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When did AU Bust dimes catch fire??
Manorcourtman
Posts: 8,171 ✭✭✭✭✭
When did prices of Bust dimes in AU+ grades take off? Any insights are appreciated. Is the market now overpriced?
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If anything, MS pieces are generally underpriced. The overpriced pieces are the VF/EF's IMO.
- Jim
<< <i>Are you guys talking about capped bust or draped bust? Capped bust I assume, if so I don't think they are overpriced at the AU level either. >>
If you look at the last auction that contained great looking bust dimes which was Gardner in November - a 1824/2 dime is ms-66 sold for about$70k. There were others that sold for well over price guide. These bust dimes just don't come to the market that often and when they do they go for more the pcgs price guide. This is true not just for high mint state dimes but for au as well.
A fellow came in to the shop yesterday. He wanted SAE's. By the time we finished talking, he STILL would rather spend the boatload on a monster box. I mentioned a couple of Morgan Dollars, some pre 33 Gold , and graded classics that he could get which would leave "meat on the bone", in my opinion (much more than the ROI on bullion) …. and I tried to encourage him to see the light. He cannot see the light. I pulled out the magazines and even went to auction archives.
The most he can see is the value of going in HALVES with me on a monster box to get silver , for even less than my quoted price, because he likes "silver". I doubt very much those collectibles are affected too much by the price of silver or the cost of fuel for the car. However, any way we want, the saying is true :
"you can lead a horse to water, but you can't make him see the reflection of a mule."
Why coin dealers _______. (don't know) And you thought I was thinking "drink", didn't you all ?
That's my NON answer, and I'm sticking to it. What goes up, must go up.
``https://ebay.us/m/KxolR5
<< <i>Are you guys talking about capped bust or draped bust? Capped bust I assume, if so I don't think they are overpriced at the AU level either. >>
I was speaking of Capped Busts.
I need such a coin for my Registry Set, but I may as well wait for a MS example.
Lot 9746
At FUN, I landed this bust dime in AU58. Its from the Eliasberg collection and it is CAC'd. I found this in a dealers showcase with a dealer that I never did business with. This exact coin sold in Heritage last year for $2,200. I got it for alot less. Boy oh Boy - I was thrilled to get this coin. Even better yet, I didn't have this die marriage - JR-11 - rarity 2. I feel in love with this coin at first sight! And thought the price was very fair and reasonable.
``https://ebay.us/m/KxolR5
<< <i>People have to step up to the plate in numismatics, throughout the years. Just a quick strange and good example (as a lesson, I hope).
A fellow came in to the shop yesterday. He wanted SAE's. By the time we finished talking, he STILL would rather spend the boatload on a monster box. I mentioned a couple of Morgan Dollars, some pre 33 Gold , and graded classics that he could get which would leave "meat on the bone", in my opinion (much more than the ROI on bullion) …. and I tried to encourage him to see the light. He cannot see the light. I pulled out the magazines and even went to auction archives.
The most he can see is the value of going in HALVES with me on a monster box to get silver , for even less than my quoted price, because he likes "silver". I doubt very much those collectibles are affected too much by the price of silver or the cost of fuel for the car. However, any way we want, the saying is true :
"you can lead a horse to water, but you can't make him see the reflection of a mule."
Why coin dealers _______. (don't know) And you thought I was thinking "drink", didn't you all ?
That's my NON answer, and I'm sticking to it. What goes up, must go up. >>
Can't blame the guy for trying to buy something at 5 year lows and not far from 2006 levels. Maybe he's right? Did you tell people back in 1999-2002 to steer clear of silver as it had only gone down for 20 years? Silver returned a 10 bagger from that period. It's still up 4X. Probably better than than most bust dimes have fared in that same time. None of us here really know what the ROI on AU bust dimes, silver, gold, or stocks will be in the next 5 years. And no idea where the meat on the bone lies. It's all conjecture. If that customer had no previous holdings in precious metals, maybe this is what fit them at this time. I though numismatic coins were a great deal in 2002...and really didn't think bullion would blow them away like it did into 2011. Most people in the world can see value in a monster box of ASE's, Maples, Pandas, Libertads, etc. And they would also have a tough time substituting that for 10 AU bust dimes ($1 face in silver coin). I don't judge either side. Either position could be the better one at any time.
It's always the case that the prettiest and most appealing upper 5-15% of the bust dimes are probably "underrated." One could say that for most any popular series. It's likely that AU bust dimes are priced appropriately. Once promoters and dealers start pushing them, then things can get out of whack for a while. I remember the AU58 1813 bust half mania that one of our favorite dealers created about 7 years ago. Everybody wanted one. I almost wanted one too...lol.