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Underrated Kennedy Half
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In a recent article we explore the importance of the 1970-D Kennedy Half Dollar. Marking the end of an era, it was the last of all circulating-issue United States coinage made with a silver composition. The mintage of 2,150,000 pieces, makes it the lowest for business strike Kennedy Half Dollars from 1964 to 2005.
Learn more about this often overlook key-date issue here: https://www.pcgs.com/news/1970d-kennedy-half-dollar-turns-50
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This was a hot item back in the day and for almost 15 or 20 years after. Nowadays, it has lost its following. I remember when it was moderately exciting. My Dad ordered 5 Unc. Sets from the Mint at the time, and I still have three or four of those - plus many others cut from Sets.
Marking the end of an era, it was the last of all circulating-issue United States coinage made with a silver composition
this sounds good on its face except for the fact that it wasn't issued as a circulating coin, it was only issued in 1970 Mint Sets. to my way of thinking the distinction of "last circulating silver issue" belongs to the 1969-D Kennedy Half-Dollar.
Virtually all of them survive in mint state. Not scarce ... not rare ... and in a series few care about.
Not underrated.
That last part isn't true. Kennedy halves are one of the most popular series of the latter 20th century. @wondercoin would certainly disagree that few care about it.
Attrition on this date has been very high for a numismatic issue. This has been caused by years of low prices (in the mid-'90's) and more importantly the dreaded mint set tarnish caused by a thin PVC lining that touches the coin in original packaging.
What few collectors who don't collect these realize is even if you can find a nice pristine example most of the mintage was not very well made and the majority were beaten up wrestling them into the poor packaging. The demand for nice attractive specimens is so tiny that nice Gems can still be had for a song if you're willing to put in the time and effort to find one. Specialists are aware this coin comes in nice Proof Like and sometimes with very little marking.
Never seen a PVC problem with a 1970 dated Unc. Mint Set. Not once.
They turn dark and splotchy rather than green.
I think it's one of the 'cool' moderns. I have a blazing 65 in an OGH and a 64 I made. These are very tough to find in higher MS grades
10-4,
My Instagram picturesErik
My registry sets
My local dealer has told me he has little interest in buying Kennedy Sets in albums when they are offered in his store. Weak demand.
There may be "registry set" demand but that probably amounts to a few hundred wealthy collectors who want high grade slabbed coins only.
The series is very popular because it is affordable to low budget collectors and is very common making it very easy to buy even in high quality. There is a difference between popular measured by the size of the collector base and an actual collector preference. The best single (though hardly infallible) indication of an actual preference is when collectors buy it over anything else in the same price range.
For this coin, it's evident from the population counts in MS-66 that it does have a core following who are able to buy a many alternatives. For the few MS-67, doesn't say much about the popularity for the series in the aggregate, as this is true for US coinage generally.
I don't consider it underrated either.
There is far more than registry demand. The Half Dollar is the driving force for a lot of modern proof and Mint sets. It's what drove the Apollo 2 pc set to a sellout and price appreciation. It is a major driving force for the 2018-S reverse proof set and created a buzz with the "light finish" coin.
You are making too much of the fact that dealers (including myself) don't want to pay more than face for AU/Unc sets of Kennedy halves. You know what? We don't want 95% of Wheat cent sets either. But it's not because Lincoln or Kennedy aren't popular with collectors. It's a glut of material and low prices. What am I going to get for an UNC 1974-D Kennedy? $1? How long will I have to wait for someone to come along and pay that dollar.
I have a Kennedy set (Dansco) 64-2001 that was put together in a rather unique way. A local shop here got much of my business filling holes in the 1994-1998 era. Fun time. But, as a way of thanking me somewhat for my loyalty, the shop owner brought out a large segmented box of plastic rolls one night . . . BU 1964-1992 or 1993. Old school dealer . . . old school rolls. He let me spend a few nights going through each choice roll . . . selecting the best coin for the Dansco. Many dates/MMs had several rolls. I got them at bid or so . . . most in the $2-$3 range except the better dates. The rolls were gemmy to say the very least . . . and it was quite frustrating looking at the last 3-4 per roll that each seemed perfect in its own way, then making that selection.
