That coin, just so you know, is not prooflike. It does appear that it has good luster, however. It does also appear to be a type II. Not many people know about the type I and type II on the business strikes, and I have almost never seen one advertised for sale with the distinction. Type I and II are well known distinction on the 1956 Proof, however. For more info, including pictures, see this link: http://reviews.ebay.com/1956-Proof-...-Type-1-and-Type-2_W0QQugidZ10000000006277091 Because the type I and II distinction on business strikes aren't well known, you will have a very hard time trying to sell this coin for a premium. If you find exactly the right buyer you might be able too, but that is unlikely.
I was not even considering selling it, I just want to know what it is worth. I do plan to get it slabbed though and NGC will note the distinction on the coin therefore if I did sell it in the future, I could get the premium I want. Thanks
Jess, NGC does NOT make the distinction between Type I and II 1959 business strikes, because like I said very few people care. They DO make the distinction between 1956 Type I and II proof strikes, because almost everyone cares. See this link for what they do and do not note: http://www.ngccoin.com/VPSubCategory.aspx?subid=13 That coin does not appear to be much higher than MS64, and it does not appear to have FBL. You got a decent deal for the $10 or whatever you paid for it, but it is not worth slabbing. That would be a waste of money. I would estimate that its probably worth $25 maybe, if you can efficiently promote the Type II aspect of the coin.
Jessash, As physics-fan said, it is a type II rev Franklin half. On your previous post that you created about this coin, I had mentioned that it was a Type II. These should and do command more money than a type I, but like any variety, they are only worth what someone is willing to pay. I personally collect both and although the TPGs do not attribute them at this time, I do believe that someday as their popularity increases so will the demand to have these attributed by a TPG. I have also found that the 59 seems to be one of the easiest of the T2s to find. It appears that a good number of these found there way into mint sets. If you like Franklins, my advice to you would be to try and put together a UNC set of Franklins with both type I and II reverses. This is what I am currenly doing. This would not be a very difficult set or expensive set to put together but would require some time and dedication. Once completed, you will have one super fantastic collection to display. Good luck. ALso....PS.....the type II is a great coin to cherry pick at shows and coin shops. Good luck.
Jacer - you mention a full set of Type II's? What other dates are they found on? I have heard of them on 1958, although they are most common on 1959. I have not heard of them on other dates. I guess its like Bugs Bunny - everyone knows about 1955, but hardly anyone has ever heard of it on other dates.
I think it really up to the collector what coins do and what coins do not get slabbed. It is a personal preference. I have seen coins slabbed just for being a mint piece. If you really want to take care of them and not let them get scratched, then you should have them graded just to verify what condition they are. I have three kids in my house and if I have it slabbed, I don't have to worry about them being screwed with and getting scratched up. I think the coin is a great example of a Franklin and I personally think it should be slabbed. Now, If I did sell it in the future, I am a pretty good salesperson and would be able to sell it as it is, A 1959 Type-2 Uncirculated Gem Franklin. I am going to get it slabbed and hope to get a MS-65 on it. Now, at MS-65, it should be worth around 100 dollars. If it is 64, you may be right about the 20-25 dollars. And who gets to decide if a coin is proof-like? If it has a rev. that is supposed to be for a proof, then would it not be proof-like? At least for the Rev? I have the coin in hand and it looks kinda like some proofs I have. It is not like I would try to sell it as a proof, but it does have proof qualities.:goof:
Well, you are correct in that having it slabbed is your choice. I would just recommend against it. As for the prooflike issue - there are standards. Its not some arbitrary decision. Prooflike means that the coin has reflective surfaces like a proof, but it is a business strike. Prooflike Franklins are INCREDIBLY rare, and worth hundreds and thousands of dollars. Your coin does not fit the bill. The reverse die might have been intended for proofs, but it was used to strike a business strike coin.
The Type IIs are found on every date from 56-63....allegidly and I say that because I have personally only found 3 (1958 and 1959) so I have no physical proof. There isn't too much info out there that I have found on these and nobody that I know collect these. This would be a great area to do some research if you had access to hundreds if not thousands of Franklins. The dates that the Type II is known to exist are on 1956, 1957, 1958, 1959, 1960, 1961, 1962 and 1963. Why do you think they are only found on the Philly issues and not the Denver or San Fran issues???? The answer is quite simple.... Philly was the only mint that created proof issues back then so it makes complete sense that you would only find the T2 rev on Philly issue coins. This same thing happened with the Washington Quarters. To expand on what physics-fan said....proof dies are specially prepared dies. Although these dies had a proof reverse, they were prepared for circulated issue coinage. To understand how proof like or deep proof like coins are produced, that is another story for another thread.
"This same thing happened with the Washington Quarters". I also have an interest in them as well. I have a 1957 version of one of those. For them not supposedly being that marketable, they put prices for them in coin mags all the time. I think there is a market for them. I also think they are a neat variety.:hail:
The Washington quarter reverse varieties are much more well known, recognized, and marketable. The Washington in general is more well known and popular than the Franklin, mostly because the series only ended 10 years ago.
I was just cruising the Bay and found this, thought it might be good for a laugh. 1958 PCGS MS-65FBL Type II - for the low, low price of $5000! http://cgi.ebay.com/1958-PCGS-MS65F...dual?hash=item2a01071405&_trksid=p3286.c0.m14
Also found this 1958 for a much more reasonable price - looks to be AU, so you can probably get it for melt. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=360181511108&ssPageName=STRK:MEWAX:IT
5 Grand? Is he kidding? For that much I could buy up all the half dollar collections from the 20th century and still have money left to buy some gold.
