Looking for that difficult date coin to fill a hole in your collection?

Now that I have not been much of a Morgandude recently, I had branched off into other series. As many know, I have been collecting high grade toned and blast white Jefferson Nickels, both MS and Proof (particularly, the earlier ones, from 1938-1965). As most will know, the problem date is the 1939 Proof Jefferson. Mintage was extremely low; just over 12,000. Finding a really attractive example in high grade that is really attractive is not easy. I will end up spending $2,000 for a modern quasi rarity. Given that I sold my 1893s AU 50 Morgan months ago, it will be less painful, as I still have money left over.

Now, what is your experience in getting a really attractive example of a key date, or difficult date coin for your area of collection? Do you compromise, and buy a filler coin. Or, do you hold out for that one stunning coin, and open up the wallet? Please share your experiences in the “key date” syndrome.

 

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The 'old me' would buy a sub-grade (buyer remorse) filler coin. The 'new me' is a 'hold out' for a better condition and grade coin.......

 

I dont have anything I would consider a key date but I love AU-58 coins and nice AU-55 even if I can afford more so I will try and go that route when I can and in the very rare coins I will get the best of the grade I can afford.
I love a nice looking VF-35 Morgan as well.

 

Patience is key. Don’t settle for a coin that you know you’ll just end up replacing.

 

I've have always tried to stick to the adage "buy the best you can afford", and I do empathize with you on that blank hole in the book. BTW, that musta been a real sweet Morgan!

 

How high of graded toned nickels do you look for?

 

Generally 67. I will consider a really beautiful 66.

 

I have the patience of an oyster. I’ve been looking for one specific coin for over 6 years now. It’s out there but I haven’t found it.

 

The 1939 Proof Jefferson is a classic “wait for the right coin” date. I have seen many, recently, but even the PF 67s had very grainy reverses. This is typical for the date.

 

I am finishing up my IHC collection and most of my coins are in the MS grades, a few maybe AU-58 but nice ones. The only gaps are 1870 Shallow N, 1871
Bold N, 1872 Shallow N, and 1877.

I'm not having any difficulty finding nice, MS-64/65 examples of the 1870-72 semi-keys within my budget. What I cannot find is a nice, accurately-graded 1877 at a price that is not highway robbery. The problem is three-fold simply because it's the key date. All the coins are over-graded because of market grading, and the trend toward over-grading, 1877s by their nature are not very nice looking coins so a nice one gets PQ pricing, and any key date is rapaciously priced for obvious reasons.

Now, I am not railing against the facts of life and commerce here. I'm merely setting up the reasons why I am in the same quandary you are. Do I spend $2K to $2.5K for an over-graded VF coin to go in my MS set, or do I spend $5K or $6K for a MS coin? The dilemma is pronounced because I have other collecting interests that have a claim on my budget. I just haven't resolved this yet and more tellingly, haven't determined a set of criteria to frame the decision.

 

Perfectly stated. Getting the one coin needed has a domino effect on collection of other coins, and series.

 

It can be very aggravating, especially when you fine one but something about it keeps you from buying it. As time goes by you begin to think that you should have bought it.

 

Both. Some holes can't even be filled with sub-standard coins cheaply, like the 1918/17 Buffalo nickel, so I'll spend the money when a decent one comes around.

 

I recommending going to the ANA's national money show in Arizona. You can find every thing at the giant ANA coin shows.

 

I put together a 1942 proof set. It took years to find the right coins. I feel like the majority of the proofs from that era have serious eye appeal issues. But the nice ones are out there.