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1955 Lincoln DDO Story

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Author Previous TopicReplies: 5 / Views: 2,322Next Topic  
Pillar of the Community
Indian1's Avatar
United States
3640 Posts
 Posted 06/10/2010  12:00 am Show Profile   Bookmark this topic Add Indian1 to your friends list Get a Link to this Message Number of Subscribers
If I knew then what I know now kind of thing
with a sign of the times added.
I was on the phone earlier with a potential coin customer
and we were talking about this and that. He is in his mid sixties
i would think, and he told me about a 55 DDO he had bought back in
1958/59 when he was a kid. A friend of his told him there was one for sale at a local coin dealer here in Mass. He stated the dealer wanted
$6.00 for it. He wanted one real bad and went down to the dealer.
The dealer told him it was $12.00 He was a little upset as you can imagine. The dealer decided to jack up the price. Anyway, he decided
to buy the coin and paid for it with 12 Morgan dollars. 10 years later he sold it for $200.00 H'mmm...
That was a decent premium at the time. Of course now he wishes he never sold it. Think about it, the 12 morgans (if not anything special) are worth at least $200.00 today. Only if he had paid for the coin with 12 ones and kept it along with the 12 morgans.
Who even knows what the morgans where. Only if, only if...
Valued Member
Stunet's Avatar
United States
211 Posts
 Posted 06/10/2010  12:28 am  Show Profile   Bookmark this reply Add Stunet to your friends list Get a Link to this Reply
If we knew then what we knew now we could all do very well with the stock market. Better to enjoy the coins.
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SeatedNut's Avatar
United States
2797 Posts
 Posted 06/10/2010  09:37 am  Show Profile   Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
I got into this hobby at an early age ... around 5 or 6. Dad was into it then and took me under his wing. You would all cry if I told you what was available then (1957-58) and the price on it. I remember those 55 double-dies at around $10~$15. You could acquire an 09-S VDB for less than $30. Common date Morgan and Peace dollars were going for $1 ... yeah face value. All the circulating 10 cents through $1 were 90% silver. Coins from the teens and twenties were still circulating.

Unfortunately our family was living paycheck to paycheck. $5 was the cost to eat out for a family of 5 (and not hamburgers or hotdogs). Dad made some purchases (all small then) and sold these in the 80's when faced with more hard times. I was able to keep my Whitman folders intact, but they all have holes at the key dates.
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mycrob's Avatar
United States
2602 Posts
 Posted 06/10/2010  1:38 pm  Show Profile   Bookmark this reply Add mycrob to your friends list Get a Link to this Reply
One wonders, with the difficulties many people face economically right now, if many key and semi-key dates are flooding the market once again so they can raise money to feed their families? The only key date that I'm familiar enough to know is 31-S Buffalo nickel. This date is really flooding the market right now. A year ago there might be 30-40 on ebay, now there's 110-150 range
Pillar of the Community
United States
573 Posts
 Posted 06/10/2010  6:59 pm  Show Profile   Bookmark this reply Add StJoeBlues to your friends list Get a Link to this Reply
What a great example of how the Fed has used inflation to suck up our wealth.

12 Federal Reserve Notes or Silver Certificates (no longer backed by silver) in 1959 = $12.00
12 silver Morgan dollars in 1959 = $12.00

12 FRNs or Silver Certificates in 2010 = $12.00
12 silver Morgan dollars in 2010 = $200.00

So the question is this: Has the price of silver gone up since 1959 or has the value of the dollar gone down?

Matt

Valued Member
needgames4lyfe's Avatar
United States
323 Posts
 Posted 06/10/2010  7:24 pm  Show Profile   Bookmark this reply Add needgames4lyfe to your friends list Get a Link to this Reply
I think both silver has gone up and the dollar has gone down StJoeBlues
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