Is the '70-S sm dt the best coin in the set?
cladking
Posts: 28,689 ✭✭✭✭✭
The '70-S small date cent is wholesaling at $37.50 now. It appears in slightly more than 10%
of the 1970 mint sets and all these sets have been picked over now so finding unattributed coins
is improbable. In fact the demand for the coin is high enough that these sets get destroyed very
quickly for this coin. There were another 100,000 or more which were released into circulation
and most of these have been found or destroyed by now. There are thousands left but they're
mixed in with billions of other coins so finding them is tough.
Many cent collectors consider this part of the complete set and this is the source of most of the
demand for this coin. In the same set though are several other coins which seem to be far more
desirable. Only about 4% of the Kennedys were gem when the set was new and years of selec-
tion and time to degrade has dropped this percentage. There are even some pretty scarce PL
coins yet little interest is seen in these.
Perhaps the most startling comparison is to the Philly quarter. This coin is a regular issue clad
quarter and had a mintage of about 136 million if memory serves and is the 4th lowest mintage
of the series. Quality of the regular issue quarters took a huge step forward with the 1970 and
for the first time in the series it was possible to actually find a gem in change that year. The mint
set quality is only a little better than the previous couple years. (it's on par with the '68 after a
terrible '69). Because of the better quality there were more coins set aside and the Denver issue
is nearly common. (~1/2 million coin) The Philly was saved in much smaller numbers but still more
than earlier P mints. Gems in the rolls of Philly's are not typical but do exist. Like most years the
best bet to find gems is in the sets but these are somewhat tougher to find than the '70-S sm dt
cent. In fact only about 8% of these coins are chU or better.
So the question is this; Are there really so few clad collectors that the scarcer choice "P" quarter
has no premium to the BU roll price (50 c) while the small date sells for $37.50 ?
of the 1970 mint sets and all these sets have been picked over now so finding unattributed coins
is improbable. In fact the demand for the coin is high enough that these sets get destroyed very
quickly for this coin. There were another 100,000 or more which were released into circulation
and most of these have been found or destroyed by now. There are thousands left but they're
mixed in with billions of other coins so finding them is tough.
Many cent collectors consider this part of the complete set and this is the source of most of the
demand for this coin. In the same set though are several other coins which seem to be far more
desirable. Only about 4% of the Kennedys were gem when the set was new and years of selec-
tion and time to degrade has dropped this percentage. There are even some pretty scarce PL
coins yet little interest is seen in these.
Perhaps the most startling comparison is to the Philly quarter. This coin is a regular issue clad
quarter and had a mintage of about 136 million if memory serves and is the 4th lowest mintage
of the series. Quality of the regular issue quarters took a huge step forward with the 1970 and
for the first time in the series it was possible to actually find a gem in change that year. The mint
set quality is only a little better than the previous couple years. (it's on par with the '68 after a
terrible '69). Because of the better quality there were more coins set aside and the Denver issue
is nearly common. (~1/2 million coin) The Philly was saved in much smaller numbers but still more
than earlier P mints. Gems in the rolls of Philly's are not typical but do exist. Like most years the
best bet to find gems is in the sets but these are somewhat tougher to find than the '70-S sm dt
cent. In fact only about 8% of these coins are chU or better.
So the question is this; Are there really so few clad collectors that the scarcer choice "P" quarter
has no premium to the BU roll price (50 c) while the small date sells for $37.50 ?
Tempus fugit.
0
Comments
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<< <i>I can't answer your question, but perhaps you can answer one of mine re the 1970-S sm. date. It seems that both the proof and circ strikes have the weak "Liberty." Why would both dies have this in common? >>
If memory serves it was caused by a redesign and affected a master hub. These are used
to make both the mint and proof dies. The proofs just get a lot more processing.
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<< <i>So I assume you mean best coin in the 1970 mint set? Well, first thing you aren't applying a condition to the 70-s, but are saying "choice" with respect to the quarter. The 70-s sd is very hard to find in choice or gem too (you see pcgs graded ones often but most are overgraded. I doubt any true ms67's exist). Finding 70-s sd's in bankrolls is very improbable (I've yet to ever find one now), although finding bankrolls of 70-p quarters is very improbable (I've yet to ever find one now, wait, once I saw one on ebay but forgot to bid). I just went through rolls of coins from 400 cut up 1970 mint sets. I got all the denominations and mint marks except the 70-s cent and 70-d half. The 70-p quarters are not easy but much much better than 69-p and 71-p. I submitted 30 of them and have a decent chance at an ms67. I've still yet to find any 69-p or 71-p with a chance at ms67. >>
Coincidentally one of my best coins is a sm dt that just could go MS-68. I think it's a lock 67.
The small dates used to look a lot nicer. Not only have they been picked over but a lot have
tarnished or spotted in the last several years.
I picked MS-64 because this is the minimum grade that most collectors seek coins in series
that are affordable. I would think that the demand will largely be concentrated in this grade
and higher at least so long as they are available for fifty cents.
It's funny that as tough as the '70 roll is, it's still one of the easier clad rolls. Many people
seem to think that if all the rolls were checked that pops would soar, but in actuality there
are so few rolls of most dates and such poor quality that checking every roll might not in-
crease even the just missed pops. I've seen six or eight batches of this date over the last
35 years. None of the batches were more than a few rolls. Most rolls of this date that are
seen are assembled from mint sets.
Aren't either of the Jeffs in full step gem worth several thousand dollars?
and it sets us apart from practitioners and consultants. Gregor
Cladking! That's awesome you have that nice of a 70-s sd. Please please please remember me if you ever want to sell it (and your 76-p T1 Ike)!
Fairly easy to find in circulated condition, but VERY tough in BU. Does any one know
if they can be found in the 70 Mint Sets?
Brian
I LOVE
back in 1970 that they were considered a nuisance since they wouldn't work in vending ma-
chines. I've got a few AU's but no unc.
Any of the coins in the set in very high grades brings good money but a few of these are even
tough in MS-64 or MS-65.
The '70-S nickel comes extremely nice in about every 1200th set. It sounds like you've got one
of these LincolnsRule. They are very well struck and vaguely proof like. The second best coins
tend to be two grades lower.
Which is kind of funny since the combined roll price of these is about $14.35!!! Essentially
you pay foir the half dollar and they throw in the small dates, gems, and full steps for free.