Discussion in 'US Coins Forum' started by jaceravone, Jul 1, 2009.
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These were minted at the Philly mint.
Not much of a premium, but the price guide I have has a seperate line for this quarter with a very, very small premium above what a normal 56 quarter would go for. I guess this small premium represents what a variety collector might pay for this one? I don't know. But obviously there must be enough of these found for them to have a separate line in the price guide....you think? I don't know. Searching the internet has turned up nothing. That's why I am relying on the CT group to find some more info. Also noted that there is some detailed doubling in the date. Most likely machine/mechanical doubling, but still neat to see.
The 'Price Guide' that you are referring to, by any chance is it by Frank Spadone?
If so, you can pretty much discount most of what he says.
Spadone is important in that he promoted the ideas of varieties long before most people collected them.
However, he has many errors in his listings. Like (from memory, so the date is probably wrong) a Lincoln cent with a slanted digit in the date, last digit (say 1945). He didn't know that the 'slanted digit' was the result of damage from a coin counting machine.
Still, his references are a great part of coin collecting history.
It is the Numismatic News price guide.
And, there it was !
1956 Double bar 5.
Wow, whoda thunk!
okay, I give up, no idea that these were still considered collectible enough to list them.
Interesting, ya (I) learn something every day in this hobby!
I'll caution you though, that although the price guide might say its worth a premium, you will be extremely hard pressed to find anyone willing to pay it. It is worth, for all practical purposes, the same as a regular 1956.
For one thing, I am no longer going to sell this. I will put it in my collection as a variety and enjoy it.
Finding neat things like this is what collecting is all about. I will check and recheck and recheck coins for many years before I eventually part with them. Its all part of the learning process as well. I remember seeing this "double" bar on the quarter a long time ago and didn't think anything of it. Now I know to look for these and now you all know as well.
We all can pretty much agree that it is a die chip, but I want to know the details of this coin....the history behind the discovery.
You would think that but don't some guides still list the 1955 Bugs Bunny half dollar as well? And that is just a die clash. It could even come from more than one die.
But the Bugs Bunny is different - it has a history of a significant premium, is well recognized by many collectors, and is interesting. And every single one I've seen has been from the same die, evidenced by the characteristic die polish lines trying to clean it up. Very few people have heard of the OP's coin, and there seems to be little premium associated with it.
Treashunt, I just checked my Variety and Oddity guide by Frank Spadone and yes the 1956 double bar quarter is listed in the guide. Spadone has it listed at $10 dollars in uncirculated condition.
Not that there is anything wrong with this statement, because it is true,,,,,,but we can always justify the value of a coin with a variety when it was found a long time ago and it has already garnered the interest of the collecting community. The longer the variety has been ingrained into our collecting heads, the more of a value it retains. But people tend to forget that, support of these varieties don't happen over night. For instance, I am looking at my Dads 1965 Handbook of US Coins (the blue book) and there is not one mention of the Bugs Bunny Franklin 10 years after it was minted. Had it been discovered by then??? Quite possibly, I don't know because I couldn't find the history on it, but obviously sometime between then and now it picked up in popularity because my 2007 Red book has it listed.
This new 1956 Double 5 bar appears to be, by all accounts, a fairly new found variety. And if not newly found, then definitely newly publicized because it is being spoke about on different forums and now is in the written press with its price listing. Very little info is found on the internet, and only one source has this variety listed. But who won't say that in 10 or 20 years, this may be all the rage in coin collecting is to find this 56 Double 5 bar?
I am not disagreeing with Physics statement by any means, because what he writes is true, but we should not forget that every coin at one time was new and never really commanded value right off the press. Value was later determined by supply and demand and ultimately, popularity. The Bugs Bunny Half is popular and people are willing to pay a few more bucks for it. The 56 double bar not so popular.......yet..... and only time will tell what people will pay. In the mean time, I am holding onto mine and I have found another coin to start cherrypicking. :smile
I agree 100% with you. The various comments about "not much of a premium" are thrown out much as sand is thrown over campfires.
This is not like one of the errors the guys with the microscopes have found. If you can see it with the naked eye, then I think it has HUGE potential.
Your comments about examining and re-examining your coins is spot on.
Your coin does not have a great promoter, or a clever name, or a brilliant marketing strategy. Just look at the so-called "bootstrap" Lincoln that everyone has been talking about. Its a simple die crack, just like yours, but everyone has been talking about it because new Lincoln's are incredibly hot right now, someone came up with a clever name, and has been spending a great deal of effort marketing it. However, I'm pretty sure that it will fade away soon, just like all these extra thumbs and whatnot they're finding.
Very few of these varieties ever get popular, very few have a clever name, and even fewer remain popular. I'm not saying yours isn't or won't, I'm just saying its unlikely.
Ah yes. If I understand Coin Collecting history, there were a lot of efforts by coin dealers pushing the 1955 "poor man's double die".
As I understand it, the "poor man's double die" was a very common occurance, but dealers at the time pumped and promoted it to the extent that these "poor man's" pennies were sold for way more than they were worth.
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