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Barber keys - hotter than ever
Barberman55
Posts: 1,605 ✭
I just looked at the HLRC website, and the PCGS, AU-55, 1904-s Barber Half, that was listed for $7,500.00, has apparantly been sold, because it's no longer listed. I also see a nice, PCGS, VG-8, 1913-s Barber quarter, currently listed on Ebay, up to about $2,650.00, with about a 1/2 hour to go in the auction.
Every time I think prices on key date, circulated Barbers, can't get any higher, I get surprised once again. Current prices can make it very tempting to unload a key or two, and take advantage of the super hot Barber market. The only problem with this strategy.......you would have to redirect those funds into other areas of the coin market, or, hope that the Barber key date market cools off, where you could buy back those same keys at a cheaper price (highly unlikely).
What was once an overlooked area of numismatics, where prices were stagnant, has turned into one of the hottest, most challenging and competitive areas of numismatics.
Every time I think prices on key date, circulated Barbers, can't get any higher, I get surprised once again. Current prices can make it very tempting to unload a key or two, and take advantage of the super hot Barber market. The only problem with this strategy.......you would have to redirect those funds into other areas of the coin market, or, hope that the Barber key date market cools off, where you could buy back those same keys at a cheaper price (highly unlikely).
What was once an overlooked area of numismatics, where prices were stagnant, has turned into one of the hottest, most challenging and competitive areas of numismatics.
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My first key date Barber half was the 1904-S in XF. It was offered to me at a mindblowing $750.00. I couldn't believe I was paying so much for one coin. Now, if I could find one for $750.00 I would celebrate my good fortune.
Tyler
Was the 1904-s, XF, Barber Half, that you are referring too, the one which you bought from Randy Holder and had the image posted recently? That was the nicest XF, 1904-s, I have ever seen, (not that I have seen all that many in XF grade).
You're right, alot more MS Barbers are hitting the market, some AU's too. But still, very few hi VF to XF grade, certified or raw, key date Barbers, are available. Of course, tons of cleaned junk is always readily available......including some cleaned Barbers in TPG service holders.
Connor Numismatics Website
With the 1904-S I wasn't so lucky and I do not know who owns it now. Luckily I found another nearly as nice. PCGS called it a VF35, but it is borderline XF, and it only cost me $450.00!!
Tyler
There is no stopping this date in AU or better.
I have owned a raw AU 50, PCGS 63, NGC 65 and finally the Eliasberg PCGS 66. I have doubled (almost) my cost on sale of all the purchases, so far.
I probably will not do as well with the 66, as it was purchased only last year. But I may.
So it doesn't surprise us that the latest sale( PCGS AU 55 ) was in the $7000 range.
When I first started buying the high end halves, in the mid-nineties, semi-keys in 66 were 4000, and 67's were 7000. Bid on the 96-O in 64 was less than 5000, as was the 01-S. It had to take off , because the prices were just too cheap. And in many dates today, they still are.
And I totally appreciate the circ collectors of this difficult series. I know I would still be looking for the right AU 58 in several dates if I had chosen that route.As it was, it took me 10 years to complete the series in Gem or better.
Good hunting
I don't see a "cool off" coming any time soon. It seems as though the word's out on the Barbers.
What I find really annoying is spotting a nice raw VF or XF common date Barber in choice, unmolested condition, hidden way down in the corner a dealer's case, with a price 3X greysheet. The poor thing is almost buried under hundreds of MS64 PCGS and NGC Morgan dollars. You ask to see it, and the dealer, between bites of his double-cheeseburger mumbles, "I'm pretty firm on that price". Translation: "I don't know jack-$hit about Barbers, in fact I think they’re ugly, but I do know they don't come like that very often".
Usually I show him who’s boss, i.e. I make it around the bourse floor at least three times before I come crawling back, coughing up the 3X book.
Dave
Dave
<< <i>When I first started buying the high end halves, in the mid-nineties, semi-keys in 66 were 4000, and 67's were 7000. Bid on the 96-O in 64 was less than 5000, as was the 01-S. It had to take off , because the prices were just too cheap. And in many dates today, they still are. >>
I remember a seller on Ebay five years ago who was selling two 1896-O Barber halves graded by NGC. One was poorly struck (a 62 I believe) and the other was a frosty looking 64 with a weaker strike, but not terrible. The 64 had a reserve around the $5,000 mark, and neither coin sold. Come to think of it I also remember the nicest ANACS graded F15 1913-S Barber quarter that had a BIN price of $1750.00 and there were no takers.
As for the difficulty finding the Barber halves in Gem or better, factoring strike and eye appeal, it is probably one of the ultimate challenges in numismatics...and it is a challenge that does not come cheap!
Tyler
Anybody have any suggestions?
I'll post #10 to make the split for the over/under
Every time I think prices on key date, circulated Barbers, can't get any higher, I get surprised once again. Current prices can make it very tempting to unload a key or two, and take advantage of the super hot Barber market. The only problem with this strategy.......you would have to redirect those funds into other areas of the coin market, or, hope that the Barber key date market cools off, where you could buy back those same keys at a cheaper price (highly unlikely).
