How do you define low mintage?

dbldie55 · February 16, 2007 2:16AM

I see people calling bullion coins with a mintage of ~6,000 low mintage. At the same time, a late 1800 - early 1900 proof with a mintage of 2,000 is not considered low mintage. Neither are circulating coins (although the early proof may have been).

What is a true definition of low mintage (and thus a "rare" coin)

itsnotjustme · February 16, 2007 2:19AM

I consider both your examples low mintage.

elwood · February 16, 2007 2:28AM

Low mintage can vary from series to series.

For example a low mintage for one series could possibly he a high mintage for another series.

Low mintage doesn't aways mean "rare" because of varying survival rates.

cladking · February 16, 2007 2:40AM

<< <i>Low mintage can vary from series to series.

For example a low mintage for one series could possibly he a high mintage for another series.

Low mintage doesn't aways mean "rare" because of varying survival rates. >>

I agree. Low mintage is not only relative within a series but also to demand. Supply
is also highly dependent on survivorship so an absolute low mintage may not be as
difficult to find as coins with higher mintages.

Zoins · February 16, 2007 2:47AM

It depends on how you want to use the term low mintage. If you are primarily using it to gauge price then it is more closely tied to demand. For example, people say certain modern NCLT issues with mintages in the 100,000s have "low mintages" because demand has driven the price up, however you can still purchase many of these most days of the week, i.e. they are available on the market.

However, if you are using it to determine how often something comes up for sale, then it may not be as tied to broad market demand. For my purposes, I've been using "low mintage/survival" to mean something that you rarely see for sale, in which case I've been using the number 100 lately. That's just a general rule of thumb that does not apply to every series but low mintage/survival to me means something that's rarely on the market, i.e. if you want it, you may have to approach the/an owner directly.

The China 1982 Platinum Panda has a mintage of less than 10 which I consider low.

mrmom · February 16, 2007 2:48AM

It is all relative.

2006-w unc. ASE-- les than 1/2 million -----low mintage, trades 4-5 times spot.

1997-2000 Platinum proofs--over 10,000---high mintage, trades little over spot.

Zoins · February 16, 2007 2:58AM

One reason I don't like tying "low mintage" to demand is that demand can fluctuate and even decrease so does something that formerly had "low mintage" suddenly have "high mintage" when demand drops? I prefer to think of it as "demand exceeding supply" enough to drive up market prices. What many people mean by "low mintage" is really "low supply relative to demand".

ziggy29 · February 16, 2007 3:04AM

I tend to stay away from touting mintages as a relative indicator of scarcity. There were 10,817 1874-CC dimes minted. I don't recall the best estimates off the top of my head, but I believe it's estimated that about 50 exist. Of those, many are damaged, cleaned or of relatively low grade.

A new bullion coin with a mintage of (say) 2,000 probably has 2,000 (or very close to it) pieces still extant, and furthermore almost all of those are preserved in very high mint state or proof condition.

The other question is whether one uses the term "low mintage" as a relative term (relative to the series) or in absolute terms. An 1909-S VDB isn't a "low mintage" coin in absolute terms but relative to its series, it is.

ricko · February 16, 2007 3:08AM

Demand drives price. Low mintages sometimes drive demand among speculators, thereby temporarily driving price. Cheers, RickO

Prethen · February 16, 2007 3:16AM

For circulating coinage, I would say under 100,000 is low mintage. You might say under 250,000 is fairly low. When you get under 50,000, I think not only is it low mintage territory but generally speaking you'll find pretty low survivorship and difficult to find decent specimens. Under 10,000 it gets increasingly difficult to find decent material and prices will definitely reflect this. Once you get under 1,000, things can get pretty ridiculous price-wise (relatively speaking) and finding ANY material.

How do you define low mintage?

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