A Sampling Of Ads With Coin Prices From 1904 (Just For Fun) - Page 2

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Author	Replies: 31 / Views: 4,666	Page: of 3

atticguy Pillar of the Community United States 1373 Posts	Posted 12/17/2015 08:59 am Quote: Coin collecting was a hobby of the very wealthy. Well, at least ONE thing hasn't really changed. Report this Post to the Staff
CLS12 Pillar of the Community United States 509 Posts	Posted 12/17/2015 09:05 am Hopefully this isn't us looking back at old becketts while baseball card collecting in late 80's and 90's. I guess a honus Wagner or mantle card keep going up.... (I've got no clue of what baseball cards are worth nowadays) Report this Post to the Staff
NumisRob Bedrock of the Community United Kingdom 17965 Posts	Posted 12/17/2015 09:29 am I think I'll buy a whole load of common date Morgan dollars, get in my specially adapted De Lorean and set the date to 1904! My Trade List: https://goccf.com/t/194596 My Wants List: https://goccf.com/t/191710 Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 12/17/2015 12:12 pm Quote: To keep this in perspective, in 1904, an average worker earned $0.20 to $0.25 per hour, or $200-$400 a year; a well educated professional might make $2.5k to $4k a year. Coin collecting was a hobby of the very wealthy. Your annual wage figure is about right but the hourly is too high. 20 cents an hour would work out to around $625 a year. $400 a year is about 12 cents an hour (This was before the 40 hr work week when 10 hr days and 6 day workweeks were commonplace.) Report this Post to the Staff
paralyse Bedrock of the Community United States 12057 Posts	Posted 12/17/2015 2:56 pm If you think you have to be wealthy to be a coin collector today then perhaps you have lofty goals. When I say "very wealthy" I mean that today a person can put aside a couple hundred bucks a year and collect quite a few different sets like Buffalo nickels, Wheat cents, etc. There's affordable coins for nearly every budget level. In other words, there are many more affordable coins today, that can be had for a much smaller % of your disposable income, than were available to collectors in 1904. Coin collecting is now a hobby the whole family can enjoy, not only the super-rich. That's a good thing, I think. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis Report this Post to the Staff
TypeCoin971793 Pillar of the Community United States 6370 Posts	Posted 12/17/2015 3:34 pm Here are the dealer's prices values adjusted for inflation compared to Paralyse's values. This is why I am quite frustrated with collecting US coins: Quote: For the heck of it I took Von Bergen's ad and updated the pricing to current approximations. 1852/51 Humbert $20 Assay (.884), octagonal, was $100, now only $28,500. Inflation-adjusted value: $2600.15 1879 Stella (Proof), I'll assume Flowing Hair, was $50, now only $230,000 (in PR65) Inflation-adjusted value: $1300.08 1794 $1, weakly struck Good, was $50, now only $67,500. Inflation-adjusted value: $1300.08 1796 50c in AG, 15 stars, was $50, now only $27,500. Inflation-adjusted value: $1300.08 1815/2 50c, not a proof (first was '18), must mean prooflike, therefore probably MS63 or better. Was $10, now $55k to $120k (MS63-MS65) without add for PL Inflation-adjusted value: $260.00 1796/5 H10C, "tarnished" (i.e. toned), prooflike (no proofs exist), was $15, now figure $42,000 in MS63 (+PL add) Inflation-adjusted value: $390.02 1796 Half Cent, split graded AG/Basal, was $20, now only $10k (w/pole) to $20k (w/o pole), assuming you can ever find one for sale. Inflation-adjusted value: $520.02 24 cent encased stamp, I'm going to assume this is a Gault specimen since the reverse is not described, was $20, now $3,000. Inflation-adjusted value: $520.02 1 cent encased stamp, Arthur M. Claflin, Hopkinton, was $10, an example sold at auction in 2005 for $15,500. Inflation-adjusted value: $260.01 From Arnold Numismatic Company, that 1793 Chain cent in an unspecified Very Fine, with unspecified reverse: assuming AMERICA rev: was $20.00, now $30,000 to $50,000. Inflation-adjusted value: $520.02 The 1799 Large Cent in Very Good: was $32.50, now $9k-$12k Inflation-adjusted value: $845.05 The "1836 proof dollar", with unspecified die alignment, was "only" $13.50, now you can pick up a "low grade" PR64 example for only $90,000. Inflation-adjusted value: $351.02 Average Income: $625. Inflation-adjusted value: $16,250.96 Supply, demand, and the depth of pockets sure have messed everything up, huh? Edited by TypeCoin971793 12/17/2015 3:52 pm Report this Post to the Staff
