Washington quarters (1932-1964). Is the sky the limit?
WashqrtrsRme
Posts: 137
As an avid Washington quarter collector of the '32-'64 series, we've seen some big increases in retail values for most of the dates in this series. You don't have to collect this series to know what's been happening to it in recent years. For me personally, it's hard to gauge just how the market will continue to react as more and more coins are certified. One things for sure is that it's been a heck of a lot of fun for me personally! As evidenced by the ever-increasing populations, the latter early dates (late '30's) and the middle-year dates (mid-40's) of the series seem to have been impacted the most by increasing pops., mostly in grades up to and including MS66. Most dates in the mid-to-late'40's can still be purchased at reasonable prices, even in grades up to MS66.
Being a collector who now pursues finding some of the tougher dates in MS67, this venture offers some challenges in finding these dates. Also, it leaves me wondering how some of the better, low-pop. dates will be effected in the future by the increased submission of more and more coins, i.e. increasing pops. I will always be a collector first, so I try to not think too much about where the market for this series will be in 5 years in terms of it's investment potential. Common sense would dictate, that based on trends of the past 5 years, this series can only keep on going up and up, based on demand vs. availability, but who can say for sure. I believe the great dates of this series will remain strong and become even better, as evidenced in recent auctions and retail pricing publications. The key dates will remain strong and will continue to command premiums for PQ examples...nothing seen thus far has shown anything to the contrary. As no one can predict the future, it's hard to know if some of the really good dates in 7 will see a big change in pops. for MS67 coins. For me, it's really hard to believe that some dates which still have pops. in the single digits for MS67's will ever see a dramatic change in those pops. Being a student of this series for 20+ years, I can understand why, for example, there are still no 1955-D's in MS67. A really tough date to find with any appeal, most examples are dull, scattered with hits and have ugly toning. I won't venture to say that we will never see an MS67 made for this date, but here we are 18 years after the inception of PCGS, and still there are none. The '32-D and -S remain the only other dates in the series with still no MS67's yet made.
Oddly enough, most Denver dates in MS67 from the 1950's are much tougher than most Denver dates from the mid-to-late 1940's. I believe that the Denver dates in MS67 from the 50's will remain relatively low-pop. coins, and will therefore continue to command higher prices. As for the dates from '59-'64, the pops. remain extremely low, with two dates claiming only 1 coin in MS67 (the '61-D and the '62-D). Granted, hundreds of millions of these dates were produced, but I think that because they were produced in such high volumes and poorly handled, most coins did survive in high states of preservation, as evidenced from the low MS67 pops. I honestly don't think we'll ever see a dramatic change in these pops., based on how many coins have been submitted vs. how many coins have been made. Suffice to say, my guess is that all dates after 1958 in MS67 will remain relatively low pop, high-dollar coins.
So where will this series go from here on? Only time will tell, of course, but I think that this series will remain strong. In the event that this series concludes at the end of the State Quater program, which I think it will, then it's a "no-brainer" that all prices for all dates in grades of MS65 and above will keep going up and up. If you already collect this series, then you've seen what's been happening to it. If your thinking you'd like to start collecting this series, then let me say what I've told others who've asked me this question...get going, as prices will never be any cheaper than they are today! Besides, it a great series that offers great challenges and most coins can be found in grades to suit all pocket books. For me, it's been great fun and I've made some great friends along the way...thats' really what it's all about!
Happy hunting!
