Would You Spend More Than $1,600 for a Quarter?

chiefbob

Hurry up and bid on this rare 1999 P Pennsy quarter, PCGS MS68! Current bid is $1,630 and the reserve is not yet met.
Pop 7/0.

1999-P Quarter

OK, someone may need it for their State Quarter Registry set. But seriously, folks, how many potential MS68s are "out there" in dormant rolls and bags? I don't dispute that it's tough to find high grade moderns, but does anyone see a dilution effect some years down the road (or sooner, as we all search through the rolls or bags we bought)? Or would the % of high grade coins remain consistent through the entire mint run for the year?

Bob

nwcs

I'll pay $1,600. Of course, the $ sign is used by many countries. Perhaps I'll choose one with a 10000 to 1 exchange rate.

stujoe

I wonder how many of those bidders would buy that exact same coin if they saw it sitting raw in a 2x2 in their local dealer's store priced at $1000-$1500...

TomB

I've paid more than $1,600 for a quarter. Once. A 1796 PCGS F12, image attached.

braddick

TomB- I don't think I've ever seen one as problem free as yours. Nice. Is it as attractive on person as the SCAN?

coppercoins

<< <i>I wonder how many of those bidders would buy that exact same coin if they saw it sitting raw in a 2x2 in their local dealer's store priced at $1000-$1500... >>



You hit the nail right square on the head with that one...just shows that buying the plastic is all this shenanigan is about. To me that's at most a $2 coin - that's what the local dealer sells them for right out of the tube. The newer ones sell for 50 cents, and most of them are relatively mark-free. Two nicks cost $1500? Yeah....get real folks!

Of course it shouldn't matter to me because I don't play that game...and it really doesn't matter. Just responding to a post I read as being very realistic.

- signed -
I just don't understand it.

cladking

The production of gems should remain fairly consistent throughout the year because
of very high rate of usage of the dies assures new ones are being installed on a
regular basis. There's some possibility that gem production decreases or stops when
key personnel take vacations but this effect is not observable. Coin and collectable
valuations have always been more dependent on demand than on supply though sev-
en would not seem to qualify as common. Indeed it doesn't take a lot of imagination
to think of seven hundred as somewhat less than common. The number yet to be graded
is an unknowable, but keep in mind that many of these come from mint sets and the first
strike ceremonies. In 1985 very few rare coins had been graded- - yet they were still rare.
Encapsulation of moderns has no effect on the number made or the survival rates of those
not encapsulated, just as with Morgans!

shirohniichan

I've paid more than $1,600 for a quarter. Once. A 1796 PCGS F12, image attached.

Tom, I hate to break this to you, but my old PCGS pop report shows that there are about 150 graded higher than yours. If you would have invested in the 1999 Pennsylvania quarter you would have been at the top of the pop charts tied with only 6 other people.

WWBillman

I to paid more than $1600.00 for a quarter 5 different times. Look down and you will see one of them.

TomB

Go ahead, burst my bubble, shiroh.

prooflike

That is a totally ridiculous price. I'll stick with my state quarter collection, even though I pull them from pocket change and put them in those cardboard 2x2s, they're shiney and show the designs just as well.

cladking

<< <i>

Tom, I hate to break this to you, but my old PCGS pop report shows that there are about 150 graded higher than yours. If you would have invested in the 1999 Pennsylvania quarter you would have been at the top of the pop charts tied with only 6 other people. >>





It would not necessarily be a good idea to invest in the newer quarter. But if
you'd like to collect them and want the highest grade there are only two options;
Look through many hundreds of mint sets and original rolls or buy a slabbed one
since no one is fooilsh enough to break one out of the slab and then try to sell it.

Of course, if more peope attempt to form these collections than there are coins to
fill them then their prices could explode! But what are the odds that there are more
than seven people who'd want to collect this clad crap.








keyboard still

wondercoin

I'll take this coin any day at $1750 plus $17,500 change in my pocket, as compared to the $19,250 just paid this past Sunday night for a 1948(s) quarter in MS68!! Anyone disagree with that thinking?

