Most over rated coin

I really can't say as one mans junk is another mans treasure....

 

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You know Eduard, you are the kind of coin collector i wish I could be. You are very right about both of those coins. I'm not even a fan of the Lincoln series. But it is all supply and demand


Ruben

 

Yes! Yes! Yes!:hail:

 

Coins that are considered a variety when they are just an extremely worn die that made them.
1955 "So Called" Doubled die Cent
1937-D Three legged Buffalo Nickel
1922 No D Cents
Kennedy No FG Half Dollars
Speared Buffalo Nickels (The newer one)
To me these seem to be a distraction from what real variety coins are all about. Give me a coin with a good strike from a newer die (variety of course). Seems to be too much hype on these coins for what they really are.

 

1909-s vdb, there are thousand of high grade examples saved by collectors, other dates are more rare. Even 1916 Standing Liberty quarter is kind of over rated, there are many earlier quarters that have lower mintage and few of them save, yet nobody want them.

 

I think this is a very interesting question, but I like the term over-rated. I don't really know what over collected means. Over rated means to me that the value of the coin is inflated compared to the supply and demand.

There is no doubt that the 1909-S VDB Lincoln Cent is priced high compared only to it's original mintage but when compared to the surviving population and the incredible demand created by series and type collectors, I don't personally think that the 1909-S VDB Lincoln is overrated.

When thinking about the question, I tried to identify in my head what are considered the key dates of each series. After doing that, I concluded that the 1921 Peace Dollar is the most overrated coin IMO.

The original mintage although low by Peace Dollar standards is still over 1 million coins. The surviving population of TPG graded 1921 Peace Dollars is well over 20,000 coins in all grades, hardly a rare coin. When compared to another semi-key of the series, the 1934-D which has an original mintage of 1.5 million and surviving population of 8,000, we can see the inflated prices. Let us look at the value and populations of both the 1921 and 1934-D Peace Dollars in MS65.

Date/MM--------------------Population--------------------Numismedia Wholesale

1921------------------------2036/257----------------------$1,850
1934-D----------------------591/87------------------------$1,625

The obvious reason for the 1921 commanding a higher price is the fact that it is sought after by type collectors whereas nobody in their right mind would choose a 1934-D to fill a type collection slot. However, I suggest that despite this increased demand by type collectors, it still does not justify the price level given the fact that it is readily available in the market. Are we to believe that there are over 1,500 type collectors of MS65+ Peace Dollars? Consider that Heritage alone has sold 12 MS65 1921 Peace Dollars in 2009. In total, Heritage has sold 98 graded 1921 Peace Dollars in 2009. For these reasons, the 1921 Peace Dollar especially in MS65 is my most overrated collected coin.



Some of the other coins that made my short list were as follows:

1883 "NO CENTS" Liberty Nickel in any grade below MS65
1950-D Jefferson Nickel in any grade. This coin drives a higher price because of it's original mintage yet it is not rare in any grade (excluding FS MS67)
1949-S Roosevelt Dime in any grade. See comments about 1950-D Jefferson Nickel.
1881-S Morgan Dollar in any grade below MS67. The population of this coin in MS66 is 23363/4451 yet it is valued at over $250.

 

In my opinion Slabbed ASE's are just another way for TV coinshow hosts to rip people off.

Even worse are the first strike ASE's and other coins. They allow the TV coin shows to rip people off even more.

 

States quarters

 

Interesting observation. I just went through the whole ordeal of buying a 1921 Peace on Ebay recently. I say ordeal because it took a lot of patience to find a nice one in my price range. I suppose that since there were only 1,006,473 Peace Dollars minted in 1921 and many of the ones out there are poor quality, that's mainly what drives up the price. But the comparison figures you posted do raise an interesting point. :eating:

 

Morgan Dollars have always been an overated series. If you ever get the time to do some reading, bone up on this series history. The silver industry has Washington, D.C politicians in it's back pocket throughout and amny of these coins would never have seen the light of day otherwise. Most people could not afford to keep a silver dollar in their pocket during it's history much less add one to a collection. I never collected them because I was never able to afford them until later years and actually just recently. So many of the dates are untouchable financially because of low mintages, especiall the CC coins and when I think that most were not even necessary much less usable for commerce it baffles me as to why no fuss and furor was raised that would have made this series end much sooner.

 

I would think any modern day clad coin. I just don't see collecting them. I see some that for some reason go for way too much on ebay. Tim

 

Most overrated - Anything in a TPG slab, especially with the extra sticker.

Most overcollected - Lincoln cents, mainly because they're so available, and most of the series is relatively cheap.

 

I think Morgans as a whole and 1909-S VDB. I mostly think that about the SVDB because I can't afford it and I'm jealous that it is worth more than me.

 

As for the Lincolns. I'll start with the SVDB.

Yep. NOT a rare coin by any stretch of the imagination. You can put together a roll at any major show no doubt. I have heard stories of a slabbed PCGS MS-65 RD roll ( 50 slabs ) from reliable sources.

Like Lehigh stated, it the survivors rather than the mintage. You will only be wise to buy an original and undamaged coin. So, cut the mintage figure by a third or so.

It's also a simple case of capitolism and the rule of supply and demand. More people want them than the amount that exsist. What else would drive the price up? It is the holy grail of coins in reach of THE AVERAGE COLLECTOR. Every serious collector has probably wanted a 1909-SVDB since they started, and as the budget allows, with age and income, maturity, they are finally able to achieve that goal. It IS reachable if you save for one. I sold 14 last year.

As for the set, you can fill it in one day at any show. period.
It then gets into putting time and effort into a well matched set that it becomes tricky. Matching the color, strike and wear, then deciding on a grade can become a challange. As you up the grade, you also up the difficulty. A Red MS set is impossible, because Stewart Blay owns the only 1926-S MS-65 Red that matters.

XF/AU is the toughie we can all try for, sometimes taking years to finish, and alot more expense than sheet price, alot of searching will be required.

Side note:EDIT: took out something that I should have left private

 

You're by far more an expert than I am on Lincolns, Jack, but do you really think only 2/3 of the 09 s vdb's survive? It's well known it was hoarded the year they came out because people not only realized the low mintage, but they wanted it as a novelty. You may be correct, but I have to wonder what happened to the rest of them. I rarely see circulated examples below VF which tells me most were put aside.
Guy~

 

David,

Please explain why the following coin is overrated? It meets your criteria as a 1958-D Franklin Half Dollar NGC MS67* CAC. I just don't understand what you mean!



BTW, Rick Tomaska considers this coin to be what he markets through his company as an Everest Coin.

 

I say survived as in undamaged and uncleaned fully original condition. Yes, I would guess that at least 1/3 of the mintage would not make PCGS slabs for SOME reason or another.

This GUESS comes from the amount I have seen raw ( that I knew why they were raw ) and the amount I have seen net graded or in the new genuine holder.

As such a popular coin, shysters have a target with this coin, to " improve it " in some way for monetary gain.

 

I'll check the total NGC and PCGS population report and find a semi accurate number of those slabbed. It will reflect a higher than actual number due to the numerous crackouts on this issue, they don't adjust for the crackouts. I know I am responsible for 5 of them.

 

oh yea.... try to find a nice CIRCULATED example!

the coin dealers i talk to will pay strong prices for circulated examples, but have rolls of unc ones coming out of their ears!

 

yeah...

I'm just going to sit on the side lines for this one ...

Now where did I put that cigarette lighter??