Finding Merc's....a wholesale odyssey
mjr36cb
Posts: 19
I remember reading a message that another gentleman had put on the board a couple of weeks ago. I don't remember who it was, but I remember that he was lamenting the fact that he had gone to the Portland coin show with the hopes of purchasing one or two merc's, only to have his hopes dashed by the extraordinary prices that are being asked for, and paid, by collectors. My friend went to another show this past weekend and pretty much had the same report. I have only been collecting my set for a short while so I would not presume to give anyone advise.
However, since I started my collection in January I have purchased 30 coins, all with FSB's. My entire output for these coins has been about $1200. My purchases have ranged in price from $7 to $220. I bought a 17-D for $125 that I send in and is graded at MS63FB. Not exactly a super grade, but I was very pleased to find this coin at a price that I could afford. I also found a 19-D that I paid $180 for that I think will grade MS60FB-MS62FB. Again, not a super grade, but for someone on a budget it was a great find. Which brings me to my point.
I'm sure that most of us cannot afford the few thousand dollars that some of the more elusive Mercury's demand. I know that my going to a coin show is pretty much just so I can see nice coins that someone else with deeper pockets can afford. All of my purchases have been from coin shops, flea markets, ebay, and collectible stores that sell all kinds of stuff. And I seem to keep finding them. Now, I'm sure if a greenhorn like me can find affordable coins, then experienced collectors like yourselves can. I started out buying a set with 10 coins in it from my friend. I now have 37, most of which are still in being graded. My goal was to have my set at 50% before the end of the year. As long as I keep using my resources, I don't think I'll have a problem achieving my goal....happy cherry picking!
However, since I started my collection in January I have purchased 30 coins, all with FSB's. My entire output for these coins has been about $1200. My purchases have ranged in price from $7 to $220. I bought a 17-D for $125 that I send in and is graded at MS63FB. Not exactly a super grade, but I was very pleased to find this coin at a price that I could afford. I also found a 19-D that I paid $180 for that I think will grade MS60FB-MS62FB. Again, not a super grade, but for someone on a budget it was a great find. Which brings me to my point.
I'm sure that most of us cannot afford the few thousand dollars that some of the more elusive Mercury's demand. I know that my going to a coin show is pretty much just so I can see nice coins that someone else with deeper pockets can afford. All of my purchases have been from coin shops, flea markets, ebay, and collectible stores that sell all kinds of stuff. And I seem to keep finding them. Now, I'm sure if a greenhorn like me can find affordable coins, then experienced collectors like yourselves can. I started out buying a set with 10 coins in it from my friend. I now have 37, most of which are still in being graded. My goal was to have my set at 50% before the end of the year. As long as I keep using my resources, I don't think I'll have a problem achieving my goal....happy cherry picking!
0
Comments
Wow, Michael J....
A very well spoken missive, on a super subject that hits very close to home, for the most of us on the forums.
Hang in there. Don't change your tactics.
Bravo Zulu
I agree with some of the above statement,but not so if your collecting early dates, MS66/67 FB .Not
as easy as your lower grades
Al
For some reason I think I just may have been the guy singing the blues about not being able to find Merc Dimes. Maybe the statement came off just a little wrong. Mercs were available at the Portland Show. One dealer had more early dates that I have seen in some time and he actually had the two dates I was looking for. If the coins would have been graded correctly and priced correctly I would have been one happy camper. But as usual they were not.
If examples like you stated would have been available again I would have been a happy camper. The two dates I was looking for were a 20D and 26D in MS64FB or MS65 no band. A couple of examples were seen but in my opinion the strikes were tooooooo weak for the collection that is being built. Another item that caught my eye on one of the 20D's was that the coin had this really weird white color. In other words it was a conserved coin that had made its way into a slab and this disqualifies the coin from getting into this guys collection.
In retrospect probably I should not have said Mercs are not available but I should have said Mercs that are worthy for the set that is being built were not available.
A little satisfation was had from attending the Portland Show. Hertage had the coins that were up for auction there and viewing them was a pleasure. Two caught my eye that were in the Bullet Auction. Guess what? They arrived here this morning. Probably if the coins had not been seen I never would have bid on them. All was not bad at Portland but I stilll maintain that Mercs are a whole lot harder to find than most folks believe.
Good Luck with the assembly of your Merc Set.
Take Care.
Ken
Edit to add a comment about a 20D Merc.
Ken was nice enough to fill me in on a few coins at the Heritage auction that would have met my lower end uncirculated coins, however, I will not be purchasing coins for a little while.
