Most Under-Rated/Collected Coin

1899 P Morgan above MS-65

 

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I have been working on 1875 and 1876 three cent nickels. With a mintage of 228,000 and 162,000, they are much cheaper than other coins with that low of mintages.

 

1931 D Mercury, preferably in XF or better.

 

WHOO HOO great choice. 260,000 fewer struck than the HTF 1926-S and only 30,000 more struck than the legendary 1921.

Way Under Valued...

 

My personal favorite for 10 year appreciation is the Roosevelt Dime series. Not a lot of interest in this little coins. The silver coins have been melted in huge quantities in the 80's silver rush. I think a lot of collectors shy away from them because they are felt to be quite common and are fairly cheap even in MS/PF condition.

 

Don't forget the 3 Cent Silvers either. Last one I picked up was an 1855 - mintage of 139,000 and the coins being so small they incurred damage easily Get past 1862 and mintages really plummet. Less than 5000 in many cases yet an F12 lists in the $500 range IF you can find one.

Take it a step further if you're able. 1879, 80, 88 and 89 all have mintages under 50,000 but can be had in the $100 or less range in G4 and it's not all that much more to pick up F13 or bette.

 

Seriously? I have a couple of those. Actually, one's in VG and the other EF.

 

To me, the most underrated/undervalued coin is the most overlooked coin. And then you have to put a time limit on that- are you talkiing in the next 5 years, 10 years, 50 years, etc?

Mid to Long term, I don't think this has anything to do with logic, mintages or popularity.

With collectibles, it's what you DON'T EXPECT that will be worth a fortune in 10 or 20 years.

So what is my goofy answer?

Ok. I'd say MS Sacagawas with NO toning. Notice how all the Sacs and Dead Prez coins tone? Is anyone REALLY taking care of them like putting them into Air-Tites so that they won't tone? No. Lots of people are just blowing them off and those that do collect them, throw them into Danscos (at best) or 2x2's and be done with it. After all, it's a stupid series that no one is collecting them.

Of course, you can apparently remove toning with chemicals and that will probably get more sophisticated in the future, but I guess I'm just throwing in my 2 cents worth here as a possibility.

On another forum here, I was told that the 1950-D Jefferson is probably about as rare in G as it is in UNC. So there you go.

Just trying to think out of the box. Thanks

 

Also my choice. 4th lowest mintage in the series. The main thing most forget is that the greatest majority of coin collectors are those that collect normal or more modern types of coins. Such coins as Seated Liberty Dimes, Quarters, 2 cent, 3 cent and 20 cent pieces are just to unknown and difficult for the average collector so they are ignored. Same with early Indian Cents or Bust type coins. If the greatest majority of collectors can't find them, can't afford them, they are ignored and the prices stay rather stagnate. The coins that collectors see all the time at coin shops, coin shows, flea markets and even still in change demand the greatest interest in the majority of collectors. Mercury Dimes are still widely available and that 31D is a real sleeper. And just try to find them in high grades.
And as long as the Mint dosen't ruin the Jefferson Nickel again, it too will be a complete sleeper type of coin. Again, most collectors are young, new and not wealthy so normal coinage will become the big demand soon. The massive differences in some coins create interest but excessive types, like with stamps, will distroy the hobby with those odd Jefferson Nickel types recently.

 

The sext series to explode:
Indian Head Cents!

I picked up two pieces for my primary set two weeks ago.
The 1867 in AU-50 (some read still showing).
And the 1874 AU-50, brown.

I still think that the 1908 S is underpriced.

 

Undervalued? I would have to say half cents! When you look at what they're selling for relative to their ridiculously low mintages it is obvious they are vastly undervalued. For instance, the 1832 half cent has a mintage of only 51,000 pieces and lists for $50 in VG-8. I recently acquired one in F-12 condition for only $35! At these prices, half cents are a steal.

 

Gopher,

I'm looking at a mintage about 100,000 higher than what you quoted but still agree on the series. $35 for an F12 is a steal.

