Shopping spree for a key

jmcu12 · January 20, 2008 1:32AM

Hello all!

I am selling off some of my minor coins and am looking for a good single coin to purchase. I am estimating that after all is said and done that I will have $800-$1000 to spend on a coin.

Given that what should I buy? I am looking for a single key coin and am open to any suggestions, regardless of series; with the only caveat being that is has to be for a U.S. coin.

And given my somewhat limited budget, I suppose it could be a sub-key coin...something to that effect.

Oh and I would prefer business strike, but I would also consider Proof too.

Suggestions? I am giddy with anticipation!

rgCoinGuy · January 20, 2008 1:33AM

My only suggestion would be make it a PCGS certified coin that you like the eye appeal of. You want to give some more ideas to the board about what your intentions are, such as Keep it to pass down through the family, keep it until retirement, flip it in a few years, make it the cornerstone of your collection, etc..... Good luck!! Rob

gecko109 · January 20, 2008 1:36AM

Might be able to get a 1795 half in G6 for that money, if you are in the right place at the right time. Although the '94 is technically "the key", given its a 2 year series, both are keys in my eyes.

ambro51 · January 20, 2008 1:40AM

You could get a very nice 1972 DDO for that price
MS65RD or higher

savoyspecial · January 20, 2008 1:41AM

lower grade, but clean, 1877 Indian Head would be my choice

greg

gecko109 · January 20, 2008 1:43AM

<< Youre in a good price range for a nice Matte Proof Lincoln. Lots of nice BNs in this range which have excellent strikes and are beautiful when examined in detail.
Buy PCGS only. >>

Seems to be a heavy market promotion for those coins right now though. When all the dust settles, will MPL's be collected by more than perhaps 100 specialists in the country?

jmcu12 · January 20, 2008 1:44AM

My intentions are to hold on to it...but I would have to say that if it were to double or triple in price, something to that effect, then I might have to sell.

But for right now, I would like to hold on to it, appreciate it, and enjoy.

gecko109 · January 20, 2008 1:46AM

Well enjoying a coin is all in the owner's perspective. If it was a choice between owning a coin seldom seen, such as my earlier suggestion, or a coin that can still be found in circulation (wheat cents), I would choose the former. What series of coins interest you the most?

doh · January 20, 2008 1:50AM

I would look for a nice XF45 - AU55 1909-S Indian Cent. It's a coin with a solid collector base, is somewhat historical, and I think is very cool looking. Plus, with XF45 - AU55 you're getting a coin with tons of "meat" on it. Look for an example that is well struck...it might take a little time to find, but will be worth it in the end.

My second choice would be an AU55-58 Capped Bust Half from the 1820s. While not technically a "key," these coins are beautiful and amazing looking for 180 years old.

My last choice would be a 1912-S Nickel in XF. All I can say is good luck finding one. If you do and can get it for your price range, jump at it!

Treeman · January 20, 2008 1:52AM

Just find a nice Large Cent in MS65, or save a bit more money and find a nice 66. Though they are not thought of as such, most high grade Large Cents are semi-key coins. Find a nice one for the grade in PCGS or NGC plastic. Buy the coin, not the plastic! When actual rarity is considered, high grade Large Cents are CHEAP! If they ever became as popular as Morgan Dollars, your $1000 Large Cent would probably be worth $10,000 !!! Of course, that may never happen, but everyone does want one for a type, and they certainly are undervalued and fun to collect. This is only my opinion, and I am VERY biased, as the big old coppers have always been my favorite...

robkool · January 20, 2008 2:00AM

I would get a 1909 s vdb Lincoln in VG8 PCGS...

jmcu12 · January 20, 2008 2:01AM

<< What series of coins interest you the most? >>

I am typically a Morgan guy but I am interested in other series and I have just finished a lower grade type set (minus most of the gold and way-to-expensive issues like flowing hair varieties).

Long story short, I am branching out a bit. I have put some thought in to what this coin might be; a 1932 D or S Quarter or 1927-S SLQ but there are so many beautiful coins out there it is hard to make a decision so that I can begin my hunt.

BECOKA · January 20, 2008 2:05AM

You could get a nice PCGS MS61 1914 Indian Quarter Eagle. It's a semi key to the popular series.

mgoodm3 · January 20, 2008 2:06AM

Don't rush the purchase. Get whichever one speaks to you.

gecko109 · January 20, 2008 2:07AM

Treeman made an excellent point. Alot of stuff, especially large cents like he was talking about, are conditional rarities despite not being thought of as "keys". Next time you attend a major show, count up all the 1916-D dimes, 1909-S VDB's, all the 1932-S and D Washies and the like. Then count up all the 65 or 66 large cents you see, or all the slabbed flowing hair pieces. You will soon realize that those "keys" are actually pretty damn common! Just my opinion, but my $1,000 takes down a more esoteric type of coin than the more common key date coins that can be found just about EVERYWHERE.

TomB · January 20, 2008 2:18AM

Perhaps something you would appreciate looking for, looking at, sharing with others and enjoying?

