In an earlier thread there was some mention as to why some coins seemed to be priced high given their relatively large mintages or availability. Well as one who has searched for what appears to be a common date or mintmark, I can tell you that this is often a harder task than it should be. Very recently another member and I were searching for a common date Seated Half Dollar. With a large mintage of more than 200,000 examples this would look like a cake walk. A fair price was offered for the example, yet the task of finding one is near impossible. Too often collectors look at a mintage and wonder why the values are so high. Most of the time it is relative to the time it takes to find an example. Many common coins are only common on paper.
Sir, Would it be a fair statement then to say that common date Liberty eagles will become more scarce to obtain over the near and long term resulting in price increase? Note the 1893S MS-62 for example PCGS has it at 690 yet at MS-63 it jumps up to 3800. Any thoughts on this particular coin or Liberty Head $20 would be kindly appreciate when it comes to what i think is the iminent fact that eventually Liberty eagles and St Gaudens will appreciate sharply? Thanks again. Joe
We only guess at populations based on mintages. Coins were melted, often in great numbers, as the relative prices of gold and silver fluctuated. Coins were exported in payments and then were melted and restruck into some other kind of coin. A lot can happen. So, we now today try to guess and the market tells us. I have been looking for an Uncirculated US $20 FRN from 1914 with the "Transportation Theme" and Wright Flyer. I started with Catalog Retail and went up from there... unsuccessfully now for three years. What interests me, also, is the other side: why coins with half the mintage of the next year carry the same price. This is especially true of Bust Dimes.
Common items are common. Unless there is some overriding reason to think otherwise, nothing changes. If people flocked to common Lib Eagles, the price might move a bit and then people would look elsewhere for other kinds of gold coins -- except those building Year and Mint Sets, perhaps. The population and census reports only show that there more MS-63s known than MS-62s. Also, they show that there is more reason to slab a 3 than a 2. In the case of this coin look at the historical context. It is pretty clear why so many are uncirculated. Why would they? You have yet to explain the reasoning behind your beliefs.
No - it would not. There are only two ways they could become more scarce. If a bunch of them were melted for some reason is one. The only way that could happen is if the spot price of gold outpaced the collector value. Now that could happen - but it isn't likely for as the value of the gold rises to that point - so does the value of the coin. The other way is if the series becmes so popular with collectors that examples are removed from the market and placed into collectors with strong hands. That means collectors unlikely to sell. But that isn't likely either.
GDJMSP: Thanks, I am collecting double eagles and Saints in common dates MS-62 or MS-63. I can only afford to buy maybe 3 or 4 a year. Any thoughts appreciated. Joe
Here you go folks. Another perfect example of how a collector should go about collecting. You never settle for what is close to what you want. You wait until the item that you want is available and you pay accordingly. That is how your collection will appreciate in value.
I love double eagles. Its amazing to know that people used to get paid with these. I showed my neighbor and he was blown away with the huge gold coin with such an old date. At the end of the day I love double eagles and saints as they are the prettiest coins, get the most respect and have a great chance to appreciate long term. Thanks for letting me share.
