Key Date Value Destroyed

Yes, in mint state. They were discovered near me, and if I was a Lincoln cent collector, I'd grab one up fast. My dealer has a few of them from that find, and didn't even bother sending them in for certification.

 

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There are other buy it nows for less on ebay, so I would grab those first. He really isn't priced that aggressive.

 

I quoted someone regarding the 1909-S VDB cents that were discovered and dumped on the market, and I didn't mention eBay or a price. So edited are you talking about???

 

My bad, thought you were talking about the coin the thread was about

 

It was actually more than a month or two ago, sorry. They were about $75.

 

This is the reason it's called a market...your post sounds like sour grapes.

 

MM...folks this a numismatic chance of a lifetime...(clock is ticking) call and get yours now!

 

You misinterpreted my post then. Just posting observations in the market. I enjoy posting and reading others feedback.

 

Perhaps he does not understand supply and demand? I did not know how 'fragile' the coin market could be. John D

 

A coin doesn't have to be scare to be a key date, just the most difficult one to find in the series. Every series has a "key date". And that difficulty may only be slightly more so than the commons. Key date does not have to mean rare or even valuable.

 

Understood...the other thing you might consider is the seller might have a family situation and need the money.

 

I haven't heard of all series having key dates. The FDR dime is one of them. For any 20th century series, to my knowledge it's a throwback to collecting out of pocket change when some of these coins were actually hard to find at face value. I have never heard that any FDR dime was remotely hard to find.

If this isn't the context for the term, then I consider it meaningless because I can literally go out and by the entire series in one day whenever I want to do so, except when narrow criteria (such as the highest grade or maybe one below it for some dates) is arbitrarily applied.

 

If there was enough demand for 2016 cents, they would be key dates. Rarity doesn't matter for keys, only demand.

 

Had a look at some of those 49-S dimes... and a lot of them are just flat ugly IMHO.

 

By your definition, any coin can be a key date. As I stated in my last post, this renders the term meaningless.

In my first reply, I used the wrong context. I agree keys don't have to be rare because the coins from the most widely collected 20th century US series are certainly not remotely rare. However, when collecting up to maybe the late 1960's or early 1970's was predominantly out of pocket change, the coins I am describing were at least hard if not effectively impossible to find (though not buy). This never did apply to the 49-S dime or if did, this is the first time in 40+ years of collecting I have heard of it because the price in my old Red Books certainly doesn't reflect it.

The definition used here for "key" reminds me of a prior exchange I had on the term "trophy". When I hear these terms, I actually expect it to denote some significance, as in distinction. I found out elsewhere that apparently trophy doesn't mean much at all and from the replies here, neither does key date. Both are the equivalent of a participation trophy just for showing up.

 

Not at all true. Do you have anything to back this up?

 

Well the 1955-dated coins from all 3 mints were always hard to find in circulation, but that's only because they were hoarded in very large numbers. I remember going through the large hoard of silver dimes I inherited from my Grandpa many years ago, and there was exactly 1 1955-dated coin out of the bunch - a 1955-S.

 

What you're seeing is nothing more than a slightly misunderstood echo, and is, unfortunately, a rather common occurrence.

 

Any idea how long this lasted and whether your experience was representative? I ask because I don't recall any noticeable premium for these coins in the Red Book either.

There are in the vicinity of two dozen coins from the most widely collected 20th century series which I recall as "keys" which to my knowledge retain that status, but that is all. A few others like the 49-S half might have been considered one in the past as my recollection is the coin used to cost a lot more but I don't think of it as one now.

Oh and back to the topic of this the 49-S dime's price, the hardest thing to believe is that it sold for $75 in MS-65 or even MS-66. Dumping a large number all at once explains the recent price decline but logically given how many are in the population reports even now, I think it will ultimately sell for less than the grading fee.

After I wrote my first post, I also checked the NGC counts. There are almost 1000 in 66 and over 1000 in 67. Even assuming an NGC 67 is PCGS 66, still currently over 2000 "real" 66's since duplicates must be a low percentage. Considering the price and prior roll hoarding, potentially (likely in my opinion) well over 10,000 (If not a multiple) actually available.

 

I don't really have other people's experiences to quote, but I do know mine is fairly representative... the 55 Halves, 55-D Quarters, 55-S Lincolns, and (obviously) the 55-P Lincolns, were also widely hoarded.

I actually do have a 1968 redbook... I acquired it several years ago... there was a good little premium for them even back then...