RayNY2E · January 20, 2008 3:24AM

This is alot Like Buying a Car. A certain amount of Personal Preference has alot to do with your Choice. It would be Hard for Someone Else to Tell you what to buy since each of Us probably has their own Favorite Area of Collecting. Having Said That, you could Perhaps also give some Thought to a few Key Date Lincoln cents Which Seem to Be Doing Very Well As of Late. You could Go For One Coin for All your Money or Possibly 2 coins with that Money. Take a Look at the 1931-S Lincoln in PCGS 66RD,and see How it's soared Recently,just as one example. If you Bought one Of Those You'd still have a Nice Coin and Money Left Over for Another Purchase. Of Course there are Obvious Keys That have Already Been Mentioned,But take your Time and Decide What your Goal Is. Are you looking to Keep this Coin or Flip it For a Profit? Check out Some of The "Closed" Listings on Various Venues to get an Idea of Recent Sales and Trends. I Personally Find the "Coin Values" magazine that i get With Coin World Useless in the Real World. I Check out the Major Auction Houses recent sales and of Course E-Bay just to get an idea Of how Many are Listed, How many Go Unsold, The Amount of Bidding or Lack thereof,and Mostly i go by Recent Prices Realized and sales trends. Good Luck in Whatever You Decide. Ray in Florida..

percyb · January 20, 2008 3:29AM

I'd buy a slabbed Washington Quarter--1932 D or S.

seatedcoins · January 20, 2008 3:29AM

I like the 1909-s vdb idea. However, Maybe some of you have been around awhile could answer this.

Do certain coin series rotate back in and out of fashion like clothes seem to do? If so what series is out of demand now that should come back in 4 to 6 years. Maybe that would make a good investment.

NHSBaseball · January 21, 2008 12:46AM

A F/VF ish 1921-D Walking Liberty Half would be my choice. It's a popular series, and its inherently attractive design I believe will always attract a large base of collectors. A lot of people are attracted to the series because it can be completed by the collector of average means (myself included- it is the only series that I have completed to date). I seriously doubt that you would have a problem getting your money out of it or liquidating the coin if your interests change.

doh · January 21, 2008 12:52AM

I disagree with the 09-S VDB idea. The coin is at a high point right now...it might go a touch higher next year I suppose, but it's gonna come crashing back to earth (all 1909 Lincs will) in 2010 and beyond. I just don't think it's a smart purchase right now. That being said, if you LOVE the date and plan to hold onto it for quite awhile, the price swings shouldn't matter.

If you're a Morgan guy, maybe you should pick up a 79-CC in a PCGS 40 or 45. Talk about a tough coin and it should be right around $1000.

I do like what people are saying about early Bust coins (copper and silver) in PCGS holders. Those are very tough and have great appeal to a wide variety of people. You'll never hurt yourself by owning one.

UtahCoin · January 21, 2008 1:02AM

A nice PCGS F15 1889 CC Morgan

guitarwes · January 21, 2008 1:08AM

<< lower grade, but clean, 1877 Indian Head would be my choice

greg >>

I'd have to agree on this one. My local dealer just sold a nice one for $900.

lkenefic · January 21, 2008 1:34AM

<< 

<< lower grade, but clean, 1877 Indian Head would be my choice

greg >>

I'd have to agree on this one. My local dealer just sold a nice one for $900. >>

I was thinking along these lines a few months ago when I found myself in a similar situation. I just couldn't bring myself to pony up $900 for a barely G6 coin being slabbed in a VG10 holder. I decided to wait until I had closer to $1500 for this date and buy a properly graded F12... the take-home here is to beware of gradeflation for this date. Finding nice no-problem 1877's is tough even when they, ostensibly, are holdered.

'doh's analysis on the 1909-S vdb is probably accurate. I was also looking at this date as well and the auctions for F12-VF20 pieces were just going for what I considered to be moon money for coins that can be had a virtually any dealers table... I'm waiting until about 2011 for this one.

For the conditional rarities like MS65 or 66 Large Cents: I agree that there is alot of meat on these coins and they are truley stunning but you may be holding onto these pieces for quite some time when it comes time to sell. I suppose higher end type collectors will show interest but it's a rare collector that would be going for a date set in this condition.

Good Luck in whatever you decide to purchase and my only advice would be to make sure it's something you like to look at...Leo

bstat1020 · January 21, 2008 1:42AM

How about a 1872 proof 2 cent piece? Even harder yet a 1872 MS 2 cent piece?

Tough to find.

STONE · January 21, 2008 1:59AM

I would say go for the bust quarters, key date/ semi-key date, or not.

Any bust quarter right now is still very undervalued and will/ should dominate the market in the next 3-5 years.
If you go this route, I would suggest aiming for the 1815, 1822 (definitely), and 1828. If you want the Draped Bust quarters, then go for any date in the series.

Try to buy problem free and coins in grades of F-12 and higher.

Good luck and let us know what you decide.

MidLifeCrisis · January 21, 2008 2:20AM

I think you have to be very careful buying "keys" at the $800-$1000 price level. Most of the coins touted as keys are not really rare...only rare relative to the rest of the series. There are usually many examples of the popular key dates available any time you want to buy. Therefore, a lower grade example might be hard to sell later unless it's truly exceptional.

What about colonial era coins? I think that if you are willing to save and stretch a bit (but still under $1,500 or so) you could find a mid-grade R-3 or even an R-4 coin (76-200 known) that has an interesting story.

But if you wanted to stick with Morgans, you could get a nice, high-grade Carson City Morgan that may not be rare, but is cool.

coolest · January 21, 2008 4:05AM

No you wont have any trouble selling a VF 21-D halh$, you just will never be able to find one to begin with.

TomB · January 21, 2008 5:08AM

Regarding the 1921-D WLH, you won't find one in VF, either, for your price range. However, if one is looking for that coin in that price range you might be able to eventually find a nice F12.

Shopping spree for a key

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