Puzzling Prices sometimes?

joeykoins

Hi guys,
Now, I'm about to refer to the PCGS Price Guide.
Before anyone jumps at the old explanation of,
"Price guides are just that, guides!"

Right, I get that but here's what seems puzzling sometimes?
Here's one example.
My 1956 Proof Franklin typ. 1. I cherry picked.
It came back a magnificent 67 after sending it to our Host.
The Price Guide shows a value of $275. Here's the questioning part. There are only 20, graded by PCGS
in that 67 category. This is amazing after all these years to have only 20, including mine, for this well known variety. I feel it should be valued higher! At least for the Guide reason? A 20 population makes me think it is almost too scarce to be that low?
Do you guys get what I'm thinking?
Thanks

TomB

A population of 20 for the 1956 Type I proof Franklin in 67? I must be looking at different data as PCGS CoinFacts has this coin in 67 with a population of 827 and the recent auction records are typically in the low or mid-$200s.

U1chicago

It looks like there are 20 of a variety of the type 1 (FS-901). Overall there are 827 PR 67 graded 1956 type 1 Franklins.
That is a large enough number. And looking at recent sales, the price guide value is fairly decent (if not high).

Kliao

Your looking at the population of attributed coins with the FS number. The number of T1 graded without the FS number in 67 is 285.
https://www.pcgs.com/coinfacts/coin/1956-50c-type-1/6686
https://www.pcgs.com/coinfacts/coin/1956-50c-type-1-fs-901/510119

Project Numismatics

Supply and demand. If supply is limited then demand must be limited if prices are low. That might change in the future.

What do the recent auction results show? eBay, GC, HA, etc.

U1chicago

@TomB said:
A population of 20 for the 1956 Type I proof Franklin in 67? I must be looking at different data as PCGS CoinFacts has this coin in 67 with a population of 827 and the recent auction records are typically in the low or mid-$200s.

There are 20 FS-901 type 1 1956 Franklins, which are a subset of the 827 total.

joeykoins

Ohhh?
Oh my, I see now.
Thanks guys.
Brain freeze!

ShaunBC5

Lots of us have Type 1s that aren’t graded (and there are probably a ton of graded ones with no type designation that are actually T1).
As for the pricing, I just always find it odd when an attributed coin (FS-901) is worth less than an unattributed one…but that’s probably a topic for somebody else’s thread.

joeykoins

Ok, so in saying the 20 population is only the ones with the actual FS- Designation
on the holder. Well, my Coin does have that!
So, shouldn't the listed ones be more rare? More value?
I do realize it's just a technicality but...

WAYNEAS

@joeykoins said:

Pricing aside, that is a beautiful looking coin.
Wayne

BStrauss3

Oh, no, here we go again... paying more for a label.

Jzyskowski1

Joey. It’s a very nice coin.
On some days my dang coins should be worth more than anybody sez, but alas, I fear I’m wrong 😁🙀🦫

lilolme

Glancing at the information the pricing appears okay. Of course there are nearly always the 'yeah but'.
I also wonder about a variety that is less than the base/basic but I do see it from time to time.
In this case I notice that the base type 1 price went up in March of this year from $275 to $285 but the FS901 remained $275 so perhaps over-looked.

pcgs price guide MS67 type 1 at $285
pcgs price guide MS67 FS901 at $275

A variety FS901 MS67 sold at HA in Dec 2021 for $228.
Didn't see any for sale on a quick search so that is the only data point I quickly found.

The non-variety Type 1 have a lot more data points with auctions sales and a couple for sale.
Auction $216 $192 $320 $240 $234 all pcgs 67 and within the last year
For sale at CC $284 and $300

291fifth

Supply and demand. It is just another minor variety that many collectors do not care about.

LanceNewmanOCC

@joeykoins said:
Ok, so in saying the 20 population is only the ones with the actual FS- Designation
on the holder. Well, my Coin does have that!
So, shouldn't the listed ones be more rare? More value?

i have seen from time-to-time that FS attributed labels do bring more, probably more so in situations were pcgs/ngc has a generic attribution already in place where a coin can be attributed just during regular grading.

sometimes it is important to have that distinction since pcgs/ngc can end up lumping several varieties under one generic banner and one or two of the generics will be much more scarce/valuable.

i'm sure there are other instances, perhaps within the registry where the FS or specific die marriages is required for points/completion.

jesbroken

The only way to truly know what your coin is worth at any given moment is to offer it for sale at a BIN with offers. Then you might get an idea of the coin's true worth at any given time.
Jim

FlyingAl

In all grades, at PCGS alone there are 2,246 coins of this type. There will be a much higher demand for those coins with contrast, and those coins are where the value truly lies.

ChrisH821

@jesbroken said:
The only way to truly know what your coin is worth at any given moment is to offer it for sale at a BIN with offers. Then you might get an idea of the coin's true worth at any given time.
Jim

I think the only way to know what it's worth is to offer if for auction with a $1 start. With a BIN you never know if you could have gotten more for it.

jesbroken

According to how high the BIN is.
Jim

keyman64

As others have said, supply and demand. To expand further...
How many people are doing the complete variety set in which this coin is a part. How many of those people still do not have one? How many of those people are doing high grade and are willing to buy this coin at auction instead of cherrypick it themselves. For the people doing high grade sets, how many are graded higher than your example?...for the people doing high grade, this may not be high grade enough.

So, go look at the number of active variety set builders and run through some of the above questions. It comes down to supply and demand but 20 in PR67 is a LOT. If this were a Mercury Dime variety with a population of 20 in a grade, the coin might as well sell for what the non-variety is...based on demand.

SIowhand

If 20 of something exists, but only 10 people want one, they’ll be cheap.

Edited to say, I should have read all the responses before repeating. Slow pony.

lilolme

@SIowhand said:
If 20 of something exists, but only 10 people want one, they’ll be cheap.

Edited to say, I should have read all the responses before repeating. Slow pony.

That's okay I will join in.

Sometimes a cherry picked variety is just a variety.

golden

Very nice coin.

Onastone

I have to agree....a very sharp looking coin!!!

1Bufffan

Great looking coin, but like my Father-In-Law used to ask me "How much is that coin worth" I would tell him a price then he would say: "It's Not worth anything, if No one is willing to buy it for what you are asking"! I have always kept that thought..

joeykoins

Thanks guys!

Cougar1978

For me cost plus trumps PG if that not enough.

ricko

@JoeyCoins ... That is a very nice Franklin half dollar.... I am not variety collector, so that would not be a plus for me.... However, many others do like them. If seeking one, I would buy that one on appearance alone. Cheers, RickO