Plate coins: Do you dig them?

ColonialCoinUnion

Would you pay a premium for an exceptional coin which is featured as a plate coin in the Breen Encyclopedia or other important reference book?

If yes, what percentage premium would you pay?

If no, please explain why the sun seems larger when it is lower on the horizon.

KlectorKid

I do dig them. Not because were in a book but because most seem to be pretty nice examples of the coin. Depends on the coin but probably 30% if its fits the above criteria.

Russ

I hunted an example, (not the actual), of a plate coin in Tomaska's book on cameo coinage for quite a while and, yes, I paid a premium to finally nail one.



The birthmark obverse die variety of the 1967 SMS Kennedy. Ain't it cool?

Russ, NCNE

KlectorKid

Very, I assume the birthmark is the spot without frost in the hair?

Russ

<< <i>Very, I assume the birthmark is the spot without frost in the hair? >>



You assume correctly. It's caused by a slight depression in the die.

Russ, NCNE

JrGMan2004

Most definately. I would love to own a Plate Coin from "Federal Half-Dimes 1892-1837" by Logan/McCloskey. Most of the plate coins came out of Logan's collection, and Logan's pedigree is the only pedigree worth a premium to me.

291fifth

No. When my local dealers start paying premiums for such things I might consider it. My suspicion is that it will be a cold day in hell before that happens. Essentially, they don't pay a premium for anything. I agree with them.
When you start paying premiums for such things you are greatly shrinking the market for potential resale. Too many collectors won't pay the premium asked. They would rather wait for another nice example to come along with no premium attached. I agree with them, too.

nwcs

Nope.

Bustman

I like any coin with a little "history" ( pedigree, plate coin, hoard, shipwreck, etc.), it makes the coin all the more interesting. I do try not to pay much of a premium.

Coinosaurus

I once bought a seated quarter and did not figure out it was a plate coin until I tried to attribute it

Nic

You bet and I dig them. Percent premium depends on the coin. Although I said yes..... the sun looks bigger because of the way the light reflects off its slab.
K

MrEureka

Plate coins: Do you dig them?

The original plate money...

Lakesammman

I own a couple minor ones and hope someday someone will pay a premium for them! Unless it was an unusual coin, I wouldn't pay a premium for it.

aem4162

what's a plate coin and why is it special?

ColonialCoinUnion

<< <i>what's a plate coin and why is it special? >>



The plate coins I am referring to are the actual coins pictured in numismatic reference books.

For example, when Walter Breen wrote the Complete Encyclopedia of US and Colonial Coins and traveled all over the place researching, studying, and writing and utlimately selected certain coins to photograph and include in his book.

Since old Walter had access to most every great coin known, one could conclude that if a coin was pictured in his book it must have been among the very best (if not the best) of the type he could get his hands on.

And since the Encyclopedia has become a classic reference book for numismatists, and has been so for 20 years, a great number of people will have seen the photographs perhaps giving the coin a little extra cache'.

Note: I would make a distinction between the Breen Encyclopedia plate coins and, for example, the Redbook plate coins. The coins pictured in the Redbook have changed a lot from edition to edition, so I would say they now have much less cache' than the Breen plates which have been exceptional, and unchanged, of course, since the book first was published in the 1980s.

So a Breen plate coin might be considered a very special item.

BillJones

I have two plate coins and one plate token from the Fuld Store Card book.

I own the 1803 half dime that is pictured as coin # 2980 in the Breen Encyclopedia. The earliest auction record of the coin that I could find was lot #12, "The Dr. W.E. Caldwell Collection of United States Half Dimes," that was the first part of "The Matt Rothert Collection" sale by American Auction Association (Bowers & Ruddy) November 16-17, 1973. I believe that Breen got a lot of the pictures for his book from the Bowers organization. They have the photos from the coins they have sold over the years. The seller did not know that this was a plate coin. I discovered it myself during my research.

The second piece is in Bolender's early silver dollar die variety book. The obverse is plated there, and it is Bolender variety #20. I bought this coin many years ago, and the seller did know that it was plated there.