Yes . . . grading has crossed my mind . . . but dumping that amount of money into Kennedies makes me realize how a dealer feels.
I filled the album out to 2001 with Mint Set cut-outs and Silver Proofs . . . but the 64-92 set is something not usually seen. A " Roll Pick " set.
Fun to look at . . . but like the posters above have said . . . not much interest in it even if I take it to my table at a local show and show it off . . . . . .
Drunner
I agree that Kennedies are popular, just about even with Ikes.
I have little trouble selling either type if the price/grade/color is right.
Kennedy proofs still sell well.....raw and (especially) slabbed.
Wholesale price on several dates of the BU rolls exceeds $30. The '70-D is $260.
There's a small demand but it's vert steady and growing.
Most of the Ikes are up to $60 a roll now days but nobody seems to notice.
the 1970-D Kennedy Half-Dollar is one of those issues that you'll hardly ever see non-Mint State. sure, they're out there and I bet someone could find a listing for one in a few minutes, but it is such a miniscule percentage of the entire population that it isn't worth mentioning. the date isn't rare/scarce/hard to find, it is an R1 and always will be. I can't understand any expression of the date as a "key" or any other descriptor, though it is generally the last coin the album hole fillers tend to buy.
we used to sell all but a few of the clad dates for $1.25 each BU. the Silver Clads were about $4 and the 1964-P/D were around $8-10. the 1970-D was usually around $10 and I used to try to get collectors to just buy the entire Mint Set for a buck or two more.
the only time this coin gets anywhere near expensive is slabbed MS64 and up. also, at that price it really isn't worth GETTING slabbed unless you know it'll grade MS65 and up. just buy a nice one in a set for $11 and spend the other coins.
“Virtually all of them survive in mint state. Not scarce ... not rare ... and in a series few care about. Not underrated.”
Kennedy half dollars are one of the most underrated US coin series out there! And, not just because one date in the series alone is already worth $150,000.00 (and not even in pop top grade).
For those of you out there that have not been trying to locate a true superb gem MS67 grade 1970-D Kennedy half dollar let me tell you something...
I started actively trying to find the coin in 1983 - about 36 years ago. In those (36) years I found a grand total of (1) specimen! Dozens and dozens of MS66 grade coins (repeat ... dozens and dozens .... not hundreds and hundreds) but even those MS66 specimens were few and far apart. The typical Mint Set coin (only place they come from) grades MS62 or MS63. MS64 if you are lucky! These coins are very scarce in superb gem quality as well as solid PL specimens which can occasionally be found (and are a sight to behold when you score one)!
The 1970-D Kennedy I believe is an important modern coin, scarce in the highest grade of MS67, very rare in MS67+ and higher, totally underrated and very popular with many collectors today.
A coin I simply love!
Get one slabbed in a PCGS-MS67+ or better holder, and I will make sure it sells for an incredible world record price, whether I win or lose the coin!
Wondercoin
Yes, the 1970-D Kennedy is very difficult to come by in a true gem grade.
PS:
Back in the day when I used to go through rolls of half dollars from banks (looking for 90% and 40% silver) I found two 1970-D coins. I had to go through at least 50,000 coins to find those two. This would have been in the late 1970s and early 1980s. Of course, 1970 half dollars rarely reached circulation.
Underrated compare to what? Nothing is underrated in isolation.
Not a popular opinion with modern collectors but in the internet age, this type of coin is not competitive to the overwhelming majority of collectors versus the available alternatives above a nominal price range; in the vicinity of what a PCGS MS-66 costs now. I was looking at the Heritage archives yesterday and it costs between $200 and $300. The PCGS count is now 590 in 66 (excluding plus) with 15 in 67.
Gradeflation? presumably. Some duplicates? Sure, but almost certainly more not graded than resubmitted. Nothing significant about the rarity in the highest grade either, as this is true of practically any coin excluding NCLT, modern proofs and the more recent (mostly SQ and later) circulating coinage.
