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Replies: 26 / Views: 3,818 |
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Pillar of the Community
Canada
1442 Posts |
I'm posting this to stimulate some fun discussion. A best effort hand count of ebay postings over the last 3 months reveals: 1859 N9 - 900 1859 W9 - 62 1858 - 116 This yields mintage estimates of (total 9.7 mil): 1859 N9 - 8.1 million 1859 W9 - 560,000 1858 - 1.05 millionThe standard work on this is Rob Turner's classic book: The 1858 Cents of Provincial Canada. Mr.Turner favours a mintage of 1.54 million for the 1858, with a range of 1.0 to 1.7 million. in Volume II, Mr.Turner gives a range for the 1859 W9 as 380-770,000. The above estimates based on ebay postings from Dec.8-Mar.8 fall nicely into these ranges. It's still amazing to see how 1858s maintain their high prices, despite being twice as abundant as the 1859 W9/8. Thoughts? Edited by canadian-varieties 03/08/2017 10:38 pm
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Pillar of the Community
Taiwan
606 Posts |
I would say type collecting plays a part as type collectors generally prefer the first year of issue. If you are collecting the series by date you only need one 1859. How many variety collectors are out there?
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Valued Member
United States
302 Posts |
Many people don't know that the 1858 is twice as abundant at the overdate. More people than not still believe Fred Bowman's erroneous calculation of 421,000 as the mintage for the 1858. That figure was gospel for decades. And, during that same time, no one had publically stated an estimated mintage figure for the overdate. Besides, value is determined by multiple factors (not just mintage), a point that variety collectors sometimes forget.
Edited by JHax 03/09/2017 12:50 am
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Pillar of the Community
 Canada
5585 Posts |
There is NO relationship to the number of coins that are are offered on ebay to the number of coins that were minted. ebay info normally only offers numbers derived from the title of the auction. Then there are all of the problems about mis-ID, multiple coins in one lot, poor photos, what/which coins are worthy of being certified and, of course, multiple or reofferings of the same lot for years on end... let alone those that are hoarded away in collections all over the globe. The 3 types of Provincial coinages above have been commonly known and collected for over 100 years. How many are actually out there is an unknown commodity and not really worthy of a good guess now. Mr Turner's data was based on random populations gathered from raw coins purchased (and by multiple accumulators) long before the ebay and coin-site chat modified the way that folks collect coins and conduct research. Some dies may have struck only 1,000 coins and some may have struck 100,000 .. who knows what's out there? Some people collect one each of an item, some collect dozens or hundreds and have them in boxes. At one time, I had well over 1200 1859's and still have over 50 9/8's, because I'm an accumulator. When I die, what's going to happen to your 9/8 ebay data when they all show up on the market? My recommendation to all collectors already in, or thinking about getting into, variety collecting of Vicky large cents .. take the data that Rob Turner laid out in his first 4 books and take that to the bank. His tomes are an absolute necessity for any large cent collector. Add to them (currently 4) books with other authors who have been around the block and researched for over 25 years. Disregard anything that has ANY relationship to ebay data or colorful descriptions of auction items offered up for sale. There are people who are prone to taking advantage of misconstruing what actually happened at the Mints 100-150 years ago.
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Valued Member
United States
302 Posts |
Yes, and speaking to Okies last sentence: There is no question that there are some who now knowingly misstate the lower mintage figure for the 1858 in an attempt to get a higher price for one they are selling.
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Moderator
 Canada
10456 Posts |
Quote: I'm posting this to stimulate some fun discussion. I am not sure what there is to discuss? I do realize that part of advancing what we know, is challenging the known. But that effort usually starts with the published literature and ends with new, statistically valid data. Rob's publication (and its subsequent revision) is a good start, but ebay "statistics" certainly do not fall into the latter as "valid data" - I don't think we need to explain why... I see any attempt to use ebay to validate any numismatic statistic analogous to graduate students using Wikipedia to cite their sources - both are unacceptable.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
 United States
1349 Posts |
I agree with the posters above. ebay data are skewed in many directions. IMO they provide nothing more than distorted anecdotal information. In fact, since Jim and I published our provincial cent work and the 2011 Charlton came out, I doubt there can be any such thing as an impartial random sample for Victorian cents. The answer to your opening question on mintages has been published at least three times that I know of, twice by me (the books and an article) and once by Jim (in an article). With minor differences, all three agree. If I were writing a variety book, I would seek such answers in previously published work and through my own research. I wouldn't look for answers on chatrooms.
http://www.victoriancent.com2011 & 2025 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner. Life Member of RCNA.
