Are prices slipping for the Wisconsin error quarter?
RYK
Posts: 35,797 ✭✭✭✭✭
I do not care to argue about whether its is a gouge or a mischievous employee, nor do I care to argue about what the coins are worth. I have no idea what the answer is to either question.
It is my unscientific observation that the price for the coins is slipping, based on what I see on ebay. Am I right or wrong?
It is my unscientific observation that the price for the coins is slipping, based on what I see on ebay. Am I right or wrong?
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Comments
al h.
blue skies!
david
-Bochiman
If at first you don't succeed, then skydiving definitely isn't for you.
-unknown
First POTD 9/19/05!!
man...I need to buy some bank bags and get busy searchin!!
3/1 completed auctions on ebay were: leaf up 48 sold between $157-$255. One down went for $79, but there was no photo. Excepting it, there were 59 down leafs sold @$99-228. 20 sets including both went for 234-563.
Too bad there is no way to "short" them!
Hmm, maybe if I drew up a contract where I promised to deliver a PCGS slabbed set in a particular MS on 1/1/06 for $100, I could auction it off on ebay...
Don
Interesting as well that on 3/1 at least, there were almost as many of the "rarer" up variety as downs.
your kidding....prices are dropping!!!gezz who da thunk it
monsterman
out of rockets ...out of bullets...switching to harsh language
Edited to add: I was talking about the Wisconsin error quarter, SG.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
tbig
That's comparing apples to oranges.
There is no way IMO that the wis quarters are as exciting or dramtic
as the 1955 Doubled die. NO Way No How
And you are surprized? It doesn't take a Sherlock to realize that these were merely an expensive fad. It did however, revive an interest in the state quarters. It shouldn't be long now before CoinVault has these in rolls of "GEM BU" for $2000 a roll.
I'm sure that the mint is ultimately denying the intentional creation of these errors, but in my opinion they noticed a declining interest in the state quarters program and wisely put this error in the public eye and it got overhyped. Voila, the state quarters are once again interesting. Excellent marketing skills by the mint.
I've now seen these coins in person, and they are interesting. It looks like there may have been some intent to create a different variety on at least one of them. Still this is a subset of the State Quarter collection, and as such far from EVERY state quater collector is going to want one. This is especially true if the prices remain high. Interest is going to have to remain high, and the supply will have to prove to be low before some of the prices that I've seen will hold up in the long run.
On the other hand, I bought in the last Long Beach Heritage sale a spectacular 1936(p) Doubled Die Washington Quarter in PCGS-MS63 and labeled "merely" as an error coin (without a PCGS pop report number assigned to it at this point). This coin is 69 years old and is a fairly dramatic doubled die example. NGC does keeps track of these 1936 DDO quarters in their pop report and there have been -14- pieces graded in any grade with only -7- MS coins. Just -7- total coins in Mint State on a 69 year old quarter and the PCGS-MS63 coin hammered at $350! And, then I see MS65 sets of the WI quarters fetching $500-$1000 per set. I have my personal opinion (as everyone does) where true "value" may lie in the Washington variety quarter series. And, I did pick up the MS67 Low Leaf WI, as unlike, say, the 1936 DDO quarter, the WI quarters may become "required" Registry coins in the (near) future. I have spoken to a few fellow collectors of variety quarters and they have also picked up MS65 and better examples of the WI quarters already "to cover their bases" as I did. The "power" of the registry on the future of the WI quarters may be a significant factor down the road IMHO.
Wondercoin.
<< <i>
I'm sure that the mint is ultimately denying the intentional creation of these errors, but in my opinion they noticed a declining interest in the state quarters program and wisely put this error in the public eye and it got overhyped. Voila, the state quarters are once again interesting. Excellent marketing skills by the mint. >>
The Mint has had nothing to do with the discovery or marketing of these coins, it was all started by a handful of collectors and dealers in the southwest.
FYI, some people floated a similar theory when the first Sacagawea / State Quarter mules appeared. The Mint didn't exactly appreciate the interest those created, and eventually they prosecuted those responsible for their creation to the fullest extent of the law. Now I'm not impling at all that the up- and down-leaf quarters were created illegally, just that the Mint is far too concerned with creating a product of uniformly excellent quality to intentionally create errors or varieties. Heck, if quality weren't a concern they could make millions just by selling misstruck coins to collectors by the bag instead of sending them off to the waffle presses as scrap.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
<< <i>The "power" of the registry on the future of the WI quarters may be a significant factor down the road IMHO. >>
Yep. In the old days a variety had to get into the Red Book in order to worth very much. Today it's the Registries.
I agree with a previous post. I think that is a very good chance that the mint system created these varieties to spruce up interest in the State Quarter program. It was good marketing.
