1824 bust quarters

SG58

What is your opinion on the scarcity/rarity of 1824 bust quarters and are the current high prices being paid for circulated examples justified?

Leiana

According to coinfacts.com...



<< <i>The finest circulation strike example graded by PCGS is a single AU-58. >>



So perhaps this means that there are no MS examples to be had, so all circulated grades recieve a valuation bump accordingly.

This is simply conjecture on my part, however.

-Amanda

Baley

An excellent question! I think they're a fairly scarce R3 but with B1 being the only variety of the year, that's the one needed for a date run.

Recent prices have me puzzled, 1824s are consistently going for well above trends, even for problem coins. Maybe somebody's hoarding.

I don't have one yet, it's been on my list for a couple of years, I'm still kicking myself for passing on one offered to me a while back, at what seemed like a strong price at the time but now seems quite reasonable.

May have to keep on waiting until the "hoard" comes to market

numisma

<< <i>What is your opinion on the scarcity/rarity of 1824 bust quarters and are the current high prices being paid for circulated examples justified? >>



Very good question. They are definitely scarce, but not rare. The prices that you are now seeing are accurate, in my opinion. When I was at Jade, we had accumulated 35 1824 quarters, which was the largest hoard on the market. Supposedly, there is at least one private hoard not on the market that is even larger. When you consider that we call 35 coins "a hoard", this date must be scarce.

I used to put all of the 1824 quarters out on a felt pad in our display case with a menu listing of prices. We always sold 1 or 2 and usually bought 1 or 2 at the show, since collectors realized that we would pay 2 or 3 times bid (sometimes more) for the date. One day a guy walked up and said, "WOW! Look at all of those 1824 quarters. I have been looking for one for 3 years and now I see a whole group of them right here! How much is that one in F-12?". I told him "$1,200". This guy hit the ceiling! He started screaming about how that was way over the price guides and I was crazy and blah, blah, blah. Then he walked away.........without an 1824 quarter. And I bet he still does not have one, because the price guides are wrong and he can't understand that.

To test what I am saying, go to ANY major coin show (ANA, FUN, etc.) and walk the entire floor and count 1824 quarters. With the exception of Jade's table, you will be able to count on one hand.......sometimes you will count to 0.

Dennis

numisma

BTW, the best 1824 quarter that I ever handled while at Jade was the Browning plate coin that Browning bought in 1917 for $12 as a VF. The coin is gorgeous with beautiful toning and now resides in an NGC AU-55 holder. It really is AU by today's standards. We sold that coin for 5X the list price and then tried to buy it back at a strong profit for another customer who wanted it, but the collector would not sell.

rec78

Ngc has graded this 1824 quarter MS62

1824 is a very intriqueing date for bust quarters. Heritage has sold only 26 examples in 15 years and some of them probably more than once. I have always liked the 1824's. They are not easy to find. Bob

Barndog

I listened to what Dennis had to say about 1824 (and other dates) quarters at a FUN show in 2005. I heeded his advice. Example was a G-6 quarter of 1824 I purchased for $230 or so...well above what the Greysheet price was. I sold it for more than $650 earlier this year.

RichieURich

As Dennis said, it's a coin needed for a date set, they're tough to find, and people are buying them at the higher prices. At Baltimore I think Andy (Jade) said they had 31. There were a couple others at the show, all were at the new prices. This is a date that if you need it you will have to pay a LOT more than Trends.

dorkkarl

<< <i>Ngc has graded this 1824 quarter MS62 >>

ngc is full of crap

K S

mozin

dorkkarl,

Tell us what you really think.

Tassa

I always cringe a little when someone asks to see an 1824 Quarter and then opens their greysheet as I'm telling them our price. I never know what their reaction is going to be. Sometimes they laugh. Sometimes they just look at me like I'm crazy. One person got down right upset and practically threw the coin and walked off in a huff mumbling something to himself before I had a chance to explain why they are priced as they are.

numisma

Love this date!

Baley

I'd like to have one in VG or Fine details, even if it nets down to Good or so for a contemporary problem

goose3

pricewise and scarcity wise....I think they are VERY similar to the 1822 dime.

Walk the floor at a show and try and find one of those as well.

I love coins like that.

Baley

Here's an 1824 quarter in AG that just sold for $343

Trends for a Good is $90

numisma

<< <i>Here's an 1824 quarter in AG that just sold for $343

Trends for a Good is $90 >>



That's Alistair Skinner's eBay auction. He is a really nice guy and he loves early quarters. I think I sold him 1 or 2 1824 quarters a couple of years ago at a California coin show.

