Difference in Value of Low Mintage Coins

TigersFan2

A few days ago, someone posted a list of 20th century coins with mintages of 2 million or less. It got me thinking how low mintage coins can have such a wide variance in value. How many have been preserved in various grades and the popularity of that series of coin play an important part in the value. Whereas a 1916-D Mercury Dime, the 1916 Standing Liberty Quarter or the 1893-S Morgan Dollar are likely priced out of the budgets of many collectors, almost all collectors can likely afford an equally low-mintage 1875 or 1876 Three Cent Nickel, a 1881 Shield Nickel or a 1912-S Liberty Nickel.

Here's a list of coins with their mintage and current PCGS Price List value. Number in parentheses is the mintage. The 3 prices are for G4, XF40 and MS63.

1909-S Indian Cent (309,000): $400 $700 $1,400
1875 Three Cent Nickel (228,000): $18 $49 $275
1876 Three Cent Nickel (162,000): $18 $49 $285
1881 Shield Nickel (68,800): $275 $725 $1,500
1912-S Liberty Nickel (238,000): $160 $950 $2,300
1916-D Mercury Dime (264,000): $800 $5,750 $15,500
1914-S Barber Quarter (264,000): $135 $875 $2,400
1916 Standing Liberty Quarter (52,000): $3,250 $10,000 $18,000
1885-CC Morgan Dollar (228,000): $600 $625 $750
1893-S Morgan Dollar (100,000): $2,250 $9,500 $225,000
1894 Morgan Dollar (110,000): $850 $1,300 $5,900

To compile this list, I attempted to stay between the late 19th century and early 20th century coins. There are similar low mintage coins during the early and mid-19th century, but the values are like comparing apples to oranges.

FullStrike

Of course Granny shuffling into a small time Coin Shop would be lucky to get $5 for any of those.

rhedden

Although the typical surviving condition of the coins varies, and that clearly affects the price in a given grade, you can basically rank these coins in order from least popular to most popular series and you'll get the right price trend. Popularity of a series is such a big factor in coins that it often trumps rarity.

TigersFan2

And remember how as kids when we got our Whitman folders for Mercury Dimes, the 1916-D hole was already plugged with cardboard with the words "rare." One of the first things many of us learned about coin collecting is that the 1916-D Mercury Dime is rare and highly coveted.

Overdate

The Morgan dollars on the list have the additional complications of both long-term storage and massive melts by the federal government, making original mintage figures almost useless in some cases. The wide price difference between the 1893-S and 1894 Philly Morgans, despite their similar mintage, is a case in point. The outsized popularity of the CC mintmark also affects the pricing structure of Morgans in a big way.