Community
 United States
5953 Posts |
I always look through my change its where most of my wheaties came from.
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Pillar of the Community
United States
7123 Posts |
I live here in New Mexico , between the golden states for these quarters, up until a few days ago I would get any number of wisconsin quarters in my chage from different places, today ,and yesterday I have not received one wis. in my change,,, I wonder if they are being picked out at the bank,Checkers at super markets and convienence stores,, sales clerks at the local hardware ,, gas stations even wal mart did not produce any ?
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Replies: 26 / Views: 2,754 |
Posted 02/10/2005 6:04 pm