paralyse Bedrock of the Community United States 12057 Posts	Posted 12/17/2015 10:11 pm Indeed. There are many more collectors who would have the means and the desire to own certain rare coins, than there are rare coins to supply the demand, so for rare coins such as the ones in the ads, it becomes a contest to see who's got the deepest wallets. On top of that, inflation in general (and, it could be argued, the switch to a Federal Reserve banking system) has destroyed the purchasing power of a dollar, such that $1 in 1904 would buy much, much more than $1 in 2015. BTW, I used PCGS CoinFacts for values, in case anyone gets to wondering. Auction prices realized would be a better measure but that would require a bit more time and effort. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis Report this Post to the Staff
CoinHuntingDrew Pillar of the Community United States 4932 Posts	Posted 12/19/2015 8:43 pm I'll buy everything, including this guy's business. Makes you wonder where these coins ended up to, how many of these coins are actually slabbed now? Report this Post to the Staff
Coinfusion Pillar of the Community United States 500 Posts	Posted 12/19/2015 10:32 pm Wow...that is VERY cool!! Thank you for sharing! Report this Post to the Staff
ArrowsAndRays Pillar of the Community United States 1660 Posts	Posted 12/19/2015 11:27 pm Great ads, thanks! Report this Post to the Staff
vermontensium Moderator United States 16679 Posts	Posted 12/19/2015 11:32 pm I'll take that Chain Cent for $20 although in 1904, that was a ton of $! swcoin.ecrater.com Report this Post to the Staff
Paul Bulgerin Pillar of the Community United States 3098 Posts	Posted 12/20/2015 4:00 pm Where's a time machine when you need one? Paul Bulgerin Report this Post to the Staff
atticguy Pillar of the Community United States 1373 Posts	Posted 12/20/2015 9:48 pm Quote: Where's a time machine when you need one? I'm very curious about WHAT you would bring back to 1904 to actually pay for the listed coins. You couldn't use credit cards back then, or current paper money or coinage. You'd have to bring either coins made before 1904 or raw silver. Also (even though it would still be worth it) taking today's silver would only get you around sixty-cents an ounce back then. Quote: Coin collecting is now a hobby the whole family can enjoy, not only the super-rich. That's a good thing, I think I guess it depends on what coins can be collected by a 'common family'. If we are talking about saving ATB Quarters or Memorial cents, then yes, a regular family can collect those. However, if I wanted an 1856 Flying Eagle cent back in 1904 (paying $10 for an AU), I'd have to be must better financially now so I could afford paying $15,000 for the same coin today; hence.....you still have to be super-rich to collect coins. Report this Post to the Staff
deusdeus2 New Member United States 18 Posts	Posted 12/20/2015 10:03 pm I would love to have that Virginia Half Cent or the Washington cent amazing Report this Post to the Staff
TypeCoin971793 Pillar of the Community United States 6370 Posts	Posted 12/20/2015 11:38 pm Quote: However, if I wanted an 1856 Flying Eagle cent back in 1904 (paying $10 for an AU), I'd have to be must better financially now so I could afford paying $15,000 for the same coin today; hence.....you still have to be super-rich to collect coins. Well, $10 was the equivalent of $260.01 in today's dollars. Comparatively, those living comfortably back then could collect coins. However, the relative cost of the same coin has risen 5770% over 111 years. In comparison, an ounce of gold was worth $18.96, or $492.99 in today's money. It has a little more than doubled in relative value over 111 years. Food for thought. Begs the question: what are these "rare" coins really worth? (Other than "it's worth what someone will pay for it.") Are they really as rare as today's "values" make them out to be. I've said it many times before, and I'll say it again: Key-date coins are stupid reasons to shell out more money than the coin really should be worth. (See Liberty nickels and Buffalo nickels) This is why I have mostly abandoned US coins. Completing any nice set is entirely cost prohibitive in this day and age. They are now just "side projects." Edited by TypeCoin971793 12/20/2015 11:46 pm Report this Post to the Staff
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