coin club pickup: 38-D Walking Liberty
rmorgan
Posts: 249 ✭✭✭✭
I attend a local coin club that meets weekly and members put in coins for a mini auction. Last night I noticed a 38-D Walker, which was a key date I was looking for. I'd like to think it grades Fine, and I would have liked better, but one can't choose opportunities. Minimum bid was $35, and I was the only to bid on it. Maybe someday I'll upgrade, but for now, thanks to participation in a local club I have this key date.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
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Comments
Sorry, but I think you overpaid. The 38-D half is neither scarce nor rare and that one has considerable wear to boot.
Your coin club sounds like fun. What is the average attendance? And types of coins seen/talked about?
I've been attending for just 3 months. Attendance is always in the 30s. I'd say they have 40-50 items for auction each week. These can include coin sets, American Eagles, an occasional folder with coins, some foreign coins/currency, a small group of coins, slabs, and individual coins in flips. Last night included a complete set of 46-64 Roosevelts, a small jar of 60 worn V nickels, Peace and Morgan dollars, a large cent, etc. If one is looking for anything to buy, there are opportunities. But it is not as productive as a show for the one who is looking for certain things and certain grades in particular.
I was surprised when I learned they meet weekly. I'm starting to get to know other collectors by showing up each week.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
Good to hear that this hobby is going strong in your area and it sounds like it has a perfect setting to just enjoy and have fun in the discovery of coins. And networking!
I know this specimen has a lot of wear, but I decided that I'm willing to accept lower grades on more expensive coins as I work to complete a set. From my research, I have not seen any suggested pricing or recorded sales of 38-D (in even a Good grade) for less than what I paid.
https://www.pcgs.com/auctionprices/details/1938-d-ms/6605
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
I don't think you over-paid. Similar coins have recently sold on eBay for $30 to $40.
Your coin is a decent damage-free VG-10 (in my opinion).
You did ok, recent PCGS vg10 sold for $40 on eBay.
I’ll buy ‘em all day long for vg10 38-d coins like that for $30 each
The fact that you were the only bidder and were bidding against the reserve should be of concern. This is not the time to be generous with one's bids on coins like that. Many hoards of lower grade 38-D half dollars undoubtedly exist. Many of the holders of such hoards will soon be passing from the scene and the heirs will be dumping them into the market. Be patient when buying 20th century "key" and "semi-key" coins. They are not scarce or rare, just hoarded.
You did just fine with what you paid for that coin. Its is a little tougher to acquire then some of the other walkers. Nice coin to fill the spot in your set!!
HAPPY COLLECTING
Nice pickup, and glad to see you participating in your local club.
I agree with VG10 grade, and I don't think you overpaid.
Yes there are plenty of them around, but no one is giving them away, and you
won't find one searching through groups of junk silver. The dealers always pluck these
out and put them aside when they purchase low grade sets.
As a side note, this coin is FAR more common in MS than in AU. When building my set many years ago (pre-internet), I would always see MS coins at shows, and seldom see an AU - as many were saved at the time of issue due to the low mintage. Grading and pop reports have bore this out to indeed be the case. To this day I still have an AU in my set, as I felt the prices for MS coins were unreasonable. Checking recently, it looks like they've fallen back to about where they were 20+ years ago. So I guess I wouldn't have really lost much LOL!
You may have overpaid a bit as F12's and below are selling for less than 50 bucks in PCGS plastic. (eBay)
But if you are happy, so am I!
Per CoinFacts
I think you did well
Keep hunting and ignore the forum boo birds
"Inspiration exists, but it has to find you working" Pablo Picasso
Gee. I wasn't posting to get affirmation on the quality of the "deal" I got. It's only $35, and I might take out my wife to dinner for more than that. What interested me was finding a missing key date at a reasonable price.
When I posted, I did want to call out that participation in a local coin club can have value - whether it be occasionally finding an interesting coin or meeting new friends.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
That's the hole I could never fill as a boy. I was tickled to death when I got my first raw XF example.
Glad you're having fun and that you were able to pick up a tough one for your collection.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
You did fine with the purchase. No need to slab that coin. Why add to the cost of a coin when it isn’t necessary. It’s a date that I never bought when I collected Walkers by date.
I think it's pretty cool that the club has WEEKLY meetings.
I like it a lot. It's a scarce coin with honest wear. Plug it in and be happy.
Pete
Whats your next coin to hunt for?
Nice pickup BTW
As far as wear goes, I think yours compares favorably with my F12...
... and for the next lowest grade, here's my 1921 VG10.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
The 38-D is the 3rd lowest mintage of all non-proof Walking Liberty half dollars.
So I'd say it's scarce -- for a Walker.
Anyway, I doubt you'll ever find one roll-hunting.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
hole filled, and an evening at the coin club. I'm jealous
Good job. Just make sure you take your wife out for a $40 meal - selling half your coins would suck.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
You did fine (or VG IMHO) for the price, and it sounds like you had fun getting it for your collection.
Pay no mind to the occasional toilet water splash that tries to take away your fun, it's not just about $$$.
10-4,
My Instagram picturesErik
My registry sets
You are right; and I would include XF grade as well.
Not an easy coin to find in those grades.
I like the coin, honest wear. I wish there were a club near by
that I could attend. When you take your blushing bride
out to eat, don't make a public spectacle of yourself fighting
over the toy that comes with the meal.
Nice pickup.... I agree with VG10... maybe a tad better in hand... Weekly coin club meetings.. great...sounds like an active group. Wish there was one around here. (I live in a coin desert)....Cheers, RickO
Super pickup, nice coin this is a key, better date coin no matter how you slice it. Furthermore you got a great deal on it - you did not overpay lol. Everybody knows this is a highly sought after better date.
It’s a coin I would sell for $65 G, $75 VG, $90 F, $105 VF, $160 XF, $225 AU, $550 MS63, $850 MS64, $1250 MS65 based on my analysis of what these are trading for in the marketplace.
Would have bought at $35 in a heartbeat. Surprised no bid war on this they must have run out of money. They gave that one away! I pickup this issue whenever good but for me as they sell quickly online or on bourse from my table.
I would grade it VG and put in my online store at $75 possibly at BIN / MO with offers below say $55 auto reject. Better date collector coins have been seeing strong demand.
I would love to find a frosty, gem, white MS65 example of this issue.
There is a similar club in my area. There's an auction every week. I started attending a few years ago when I inherited some coins and got interested in filling out a set of Washington Quarters. Since then I've built a very nice collection of US Coins that I am proud of and enjoy with my kids. I am somewhat of a novice and not very savvy but I've never felt taken advantage of, everyone is there because we enjoy the hobby and the fellowship. I have acquired some really nice coins there, mostly by trading, and also sold some and always feel I get a fair deal. Also gotten a lot of help and advice with my collections. They also have an annual coin show that's well attended, and do community events for the local schools and Scouts. What I value most is the friendships I've formed with others that enjoy this nerdy hobby.
For what it's worth, I think you got a nice deal on that coin and am a little jealous as I'm looking for one too
.
Nice pick up!
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My guess is that of the 30 or so in the room, I was the only one currently focusing on building a Walking collection with a known need for a 38-D. Of course, the numismatic value of a coin to a collector (non-dealer) is not so much what a book says, but how important it is to that collector to acquire that coin.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.