Finding nice Capped Bust Dime's are tough (stats included)!
STONE
Posts: 15,275 ✭
It's raining outside, a rare NewP arrived in the mail, and I love Bust Dimes, so here is why finding nice Bust Dime's are so rare!
The series has generally low mintages from 1809 through 1837 (Lowest mintage (1809) = 51,065; Highest mintage (1835) = 1,410,000; Average mintage = 585,509 (8 dates are above this average, 12 dates beneath average)). So far, 123 different die marriages are known from these 20 different dates; 16 were ranked R5 or rarer, although a couple of those I now consider R4+ or just R4 in rarity.
Comparing mintages to contemporaneously dated silver issues (Half-Dime's, Quarter's, Halve's), the Bust Dime series has the 3rd lowest total mintage (only Bust Quarters have a lower total mintage compared with Bust Dimes of the same date)
The Mint produced approximately 2x as many Half-Dimes as Dimes between 1829 and 1837; in terms of face value the two denominations were essentially identical.
The Mint produced a little less than half as many Quarters from 1820 to 1837 (not continuous yearly mintages for each denomination); in terms of face value the two denominations were almost identical.
The Mint produced 6x more Half-Dollars during the same years they produced Bust Dimes; that turns out to almost exactly 30x more in face value for Half Dollars than Dimes!
3 Factors contribute to the rarity of Capped Bust Dimes
1) Lower mintages from a certain date put more stress on those coins in circulation since you need to make more transactions per coin when compared with dates of larger mintages; and a lower overall mintage per denomination will do just the same.
2) Add to that smaller denominations helped make change easier to create, and thus were theoretically handled more often than larger denominations, especially in the early 1800's.
3) And finally, each consecutive year which passes adds more wear to previously dated circulating coins; some restrictions apply (especially different types of hoarding).
Thus in theory, when looking at Bust Dimes, 1809 and 1811's should exhibit the greatest amount of wear in the entire series of the coins which remain in existence; these two dates represent the two lowest mintage's and two earliest dates in the series. And generally this is what is found; 1822 also has a low mintage and does not have many survivors graded VF or finer.
What I have noticed when collecting this series by Die Marriage is that some die marriages, and occasionally dates in general, just are scarce or down-right rare/non-existant in grades VF and higher; the exception would be if you had an essentially unlimited budget! Today I just passed 2/3's of the die marriages in the series (83 of 123) and I have been working on this series for 4-5 years. And while my pace may not seem rapid, average 17-20 new die marriages per year, I strive to find nice, original F/VF/EF examples with the occasional AU, G or VG depending upon rarity of die marriage. This alone limits my pace, but also know that I look EVERYWHERE and all the time for what new dimes are out there. If I didn't care so much about grade, originality, or surfaces I would easily have over 100 die marriages, and possibly 115-120 (I'm only missing the 3 toughest die marriages of the x16 R5 and rarer die marriages known in the series). Right now on eBay there are not more than a couple dozen raw, crusty and problem-free VF/EF pieces; trust me I look and keep track of them!
When you compare all my observations to Bust Halves, there's no contest, Bust Halves are just WAY MORE COMMON in grades VF and up (including die marriages); this is to be expected based upon my stats and factors. Capped Bust Quarters are slightly more difficult to find in VF and higher grades (some exceptions fall on the reduced diameter dates) than Bust Dimes. And Bust Half-Dimes fall somewhere in between Dimes and Halves in terms of availability in higher grades.
Therefore, the reason I collect Bust Dime's [by Die Marriage] is that they present a challenge to find original looking examples in VF and higher grades. They are still slightly underrated in value, when compared with the other denominations, although their small size and market demand keep the overall prices down (
). A complete date set in MS-60 can probably be assembled for $50,000 (or close to that); MS-63 $100,000; MS-65 $200,000.
Please add your observations, objections, comments below. And post a Bust Dime if you please
The series has generally low mintages from 1809 through 1837 (Lowest mintage (1809) = 51,065; Highest mintage (1835) = 1,410,000; Average mintage = 585,509 (8 dates are above this average, 12 dates beneath average)). So far, 123 different die marriages are known from these 20 different dates; 16 were ranked R5 or rarer, although a couple of those I now consider R4+ or just R4 in rarity.
Comparing mintages to contemporaneously dated silver issues (Half-Dime's, Quarter's, Halve's), the Bust Dime series has the 3rd lowest total mintage (only Bust Quarters have a lower total mintage compared with Bust Dimes of the same date)
The Mint produced approximately 2x as many Half-Dimes as Dimes between 1829 and 1837; in terms of face value the two denominations were essentially identical.
The Mint produced a little less than half as many Quarters from 1820 to 1837 (not continuous yearly mintages for each denomination); in terms of face value the two denominations were almost identical.
The Mint produced 6x more Half-Dollars during the same years they produced Bust Dimes; that turns out to almost exactly 30x more in face value for Half Dollars than Dimes!
3 Factors contribute to the rarity of Capped Bust Dimes
1) Lower mintages from a certain date put more stress on those coins in circulation since you need to make more transactions per coin when compared with dates of larger mintages; and a lower overall mintage per denomination will do just the same.
