THIS is a rare quarter!
Billet7
Posts: 4,923 ✭✭✭
Decently rare anyway, not super high grade, but still very tough to find in this grade range (although I am aware of a similar coin that is currently available from a certain specialist right now, I'm suprised that it's still available. ) This is a new seated quarter purchase. This is for all those who thought I was getting out of the seated quarter game!
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Comments
<< <i>Looks like it was carried around by a coal mine worker!! Love it!! >>
Really? How so?
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<< <i>Looks like it was carried around by a coal mine worker!! Love it!! >>
Really? How so? >>
It looks like it is coal dust encrusted! Very crusty and original.
A very scarce coin. I love the look of Billet7's example. Very nice circ piece with great eye appeal. I would be all over that coin if offered to me.
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<< <i>Looks like it was carried around by a coal mine worker!! Love it!! >>
Really? How so? >>
It looks like it is coal dust encrusted! Very crusty and original. >>
Oh, I see. Thought maybe there was some story behind it that I didnt know.
I would be willing to wager that very few people know offhand why this is so scarce a coin...and how few there really are in existance.
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>closed 3 >>
Yup. How many are there?
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<< <i>closed 3 >>
Yup. How many are there? >>
Not many, and the examples that are offered for sale are undervalued. Supply and demand: the supply is extremely limited, but the demand is also relatively low because many numismatists do not understand the issue. The 1873 Closed 3 25C is a sleeper. For those who do not think so, just try to find a nice, problem-free example for sale. The rarity of this issue blows many much higher priced coins out of the water. For example, compare this issue to many Dahlonega or Charlotte gold pieces, or better yet, a 1916 quarter.
The 1916 has an estimated 10, 000 in existance, 500 in MS grades.
The 1873 closed three has....wait for it....140 TOTAL, only four in MS grades.
PCGS priceguide shows an F12 1916 as $6, 200.00, the closed three at $600ish. This makes it a coin that is nearly 100 times more rare and 10 times less expensive in that grade.
Btw, you won't likely find one for sale that is anywhere near the the priceguide listing.
There is only 1 of these in the F12 grade certified by PCGS, THIS ONE!!!
Billet7, that was my point about the 1916 slq. It is overrated, and/or the 1873 closed 3 quarter (and several other issues) are underrated.
<< <i>Billet7, that was my point about the 1916 slq. It is overrated, and/or the 1873 closed 3 quarter (and several other issues) are underrated. >>
I know, I just wanted to illustrate the point. I was just balking at the so-called 1916 rarity. Still its more rare than many key dates.
<< <i>value and extant numbers aside, is comparing this to the 1916 really a good example?? that renders it to a supply-and-demand equation that the 1916 SLQ will win every time. >>
That's the point. The 1873 Closed 3 25C is a sleeper coin, and is undervalued. The 1916 became well known as a "key date" by the 1930s due to its low mintage and challenge to find in circulation. Since then, it has received plenty of attention in books, press, etc. Even non-collectors (i.e. investors) will buy a 1916 quarter because it is a "key date" coin.
And you are correct about supply and demand; more people collect SLQs by date/mintmark/variety than Seated Quarters, hence the lopsided value of the 1916 25C to the 1873 Closed 3. However, imagine if 150 wealthy collectors decided to build a COMPLETE collection of Seated Liberty quarters. Just imagine....
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<< <i>value and extant numbers aside, is comparing this to the 1916 really a good example?? that renders it to a supply-and-demand equation that the 1916 SLQ will win every time. >>
That's the point. The 1873 Closed 3 25C is a sleeper coin, and is undervalued. The 1916 became well known as a "key date" by the 1930s due to its low mintage and challenge to find in circulation. Since then, it has received plenty of attention in books, press, etc. Even non-collectors (i.e. investors) will buy a 1916 quarter because it is a "key date" coin.
And you are correct about supply and demand; more people collect SLQs by date/mintmark/variety than Seated Quarters, hence the lopsided value of the 1916 25C to the 1873 Closed 3. However, imagine if 150 wealthy collectors decided to build a COMPLETE collection of Seated Liberty quarters. Just imagine.... >>
That is a pretty strong imagination.
In honor of the memory of Cpl. Michael E. Thompson
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<< <i>value and extant numbers aside, is comparing this to the 1916 really a good example?? that renders it to a supply-and-demand equation that the 1916 SLQ will win every time. >>
That's the point. The 1873 Closed 3 25C is a sleeper coin, and is undervalued. The 1916 became well known as a "key date" by the 1930s due to its low mintage and challenge to find in circulation. Since then, it has received plenty of attention in books, press, etc. Even non-collectors (i.e. investors) will buy a 1916 quarter because it is a "key date" coin.
And you are correct about supply and demand; more people collect SLQs by date/mintmark/variety than Seated Quarters, hence the lopsided value of the 1916 25C to the 1873 Closed 3. However, imagine if 150 wealthy collectors decided to build a COMPLETE collection of Seated Liberty quarters. Just imagine.... >>
That is a pretty strong imagination. >>
Definitely a strong imagination there! But if ten people decided to start significant collections of Liberty Seated Quarters, that would impact the market. Ten people deciding to collect Morgan dollars wouldn't even be a blip on the radar screen.
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>Dennis, my point was that the 1873 closed three is essentially a die variety of a long running series while the 1916 SLQ is a one year Type of a short series, and I agree with the point of imagination. >>
An 1873 Closed 3 quarter was struck with one set of dies, and the 1916 quarter was struck with a set of dies (maybe two?). R.6 and R.7 die marriages of bust dollars and halves draw big premiums. Why not a Seated quarter?
And yes, I have a big imagination. Probably from reading about the dozen or so numismatists in 1830s America and how the supply/demand scenario effected prices of ultra-rarities at that time, compared to today. Also, how the boom in the economies of China and Russia has driven the price of relatively common (slightly scarce) issues through the roof.
If you think my imagination is so big, then please tell me how many people collected Bust half dollars by die varieties in 1932. Please take a guess and post it here.
<< <i>Dennis, my point was that the 1873 closed three is essentially a die variety of a long running series while the 1916 SLQ is a one year Type of a short series, and I agree with the point of imagination. >>
The 1873 No Arrows Closed 3 quarter is not a die variety, it is a regular issue, just like the 1917 Type 1 and Type 2 quarters are both regular issues.
An authorized PCGS dealer, and a contributor to the Red Book.
The 1873 closed 3 is not a die variety, it is a regular issue no different from the change in design from the type one buffalo nickles and the type twos.
Numisma has some hopefull thinking, but has his head in the right place if you ask me. Seated quarters are a largely untapped reservoir for very rare coins, only a handful are truly appreciated for their rarity.
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