RichieURich

As I said previously,


<< <i>This is a date that if you need it you will have to pay a LOT more than Trends. >>

Cladiator

One of the days I'm going to find one with my metal detector. It'll be sitting right next to an 1838 Capped Bust Half Dime.

RichieURich

<< <i>One of the days I'm going to find one with my metal detector. It'll be sitting right next to an 1838 Capped Bust Half Dime. >>



Why waste time finding a 1824? You'd be better off finding an 1823/2 or an 1827/3!

Baley

Where does "Trends" get their price info, if not from the market?

Cladiator

<< <i>

<< <i>One of the days I'm going to find one with my metal detector. It'll be sitting right next to an 1838 Capped Bust Half Dime. >>



Why waste time finding a 1824? You'd be better off finding an 1823/2 or an 1827/3! >>

Yeah but if I found a '24 I'd have something worthwhile to post to this thread

RichieURich

I don't know where Trends or any of the other price guides get their info, but they're all way off on 1824 Bust Quarters.

Baley

don't know where Trends or any of the other price guides get their info, but they're all way off on 1824 Bust Quarters.

Well, Jan 2007 "Trends" 1824/2 is $90 in G-4, $135 in VG-8, and $250 in F-12

This morning an Anacs AG-3 on eBay closed at $321.67

PCGS price guide is at least closer with $300 for Good and $1250 for Fine

SG58

The same seller had an ANACS AG-03 1822 bust dime that went for $702.00 !!!

goose3

I saw that bust dime...low end AG at that.

Baley

tough to find old coins are desirable even with problems

Msb94

.....Just recently added this "tough" date to the collection took aliitle time

elwood

Here's mine...PCGS AU-50 A crusty original with blue toning.

They are available in lower grade but AU and higher near impossible. Especially if you want to find one original. There are a couple in AU and higher that have not been slabbed.

That one in the Heritage Auction in 2002 was a steal.

Baley

wow, beautiful example elwood!

Baley

Well, I got one with VG details, scratched, corroded, and cleaned, but at least the hole is filled (for now)

Baley

another ugly net-AG specimen for over $300

Cladiator

Cool 1324 Quarter

numisma

<< <i>another ugly net-AG specimen for over $300 >>



I was watching this one. It is bent (though not stated in the description), so I passed.

Baley

here's a good-6 that went unsold at $659

rhedden

I thought I would TTT this old thread, which was an interesting one to say the least. Dennis (Jade) made this comment earlier in the thread:

To test what I am saying, go to ANY major coin show (ANA, FUN, etc.) and walk the entire floor and count 1824 quarters. With the exception of Jade's table, you will be able to count on one hand.......sometimes you will count to 0.

That was basically true at the last Baltimore show. These are still unavailable. I wasn't specifically looking for one, but I don't recall seeing any at all.

I should also mention that the 1824/2 is still woefully underpriced in the price guides. I don't have my 2009 Redbook on hand at the moment, but I recall that it is priced way under market in VG-8 and F-12. Anyone have their book handy, and want to quote some values? What is it in Trends now?

JJ Teaparty has three of them listed at the moment- including a cleaned VG for $1295 and an ANACS F-12 at $2895. I am willing to bet that the F-12 is priced at more than five times the value in the price guides. And that is not a slam on Teaparty, one of my favorite outlets. it's just reality on the way these quarters are priced. Just wait until those long-awaited bust quarter reference books hit the market.

RichieURich

<< <i>I thought I would TTT this old thread, which was an interesting one to say the least. Dennis (Jade) made this comment earlier in the thread:

To test what I am saying, go to ANY major coin show (ANA, FUN, etc.) and walk the entire floor and count 1824 quarters. With the exception of Jade's table, you will be able to count on one hand.......sometimes you will count to 0.

That was basically true at the last Baltimore show. These are still unavailable. I wasn't specifically looking for one, but I don't recall seeing any at all. >>



Do you mean the Baltimore show last week? I had 8 in my case. Obviously, at market prices, not Greysheet or Trends.

rhedden

You had 8 at once?! Hoarder, I say!

I walked past your table, but I was on a mission to find someone at the time. At least I know where all the 1824 quarters went!

500Bay

<< <i> I had 8 in my case. >>



Are they able to be PCGS/NGC slabbed?

