1956 Franklin Type 1 hide-n-seek.

keets · June 16, 2003 1:05AM

In his encyclopedia, Breen estimates that approximately 5% of the 1956 Proof mintage are Type 1's and lists sources that would seem to give at least reasonable credence to the estimate since there are 2 which i'd assume were arrived at independently. No doubt, all the Type 1 coins were struck early in the run and all are from the same group of dies. With all things considered to be equal---sure!!!---and figuring at a 19-1 ratio, just using the current PCGS pop report as a reference which lists 1,751 Type 2 CAM/DCAM coins and 37 Type 1 CAM/DCAM, it seems there should be quite a few more Type 1 coins holdered. Further, if you consider the current pop report numbers for brilliant coins with the same 19-1 assumption, there are actually more Type 1 coins holdered than would be expected.

Given the premium paid for Type 1's, I think they would be attributed if they existed, and the high number of brilliant submissions tends to bear that out. Strangely, the local dealer bought some sets about 3 months ago of various dates and we found two Type 1's out of approximately eight 1956 sets, high considering the above numbers. I know for a fact that many collectors aren't even aware of the varieties so there may be coins held by collectors in proof set runs.

Any thoughts on this true modern rarity in CAM/DCAM? Do you think the estimates are valid? Do you think it's just a case of poor die preperation early in 1956 which resulted in less frosted Type 1 coins?

Thanks.

Al H.

LucyBop · June 16, 2003 1:15AM

It does seem that that since the type 1's were struck first with fresh dies more cam/dcams should be out there.... but the pops suggest otherwise..... I think that your right in saying alot of people may have them and not realize it........ and your last statement seems very plausable to me...... a modern mystery of sorts.?

nwcs · June 16, 2003 1:26AM

What are the diagnostics of a type 1?

kieferscoins · June 16, 2003 1:28AM

Type 1 thread from last week with pics

Cameron Kiefer

joeyuk · June 16, 2003 1:28AM

The math shows me about 6% are type-1 if you consider PF,CAM and DCAM. Also I would think the number of cameo pieces would be in the same proportion. It was the life of one die(probly the first) which made the type-1's.

FC57Coins · June 16, 2003 1:31AM

Al:

I think part of the problem is that since 1956 proof sets in general are rather common, many of the coins might still be held by collectors who really don't know what to look for. In addition, you have to look at all the Franklins that have been graded by NGC and some of the third tier graders. Given the fact that in general 1956 Franklins are not very rare, you figure that the desire to get them graded by PCGS or NGC isn't all there unless you know what you have up front - just my thoughts on this.

Frank

keets · June 16, 2003 1:32AM

the easiest is on the small reverse eagle. if you look to the left of the perch he's on, the Type 1 coins have 4 wing feathers while the Type 2 coins only have three. if you have a limited number of 1956 proofs to look and compare, you can use earlier/later proof coins or even MS coins to be able to look at both types. once you recognize the 2 varieties you'll always check for it, guaran-damn-teed, especially with the premium on the cam's.

al h.

MAULDEMALL · June 17, 2003 5:44AM

Hey keets...I got one last week......FOR $16.00....... to tell you the truith I don't think that dealers know to look for it.
I was questioning LUCY last year about the diff.........I have been checking out every Franklin I came across It took me a year but I got a REAL SWEET DEAL.

1956 Franklin Type 1 hide-n-seek.

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