Bust Dollars

Cladiator · March 29, 2007 6:26AM

Do you think these are overpriced?

1795 - 1803, Ranging from a mintage of 41,650 to 423,515 (Excluding the rare 1797 with a mintage of a mere 7,776). Based on those mintages I don't see how these coins should be in the multiple thousands of dollars for well circulated pieces. Is this more an issue of total survival rather than original mintage?

braddick · March 29, 2007 6:34AM

Not too overpriced.
Afterall, I only paid $169.00 for this one off of eBay earlier this month.

Cladiator · March 29, 2007 6:58AM

<< Afterall, I only paid $169.00 for this one off of eBay earlier this month. >>

Assuming that it's not a fake you got a good deal and it's a fluke. Show me another 1795 in comparable grade that can be had for a similar price?

mcheath · March 29, 2007 7:00AM

im not sure about the survival rate of these but coolness factor weighs heavily into their value being inflated. Who wouldn't want at least one if not a collection of them?

mozin · March 29, 2007 7:01AM

If dollar collectors start running out of money, then I would say the Early Dollars are overpriced. For most of us, they have been overpriced for some time. If I had the money, I would collect the Early Dollars. Sadly, it takes much much more money than I can spend on coins.

Cladiator · March 29, 2007 7:05AM

Ok so popularity is an added factor in their seemingly high premiums, that's valid. Are there other factors at play as well?

relicsncoins · March 29, 2007 7:10AM

<< Not too overpriced.
Afterall, I only paid $169.00 for this one off of eBay earlier this month.
>>

Have you conclusively proved it's the real deal? I think I would send it off to Anacs for authentication.

JJ

Regulated · March 29, 2007 7:16AM

Supply is never the only factor in economics.

Cladiator · March 29, 2007 7:20AM

So, are these simply priced so high because they appeal to everyone and those with big bucks bid high to win thus driving their values into the clouds?

Elcontador · March 29, 2007 7:25AM

Five or six years ago, these coins were scarce in XF & AU. I believe some people manipulated the market, as prices doubled almost overnight. They have been easily obtainable since then, if you're willing to ante-up.

Personally, I'll pass until the price comes back down. Another thing as that you'll find very few of them which haven't been doctored in some way, shape or form, raw or in a slab.

Cladiator · March 29, 2007 7:35AM

<< Another thing as that you'll find very few of them which haven't been doctored in some way, shape or form, raw or in a slab. >>

I've noticed that. Locating them in truely eye appealing, well circulated condition is quite a task. The super high prices seem to go with the eye appealing and nasty alike.

Nysoto · March 29, 2007 7:42AM

Demand, demand, demand. The earliest US dollar, the largest silver denomination, and no capped series to dilute their value. Compared to early halves (about 20,000-25,000 surviviors), they are probably twice as common for type, although estimates vary widely. Big collections have sold off, Bill L, Reiver, Cardinal, prices may be flat for some time. This is all good, their high demand keeps prices lower on my niche of early half dollars.

Cladiator · March 29, 2007 7:46AM

<< ...and no capped series to dilute their value. >>

That's an excellent point and one I hadn't thought of.

braddick · March 29, 2007 8:01AM

<< 

<< Not too overpriced.
Afterall, I only paid $169.00 for this one off of eBay earlier this month.
>>

Have you conclusively proved it's the real deal? I think I would send it off to Anacs for authentication.

JJ >>

It has been conclusively proven to be the real deal, but is on its way to ANACS anyway as it has been cleaned.

By the way, it was a thread that was opened here, on this forum, that allowed me to locate this coin.

mrearlygold · March 29, 2007 8:07AM

There sure are a lot more people buying early dollars and actually assembling collections of them now than at any other time I can remember.

And there's a lot of crap in plastic to fill that demand too. The nice coins are a lot tougher than most people think.

RichieURich · March 29, 2007 8:08AM

I think there is also the matter of collectors of Bust Dollars by die variety, collect multiple coins of the same date. Therefore, even the common dates and varieties have a following. It's similar to the way that 1794 large cents are scarce partly because the die variety collectors have 50 to 70 coins of the same date.

TomB · March 29, 2007 3:12PM

I think many folks have already touched on some of the important factors of very high coolness factor, short-lived design types, big silver coins, a certain amount of pressure from die variety collectors, scarcity in original, attractive and problem-free condition and survivorship. The extant pieces of this series have been estimated at between 3% and 5% by the likes of Walter Breen, David Bowers, Mark Borckardt and Jules Reiver, among others. Since the total issue for early dollars (1794-1803) is approximately 1,431,758 pieces, a realistic estimate of total coinage to form the available pool would be approximately 45,000 to 60,000 coins. This may seem like a large number, but take some time to spread the number across all the years of issue, the die varieties, the grade ranges available and the spectrum of originality and eye appeal and I believe within any defined niche there is a certain limit to the coinage.

Bust Dollars

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