The FUN Show: Mercury Dimes, and other FUN facts

marcmoish

I was able to peel away from the office for a day and a half of FUN adventure - first FUN show actually as Baltimore is so easy to get to for me - but so much FUN hype I guess brings out the unknown

I was thrilled to examine first hand and up close, so many of the Gold Rush & Hugon coins. The 1833 $5 gold stands out as one of the thrills. In hand this magnificant piece is a monster - amazing and it realized just shy of $1 mil!!!

The 1894-S Barber dime, wow is the word - in hand gorgous and what a super preserved rarity - Laura won that dime for one lucky client. So what if the cost is over $1 mil.... Two other lots that really stood out for me at least were an 1840 half dime in 67 just totally wild and original ($10K), and an 1833 Bust dime in MS67 (NGC) also totally out of this world (almost $22K).

Mercury dimes had a somewhat weak representation - nothing totally stood out - seems the better stuff with super eye appeal is off the market or just not available. Most of the Merc's imho were typical and hohum stuff.
The 24-S in Platinum was atrocious graded 66FB (NGC) I don't recall that dime selling altogether. There was a super 1918 in 66FB, a 30-S in 67FB that shoulda been in a 66FB holder and another example in 66FB with obvious wash stains. 1919 in 67FB was really super white original and expensive. I was high bidder (yup internet I had no patience to sit thru the sale ) on 16-S in 66FB great example - super preservation and skin 'n all - as I knew this example I won was almost double the $ from the OTHER 16-S in the sale which had many scuff marks/nicks on the neck although it did exhibit nicely toned surfaces and eye appeal. You gotta see the coin - buy the coin not the holder - have a trained eye if possible lookee for you - is so applicable.

There were TWO 1919-D dimes one in 64FB and one in 65FB. I have no idea why - but the 64FB was in the Platinum sale while the much better example was in the regular catalog/session tucked away and sold for $29,900, still!! The difference between the two where many miles. While the Platinum example sold for $6325. it was nothing compared to a true 64FB and lifeless. The 65FB however was a beautiful example for the grade - same die cracks as my example - a couple of ticks on fasces though and possibly traces of a VERY old wash imho - really sweet though and worth every penny.
In protest I took my 19-D 64FB (which I brought along for company ) for a try at regrade which more than MATCHED the 65FB and was deeply dissapointed when it came back the same 64FB. Although I've always advocated not playing into the crackout or pay pcgs money routine....I fell in and felt what so many have and lost too. A lesson learnt and I will continue to practice my abstinance
SO while I've seen about SEVEN examples up close in 64FB since I purchased my example (from Mike Printz) and they don't even come close - I will resign to the fact that I own a 65FB example that is entombed in a 64FB slab. Buy the coin and not the holder is so correct.

Not much Merc stuff on the floor - many many NGC holders though - not many key grades or dates though. Almost no 16-D's altogether other than the 2-3 examples "still" available between EF to AU grades, you know who you are, the dimes either suck, way overgraded or are just not worth what you're asking for them. Ok I feel better. Oh, and no I will not be forced to buy just any example for my set - if need be - I'll buy a G-VG example just for the heck of it.

Met many great folks - sorry I forgot who ... (CRS kicks in ) but you know who you are and thanks for just being you .

Marc


edited yet again for typos

fcloud

Marc, sounds like a great time. Thanks for the info.

mercurydimeguy

Marc,

Thanks for giving us the Merc details. Much appreciated.

Mike.

marcmoish

your welcome guys ..... btw the 30-S you've got Mike totally puts those I just examined to shame. You dime is probably my twin

other observations to add; not sure how many got a thrill to see the 1913 nickel .... not sure if it was just me but my heart did not even jump a notch. When I took a peek I asked myself.... SO? Same with the Stella's etc.
A thrill is to hold and examine any of the previous posts mentioned items as an example, at least for me

I admit there was electricity in the air when the Brasher's went for $1mil+ and $2+ mil territory respectively.

