Crazy Money for Barber Halves

Cratylus

Did anybody else besides me follow the complete set of midgrade Barber Halves that was just auctioned off on Ebay? Of the 73 coins being offered, at most only a dozen were original and uncleaned. The rest were obviously wiped, cleaned, scratched, and otherwise junky and shiny (polished) looking coins. Sorry to offend the seller if he's a member here, I'm just calling them like I see them. I did manage to win one of the original looking pieces for a slightly inflated price. Nonetheless, the entire set (auctioned off coin by coin) went for almost $15,600! Has the coin collecting crowd on Ebay just gone nuts??? What is the fascination with obvious problem coins???

What's really sad is that if I were to break up my complete set (which looks WORLDS better than the stuff that just sold), I'd probably make less than what this guy just made.

MFH

Cary,

Missed the ebay group you mentioned. Nothing surprises me anymore about what sells on ebay. Now, don't discount the Barbers new level of pricing; your set ( which most of us know is very choice ) has appreciated far beyond your wildest dreams, but that realization must not have sunk in yet. I know you are always looking for original Barber halves, and I'm sure you've noticed that the new coins you're buying are costing you double what they did last year.

boyhowdy

I see the same thing in Barber dimes. This is my theory --
Most collectors of circulated Barbers focus on level of detail
when surfing the bay. They know that 7 letters of LIBERTY is
Fine and that full rims are G+. I think they are more interested in filling a hole
with quantity rather than quality. If most of the coins they see have some
sort of problem they become used to it. That's why they bid real strong for
run of the mill coins that don't have a problem. To them that is PQ.

I was the same way and I bet most advanced collectors went through that stage before
they saw enough coins to develop an educated eye. I've got a 1869 IHC I bought 30
years ago because I was thrilled with the date. Today I cringe when I look at it.

Steve

Crackout

I picked up a Barber Half in Fine condition last week at a coin shop - not because I particularly collect them, but because I saw some value in the coin. Like most shops, he had a MULTITUDE of shiny, beat-up, problem coins. And the owner almost didn't believe me when I pointed to the coin I wanted to see, because in his words "it looks kinda dark, don't it?".

But it was the only original piece he had, and it was priced just like all the other coins in his case - Red Book.

So I am happy with what I got, but it made me think that everyone else is looking for something else.

morganbarber

My theory (with no scientific data whatsoever to back it up), Is that there are avid collectors who live in the boondocks and who will pay a serious premium for a coin that they don't have to drive two hours to Chicago, or Raleigh, or Little Rock to buy. I have several coin shops available to me, and for a serious purchase, I would want to see the coin in hand. Also, I live in the Baltimore area and I believe that show is like the fourth largest in the nation. I don't pay a premium for Ebay coins, but I suspect that they may long draw premiums in many instances.

Dave99B

Cary –

Yes, I did notice them, and looked at them all with great anticipation. Most, as you say, were not that nice, so I passed on them. But I had no idea that they brought that much in total. Amazing!

I did watch the tougher dates getting chased hard, problems or not. Seems as though collectors putting together complete sets will really “reach” when it comes to the tough dates. Not me. I just wait until Tyler upgrades. Of course, he has a strong following on FeeBay, and his “junk” goes for 3x Greysheet.

Amazing…

Dave

PutTogether

<< <i>I see the same thing in Barber dimes. This is my theory --
Most collectors of circulated Barbers focus on level of detail
when surfing the bay. They know that 7 letters of LIBERTY is
Fine and that full rims are G+. I think they are more interested in filling a hole
with quantity rather than quality. If most of the coins they see have some
sort of problem they become used to it. That's why they bid real strong for
run of the mill coins that don't have a problem. To them that is PQ.

I was the same way and I bet most advanced collectors went through that stage before
they saw enough coins to develop an educated eye. I've got a 1869 IHC I bought 30
years ago because I was thrilled with the date. Today I cringe when I look at it.

