Your opinion-Most overrated key/semi-key date
ChangeInHistory
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New to the boards---been lurking and learning for about 2 years or so. Thanks to all of you for your observations and educational posts as they have been very helpful.
This question came up in a non-credit coin class I taught at a local community college. What key or semi-key dates are overrated and are a bit too expensive in relation to how often you see them. It seems every dealer has 1-2 1927-S Quarters in their case, yet they are pretty expensive---especially when you get into the F-15 and better grades. On top of that it can be a tough series to grade.
What coins fall into that catagory in your opinion?
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Comments
common in unc.
Common
VERY COMMON
Did I say common?
1895 Morgan proof.
<< <i>22 No D. Filled die error, big deal... >>
The real 22 No D isn't a filled die.
There were 10 of those made, but only 5 1885s. What good is paying a ton of money to own the 1884 if you can't get an 1885? So since only 5 complete sets can be assembled, it would seem that at any given point in time there would be 5 extra 1884s kicking around that no one really needs.
CG
Interesting perspective. I am not sure I agree, but...
Last I checked, the combined PCGS/NGC pop for the 1884 Trade was 17.
AND
At the ANA last summer, I got to hold one at the Legend table.
<< <i>Re: 1884 Trade dollar
Last I checked, the combined PCGS/NGC pop for the 1884 Trade was 17.
>>
One coin resubmitted 16 times?
Ken
(Not including those with an added D
1907 High Relief Double Eagle
1916-d Mercury Dime
1909-s VDB
1895 Morgan Dollar
1937-d 3 Leg Buffalo
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
I like your list. It spans different collecting interests and price points and is dead-on.
How about doing #6 through #10 for us?
-Daniel
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
1909-s vdb
1856 Flying eagle cent
1895 Morgan
If a varaition is listed in the Red Book, it gains immediate legitimacy. If there is a slot for it in a Whitman album, it becomes a bonafide nescesity for completing the series. If it has a VAM number, it commands a premium. And now, with TPGS's, pop-reports, and registries, whole new levels of collecting have come into existance. When I step back from it all, I find it interesting to that so much of numismatics revolves around building collections that conform to these types of publications and the precedents they set, when as anyone who truly specializes in a particular issue can attest to, there are true rarities that make all key dates look common by comparrison.
This is not to say that just because key dates are relatively common that they are overvalued - as we all know, a key componant of value is demand, and there are plenty of penny collectors out there willing to shell out big bucks for one of the 5,500+ 1909S VDBs certified by PCGS and NGC alone. (By the way, there are at least 2,000 1916-D dimes, and 1,250 1916 SLQs accounted for by PCGS and NGC.) So I while none of these issues may be considered genuinely rare, another way to look at it, is to recognize that neither are those collectors who need them for their sets.
I collect uncirculated type coins by year - and one of the years I am putting together is 1900. For that series, a key is the dime with less than 300 accounted for by PCGS / NGC combined. When they come up for sale, which is almost never, they go for between $75 and $150 in MS60 to MS63. Go figure.
>>>My Collection
DNADave, you beat me to this one.
Extra leaf Wisconsin Quarters. Maybe not key but definately overrated.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
1855-0, 1855-s, 1878-s, 1891-0
roadrunner
Next the 1909 SVDB, but only in uncirculated--it's sort of neat in lower grades, the lower the better!
The 1913 Barber Nickels--overrated is the wrong word for just 5-- but too overpriced compared to other neat raritys? Yes!
1893S Morgan key--somewhat uncommon because many are being messed with, but way overpriced recently-and NOT RARE!
1932D Washington Quarter in MS-64--Are there less than 4 in ANY auction???
The question came up in class and I was trying to explain rarity, scarcity and so forth. A few people were knowledgable enough to bring up PCGS/NGC population reports. I explained how crackouts and resubmissions happen and why the pop reports are only so reliable. One of the first things I told them was "go by how often you see it." While mintage figures and pop reports give us a reasonable sense of rarity, they are much like price guides--they are just guides, not absolute values. The 'how often do you see it' approach also ties into the 'look at 1000's of coins' and 'specializing in an area' approaches to collecting.
