Most overvalued coin

Wondo · December 8, 2003 1:01PM

How about the 1857s Double Eagle? Sounds sexy and rare, huh? Well here is a coin that PCGS has graded 4500+ in MS60 or better (mostly due to the shipwreck recovery I believe) but yet coins with condition pops of 150+ sell for $25k, pops of 1500+ sell for $10k.

Is this blatant hype or just a popular coin? I just bought some Double Eagles with total pops of less than 2000 (commons) in 64 for $1500ish!

Any other candidates for most overvalued coin?

Anybody disagree with my logic?

Cam40 · December 8, 2003 1:48PM

I think it is a popularity contest with coins too.

hype is a big part of selling in this hobby. sad but true.
we all buy into it in some area or other someday.
its just a part of the hobby.
this is where newbies get ruined on the hobby pretty quickly.

coppercoins · December 8, 2003 2:16PM

Hmm....most overvalued coin?

Try a few Lincolns on for size. Wildly popular and gaining steam, I think the 1909S VDB and 1922 'no D' are two of US coinage's most overvalued coins for what they are...especially the 1922.

ARCO · December 8, 2003 2:48PM

Ditto on the 1909-S VDB. I think the 1931-S lincoln cent is probably extremely pricy relative to its survivorship. I believe literally tens of thousands of mint state coins were saved and hoarded due to its lower mintage.

Tyler

KollectorKing · December 8, 2003 3:28PM

To me the 1893-S Morgan is overpriced. I have no desire to own any. For the same amount of $$, one can get some very nice 93-CCs or 89-CCs

Dave99B · December 8, 2003 3:39PM

Low grade (< VG) 1916-D dimes. They grow on fir trees up here in the Great NW....

Dave

braddick · December 8, 2003 5:51PM

<< <i>Ditto on the 1909-S VDB. I think the 1931-S lincoln cent is probably extremely pricy relative to its survivorship. I believe literally tens of thousands of mint state coins were saved and hoarded due to its lower mintage. Tyler >>

Overvalued? Mintage and survival rate vs Collector demand would take the 09-S VDB out of "overvalued" status!

There are some Patterns with a mintage of less than 50 that would rate as over-rated before the 09-S VDB would be placed in that catagory. (If there are only 30 collectors wanting one.)

Overvalued are coins that are popular TODAY but probably were not yesterday and may not be tomorrow.
The 09-S VDB is a Classic and always has been and always will be.
Even non-collectors know of this coin!

goose3 · December 8, 2003 7:42PM

<< <i>Most overvalued coin >>

.................

any coin that is raw and worth a fraction of it's value slabbed.

dorkkarl · December 8, 2003 9:32PM

<< <i>Most overvalued coin >>

any pocket change that sells for > face

K S

nwcs · December 8, 2003 9:51PM

1963 PF-70 DCAM 1C comes to mind.

291fifth · December 8, 2003 10:22PM

The 1909-S VDB and 1931-S Lincolns would be high on the list. I wonder just what the 1857-S Double Eagles bring in unreserved, true auctions. They are certainly a candidate for a big price drop over time based on their pop.

I have always found it interesting that price corrections in coins take a very long time to be noted in the price guides.