Every time I think I know how to place a winning offer on a Choice AU Barber Quarter, or think I know what the asking price should be, I go about one for four. I think I'm strong, but the market continues to amaze me on a regular basis with very strong prices on the better and best dates. If I knew that next year or even a couple-three years from now I could find them for less, I might hold off. But like the halves I'm sure (I don't do the halves at this point), there just aren't many around in the higher circulated grades that are worth owning. The same can be said for some of the dimes, especially the better early dates.
What was once an overlooked area of numismatics, where prices were stagnant, has turned into one of the hottest, most challenging and competitive areas of numismatics.
I think that statement sums it up well ... kindof sucks though
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>By the way, the over-under on this thread is 10. >>
Dave,
It's our duty, we have to keep the Barber posts alive and well.......it's your turn next.
Connor Numismatics Website
<< <i>And the 04-S half in NGC 58 in the recent Superior sale sold for $5750 with juice. >>
Dale,
For whatever reason, Superior never posted an image of the 04-s on Ebay. I emailed them, hoping to get an image, but still no response.
Connor Numismatics Website
<< <i>I have a dilemma right now with this date. I was recently asked by a good dealer friend of mine what I would pay him for a 1904-S in a PCI Green AU55 holder. The dealer said he knows where he can buy one from a private collector, but he wants to do a quick turn around on it. I've purchased quite a few Barbers from him and he said I was the only person he knew who might be interested in it. He said the coin is a definite AU50 and possibly a 53, but he said it may have been very, very lightly cleaned at some point in its life. I'm hesitant to quote him a price without at least seeing a picture of the coin.
Anybody have any suggestions? >>
Cary,
I would think a decent picture would be a prerequisite for making any decisions, and even then, a picture might not show the fine hairlines of a previous light cleaning. At least you would get a feel for the overall look of the coin, and then make the decision if you even want to bother looking at it in hand.
Connor Numismatics Website
Anybody have any suggestions? >
As far as circulated Barbers go, I consider the PCI green slab to be equal to early ANACS/PNG slabs. Which makes them second only to PCGS, and not by much. PCI greens were super-sensitive to blast white coins that had been cleaned, but I believe slightly less vigilant in identifying old cleanings that had toned. Generally -- PCI green 55 = PCGS 53/55, NGC 55/58, IMHO.
Steve
Try finding decent examples of 93-S, 96-O, 96-S, 97-O, 98-O, and many others in nice original F15 or better.
The 96-O in mint state has fewer certified by PCGS and NGC than the 04-S, but we see very little movement in price for the 96-O. In fact, any of you with grey sheets look at the difference in prices for the MS 64 and MS 65 coins for this date. By my estimation, an MS 65 1896-O ought to be worth $30K and an MS66 around $50K. They just can't be found. David Lawrence's book really highlighted the 04-S as the rarest, but the current population figures show the 96-O to be king. I follow the coins closely and think that the numbers are pretty darn close to reality for these coins despite tendencies for people to resubmit coins and not return the tags.
I looked at the PCGS 55 on HLRC's site. ( Peter, IMHO my coin's nicer ). ( I wonder what Harry wants for his PCGS 63 example ? )
I marvel at what the Barber prices are doing; it seems the only collectors of these series that I am aware of, have been active on these Forums, of which quite frankly, there arn't that many of us. Obviously there are many other collectors - I don't have the actual number of members of the BCCS.
We all know that these series have been overlooked in the past by the majority of the coin collecting fraternity, most call the design ugly - and everyone's entitled to their opinion - but now it does seem that non-Barber collectors are only becoming involved because they have a profit motive in these series.
Although I collect all four denominations, having started with the Nickels first, and finishing with the Half Dollars, I wish I had done the reverse, as the Halves have been the ones that have shown the greatest amount of gains. Of course, all the keys have shown incredible price increases, regardless of the denomination, I meant that its the common dates and semi keys in the Halves which seem to be experiencing a price boom.
We all know only too well of the scarcity of XF/AU Barbers (which are still in original state) and we have all notified each other out when something becomes available but as many of us are working on duplicate sets, these notifications are not that frequent.
How I missed out on the 1905-O in PCGS AU 58 that was on Alpine's site recently is beyond me. Congratulations, Gary. Nice score.
Check out Arizona Sun the the Barber Halves Registry. Gary has added some wonderful coins and seems to have gotten a few bumps in regrades as well.
Always enjoy these Barber threads.
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
<< <i>How I miised out on the 1905-O in PCGS AU 58 that was on Alpine's site recently is beyond me. Congratulations, Gary. Nice score.
Check out Arizona Sun the the Barber Halves Registry. Gary has added some wonderful coins and seems to have gotten a few bumps in regrades as well. >>
Mike,
Over the holiday weekend, Alpine still had a number of nice, certified, AU-55/58 Barber halves on their website. Unfortunately, when I called first thing this morning, all were sold, except for a 1903-o in AU-58, which I wasn't crazy about. Shutout again........maybe next time!
Connor Numismatics Website