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Coins that used to be undervalued... but aren't any more
rhedden
Posts: 6,650 ✭✭✭✭✭
Periodically, an opportunity arises to purchase coins that seem way too cheap for what they are. Often, many collectors seize that opportunity to start collecting or hoarding a particular series, and the value inevitably increases with time as demand catches up with supply. Here are a few recent examples:
1) Plain old GSA "CC" Morgans... could be bought in my local coin shop for $50 or less in 1995. That was way too cheap, and now look at them....
2) Nice XF-AU Bust halves. Less than 5 years ago, Bid was $65 for an XF common date Capped Bust half, and many could be found at shows for that price or slightly higher, often unattributed. Now Overton madness has seized the market, and nice original coins with pleasing tone are going for insane prices, if they can even be located.
3) Nice F to AU Barbers with original surfaces. This topic has been beaten to death on these boards, but it's a great example. Nobody wanted these coins even 5 years ago, but they're expensive now and they're gaining momentum at an alarming rate.
4) Red & brown indian cent proofs that are actually blue, green, or other crazy colors. To think these coins used to be worth less than a Red example with less eye appeal....
These coins aren't really undervalued any more. The price was too low for too long, and collectors figured it out. I'm sure there are many other examples, so feel free to add your favorite to the list below.
1) Plain old GSA "CC" Morgans... could be bought in my local coin shop for $50 or less in 1995. That was way too cheap, and now look at them....
2) Nice XF-AU Bust halves. Less than 5 years ago, Bid was $65 for an XF common date Capped Bust half, and many could be found at shows for that price or slightly higher, often unattributed. Now Overton madness has seized the market, and nice original coins with pleasing tone are going for insane prices, if they can even be located.
3) Nice F to AU Barbers with original surfaces. This topic has been beaten to death on these boards, but it's a great example. Nobody wanted these coins even 5 years ago, but they're expensive now and they're gaining momentum at an alarming rate.
4) Red & brown indian cent proofs that are actually blue, green, or other crazy colors. To think these coins used to be worth less than a Red example with less eye appeal....
These coins aren't really undervalued any more. The price was too low for too long, and collectors figured it out. I'm sure there are many other examples, so feel free to add your favorite to the list below.
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EBAY Items
http://search.ebay.com/_W0QQsassZrlamir
Braided Hair Large Cents in 5 BN 5 RB
Liberty Nickels in PF 6
Proof Braided Hair Hair Cents
Type Seated Dimes & Qtrs in MS 65 & 6*
Type Barbe Dimes & Qtrs in MS 65 & 6*
1883 N/C Liberty Nickels in all grades under MS 67*
* These have materially dropped in price during this time period
"Seu cabra da peste,
"Sou Mangueira......."
If we tell you what we think is undervalued now, we might be able to add it to this thread tomorrow morning in the "not undervalued any more" category!
<< <i>1938 D Walkers.............Rick >>
A very overrated coin...especially at today's prices.
Now the prices are getting out of sight. I'm glad I have the coins I now own because as a middle class collector, I could not afford much more than junk now.
True. Current prices are getting out of range for most people, especially with early copper. On the other hand, we'd all be sitting here moaning & groaning if our holdings never increased in value.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>as a middle class collector, I could not afford much more than junk now
True. Current prices are getting out of range for most people, especially with early copper. On the other hand, we'd all be sitting here moaning & groaning if our holdings never increased in value. >>
Not everybody. I wouldn't. I would much prefer that my collection of early bust material was still worth half of what it is now like it was when I bought a lot of it. Why wouldn't I prefer that? It's not for sale, anyway.
Obscurum per obscurius
1859-S Qtr
1860-S Qtr
1849-O Qtr
1861-S Qtr
1866 Qtr
1859-S dime
1856-S dime
1894 Morgan dollar any grade
1799 Large cent G-VF
To name just a very few.
1799 is the only date I'm missing from 1793-1857, and I have no intention of getting one any time soon, unless I turn one up metal detecting (hah). These would have been a steal 5 years ago if I had the guts to buy one.
How about Chain cents? They have gone through the roof. Even a VG coin is approaching $10,000.
Anybody who's looked through Wheat rolls can tell you that copper wheats die in staggering numbers because of corrosion, etc. as well as all the ones with mint wash webbing, copper turning brown etc. Even ones in tubes corrode, so ones that are preserved and full red in high grade will eventually command a much higher premium in raw form and slabbed as collectors go after the entire 1909-58 series. The populations will rise as people dig up old BU rolls but so will demand, and I believe demand of full red gems will outstrip supply after 2009, especially considering how shoddily these coins are treated by most people.
<< <i>What about the 1792 Half Disme? >>
I thought I got "all the money" when I sold Stacks one in Choice XF for 18 Grand. Passed on a VG from Don Kagin for 4200 bucks.
Ahhhh the good old days
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870