Edited by bosox 03/09/2017 11:28 am
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Pillar of the Community
 Canada
1442 Posts |
i think my question of "do collectors care, or have strong opinions about the mintages of 1858, 1859W9, 1859N9" has been answered...by the people who replied... that was the only answer I was "looking for". as for ebay having "nothing more than distorted anecdotal information"...on any given day, there are 8000 large cents for sale. "Completed listings" shows 12,000 large cent listings over the past 3 months. That's about 50,000 large cent listings per year. There is no collector or group of collectors that, visiting every coin show in the country, and every coin store in the country, can ever amass or see a tiny fraction of what is on ebay. Not to mention the biases that come with targeting only certain stores or only certain auction houses, or collecting with personal preferences and biases (conscious or not), which we all have. If anything is "anectodal", it's individual collectors visiting coin stores. That being said, how to handle this wealth of data on ebay is a completely different story...there are a few distortions, bad photos, group lots, etc...can it even be done statistically? probably not... but to ridicule and completely discount the largest, most varied, and arguably least biased marketplace on earth, is not "reasonable" to put it kindly.
Edited by canadian-varieties 03/09/2017 1:49 pm
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Pillar of the Community
 Canada
1442 Posts |
okiecoiner...your 50 1859 9/8s and 1200 1859 N9s would skew the data briefly...but ultimately they would be absorbed in the market very quickly. right now about 4000-5000 1859s are sold on ebay annually...so your collection would be absorbed easily
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Pillar of the Community
Canada
2781 Posts |
I found it interesting that the proportions were similar between ebay offerings and the mintage numbers, but I don't think I would trust applying that as a blanket rule. It would be interesting to see if other years/denominations etc also follow the same trend. While not "gospel", ebay is a pretty solid reflection of the marketplace as a whole. I trust the final sales values of the 'bay over any printed catalog.
Edited by Wade 03/09/2017 1:46 pm
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Pillar of the Community
 United States
1349 Posts |
You are entitled to your opinion and I am entitled to mine. I don't think ebay volume has anything to do with whether that population resembles the population that was minted, so we disagree.
http://www.victoriancent.com2011 & 2025 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner. Life Member of RCNA.
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Pillar of the Community
 Canada
1442 Posts |
"The above estimates based on ebay postings from Dec.8-Mar.8 fall nicely into these ranges." that was simply an interesting observation... i think if you actually read the original post, you'll realize you all jumped to various conclusions and launched a coordinated attack for no good reason. That's shameful and disappointing. 
Edited by canadian-varieties 03/09/2017 2:20 pm
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Pillar of the Community
 Canada
5585 Posts |
What I said and meant about any correlation to ebay data was meant to apply to scarcity and population data only. As do most people and as I do, I look at ebay "sold" auctions to see about what a range of prices should be. ebay supplies lots of data, but it has no relation to scarcities or rarities or populations, especially if part of the search data is for "certified" coins. Only by looking at "sold" items with good pictures and descriptions can you even partially rely on the data. I never meant to ridicule or discount ebay data ...only as it applies to titles, descriptions, populations and scarcities; and then only if you can see a good, undoctored photo.
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Pillar of the Community
Canada
3234 Posts |
Quote:right now about 4000-5000 1859s are sold on ebay annually. I see so many repeats on ebay that I don't know how to get an accurate # of actual sales.. I've seen some vickies come back every week for over a year. There is sold..and there is maybe not really sold.. I can't remember how many cents "did not sell" at the recent Torex but my count is that it was a lot of "pass" until the next auction... ..and then it comes back again at a slightly lower starting price..over and over..so actually a lot of repeats..on ebay or at auctions.. Naturally we all "cherry pick" the good ones and pass on everything else..
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Pillar of the Community
Canada
1980 Posts |
i tend to agree with what okie is saying about some of us hoarding and could temporarily flood the market. I my self have started hoarding as some of you remember I posted about me making up a roll of 1858's well since then I am getting closer to the 70 piece mark. I also hoard wide 9/8 and 1891 sd's with accumulations getting close to 50 of each (soon to be posted here  ) and I have really only started hoarding these over the last few years and I will most likely continue hoarding for the next 30 yrs! i use eBays "sold' listings all the time its a great tool for realizing prices paid. but I also see vicky cents being re-sold by myself or others on ebay time and time again so I think it would be very difficult to try to get some accurate populations
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Pillar of the Community
Canada
1980 Posts |
by the way JHAX I recently picked up your book Canadian coins and tokens , I must say its a very interesting book and really nicely laid out, next books I will be getting will be Rob Turners
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Replies: 26 / Views: 3,818 |