Ok....What is the deal, I believe this coin to be a major sleeper....In high grades especially, I just picked up an MS for like 20.00.... It's mintage is considerably lower than most of the other series, and costs less in G-MS....What is the deal with this....And with so many that were plated to pass off as gold, don't you think that would have an effect on how many total was in MS condition, the 1894 has just about the same mintage, and reaches the hundreds in MS....
Penny, The reason that the "No Cents" variety is less expensive in higher grades is that so many of them were set aside. One reason being that it was a first year issue and a major design change. Another reason was that people thought that the omission of the word "Cents" was a Mint error. Today the prices of all coins pretty much reflect the supply vs. demand for them.
I still believe as time passes, and more and more collectors come into light, that the coin in question will become a more valuable coin...In MS anyways...Just my opinion though. Thanks for the info Jody, I wasn't for sure just how many were set aside...So, this should hold true for the new peace nickel then eh?
About 30,000 people are in the ANA. About 100,000 subscribe to COIN WORLD. The US Mints sells about 1 million to 2 million each of their Mint Sets and Proof Sets. Perhaps 50 million people save State Quarters, Sacagawea Dollars, etc. Are you a member of the ANA? Michael ANA R-162953
As time passes? I think 121 years is long enough. If it is not a rarity by now, it will never be. Don't get me wrong - there is nothing wrong with buying this coin and enjoying what you feel is a bargain. But....as an investment? I would say probably not a good choice.
I'm not an investor in coins, I feel as though some collectors out there actually still enjoy the hobby instead of looking at how little they can spend now, to retire later, at least I hope so. Maybe value to me and the other millions of collectors out there isn't the same, Valued by, is what I mean, harder to find, most being kept in a private collection because they are valued by so many, as yes, in fact being a bargain for a very low priced, older coinage in MS condition, that has a low mintage. You have so many people being led to believe that value is something that always involves money, that just isn't true, someone who might be misled to believe that the 1883 no cents nickel isn't a valuable coin to keep in mind, simply because they are led to believe that value = money, and nothing more, therefor that coin is handled less carefully than a high dollar coin, you mishandle a coin, or do not take proper care of the coin, you will get a lower grade, if 90% of the people out there who look at their overall collection as " show me the money" , and don't see this as a money maker in the future, and let this certain type downgrade year by year, I see the true caretakers of coins showing triumphant in the end. By the way, I don't see what being a member of the ANA has to do with anything honestly, I've seen just as many crooked ANA members as I have seen Crooked pawn shops, don't get me wrong there are some awesome ANA members, but there are just as many smart, and honest people out there, that aren't a member of the ANA, you can give to the offering plate every Sunday, does that make you a christian?
Well said, Penny. Post #7 was one of the best ones I've read on this forum in a long time. I love it when people say what they feel, rather than what they think sounds PQ. Now, about the 1883 "No Cents" nickel. One of my most beautiful coins, happens to be one of those. It is a former PCI MS-62, that has soft pastel red, blue and gold toning on the obverse, and a "bullseye" toned reverse with the same toning. I paid a little over $40 for mine, but I wholeheartily agree with you, the monetary value of my coin is secondary to the pleasure I get from owning it.
Gotta love those bullseye toned coins, they make a very interesting and nice piece to have I have a couple of higher grade wheaties like that. I take it you like the toned Jeffersons too? Gotta love that golden orange color that so many of them have, or the slightly neon green toned ones. Is it just me, or does anyone else out there give some of their toned coins nicknames, such as black pearl etc. And thank you Jody, for the uplifting comment, I was kind of in a down mood when I wrote that, slightly aggitated if you didn't notice...
You sound like you have the right idea about collecting for sure, but "value" is an indicator of supply vs. demand. You had mentioned the financial value as a consideration in your purchase. I agree that an MS 1883 coin for $20 is outstanding, but my point is, just do not plan on huge returns, since the coin has had well over 100 years to catch fire in the market and it hasn't happened. Earlier explanations are right on target. Mintage is not the important factor so much as how many were saved. A very small collection of coins from a relative contained new (or nealry new) 1909VDB cents, 1913 Buffalo nickels, and.......an 1883 Liberty nickel. All the new designs were saved or even hoarded, which is why the MS 1883s are so cheap. Just wait and see how many BU 2000 Sackys are on the market in 25, 50 or even 100 years. They will be a slow sell at any price. By the way, I had always thought of picking up a nice (and I mean NICE) 1883 nickel since I knew they were pretty cheap. Maybe I'll start looking.