My Civil War token is PA 765 J-1a, A. Ludewig tobaco, snuff and cigars. The seller marked the piece as the Fuld plate token, and when I checked it, the piece matched the photo to a tee. I paid well under $100 for token, which was pretty much the going rate for it in Mint State at the time.

I would not pay very much extra for a plate coin, but they interesting. Some collectors are really into past owners and plate coins and are willing to big premiums for them. I knew one collector, who was a very wealthy man, who was willing to trade for a lower grade piece if it had been owned by a famous collector. In that way he was actually able to make some trades with museaums.

DeepCoin

I would pay extra for a coin that was a plate coin, not sure how much. The key would be to have the book and the coin. While it may not be worth more to others, it would have intrinsic value to me and I would probably pay extra. The premium amount would not be significant, but then I do not own coins of great (5 figure) value.

Shamika

Yes, I'd pay a premium. Buy not more than 20% I think.

lordmarcovan

<< <i>Plate coins: Do you dig them? >>



Since I'm into detecting, and I have a piece of plate money, I thought that's what you were talking about, at first.

In which case, the answer would be, "Man, I wish I could dig 'em!" But most, including the 1750 Swedish 2-daler piece I have, are shipwreck salvaged. and they would make such a huge signal on a detector that I probably wouldn't dig it.

But since you weren't talking about metal detecting OR plate money, I guess I should answer your question. I would pay a small premium, say 10% or so, maybe, for a plate coin in a well-known reference book. Maybe 20% if it was a book I used often, a coin I really liked, and one I planned to keep for a while.

This assumes we are talking about an expensive coin. If it were a less expensive coin (under $50-100 or so), then I might pay a larger premium. (I once had an 1890's British halfcrown that was far superior to the plate coin in the Krause catalogs, and it was not a very expensive piece.)

JadeRareCoin

I would absolutely pay a strong premium for a plate coin. How much depends on the reference book that it's plated within. My biggest regret was selling the 6 Logan Half Dime plate coins that we purchased a couple of years ago. We paid a 50% premium for them at the time, which was cheap, cheap, cheap (in hindsight). Times were kinda lean, so we sold them for a profit, but it was a nominal profit. Since the most expensive plate coin that we sold was only $350, I should have kept the set together and sold them as a set. Imagine trying to collect as many of the half dime plate coins in Federal Half Dimes by Logan/McCloskey! That would be something. Heck, I should have kept them for myself!

To me, having a plate coin is very significant. I get excited just talking about it......

tradedollarnut

Well, there's two distinct items contained in your question "Would you pay a premium for an exceptional coin which is featured as a plate coin in the Breen Encyclopedia or other important reference book?"

The first answer is that I will always pay a premium for an exceptional coin. The second answer is that I would not pay a premium simply because it's a plate coin. The two are often hand in hand, however.

aem4162

ok...thank you. how do you know if a particular coin is the one from the pic? there must be coins that are very similar to the ones photographed

JadeRareCoin

how do you know if a particular coin is the one from the pic?

Usually, the coins used for plate photography are the better known examples for the type (but no always). Every coin (especially circulated example) will have some type of mark, toning, rim tick or other characteristic that sets it apart from others of identical type. Kinda like how everybody has different fingerprints. It would be hard to determine if you had a plate coin from a reference on modern coins, such as Sacagawea dollars or Silver Eagles, but it's fairly easy on older coins.

ColonialCoinUnion

<< <i>Well, there's two distinct items contained in your question "Would you pay a premium for an exceptional coin which is featured as a plate coin in the Breen Encyclopedia or other important reference book?"

The first answer is that I will always pay a premium for an exceptional coin. The second answer is that I would not pay a premium simply because it's a plate coin. The two are often hand in hand, however. >>



I agree. I posed my question based on an exceptional plate coin because I thought a lot of people would say they wouldn't have any great interest in a mediocre plate coin - which do exist in Breen's and other references.