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 Replies: 15 / Views: 2,045 |
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Bedrock of the Community
Canada
10743 Posts |
Just looking up the 1889 'rare' Canada ten cents and see that the mintage is 600ks, looking at the 1887 and 1888 and see that the '87 only has a mintage of 350ks and the '88 500ks, why does the 1889 have such a high price? Did they get melted at some point?  |
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Pillar of the Community
Canada
1049 Posts |
I read an article some time ago that there was 600k minted in 1889, it was thought that there was a numerous amount dated 1888, hence the scarcity.
reflecting the high prices.
Edited by M_d_in_guy
01/13/2015 3:37 pm
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Pillar of the Community
 Canada
5394 Posts |
The easiest answer is probably that the Royal Mint report is wrong and the figure for 1889 is probably distribution of 1888 dated coins. This was a common practice of mints at the time. There is an old Numismatic wives tail that the dimes were lost at sea in a shipwreck on route to Canada . Never substantiated! |
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Pillar of the Community
Canada
1051 Posts |
I also subscribe to the 1888/1889 theory, but I can't prove it in any way.
They are extremely scarce, I believe more so than the 1921 5c based on population numbers. My lone example is a PCGS VF-25, and that lowly grade is enough to put it in the top 32 graded by PCGS. An AU-58 is a PCGS top 10 census coin, with only 8 total graded in mintstate and 2 in AU-58.
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Pillar of the Community
Canada
5394 Posts |
I also believe that the coin is much rarer than is normally thought. Have only ever sold three pieces that were decent. One of them came out of Australian coin auction.
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Pillar of the Community
Canada
1049 Posts |
I had also read, mind you it was pure speculation (well of course there is nothing to substantiate the 1888/1889 mintages either)with nothing to substantiate this info, that there were extra dies left over from 1888 and rather than increase minting costs for the 1889 year the left overs of 88 were used up. Then the few 1889 were used to complete the 1889 mintage projection year. Who really knows without accurate documentation.
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Pillar of the Community
Canada
5417 Posts |
Not considering all of the possibilities that can't be proved, the answer can simply be found is the extremely low population numbers and the low number of decent, problem-free coins that hit the market every year. I also have noticed that the 1889 10C is considerably harder to find than the 1921 5C (which in my opinion is an overrated coin to being with).
Edited by zxcccxz
01/14/2015 12:57 am
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Valued Member
Canada
252 Posts |
There's a PCGS AU50 in the Legacy sale coming up.
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Pillar of the Community
Canada
1051 Posts |
There was an ICCS AU-58 1889 that sold at the 2014 Torex. Not exactly cheap, but for how tough they are, pretty justifiable. A coin of that rarity and grade in the US would be absolutely out of reach for most collectors, we are very lucky here!
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Pillar of the Community
Canada
1554 Posts |
 When you review the I.C.C.S. , 2014 Population Reoprt that confirms ONLY 4 Mintstate examples have ever crossed their path in the past 30 years, that speaks volumes! Glenn  |
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Pillar of the Community
Canada
1505 Posts |
So, considering all the above, how do price one with a hole in about G6?
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Pillar of the Community
Canada
5394 Posts |
that was discussed in a previous thread where you showed us your purchase.
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Valued Member
Canada
252 Posts |
Remember seeing a very nice grade 1889 10 cent love token on ebay for can't remember price, but was thinking of all the coins to do it to. |
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Pillar of the Community
Canada
1505 Posts |
When someone made it into a love token, that person had good reasons why it was done and had NO idea that it was going to be a rare coin.
Could have used a 1875 if that year would have been suitable for the project.
I know a person who had "Granny Anne" engraved into a NFL $2 1880 (!!) and had it incorporated into a mens neck chain by a jeweler in Victoria. He purchased this coin for a lot of bucks and had it done to honor and respect his beloved Granny. (who was from NFL and left him with a rather comfortable life).
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Pillar of the Community
Canada
4227 Posts |
I was just looking through old CNA Journals looking for info on a certain coin club and came across an article by J. A. Haxby titled "Interpretation of Data in The Royal Mint Reports and the "Missing" 1889 Five and Ten Cents" in which he discusses this very topic. It's in the May 1970 issue. He proposes that it was common for The Royal Mint to reuse good dies from previous years for orders from other governments. Thus, the mintage reported for the year 1889 in The Royal Mint's reports can include a significant number of coins that were struck with 1888 reverse dies. |
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Pillar of the Community
Canada
1049 Posts |
Going one more step with what Chequer mentions above, it would not surprise me if it was an inventory error(a misplaced digit) in late 1888 based on a projection of 1889 orders of die's to be needed. That created the lack of 1889 pieces. So it's possible that at the time's of re-order, of more 1889 pieces the inventory showed lack of dies to fill up coming orders, hence the influx of 1888 issues. As time could not warrant the making of new dies to meet the standing orders that needed to be shipped ASAP. We have to remember that all communication was ship bound, not wired. So by the time the orders reached the appropriate mint they were already behind schedule.
Edited by M_d_in_guy
01/16/2015 10:02 pm
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Replies: 15 / Views: 2,045 |
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Posted 01/13/2015 3:39 pm