Bill: I agree with you. But, to some extent, I believe PCGS makes a decision to include a coin in their Registry based upon whether the coin is already IN THE REDBOOK. For example, at this point, I believe the required silver varieties in the Registry are a mirror image of the coins showing in the Redbook (at least from the 2003 Red Book edition I just grabbed off the shelf). Yet, neat quarter varieties such as the 1936 DDO quarter or even the TY B Reverses are neither in the Red Book nor the Registry. AND, BEST I KNOW, DEDICATED COLLECTORS OF THE SERIES ARE NOT PUSHING FOR THEIR INCLUSION EITHER. WHY? BECAUSE CHERRY-PICKING WOULD SIMPLY BECOME MORE EXPENSIVE. If a WI error quarter in MS can sell for hundreds of dollars with a known availablity of possibly 1000's of coins, what would the 1936 DDO quarter be worth if it got heavily "promoted"? I suspect more than $350 hammer
Wondercoin
(and these WILL be in the Red Book)
1. Heads/Tails roll with either type 1 or 2 error at one end showining tails
2. Tails/Tails roll with a type 1 error on one end and a type 2 error on the other, obviously showing tails on both ends.
Jerry
<< <i>The registry has nothing to do with the price of these. It has to do with the national exposure they have received. There have been thousands of them found, they are anything but rare. There is no comparison to a 36 DDO in any way. These are like the '95 DDO cent, and the prices should slip just as they did on the cent. I suspect they will always be popular due to the press they received.
(and these WILL be in the Red Book) >>
I agree 100% with your comparison to the '95 DDO. However, I do not agree with your comment about their being in the Red Book. Right now I have heard (and I believe I also read in Coin World) that they will be included as a footnote, similar to the way the Henning counterfeit 1944 nickels and the large/small S varieties of 1941 are handled. That's a far cry from declaring them a "Red Book variety".
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
<< <i>
<< <i>The registry has nothing to do with the price of these. It has to do with the national exposure they have received. There have been thousands of them found, they are anything but rare. There is no comparison to a 36 DDO in any way. These are like the '95 DDO cent, and the prices should slip just as they did on the cent. I suspect they will always be popular due to the press they received.
(and these WILL be in the Red Book) >>
I agree 100% with your comparison to the '95 DDO. However, I do not agree with your comment about their being in the Red Book. Right now I have heard (and I believe I also read in Coin World) that they will be included as a footnote, similar to the way the Henning counterfeit 1944 nickels and the large/small S varieties of 1941 are handled. That's a far cry from declaring them a "Red Book variety".
Sean Reynolds >>
I thought I read they would be included in the Red Book, maybe I remember it wrong.
I guess those with the error 1/4's are finding it hard to swallow that the prices are coming down, and they might not make the killing they were holding out for.
<< <i>Funny, I mentioned this the other day and the reaction i got was like i was nuts.
I guess those with the error 1/4's are finding it hard to swallow that the prices are coming down, and they might not make the killing they were holding out for.
Yes, it's interesting and kind of sad. Whenever there is suggestion that a modern coin might have sold for more money than it is worth, or if someone suggests that caution might be in order BEFORE one pays a high price for something, certain people on this board attack the person, often personally, who expresses those opinions.
What is it about those who sell modern coins for high prices that makes them so sensitive? Why do they have to circle the wagons around everything? A REAL professional should have to guts to be something other than be a cheerleader for every promotion that comes down the pike. It would certainly improve their credibility.
Whom would you rather believe? Would you rather take advice from a person who presents the pros and cons of a prospective purchase, or someone who constantly claims that you can never pay too much for anything? Would you sooner take advice from someone who is still around after the market for something has tanked, or someone who is only around when everything is hunky dory? The new collectors would do well to ponder this question.
<< <i>
<< <i>Funny, I mentioned this the other day and the reaction i got was like i was nuts.
I guess those with the error 1/4's are finding it hard to swallow that the prices are coming down, and they might not make the killing they were holding out for.
Yes, it's interesting and kind of sad. Whenever there is suggestion that a modern coin might have sold for more money than it is worth, or if someone suggests that caution might be in order BEFORE one pays a high price for something, certain people on this board attack the person, often personally, who expresses those opinions.
What is it about those who sell modern coins for high prices that makes them so sensitive? Why do they have to circle the wagons around everything? A REAL professional should have to guts to be something other than be a cheerleader for every promotion that comes down the pike. It would certainly improve their credibility.
Whom would you rather believe? Would you rather take advice from a person who presents the pros and cons of a prospective purchase, or someone who constantly claims that you can never pay too much for anything? Would you sooner take advice from someone who is still around after the market for something has tanked, or someone who is only around when everything is hunky dory? The new collectors would do well to ponder this question. >>
Perhaps you're reading a different thread. There are no posts in this one suggesting the prices
of the errors were not too high. There were a couple neutral posts and there was one suggesting
rolls might be a good value but the rest all were against any large premium for these coins.
From this lack of support you then determine that modern collectors and dealers are overly sensitive
and lack courage. You then claim that those who like moderns believe that no price can be too high
and that it is classic collectors who are under personal attack for being out of step.
Interesting.
<< <i>I thought I read they would be included in the Red Book, maybe I remember it wrong. >>
You're both right - they will be in the Red Book, but only as a footnote and not a separate line item.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Checking out the rarity before you pay a grand for something seems reasonable to me.
how true i know someone first hand this happened to on these boards