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 Replies: 14 / Views: 2,119 |
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Pillar of the Community
Canada
1081 Posts |
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Pillar of the Community
United States
7613 Posts |
"XUG 946" as the Certification number must translate as "extra ugly"?
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Pillar of the Community
United States
7273 Posts |
I have the same issue with several key dates like 1916D Dime and 1877 cent. For both of those I purchased locally and raw. Neither in great shape (both G), but I couldn't justify the $500+ for a better grade. The 1909 S VDB I picked up in VF, but I haggled that one down and paid cash.
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Pillar of the Community
United States
1026 Posts |
I agree there is a point where I can't justify the price.
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Pillar of the Community
Canada
851 Posts |
The 1873 5 cent Newfoundland's are never ever in the 50-100 price range. Not sure how we can ever find them for a sensible price when there are so few out there.
While I do agree that sometimes the price is just too high to justify a filler, this coin is so scarce collectors are lucky to find them in any condition. Collecting all three varieties of this coin will be almost impossible unless you have a giant bank roll and a long time to wait. I have lots of time, but am hindered by the $$!
Ps - even though it is kind of ugly, most NL collectors would love to add that coin (above) to their collection!
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Pillar of the Community
 Canada
1081 Posts |
@TheDeductible - I get that but I still think the asking price for those three is crazy. And another way of looking at it is that if you burned 70% of the Mona Lisa would it still be the Mona Lisa? It probably depends which 70%....it would be changed regardless. But it's tricky with those three wee coins - it they were less rare then they would be worth their melt value and that's it. I'm not saying they're not collectable but the asking prices are, to me at least, outrageous....
I actually have all three of the 1873 5 cent: one is graded G-6, one is VG-8 and one is F-12. It took a while and it cost >$2,000 but it's doable. Agreed that anything above those grades for most of those coins is unlikely unless you get very lucky. But my personal limit is damage: anything bent, missing significant portions of the lettering, significant rim damage or really big dings and digs that you can see by naked eye are pretty much out.
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Pillar of the Community
Canada
851 Posts |
I agree about this for sure. The price is nuts but its based on scarcity and the price is in the eye of the beholder. Even for holed, bent or damaged coins, some will see tremendous value where we see none. I get it though. To say even the crappiest version you can find is worth $200-300 depending on the variety is a hard pill for some to swallow. However, just imagine if there were 20 or even 50 times as many Newfoundland coin collectors! The coins would be so much scarcer and harder to find in nice condition, that you might find yourself lowering your standards a little :)
One day it could happen. All it would take is for some celebrity or other influential person to show the world their interest in the series. And lets face it, aside from ancient coins, the NL series is the most beautiful of its kind.
But then Silver, you already have all three varieties. I giant influx of new collectors will not affect you!
You are lucky to have all 3! Do you live in NL? Did I already ask you that lol?
Will you post your 1873's or is that too much to ask? I'd love to see them.
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Pillar of the Community
Canada
1081 Posts |
I'm not set up to take photos as of yet - it's a project for the summer (assuming it's possible in the midst of this lockdown! And no, I don't live in NL, I live in the wretched, evil city of Toronto... Please don't judge me!
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Pillar of the Community
United States
1962 Posts |
Quote:
However, just imagine if there were 20 or even 50 times as many Newfoundland coin collectors!" But there AREN'T... and it's North America, not a China or India where economies magically developed out of nothing. Massive amounts of new collectors of Newfoundland coinage aren't going to magically appear. A few days back, I bought a high grade but problem 1882 Nfld 50c piece (cheap) that happened to cross my path. I ebay searched quickly to verify my notion of prices, and it's amazing just HOW many examples are sitting as BINs relative to what has sold recently. Asking prices (which seem to be somewhat in line with "catalog") seem to be simply wishful dealer thinking, not sensible equilibrium. |
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Pillar of the Community
 Canada
5585 Posts |
Well, silver101, gidgit and I are right down the road in Burlington.
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Pillar of the Community
Canada
1081 Posts |
Well hello to you both - I'd invite you over for a beer but the social distancing would get in the way! Maybe it Torex ever happens again...
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Pillar of the Community
Canada
5585 Posts |
I gave up on Torex's 7-8 years ago because of ownership and their recent auctioneers. I'm Coin Expos all the way, as are almost all my friends. We all gave up on Torex years ago.
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Pillar of the Community
United States
1962 Posts |
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Pillar of the Community
Canada
1081 Posts |
@realeswatcher Pacoin's the real deal. Note the inclusion of defects in the coin description. And while not exactly problem-free, that coin would be a reasonable start for someone who is after the NFLD key dates. All the lettering is legible, there's some detail in the cameo - even a hint of detail in the braid - the beads are almost all there and there's even some 3-dimensionality to the little loops on the reverse. The scar on the obv makes it a little hard to grade - leaving that aside I would put this at VG-8, maybe even a tad higher.
Point being that this is an ethical sale. Compare the quite reasonable initial asking price to that of the three coins I listed in the original post! All are in the 500-800 range and all three are bent, missing letters etc...etc...
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Pillar of the Community
Canada
851 Posts |
Its a petty good price, but keep in mind the coin for sale is the least scarce of the 3 varieties.
Great opportunity for anyone who needs this variety!
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Replies: 14 / Views: 2,119 |
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Posted 04/23/2020 3:19 pm
