Opinions about the Confederate Cent
HC
Posts: 105 ✭✭
I know the Red Book, as well as all price guides, are just guides. But I have been able to acquire some of the more obscure, less liquid and infrequently traded coins for levels that approximate the Red Book prices. However, the Red Book lists the 12 original Confederate cents at $34,000 and I have only seen them offered for $95,000 and $180,000. I believe they last traded publicly at the Ford Sale for levels around $60,000. Are these coins fully valued? Why do they stray so far away from book?
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Comments
1. Given the historical importance of the coin, the coin can easily be argued to be priceless. So why not the higher numbers?
2. There are no other types of coins that allow easy price comparisons. There are no other coins in the series except the Confederate Half, and it's in a completely different (higher) price category.
3. For an unusually long time before the Ford sale, no Confederate Cents came to market. It's easy to see how the Red Book might have lagged behind the true "market". There were no sales so who really knew what the "right" price should be?
Doggedly collecting coins of the Central American Republic.
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<< <i>None of the following are meant to argue that the Confederate Cent is priced too high or too low in the Red Book, but...
1. Given the historical importance of the coin, the coin can easily be argued to be priceless. So why not the higher numbers?
2. There are no other types of coins that allow easy price comparisons. There are no other coins in the series except the Confederate Half, and it's in a completely different (higher) price category.
3. For an unusually long time before the Ford sale, no Confederate Cents came to market. It's easy to see how the Red Book might have lagged behind the true "market". There were no sales so who really knew what the "right" price should be? >>
That's just about right. I couldn't have said it any better. You could call it a priceless piece.
-YN Currently Collecting & Researching Colonial World Coins, Especially Spanish Coins, With a Great Interest in WWII Militaria.
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