Jefferson MEL Dollar - Sightings?

Silverstate

Griv,
Who set prices on these?

example:
Washington Mel in ms66 - $ 200
Washington Mel FDI MS66 - $ 1000 - 1200

Just seems to be the way it is.....

clackamas

<< <i>

<< <i>BTW - I just got confirm back from PCGS that I have a new variety. They are weak edge letter FDI Washingtons. I don't have the grades yet or how many are position A or B. Oh and they are D mint. >>



Are these your coins?

Washington D Weak Edge - Pos A FDI - For Sale


Washington D Weak Edge - Pos B FDI - For Sale

Low Pops.

>>



No, my ebay user id is "brianmaguire". that is however a forum member. I guess there were a few graded nearly at the same time. I can't imagine I was the only one to get them but I d find it curious that all of a sudden I have them as well as someone else. These are Washington FDI's, they have been around for some time.

Griv

<< <i>Griv,
Who set prices on these?

example:
Washington Mel in ms66 - $ 200
Washington Mel FDI MS66 - $ 1000 - 1200

Just seems to be the way it is..... >>



Jim,
I have no answer to this. It's like being in a casino. WA MELs are plentiful so if the FDI brings a premium then more power. I'm not bashing FDI but I personally am done with chasing FDI Presidents. I have other dragons to slay.

SLIDE

question: jim, how do you find out the pops of the new coins that come out, and some of the ones already out? for example, where do you go to get jefferson mel pops?
ryan

Silverstate

Ryan,

Simply go into your Presidential Sets where the coin in question could reside If you had one.

Use the "What If" feature and you can click through all of the grades and coin types to see current pops.

The are updated quicker than the regular pop reports using the PCGs #'s.

The only key is that you need to have a registry set to do this.

Hope this helps.

SLIDE

thanks jim.
i just found this on ebay:

Authentic Mint Error Jefferson Dollar with smooth edge Item number: 290227074638
THE STARTING BID IS 8,000!!!!!! The description states that the only 68 is owned by the president of the USA!!! i didn't know W was a collector...

Silverstate

<< <i>thanks jim.
i just found this on ebay:

Authentic Mint Error Jefferson Dollar with smooth edge Item number: 290227074638
THE STARTING BID IS 8,000!!!!!! The description states that the only 68 is owned by the president of the USA!!! i didn't know W was a collector... >>



Thanks, Ryan...We are back on topic!

Here's the eBay auction link - $ 8K for MS67 Jefferson MEL - Note the seller name - "Lovebargains70" :-)

SLIDE

TANGENT:::::jim, why u waiting on the pres. holder on van buren proof? also, how in the world did you get so many 70s off your own submissions? how many did you have to send in to achieve that? congratulations! that is a helluva an achievement...i never get coins graded back with any decent grades. too expensive to keep sending them in as well.

SLIDE

jim i just checked out how many sets you completed! WOW!!!!!!!!

Silverstate

I picked up the Van Buren Proof. Just need to update my set.

wondercoin

Jim: Thanks for the link. Did I read that correctly, that the President of the U.S. now owns the MS68 coin? Geez, I wonder if the President would be interested in my extra finest known MS67 Washington rimless??

Wondercoin

eCoinquest

Why would the President want a registry grade presidential dollar coin??? If the president was collecting coins, don't you think someone would have heard by now.
It is possible but I am leaning towards the seller hyping their own coin....

Griv

Why would a Christian President want Godless dollars?

Silverstate

Check out the buyer feedback that the seller of that MEL has.

Look like they a "craft & sewing" person.

When are people going to wake up on these?

SLIDE

i have two of the ms68 monroes. does anyone know what they are worth? One is the 9 pop and the other is the 6 pop??

wondercoin

Best I know...

Most of the Price Guide changes have been already made on MS69SF P mint coins (2 more changes to come early next week on Adams PA and Madison PB). Also, the opening Price Guide levels on Monroe MS68 FDI coins are expected to be between $1,100 - $1,400/coin depending on date/position and should be listed early next week. Also, some adjustments were made on the very low pop coins throughout the series - a few going up and a few going down. With the pops more than doubling on pop top Doubled Die Adams, I would suspect those prices might be under review later this month. Ditto for the MEL Washington pop top which saw an increase of a handful of coins in top grade last month and may also be subject to price review above and beyond the $500 it dropped this week. Just my personal opinion on these last couple coins mentioned - IMHO, current levels might be a bit too high.

Wondercoin

Silverstate

<< <i>i have two of the ms68 monroes. does anyone know what they are worth? One is the 9 pop and the other is the 6 pop?? >>



I bought a Monroe P MS68 FDI for $ 700, just about two weeks ago.

Griv

I'd be interested in one.

Of each.

Silverstate

Mitch,
The price guide is really not close on many issues.
Still see $ 85 posted for a unique Madison D Partial ?

I noticed the P Madison partial got fixed.
The D is just as rare?