Tom Schiera
WashqrtrsRme
Being a collector who now pursues finding some of the tougher dates in MS67, this venture offers some challenges in finding these dates. Also, it leaves me wondering how some of the better, low-pop. dates will be effected in the future by the increased submission of more and more coins, i.e. increasing pops. I will always be a collector first, so I try to not think too much about where the market for this series will be in 5 years in terms of it's investment potential. Common sense would dictate, that based on trends of the past 5 years, this series can only keep on going up and up, based on demand vs. availability, but who can say for sure. I believe the great dates of this series will remain strong and become even better, as evidenced in recent auctions and retail pricing publications. The key dates will remain strong and will continue to command premiums for PQ examples...nothing seen thus far has shown anything to the contrary. As no one can predict the future, it's hard to know if some of the really good dates in 7 will see a big change in pops. for MS67 coins. For me, it's really hard to believe that some dates which still have pops. in the single digits for MS67's will ever see a dramatic change in those pops. Being a student of this series for 20+ years, I can understand why, for example, there are still no 1955-D's in MS67. A really tough date to find with any appeal, most examples are dull, scattered with hits and have ugly toning. I won't venture to say that we will never see an MS67 made for this date, but here we are 18 years after the inception of PCGS, and still there are none. The '32-D and -S remain the only other dates in the series with still no MS67's yet made.
Oddly enough, most Denver dates in MS67 from the 1950's are much tougher than most Denver dates from the mid-to-late 1940's. I believe that the Denver dates in MS67 from the 50's will remain relatively low-pop. coins, and will therefore continue to command higher prices. As for the dates from '59-'64, the pops. remain extremely low, with two dates claiming only 1 coin in MS67 (the '61-D and the '62-D). Granted, hundreds of millions of these dates were produced, but I think that because they were produced in such high volumes and poorly handled, most coins did survive in high states of preservation, as evidenced from the low MS67 pops. I honestly don't think we'll ever see a dramatic change in these pops., based on how many coins have been submitted vs. how many coins have been made. Suffice to say, my guess is that all dates after 1958 in MS67 will remain relatively low pop, high-dollar coins.
So where will this series go from here on? Only time will tell, of course, but I think that this series will remain strong. In the event that this series concludes at the end of the State Quater program, which I think it will, then it's a "no-brainer" that all prices for all dates in grades of MS65 and above will keep going up and up. If you already collect this series, then you've seen what's been happening to it. If your thinking you'd like to start collecting this series, then let me say what I've told others who've asked me this question...get going, as prices will never be any cheaper than they are today! Besides, it a great series that offers great challenges and most coins can be found in grades to suit all pocket books. For me, it's been great fun and I've made some great friends along the way...thats' really what it's all about!
Happy hunting!
Tom Schiera
WashqrtrsRme
0
Comments
There still may be some steam in the Washingtons over the next two-three years, but I find THIS statement hard to believe!
Here's a warning parable for coin collectors...
My two cents:
There are spectacular values in the Wash quarter series at this time and horrible values as well. I mentioned earlier today that I am no fan of average quality 32(d) quarters in MS65 at upwards of $30k/coin. As I make any of those, I will sell them off. On the other hand, there are dates in the series I am a huge fan. As I make those or buy them at auction, I will hoard them. The series was no great performer in 2003 IMHO. Roughly 75%+ of the series was not worth more at year end than at the start of the year IMHO. Indeed, many dates took a breather in 2003 and I personally added to positions much more than reducing them in 2003. This series is far from "on fire" at this moment. I view these times as good times to add to certain positions, but, again, only selected dates I believe. The key to the Wash quarter series is knowledge. One might want to try buying and selling some coins in the series, measure the profits or losses and then decide whether one likes the series. Even collectors should try this from time to time I believe.
Wondercoin
roadrunner
RR: Are you suggesting that one could buy a few nice Seated quarters with the $30k instead of a 32(d) MS65 quarter?
Wondercoin
I loved the Washies from 1974-1990, but finally got fed up waiting for them to do something. Same with gem Lincs. Go figure!
roadrunner
Craig: We agree, but it certainly doesn't mean we will prove to be right. I thought the svdb's were a bit high at around $12k for 66RD. Then, I watched one sell at FUN for around $17k!!! Now, $12k is looking good!
Wondercoin
millions of the states collectors and hundreds of thousands of them have reached back
to start circulated sets of clad Washingtons.
How long will it be before they decide to go back a little farther?