Hey, I also just saw on ebay this morning a 1986 or 1987 Gold Eagle in MS70 (I think it was the 1/2 oz) that was up to around $4200 reserve not met. I would happily take the PA and $2500 cash myself.

And, there are some classic coin prices I could list that make this PA look like a steal at under $2000! My point is simply that collecting is personal in nature and everyone does not have to agree on what makes the most sense for the $$. Wondercoin.

Bikingnut

Not one of those. An SLQ or early D mint Washington maybe.

stman

I've paid $2600.00 for a pr66 original Barber quarter. Then traded it and got full trade value for the pr Morgan on my sig line.

Edited to add: And of coarse along with the trade value of the Barber quarter I had to come up with plenty of cash to purchace the pr66 Morgan on my sig line.

cladking

<< <i>Not one of those. An SLQ or early D mint Washington maybe. >>





Exactly my point! At least with a $1,700 SLQ you get better down side protection;
The silver is always worth 75 cents no matter if no ne ever starts another collection
of SLQ's.

With th stupid clad there is no protection whatsoever. Not even face since there is
insufficient track reord to indicate the government won't rescind their reponsibility
to back the newer quarter. Hell, maybe the production of this clad crap will bring down
the US government and render the coin worthless (Just like the debased Roman coins).
Only time will tell. Why take the chance.

TomB

I think wondercoin makes an excellent point, in my opinion, when he writes that he would rather have the coin in the current auction at the current price plus the cash difference with respect to the MS68 '48-S Washington that sold last weekend for nearly $20k. Additionally, the point that, if one were to look carefully, there are certain discontinuities within the price/grade/series spectrum is very valid. Of course, in the end it is up to the individual and to how much they value each coin based upon their beliefs, desires and motivations.

fcloud

No way on any state quarter-PERIOD. I'd spend upto $20 for a proof 69 silver though...

Sometimes this modern stuff amazes me. Even though I have a set of proof state quarters, I have no interest in the high volume circulation strikes. This stuff is way too pricy for what it is. There is a huge potential to find more of these high grades with all the coins people have tucked away. At least with the 69 proofs at upto $20 each the production in limited. As these coins go down in value who cares--they were only $20 a pop! (Even the $20 may be too high, now!)

coppercoins

I would think the silver proof coins are worth what the silver proof sets sell for divided by 5 (whatever that is). At least half of them are justifiably pr68 or pr69 - I think the difference would be literally splitting hairs, and I sure wouldn't split a hair over buying five coins for $20 or so and buying the same coins for $100. The coins are the same....it's the holders you're paying the extra $80 for.

Trime

Yes I have spent more than this amount many times for a quarter but...
not just any quarter and....
definitely not for a high grade high mintage modern, because...
there are a large number of potential coins of similar grade and...
grade rarities of common coins are a poor investment (imho).

But...Who is to say what another man's needs are!

IrishMike

Anybody want to hazard a guess how much this one will sell for?1941D

SarasotaFrank

to steal of line from Keets:

"not for pocket change I wouldn't!"

wondercoin

IrishMike: I haven't a clue, but I will reckon a guess that most top shelf Wash quarter collections will be worth more money the day after the auction Wondercoin

coppercoins

I have to ask if that grade is really serious? What ever happened to luster? I don't see any way a nearly black coin can get close to MS68 according to the ANA standards.

jdimmick

My advice,
Take that 1600.00 and put it into a nice 32-d washington, 36-d
Semi-key date standers such as 19-d, 19-s, 27-s, etc maybe even a good-4 16 ?
Or a key date barber (13-s, 96-s, 01-s)


I hope I am wrong, but one day the market on these super high grade state quarters, moderns is going to collapse and leave every one holding the bag. Only the true rare modern pieces such as maybe the 83-p washington 39-d jefferson FS and some others are going to sustain thier value.

