| Author |
 Replies: 22 / Views: 3,219 |
|
Pillar of the Community
United States
601 Posts |
I'd like to introduce myself, a newcomer to the forum and a 25 year student of 20th Century Die Varieties. My name is Chris Welch, many of you know me or of me and for the rest of you, I look forward to crossing paths. For years, I have lamented that the E/V niche of numismatics has failed to garner the respect of "normal" coin folks and that Die Varieties were largely overlooked and dismissed by most dealers and collectors alike. THIS IS NO LONGER THE CASE!! Allow me to draw your attention to recent Teletrade auctions- PCGS added Cherrypicker's varieties to many of their registry sets.....this creates demand among the most (financially) elite collectors for what we've been collecting and playing with for many years..... Let me give you an example- I recently sold a 1942-D/D FS-502 Slabbed by PCGS as MS-66 for $750! A 1969-D No FG, FS-901 in MS-63 for $300 and an MS-64 example for $650! A 1984 DDO FS-102 in AU-58 for $475! Is this real? A couple of years ago, I'd have sold any one of the aforementioned varieties for $40 or less....but now PCGS has created a strong demand for these coins. While many coin series are waning in interest from collectors, I've seen Die Varieties develop from an obscure and esoteric niche to near mainstream acceptance from the major grading services.....Let's say THANKS! to the many, many people who have helped to popularize our field....Not just the original authors of CP.....but people like Ken Potter, who works selflessly to promote acceptance and recognition of die varieties, makes himself accessible to anyone who can dial a phone and who has recently undertaken the monumental task of "fixing" the Cherrypicker's Guide. Ken's COINage magazine ads introduced me to the hobby in the mid 80s.....Brad Podrozza of the LincolnCentResource, who has simplified the very complicated information that novices have to sort trough to make sense of.....Chuck Daughtry has spawned a new breed of E/V guys who don't buy books! Online info and CDs are the future, I just hope printed books don't become completely obsolete!.....I don't know why I'm mentioning specific individuals- there are sooo many individuals who are so truly and genuinely devoted to promoting the hobby, Just give ya'll a pat on your own backs- Understand that 10 years ago, when one asked if a dealer had any "doubled dies" the scripted response from the dealer was always something in reference to a 1955 penny...... Our hobby has evolved into something very respectable, I want to thank all the people who have paved the way....I quit my job waiting tables a couple of years ago and started selling off coins to pay the electirc bill, and now I get to play with coins every day, all day, whenever I want, while I watch my 2 sons grow up.....couldn't have dreamed of doing so a decade ago.  |
|
|
|
Moderator
 United States
56855 Posts |
I would like to welcome you to CCF,it looks like you will be a great asset to our forum.
John1 
|
|
Pillar of the Community
United States
4000 Posts |
Yes,  . I can honestly say that I have only been collecting for a little less than 2 years, at least seriously and trying to get educated about it. I started out just collecting one of each year and mintmark like so many other collectors. But thanks to this forum, and especially Charles Daughtrey, I have been bitten by the error and variety bug. I also appreciate everything that all of the above people you mentioned have contributed and dedicated themselves to.  I look forward to your posts and always keep in mind that around here  . |
|
Pillar of the Community
United States
958 Posts |
Yes your right liveanddie , people are paying large sums of money for variety coins.
My only assumption is they have to much time money and don't know what to do with it
|
|
Pillar of the Community
United States
958 Posts |
I'm mainly referring to the people spending 1.4 MILLION on a 1943 copper cent and $100k plus on a 68-s DD
I sure could think of a lot of things to spend 1.4 million on or even 100k on then having a copper cent sitting in a safety deposit box , But that just me
But for collecting purposes it does making it fun roll searching looking for the endless DD's and varieties of coins
|
|
Pillar of the Community
United States
3077 Posts |
Greetings great to have another set of experts eyes on site look forward to your post
|
|
Pillar of the Community
United States
744 Posts |
I too welcome you, looking forward to reading your experience and knowledge of this great hobby of ours, that you're willing to share.....Wild Bill |
|
Valued Member
United States
201 Posts |
Quote:
I'm mainly referring to the people spending 1.4 MILLION on a 1943 copper cent and $100k plus on a 68-s DD
I sure could think of a lot of things to spend 1.4 million on or even 100k on then having a copper cent sitting in a safety deposit box , But that just me
But for collecting purposes it does making it fun roll searching looking for the endless DD's and varieties of coins I sense some jealousy. Edited by Merc Crazy
02/12/2011 10:27 am
|
|
Pillar of the Community
United States
5818 Posts |
Like to see some of your collection. Please post pics! |
|
Valued Member
United States
268 Posts |
Welcome to Coin Community
|
|
New Member
Philippines
32 Posts |
|
|
Valued Member
Colombia
86 Posts |
It's great to have you here, welcome!
|
|
Pillar of the Community
United States
958 Posts |
merc crazy ,
Not jealous ( well maybe about not having 1.4 million dollars , just saying if it was invested in coins I dont think thats the way to go investing in one coin ). Some of these rare varieties like the bronze 43 cent spending 1.4 million does not appear logical to me ,as the Op mentioned in the last 10 years people have started paying huge amounts for variety coins .
Someone could use 1.4 million to buy 100's or 1000's of KEY date high grade coins to every U.S coin set that ever existed. These key date coins people would need and always be in demand by a large market of collectors .
Paying 1.4 million dollars for a 1943 bronze cent could come to a shattering nightmare if someone bust open a bank roll of BU 44 cents and find 20+ 43 bronze mixed in. That 1943 would not be worth 1.4 million with 20 new BU examples on the market.
Even if no one discovers a another 1943 bronze right away it could happen and time is against the side of the owner. So If 20 yrs go by and no one discovers another 1943 and the owner tries to sell the 1.4 million dollar cent he has a very small market of buyers. If he took that 1.4 million and bought 100's of $ 5,000 to $10,000 key date coins he would have a much larger market to sell to if he decided to sell some of his investment Chances are the profit of selling 100's of high grade key date in coins in 20 year versus trying to sell the 1.4 million dollar cent would be easier if not great.
When it comes to varieties once one gets discovered lets say the 1988 rvd-006 cent with the 89 reverse a huge price is paid by some. Then as more and more turn up the prices goes down then stabalizes
|
|
Moderator
United States
15381 Posts |
Indeed .... Pleased to have you here and looking forward to your valued contributions. David |
|
Pillar of the Community
 United States
601 Posts |
I have to agree with you Coppertop. Prices will come down, but I'm having a thrill riding the market. PCGS just started slabbing FS varieties about 2 years ago, so their populations are going to be artificially low for some time. The guy's who are paying thousands for FS varieties though, either don't know or don't care. It's essentially a pissing match between rich guys!
My main point is this- a decade ago, when you walked into a coin shop and referred to a die variety, the dealer pretty much would laugh you out of his store, or not want you to waste his time....NOW, with very respectable prices being garnered, our esoteric niche is coming into it's own. Die varieties are finally (slowly) being accepted by mainstream numismatists. PCGS is largely responsible for this, but not nearly as responsible as each one of you for promoting knowledge and understanding.
|
|
Bedrock of the Community
United States
19930 Posts |
Welcome to CC Chris!  |
| |
Replies: 22 / Views: 3,219 |
Posted 02/12/2011 09:16 am