Congrats, mjr36cb, on finding some of the coins you need--it is always fun to find a coin or a group of coins at a show at a good price. You will find the many coins before 1930 are tough to locate in any uncirculated grades.
Check my list of coins needed in uncirculated grades below to get an idea of some of the tougher dates. In higher grades many of the early dates are really hard to find!
Good Luck!
Tony
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Oh Well.....
Ken
Mike is kinda down in the dumps.
He had a shipment of 15 raw Merc's, stolen last week.
While in transit to me, someone opened the USPS envelope from the rear, and removed them. I imagine he's also busy filling out the PS1000!
This probably doesn't belong here, but...
Maybe there's a lesson to be learned...?
In your excitement, maybe you shouldn't relate to certain people that you are mailing super coins, with the potential to be worth hundreds of dollars...
Of all the blue envelopes (gin mills) in all of the world......
Why that one?
If you have 37 coins already, you've done well. The second half of the set will be a real challenge, though. Good luck, and let us know when you receive the results of your submission to PCGS.
Jim
Now for Ebay
The bad....I purchased a 29-S on ebay. It will go 65....but it has a nick across both center bands....the seller said he had it in his collection for 20yrs....ok, fine, but it still isn't FSB's.....I'm sending it up to Jeff at VASBRO, he's going to do the analysis and let me know...but I suspect I'm right about this one....a real shame since it is a nice coin....by the way, allow me to put in a plug for Jeff...super nice guy who sells about a half-million dollars of inventory a month....his Ebay fees cost more in a month then I will spend on coins this year...but he'll talk to you like you just spent a million bucks in his shop.....ANA certified grader also.....VASBRO Coins in Norwich, CT
The good....From Jeff (please see above) I won a 66FB micro-s....then when we were talking on the phone I got a 20-P @ 65FB.....$227 for the micro-s, and $300 for the 20-P....
So, despite the PO's best try to discourage me I will continue to find those Merc's at wholesale prices...I will not, however, be sending anything unregistered again!!!!
You mean above.....?
Basically what I try to do is buy slabbed coins at somewhere around Blue Sheet when buying on Ebay. When buying from auction I stick as close to the Heritage figures they give for each date. Most have been under their Low Figure. When buying from a dealer it is always between Gray Sheet Bid and Ask or possibly just over Ask if I really like the coin. If this criteria is not met the wait continues, in most cases.
Right at the moment the Mercs I have come in, totally , between the Heritage Index which is low in my opinion. Not bad for a bunch of coins before 1934 with just a few 30's and 40's with color thrown in.
Hey if you get another of those killer deals that you just do not care to buy, Get Ahold of Me.......
Ken
If so thats not a good deal,thats a steal.
Al
In God We Trust.... all others pay in Gold and Silver!
Sounds like you're still making fishing lures,
Do you catch anything with them?
Jim
You beat me to it
Al
Ken
If it comes back at 66 I will sell it as I am putting together a standard set and don't really need it. I would be willing to trade it for one or more coins of equal value or sell outright. I am looking for a 45-P (aren't we all) in MS60-63 w/FSB's. In 63 I would be willing to trade one for one....lower grades would require cash or other Merc's that the other trader may have....
That 20-P that I got is just as fine in my opinion....but alas, I do need that one....
I will be sending the other 20-P that I got this past weekend in for grading.....it is FSB's and should go 62 or 63, and it is a solid strike....these things go like crazy on ebay...I know that you already know that the 20-P was the highest minted Merc between 1916 and 1936.....and I know that good strikes are hard to find...but why is this such a pricey coin for such a high mintage????
and they will bring more than a micro s in 66fb, probable about $500 more in value
you may be able to get a 64fb for 3k if you are lucky, I sold my last 63fsb 45p
to a dealer for $1450 and he sold it to another dealer the next day and made money
I think retail on a 66fb mocro-s is around 1k in a pcgs holder.
Tim
(THE POSTON COLLECTION) of merc dimes
and trust me the price guide is not that accurate, heritage auctions would give you a better
idea of what they would sell for to another collector.
Tim
heritage auctions would give you a better
idea of what they would sell for to another collector.
AL
Tim, Al, Ken, and most of the rest on this board are good people to listen to about Mercs. They've sure helped me a lot over the last 1 1/2 years!
Regards,
Wayne, AKA Clem
Wayne
www.waynedriskillminiatures.com
I'm too lazy to read thru this thread fully (well you know it's Friday
Good Luck...oh and before I forget - post more often - it has been a few weeks or more since we had a 20+ post thread with Merc interest
Marc