2) Add to that smaller denominations helped make change easier to create, and thus were theoretically handled more often than larger denominations, especially in the early 1800's.
3) And finally, each consecutive year which passes adds more wear to previously dated circulating coins; some restrictions apply (especially different types of hoarding).
Thus in theory, when looking at Bust Dimes, 1809 and 1811's should exhibit the greatest amount of wear in the entire series of the coins which remain in existence; these two dates represent the two lowest mintage's and two earliest dates in the series. And generally this is what is found; 1822 also has a low mintage and does not have many survivors graded VF or finer.
What I have noticed when collecting this series by Die Marriage is that some die marriages, and occasionally dates in general, just are scarce or down-right rare/non-existant in grades VF and higher; the exception would be if you had an essentially unlimited budget! Today I just passed 2/3's of the die marriages in the series (83 of 123) and I have been working on this series for 4-5 years. And while my pace may not seem rapid, average 17-20 new die marriages per year, I strive to find nice, original F/VF/EF examples with the occasional AU, G or VG depending upon rarity of die marriage. This alone limits my pace, but also know that I look EVERYWHERE and all the time for what new dimes are out there. If I didn't care so much about grade, originality, or surfaces I would easily have over 100 die marriages, and possibly 115-120 (I'm only missing the 3 toughest die marriages of the x16 R5 and rarer die marriages known in the series). Right now on eBay there are not more than a couple dozen raw, crusty and problem-free VF/EF pieces; trust me I look and keep track of them!
When you compare all my observations to Bust Halves, there's no contest, Bust Halves are just WAY MORE COMMON in grades VF and up (including die marriages); this is to be expected based upon my stats and factors. Capped Bust Quarters are slightly more difficult to find in VF and higher grades (some exceptions fall on the reduced diameter dates) than Bust Dimes. And Bust Half-Dimes fall somewhere in between Dimes and Halves in terms of availability in higher grades.
Therefore, the reason I collect Bust Dime's [by Die Marriage] is that they present a challenge to find original looking examples in VF and higher grades. They are still slightly underrated in value, when compared with the other denominations, although their small size and market demand keep the overall prices down (
). A complete date set in MS-60 can probably be assembled for $50,000 (or close to that); MS-63 $100,000; MS-65 $200,000.Please add your observations, objections, comments below. And post a Bust Dime if you please
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Comments
Don't have much to add other than:
1. These coins can breath.
2. I no longer own one of them.
Hey - that first bust dime would fit nicely in my son's collection
I could post a bust dime or two, but...
- Jim
<< <i>Love the coin Jim >>
Thanks, hchcoin.
- Jim
I might add that the estimated # of surviving Bust Dime's is around 235,000 if you take a 2% survival estimate.
The majority of these I notice are in G and lower grades. Compound that with problem coins (an additional est. 25%),
and >75% of existing Bust Dimes (176,250) I estimate to be in G and lower grades and/or problem-coins.
So you potentially have 50,000 Bust Dimes which exist as problem-free and VG or higher in grade.
Thoughts on this stat? (more problem-coins and/or a higher percent of G-and-lower graded dimes?)
All the rest look great
While working on my 7070, and then helping several friends build theirs, the half dimes and half dollars are
fairly easy to locate in VF-Ch AU. The dimes are much more difficult in this grade range. The quarters, like the dimes, are fairly easy
in VF, a little tougher in XF, and very tough in true AU.
<< <i>Larry, please find a different 1829
All the rest look great
But she always wins the ugly award in post such as this.
<< <i>My more casual observations align with your analysis, Winston.
While working on my 7070, and then helping several friends build theirs, the half dimes and half dollars are
fairly easy to locate in VF-Ch AU. The dimes are much more difficult in this grade range. The quarters, like the dimes, are fairly easy
in VF, a little tougher in XF, and very tough in true AU. >>
I would agree with this when discussing small diameter quarters other than 1832, and common die marriages, but the large diameter quarters are getting tough, 1832 and some of the higher R# die marriages in the small diameter quarters are like locating 4 leaf clovers.
<< <i>I would agree with this when discussing small diameter quarters other than 1832, and common die marriages, but the large diameter quarters are getting tough, 1832 and some of the higher R# die marriages in the small diameter quarters are like locating 4 leaf clovers. >>
Yes, my commentary was aimed at the common coins the average collector needs for the standard 7070 album. Rare die marriages sought by specialists are, well, rare in any grade/any denomination
<< <i>
<< <i>I would agree with this when discussing small diameter quarters other than 1832, and common die marriages, but the large diameter quarters are getting tough, 1832 and some of the higher R# die marriages in the small diameter quarters are like locating 4 leaf clovers. >>
Yes, my commentary was aimed at the common coins the average collector needs for the standard 7070 album. Rare die marriages sought by specialists are, well, rare in any grade/any denomination
And that's mainly because those coins are held for a LONG period of time. Very few Bust Dime die marriage collections (collections at least 75% complete) have EVER come on the market. The most recent may have been the Reiver collection from 2006, and before that the Russ Logan collection.
<< <i>Good read Stone - although it looks like I might as well give up........especially on the 29 curly......you will soon have all of them!
They are still out there Dimeman. Keep hunting and one will find its way to you