Sacagawea dollar registry set question
Q12
Posts: 9
Hi im new to the boards having only asked 2 questions. i read these boards everynite,trying to learn all i can about coins.I like the sacagawea dollars and noticed they have a hefty price on some of them.My question is are they worth the money?I know very little about coin value's and such only what pcgs puts in the price guide.There is no coin shop's, dealers or nothing where i live so the board's and internet is my only option to learn anything,Thanks
Tim
Tim
0
Comments
We'll use our hands and hearts and if we must we'll use our heads.
You will get a lot of different answers to this question. The modern collectors believe in these coins and in general will support current pricing. The "Classic" collectors will tend to tell you that the coins should only be collected as BU examples and paying more then a couple of bucks for them is foolish.
My response is a bit complex. First for the Sac's you must consider the Goodacre and Milleniun coins seperately as these coins were made in limited numbers and can not be found in circulation. First the Goodacre coin has a total production of 5,000, these coin command a premium based on their actual rarity. The Millenium coins have a total production of 75,000 and again command a premium. As for the regular circulation strikes their valuation in ultra high grade MS68 and MS69 is a matter of great debate. Personally I believe these ulra high grade coins are rare and quite beautifull compared to average BU examples. I believe they should command a premium. The amount of that premium will always be a supply and demand issue. Non coin collectors would believe paying $1,000 for a MS68 Morgan would be crazy but most "Classic" collectors would jump at the chance. Meanwhile these same classic collectors will tell you that paying $1,000 for a MS68 Sac is crazy. While it is true that the modern coins undergo much greater price flucuations I don't think that is a reason not to be involved with them. First it should be the enjoyment of collecting that drives you into this pursuit. While we all like the idea of our collections increasing in value and do not like to over pay for our coins. The fact is the majority of collectors do not become rich by collecting.
I will give one example. I purchased a 1979 P MS68 SBA$ about 6 years ago for $800. At the time it was the most anyone had paid for a SBA$. I am sure the classic collectors thought I was being taken. Maybe they still think I was. However, I have turned down offers of $10,000 for that coins in years since. This is not to say the coin may one day not be in demand at all, but on the other hand it may just as easily continue to command this and even higher valuation as the single Population #1 coin in the SBA$ set. I doudt any classic collector can tell a similar story.
When collecting Ulra high grade moderns one should understand the risks and potential benifits of doing so.Classic rarities are a known commodity. They change hands and valuation slowly. Ultra high grade moderns are new, speculative and risky. But all the more interesting for it.
Is it worth it to you?
It is your collection, you and only you can make that determination. If owning one in that grade at that price makes you happy who's anyone to tell you not to buy it. Obviously they are worth it to other collectors because they are buying them. Will they still sell for that kind of money in 10 years? Who knows?
I pay premimum for coins on occassion because they are what I want and like. I could care less if some other collectors think I am crazy. It is my collection and no one elses. At this point in my life I have no intentions of ever selling anyway. When I am dead and gone my heirs will know if I made a mistake or not. But I will be dead so oh well.
Hope this helps in some little way.
The only thing necessary for evil to triumph is for good men to do nothing.
Tim
This will (soon) be a closed series and not impossible to complete in these super high grades.
I see a wonderful future for this series.
In high grades they are beautiful coins.
peacockcoins
I see this series paralleling the SBA $ . The Suzies were made for 1979 and 1980 for general circulation . The Sac. was made for 2000 and 2001 for general circulation ( although I haven't seen any 2001's in circulation yet , as the Fed is backed up with 2000's ) . In 1981 , the third year of the Suzie , it was available only in mint sets and special souvenir sets. In 2002 , the third year of the Sac's , it is available only in mint sets PLUS is available to " collectors " in rolls or $ 2000 bags from the mint's website. The rolls and bags available so far are of very inferior quality. The mint sets are much better. I'm betting the 2002 mint sets will go the way of the 1981 mint sets , and be worth more than their 1979 , 1980 , 1982 counterparts. If the Sac was offered in 2003 , I'd be surprised. The Suzie was dormant from 1981 - 1999 , when supplies were exhausted , and they couldn't produce the Sac. , so had to re-introduce the Suzie. I can see the same thing happening with the Sac. , unless a bill is introduced to create a new $ , which would tend to make the Sacs worth more , but only in the higher grades , because so many of them are junk.
You got a response from your thread from DRG ; take the time to check out his SBA MS set ; It's PERFECT !! There are no higher coins available !! He knows what he's talking about , and made or got these coins years ago , when others were saying they'd never be worth anything. That set is priceless now , even if they are " modern " coins.
You've picked the Sac's as the series you want to do ; I'd say go for it. Look at mint sets from 2000 & 2001 , and buy as many 2002 mint sets as you can , check them out and submit the ones you think will go 67 or higher. I don't think you'll go wrong. That's what I'm doing , anyway. I still need the Goodacre in MS68 and will end up paying big bucks for it , which will really hurt , but there's no way of making it. I realize there are 69's out there , but not for my budget !! Good Luck !!
Howie
Tim