A Tale of Two Mercs
Cocoinut
Posts: 2,512 ✭✭✭✭✭
I can thank Beth (aka "a2labmom") for reminding me that I had these coins.
Some background: I worked in a busy coin shop from 1979-1983, a period that included the gold and silver boom and bust. We routinely took in many circulated sets of silver coins that were purchased as bullion, and popped them out of the albums or folders they were in, and eventually they went into bags to be sold for silver content. One day I came across a set of Mercury dimes that a co-worker had taken out of the album. I noticed a couple of coins that were obviously in much better condition than the others. Upon examination, they were a 1923-S and a 1925-S, both of which appeared to be AU. I plucked them off the desktop and told the owner of the shop that I'd like to have them for my own collection. The owner, never failing to take advantage of an opportunity for a profit, told me I could have them for $20 apiece. Geez, I had found them, and saved them from a likely fate of being melted, and still had to pay about 10 times their melt value! Idid buy them, and put them in my old Whitman album, replacing the G-VG pieces that I had previously had. This probably happened in 1980, and I don't think I've added any coins to that circulated set since then.
Reading a2labmom's thread about sending in some AU Mercs for grading reminded me that I had bought those coins 22 years ago. The set had been relegated to little more than junk status, even though it's only missing the '16-D and the overdates. When I looked at the coins today, my original opinion of the '23-S was reaffirmed, but the '25-S is a great coin, and looking at it with a 10x loupe, I can't see any rub on it at all. It's got some colorful toning on the obverse, while the reverse has a golden color, somewhat subdued luster, and full bands. It could be a super-slider, or a 64FB coin. Either way, it's worth having slabbed (but a 64FB would be a sweet "reward" after hanging onto it for all these years).
I'm adding pics of both coins. The camera seems to accentuate the darker areas of the '23-S more than they are in real life, and the reverse of the '25-S is a bit nicer than it appears in the photo. The color on the obverse of the '25-S is true to life.
Do any other old-timers have coins they've forgotten about, or haven't looked at in years? They may be worth another look.
Jim
Some background: I worked in a busy coin shop from 1979-1983, a period that included the gold and silver boom and bust. We routinely took in many circulated sets of silver coins that were purchased as bullion, and popped them out of the albums or folders they were in, and eventually they went into bags to be sold for silver content. One day I came across a set of Mercury dimes that a co-worker had taken out of the album. I noticed a couple of coins that were obviously in much better condition than the others. Upon examination, they were a 1923-S and a 1925-S, both of which appeared to be AU. I plucked them off the desktop and told the owner of the shop that I'd like to have them for my own collection. The owner, never failing to take advantage of an opportunity for a profit, told me I could have them for $20 apiece. Geez, I had found them, and saved them from a likely fate of being melted, and still had to pay about 10 times their melt value! Idid buy them, and put them in my old Whitman album, replacing the G-VG pieces that I had previously had. This probably happened in 1980, and I don't think I've added any coins to that circulated set since then.
Reading a2labmom's thread about sending in some AU Mercs for grading reminded me that I had bought those coins 22 years ago. The set had been relegated to little more than junk status, even though it's only missing the '16-D and the overdates. When I looked at the coins today, my original opinion of the '23-S was reaffirmed, but the '25-S is a great coin, and looking at it with a 10x loupe, I can't see any rub on it at all. It's got some colorful toning on the obverse, while the reverse has a golden color, somewhat subdued luster, and full bands. It could be a super-slider, or a 64FB coin. Either way, it's worth having slabbed (but a 64FB would be a sweet "reward" after hanging onto it for all these years).
I'm adding pics of both coins. The camera seems to accentuate the darker areas of the '23-S more than they are in real life, and the reverse of the '25-S is a bit nicer than it appears in the photo. The color on the obverse of the '25-S is true to life.
Do any other old-timers have coins they've forgotten about, or haven't looked at in years? They may be worth another look.
Jim
Countdown to completion of my Mercury Set: 1 coin. My growing Lincoln Set: Finally completed!
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Comments
I need both of those,so as soon as you get them slabbed send them on over
or better yet just put my address for return on the pcgs form
But Really what a great find,I am jealous
TIm
I am in Awe !! How could You forget about that 25S ??
Much, Much Luck with the Submission. I have the Fingers and Toes Crossed for You.
Ken
Edit to Add This.
Did Anyone Else get Offered a PCGS MS68 1944D Mercury Today ? I got a Email from a Gentleman Offering to sell one to Me. I respectfully Declined as 5 other Dates are of More Urgency Right Now. If anyone wants this I still have His Email Address.
Jim,
First of all, good luck in your submission and yes I have a simuliar story.
Back in 79 or 80 I was collecting my Mercs in AU and BU. One day there was a 1924-S described in a New York auction as ChAu58 with beautiful toning, so I bid and got it for $50. When I received the coin in the mail (from NY) I took it to my local coin dealer and showed it to him. He said it looked like it might be Unc. to him. I felt good getting a bargin and put it in my lock box. Last year I started collecting my Mercs. in higher grades and slabbed for the Registry. So, I sent several Mercs. in including the 24-S to be graded.
Well the 24-S came back 65FB! At that time 65 was the highest 24-S. Now there are some 66's. I thought the 24-S was very nice, but was still very very pleased for the grade.
I sold the 65FB and replaced it with a 64FB and used the rest to by other Mercs. I needed.
I wish I could do that agian.
Jon
That's a great story about your '24-S. I'm sure you were able to buy some nice Merc's with the difference between a 65FB and 64FB. I'd probably do the same thing. I doubt that I'll be so lucky, but you never know.
Ken,
When you've been accumulating coins since you were 6 years old, it's easy to forget about some of the less glamorous ones. The '25-S just happened to be a better coin than I remembered, and it was just 6 months ago that I began my Merc set in earnest, so I hadn't given it any thought. I also found a circulated Lincoln set that I was constantly upgrading while I worked at the coin shop. Many of the pre-1934 dates are XF-AU, and have traces of red. No '09-s VDB or '14-D though, and only a few that might be worth slabbing, but definitely not your run-of-the-mill circ set. Wish I could have bought more of the uncs that I handled, but I'd just bought a house, and money was tight.
I've got other coins that I should have slabbed, so I'll figure out which ones I want to do, and send the '25-S in the first batch. Even if it comes back as an AU, I'll put it in my registry set until I find one that's MS64.
Jim
I wish all the best of luck in upgrading any sets they have.
Pat Vetter
My Dimes
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