You have actually seen some of my stuff but I didn't show you my smattering of half cents. Many low mintages including the 1854 to 57 run. I have the 56 and 57 and they HAVE moved. Get those while you can (along with the 1857 large cent).

clembo

 

I am citing the mintage figure as listed in the 2008 Red Book as well as several other sources (ie http://www.coinfacts.com/half_cents/1832_half_cent_varieties/1832_half_cent_varieties.htm). You are probably looking at an earlier estimated mintage of 154,000 which has since been corrected and reduced by the US Mint. But, we both agree that regardless of which mintage figure is correct, the 1832 half cent is both rare and undervalued.

As far as your smattering of half cents goes; if they're even a fraction as nice as your two cent pieces then I can't wait to see them! I love half cents!! Too bad there's so many missing years and "proof only" years.

 

Very interesting site Gopher29 and informative.

I haven't bought a Red Book in a few years. I just pick up the Coin Prices occasionally so the mintage figures HAVE remained the same.

Out of curiosity I looked up 1833 (my only unc half cent). Showing a mintage of 103,000 vs. 120,000 in Coin Prices. Interesting.
Now I'm going to have to dig out all of my Half Cents to compare. Thanks! LOL.

Oh, and by the way Half Cents DO rock!

 

Mintage figures are important. But they should be taken with a grain of salt, just like TPG census figures.

What counts is not how many were minted, but how many survived, and in what condition. It's common that two similar issues have very different survival rates.

A classic example is the 1929 $5 Indian. It has a mintage of 662,000 - one of the highest of its type. And yet it is the unquestioned key to the series ! Sliders trade for over $10,000.

That's why TPG census is useful. It's an indicator of how many survived, and in what condition. An imperfect indicator, but an indicator none the less.

 

In coins, the phrase "under rated" has always bothered me a little.

"Under rated" compared to what ? To what it "should" be, I suppose.

And that's where the mintage figures some in. Low mintage pieces should be higher priced, right ?

Not necessarily.

Mintage is all about supply... but what about the demand ?

We tend to call coins underrated when an issue has low price AND low mintage, which can only happen if there is low demand.

Since the mintage is fixed, the supply will never change. So a coin will emerge from "sleeper" status only when demand increases.

So the real question is - why would demand for a given issue (or series) suddenly increase ? Usually, it doesn't. For example - Half-dimes have never been widely popular, and they probably won't zoom up any time soon.

 

Demand is driven purely marketing and personalities of people that collect a given series of a coin.
I know for a fact that many here have bought some Bust Halves completely due to Bonedigger's wonderful collection.
I'm one of them.
Ben is well liked and if people like someone, they tend to emulate them, somewhat.
Also, if that person is successful, one will tend to emulate them even more.

People want to be liked by their peers.
That's what drives the new car market.
We want to be popular the easy way, by owning popular things.

Buy up all the half-cents/dimes, post tons of pics on here and the larger coin boards, and the market will increase.
It will be slight, but it would compound over the years.
Exposure of a series will increase the demand and you could make some money off of it.
It would be a good bit of work, but it IS possible to manipulate the demand.

 

I agree with many of the posts here. To add another:

The 1955 Franklin Half (and the series in general)

Not only does the '55 sport the lowest mintage of the series, it is also one of only a few years they were only made at one mint. The number of total '55s made compared
to the total of other years is even more dramatic.

It is the 4th highest priced of the series, and the earlier years were generally not well-struck, which justifies a higher tag for those as the grade increases, however, I think the entire series is a relative bargain.

 

It seems the greatest rarities seem to accelerate the most over time. The issues that are offered infrequently tend to jump up in price when they finally come to market. Talkin' about 1804 S$1s... that kind of stuff. Way out of range.

 

Perhaps it also has to do with the attributes of the coin or series.

For instance - why are there so Morgan dollar collectors, and so few Seated Liberty dollar collectors ?

The VAM book is fabulous. It contains a lot more than just Morgan / Peace varieties.

One of the things it talks about is why Morgans are so popular. Reasons include :

• It is a large coin. Large coins are intrinsically more desirable because they have more room for the design.
• Beauty. It has an design considered attractive by many.
• Availability of nice pieces. It was minted in great numbers, but most were never circulated. Thus, there are many in excellent MS condition. There is no other American series where one can have so many coins 110 years old, in great shape, for low $$$.

None of those factors change over time, so Morgans will likely always be popular.

Are there fewer Peace collectors ? If so, it's worth pondering why... and whether any of those factors change over time. If so, perhaps Peace dollars are undervalued.