SBA Varieties

Discussion in 'US Coins Forum' started by ewomack, May 1, 2016.

  1. ewomack

    ewomack 魚の下着

    In an attempt to get a different perspective on collecting, I decided to try collecting a series rather than a random sampling of types. Since this was an experiment, I wanted to try it out on a series that wouldn't rip a flaming hole in my wallet. The easiest series I could think of was SBA dollars. They only ran for an extremely short time, countless billions were minted and they're almost embarrassingly cheap.

    Needless to say, obtaining high grade specimens for each year presented no challenge whatsoever. After two coin shows and 15 minutes on ebay I already had a 1979-S, 1980-S, 1981-S and 1999-P all PCGS certified PF69DCAM. I spent from $8 to $22 on each coin. Of course these were all Type 1.

    Now comes the problem. Do I really want to spend the extra $200 - $250 to complete this set and buy the Type 2 coins? I know SBA haters are already wondering why I even bought a single coin, but that's okay. Though I'm apprehensive to admit this outloud, I actually kind of like the under-appreciated and oft-maligned SBA. But that's my problem.

    The 1979-S Type 2 doesn't pose a massive financial challenge. I've seen it selling for $50 - $60 in PF69DCAM. Apart from the thought of spending that much on a modern clad coin, I'm not too extremely worried about it. But, and this represents a massive but, that 1981-S Type 2 is a killer. At a coin show today someone quoted me $180 for a PF69DCAM and I've seen it listed even higher than that. Egad. Part of me wants to complete the set and another part finds the concept absolutely utterly hopelessly insane. This is a clad coin, after all.

    So, one question as I pursue my Quixotic quest. Do the less common SBA types have any resell value whatsoever? Or will a dealer that I purchase one from thank his or her lucky stars that a sucker finally came along and erased that humiliating splotch from the display case? Does anyone really want these types?

    Not that I would buy it for resale value or with any intention of dumping it, I just always consider the, hopefully never realized, possibility that I'll have to unload coins in the future and I don't want to buy an absolute dead weight.

    So there it is.
     
    green18 likes this.
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Smojo

    Smojo dreamliner

    I thought the same thing. I have absolutely no love for the SBA, but a few years ago I thought what the heck. I lack only the 1 you mentioned. The 1981 S type 2. I don't think I will finish that collection ever. When I started it, it was on the thought the whole collection would be under $100. Was something I could give my granddaughter when the subject strike an interest in her life. I have several type 1''s & the other easy cheap find ones. One day the grandkids just might enjoy them. Who knows
     
    ewomack likes this.
  4. tommyc03

    tommyc03 Senior Member

    I would not beat yourself up about it too much. It is an inexpensive set to fully complete without going into the bank to get a loan for that one variety to make it complete. I believe the pricing of the type 2's have settled to where they will probably stay for the long term. On the other hand, imagine trying to complete a set of Large Cents and all the varieties this series has. Or for us older collectors who remember the holes in the Lincoln Cent albums for the 1955D/D and 1972D/D. They were varieties also and should never have been in the albums but we were all scratching our heads trying to figure how we would ever afford to fill those holes. And remember the 1950D Jefferson which got up to $100.00 and then settled at $15.00. Don't worry about the long term of this one coin, collect what you like, enjoy them for the time you have them and have fun completing the set.
     
    ewomack likes this.
  5. aronsamma

    aronsamma Active Member

    It might be worth it. I have a whole set myself: cheaper issues in pf70, but most in 69. Everybody seems to hate them but they're still worth a fair bit of money... I don't see them going down any more due to further unpopularity. I wouldn't call SBAs an investment but I certainly don't think they're in a bubble either.
     
    ewomack likes this.
  6. Dancing Fire

    Dancing Fire Junior Member

    The 81 PR TY-2 is pretty tough to find. I remember paying $6 ea. for the 81 Ty-2 PR dollar, b/c back in the early 80's very few people knew what a genuine TY-2 PR coin look like. I was able to sell these to another dealer for $100 a coin. CDN bid is still at $100 today.
     
    ewomack likes this.
  7. joecoincollect

    joecoincollect Well-Known Member

    I don't think the common ones would have much resale value. The think you're suspicion is correct about dealers considering you a sucker by buying those things. I'd probably sell the common ones and just get the the key dates, like the one you mentioned and the 79 close date
     
    ewomack likes this.
  8. World Colonial

    World Colonial Active Member

    This is my least favorite coin from all US coinage (and I don't collect any US any more). I would also rate it at or near the bottom of the preference scale among all US series by collectors of US coins in the aggregate. The only other that might be lower is presidential dollars.

    On occasion, I have looked at the NGC and PCGS population reports and Heritage archives for this series, as I have for practically all other US. The counts in the higher grades and the prices appear to indicate that the series has a (likely very) small (but possibly not very hard) core following but that is all.

