Just how hot is the Early Dollar market?
northcoin
Posts: 4,987 ✭✭✭✭✭
There seems to be agreement that certain areas are hot (beautifully toned Commems, high end registry set pieces, etc..) Included in the discussions last summer was also mentioned Early Dollars. Are early dollars still hot or was it just a flash in the pan? For those of you who are into early dollars do you see this as a good time to be buying? What would you pay for a flowing hair 1795 graded by ICG as XF-45? Would it make much difference if it was a two leaf or a three leaf variety? Or another way to ask the question, if the greysheet for an XF40 is $5,500, how much, if any, over that in your opinion would be a sustainable price for an XF-45 graded by ICG?
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Type collector since 1981
Current focus 1855 date type set
Having said that I can understand the growing appeal of these early pieces of U.S. numismatic history. I think this trend (high prices) will continue (may not as dramatically) given the relatively fixed supply and what I believe will be an increase in demand as some of the State Quarter collectors migrate to classic coins.
Lot: 13755 Early Dollars
1795 S$1 Draped Bust XF45 ICG
Sold For: $4,715.00 (with BP)
Ended: October 8, 2002
10:00 PMCT
Lot: 7734 Early Dollars
1795 S$1 Flowing Hair, Two Leaves XF45 ICG. B-1,
Sold For: $5,405.00 (with BP)
Ended: September 27, 2002
12:00 AMCT
Lot: 8338 Early Dollars
1795 S$1 Flowing Hair, Three Leaves XF45 NGC.
Sold For: $5,865.00 (with BP)
Ended: July 28, 2002
12:00 AMCT
BP=15%
I believe Early Dollars are still fairly hot! The premium, original pieces you can forget buying at greysheet. Most of the others are not as hot and can be had for around greysheet and sometimes less.
The ICG 45 you are inquiring about can be a 4500 coin up to 7000 coin depending on quality.
Best of luck, Dollarmike
I think an important thing to remember with these, or other early coins, is that there can be very different "quality" and eye-appeal between coins of the supposedly-same "technical" grade. That makes it very difficult to make value judgments or comparisons difficult without actually seeing the coins. Consequently, these coins really only trade on a sight-seen basis. Your best bet is to make comparisons with other known sales -- the Heritage website maintains a permanent archive of auction sales, with photos. So, it would be a good idea to not just compare the grades on the holders, but also compare the appearance of the coins.
From what I've seen, those specimens of ho-hum quality or eye appeal have not gone up in value nearly as much as those with high-end quality, and I would expect that trend to continue. I know I am still buying for my set, and I'm prepared to pay the premium if the coin warrants it. It seems that the Flowing Hair dollars are experiencing some renewed growth right now, and 1794 dollars really seem to be on fire. I can remember up to five years ago, F-XF 1794 dollars sold for $1,000 per grading point -- $20,000 for a VF-20 specimen. Right now, there's a PCGS-VF20 listed on the National Coin website for $95,000. That's a 375% increase!
I'd recommend considering your purchase carefully, and making as many comparisons as you can.
Best of luck.
The most numerous variety in that collection was the 1795 FH (3lvs) Bol.5 (BB-27). It is exceedingly common, and so would not command a premium due to scarcity.
The long and short of his analysis is that, like many other series nowadays, the nice, eye appealing and PQ specimens are hot. The ones with problems or are LQ, however, trade at a discount.
Like Dollarmike and Cardinal said, there is a huge price variance due to the coin itself. The holder does NOT matter.
Dollarmike: please tell me why I did NOT bid on the Hering BB-256 specimen? As I recall, it was a nice VF35 specimen. WHY?!? WHHHHYYYYY!!!!?????!!!!!
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
an example of a super hot coin any 1794 dollar and a really nice full strike original or lightly cleaned 1795 dollar in au 50 53 55 58
okie to good are lower grade dollars with reasonable surfaces
hot hot hot fully original better variety rarity 5 and higher dollars
They are hot because they are fully original, not because they are R5+. The latest sales of named ED collections (Cardinal, Hering, San Marino, Albany) have shown that quality is hot. The rare varieties that are only of marginal quality did not perform well.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
let me make this statement: you cannot pay too much $ for a bust dollar.
as crazy as that sounds, in the past 20 years, it has proven time & again to be true for me. coins that i thought were a ripoff in 1980, i have sold for 4, 5, 6 times or more what i paid for them. in fact, most of the money i have turned in recent years has been from the sale of my dollars.
i have also sold a whopping number of bust half-halves. again, i used to pick these up for dirt prices 20 years ago. today, you can forget it. if you've got anything over R5, you are gonna make money, plain & simple.
the key factor? original coins. that's ultimately where you can't lose money, because the number of true originals will never increase, while the number of collectors will.
K S