More choices...seeking out a proof

So now that I will be returning the seats half dime, I am seeking out a nice old proof for my collection. Right now I am decided between a proof IHC and a proof 3c nickel. I like both choices, though I can get older proof 3c nickels for the same price as a late 1800s IHC. I also have about $60 in ebay bucks to use that can help contribute to the coin, so my price range is extending into the mid $300 range.

Here's a few I have been looking at:

Proof Indian Head Cents:

1879: http://www.ebay.com/itm/310997528774?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649

1880: http://www.ebay.com/itm/1880-Indian...95?pt=Coins_US_Individual&hash=item5b01b8ef23

1881: http://www.ebay.com/itm/171348546974?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649

Proof 3 cent Nickels:

1866 (I really like this one): http://www.ebay.com/itm/351069364228?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2648

1870: http://www.ebay.com/itm/221394534880?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2648

1873: http://www.ebay.com/itm/1873-3cN-PC...94?pt=Coins_US_Individual&hash=item2ed1d49d0a


Thoughts? Suggestions?

 

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Get yourself a 1877 IHC instead. Unless you already have one.

 

For proof 3 cent nickels, for a moderate premium over a common date, you can buy the "proof-only" scarce dates of 1880, 1882, 1884, 1885, 1886-1889, etc., all with mintage under 5,000 coins. My guess would be there's scant demand for them, who collects them by date nowadays? With patience, your premium might be as small as $50. Just a thought.

 

Seems like I can't get a decent 1877 for under $400...

 

Good advice, though I'm more interested in mintages of <2000.

 

That's an interesting dilemma. I had not noticed that the "common" dates had very low mintage(s) in Proof. That would make an unusual poll -- which would you rather have for the same money, a low-mintage Proof, or a low-mintage date?

 

You can't, $400 gets you an AG details problem coin.

I like your idea about a Proof IHC...although I'll admit I don't care for any of the 3 you have listed here. Take your time and find one with nice eye appeal. You should be able to with this budget.

 

I don't love slabs, but this is one case where it's necessary, and definitely stick to NGC or PCGS. Avoid the 1879, that seller seems to cycle through a lot of bargain basement proofs. If you go with an IHC, one in RB would be my choice and these often sport some pretty keen colors! Also I wouldn't go any lower than a 62.
Take it with a grain of salt as I've only owned 2 classic proofs, but the guy who sold me number 1 said that once you get a nice example you'll wonder why you bothered to collect anything else....and I think he's right.

 

Keep in mind that hairlines can be tough to see in images and that they have a big impact on the grade. I would stay with NGC or PCGS.

 

You can also find some sweet proof mercury dimes for this price range, and a proof war nickel is always a good choice in my opinion.

The proof war nickel was relatively low mintage, and its a one year type coin. I paid $130 for mine and its one of the nicest I have seen.

For the ~$350 budget you could almost pull the proof merc and the proof jefferson.

 

You have asked for suggestions and so I write this very politely; you appear to be price buying and that is generally a recipe for a substandard purchase.

 

I don't think it's price-buying; I think it's taking advantage of a buyer's market. You set a ceiling on what you can buy, and look for under-priced items. Besides, I see plenty of evidence on CT that a substantial number of previous Buyers are bailing out, selling large chunks of their collection, including items I sold them since the beginning of 2014. That tells me "nobody" has any money, and that even the average hobbyist must part with some of his collection to make ends meet.

All the more reason to be a finicky bargain-oriented Buyer.

 

Guess I don't really understand. I am setting a budget for myself and then seeking out coins that I am interested in that fall within that budget. I am totally happy with a PR62 or PR63 Indian or 3c Nickel if I can get it for under $400, just as I was happy with purchasing an MS62 1820 Large Cent for $450 when I set a limit of $600. I wouldn't be purchasing the coins I am interested in at the price I want if I personally felt that they were "substandard".

 

My post was written because it appears that price is the driving force to your potential purchase while your own standards might be a secondary priority. In those cases, it has been my personal experience and my experience in working with other collectors that the purchase is eventually (sometimes quickly) viewed as a substandard or non-satisfying acquisition. Essentially, when price becomes the driving factor then the discipline and patience required to find the best or most rewarding coin for the money can take a backseat.

 

Another way of looking at what Tom is saying is you look for coins that you'd like to own first before you even consider the price. If you like the coin, then you see if it fits in your budget.

 

In today's world, that's backwards. Why waste all that time looking at coins you probably can't afford? Having a specific price limit works especially well at coin shows at 3 p.m. on Sunday. Your limit is $400, you see a nice $500 coin, and you "walk" if the dealer decides not to sell at $400...

 

Or... you could use the $300 to pay my electric bill

 

Ok, I think I understand what you are saying.

I didn't pick these coins on a whim, right now I am interested in purchasing an 1800s proof coin. Considering that, I am looking for one that is less than $400.

 

I understand what they are saying...their point is to look for an 1880s proof irregardless of price. Find one that you like...that's ideal for your collection and then see if you can afford it. Don't look for a coin to fit the budget, look for a coin that fits your collection and once you find it...see if it's in your budget. If not, keep looking.

 

Got t. Thanks for the clarification DMD.