Just another overpriced modern!
cladking
Posts: 28,649 ✭✭✭✭✭
I like varieties of all coins, tokens and medals. They are frequently an excellent source
of underpriced rarities. Sure a rare variety of an old subway token is unlikely to ever
become valuable, but it's already valuable to me because of it's rarity.
This being said, why is th 70-S small date cent worth $15. even in low grade unc? Among
those few of us who atually look at modern coins, this coin is considered common. More
than 10% of the coins in mint sets are SD's. This means the mintage was at least a couple
hundred thousand in mint sets. Most people don't even collect varieties so why should
this coin demand so large a premium. There aren't even 200,000 memorial cent collectors.
Take a coin like the '69 quarter. About half the mintage has been destoyed. Most of the
other half has been in circulation for a third of a century. These coins are virtually all in VG
or G condition. AU's have been statistically gone from circulation for nearly twenty years.
Despite common perceptions, there were virtually no rolls saved of this coin. In thirty years
of looking I've never seen a single roll! They are advertised occasionally, but they can hardly
be common, and in all probability most advertised rolls are assembled from mint sets. The
interesting thing is that only 10% of the mint set coins are attractive. The other 90% tend to
be covered with small scratches and are frequently poorly struck. This 90% would charitably
be graded as MS-60. Most of the '69 sets have been destroyed or set aside in the few col-
lections which exist, so despite the extreme paucity of this coin available it sells for only $2
wholesale.
If the modern market is this thin then why does the common small date bring so much?
of underpriced rarities. Sure a rare variety of an old subway token is unlikely to ever
become valuable, but it's already valuable to me because of it's rarity.
This being said, why is th 70-S small date cent worth $15. even in low grade unc? Among
those few of us who atually look at modern coins, this coin is considered common. More
than 10% of the coins in mint sets are SD's. This means the mintage was at least a couple
hundred thousand in mint sets. Most people don't even collect varieties so why should
this coin demand so large a premium. There aren't even 200,000 memorial cent collectors.
Take a coin like the '69 quarter. About half the mintage has been destoyed. Most of the
other half has been in circulation for a third of a century. These coins are virtually all in VG
or G condition. AU's have been statistically gone from circulation for nearly twenty years.
Despite common perceptions, there were virtually no rolls saved of this coin. In thirty years
of looking I've never seen a single roll! They are advertised occasionally, but they can hardly
be common, and in all probability most advertised rolls are assembled from mint sets. The
interesting thing is that only 10% of the mint set coins are attractive. The other 90% tend to
be covered with small scratches and are frequently poorly struck. This 90% would charitably
be graded as MS-60. Most of the '69 sets have been destroyed or set aside in the few col-
lections which exist, so despite the extreme paucity of this coin available it sells for only $2
wholesale.
If the modern market is this thin then why does the common small date bring so much?
Tempus fugit.
0
Comments
Between Lincoln collectors (next to Morgans, the most popular set to collect) and variety collectors, the price on these remain pretty stable.
I'd classify your 1969 Quarter as a "sleeper" (again, as far as Moderns go) because few posess the knowledge you do regarding their scarcity in higher grades.
peacockcoins
As for the clad quarter, I am sure that few possess the knowledge of how scarce it is, even fewer care now or ever will. Some things just are not to appealing, and clad quarters (and dimes) are two of them. If you really want to discuss the hobby, find stats from whitman and dansco as to the sale of their albums. These numbers will much more likely represent the state of hobby collecting, and not the fact that many here see no reason to pay the plastic pimp for their coins.
The 70-S SD will enjoy it's value just as the 09-S VDB enjoys it (for the same reason).
(My first folder was a Lincoln Memorial Cent folder, still have it, as well as 5 other complete sets of Memorials)
Many people like to collect. Collectors tend to look for the best quality they can find.
Apparently some believe that quarters and dimes are not even really coins!! What else
would possibly explain that no one will ever collect them? The modern bashers can turn
some people away from collecting but not all of them. There are already hundreds of
people collecting the best available and many thousands collecting the best they can
get from circulation. My theory is most assuredly not that these coins will continue to
increase substantially. This is my prediction.
I certainly did not intend to demean the small date in any way. I didn't realize there were
so many collecting modern cents. This really does explain the high price. As I've been told
many many times- - 200,000 is common.
And apparently some would have me believe a few hundred gem '69 quarters will be ample
far into the future.
peacockcoins
some of these were released into circulation. It is difficult to get a good feel for the
number made for circulation because a huge sample is needed just to get a single ex-
ample. I've only ever found a single piece in circulation, but numbers in excess of a
couple million would not surprise me. If you open up 1,000 1970 mint sets right from
the "bags" there will be around 105 containing the small date. The mintage of the '70
mint set was around 2,000,000 making a total of 200,000 SD's from this source. The
reason they seem so hard to find is that large percentages of these sets have been
destroyed to obtain the half dollar. It's only been recently that most of these sets are
checked for the small dates. Many were probably just spent with the other coins in the
set after it was disassembled for the half. It is ironic that only now as the "last" of these
sets are coming to market that people are paying any attention to the quarters and dimes.
Don't it always seem to go, that you don't know what you got till it's gone!
Soccer is the most popular sport in the world (I am told). I can't stand it, and have no desire to ever compete, watch or do anything else with the sport. The sport is nothing in this country compared to football. Does that make it any less of a sport (no).
Your logic on the future of this hobby has more holes in it than swiss cheese. If you hang out where people do not believe what you believe, then you will get the perception that all are against you. Try hanging out with clad collectors, and you will think the world is rosey. There is nothing you can ever say that will make those who don't like ugly clad coins like them. You remind me of the Dolphins fan in the Jets bar during that NFL commercial.
What are you trying to gain with all of your ranting about the future of the hobby? The hobby will survive on it's own merits, not yours.
(If you want more gem 69 quarters, then go find them. I can't see my collecting future being hampered by their numbers. If they become "rare" then there value will rise. Many BU examples are sitting in collections. Make them valuable enough and some may come out. Many are in collections of people who do not keep track of their value. As long as they are kept in the albums, they will be saved for prosperity)
And since I'm not a fan I have very little knowledge of soccer. This keeps me from ar-
guing technical points of the game with those who do know.
My next set to work on is the "Has Beens." I already bought a few coins, but I need to explore which ones to include before I go any further. The 1950-D Jefferson will be first on my list when I start buying again, though.
Obscurum per obscurius
<< <i>The 1950-D Jefferson will be first on my list when I start buying again, though. >>
I got my last one of these out of circulation a few years ago. Still looking for the 39-D in circulation to complete the set though.