Collect it if you like it but there are a lot better values in other coinage for this money.
I put together a Kennedy half set years ago when I lived in Seattle....still have it... I did buy the silver proof mint sets as well... up to about 2010....have not looked at them for a few years. I did roll search half dollars - and still do occasionally...but mainly for the occasional WLH... and yes, they do show up from time to time. Cheers, RickO
How about the '50-D nickel.
It was worth about $300 in today's money back in 1964. It had a significantly higher mintage and lower attrition because it was so valuable. Almost all were set aside just like the '70-D. The '50-D were all alike according to the standards of the time; they were BU. Generally most were in a narrow grade range even by the standards of our time. Anyone who wanted a coin for his set could buy any of the 2 1/2 million coins.
The '70-D exists in far smaller numbers because of an ongoing 1.5% attrition (not to mention the mint set tarnish). Most specimens were somewhat unsightly when they went into the packaging. Anyone who wants a nice attractive example has about 5% of the mintage from which he can choose.
Today the '50-D is still common, still cu/ni, and actually sells for more than the scarcer large silver '70-D!!!
Another thing about the '50-D/ '70-D;
The '50-D was heavily concentrated in the hands of a few dozen individuals. This generally works to hold the price down. The '70-D was subject to a household ordering limit of "5". They were widely dispersed in 1970 and they remain widely dispersed today.
Even wholesalers stock pretty small quantities of these because they and everyone else knows there is an endless supply of pristine 1970 mint sets. Everyone knows this supply will never be exhausted because there were millions minted and the supply has always greatly exceeded the demand.
I am still looking for this coin in MS67 for my registry set. I have a few in MS66. All are PCGS Certified. With all the hoopla on the 2019s ASE just released and now heading towards the $3k aftermarket, I would spend that type of money on upgrading my Kennedys...I thought that the 64 SMS Kennedy went for more. You do have several nice sets of these coins!
Kennedys are my quest...
I have a mini hoard. Cherry picked back in the day. Most would grade 66 IMHO. I would like to think they will always be a key.
100% Positive BST transactions
"However, a spike in silver prices during the early 1960s led to the widespread hoarding of circulating silver coins – suddenly worth more for their silver content than their face value."
The public hoarding was caused by anticipation of higher prices, not actual higher prices. The government held the price of silver below its melt value in dimes, quarters and halves until early 1967, after coinage of 90% silver had entirely ceased. During this time, the only coins in circulation worth more than their silver content were war nickels.
"In a move to prevent hoarding of 1970 uncirculated sets, the United States Mint did not disclose that the 1970-D Kennedy Half Dollar was struck for inclusion in the mint set until after the last orders for the sets were completed."
I recall an investment newsletter, while the ordering period was still open, recommending the purchase of 1970 sets because of the likelihood that the Kennedy half would be a mint-set-only option. I was able to order 5 sets (the maximum ordering limit) for $2.50 each before the cutoff. Sold them for about $12 each the following year.
My Adolph A. Weinman signature
Spend unless you have a 70 s small date lincoln.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Can't argue with you on this one.
I wasn't trying to pick on Wondercoin's post because I can appreciate his passion (and yours). However, I see this sentiment a lot, for any number of coins. Almost every time, it's the one making the claims having a higher opinion of what they collect versus practically everyone else.
Certainly I don't expect 10,000,000 people to start chasing the '70-D like there were chasing the '50-D.
But my point is that it's not hard to picture 10,000 who would like to have a nice Gemmy (MS-64) or better example and this would push the price far higher because there are not nearly this number easily found. Only a limited number will come out of the woodwork and these are very widely dispersed.
I like the '70-D. I didn't as much back in the '70's because it "seemed" like NCLT to me. But over the years they've changed hands a lot and the coin has grown on me. Even chBU examples aren't really unattractive since like all mint set coins they are well made but they do have a lot of marking. The coin is a milestone and the end of the era of silver. Since it occurred after the advent of clad it was relatively ignored. The range in grade is extreme but most are MS-62 and 63 with significant numbers in MS-60 and, now days, even in AU.