I disagree with Mitch that except for a few dates, the washington quarter market is far from hot. My example are two rather common dates that sold on eBay tonight. A 1947-D which sells for about $325 sold for $430 and a 1947-S which sells for about $300 went for $431. They were both blast white coins and rather very nice looking. PQ coins will always sell, just what Craig said.
The 32-D MS64 date is getting up there. One sold for $8625 at FUN, although many can be found at the $5k range. And the MS65 is over $30k, which just a year ago was under $25k. With some top collections being sold recently, it has flooded the market some. But if you look at the top sets in the Registry, there are some very strong sets being put together. And that doesnt include the newbies and people who havent found the series yet.
CladKing -
There are many millions of state collectors and hundreds of thousands of them have reached back to start circulated sets of clad Washingtons
Sorry to have to THROUGHLY disagree with this statement. As the holder of the currently #3 CLAD set, there are NO NEW collectors flocking to this series. It is virtually dead and many harder to find coins are going for less and less money. I believe the interest in this series lies with the SILVER collectors looking to expand their sets from 1932-1998. Especially when PCGS expands the basic Registry set to 147 coins.
<< <i>
CladKing -
There are many millions of state collectors and hundreds of thousands of them have reached back to start circulated sets of clad Washingtons
Sorry to have to THROUGHLY disagree with this statement. As the holder of the currently #3 CLAD set, there are NO NEW collectors flocking to this series. It is virtually dead and many harder to find coins are going for less and less money. I believe the interest in this series lies with the SILVER collectors looking to expand their sets from 1932-1998. Especially when PCGS expands the basic Registry set to 147 coins. >>
The interest in high grade clads is coming from established collectors many of whom
collect the silver coins and want to have complete sets. The newbies are buying hun-
dreds of thousands of folders to put the clad quarters into. They are filling these folders
with coins from circulation at a furious pace.
Most collectors take many years to go from neophyite to numismatist and the bulk of the
states collectors have yet to spend much money except on supplies and the like. It is
apparent that the demand for the clad issues is still very paltry. All one has to do is look
at some of the prices of the tougher issues and he'll know that demand is weak across
the board. It is continuing to grow rapidly however. While this may not translate to prices
for the highest grades it most certainly shows up in the price of rolls and singles.
As time goes on it is likely the demand will become much greater and will tend to focus on
the high grades and more importantly on the choice grades, varieties, better dates, and
related coins. As this grows there will follow moves to other series and coins and silver
Washingtons should be a prime beneficiary.
Actually, I did state that roughly 1/4 of the series performed fine in 2003 - that is more like 21 coins, not a few.
I'll conceed, "hot" is in the eye of the beholder. And, there are numerous positive developments within the series. So, we'll see what 2004 brings.
Wondercoin
As for where the clad quarter collectors are coming from. Your guess is as good as mine. Eventually they will come around. Could be from Clad Roosie collectors too
I can tell you where the latest #13 set came from.
Wondercoin
I personally plan on spending more money in 2004 -- and I've started it with a BANG!
Unfortunately, we all know that the sky is quite the limit. Fortunately, I believe that they just broke through the ozone layer!
I believe that there is still a lot of steam left in this series... still a lot of "state" collectors ready to join. And, can Standing Libs. be left standin' for long?!?
I am surprised that the proofs haven't kept pace with the c.s. coins. There are still a lot of underpriced coins in that series. Don't you think so, Mitch? I see that you have joined that "race".
Don
WWQ
WOW! I just looked at the registry sets 32-64. There are 20 sets with little red tags!!!!
Of particular interest was the 89th set, called "Watch out wonder coin." What's up with that?
Doug: I have little doubt that a collector starting with a single MS67 coin can build a world class (and possibly #1) set. Or, maybe it was my recent comments concerning the price levels on the 32(d)?
WWQ: The start of that clad set came primarily from two groups of coins I recently purchased. I decided last week to begin work on a set rather than sell of the coins - no rush at all and no serious interest to chase #1.