There are two many if's and too many potential hoards that are going to be found that will affect this even more in the future.

Remember the beanie baby fad???

this is just an opinion from a long time collector.

relayer

For a coin mass produced only 3 years ago - sure.

It is a PCGS created rarity.

I think you should look at your coin and if you crack it out of it's plastic, ask then yourself "Would I pay $1600 for this?". What would be interesting is if you cracked it out and put it in with your change if you would be able to pick it out again.

IvanOnly

Not only an overpriced coin, but did you see his S&H?
It was $14.00

SarasotaFrank

<< <i>Not only an overpriced coin, but did you see his S&H?
It was $14.00 >>



no need to stop the carnage once the price has been deterimed - continue the pilaging all the way until the coin makes it's way into the mail as well.

jom

<< <i>But what are the odds that there are more than seven people who'd want to collect this clad crap. >>



The question that should be asked is whether there are more than seven people who absolutely have to have the TOP coin. As I'm sure your post was tongue in cheek, there is nothing wrong with "clad" per say. I just find it difficult to pay multi-thousands for an MS68 high grade when you can "cherry-pick" a real nice MS65 for a FRACTION of the cost. And this "cherry-picking" would take a LOT less time than going thru rolls as you suggested.

I put together nice sets of Kennedys, Wash's and Ike's some years ago. I tried to find the nicest ones I could going through raw material. Is it irritating and frustrating? Damn right. Did I learn anything? Yep. I learned most of my grading "skills" doing this and I also learned that nice clads are hard to come by. Does that mean I need the latest MS68? No. I'm happy as they are...

I am pissed at myself for NOT finishing my Washington set. I only had the mint marks in the 30s to complete it but I never bothered. Grr....I could have made a lot of dough selling those now. Crap!

jom

leothelyon

No! But if I had the money to burn and thought I could get some kind of rush out of it by seeing my name up in lights, sure, I would do it. And again if I were under some pretense that there was such a buyer for a complete highest graded PCGS set for any modern series, sure, I would do. But if that buyer
didn't follow through and buy my set after I had sunk 100 grand into it. Someone may end up loosing
their marbles. LOL For some reason, I couldn't help think of a movie Paul Neuman and Robert Redford
were in, what was the name of that movie?

Leo

Typetone

I would not buy it only because I do not collect state quarters.

However, let's face it, most of us are willing to pay for condition rarity in common date coins. That is the whole idea behind type collecting. On this basis, it could be worth the price for those who want the type or who collect the series. I am tired of the value judgements that some series are better than others. People should collect what they like and not be subject to others deragatory remarks.

The only real question seems what will happen to the pops in 68 for this PA. If few additionals are made, $1,600 is a bargain. If a lot more are made, then maybe its too high.

Greg

pmh1nic

To each his own but I wouldn't pay $1600 for that when I could get a quarter like this for less then a grand (a little rusty; the scratches are on the slab):

AcgDealer

PCGS is a total scam. Do you think a quarter like this, in an ACG MS68, or even MS69, would command such a ludicrously high price? Of course not. It shocks me how people can bash on ACG when PCGS gets away with crap like this.

cladking

<< <i>

There are two many if's and too many potential hoards that are going to be found that will affect this even more in the future.

Remember the beanie baby fad???
>>



It's too late to worry about coins becoming the next beanie baby. We turned off way too
many potential collectors with our constant slamming of anything modern and continual
warnings about all the money to be lost by those foolish enough to buy them.

There are no hoards of modern coins. I've been involved with them since 1972 (started collecting
in 1957). It would be nearly impossible for anyone to accumulate any significant hoard without
leaving behind evidence. No, the coins that are left are in circulation for the main part.

oldcameoproofsguy

It is amazing to me how much enthusiasm there is for high-grade statehood quarters. Simple economics says that price is determined by supply and demand. Obviously, there is incredible demand right now for these coins, which is inflating the price accordingly.

My crystal ball says that in the years to come the demand for these coins will subside. It also tells me that there will be a substantial increase in supply, i.e., significantly more coins will be graded.