You have to get up to MS66 before it's practical financially to slab this date. You don't find more 64s because nobody is submitting the raw ones that exist in that grade- they can be had already slabbed for $15-$20.
This coin isn't going to increase in value "noticeably" because the outcome you are implying would make it uncompetitive versus the current and even much better alternatives. 10,000 collectors attempting to acquire this coin as you imply would send the price up substantially, as in a noticeable multiple. That's what I meant by the quote you extracted from my prior post.
Every time I read the sentiments in the title of this thread (literally), the writer ignores what I am telling you. Almost no one (literally) collects in a vacuum where they will ignore the price of other coinage.
This coin and series has two factors in it's favor:
I could list the negative factors working against it but won't. Regardless, to the overwhelming majority of the collector base, it isn't competitive above a nominal price level; not even the prices I listed for an MS-66 in my prior post here. It's preferred by top quality US modern collectors and Registry set participants but hardly anyone else.
As examples, this coin in MS-66 costs roughly the same as numerous MS-64 Barber quarters. I have seen several nice ones on Heritage in this price range. If I look hard enough, I know I can find numerous other 19th century US type coins in decent to better quality also in the same price range. From non-US coinage, Heritage recently sold an NGC MS-63 12th century Crusader denier for about $300; quite a nice coin. Most Kennedy or even US collectors probably don't even know this coin exists. Over 99% consider these examples and thousands of others at comparable prices "better"
Relative to other coinage, not only is this coin not underrated, it's almost certainly destined to lose noticeable proportional value as the proportion of future collectors who select this series shrinks; only a noticeable increase in the US collector base will keep it stable or increase it. Otherwise, it's going to get its proverbial lunch eaten by the continuing avalanche of (world) NCLT which your favorite demographic group (younger collectors) prefers by an overwhelming margin even now.
Almost no one (literally) collects in a vacuum where they will ignore the price of other coinage.
Everyone who collects Kennedys is interested principally in the cost of Kennedys. If you collect Ikes or indian cents then you don't care about the cost of Kennedys.
There are cheaper as well as far costlier coins. So?
>
Do you realize that BU Ike prices have increased from $40 to $60 per roll in the last couple years? Why would you assume there will be fewer collectors in the future? Even if prices were going down, there's still no way to predict the future. God knows I've been trying a long time now.
Lots of world moderns are going up. As time goes by collector tastes change. This is one of those "demographic" facts that you seem to so strongly to ignore. Individuals and groups change over time. I don't know what modern collectors will collect next but I know they'll continually evolve individually and collectively shaped by their individual and shared experiences over the decades. I really don't care if they never collect 1970 half dollars but they'll be missing a great coin at a great price if they don't. To each his own. Some people will even prefer it if you're right and the price comes down.
Good luck with your predictions.
Wrong. This type of thinking is an example of why your predictions have not been accurate. If 10,000 attempt to buy this coin as you imply, it would go up a lot. How much, who knows but future collectors aren't going to pay five, 10 or higher multiples versus today for this coin when most other coins costing about the same sell for much less. This coin simply isn't that interesting.
All the current primary alternatives aren't going to increase proportionately with it either, not in constant prices as this would price practically all collectors out what they want to buy. They aren't going to go "down the food chain" endlessly either to buy what you have implied in the past because that's not how collectors act.
I'd call it one of the 100 most interesting coins of the world for the last half century.
But what do I know. I'd call the coins of the last 60 to 70 years the most interesting of all coins as a group. I've collected almost everything and as far as I'm concerned the only weakness of the clad 1970 half is that it contains some silver.
So you have told me many times and yet the evidence proves you are wrong. There is no evidence that collector preferences operate as you have claimed. I have already explained to you that your demographic claim is unsubstantiated with specific reasons. I have never ignored your claims, I just disagree with you and have much better evidence to support my position.
The reason I mentioned demographics in the context of aging here is first, because there is actually some evidence to support it as opposed to your claim. And second, these coins didn't even exist until recently which means it has nothing to do with our prior differences of opinion. Collector preferences toward this coinage didn't change, the coins were issued with attributes collectors preferred which is why world mints strike them instead of an alternative made of base metal similar to circulating coinage. If your claim was correct, that's what mints would do.