PCGS was very busy with triple the size booths then NGC who were also quite busy - darn, when will they change the stupid white concrete slabs there is nothing as annoying as trying to examine a small coin in those slabs. Dumb imho.
I gotta admit though while I saw sooo much crap in NGC plastic, either in the sales or on the floor - I saw equal amounts of PCGS plastic exhibiting deformed coins, overgraded examples and obnoxious dates begging for attention (read; "take me") A true eye opener indeed. Interesting how a bad experience with one entity can usually open ones eyes....to many truths.


Marc

grip

Marc;
Thanks! good reading.
Al

Bear

Listen Marc, why would I want to buy a dime for 20,000

when I can buy a half dollar for the same money? At least

my way, would give me and extra 40 cents. By the way, nice report.

Someone has to take care of those poor little puny dimes.

marcmoish

hmm .40 cents in hand - why did I not think of that angle

I can always count on the sage, the bear himself

puny little dimes huh? sure remember when jelly donuts were a dime??

take care............


Marc








T/U Al

PQpeace

Thanks Mark for the good post.

Here is my take on Merc dimes after getting back into them after a few years in Morgans.

Almost all dealers don't want to mess with Mercs.
They just are not the soup of the day now.
There were only 2 of us..Printz and pqdollars that had any major mercs for sale.

I had to put Dollars on display rather than mercs as we sold very high 6 figures in Dollars !
We need a larger table for sure.


Because they are so hard to find at shows,they go for crazy money in auctions.

I need to get my dimes sorted,and pust them..as they WILL get hot this year.

There are alot of very ugly expensive dimes out there.

Stay away from them,and pay more for eye appeal if you can.

More later,
Larry

Cocoinut

Good report, Marc. I wish I'd known you were going to be there for Platinum night. I viewed auction lots the Sunday before they were sold, and saw many that I would have liked, but there weren't any Mercs that were noteworthy. IDue to wqrk and having company from out of town visiting, I wasn't able to spend as much time at the auctions and on the bourse as I would have liked, but I was there for platinum night, the opening of the bourse floor Thursday morning, and all day Friday, with a break to go to the PCGS Registry luncheon (where Dave Bowers and David Hall came to sit at the same table).

I did enjoy seeing the Stellas sell. I remember being intrigued by the odd denomination and the low mintage figures when I first bought the Red Book back in the early 1960's, and being able to hold 2 of them at the same time when I worked for a dealer in the early '80's. I love seeing any of the high grade pre-1840 gold coins, but I'll never own any of them. Prior to that collection, the Hugon Barbers brought respectable prices, but not moon money.

I had really hoped to buy a 1921-P Mercury last week, but the 2 MS64FB's that I saw in PCGS holders were dull and not very attractive. There was another in 65FB in an NGC holder, but I didn't want to take a chance on it not crossing. I saw several AU 1916-D's, and one in MS63NB; none if the VF-EF range. Instead, I picked up a some type coins and a couple of 20th century pieces for Registry sets.

It was a good show, and the dealers that I spoke with all seemed to be selling a fair number of coins. Maybe there will be a '21-P Merc at the Palm Beach show in March.

Jim

marcmoish

There were only 2 of us..Printz and pqdollars that had any major mercs for sale.

that is correct - Mike Printz reported a shortage of great merc dimes i.e. super eye appeal and all especially the teens thru early 30's. While there are many around as we all know it's whats in the slab and not what it says outside


Jim,

I recall the dealer near me at viewing also mentioning more than just a few specoifically wanted to hold the SEVEN stellas in one shot ( with the Brashers ) many were given that chance to hold a cool couple of million dollars worth within those minutes.

The PCGS '21's were indeed as you stated - the NGC 65FB I truly do not recall - however after my dissapoiting fiasco with PCGS I frankly have had a turn to reality in my mind regarding the PCGS v/s NGC thingy. I may now just decide to list my set over in sleepy hollow too. Time will tell, but this FUN visit was a great time and eye opener for me as well.

