This is one expensive Roosevelt!
Mark
Posts: 3,550 ✭✭✭✭✭
I am working on a set of clad dimes, and so I know that a few of these modern coins are scarce (so far) and pricey. But this coin seems really expensive to me: Link. I'd love to buy this coin because I doubt it will ever be common in this grade--it is, I believe, currently a pop 2--but the price just knocks me for a loop.
What do you think: Is this coin a good deal, a huge gamble, or vastly overpriced?
Mark
P.S.: If you already "hate" moderns, I'll automatically count you in the "vastly overpriced" column and you have no need to reply.
What do you think: Is this coin a good deal, a huge gamble, or vastly overpriced?
Mark
P.S.: If you already "hate" moderns, I'll automatically count you in the "vastly overpriced" column and you have no need to reply.
Mark
0
Comments
The Ludlow Brilliant Collection (1938-64)
I did buy a proof Roosevelt recently. Here it a link. The brilliant part of the obverse is a little orange, the center of the reverse is red and the rims are blue. The photo is the closest I've gotten so far...
Obverse
Reverse
I consider a lot of this sellers prices inflated though.
Brian
<< <i>I could look through my change and sell you a 63 for $5
No. This date makes up .7% of the circulating dimes. Specimens above Fine are tough to find.
With some diligent searching you might find an XF. In all probability it would be poorly struck
from worn dies. Figure about ten bags of circ dimes will yield a nice VF+.
Unc specimens of this date were statistically gone from circulation by about 1987 and AU's by
around 1999. In this case statistically gone means that there is fewer than one specimen
based on the projections of attrition.
i checked the PCGS pop report and they don't even list the coin in non-DCAM. of course you could send it for the designation review, but what for??
al h.
<< <i>
<< <i>I could look through my change and sell you a 63 for $5
No. This date makes up .7% of the circulating dimes. Specimens above Fine are tough to find.
With some diligent searching you might find an XF. In all probability it would be poorly struck
from worn dies. Figure about ten bags of circ dimes will yield a nice VF+.
Unc specimens of this date were statistically gone from circulation by about 1987 and AU's by
around 1999. In this case statistically gone means that there is fewer than one specimen
based on the projections of attrition. >>
As a statistician, I would love to know where you get these statistics you are constantly quoting.
because many who considered saving it changed their mind after looking at the
coins. Mint set coins are usually very poor. Most have severe surface problems
and frequently are also poorly struck. About 10% of these will not have the
surface problems and many of these will be gems. Superb gems of this date are
still quite difficult because strike will knock out most that aren't knocked out by
marks. Between one and two percent of mint set coins will go MS-66 or better.
1 1/2% of 2,000,000 coins may seem quite common but one must remember that
large numbers of these sets have been dismantled to obtain the bicentennial
dollars, halfs, and quarters. There is also interest in the cents and nickels. The
valuable type 1 dollar is often removed and the rest of the coins spent. Throughout
most of the 80's and early nineties this set sold for less than face value. How many
were destroyed by disappointed sellers or buyers with no market? These coins have
not been systematically saved or collected so there are virtually no "old time collections"
to turn to to get the coins. Future coins being slabbed will for the main part come from
mint sets which are still intact today.
I'm not extremely familiar with pricing at the current time, but based on the strike of
the pictured coin (weakness in date) and the marks on the bust it seems likely one
could do at least a little better for the money.
Hope Your Buying Goes Well,
~Wilson
I Like the Washingtons (65+)
I Am beginning to enjoy old halve dollar commemoratives (65+)
I will be President of the United States in 2020
"I learned this, at least, by my experiment; that if one advances confidently in the direction of his dreams, and endeavors to live the life he has imagined, he will meet with a success unexpected in common hours.” ~Henry David Thoreau
<< <i>
As a statistician, I would love to know where you get these statistics you are constantly quoting. >>
I am no statistician, but have been watching the coins in circulation since 1957 and
have been collecting them since '72. I've been watching the mint sets since I dis-
covered their quality in '74. None of my methods or computations are very rigor-
ous, but the field does not seem to lend itself to rigor without large outlays of effort
to obtain the data. As I've said before, I would love to be proven wrong.
<< <i>You can buy a lot of nice looking darkside stuff for that price. >>
Yes. There are lots of great rare world coins which can be purchased with the kind
of money that the owner wants for the dime. There are lots of great rare US coins
that can be purchased for this kind of money. But, if you want to purchase slabbed
1975 dimes in high grade there is a good chance you'll find that supply and demand
will balance somewhere in the area of the asking price (or at least the selling price).
jom
<< <i>
jom >>
If one wants a nice attractive set of clad dimes this would be an excellent route to take.