Are the low pops for these because they are not in plastic/ or in ANACS?

RichieURich

Probably some of them will be sent to be slabbed, just haven't decided which ones to submit yet.

Tvac897

I've heard they're hard to find...no experience personally though.

rhedden

I just looked at Dick Osburn's website, and he has 5 of them for sale, too. On second thought, I think high prices may be bringing these out of the woodwork; it's just that a handful of specialist dealers (including Rich) seem to have most of the examples offered for sale.


Edited to add: I just got out my 2009 Redbook, and the 1824/2 lists for $325 in Fine and $850 in VF. You have to laugh- those are supposed to be retail prices. The market price is roughly 6 to 8 times Redbook on these. Reminds me of the situation with 1801 and 1802 half dollars about 6-7 years ago.

fengk

<< <i>On second thought, I think high prices may be bringing these out of the woodwork; it's just that a handful of specialist dealers (including Rich) seem to have most of the examples offered for sale. >>



Very true. The last time I talked to Andy Reiber at Jade he was still adding to his hoard, and was only selling a couple at a time.

STONE

I hate to jump the gun before I get the coin in-hand, especially being being from (Early Bird Auction Yonker)
but I figured that picking one of these up now, only weeks before people start receiving their new Bust Quarter book would be a good idea.

Plus, to say the least I needed to add this date to my set and I wanted to get this difficult date earlier than later before prices move up again.
Now I just need a couple other pesky dates, 1796 and 1804 (I won't bother to mention the 1823 or 1827), in order to have the toughest ones out of the way.

I will add pictures when I get the coin in hand (should be w/in 2 weeks), but it's looking like a G-4 with a couple light "scratches" from the image.

Rich, I saw all your 1824's you recently listed on your site, and I just couldn't believe it. It almost made me feel that these were less scarce than they actually are.

RichieURich

<< <i>Rich, I saw all your 1824's you recently listed on your site, and I just couldn't believe it. It almost made me feel that these were less scarce than they actually are. >>



I think there is a correlation between being a high buyer on this coin, and having several in inventory. They seem to be difficult to find with nice surfaces and no problems, so I have been acquiring these.

Baley

Here's mine,



would love to upgrade but all the ones in the market are priced at multiples of the price guide prices

Lucky to have one in any condition I guess.

rhedden

I have a feeling there's not much room left for further price increases with the 1824/2. The ones I would buy before the book hits the market are the 1822 25/50, 1825/2, and 1828 25/50. The 1823/2 is out of most peoples' budgets, but if just 2 or 3 more people decide they want one, that will go through the roof too. Each of those major varieties are much scarcer than the 1824/2. Anyone want to add some others to the sleeper list? 1815 and 1822 B-1 perhaps?

STONE

I still need an 1815, and feel that it is a definite sleeper for its current price.
As for the three 1825 overdates, I already have the B-2 and B-3, and I can hold off on the B-1 for now (I know these words will come back and haunt me )
rhedden, you also mentioned the two 25/50's. I would love to pick these up, but they are so darn near impossible to locate, unless you have a deep wallet.
(The 1828 25/50 (strictly by price) seems to be more available than the 1822, but both seem to be quite scarce on the bourse floor.)

Another slight sleeper coin in the series is the 1828 (non 25/50). This coin has a fairly low mintage and does not show up in dealer inventories very often.

Unfortunately most of my numismatic spending money went towards this addition, otherwise I would like to buy another coin I just saw in a dealers inventory.

Quarternut

Another slight sleeper coin in the series is the 1828 (non 25/50).

The 1828 B-2 is very difficult, especially in higher grades. the B-4 is moderately scarce and the B-1 is very common, most 1828's found will be the B-1.

I still need an 1815, and feel that it is a definite sleeper for its current price

The 1815 doesn't show up as often as one might think with 89,235 coins struck (The fact that all but 20,000 were sent to the Planters Bank in New Orleans may have something to do with it). There are many examples of the 1815 available in high grade as they were evidently saved in large numbers as the first of the new design.

QN

1Bustcollector

A nice 1820 B-5 would be high on my list..............

Quarternut

A nice 1820 B-5 would be high on my list..............

Agreed!

STONE

So the 1820 B-5 "nice" would have to be better than a G-6/AG-3 (obverse/reverse) w/ light scratch below bust and a light dig on the reverse (supposedly uncleaned) for $225?