Steve >>




Steve, I think you nailed it.

greghansen

I'm new to the series, having recently decided to put together an original VF album set, so yes I did see the auction and I'm glad to hear more experienced collectors of the series say most of those coins had problems...as I did not like most of what I saw. I'm hoping a reasonable goal is to put a set together over a 2 year period.

ARCO

I saw them also, and of the whole set only two were of interest to me and the remainder appeared problematic, and/or cleaned. I liked the 1910 in XF and the 1906-O in VF35/XF.

Barbers are very popular in the midgrade, and if not completely dipped out and ugly they still command fairly healthy premiums from bidders. I have seen a number of complete sets of Barber halves and all but the rarest of collectors has cleaned Barbers either as a large percentage or as a majority of the collection.

I think that is what really attracted me to the series. They are hard enough to find in mid-grade as it is, but finding them wholly original and with great appeal is very difficult for all but a half dozen of the most common dates. That is what makes the series so challenging and so rewarding to complete. An all original set CANNOT be completed by anyone except the long term dedicated collector. Big money won't do it, nor will connections to the biggest dealers across the country. TIME is what you must have to do the set original, matched and with nice eye appeal.

A certain, undying fanaticism doesn't hurt either.

Tyler

OldUncleUhUh

Okay, I admit it, I collect circulated Barber dimes, quarters, and half dollars. It is a collection I will be quietly working on for the rest of my life. The requirements for me to put a coin in any of the three collections are very strict: all coins should be full-rim specimens, Good+ to AU or so, all coins are original and essentially problem-free, no rim bruises, no hairlines from old cleanings, no obvious scratches, and nice medium gray to gray-gold. I always pass on a needed date with a problem even if it is at a bargain price...there really are few bargains in numismatics, and that sort of "bargain" has been forever banned from my collection (unless, of course, I'm at a flea market and a nice problem-free Barber coin is available at a nonsense price because the person on the other side of the table has no idea what it is or its true value, but that might not really constitute a "bargain" in the scheme of this thread). Anyway, even circ type coins can be original and problem-free (I teach this concept at the ANA Summer Seminar every year), and I enjoy the fact that sometimes several coin shows go by before I even spend a cent on a nice problem-free Barber, as the thrill of the chase is more stimulating to me than the actual purchase...you're all right, there are many more circ pieces of ca-ca out there, even for the common dates, than there are problem-free original pieces! Perhaps the most blatant example of crapola circ coins are the key dates in the Barber series...for instance, often I'll see a 1901-S quarter or some other such date in a G-6 holder, either service, with a nearly slick reverse, etc...that'll be the day I step up and pay tons of money for an AG-3 coin in a G-6 holder, but that's just me! Anyway. long live circ Barber material and those who enjoy the pursuit!

TheRaven

I have started work in a VG Half Set with plans on the Quarters (VG also) and Dimes (Grade TBD) to follow after I get a few things completed.

Finding nice coins is much more difficult then I figured, but it is fun and relaxing to do.....

Barberman55

I looked at the set on Ebay, of circ Barber halves, right before I left for a couple of days of vacation. Being away, would have made it very hard to followup on any potential Ebay bids anyway. I too, thought that the majority of the coins were not original, and I really didn't want to get involved, with bidding on raw coins, on Ebay.

I can't think of the last coin I bid on, and won, on Ebay. On the rare occasion, that I bid on a choice coin on Ebay, (Tyler's 1896-o Barber half in VF-30 was my last), bids are going thru the roof. I was the under bidder, on Tyler's coin, and I have no clue as to how much it would have taken to snag that beauty. In many instances, IMO, prices paid for coins, won on Ebay, are much higher, than similar coins offered by reputable dealers (thru mail order or at shows).

morganbarber

Raven, I think it is challenging, fun and affordable to try to build a set of Barber halves. I try to find nice, original coins in close to F, with prices not too far off VG.