Well so far these Adam's Smooth Edges are turning out to be extremely rare. According to the NGC population reports 27 times as many Washington Smooth Edges have been graded as opposed to Adam's Smooth Edges. I remember when these Adam's Smooth Edges first surfaced many were hesitant not knowing how many were out there, but now it looks like we have a pretty good idea. It is estimated that no more than 5000 Adam's smooth edges are out there and I was just wondering how high a coin with this small of a mintage could go? I know many on ebay are talking about the edge inscriptions being eliminated and thus eliminating the possbility of these errrors continuing for each president which of course eliminates the possibility of saturation. Furthermore, I did read in a major coin magazine this weekend that dealers will be putting sets together if the edge inscription does end which will consist of a normal Washington, Adams, Jefferson, and Madison along with a smooth Washington, a smooth ADams, and a double struck Adams. This does sound kind of neat to me and I could see the tv guys realing pumping something like this. I guess I'm looking for some opinions on where this coin could possibly go. I own both adam's smooth edges and double struck and I'm looking to buy more. I talked to a dealer at a coin show in michigan a few weeks ago and his point was that if you look at other famous modern errors they all have a circulation of at least 25,000 and they all sell in the hundreds and thousandds of dollars so he was pretty optimistic on these Adam's Smoothies at these prices. For example, he told me that there are estimated to be at least 30,000 Wisconsin leaf errors out there and a 65 slabbed sells for around $300 to $400 depending on if it is a high or low leaf, there are estimated to be 150,000 Washington Smooth Edges out there and they are selling for around $90 each for 65's slabbed, there are estimated to be 25,000 1955 double dies pennies and they are selling raw for well over $1000. His point was that this error could be very well be the rarest of the rarest of modern errors and he felt prices would esculate to well over a $1000 by the end of the year, but of course he was biased because he does have some smooth edges, but he isn't selling. Is it realist that this coin could be selling for $2000 within a year??? Of course, no one has a crystal ball, but I wonder with this kind of low mintage if a number like that would be realistic.
I don't have a crystal ball either,but first of all the 150,000 for the gw smoothies is IMO way high, about 55,000 have been graded at the 2 major TPG's, the Adams smoothies IMO are at about 3-5000 which makes them alot more scarce, I think they will settle in the $4-600.00 range.If the fed stops the edge lettering program at the end of the year all of these will go up IMO......one thing to keep in mind concerning the GW smoothies is that through all the hype and all the guesses of 50,000 to 300,00,and the appearance of the Adams smoothies and double edge adams, the GW's have held very well at 90.00 and remember it's summer which in general is slow for coins,i think they are bottomed out now and can only go up from here........just my opinion!:kewl:
It may also be that the Jefferson smooth edge coins if found will be even more rare than the Adams and will thus become the new key. I also don't see the Adams going higher until there is some outcome with the legislation but that is only a guess. I like these dollar errors though and think they all have good potential as collectables as I own a few myself.
Got a 150.00 worth of Jeffs today and I have only gone through 1 roll. Found only 1 coin so far that has what looks like a s in front of in god we trust
With the Congress jacking up production of the 2007 Sacagawea to 2000 levels (morons!) and the dreadful quality of the Presidential dollars, the high grades will continue to maintain and increase in value. The Adams error coins in MS65/66 are going to be very low pop due to the quality of the strikes. Especially anything coming out of Denver! With missing, "overlapped" and "inverse" edge lettering to be accounted for, any of these errors are something well worth stocking up on. I predict very high long term resale values for MS66 Adams errors with the Washington errors fair but not in the same league. IMO.
Thanks for the input guys I'm not really a big time coin collector, but I've become fascinated with these smooth edges and double struck from an entreprenuer standpoint. I havn't been around coin collecting long enough to know the dynamics of the industry, but from going to a few shows here in Michigan over the past year I've come to learn that a major catalyst for moving prices fairly fast is when promoters come in to the picture and start buying up stock to run their magazine or tv ads. I guess where I get lost is the fact that I can buy a smooth edge washington ngc ms65 for around $90 and a Adam's smooth edge ngc ms65 for around $700, whereas there have been about 27 times as many Washington smooth edges graded as opposed to the Adam's smooth edge. To me it would seem that the Adam's smooth edge should command a much higher premium over the Washington being that they are almost 27 times as rare. I know it is not an exact formula and you just can't say well washingtons are going for $90 and since the adams are 27 times as rare you multiply $90 by 27 to get the fair market value of an adam's smooth edge. I know, only if it were that simple, but to me it just seems like the Adam's should be selling for alot more than it is. I want to buy some more Adam's smooth edges, but so far it appears that prices are about $100 of their highs from about a month or so ago which makes me a little concerned before buying more. Just like stocks I rather buy stocks that are going up as opposed to going down. I guess from a short term standpoint it will be critical to see if any jefferson errors come out because I think if errors begin to show up for each president then you only have so much money that people can spend and I bet it hurts prices for the Wasghington and Adams errors if they do show up in large quantities, but if no errors show up in the next few weeks then hopefully these Adams and Washington errors will begin to climb in price. I thought a set would be cool like they are speculating that dealers will do if they do end edge insrciption which would consist of a Washington, Adams, Jefferson, and Madison edge inscription along with a Adams/Washington smooth edge, and finally an Adams double struck. I'm even considering buying some Washington Smooth Edges so that I could make some sets up myself and hopefully get ngc or pcgs to grade them and encapsulate them as one set. I think this would be a pretty good idea.