I love what Artist brought up with the Redbook and album makers. (This should probably be my next post.) They really have a huge voice in the rarity/scarcity and supply/demand issue. I have a collection of F/VF Standing Lib Quarters and I'm thankful they didn't have a portal for the 1918/17. The 1916 will be enough! I also collect seated lib dimes and understand another Artist point. I have some G-VG semi-keys with mintages lower than the 1909 S VDB, the 1916-D dime, blah blah blah.....that go for a fraction of what those coins go for. It's demand. Location, location, location????....no, it's demand, demand, demand! It will be interseting to see how, or if, the available specialty books increase the demand. And how long will it take....???
Thanks again for the welcomes and insights.
My thought went to the 1916-D Dime as you always seen these at shows in some quantity.
I would also say the 1909-S-VDB is always available.
The only thing I would say about the 1895 $1 is that a large number of people don't consider that part of there Morgan Dollar set but would jump at the chance to purchase one if they could, so I would disagree about that one.
<< <i>
Yes, I am thinking of one in particular
FrederickCoinClub
<< <i>I, like everyone, agree that the 1909S VDB is one of the over rated, over priced coins. Odd that no one mentioned the famous 1955 double die Lincoln Cent. That's the only one left for me to complete at least one of 11 Lincoln Cent Whitman Classic Blue Binders. Thoes people just have to put a slot in the book for things like the 22 without a D and the 72 double die also. I just can not figure out why thoes people do that. There is a ton of double dies of almost every year of Lincoln Cents. If Whitman ever buys that book Looking Trough Lincolns by coppercoins, they'll see lots and lots and lots of double dies and probably make their next coin book 100 pages full of slots that no one will ever get. I still can't believe they started to put a slot for all the Proofs. Whitman is trying to kill the coin collecting hobby for young kids that will never be able to find a proof, double die, missing mint mark, etc. My son stopped collecting as soon as he figured out there is little to no chance of ever completing a book with all that dumb stuff in it. I don't know if you know of that Lincoln book but if your going to have another class, check out the coppercoins web site for tons of information. Back to your question though and away from my irritation with Whitmans Books but also add in the 3 legged Buffalo Nickel. Another coin that should not be in a coin holder book. >>
I think the 1955 is popular because the doubling is so dramatic. No other Lincoln double die compares to it. It's still relatively inexpensive for a coin estimated to have a mintage of 20,000. Compare that to the lowest official mintage 1909-S VDB, which is over 400,000. The 1955 isn't that much more expensive, although it has been moving up lately.
<< <i>The 1885 Proof Liberty Nickel. It wouldn't even be a key if it weren't for the rarity of the uncirculated coin. >>
The same is true for 1895 proof dimes and Morgan dollars, given the scarcity of nice business strikes for 1895 dimes from any mint.
I agree with many who have chimed in before me that the 1909-S VDB cent,1931-S cent, low grade 1916-D dimes, and rolls of 1950-D nickels are overpriced. (Yet it's fun findind a 1950-D nickel in Fine or less). AG 1901-S quarters might belong on this list, too. Now that I think of it, any silver 1901-S coin seems overrated to me.
Taken from coinfacts.com
"In fact, the 1909-S V.D.B. Penny has long been considered one of the key dates in the series, filling the dreams of collectors young and old. While the mintage of 484,000 may seem high compared to many other American rarities, one must understand that there are millions of people who collect Lincoln Head Cents. There are simply not enough 1909-S VDB Pennies to satisfy all of the collector demand.
The finest Brown examples graded by PCGS are 2 MS-66BN's. The finest Red-Brown examples graded by PCGS are 16 MS-66RB's. The finest Red examples graded by PCGS are 9 MS-67RD's."
<< <i>
"In fact, the 1909-S V.D.B. Penny has long been considered one of the key dates in the series, filling the dreams of collectors young and old. While the mintage of 484,000 may seem high compared to many other American rarities, one must understand that there are millions of people who collect Lincoln Head Cents. There are simply not enough 1909-S VDB Pennies to satisfy all of the collector demand.
>>
Some people consider the VDB's to be part of a type set also. There
are lots of collectors of first year of issue and some collectors who con-
centrate on unusual rarities. These coins simply enjoy more demand
than many similar issues.
<< <i>22 No D. Filled die error, big deal... >>
It's actually a die polish variety, but I agree that its hyped
and that it shouldn't be required for a real set of Lincolns.
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