Reverse proof Roosevelt dime most significant coin of century.

If you're a Roosy collector (which I just became), these two dimes probably will be the most significant coins of the century for the Roosy series.

 

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Exactly! And 75 years from now whatever guy replaces them in their local market will be stealing these coins from widows, marking them up obscenely, and hyping them as rare low mintage keys. Look, I know small retail like the back of my hand. "You don't make money sellin', you make money buying right." If that means scamming some widow, so much the better, right? I bet they all hate Beth Deisher for writing her book, too. I know many small-time dealers. All of them would sell their own mother if they could turn a quick buck. It's in their ideological entrepreneurial DNA.

Dealers hate moderns because they can't (yet) buy better than collectors can, and that kills their business model.

 

Kurt, I have nothing against buying modern coins, but those PR/MS70 coins? that is another story.

If I needed $$$ I can walk into any major coin show in the U.S. and sell 100 PCGS MS63-65 classic coins within an hour. How many of those PR70 coins can you sell? The answer is NONE!... Dealers selling high grade modern PR/MS70 coins = Plenty...Dealers buying = NONE!

 

Welcome to the party! I have the entire set in MS65 and higher in Dansco, and by entire I mean silver AND clad, and I collect varieties not in the Dansco in NGC slabs. Virtually all the clad non-proofs were cut from mint sets.

 

And some dealers love to sell high grade moderns b/c they can screw the customers blind.

 

Well, for starters, most of my modern is in OGP, not slabs. Of the ones that are in slabs, NONE are 70's, not even ONE. I refuse to pay for that which I cannot see. 69's? Sure, you can't swing a dead cat without hitting a 69. So you are correct; I could sell no 70's. I don't own any.

Secondly, I never have ANY money in coins that I will ever need quickly. That's insane! I bought every coin I own with the full knowledge that liquidating will only ever be done slowly over time through multiple channels. Frankly, it never occurred to me to expect that kind of liquidity from coins.

I simply can't imagine a world where I'd ever need to do what you describe with those 100 PCGS MS63-65's.

On the other hand, on the last day of Kennedy sales at Chicago (Thursday?), I bought 2 clad sets for $9.95 each, and BEFORE I HIT HALFWAY TO THE FRONT, a dealer offered me $75 for ONE set. He bought me a nice dinner.

My idea of fun is finding 67's and 68's among coins intended for circulation, frequently from rolls put back fairly long ago. (But within my lifetime.) Sometimes I miss and they come back as 6's. More often, I hit.

 

You ever beat your head against a wall? Because that’s what you’re doing, trying to argue with traditional dealers. They’re trolls for old coins. If the facts don’t support their position, they make up the facts or confuse the issue by comparing apples to oranges. But keep it up, young numismatist need to hear the truth.

 

What I don't understand is why they don't understand. They keep griping about poor show results, reduced sales, yet they keep insisting they're right. At some point, dontcha hafta recalibrate for a new paradigm?

I mean, unless circularly reselling those same 100 PCGS MS63-65 classics to each other floats their boats.

 

Thanks for your honesty, I knew some dealers love to profit by screwing their customers. And, I'd speculate it's a whole lot higher than some, it's more like most.

 

Never once have I EVER thought, "Yeah, I choose to buy this coin because I know if I ever need money, this guy'll buy it back." Never. Not even once. 'Cuz pal, if you ever DO think that way, you're already in waaaaay too deep.

 

Yeah and those will be the dealers that survive. At this point in time, the shows are full of dealers that are on their way out (literally). At every show I go to, a good percentage of the dealers are retiring, getting ready to "checkout", and trying to liquidating their inventories at wholesale or less.

 

I know. I cherry pick their stuff myself occasionally. There is rarely a coin I see at an ANA show at a regular dealer's table that I want that I can't get for 1/3 their ask just by waiting for the right auction back home. I seldom even see much of the bourse at an ANA show anymore. The talks are the draw.

 

That's because they aren't "must haves" for a collection. These one-offs have no place in a traditional date/MM collection. Has nothing to do with whether one is a dealer or not. I'm not a dealer...nor do I care whether money is being siphoned away from traditional collections or not.

 

Sounds like a minority position. Not only do they belong in a traditional collection, as evidenced by collector demand, they'll be the keys. Look at the secondary market over the last 20 years for these issues with 100k or less mintage.

 

You don't get to make that call. Littleton, Whitman, and Dansco do. Also whatever comes next. Remember the filled hole for the 1916-D Merc?

 

That's just it. Other than flippers trying for 70s and a quick buck there IS no collector demand that I see. If it were collector interest rather than flipper interest people wouldn't be skirting the rules and buying 10, 20, 50 examples rather than 1.

 

Yep, good chance, years from now, when these dimes have settled into collections, with few on the market, the cost will be so high, most collectors will settle for a plugged hole, like the 1916-d.

 

Sure I get to make that call. It's MY collection. And yes, I remember the hole for the 16-D merc. Why wouldn't there be one? It wasn't a one-off mint-produced oddity done strictly for the purpose of creating a rarity. It was a coin produced for commerce. Mine is an XF.

 

You have to looked past the immediate flipper market, when the market is flooded. Heck, most of your classic keys could be had for a song when they were issued.

 

So, how do you reconcile that logic with the 1804 dollar or any other classic made for collector coins?