    Like other US modern series, I suspect most of the higher TPG grade coins were "made" vs. bought at open market prices. You might get most or all of your money at resale if bought at "retail" but I wouldn't count on it any more than I would with most other coins.
     
    ewomack likes this.
  9. medjoy

    medjoy Active Member

  10. ewomack

    ewomack 魚の下着

    I really appreciate the responses so far. It's absolutely great having access to such an active forum.

    The other factor that makes me suspicious about the 1981-S Type 2 SBA is that I - of course speaking only from my own experience - don't seem to have any trouble finding one. At the last 5-6 shows I've attended I've seen more than one specimen in a few dealers' display cases. The show I mentioned above, the one where a dealer quoted me $180, was a small show with maybe a dozen dealers or less. At that show I even saw three of them, though I think only 2 of them were PF69DCAM. This gives me the impression that this allegedly rare and expensive coin, at least for a modern clad, is pretty unpopular. Given the price, this doesn't surprise me. But multiple factors also play in, of course. And of course expensive coins tend to move slower at smaller shows.

    I will very likely take the plunge on the 1979-S Type 2 and that will probably put intense pressure on my collector's conscious to also grab the hideous monster of the series. Psychology always plays a role.
     
    medjoy likes this.
  11. Mickey in PDX

    Mickey in PDX Active Member

    Ewomack: I am really enjoying this thread. What is so very interesting to me is that here is another collector sharing his thoughts about collecting a coin or set of coins and the mental struggles on this. We usually see decisions, not ruminations on 'what should I do?' kind of struggles. I think many experienced collectors are well past this and are "into" a set or whatever, but any collector that is exploring going into a new area, has these kinds of thoughts. As an older guy, I look at collecting in a new area with these same thoughts. doubts, whatever.
    Be well and enjoy your decision ewomack.
     
    green18, medjoy and ewomack like this.
  12. World Colonial

    World Colonial Active Member

    If you really want one you should consider buying one "raw" and sending it in for grading yourself. Someone else here may know the relative availability between these varieties but I do not. However, I do know that the mintage is several million sets for both 1979 and 1981 which means there must be a lot more out there.
     
    David Leu and ewomack like this.
  13. Dancing Fire

    Dancing Fire Junior Member

    I wouldn't pay more than $90 for the 81 Ty-2. Don't fall for these modern coin PR/MS 69-70 B.S...I wouldn't offer more than $75 for a raw coin.
     
    joecoincollect and ewomack like this.
  14. Smojo

    Smojo dreamliner

    Pm
    PM this evening about 6 CT. When I get home I will get mine out. I'm pretty sure I have a PCGS PR67, 79 Ty2. If that's a grade you can be satisfied with maybe we can work something out.
     
    ewomack likes this.
  15. Dancing Fire

    Dancing Fire Junior Member

    A complete "original set" of 81 TY-2 is at least 10X rarer than the 79 TY-2 set.
     
    ewomack likes this.
  16. ewomack

    ewomack 魚の下着

    Ah, yes, good advice, but I neglected to mention that the coin quoted was in a PCGS slab as PF69DCAM. I'm only looking at slabbed coins. I would have to do more research and studying to buy one of these raw.
     
  17. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    Don't buy a coin you don't like just to fill a hole. If you liked it enough to buy it you wouldn't be questioning the price. Pass.
     
    ewomack likes this.
  18. Dancing Fire

    Dancing Fire Junior Member

    If my dealer friend have one in his shop I'm pretty sure I can buy it for $75-$80. IMO, PR67-PR69 worth the same money. Don't go crazy paying a big premium for these modern coin just b/c the slab say PR69. ...just a hype...;)
     
    ewomack likes this.
  19. Dancing Fire

    Dancing Fire Junior Member

    One time I got lucky and found 6 complete set of 81 TY-2 for $10 ea. I then sold it for $150 ea.
     
    ewomack likes this.
  20. World Colonial

    World Colonial Active Member

    I just did an internet search for the '81 proof set mintage. It shows just over 4MM. Dividing by 11 to come up with your minimum ratio implies the '81 Type 2 might have as many as 360,000, nowhere remotely scarce.

    I don't know how many of them are "original" if by this you mean in the OGP but regardless, the coin is out there and no reason to believe anywhere near most of them are graded either because the price is not that high.

    The PCGS population report alone records 3643 in 69 DC and 265 in 70 DCAM. I wouldn't pay anywhere near any of the prices included in the above posts for this coin. There could potentially be 10 times both these numbers actually available, at minimum.
     
    ewomack likes this.
  21. joecoincollect

    joecoincollect Well-Known Member

    So what distinguishes the Type 1 from 2? From what I remember, is it the filled S mint mark and clear one?
     
    ewomack likes this.
Draft saved Draft deleted

Share This Page