How Do We Know This is Not an SMS?

https://www.greatcollections.com/Coin/801808/1965-Kennedy-Half-Dollar-NGC-MS-67-226-152-133

It looks a lot like other 1965 SMS coins that I have seen.

 

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...because NGC sez it isn't... Let's see what members here say

 

I’m sure some will see it differently, but what difference does it make? The coin is a business strike ‘65 Kennedy. I can’t imagine why any rational person would care if it came in SMS or not.... buy the coin, not the slab. If you can’t tell the difference in the coin without the slab, it’s not a difference worth worrying about.

 

An SMS in this grade is worth $50. The bidding on this one is currently $1,050, not including buyer’s fee. I would like to know how they can be certain. As I said, it looks like a standard SMS.

 

The SMS coins are NOT business strikes. The coins are not interchangeable and this is reflected in the price difference.

 

Clearly saw this and similar responses coming but I don’t think you get my point or question. What would compel you to value a SMS MS-67 w/ star at $50 and a non-SMS MS-67 w/star at many multiples of that? Or differently, if you were bidding on the coin why would you care if it’s an SMS? Please don’t use ‘the market’ as an answer.

I spend my money however I like and obviously have qualms with others doing the same. I’m only asking what would compel someone to ask the question that is being asked because I don’t get it.

 

Why would you spend more or less on a proof vs business strike, or one mint mark over another, or one year over another, cam vs not, dcam vs cam, FBL vs not, FH vs not, PL vs not etc etc etc. Different things cost different amounts and yes they are differnt

 

If this is a business strike, it is incredibly rare. SMS coins were struck with different dies and packaged for sale. If this is SMS, it is common. Rarity is a huge driver in prices of coins. I don’t get your confusion.

 

None of the characteristics you’ve listed require a TPG to validate. The question in the OP is whether the coin listed was an SMS or not. My point was: if you need a slab to tell you what the coin is or isn’t, the difference isn’t that significant (to me). Your mileage may vary.

 

I was unaware they were different dies. If the dies are different, should they be easily distinguishable?

 

Cite that. I've always read that they were regular dies that were a bit overpolished.

 

Honestly it looks like an SMS to me.
I think it was a labeling mistake. If you could even call it a 67, I wouldn't.
@physics-fan3.14 what do you think. Does this look like a PL Bus strike?

 

That was always my understanding as well.

 

SMS halves have more of a proof, mirror finish in the fields. They are fairly easy to distinguish between the two, especially in high grade.

 

Well, excuse me for caring a bit about the market value of my coins.

 

I mean no offense to anyone. I truly don’t understand why a collector cares about market value. I value a coin at $A. The market values it at $B. If $A is greater than $B I’ll buy the coin. If $B is greater than $A I won’t.

Just as an example The market says Morgan dollars are worth a certain amount. I think they’re overpriced in general so I own very few Morgan’s. I’ll buy at or very near melt only.

The market says I can buy full 4 digit date Buffalo’s from the 1920’s for $0.40. I think they’re underpriced so I buy them all the time. Easy game.

 

So you think your personal valuation of a coin is not informed by and has nothing to do with the market value? I think not. Your own example about why you don't care about the market value shows you knowing the market value.

The necessity of knowing the market value to a collector is obvious. It helps you to determine your own values for new types, dates, and varieties. It helps you to make money to fund your collection from making profitable side purchases. It is important when you sell coins (even collectors have to sell, as when upgrading). It helps you to determine collection value for insurance purposes.

The market value IS the value. Nobody else cares about your personal valuation.

 

No, I miswrote. I meant differently prepared dies. To my knowledge, they are not distinguishable by the dies. Only by their proof-like appearance.

 

The SMS dies were polished and struck on unpolished planchets.

Coins intended for circulation were struck with unpolished dies on unpolished planchets.

 

They were also struck with more pressure than the business strikes. Also, if I'm not mistaken, the planchets did receive some special preparation (burnishing) and handling, but were not polished like proof preparation. The coins, after striking, also received special handling.