I really think Jaime needs to look over all of the error coins for 2007 and fix them.
Many still show no values and others are not reality.

wondercoin

Jim: They can only get fixed so fast. Jamie H. takes the time to research the issues. I have not seen the Guide on the non-major errors in some time, but, I am under the impression that many of the coins have already been fixed. I am confident they will all be addressed later this month - like that partial D Jeff you mention.

But, speaking of the major varieties for just a moment (as opposed to the non-majors) - a number of collectors and dealers suggested that the P mint SF MS69 coins were of most importance to fix prices ASAP (like P Mint Washington coins that were listed as low as $400 for the PB as I recall). They were addressed - prices were adjusted upwards - some doubled or tripled. I assume most people are now happy with the pricing.

Wondercoin

19Lyds

They just never give up trying to sell these for more than thay are worth.

IMO, the Jefferson Presidential Dollar represents the most over valued coin of the entire series! The MS67's went for moon money until folks figured out they were hundreds of them and totally ruined it for the MS67 Madison's which has a significant amount less than the Jefferson's! It just really turned folks off!

Silverstate

Lee,

RE: Jeff MEL
Too many people got pushed in at way too high prices and they are just trying to recover their purchase prices.
I feel sorry for them. Sometime in the future they will let some go for whatever the market says and the bath will begin.

RE Regular Business Strike MS67 Jeffersons
....I took a huge bath on these myself as well.

wondercoin

Jim: I think Lee might have been also referring to regular MS67 Jeffersons with that comment? Anyway, Justin may add an MS67 to his set one day when the coins fall to around $2,500 and only after others have done so as well.

Wondercoin

mas3387

<< <i>Jim: I think Lee might have been also referring to regular MS67 Jeffersons with that comment? Anyway, Justin may add an MS67 to his set one day when the coins fall to around $2,500 and only after others have done so as well. >>




<< <i>Wondercoin >>



Did you see that MS67 GW MEL - dropped 2K over night !!!! Did you make more coins we should know about? Or is it just because ..............

Silverstate

<< <i>

<< <i>Jim: I think Lee might have been also referring to regular MS67 Jeffersons with that comment? Anyway, Justin may add an MS67 to his set one day when the coins fall to around $2,500 and only after others have done so as well. >>




<< <i>Wondercoin >>



Did you see that MS67 GW MEL - dropped 2K over night !!!! Did you make more coins we should know about? Or is it just because .............. >>



Plausible deniability.....

wondercoin

"Did you see that MS67 GW MEL - dropped 2K over night !!!! Did you make more coins we should know about? Or is it just because .............. "

Mas - Not only did I see it - I belive I even told you about it weeks ago (as well as Coinfame, Silverstate, Griv, Carlsbadeagletrader, etc., etc, etc,), including the fact that I had absolutely nothing to do with making those (5) new coins (an out of state coin shop owner appears to have gotten very lucky with a MEL submission). I also reported the rising pop and the ebay offering to the Price Guide editor who did drop the MEL coin by $500 in the Price Guide last round, but, as I mentioned elsewhere, I think the price drop is probably not over yet, as IMHO, the coin is probably marketable around the new asking price in this market.

Wondercoin

mas3387

<< <i>I also reported the rising pop and the ebay offering to the Price Guide editor who did drop the MEL coin by $500 in the Price Guide last round, but, as I mentioned elsewhere, I think the price drop is probably not over yet, as IMHO, the coin is probably marketable around the new asking price in this market. >>



That's right I forgot you had the power to do things like this with price guide. If only i had the time to dig up that last thread

wondercoin

Mas. You originally asked a question like you were "out in the cold" on this issue, but I informed you on the spot (weeks ago) about the very issue as I recall. It truly has nothing to do with "power" - the Price Guide may need to drop because the coins may be worth less at the moment IMHO. Coins that I also personally own and that my son, Justin, owns right now as well in his set.

But, let's hash this out via PM. i just sent you one.

Wondercoin

Silverstate

Holding the price guide at $ 8500 might make me feel better.

But, it might not be reality. And yes, I am in deeper than than price guide says now.


It's only money.....

wondercoin

Jim: There is certainly an argument that if the pop 100+ Jefferson MEL coin is being marketed at $8,000, that the pop 17 Washington MEL coin is worth more. I appreciate that point of view and, perhaps, that is why the editor elected to keep the level at $8,500 for the moment even with the pop increase? You, as the #1 collector- I greatly respect your view point on this series - perhaps the guide is fine where it is currently at (for the moment at least) if you feel strongly about it.

Wondercoin

Edited to add - I just noticed the pop on the MEL Washington coin is actualy 18 now.

SLIDE

This is all very informative to me. It appears i can learn alot from yall's messages. Please keep up the conversation...
thanks everyone,
ryan

mas3387

wondercoin

Mas - May God be my judge - I just discovered that you listed a MEL Washington on ebay and were asking $7,800 or so for it less than 30 minutes ago when I saw the pop had moved up from 17 to 18. Sincerely, no harm was intended to you or your business.

