1967 Kennedy half realizes $12,600

Yes.

 

Log in or Sign up to hide this ad.

How about an MS68 1881-S Morgan worth $3-$5K?

 

I think you and I pretty much agree.

I would say one thing different. I think all 20th century coinage is collectible if that’s what you want to collect. Even condition rarities. I just can’t see paying huge money for coins that are likely to become much cheaper as more in like or better condition are discovered.

I’m a dinosaur, but I am not convinced that anyone can consistently tell the difference between MS68, MS68+, MS69, and anything alleged to be higher than that.

 

It's not that collectors can't tell the difference but rather that the definition is a moving target. Coins are all unique and have unique striking, die, and handling characteristics. Some collectors prefer coins that are perfectly clean, some that are well struck, and others with full detail from a new die. In this case some prefer the frosting that provides cameo contrast.

Usually by the point at which something is "finest known" it will be finest in each category because only the best dies with the best strikes will even have a chance of striking a coin at the top.

Of course some coins will be under or over graded but when grading fees are a small fraction of the value this won't usually be an issue.

 

Yes to both, on the other hand I don't begrudge those that have money to burn who wish to pay such amounts. I wouldn't do it, but they are not me and we simply move in different worlds.

On this I disagree, No you aren't going to make money on them, and there are good chances you will lose money when you go to sell your non-condition rarity 20th century coinage, but that DOESN'T make it not collectible. There are a great many collectors having an enjoyable time collecting their non-condition rarity or even circulated sets of 20th century coinage.

 

Whenever someone pays outrageous money for a Kennedy Half, Jefferson Nickel, Roosevelt Dime etc., all we hear is how crazy it is for someone to pay thousands of dollars on a modern coin. Although both you and @EyeAppealingCoins claim to have the same disdain for conditional rarities across the board, I have never seen anyone treat an MS68 Morgan Dollar the way this Kennedy is being treated en masse.

I have owned two MS68 Morgan Dollars in my lifetime, at no time did I think I was burning money. I lost a small % of my purchase price on both when I sold. The risk of buying the singular top pops like the Kennedy in this thread is obviously higher, but the concept of what makes either the 68 or 69 UCAM is the same. They are both conditional rarities.

I think you misunderstood my point on this one. I was speaking about graded material. Obviously there are millions of collectors who enjoy collecting circulated 20th Century coins and filling holes in their albums, I am one of them. But when it comes to certified coins, the value of the coin must reach the point that it can absorb the grading fee. As a Jefferson collector, this means that virtually every coin in the series needs to be gem grade or better to get certified, which represent the conditional rarity grades.

 

It is all a matter of degree. I agree that higher graded pieces and condition rarities should command premiums, and $3k is a bit iffy for me. I don't collect common date Morgan Dollars with rare exceptions either for what it is worth. I wouldn't pay $5k for any common date Morgan (monster toners excepted and even then it would be a VERY rare occurrence). I just don't see a 68 or 69 being worth the 130x price of a gem SMS coin without something else super special in its favor. I remember when real MS67s Morgans (not the grade inflated crap common today) were fetching about $700 when MS68s were fetching around $3k. To me, a 4x premium isn't quite as bonkers. It is still not my cup of tea, but at least I can rationalize it.

(P.S. Blast white non-PL/DMPL Morgans are hard to love below MS67 IMHO).

 

P.S. @Lehigh96 - I'm not a hater of condition rarities. My favorite coins include cameo Mercury Dimes and Walking Liberty Half Dollars that I paid up for. I don't expect to make a profit on those when they are liquidated in the not so distant future. I regret buying them. I was hung up on the uniqueness of the coin (grade itself excepted).

 

I hold 4 sets of each sms year coins. (i think) there un opened. Do these tone in those holders

 

Can't get the link. Is it MS 70

 

SP69DCAM. The frosty contrast looks like a recent proof.

 

Why dummies when they want the best. There's so few best. Like kurt said. Kinda first strike stuff.

 

REAL first strike, with eyeball evidence.

 

SP says it all

 

I agree. Thats a cream coin.

 

It's like printing. You make one perfect sample and send it to the customers. All the rest with hickeys or smudges go in the box at the bottom.

 

Cameo coins from early proof sets are very rare, I’m not sure I would call them conditional rarities. I haven’t checked recently but I would assume they still demand strong prices in the market.

 

It really is annoying seeing people judge what other people want to spend their money on. In any other hobby a story like that would be taken in a positive way. "Look at the awesome price realized!". Not here though, just some idiot with more money than brains, let's bash him and get back to the normal doom and gloom talk...

Would I spent 12k on this coin? Not a chance. But I probably also wouldn't spend the $X the posters in this thread who bashed the purchaser paid for their last coin either. We all do things our own way it's supposed to be fun I love seeing someone go big for a coin they really want, grats to the new owner and the happy consignor.

 

I know I am agreeing with you on this, quite uncommon.

I think the only way I could buy something like this is to purchase it in hand so that the coin and my opinion of the coin find a common ground. The slab means nothing in this instance.
This Kennedy is quite the rarity and I have no problem with folks spending big money on top quality. Someone has got to set the bar.
Coins like this are no different than a rare variety. The survivors in this condition are far and few between.

 

But is the coin 4x better with that one-point increase? Is it really worth paying a 4x increase in price for a minor increase in quality? That’s where I get lost in the top pop mania.