Wondercoin
As for the Washington Registry, the race is getting closer among those in the no. 3-10 spots. I just added a beautiful MS67 '54-S to my set today, however I think I'm forever stuck in the no. 5 spot, or lower! There are some MONSTER sets being put together these days. My good friend Craig Norris is assemebling what may very well end up being the finest Washington set of all time. For those of you who know Craig, he's one heck of a nice guy, not to mention a very dedicated collector of this series. You won't find a more honest guy, either. My hat is off to you, Craig! Thanks also for all your help in my collecting endeavors!
Since I began participating in this particular registry, about 3 years ago, I'm amazed at all the collector interest this series has generated! I wonder how many PQ sets are out there that aren't even particpating in the registry?!
Regarding comments about the "peak" of this series' potential, some may argue, but I still believe we have yet to see the "high water mark" for the silver Washington set and where it is going to go. As I commented in my original post here, IF this series does come to an end at the end of the State quarter program, I believe a lot of people, both collectors and investors will be scrambling to acquire coins in the '32-'64 series. At that point, it's likely that demand will outweight availabilty, which will hedge retail prices even higher. As Mitch eluded to, this will be a good year for us to get a better idea of what the market will bring, to see if some of the better coins will keep bringing in higher/record sell prices. Time will tell...
Tom
I may have shared this before, but I love my quarters so much, that when I started putting them in PCGS holders and filling it out as a PCGS set, I promised myself no playing around in the registry. I just love them too much as they are. MS66 was the grade I was shooting for, and have accomplished that with the exception of the 32-d and 32-s. The 32-S is definitely a shot upgrade. In my mind's eye, I have my own number 1 set, built just for me, and no one else. If one upgrades to a 67, I will sell it, and replace it with a 66.
I can't tell you how much fun it is without the pressure. Now proof lincoln's . . . that's an ENTIRELY different ballgame --- no holds barred going to circle the very tip top until I can pry the upgrades out of the hands of others.
That's an interesting take. A #1 set, just for you! But I think I understand how special your quarters are to you. I think your 32-D may upgrade. Have you tried yet?
If you do want to sell a 67, please look me up I would love to take them off your hands.
All the best
WWQ
Thanks for your kind comments, I'm flattered! I agree, it really is something how collecting coins can bring people together and help them to form good friendships. It's really great to see how nice (not to mention unselfish) many collectors can be in helping each other to attain coins they need without trying to "gouge" the other guy. I've met lots of nice people through my collecting interests and you're certainly one of those people, Craig...thank you! Too bad you can't put together a nicer Washington set, Craig...maybe someday!
Tom
First post for me, I've been reading here (major lurker) for months and finally decided I could type. Had my Washers in the Registry for over Three years (heck, started as #9 with nothing but 65's), those days are over with you power hitters!
That was my 32-D Washer in 64 that sold for $8,625, now I'm wondering who bought it? Several guys bid on it that I have spoken with but I don't know where it ended up. I bought it from David Hall in September! I also sold the only 32-D in 63 at that same auction and wasn't as happy about the proceeds for that one!
For a few days I actually owned 3 1932-D's, a 63, 64 & 65.... Only got the 65 left, had to scuttle the lesser one to help pay for "The Monster"!
Anyway just wanted to say hello!
Craig R.
Someone here may have an answer to you question.
I still like the collectible version of the 1932-D quarter best. It is a choice BU grade, meaning MS-63. Not perfect but still affordable. I do not see any price correction on those grades and below. Further price increases may not happen for a while since prices advanced too much, too fast.
But with all the talk below of quarters why did wondercoin have to ruin this thread for me? He called Tom's posting a nice position piece!!!!
A POSITION PIECE??????????????????
Oh my, this is bad.......we have evolved to position pieces here when the subject of all this are these funny little round things we used to put in our mouths when we were four years old!!!
I'll make it up to you, somehow
Wondercoin