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Does a coin described as such sound interesting to you...
RYK
Posts: 35,801 ✭✭✭✭✭
or is it likely something that was not appreciated in the past, not currently appreciated, and not likely to be valued in the future?
"In his once-seminal [over 30 years ago] reference to the abc denomination, [universally acclaimed expert] wrote, "I can think of no U.S. gold coin of comparable rarity that has been more ignored and lightly regarded than the xxx." More than thirty years have passed, but the xxx remains rare and underappreciated, particularly on the cusp of Mint State."
Don't try to guess the coin [I have done my best to remove identifiable references]...just react to the face value of the description.
"In his once-seminal [over 30 years ago] reference to the abc denomination, [universally acclaimed expert] wrote, "I can think of no U.S. gold coin of comparable rarity that has been more ignored and lightly regarded than the xxx." More than thirty years have passed, but the xxx remains rare and underappreciated, particularly on the cusp of Mint State."
Don't try to guess the coin [I have done my best to remove identifiable references]...just react to the face value of the description.
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not the coin but most collectors would not realize a top pop 1859 S gold dollar was the series rarity in top condition.
My first impression from reading the description is of a coin that is not currently appreciated, and not likely to be valued in the future.
<< <i>or is it likely something that was not appreciated in the past, not currently appreciated, and not likely to be valued in the future?
"In his once-seminal [over 30 years ago] reference to the abc denomination, [universally acclaimed expert] wrote, "I can think of no U.S. gold coin of comparable rarity that has been more ignored and lightly regarded than the xxx." More than thirty years have passed, but the xxx remains rare and underappreciated, particularly on the cusp of Mint State."
Don't try to guess the coin [I have done my best to remove identifiable references]...just react to the face value of the description. >>
My first impression is that "ignored," "lightly regarded" and "underappreciated" take the wind out for me.
I don't think there's a need to mention the idea 3 times in a short description. The combination of superlatives and dismissive descriptors is a strange mix.
<< <i>The expert made that remark more than 30 years ago. Is the coin still generally ignored by collectors? Edited to add - in your opinion RYK, not the dealer trying to sell it.
My first impression from reading the description is of a coin that is not currently appreciated, and not likely to be valued in the future. >>
The description was written by an auction cataloger. I saw the coin in person in Rosemont, liked it a lot, thought it was expensive, and moved on. I did not immediately recognize that it was a special date--just a very nice coin. When I returned home and had the chance to research it, I believe that the auction description was spot on.
IMO, coins tend to become less appreciated over time, as we gather more information. Often gold coins "turn up" which were not known to the market: from old collections, from European hoards, from shipwrecks, etc. Some that come to mind, in my area, include the 1842-C SD $5 and the 1858 $10. Both coins are formidably scarce but not as rare as was once thought. I have seen very few coins (cannot think of any off-hand) that were considered available years ago that are now considered scarce.
<< <i>IMO, coins tend to become less appreciated over time, as we gather more information. >>
I think that's a reasonable hypothesis.
However, I still can't stop thinking that the description coupled with expensive price indicates the dealer really wants you to think the coin will greatly increase in value - and wants you to pay for that expected increase now - when history has shown that it never really has.
<< <i>
<< <i>IMO, coins tend to become less appreciated over time, as we gather more information. >>
I think that's a reasonable hypothesis.
However, I still can't stop thinking that the description coupled with expensive price indicates the dealer really wants you to think the coin will greatly increase in value - and wants you to pay for that expected increase now - when history has shown that it never really has. >>
Just to clarify--the description was written by the auction house, when the coin previously sold. It was not written by the dealer who was offering the coin. In fact, a dealer lackey showed me the coin and had no other information to give me other than the price. The price was not unreasonable, given the scarcity and previous price history. It's just a coin that you pick up and do not expect it to be as expensive as it is.
Not really looking for much these days but if I were, it might be a toner.
It sort of reminds me of Classic Commems. - underappreciated for years, and likely to remain that way for a season.
- Jim
I will be happy to do so when I know that the coin is no longer on the market. I am considering purchasing it myself.
However, I think that this scenario is probably applicable to numerous coins in many series.
<< <i>or is it likely something that was not appreciated in the past, not currently appreciated, and not likely to be valued in the future?
"In his once-seminal [over 30 years ago] reference to the abc denomination, [universally acclaimed expert] wrote, "I can think of no U.S. gold coin of comparable rarity that has been more ignored and lightly regarded than the xxx." More than thirty years have passed, but the xxx remains rare and underappreciated, particularly on the cusp of Mint State."
Don't try to guess the coin [I have done my best to remove identifiable references]...just react to the face value of the description. >>
Sounds like a quote from David Akers. If it is, I could probably look it up since I have all his books but I'll honor your wishes to not guess. Usually, when a coin is underappreciated it's because it's part of a difficult series where the number of serious collectors attempting to assemble a complete set are actually rarer than the number of extant coins. Probably an early S mintmark Liberty gold $5 or similar type coin.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
The number of people that will pay an expensive price for an under appreciated coin is pretty small. This is a collector's coin, not an investment coin.
The only way to bring coins down in price that are too expensive is to be strong and await a better deal.
please post pictures of teh shiny shiny k thx bye lol.
I am reminded of a statement that our beloved IGWT once made to me at a show here in Maine about his beloved shield nickels. "They are a series with tremendous potential. The problem is that they always will be."
<< <i>I am reminded of a statement that our beloved IGWT once made to me at a show here in Maine about his beloved shield nickels. "They are a series with tremendous potential. The problem is that they always will be." >>
That is a fine quote!
Not really looking for much these days but if I were, it might be a toner.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
as a newb, it makes me wonder, but I'd never go off one opinion, even an experts opinion, that's 30 years old.