New Nickels? Big Deal !
LovethoseIndians
Posts: 222
The 2004 productions of the two new Jeffersons will be three times greater than any other year. Approximately 2 billion...thats BILLION of these suckers will be minted and distributed.
What does this really mean for collectors? I say the proof nickels will have some collection value but with TWO BILLION for distribution...a MS-70 new Jeff will be worth oh lets say .10 cents plus the $27 to slab it...hahahahahahahhahahahahahahahahahahahahaha
What does this really mean for collectors? I say the proof nickels will have some collection value but with TWO BILLION for distribution...a MS-70 new Jeff will be worth oh lets say .10 cents plus the $27 to slab it...hahahahahahahhahahahahahahahahahahahahaha
God I Love Indian Head Cents more than any other coin!
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While not quite 2 Billion (actually only 1 Billion of each type of the two types for the year), a MS-70 new Jeff of each type will be worth oh lets say 1.7 times the cost of an Indian Cent in MS-70, at least to a type collector, based on numbers minted.
With 1.7 BILLION Indian Cents minted and distributed, the shear number of coins means that there are hundreds and hundreds of MS-70 Cents out there just waiting to be sent in.
hahahahahahahhahahahahahahahahahahahahaha... What a joke.
The mint also does not have a marker like the steps to indicate to the outside world if the coin was struck properly. I wonder if they will get struck like the lincoln cents and have flat spots all over the place.
i find it ironic that Jefferson Nickels would be the topic of poor strike quality. back in the teens through the thirties, another five-cent coin had it's own striking problems and it's own critics for same. the reasons were much the same, die wear or over-use as mandated by the Mint vs. todays mandated low relief design to accomplish the same result, maximum mintage from a minimum of dies.
funny how we cherish those well struck Buffalo's and accept the poorly strucjk ones for what they are. i assume the same will happen with todays coinage. vanity, oh vanity, nothing is new. all things have been before, just in a different form.
al h.
Tom
The only thing that matters as far as its collectibility is people's perception of it and one
of the primary determinants of price is how many survive. Mintage is incidental to this.
please explain what you mean by the slabbing of new coinage and its negative affect on the coin collecting market because i have very strong feelings on the rant you're trying to run through the forum. as the old saying goes, that dog won't hunt!!!! you appear to be grumbling because attention is diverted from an area where you wish eager collectors would infuse some "interest driven price rises" into series you hold a stake in.
why not just collect what you like and not expect the likes/dislikes of others to interfere with your enjoyment?? besides, the hobby of Numismatics is perhaps one of the better examples of Reagans phrase trickle down economics. you can almost go to the bank with the belief that a new collector of Lincoln Cents will discover IHC's at some point in the future. you will reap the benefit of your despised moderns at that time. if, on the other hand, you were expected to see new collectors enter the hobby chasing IHC's, Seated Liberty Coinage, Half-Cents or early gold, well, don't hold your breath!!
al h.
So it's bad for your coin market if I buy what I want. Can't your coins stand on their own merit, without being hyped and propped up?
.......you talkin' a me??
al h.
<< <i>Have a little cheese with your wine. If you don't like modern coins, don't collect them. I see no need to bash those who do. Indian Cent were once modern too, and they were struck in huge quatities. Luckily, some modern collectors 100 years ago preserved some well enough that we have MS65RD examples remaining. >>
I agree, I think I will put a few away. After all, it's only a nickel.
Wouldn't it be great if they went for quality as opposed to quantity ?
Strong strikes have always been more popular than weak strikes.
Skipper
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<< <i>a MS-70 new Jeff will be worth oh lets say .10 cents plus the $27 to slab it...hahahahahahahhahahahahahahahahahahahahaha >>
I think the first MS67s will sell well into the three figure range. If large numbers are made, the price will fall to $50-75. A 68 will sell for 4 figures. A 69 or 70 would be 5 figures.
You make an MS70, I'll pay you 10 times your $27.10 for the coin!
Heck....out of 100 mint sets I would bet I could find 20 or so 67's in there huh?
<< <i>How many dies does it take to make 2 Billion coins? >>
Last figure I saw for nickels was between 300,000 and 500,000 coins per die pair so about 4,000 pairs of dies (8,000 dies total)
A challenge few speak of is a highly graded Ike set... Tougher than one thinks and those are mods too!
BTW, what is the def of a mod? hahahah Some say post 1964 and some say post 1934...Personally I agree with the the 2nd . I believe anything (mostly anything) after 1934 to be mod.
And don't get me wrong as I collect Ike's too! So that puts me in as a mod buyer as well attempting to get a MS-66/PR-66 Ike set has proved very difficult to say the least without spending a small fortune on a mod.
Brings us back to paying "several hundred dollars for a new nick"
Oh well.... I'll crawl back to my cave now
<< <i>Hey Brian hahahahahaha I know, I know...I am just ranting about grading new coins is all....But I'd bet seriously out of 100 fresh new mint sets there would be several 67's or better in there.....all depends on many factors but I know a dealer here that purchsed 100 mint sets from 1999, and he got back 74 quarters graded at MS-67 (various states but mostly Delaware and New Jersey.... so that was 74 out of 500 quarters....He also received many 65's and 66's and I just laughed as those coins were on his shelves for ever and a day, and the ones he put out on e-bay or at shows brought in just about a hair more than he paid including grading. >>
There are very few MS-67 FS nickels which have been made since 1965. Each coin and each date has
its own unique range of quality and methods of manufacture so its not really safe to predict how the new
nickels will appear. There also will be a different quality range in the mint sets. These coins are always
struck better than circulation issues but they can have other problems like planchet defects, excessive
marking, scrapes, or tarnishing very rapidly. There have been years during this time there there may
well have been no MS-67 FS nickels produced. Survival rates for even high grade coins is so poor that
if they weren't in the mint sets then even millions produced may not have resulted in a single surviving
specimen. This is not hyperbole. Gems tend to "bunch up" just as varieties do in the distribution channels.
It is hardly unlikely that large numbers of gems may ALL have gone straight into circulation.
Certainly people are watching more closely now days and saving more coins, but high grade examples
can still be quite scarce.
The quality of the '99 mint sets was quite poor and this applies especially to the DE and NJ issues. That
your dealer was able to obtain so many good examples was extremely lucky. That they didn't sell rapidly
is testament to the thinness of even the hottest modern market.
I heard RJReynolds got the pipe put on