The reason I claimed that the proportion of future collectors choosing the Kennedy and this coin will shrink is first, because the ethnic composition of the population is going to change over the longer term based upon forecast such as by the US Census Bureau, substantially. The preference for this series by currently defined ethnic minority groups is almost certainly an irrelevant fraction of the current collector base.
Second, because as future coinage is issued, collectors will have more choices in the same price range versus today.
I'm not knocking this coin. When I comment on any coin including those I collect, I try to do so impartially. No one on any coin forum is ever going to read any post of mine claiming what I collect is under rated or anything similar.
This coin and series has a respectable preference among collectors, but disproportionately only at nominal prices. That's the reality which you can accept, or not.
Looking at how collectors define their preferences, I haven't read any reason in this thread to believe the 70-D is underrated and I didn't see one in the thread years ago which had hundreds of posts. I don't think the other thread was specific to this coin but many of the posts covered it.
One of our first exchanges was exactly this IMS. I said that in my opinion Suid Afrika coins were undervalued and underappreciated. I especially like the one shilling coins.
Do you realize that BU Ike prices have increased from $40 to $60 per roll in the last couple years? Why would you assume there will be fewer collectors in the future?
so, your assumption is that the price rise is due to an increase in demand, more collectors. I would submit that there may be a different reason --- a stagnant demand but a lower supply, so bids have crept up. I'm retired now but don't recall seeing any increase in demand over the past 10+ years and the buy price for Ikes has been constant.
It may just be a promotion but prices have been creeping up for a couple years now.
Older collectables have a much more mature collector base. There is a steady inflow of of '16-D dimes and a steady demand to soak them up. If demand goes higher than the inflow then prices rise and if it decreases they fall. You don't see the demographic factors affecting this in the short term because this situation of supply/ demand setting price has been going on for a very long time on a coin like this.
Ikes (and '70-D half dollars) are a little different. For the main part these markets are in their infancy because there are so few collectors and significant percentages of the collectors are less sophisticated or casual buyers. Indeed, many go for far more than their wholesale value from non-traditional venues like TV, newspapers, and even Bob Vila was selling mint sets. In effect the forces that have been destroying mint sets are "consumer" driven. These coins will never come back on the market in some instances because they were improperly cared for. Even properly cared for coins suffer high attrition because of the way they are dispersed. They are kept in homes rather than safety deposit boxes and they are highly susceptible to the problems like theft and degradation. The owners are unlikely to try to sell most of them at the coin shop and the few who do often sell at far less than wholesale value because dealers don't want the coins because they have no market for them. Such coins are often inferior to start with. Dealers then might just toss it in with his circulated Ikes.
The point is there are very few "old time collections" of moderns. For the main part they just don't come into coin shops and the few that do tend to be "consumed" by the dealers as well.
So we've had 50+ years of mint set production being whittled down by "consumption" of collectors and the public as well as by dealers who often tell heirs to just "spend" their moderns. The availability of mint sets appears to have dropped below the ongoing consumption. Of course much of the problem is that such a high percentage of mint set Ikes are now corroded it's difficult to assemble BU rolls that the wholesalers demand. Where dealers used to have hundreds of sets now they might have only a dozen and half of them are corroded.
The '70-D is actually much worse for corrosion. The attrition on this date is a little lower than others but still only about 1/2 million survive and most of these are either corroded or not available for sale at current prices. Demand hasn't been satisfied by collections, old sets, or rolls coming on the market; it has been satisfied by the destruction of sets and the Ikes are getting tough enough to cause a price increase. I don't know of any forces that can stop this. There still aren't any old collections and the demand shows only signs of a slow steady increase for the last 40 years. Sure if the price goes significantly higher there will be supply coming out of the woodwork but I doubt there are that many nice pristine moderns in the woodwork. The number of these coins that have been destroyed by circulation and misadventure is simply staggering. There just weren't all that many to start with. Remember the '70-D has a much lower mintage than the '50-D nickel.
