The 1977 D DDO-001 (FS-101) Kennedy Half

Hello everyone!

So, I decided last night to do a little research into the availability and history of the 1977 D Kennedy Half Dollar. As you may know, this is a new entry to the Cherrypicker's Guide to Rare Die Varieties - so new, in fact, that the corresponding entry is missing almost all the information normally included with each entry. There is no Rarity scale, Interest scale, Liquidity Factor or Pricing information...

As an example, the 1974 D, a rather common DDO for Kennedy Halves (I have found 10 in rolls in the last 6 months), is listed as URS-10 (251-500 pieces, although I would guess the actual number of surviving coins to be MUCH higher than this). It is also listed as an I-3 for moderate interest and L-2 for Liquidity, meaning it "might sell in a moderate amount of time, maybe at a discounted price." The coin is listed in the CPG at $40 in MS63, $200 in MS65, $450 in MS66, and n/a in MS67.

However, if you are like, and you find a 1977 D DDO (FS-101), you will find none of this information. What you will find is helpful information to diagnose your find - a clear photo, a description, "Light to strong doubling is evident on IN GOD WE TRUST, LIBERTY, and the date; it is strongest on TRUST", and comments "The specimen shown here is a late die state. Earlier die states will show more pronounced doubling." The PUP (pickup point) is TRUST.


(Highlight of TRUST on my newest 1977 D DDO FS-101)

Imagine my excitement, then, as a roll-searcher, when I found my first example of this coin. Then the next. Over the past 6 months, I have actually found 5 examples. Three of these coins were sent in to NGC with a batch of other coins; the grades received were AU58, UNC Details (Obverse Scratched), and MS62. I was tremendously excited, especially about the MS62 - to find a scarce variety, and an uncirculated one, to boot, for face value? - until I tried finding an approximate value for these coins.


(My NGC MS62 example of the 1977 D DDO FS-101)

I started doing some research into the Population Reports of the three major TPG - ANACS, NGC, and PCGS. What I learned was more exciting - and more frustrating, because the TOTAL graded population of this variety, throughout all three major TPG, is only 23 coins. Here is a breakdown of what's out there as of 4/14/2013:

ANACS:

AU50 (2), AU53 (2), AU55 (1), AU58 (1), MS60 (1), and MS61 (1)

NGC:

AU58 (1), UNC Details (1), MS62 (1) - so far, all my coins - MS63 (1), MS64 (1), MS65 (2)

PCGS:

AU50 (1), AU53 (1), AU58 (1), MS62 (1), MS63 (3), MS64 (1)

That shows a total of thirteen graded uncirculated examples, including my UNC Details coin, and ten circulated examples. When looking at the NGC Registry sets for Kennedy Half Dollars, 1964-date, including varieties, at least half of the top ten sets are missing this variety (the #1 and #3 sets are obscured.)

Pricing is even more difficult. The variety is not well-known enough to be listed in the Red Book, Coin Prices, Coin World, or Numismedia online catalogues. The Cherrypicker's Guide lists only N/A for each grade. To find an approximation of value, it is necessary to search recent auction listings. An MS65 example is listed on David Lawrence Rare Coins as "sold," with an estimate of $635 but no selling price listed. Teletrade sold a PCGS MS62 for $280 in July of 2012, and eBay has the only four remaining examples of completed and active auctions: an NGC MS64 for $560.50 BIN/BO (still active), an ANACS AU55 for $125 BIN/BO (still active), a PCGS AU Details that sold for $89 in January of 2013, and a PCGS AU50 that also sold for $89 in December of 2012.

I have to admit - I had two of my examples (the AU58 and UNC Details) listed on eBay until I discovered just how scarce this variety can be to find. They have since been pulled, and the two newest finds will be sent to NGC as soon as I have enough coins needing certification to warrant the invoice and shipping costs. I would estimate the two new finds to be in the mid to high AU range, although one is borderline MS (it will be an exciting submission.) In all, I have paid $2.50 (plus grading fees) for these five coins - a price anyone would be ecstatic about.


(My most recent 1977 D DDO FS-101 roll-searching find.)

In conclusion, I hope that this article has shed some light on what I would consider an elusive and exciting variety within an under-appreciated series - one that is still within the reach of new collectors due to the quantity of coins being stored in banks and reserves. Exciting finds are still out there waiting to be bought for face value!

