Question for the "Older" collector

Hey Ya'll

This question came to me today and I was wondering what y'all would say.

Nowdays collectors seem to want the S VDB....the 1877 IHC, the 2005 Speared Buff and so on...so my question....
Back in the 50's-80's what was the coins everybody was wanting?

Was it about the same as it is now or has that list changed.

I stand in awe of the many collectors on this forum who are willing to share what they know with us "whiper-snappers"---it has helped me for all of my 5 years...this forum has been the #1 place for me to learn what I know today...and I just want to say Thanks

Speedy

 

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Thanks...that was one thing I thought...the other was that the coins changed with the times and that some keys went from being keys to common coins.

Speedy

 

Generally speaking, the recognized "keys" have always been the ones that draw the most attention and price. I might say however, that you list one coin that won't even come up on most radar screens as a "key". Other than that nothing has changed. There were mavricks than and we have them now.

 

Do you have any "keys" in mind that have dropped out of the race?

 

hmmmm
Never much thought that the speared buffalo was was on anyones list.......at least it shouldn`t be. My experience from the 60`s on, were type coins. The 14-D Lincoln, 16-D Merc, 77 Indian, etc were dream coins. Like everyone else at the time, I was plugging holes in those blue folders. It was always a given, that some of those holes weren`t likely to be filled. At least not anytime soon. It was a different time. I didn`t buy Walkers, Mercs, Washington (silver) quarters, or even Lincoln (wheat) cents etc. They were common in change. SLQ`s and buffs were not uncommon (some even had readable dates!) Morgan and Peace dollars were still available at the bank for face value up until 1963. (I was 10). I never ever did ever get an Indian Head cent in change though!. What I did buy were type coins. Financed by 2 paper routes, cutting grass in the summer, shoveling snow in the winter. Bought a "lot" of 10 different large cents mail order when I was about 12 or 13. Had my first 2 gold $20`s by the time I was 15 (a 1924 Saint for $55, and an 1898-S Liberty for $60!) Bought a group of about 20 half-dimes and another group of about a dozen capped bust halves not too much long after. Bought the odd half cent, 3 cent nickel and silver, Barbers, etc., here and there. Although my focus now is higher grade Morgans and Morgan Vams, I have always loved the type coins, and they are at the root and heart of my collecting virus (incurable). That is my personal take from the early 60`s on. Type coins and sets were popular back in the day. Good thread Speedy!!!

Apologies for the run on sentences and paragraph!

 

The original post seems to infer to how say slabbing and increased interest in errors might have changed the goals of the modern collector. In the US market (as an outside observer) it seems there are certain trends, collecting fashions. The collecting approach of the moment, be it registry sets or errors.

As someone in the UK where slabbing has not caught on and everyone still seems to shun the decimal coinage still just like they did in 1971 when it first took over, things haven't seemingly changed that much. Collectors in the 1950s and 1960s scoured through their change for either silver or for keys and rarities, notably Edward VIII coins and the 1933 penny. Even now in 2005 i still hear newbie collectors say they look through junk boxes for 1933 pennies. Considering only 7 exist and they are to my knowledge all accounted for it suggests they're not going to find one any time soon. Seems we guys still look for the same coins now that we did in 1955.

There are collectors of modern coins out there but they tend to either be non native collectors, newbies or the casual collector. Most get converted to predecimal quite quickly.

 

MORGAN DOLLARS. Seemed noone could get their fill of good quality Morgan's. Error coins were mostly over-looked unless of course a key error or top 100 vam. Toned coins were also plentiful but noone seemed interested and the prices reflected it. Dealers seemed relieved when they sold one, like they were glad it was finally gone and they always sold for far less than their white counterpart.

 

Good question...

Keys will not only be keys, but they will get more "keyed". You have a given amount of coins (with the exception of a found hoard) offered to an ever increasing collector/population base. That means less key coins for the population in the year 2020 than for us in 2005.

I remember at age 10 or so looking in the Red Book and the 1909S-VDB was going for $550 in BU condition. Well, at that time, it could have been $5 million, but as long as collectors have been around, you just can't help notice those columns (i.e., in a Red Book) of those key coins whose prices are listed in dollars compared to the commons listed in cents.

As long as we live in a free capitialist society and can handle the ill market effects of terrorism (look at the market after 9/11), keys will always be keys and the keys will always go up...if no hoard is found.

The advantage you have today than what I had 30 years ago is that if you buy a key date coin, I would make sure it is authenticated/slabbed. Actually, I am glad I could NOT afford keys early on as a collector as I think back to all of those coin shows where these dealers were letting me hold and look at the 1909S-VDB or 1914D examples. I am sure I had "newbie" or sucker all over my forehead and could have been an easy mark to buy one of these coins.

I was reading a recent David Bowers article that stated years ago that over HALF of the 1916-D Merc's being sold on a one coin show floor were counterfeit! I am sure that many of the these dealers (knowingly or not) were looking for newbies to unload their junk.

So, I could only wish that I had something like this (internet) when I was young. I had to read actual books which is something many young people don't wish to do. They figured if they can't find the answer to their question in 2 or 3 clicks of the mouse, they forget it...or much worst, they get great advice here only to ask the same question again in a mindless thread, just to increase their post numbers.

Knowledge is key! Learn it and live it.

 

I think your talking about the Buff..I agree but I listed it because it seems many collectors today are wanting it...

Not so much dropped out but have fallen a bit....I think in the 1950's the 1950-D Nickel was much higher than it is now---I also think that back then the 1931-S cent was higher than it is now...

I agree...but when I read forums and papers and such it seems that many collectors do want them.

Thanks again guys....this thread is helpful!

Speedy

 

I think I mentioned it back in another thread but I remember when dealers NEVER advertized a coin having a die crack. Usually they hoped that you didn't notice the crack and when you did they would usually deduct from the price because of the "blemish". I find this true today at shows. Most dealers still don't consider die cracks as a "big deal" and although they might not deduct now, they seldom raise the price because of them. I wish I had a dollar for everytime I have been told, "Oh, that's just a die crack". I guess today just because there's another Buffalo on the nickel, people think there will automatically be another major variety like the 3-legged so they're grabbing everyone they see.

 

How could they be dealers and not know that they have fakes??? Or are they just playing dumb for other reasons???

P.S. My 1916-D isn't a fake!!!

 

hehe everyone who posted here is OLD!!!!!!!!!!!!!

 

Great thread. It is...

1. Informative ["the keys are the keys"]

2. Interesting ["Toned coins were also plentiful but noone seemed interested"]

3. Terrifying ["over HALF of the 1916-D Merc's being sold on a one coin show floor were counterfeit"]

4. Historical ["a 1924 Saint for $55, and an 1898-S Liberty for $60"]

5. Globalist ["in the UK where slabbing has not caught on"]

...all at the same time.

 

GD Where do you come up with these statistics??? I respect your opinion on most coin topics but I begin to get suspicious when people start throwing around numbers. Are you quoting some article? Or is this just anecdotal???

I don't mean any disrespect but I like to know where "facts" come from before I accept them as facts.

 

1916d

Looks good to me. And yes I am an expert

 

Here, here...think about it for a minute. 1916-D in AG3 to G4 condition is one of the MOST counterfeited pieces in numismatic history. I agree with GD that many articles I have read on the subject all state this very fact. Recently, I talked with graders at ICG at the FUN show earlier this year who told me about the number of 16-D's that are submitted to them every year where they have to send them back with "added mint mark" notation on the body bag, only to the dismay of the submitter who thought they had the real deal...and paid dearly for it.

Ouch!