Of course these considerations apply to the less valuable and more common moderns chiefly. There are many hundreds of serious and/ or committed modern collectors now days and these collections with their rarities will be available in the long run. Many of these collectors are younger so the coins might not be available soon.
I have a 1970D half dollar in a Dansco Kennedy Album that I have. I looked through numerous OGP Mint 1970 sets to find one that is eye appealing, with minimal marks. I have no idea what it would receive as a grade if submitted to a TPG, but it does have eye appeal.
While looking through these mint sets most of the 1970D half dollars were of low quality and not very attractive.
I’d listen carefully to the guy with 26,412 posts - mostly addressing modern coins!
Wondercoin
The availability of mint sets appears to have dropped below the ongoing consumption. Of course much of the problem is that such a high percentage of mint set Ikes are now corroded it's difficult to assemble BU rolls that the wholesalers demand. Where dealers used to have hundreds of sets now they might have only a dozen and half of them are corroded.
here again the initial observation and deduction is deceiving.
there used to be a good market for Proof/Mint Sets but it was "artificial" because it was driven by the Tele-Marketers and there TV shows/adds. one of the principals was located in Kentucky or Tennessee and went belly up/died sometime around 2005. when that happened the chain broke and there was no place to move sets "up" from the smaller dealers to bigger dealers to seller. at that point, what looked like a vibrant retail game was only a dumping ground and it ended.
when that was happening you could sell to local dealers at around 5-10% back of bid, now that number is currently at about 30% back of bid and moving higher. at current GreySheet bid that equates to less than face value for many Mint Sets and a small profit on most everything else, typically 5%. collectors have slowed selling them at those prices, the sets dealers have to sell to a collector have shrunk. since the best sets get sold only crappy sets are left in inventory.
in short, these sets were losing value for a long time, have fallen out of favor with most in the Hobby and gotten to the point where what is left isn't of very good quality. remember, the quality wasn't really that good to begin with and with upwards of 40-50 years of bouncing around that hasn't improved.
fool yourself into believing what you want to believe, but the demand for these sets is probably at an all-time low, prices are at an all-time low and what is available to buy is at an all-time low. the 1965-current Mint Set market is pretty much dead and the Proof Set market is on life support.
I was in a coin shop a while back when a guy came in to sell some proof and mint sets. Apparently, the offer was too low because he left with the coins. I got to talking to the dealer about the sets and he told me he just can't pay much for them since there's no demand. He used to have a place to sell in bulk, but they're no longer buyers. The only people interested anymore are the guys who want to search through every set in inventory, cherrypicking high grades and varieties. And finally, when the rare buyer came along, he still couldn't sell the sets because by then, they looked like they'd been gnawed on by weevils.
Keets: Fair opinion. But, everyone’s mileage may vary.
For example, I can’t personally get my hands on enough fresh 1973 and 1975 proof sets to finish the thousands of 11 pc. PR69 ike sets I am producing. Forget 30% or 20% back or even 5% back. I’ll pay full bid for 500 more sets of each shipped out to me this week. Heck, toss in 1978 sets as well. Send me 500 of those as well over the next week at full bid. Sets with mildly spotted cents - ok to deduct 10%... I’ll take those too. Not junk please.
Likewise, I need selected fresh mint set dates at full bid. Up to 1,000 units on certain dates. Anyone with fresh quantity... please write to me.
Not intending to advertise here- just show that dealers can still use “TV” quantities of selected mint and proof sets depending upon the specific project this or that dealer is working on.
Wondercoin
A significant percentage of 1950-D nickels reached circulation and remained there for years. I found three in circulation in the early 1960's, including one in change from a soda machine, and I lived on the east coast. Circulated specimens are readily available today (unlike the 1960 Philadelphia small date cent, where virtually the entire mintage was captured before reaching circulation).
The unc. 50-D nickel sells for about $9, the 70-D half sells for about $16.
