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 Replies: 15 / Views: 2,001 |
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New Member
United States
2 Posts |
Condition rarity and actual rarity seems biased in some cases. An 1893s mint Morgan has actual rarity in any condition because so few are available and very few are in MS condition because all were put in circulation.
On the other hand the 1885CC Morgan had very few put in circulation with over 65% put away in Federal banks vaults for nearly 100 years
NGC has certified nearly 24.000 1885CC Morgans in MS condition but only 154 coins in lower circulated grades. These coins withstood time, melts, being lost or damaged or just being worn out.
With a mintage of only 228.000 coins and 65% stored allows for only about 75.000 put in circulation, far less than the very expensive 1893s Morgan at 100.000. NGC has certified only 39 1885CC Morgans in VF 30. Do the math, witch coin is rarer, 1 of 24.000 or 1 of 39 that has history on its side, not a bag! As a long time collector of rare coins this particular issue seems to go against every rule of numismatics.
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Moderator
 United States
188342 Posts |
 to the Community! |
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Pillar of the Community
 United States
8938 Posts |
A modern example is the 1961-D and 1963-D Lincoln Cents. In MS65RD they are a R-1 coin, in MS66 R-2, and in MS67 R-6.5. Big jump in rarity.
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Pillar of the Community
United States
4416 Posts |
to the CCF! The only rule of numismatics of which I'm aware is: "He who has the gold makes the rules."  Seriously, though, I don't think that this aspect of collecting can be quantified across the board. Edited by ExoGuy
10/01/2019 6:46 pm
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Rest in Peace
United States
17900 Posts |
I can go outside and grab a natural rock. To get an exact duplicate of that rock would be nearly impossible even with a limitless number of rocks in the world.
Rare does NOT mean valuable.
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Pillar of the Community
United States
8137 Posts |
And you have to remember that grading companies only report what has been submitted to them. In reality, there are probably hundreds, if not thousands of raw circ. 1885-CC Morgans out there. The grading companies don't report these because they aren't submitted.
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Pillar of the Community
United States
3343 Posts |
The problem gets worse with the 1882-3-4 cc's, each of which is more common in high grades than many common date Morgans.
I'm carrying a beat-up 1859-S half eagle as a pocket coin right now. It is 200x rarer than an 1893-S Morgan. The melt value is more than half of what I paid for it, and a comparable 1893-S Morgan would cost three times as much. It a pre 1860 San Francisco coin, real Gold Rush money. It's so shabby that carrying it can't hurt its value.
With all this going for it, I wonder why other people don't do this. I'm glad they don't because just one other collector would exhaust the supply.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/02/2019 2:44 pm
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Bedrock of the Community
United States
20753 Posts |
Just to many variables in coin collecting |
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Pillar of the Community
United States
2797 Posts |
One thing you need to account for with Morgans is the "melt". The Pittman Act of 1918 resulted in the melting of over 270 million Morgans. There was no accounting for date/mm, only raw numbers. Mintage figures will be forever skewed. The survivor numbers are estimated based on PCGS, NGC, and ANACS grading. And even these are skewed with resubmits.
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New Member
 United States
2 Posts |
most explanations tend to lean to the fact there are no true actual rare circulated Morgans, only uncirculated coins in MS condition!
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Bedrock of the Community
United States
17884 Posts |
And most of the uncirculated Morgans aren't rare either.
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Pillar of the Community
United States
1613 Posts |
Diamonds come to mind when thinking about mintage rarity vs. conditional rarity. By no means are they rare, billions and billions have resided on as many fingers for centuries. Yet for a few weeks every year, at Christmas and Valentine's Day that $1,000 dollar stone costs $100.00. Why? Because DeBeers controls 99.9% of the global market. With coins, it's similar in some ways but set by a select group of wealthy individuals setting the market price. So, yeah. I agree with you Moxking.
The only exception to the rule would be those with unique status. Say the 1849 Coronet Head Double Eagle.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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CCF Advertiser
United States
1533 Posts |
I saw a common, low grade dime which was like a Pop 2 in grade as no one had bothered to submit any. Condition rarity doesn't mean much if no one cares. Even actual rarity only means big bucks if it is supported by demand. There are many R6 and R7 patterns that are cheaper than a decent 1877 Indian Head cent or 1909-S VDB cent, but since collectors of patterns are mostly dead now, they trade at a relative discount to the other more common rarities. Edited by Andrew99
10/14/2019 4:42 pm
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Valued Member
United States
171 Posts |
thq and your 1859 half eagle:  you're carrying around a $1,000 dollar coin as a pocket piece !? |
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Pillar of the Community
United States
3343 Posts |
What are pocket pieces for?
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Moderator
United States
188342 Posts |
Quote:
What are pocket pieces for? Whatever you want them to be. I carry an Ike to make me happy and not want to choke certain people.  |
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Replies: 15 / Views: 2,001 |
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Posted 10/01/2019 5:51 pm
