What caused the price drop in proof mercury dimes and walking liberty half dollars?

bosco5041

I have noticed that the price has dropped quite a bit in the last few years. Is it just a market cycle for them going out of favor or did the pops get to high or what? I'm talking about the later dates in proof 65 and 66. Would it be a good time to buy some for speculation?

Manorcourtman

Haven't Walker pops have really exploded in the last 10 years? But you are right about Mercury dime proofs! You can buy the later dates in GEM grades for less than $200. When I got back in the hobby in 2001/2002 prices were much higher!

oih82w8

IMO, I think that the availability is exceeding demand, or it could be artificially populated by resubmittals to TPG, or someone may have stumbled upon a hoard, etc...

BUFFNIXX

I think it is all about supply and demand. Not enough young'ns care about putting proof sets of these coins together. Some may be putting together circ sets, and others going for unc. sets but not than many attempting to go for a complete run of the proofs. The price of the 1936 coins may be a limiting factor here to the potential set builders.

SAM5969

Lack of demand
Increase of supply
It's a law

jdimmick

I think the above pretty much summed it up. Too much supply on market, and not enough buyers.

and I might add, if the coins in question are not all there and nice, they languish in the show case.

291fifth

The demand for birth year coins is declining as the people who were born during those years pass from the scene. Mintages were much higher than in the mid-30s so many more, now too many, are available.

Staircoins

A large group of gem proof Walkers was put into the market a year or two ago (by Legend IIRC), with predictable results on prices.

Bayard1908

Be careful. When prices for a PR66 Mercury went to $200 in 2008, I figured they couldn't go much lower and backed up the truck. Of course, they went 20% to 30% lower after that. I flipped mine fast enough to avoid getting hurt; but, anybody who bought and held is buried.

They are great coins, absolutely beautiful; but, they are available in quantity any time you want them. Unless it's a rip, I wouldn't buy any that aren't special, e.g., early dates, cameos, old holders, fantastic toning, etc.

A few years ago, Stack's or maybe Bowers & Merena sold a truckload of proof Walkers that reportedly were a hoard from Spain. There were literally dozens and dozens of proof Walkers in consecutive auctions, often sold in lots of five or more coins.

yellowkid

I don't think the future, from an "investment" standpoint, bodes well for collecting much of anything. Collect for the enjoyment.

bosco5041

<< <i>I don't think the future, from an "investment" standpoint, bodes well for collecting much of anything. Collect for the enjoyment. >>

Would you care to go into more detail ??

bosco5041

Thanks for your replies, everyone. I just got finished with the chapter of "Market cycles" in Dave Bowers book and it was very interesting. I'm a collector at heart but I think most of us want to at least make wise choices with our purchases. I purchased my two at the height of the market so I will just be buried in them and enjoy them.

Overdate

I think the weak economy is partly responsible for the lack of demand, which affects several other series. Plus a lot of collector money is being diverted to the cascade of new offerings from the Mint.

ricko

A good point was made by 291fifth regarding age and nostalgia....also the market is rather saturated at this time.... Good for collectors, not good for investors....Cheers, RickO

ColonelJessup

Does anyone remember the huge hoard of '36-'42 proof set that were sold off at auction a couple of years ago (SBG?).

Is a PR67 Walker or Merc remarkable enough to be noticed? What's the premium for a gorgeous proof ASE or Frankie over a pretty one? Made with industrial quality; likeable only CAM/DCAM for drama or vivid color. A (no-sun but) rich cameo '36 WLH like MJ's comes along every 5-10 years or so.

The perfect storm of widgetization is complete. These series will likely underperform silver bullion and classic Commems over the next 10 years. At least a 44-D 10c in 67FB or MS64 Maine might be pretty. Some war-time Walkers likewise.

On the demographic; how many under 50, even here, remember buying a comic book or Coke or Hershey bar with a Merc, or pushing one into a Whitman board after the thrill of pulling it from circulation?

My guess is that roadrunner can give a more incisive analysis, which I'd love to hear.

valente151

<< <i>Not enough young'ns care about putting proof sets of these coins together. Some may be putting together circ sets, and others going for unc. sets but not than many attempting to go for a complete run of the proofs. The price of the 1936 coins may be a limiting factor here to the potential set builders. >>



20 years old and working on the Proof mercs. After this I might do the walkers. What attracts me is how short the set is- it's a length my ADD can handle lol

My key to this set has been to focus on coins with attractive color. Yes- the white coins are easy to find and sit in cases. But the toners are tough to find nice. I've gotten to the point where I have several dupes of several years. I buy them when I find them pretty. In fact, I just got two 1941s this morning in from heritage- I'll post a photo after I get out of class.

Now if only I could find a 1936 with nice toning that isn't graded 67 and out of price range!

Justacommeman

<< <i>

<< <i>Not enough young'ns care about putting proof sets of these coins together. Some may be putting together circ sets, and others going for unc. sets but not than many attempting to go for a complete run of the proofs. The price of the 1936 coins may be a limiting factor here to the potential set builders. >>



20 years old and working on the Proof mercs. After this I might do the walkers. What attracts me is how short the set is- it's a length my ADD can handle lol

My key to this set has been to focus on coins with attractive color. Yes- the white coins are easy to find and sit in cases. But the toners are tough to find nice. I've gotten to the point where I have several dupes of several years. I buy them when I find them pretty. In fact, I just got two 1941s this morning in from heritage- I'll post a photo after I get out of class.

Now if only I could find a 1936 with nice toning that isn't graded 67 and out of price range! >>



I've been working on my Walker proof set for 7 years and still need one coin. Extraordinary Proof Walkers are not easy to procure.

I just own one Mercury and its cameo designated. Not sure if I will pursue any others

MJ

vplite99

<< <i>Lack of demand
Increase of supply
It's a law >>

Baley

Dipped out examples are readily available; original ones not so much, and original ones vary greatly in appearance. Extraordinary coins still bring extraordinary prices, I think, but yes, the dipped out ones have fallen. I've got a 1941 dime and 1940 half in PCGS holders that appear to have original surfaces, the dime has nice color all around but the half is probably better described as hazy, though has muted color when tilted.

Walkerfan

<< <i>Dipped out examples are readily available; original ones not so much, and original ones vary greatly in appearance. Extraordinary coins still bring extraordinary prices, I think, but yes, the dipped out ones have fallen. >>





Good material will continue to be in demand and bring even stronger prices in the future.

Valente151--I always knew there were a lot of YNs still out there for the future of this hobby BUT it is still very GOOD to hear the affirmation from guys like you. Glad to know that you're there and good luck in your pursuits!

cladking

It wasn't so many years ago I passedon a nice original 1937 proof set for $200 because
I wanted a nice choice buffalo nickel and this set had what would grade a 65 or 66 today.
The best coin in the set was the half dollar which was stunning. The quarter was ho hum
and the dime was little better. The cent wasn't too nice even if it didn't have a small cor-
rosion spot.

Of course now I wish I had bought it and sold everything but the nickel and half since I
never did locate a nice buffalo in a set at a favorable price.

These coins have always deserved more demand than they get but the high prices from
a few years ago were speculative. Their day is coming but it might not be any time soon.