My Adolph A. Weinman signature
There are still offers to pay bid or bid +10% and even more. But it's much more difficult in the last few years to find a good offer on a selection of mint and proof sets. Most buyers are looking for quantity, quality, and specific dates. There are also buyers that go around to coin shops paying bid + for sets to be sold at estate auctions and other sorts of auctions. These are actually pretty popular and often bring lots of money. Most people aren't used to seeing moderns except the beat up ones in circulation and they buy them as a curiosity. But like so many mint and proof sets over the years this amounts to "consumption" and many of these coins will be lost forever to the hobby.
There are still massive wholesalers for this material and if one goes out of business the others will take up the slack. Some of these guys move so much merchandise that they have three or four truck bays for shipping.
Local shops have never paid much for mint and proof sets. There aren't many coins that the local shop is a viable place to sell. Some try to make a market in metals but you don't take a roll of '83-P quarters or a really nice AU '09-S indian to the corner shop.
This isn't really true. Mint set prices are low because so many are tarnished or otherwise inferior. Even 20 years ago it wasn't unusual to get a shipment of picked over mint sets when you advertised for them. Now they'll usually be heavily picked over AND large percentages of many dates are tarnished. Nobody can make a market under these conditions.
Demand for sets is weak but the demand for nice attractive moderns is not so weak. Certainly some denominations are but not Ikes and not '70-D Kennedys. There is a robust demand for nice gemmy and Gem moderns but this market goes begging because there is no supply. If you order a Gem you'll get a chBU so to get a Gem it costs $20 to grade it. People don't want to pay $20 a coin for mere MS-65. Right now the few sellers of raw true Gems don't have too much trouble getting a supply from mint sets. I don't believe this will last.
Anyone who tries to find a nice raw '70-D is in for an education. These sets aren't piled deep and everywhere any longer and quality never was very good. Most people are well advised to buy an MS-66 since these really are cream of the crop and they are being "given away". 49 years ago you could wear out a pair of shoes finding a nice '70-D and they are a great deal tougher today. A good pair of shoes might be more expensive than a Gem.
I got one myself in 1964 and got a king's ransom for it ($25).
I know there are lots of VF's and XF's out there so obviously many circulated but I used to look at all the folders of nickels that came into coin shops. The typical set had VF '40's ranging to AU '50's and '60's. Older sets were a grade higher and newer ones a grade lower. But virtually every single one of them had a BU '50-D. I recall seeing a couple AU's and one VF but that's about it. The AU's were I believe mishandled uncs.
The worn '50-D's are certainly out there but they're not in the sets that come into coin shops.
My explanation for what you describe is that this coinage representing traditional collecting in the US has been displaced mostly by (world) NCLT and secondly, by the ability to find virtually any coin on the internet. Same outcome for most of the most widely collected 20th century US classic series.
This is independent of whether there has been any decline in the size of the collector base of which I have no direct (only inferred) evidence. If the collector base isn't growing, even worse as new US Mint issues draw funding from this type of coin. Even if 10% to 20% switched to something else, since prices are set at the margin it can have a disproportionate impact on the price level.
There is no reason to expect or believe that with so many choices now, collectors will choose this coinage in the same proportion as they did in the past. Except with a low minority of the collector base representing top quality modern collectors and registry quality equivalent set builders, it isn't an accident this coinage has a very low generic preference.
I remember 1970 like it was yesterday. Have a half for nostalgia's sake, and I agree with Keets.... to a large degree, from a marketing perspective.
But alas, for nostslgia's sake I like to keep an ms 67 in plastic , just for fun.
``https://ebay.us/m/KxolR5
That's because most collectors of the time couldn't find one in circulation to complete their sets. So they purchased the 1950-D nickel instead. Since the price of circulated specimens was nearly as much as the price of the uncircs, they opted for the latter. There was also the "trophy coin" mindset - a BU specimen of the lowest mintage Jefferson added prestige to an otherwise circulated set.
I had to purchase a 1939-D nickel to complete my set, but for that coin the price of an uncirculated one was many times the price of a F-VF, so I settled for the lower grade.
My Adolph A. Weinman signature
Sam, I could refute or argue most of what you post on this topic but what's the use?? you obviously have your perspective and all I can share is what I saw firsthand for about 20 years everyday.