Marc

marcmoish

Almost all dealers don't want to mess with Mercs.

Larry,

care to elaborate? why?

fussy clients? gradeflation? Lucy?

PQpeace

Dealers don't want to mess with Mercs because they take up space in their cases,and they can make more money with other coins that take up the same space.
Mercs are not popular now,but they will be soon again.
Keep watching my bids as I try to find nice coins.
Prices will be going up soon
Larry

marcmoish

Mercs are not popular now,but they will be soon again.

I assume they are not "hot" at this time as you say - however I must admit there is lots of competition when a nicer or preserved example shows up. For the longest time now there has always been more sets of eyes looking or bidding on the same dimes as I.

I also tend to differ with that train of thought - unless I am mistaken - in the FB registry at PCGS for example there is close to 100 sets that are listed. I would think many do like the mercs therefore, and not sure what makes a denomination/series hot. I never did get that one merc's have been extremely popular for as long as I can remember.

Does a series get HOT when Laura and Orange pants join the fray?

Marc

marcmoish

any other MERC NEWS of note at this past FUN??

any other comments? dumb or bright?


before this thread goes to oblivion

mercurydimeguy

Well, this might not be FUN related but it seems as though a number of Merc's traded hands recently because there are a few dozen new more-key-date Merc's for sale between eBay, and dealers' website, etc.

Also, a large # of 68FB's out there now...yet the prices for these are still high and going higher. Wouldn't it make sense that as the Pop's for these climb in to mid to high double digits their price should go down, and wouldn't imply that prices on 67FB's should go down as a result as well -- neither appears to be happening -- which is good news I guess if you own a lot of these

marcmoish

Mike,

my take on that is the 67's are awfully nice as it is - in merc's at least I can tell you I have not been overly fond of the 68's I've seen. I've made a decision long ago to not buy anything over 67FB. I believe more than just a few mercateers adhere to that unwritten rule too
Typically the 67's I own are the top 5% of the grade - (at least I'd like to think that ). I don't believe the 67's will go down in price much. IMHO many know the inflated #'s are crackouts and what have you - I think Ken has a better read on that issue if I recall he has a better take on earlier population figures v/s recent.......

The 68's actually are the ones that have gone down in value - if you study it cloesly you'll see what I mean.

mercurydimeguy

This is a bit off-topic, but in the spirit of keeping this Merc thread going...where are the PCGS 1945 FB's.

Looking at the Pop report there are 104 of them out there yet I've seen maybe 1 or 2 for sale all last year. The Pop on the 45 FB is comparable to the Pop on some of the other tougher Merc's -- the others seem to be available (thinly...but available) but the 45 FB seems to not show it's face.

What's your opinion and/or thoughts on this? Are they stashed away somewhere/is someone hording them/is the Pop off?

fcloud

1945 full band coins. I know, I'll never have one. They are rare indeed. The numbers may only seem high in the pop reports. You can find other years in raw coins, but I don't think you see too many if any 1945 fb raw.

marcmoish

This is a bit off-topic, but in the spirit of keeping this Merc thread going...where are the PCGS 1945 FB's.

thanks Mike - not OT - not to worry - the '45's are downright RARE in true full bands. There are from time to time nice examples available but truly far and in between a number of mediocre pieces. The POP I suspect is doubled due to resubmissions and crack outs etc. So if you see the '45 in 65FB for example I'd say there are actually only 15 pieces of the 32 or something shown if not less....as for the 66FB way less probably 3-4 tops. Ditto for the 64FB likely 20 pieces true FB. You can do a search under 1945 in U.S. I had a thread half a year or more with some figures........

Tony,

you can say that again - all the '45's have been sourced and pulled at for years now - I hardly rather I've yet to see a TRUE '45 full bands in the raw being sold by a reputable seller

Marc