Is the price for "moderns" is about to skyrocket?

pop1

The cover story in this week's Coin World concerns a coin famed for its involvement in legality, to illegality, to legality, with international intrigue, including presidents and kings, and should bring millions and millions of dollars in its upcoming auction. WHAT is this Smithsonian quality specimen???
IT'S A BLASTED "MODERN COIN" - 1933, said to be, perhaps, "The Worlds Most Valuable Coin".
Can you believe all the hype?

keithdagen

Not sure that I would call that a "modern" coin. I tend to think of the cutoff after 1964, but others might not.

Keith

wondercoin

Keith: I sure define "modern" as beginning in 1932. Or, are my silver Roosies "classic" coins? I oculd live with that too Wondercoin

keithdagen

Mitch,

I really consider the series before 1964 as classic coins, including the silver composition Washingtons and Roosevelts, even though those series continued intact into the clad era. The only variance in that view is that I would consider all Lincoln Memorials as moderns, even though the Mint jumped the gun by a few years on the design change.

Under your definition, you would split the Buffalo, Mercury, and Walking Liberty series with no differences in composition or design.

Keith

psxchelly

all the "hype" is that the coin was illegal to own. They were supposed to be distroyed. In the article and also one of the PCGS books its tells the whole story...

Kinda like all the the "mules" that mysteriously appeared in Philadelphia where they were minted.

DeepCoin

I would rather the 1933 coin be the worlds most valuable than the 1804 dollar. Talk about overrated coin. Just MHO.

dbldie55

The saints were made, starting in 1907, not modern by many people's descriptions. Now, there is one 1933 available. I want to know how many people on this board were alive when gold was legal tender (something that a modern should have). I would also like to know of anyone who has spent a 1933 saint.

A Saint Gaudens Double eagle is not a modern coin. DUH.

pmh1nic

I'm not sure where the cut off for classic/modern should be. My leaning for the 1933 Saint is to call it a classic coin. Regardless what you want to call it although hundreds of thousands were minted the vast majority were melted and this is the only one that can be legally owned by a private citizen. It's extremely rare, it's considered by many to be the most beautiful design of any U.S. coin, it's got a very interesting history and pedigree, and it's made out of gold. Over Hyped...give me a break! With all the press given to clad, populations in the hundreds of millions, high grade modern "rarities" to call the CW article regarding the 1933 Saint hype is absolutely ridiculous.

littlewicher

I thought the price of moderns have already skyrocketed.

QuickMiata

Over Hyped modern coin is when it was made less then a few months ago and its selling for Tens of thousands of dollars.

Now thats a big joke

BobbyL

I hear many people saying that they think the Modern market
has gotten out of hand already. I can only give my viewpoint
as a dealer. I see demand and orders increasing every day.I
know this may sound like I am tooting my own horn but I really
feel that this market is in it's infantcy. I am mainly a wholesaler
and every time I offer a group of Modern Commems. which I specialize
in , it is a sell out.

I really believe with the advent of the State Quarter program that
the collecting base has increased by the tens of millions. Many of
these Modern Commems that I deal in have mintages of less than 30K.
It's easy to see that if they catch on there will not be enough to
go around. We are all aware what the supply/demand scenario will do
prices. I have planed my marketing on the natural progression of the State Quarter collectors to Modern Commems and coins to then to all other areas of coin collecting. Forgive me for being so long winded.
Any comments appreciated.
Thank you for your time.
Bob Lecce

MJCoin

Less than 30,000? How bout less than 10,000, 8,000, 6,000 as with the Uncirculated Modern Gold Commemoratives. I'm not tooting my own horn either, because I'm still trying to aquire them!

roadrunner

1933 Saint is no modern coin nor "hype." Unless the 1849 $50 gold union or 1907 $20 Judd 1776 Indian comes on the market, the 1933 Saint will probably become the World's most valuable and sought after coin. The post-1964 moderns and possibly much of the post 1932 coinage, will eventually implode. Every market eventually comes crashing down...even beany babies! The number of possible high grade state quarters is unlimited. Out of several billion coins how many MS-67's do you think can eventually be made? This is identical to the path that MS-65 Morgans took in 1986 when slabbing made then "rare" for a short period of time. The supply of MS-65 Morgans continues to increase at 5% per year even though the rewards for slabbing them are slight. Once the market is saturated with moderns (it's already happening to many 67 and 68 state quarters), prices will fizzle. Just remember that when everyone is talking about what a great investment moderns are, a collapse will be around the corner.

roadrunner

michael

as long as the demand is there and it keeps growing for modern coins, the prices will continue to increase........sincerely michael currently i think the sleeper undervalued coinage are the older classic coins with exceptional surfaces and exceptional eye appeal be it a super hi grade fully original or monster toned seated coin or a fully original clean problem free poor to ag chain to a wildly coloured ms 64 capped bust coin to an au 58 super eye appealling 19 century type coin to a full red large cent in a choice ms grade with no spots or stains or uneven color the list goes on and on

braddick

Now, if you owned the 1933 double Eagle and placed that one SINGLE coin into a Registry- should that registry then be #1?
Steve, that's the WAY BIGGER question. . .

keithdagen

Come on, a single coin shouldn't dominate a Registry set. Now, if the owner also had the 1849 Double Eagle, then they could win hands down.

Keith

Cocoinut

I sure wouldn't consider a coin type that hasn't circulated in 70 years to be modern, and I don't believe the 1933 Saint is over-hyped. It's a true classic rarity with a fascinating history, and since this Farouk specimen is the only one that's CURRENTLY legal to own, it will no doubt fetch a record price. I believe that there are still a couple others in private hands, but nobody's going to admit owning one, because it would be confiscated.

The definition of modern? It depends on the context in which it's used. Some dealers/collectors consider modern to be post-1600 coins, i.e. anything after the medieval era. For collectors of U.S. coins, it used to be anything after 1934. Why 1934? That was the year the first "penny boards" were made, which popularized coin collecting and led to the practice of saving rolls of BU coins. Now, with 37 years elapsed since clad coinage began, many consider anything from 1965 onward to be "modern". Take your pick; there's no "right" answer. It's like asking people of various ages what they consider to be an "old" person.

Jim

BobbyL

Yes, some of the Modern Commems. have mintages of
less than 10,000. I have been accumulating these
whenever I have the chance which is not very often.
It is surprising how well these are dispursed. Many
collectors that have them are holding on to them I
know that I am not the only one that knows these will
be the rare coins of the future.

Watch the Capitol
Visitors Center $5 in Unc. Looks like this coin will
be the 2nd lowest mintage of any Modern coin with
just under 6,000 minted. You could have bought this coin
from the mint in December at $180-$200 range depending
on the packaging. I am currently paying $325 for raw
coins and more for MS-69/70 coins. I predict this coin
will be over $600 by the end of the year.I can't say
for certain because I also thought internet stocks were
going to continue to rise! The difference is the supply
of these coins is very limited. I like my chances much
better with this prediction.
Regards,
R.B.L.

boiler78

Roadrunner- The J-1776 you mentioned is my all time favorite coin design. I wonder whatever happened to it?