CDN Listing Modern Singles.
cladking
Posts: 28,701 ✭✭✭✭✭
I don't know how long they've been doing this but it's a welcome sight. The prices are reasonable for the main part but there are some serious problems. For instance 1982-P half dollars list $130 / roll ($6.50 / coin) but an MS-63 lists at only a dollar. Buyers are picky with BU rolls but if they aren't spotted or tarnished they are very happy with MS-63 quality. Indeed, they'll buy even MS-60's if it's otherwise an attractive roll with MS-63's and maybe an MS-64 or two. This does vary by date and what will be accepted in a 1982-P roll might not be accepted in a 1972-D roll because the '72-D comes much nicer.
It is important to know the nuances of these coins but one batch of '72-d will be pretty similar to another in most cases, just like most other dates. Of course the mint has made some real garbage since 1965 and you might see some of this even in large batches. No buyer wants rolls of '72-D half dollars that are poorly struck from worn dies and heavily scratched and such coins are hardly rare. In fact, for '82-P they are typical and should be avoided by buyers and collectors. If buyers avoid all ugly coins their collections will be primarily MS-62 to MS-65 and predominantly MS-63 and MS-64. Bear in mind though most MS-62's are ugly as are many MS-63's. Even some very clean coins are poorly struck by worn dies.
With this "new" framework for collecting circulating moderns I would expect dealers to begin carding them up and displaying them for customers. This should be prelude to the establishment of a BU roll market even for lower denominations. This market doesn't exist at this time because there is very weak demand.
The primary causes of weak demand are two fold; chiefly that there has been no pricing mechanism but also because there has been no supply. It is ingrained in collectors' minds that moderns are cheap junk that exist in enormous quantity so most feel they are uncollectable. With so many modern prices soaring these beliefs will fade away.
Comments
Thank you for this feedback. We've been pricing moderns for 4-5 years now. Mostly online because there's not enough room to print all prices. If you have some specific feedback for us, please send me an email (john@greysheet.com) so we can work on accuracy on singles and rolls.
John
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
Thank you. I was hoping you'd respond.
I just might send along some feedback.
The CDN has a long history of supporting the collecting of all US coins including moderns which goes all the way back to George W. Haylings. Indeed, at least part of my early interest in circulating coinage was the result of his influence. I'd have never even thought of saving current coins without his influence. If the coin market hadn't collapsed in '64/'65 it would be a very different collecting world today.
CDN has been at the forefront of the coin market for many decades.
I've compiled a short list for JohnF. It is much shorter than I had believed as a close inspection of prices does reasonably well reflect the prices I receive. However, the actual prices for many MS-63's do tend to be a little low for both Ikes and half dollars. Most probably do a reasonable job of reflection reality because "chBU rolls" invariably have a smattering of nice MS-64's and usually a few MS-65's. I'm not sure I'd change them.
The biggest problem with the lists is just the '82 and '83 issues in lower mint state grade. These should reflect the BU roll price because buyers do accept typical rolls and even put together rolls if the coins are nice (MS-61). Nobody wants pickouts especially of moderns.
There are some original BU rolls of halfs and dollars and these complicate any kind of pricing mechanism. I recently had half a bag of really nice original '96-D half rolls to ship. The end coins were so nice I figured I better check one of the rolls for Gems. Much to my surprise the inner coins were lightly spotted and hazy like the end coins and they were all far below mint set quality. I ended up taking these $24+ per roll coins to the bank because buyers don't want rolls and rolls of dull coins even if they are otherwise MS-63.
This has got to be a headache for catalogers. Nice original quality coins are in demand but lower quality is hard to sell unless it's '82/ '83. Even then buyers want original luster and not entire rolls of MS-60's or pickouts.
I have been finding increased interest in unslabbed coins in MS-64, 65, and up to 67+ across all denominations. It would certainly be beneficial to me to see listings of such coins. I've been selling a lot of this a 10 to $40 based on how difficult they are to find but suspect I'm leaving a lot of money on the table and have some concern that the buyers do OK. Of course to hit the CDN there has to be an actual market and such a market barely exists.
There are retailers for higher grades unslabbed but I suspect that you'll have to pay substantial premiums to get something "important". I suspect any $5 Gem would be easy enough to find in a few mint sets.
January was my 50th anniversary of waiting for this market. I guess I'll wait longer. I'm still working on selling and stabilizing coins so at least I have something to do.
‘’I have been finding increased interest in unslabbed coins in MS-64, 65, and up to 67+ across all denominations. It would certainly be beneficial to me to see listings of such coins.’’
I recently saw increased interest in a particular unslabbed modern coin in minimum MS68 to MS68+ Quality from none other than CladKing, who plucked it out of my “to PCGS to submit” pile! I miss it already! 😆
Wondercoin
Hey, it was the best '87-P cent I've ever seen and it has very limited value even in MS-68. I figured it's worth more to me than it would be to anyone who bought it slabbed. Who knows, maybe my heirs can get its true value rather than the current highly limited market value.
I've seen other dates of cents from this era that are nicer including PL perfect '88-D's but the '87 is a tougher coin in very high grade.
If I somehow came out ahead on the deal I'm sure there will be trades in the future to reestablish a balance.
It sure has been a pleasure doing business and selling some coins with Wondercoin! Now when the market improves I know who to call.
I'd have asked for the '86-P nickel or the '68-D quarter but I was sure you'd say "no". The nickel is far better than any other I've seen. I miss them all already.
CK: Of course, the 1987-P cent was knocking on the door of MS69RD and even though I thought it might only max out at 68+, it would not shock me if the coin graded 69RD finest known at the right grading event. The door is never closed on coins like the 86-P 5C or the 68-D quarter. Dangle a cool Kennedy 50C in front of me these days and watch me dance! 😝
Wondercoin