Wondercoin

mas3387

My better half informed to end the discussion, so it is done


Haven't read PM's yet, not sure that I want to being banned from posting

Mitch I still love ya

notwilight

...no comment.

mas3387

Edited out the above comment that is now a no comment

You have yourself another Nice Day

Oh and your welcome

mas3387

<< <i>...no comment. >>



You have yourself a Nice Day

Griv

The known pop of the Jefferson MEL is 800. Almost 500 of them are MS66 or better. I understand there are MS68s but I cannot verify it. My MEL is on it's way back to where it cometh from.

Silverstate

<< <i>My MEL is on it's way back to where it cometh from. >>



Are you sad? You did at least have one!

Griv

I was sad when I saw the pop but now I am glad. That was a $300 coin on a good day with a tail wind.

notwilight

<< <i>I was sad when I saw the pop but now I am glad. That was a $300 coin on a good day with a tail wind. >>



Greg, you did very well. --Jerry

Silverstate

Here's an MS67 Jefferson MEL - Look only $ 8000 - Step Right up !!

Or for those on a little smaller budget.....

MS65 Jefferson MEL - Discounted to $ 3450 - Spend your Tax return on this baby! - Your wife will never know. :-)

SLIDE

LOL....that was great jim!! greg, i think it is, how much were u charged for the MEL, and how did you get out of having to pay for it?

i am vexed over the no comment series of posts. did i miss something? what was that all about?
ryan

notwilight

You guys saw where the MS68 Jefferson MEL went didn't you?

sonoranmonsoon

I must admit the conversations I have been reading on some of these Presidential pops vs pricing has been very interesting. I collect all dollars, so I like being involved in both the modern and classic conversations. I do not bash either, as I am a part of both.

However, I always have a nagging thought. If it was not for the registries and the competition associated with them, would we see these very high prices for conditional rare Presidential dollars. When my budget allows I sometimes pay a few thousand dollars for a low grade Early dollar. It ussualy has a total pop of a few hundred. I do not collect for investment purposes, but I think an older dollar will at least tread water in terms of value. In the long run won't these modern pops fall in line with the time tested older coins?

Looking at the high pops and errors in the Presidential series, I am completely amazed at the numbers involved. Almost reminds me of the Tulip frenzy many decades ago. We can still buy rolls from the mint for any President out there, and from what I understand the mint has plenty to sell, so the pop numbers could change drastically (maybe, not so much for the errors; but definately for the commons).

I am not passing judgement here. I must admit I am part of the problem. I pulled the trigger for a high grade Washington the other day. I know damn well I will never profit from the buy, I was thinking of the registry only. No biggie for me, I just wrote it off as a realllllly big binge in Mexico (which I have been known to do from time to time). However, I just can not help thinking that some of these collectors think this is a long term investment, and I suspect they will be very dissapointed when the trend is over. In the short term, I understand money is being made searching those rolls, but the pops vs price (also known as supply VS demand) makes very little sense to me.

Just a thought. Hope I did not get anyone angry. That was not my intention.

wondercoin

sonoranmonsoon:

That was a fair post.

Look - there are folks I know (and some on this thread) that spend the entire day (and night) hunting for pop top Presidential dollars. Many are like "needles in a haystack". Heck, even the 18 MS67 MEL Washington Dollars in existence are out of something like 30,000 submitted MEL coins to PCGS, if I recall correctly. The 30,000 MEL might be out of 500,000(?) or more generally searched coins.

Time value of money for some folks - either search 500,000 coins for the chance to make a few MEL top pops (and return 500,000 coins to the bank after the search is through), OR write a check for $4,000 or $5,000 or whatever and own one instantly - no mess, no fuss. No one puts a gun to anyone's head here. We welcome "hunters" and we welcome cash buyers here equally.


Wondercoin

P.S. My son, Justin, is a "cash buyer" of a PCGS-MS67 MEL Jefferson (sight-seen) @ $2,500 for a pop 102/1 coin anytime in the next 30 days. PM me when the price gets there.

sonoranmonsoon

Wondercoin;

Good reply. I was feeling a bit guilty pulling the trigger on the Washington the other day, however you made an interesting point. It came down to time vs. money. I pick up about 8 to 12 new rolls at the bank every week, hoping to find the grade I needed. My time vs what I found searching made no sense to me. (however, it did keep me from hanging out at the pub to early). Maybe that is why I pulled the trigger on the Washington. I figured it would take so many hours trying to find a washington at ms-67, the odds were great I would never be able to visit my local pub. That would be fine with my wife, but I was a bit concerned.

The supply vs demand still makes no sense to me, but it will after a few more beers. Joe.

wondercoin

"I figured it would take so many hours trying to find a washington at ms-67, the odds were great I would never be able to visit my local pub"

If the pub is important to you at all, you might want to pull the trigger on a MEL coin this week as well - good luck trying to find an MS67 example out there!!

Wondercoin

sonoranmonsoon

lol, luckily I do not collect many varieties. None in the pres series. So I will not go after that one, thank goodness.

Silverstate

<< <i>lol, luckily I do not collect many varieties. None in the pres series. So I will not go after that one, thank goodness. >>



Carefull to not spend TOO much time at the pub, the Jefferson MEL's might start looking good to you!