Most are available slabbed in MS-65 for relatively small sums. Indeed, one could cut the
cost even more by finding the coins raw. If you look at ten 1975 mint sets you'll probably
see an MS-65 or better and the set will cost only about $10. The rest of the set wholesales
for about $6.50 so your net outlay is only $3.50. There is a real chance that the '75 dime
you find will be MS-67 since these sets are not picked over heavily! Even if it isn't, by the
time you assemble an entire collection this way there will be some MS-67 and MS-68's in it!!!
You'll find the set surprisingly harder to assemble than you might think though since many
dealers don't stock this type of coin and some of the sets are getting decidedly tough to find.
Not all of these dimes appear in mint sets and there are very few varieties represented at
all in mint sets.
learn what your looking for and start to search. i search for the best Jefferson's and Ike's i can find in the 71-78 mint products for my raw sets, as well as coins to submit for my registry sets and resale to take the edge off of my budget. it doesn't take much looking to get an idea of what a nice coin looks like and what a 64, 65, 66 is. now, what PCGS grades is a different story. we agree sometimes.
my point is, don't get locked into buying already slabbed coins. search for raw ones to submit. it makes the hobby much more enjoyable for me. especially when i find that mint set overlooked gem or the classic that grabs me by the eyeballs!!!
al h.
<< <i>and Ike's i can find in the 71-78 mint products for my raw sets >>
I used to do that when I first started back collecting again 10 years ago. Used to give me a headache looking thru dealers stuff and finding a bunch of junk. After I finished my Ike set I quit...too many aspirins.
jom
<< <i>...Used to give me a headache looking thru dealers stuff and finding a bunch of junk. After I finished my Ike set I quit...too many aspirins.
It can be quite confusing to the mind and eye looking through sets this way. If the
dealer is agreeable it's easiest to remove all the coins from the sets and separate
them by mint (blue and red packets). Look through all the dimes from one mint at
a time. Then check the other denominations. You'll find the gems will just jump right
out at you. It will require very little concentration.
Though of course you'll have the added work of taking them out and putting them back.
The extremely low submissions of these coins is kind of a shock. It appears that the best thing to do is locate a bunch of '75 Mint sets and send them in for grading, cross your fingers and hope for the best!
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
jom
<< <i>Well, sometimes (actually, most of the time) I was looking at already seperated coins. Maybe that was my problem! lol Although, I can say that most dealers don't like the fact you want to cherry pick thru their stuff. Most used to give me grief about it.
jom >>
This is part of the reason that the mint sets aren't heavily picked over. Another major
factor is that the coins in the set generally wholesale for more than the price of the set,
so that there is a high probability that any given set available on the market will be
disassembled to capture this difference. Sets tend to be destroyed as fast as they get
picked over.
decided the price was to high. I was at long beach all day just to come back and find this auction canceled. My
guess is he got his price from someone who didn't want to be known. I checked the number 1 PCGS registry
Roosevelt clad dime set and this was the only date that The Michigan set did not have in MS67 or higher.
Wonder where it went.
I also have never had a nice 1975-P Roosevelt. They seem to come into our shop very poorly struck and without much luster.
Theoretically, more will be made once all the Roosevelt dime rolls sitting around coin shops are gone through. However, many coin dealers do not look at the Roosevelts too closely. So this could be a very long time period. I very seldom look closely at the fresh Roosevelt dime rolls. I would guess that I look closely at less than 1% of the uncirculated Roosevelt dime rolls that come through my shop.
If waiting a few more years for a nice example of this coin does not bother you, then I would say hold off. If you would like to have, or continue to have, one of the nicest set registry Roosevelt Dime sets then I would go ahead and buy the coin. Remember, many collectors and dealers thought the person who bought the 1963 PR70DCAM from Rick Tomaska would not do very well at the $2000+ level. We all know how that turned out. Perhaps you will have the unfortunate luck of making many times your money on this piece as well. Relative to an Ike dollar in MS 67 with the same pop, this coin would be a bargain.
Best of luck in your decision,
John Butler
Sahara Coins
&
Vintage Paper Memories
<< <i>
Theoretically, more will be made once all the Roosevelt dime rolls sitting around coin shops are gone through. However, many coin dealers do not look at the Roosevelts too closely. So this could be a very long time period. I very seldom look closely at the fresh Roosevelt dime rolls. I would guess that I look closely at less than 1% of the uncirculated Roosevelt dime rolls that come through my shop.
>>
I find it a little surprising that you've had more than 100 Roosie rolls come into
your shop. I've been all over the country looking for rolls and few shops ever
have more than a few rolls or have much turnover in them. It would be most
interesting to hear a brief description of the sorts of rolls you've handled. Are
they OBW? Early dates? Late dates? Tubed? Mixed? Do you do much business
in them?