I do pay substantially more that $1600 for the quarters that I purchase today. However, there is one important difference between the ones I buy and the coin in question; in spite of what demand does, supply will never increase drastically. My money is going towards classic rarities. After all, who honestly wants to sell their collection for a substantial loss? IMO, there is considerable risk involved with putting a bunch of money into an unproven rarity. Some of the modern high-grade statehood quarters could prove to be a pot of gold, but I feel that most won't. There is way too much guess work involved here.

cladking

<< <i>
grade rarities of common coins are a poor investment (imho) >>

cladking

<< <i>
grade rarities of common coins are a poor investment (imho).
>>




You might want to go back over he trends of the last 35 years. For better or worse high
grade has been where most of the substantial percentage increases have been. Invest-
ment may be a poor reason to buy any coin, but the FACT is high grade coins have been
pulling away from their more common brethern for a long long time.

cladking

<< <i> there is considerable risk involved with putting a bunch of money into an unproven rarity. Some of the modern high-grade statehood quarters could prove to be a pot of gold, but I feel that most won't. There is way too much guess work involved here. >>




There is still scant information available on modern coins. Anyone who wants to collect these
and pay substantial amounts for coins would be well advised to learn as much as possible a-
bout them. But this is really part of the charm of these coins; knowing that you're going where
few have traveled before. The market may be efficient enough to stop "common" coins from
going to high levels thereby affording some protection to those who know little about the coins.

It seems to me that waiting until a collectable is proven to be a rarity has never been a good
idea for collectors or investors.

wingedliberty

Cladking:
So far, I agree with 100% of what you have said and could not have said it better myself.
I collect both 19th century type , 20th century series, as well moderns. I have done considerable
research as you have, and realize that mintage and survivability in a particular grade, are two different
things. I used to think that condition rarities were artificially created gimmicks. After careful and lengthy
research, I now understand the difference, although it took 6 years.


Brian.

EVillageProwler

I think grade rarities are grade rarities, even if they are of so-called common coins. An investment on the Jimmy Hayes 1866 dollar, now NGC MS67, hasn't been so good. At its high, it sold for $50K or so. At the last auction appearance, it sold for under $40K. And, this coin is hardly common.

I'm not saying that grade rarities of common coins are good investments. But, I wouldn't say that they're bad investments when compared to grade rarities of the older series.

EVP

oldcameoproofsguy

<< <i>It seems to me that waiting until a collectable is proven to be a rarity has never been a good idea for collectors or investors. >>


Cladking,

I feel there is definitely some truth to this statement. I think that the key to collecting proven rarities is to find the ones that seem to be overlooked or in low demand. There will always be ebbs and flows in demand and interest with certain coins. The focus in the market always seems to change; I do my best to try and collect the coins that are not in the limelight at the time, sometimes successfully sometimes not.

mnmcoin

That's nothing, I sold what I think to be the record price for a clad quarter...over $16,000...to a well known dealer mind you.

Can anyone guess which clad quarter it was? I'll send the first one with the correct guess a free 1943 D 1c PCGS MS66, you just pay shipping.

morris <><

michael

for me when the music stops playing on these ultra new ultra high grade coins there will be many who will be stuck holding the bag so to speak

sincerely michael

michael

is this coin worth 25% of its slabbed selling price if the coin was raw?

sincerely michael

oldcameoproofsguy

mnmcoin,

My SWAG is a 1965 PCGS MS67DCAM 25c.

cladking

Two possibilities come to mind; 1964 or more likely a two tailed specimen.

oldcameoproofsguy

I was just trying to find the pop numbers of 1964 quarters struck on clad planchets and I couldn't find the reference. Any idea of how many have been authenticated?

cladking

It was a terrible guess. It must be too late. So far as I know there is still only one known
and the owner seems unlikely to certify it anytime soon. There are a handfull of 1965 silver
quarters, no doubt some of these have been certified.