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How much does provenance add to a coin's value?

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  • JCH22JCH22 Posts: 160 ✭✭✭

    @PerryHall said:

    There were no US half dollars when he was a Commanding General.

    During the Revolutionary period, correct of course. More in the way of trivia---Washington was appointed "Lieutenant General and Commander in Chief of all the armies raised, or to be raised for the Service of the U. S" by Adams/Senate on July 7, 1798 (Quasi War). He never took the field though.

    Ike was said to carry a pouch of "lucky coins" during WWII. Think I would pay extra for one of those!

  • PerryHallPerryHall Posts: 46,085 ✭✭✭✭✭

    I remember reading that when the Eliasberg coins were sold at auction, one lot had two rolls of 1883 No Cents nickels. Some dealer bought them and had each coin slabbed with the Eliasberg pedigree noted on the labels. He sold them off over a period of time and made a tidy little profit since the Eliasberg pedigree gave collectors a chance to buy a coin from his very famous and complete collection of US coins.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • pursuitoflibertypursuitofliberty Posts: 6,883 ✭✭✭✭✭

    @PerryHall said:
    I remember reading that when the Eliasberg coins were sold at auction, one lot had two rolls of 1883 No Cents nickels. Some dealer bought them and had each coin slabbed with the Eliasberg pedigree noted on the labels. He sold them off over a period of time and made a tidy little profit since the Eliasberg pedigree gave collectors a chance to buy a coin from his very famous and complete collection of US coins.

    .

    I remember this well, and thought about it as I posting this morning. IIRC they sold for about 2x to 3.5x the going rate for whatever grade they were at the time.


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • ChopmarkedTradesChopmarkedTrades Posts: 518 ✭✭✭✭✭
    edited October 6, 2024 12:52PM

    To me, yes, a pedigree definitely adds value - but it's entirely dependent on the name, and it's never a flat percentage. However, that's partly because there are relatively few recognized names in the space that I'm interested in (chopmarked coins) and because the addition of a name helps to place a rare piece at a certain point in time when prices were much lower; when you're dealing with something like chopmarks that are more difficult to validate compared to a host coin or counterstamp, and which have only seen a spike in interest relatively recently, a good provenance adds a tangible value to a piece that could otherwise be suspect.

    Then again, some chopmarked pieces are made more valuable by a provenance just because there aren't that many out there - relatively few major collectors, not that many auctions in the past that would promote chops in sales with detailed descriptions or plates.

  • CryptoCrypto Posts: 3,673 ✭✭✭✭✭
    edited October 6, 2024 12:34PM

    @ChopmarkedTrades said:
    To me, yes, a pedigree definitely adds value - but it's entirely dependent on the name, and it's never a flat percentage. However, that's partly because there are relatively few recognized names in the space (chopmarked coins) and because the addition of a name helps to place a rare piece at a certain point in time when prices were much lower; when you're dealing with something like chopmarks that are more difficult to validate and which have only seen a spike in interest relatively recently, that adds a tangible value to a piece that could otherwise be suspect.

    Then again, some chopmarked pieces are made more valuable by a provenance just because there aren't that many out there - relatively few major collectors, not that many auctions in the past that would promote chops in sales with detailed descriptions or plates.

    Also foreign coins a good Pedigree provides provenance on how it came over sometimes and adds important context.

    This is pedigreed to the Sang Lin Collection which was an immigrant from Hong Kong who brought a treasure trove of Asian rarities with him. Helps coins like these where are Frequently faked or messed with

  • TheGoonies1985TheGoonies1985 Posts: 5,435 ✭✭✭✭✭

    For chopmarked coins I do understand since those could be faked much easier.

  • CryptoCrypto Posts: 3,673 ✭✭✭✭✭

    https://stage.stacksbowers.com/did-you-08022017/

    Here is the story, knowing his central role in the niche. I think it adds a lot. That said how others have said, it varies based on the needs of the coin, sale and collector

  • pmh1nicpmh1nic Posts: 3,271 ✭✭✭✭✭

    As others have mentioned, the name or event associated with the coin can be a huge determining factor in price. None of my friends know the names Eliasberg or Bass. Everyone knows Washington and Lincoln. A coin specifically associated with one of those former Presidents expands the number of "collectors" dramatically.

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • WalkerfanWalkerfan Posts: 9,287 ✭✭✭✭✭

    I’d pay a slight premium for a cool provenance, but not much more.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • alefzeroalefzero Posts: 967 ✭✭✭✭✭

    Chain provenance landmark condition census rarities command significant premiums. Such coins are foundational to the hobby and were selected and traded among the top classic numismatists of the days before the hobby transitioned from a rich man's playground to a popular one for just about anyone. A coin ultimately stands on its own merits, but Col. Green, Eliasverg, Bass, ... selected such meritorious coins. Post-1960 provenances, with no links to much earlier collections, are mostly just coins, some worth more attention through their own qualities ultimately.

  • jacrispiesjacrispies Posts: 895 ✭✭✭✭✭

    "But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
    BHNC #AN-10
    JRCS #1606

  • PerryHallPerryHall Posts: 46,085 ✭✭✭✭✭

    The Dexter specimen of the 1804 silver dollar also has a very small D punched into one of the clouds on the reverse.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • jacrispiesjacrispies Posts: 895 ✭✭✭✭✭

    @SmEagle1795 That is incredible, thanks for sharing!

    "But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
    BHNC #AN-10
    JRCS #1606

  • James at EarlyUS.com

    On the web: http://www.earlyus.com
  • CryptoCrypto Posts: 3,673 ✭✭✭✭✭

    If your think about it pedigree and provenance is really just about knowing the story about the history and the more pieces one has of said history it adds to the puzzle of any artifact. It is a major piece of the reason that old holders are sought after.

  • RobertScotLoverRobertScotLover Posts: 911 ✭✭✭✭✭

    I must say that the dealer wrote his disapproval eloquently and respectfully. A very interesting read indeed

  • redraiderredraider Posts: 188 ✭✭✭✭
    edited October 8, 2024 6:16PM

    I was able to buy the Eliasberg J-300 1c pattern a few years ago. It is graded MS64 in an OGH and I thought it was very choice for the grade. I paid a little premium, but it was CACed and subsequently PhotoSealed.

    I think the Eliasberg collection has one of the coolest stories for a famous collection.

  • 1northcoin1northcoin Posts: 4,266 ✭✭✭✭✭

    @OldeTowneCoinShoppe said:
    Here is an example of a coin that, for some reason, was tried for upgrade but lost it's original provenance:

    https://www.scoins.com/lot.aspx?a=35&l=785

    Much appreciated, the point is well made.

  • Pedigrees that I like in general order of highest importance to me:

    Newman
    Garrett
    Norweb
    Pittman
    Eliasberg
    Ford

    James at EarlyUS.com

    On the web: http://www.earlyus.com
  • CatbertCatbert Posts: 7,091 ✭✭✭✭✭

    Very interesting read! I wonder about Part II of that story. Anyone have a link?

    Seated Half Society member #38
    "Got a flaming heart, can't get my fill"
  • psuman08psuman08 Posts: 311 ✭✭✭

    Thanks for all the great responses. I ended up winning the coin so I figured I would share it. It is a raw 1876/6876 Octagonal 50 Cents. BG-935, image from, https://auctions.stacksbowers.com/lots/view/3-2V6EE/18766876-octagonal-50-cents-bg-935-rarity-5-indian-head-au-55-pl-uncertified

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