 

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The 77-D Kennedy half dollar CONECA DDO-001 was listed earlier in the Cherrypickers' Guide as the FS-17.0. For some reason it was omitted from the Forth Edition Volume II in the main text but was still in place on page 445 of the "Appendix: Fivaz/Stanton Number Cross-Reference Chart"

A set of Kennedy Varieties that my dad and I are working on: http://www.pcgs.com/setregistry/showcase.aspx?sc=1165

 

Nice set, Caleb! Thanks for the additional info!

 

That ANACS AU-55 on eBay is mine and I've yet to receive any offers.

I did purchase the NGC MS63 for $149.95 +shipping abount 6 months ago and had it crossed over to PCGS MS63. So, scratch that one NGC MS63 from your totals.

As for the value of the variety?

It can be scarce to rare BUT once the MS65 hit the population reports, it all but kills future sales of circulated examples as the folks that are seeking the coin will hold out to squabble of an MS example before they tie up money in a circulated example.

When I purchased my MS63, the seller had already sold his MS64 and MS65 examples. Otherwise, one of them would be mine. He did have a whole roll of them that he offered to me but stated that he had submitted the best of his bunch for grading. As such, I toyed with the idea of buying the roll but decided against it. Thise MS coins that he sold, more or less killed my circulating example sales of which, I'd sold an ANACS AU58 for around $150 a couple of years back.

Kennedy Varieties have a fairly narrow market and those that are collecting these are willing to wait for an MS example and are more than likely doing some roll shopping to try and find one. They aren't abpout to simp;ly buy the first one that comes along and as such, unless a new collector decides to join the fun, it'll be difficult trying to sel circulated examples.

BTW, Congrats on the MS62! I would have been VERY excited on such a score!

 

Lee,

Do you mean this on :devil:



You snooze ........ You loose

 

Here's a single finger salute for ya Kid!







Of course you know I'm kidding.........................







Brat!

 

Very nice!

Thank you for the insider information...I have a feeling I'll be continuing my research into this and other Kennedy Half varieties.

Just because not many collect something now, doesn't mean I can't...or shouldn't.

Especially at face value...lol

 

Save your money .....BUY Franklin! Kennedys are YUK! :devil:

 

Ha ha I have plenty of Franklins, but Kennedys?

I have tons...just found my 11th and 12th 1974 D DDO in my weekly order. Not as fun as finding more 1977 D DDO...but better than nothing!

 

It is fun looking for DDOs and DDRs within the Kennedy series. If you are looking at "raw" kennedys, keep an eye out for the 1971 (P) DDO-001 ... it isn't quite as strong as the 74-D DDO-001 but still a keeper. :smile

 

I haven't been able to find a single 1971 D DDO...plenty of coins with split serifs on the I of IN GOD...but nothing in the rest of the obverse.

 

There are 15 1971-D DDOs in the CONECA files, three of them can be found in Mint Sets but the is only one 1971 (P) DDO.

 

We certainly do not need the competition.

 

That is what I was thinking

 

Ha ha not to worry - I will have a Master of Fine Arts degree in a few weeks - so I will never pose a significant financial threat to people with "real" jobs...

 

I am a little confused with your summary for the population reports for the 77D DDO-001. I have an ANACS MS 64.

Larry Nienaber

 

Excellent - thank you for posting that. The information I took from the ANACS Population Report was provided when I typed "DDO" into the "Variety" search field. I've tried leaving that field blank (to get a listing of all coins graded for 1977) and it shows three DDO. DBL DIE OBV, DDO-001 DMR-2, and DDO-002 DMR-3. It looks like the result I used originally was for the DMR-2. Of course, if ANACS were consistent in their labeling, this would have been avoided...

Here are the results for DBL DIE OBV:

40-45: 1
50: 1
53: 1
55: 2
58: 0
60: 1
61: 0
62: 1
63: 2
64: 3

This would match with your current possession of an ANACS MS64. Thank you for the info!

 

BTW - this is why I pointed it out in 3 different forums - I've gotten useful info/updates from all three. Luckily, the information could be corrected before the ANA publishes it in The Exchange this week!

Phew...would have hated to have incorrect information in my first coin article...even if it was due to inconsistent labeling by ANACS...

BTW, I have contacted ANACS to get the labels changed to be more consistent to prevent future misunderstandings. Thanks atrox001! Beautiful coins, BTW, guys! I'll definitely have to look harder for an MS66 example...lol

 

Stldanceartist,

If you have a question on Kennedy varieties, atrox001 is probably the best “go to” person to ask. He has probably forgotten more on the subject then the rest of us will collectively know and he is generous with his knowledge.

 

Those "splits" on the I are Master Die Doubling and is on a lot of 1971's and 1972 coins.