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<p>[QUOTE="Lehigh96, post: 429249, member: 15309"]Most coin collectors have real problems when it comes to the key date/s of the series they are collecting. Perhaps the Washington Quarter collector is building a set of gem state coins, but he can't afford that 1932-D or 1932-S in MS63 much less MS65. Most collectors settle for a well circulated example just to fill the slot. There is no doubt that it is a dilemna. My solution is to be patient and look for an opportunity to obtain a high quality and eye appealing coin at a much lower price than the MS counterpart. AU coins are very tricky, especially the AU58. They are not all created equal. They key to obtaining those key dates is to look for the rare AU64. The AU64 is a slider that if the wear was not present would grade either MS64 or MS65.</p><p><br /></p><p>These coins do not appear on the market very often, and when they do, you must be prepared. You have to be willing to pay a significant premium to obtain one of these coins and realize that you are still getting a good deal regardless of what the price guide says. Look at it this way. If you had an MS65 and added a few surface marks to it, the grade drops one or two points and the eye appeal and price drops accordingly. If you have an MS65 and you rub it and create wear, it drops 6 points and the price plummets even though the eye appeal of the coin in question really doesn't suffer to that extent.</p><p><br /></p><p>Ok, lets look at some visual examples of what I am talking about. I will compare a few coins and the relative values involved. Lets start with the Peace Dollar series. It is a short series and relatively easy to complete in Mint State with the exception of the key dates: 1921, 1924-S, 1928, & 1934-S. IMO, Peace Dollars are not very attractive under MS63 grade, but all four of these coins are rather pricey in MS63+. What to do? Look for the AU64. Here is an example of an AU64 1928 Peace Dollar. I have placed it next to an MS63 1928 Peace Dollar for comparisons sake.</p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/Peace%20Dollars/PeaceSliders.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>The AU64 example has clean surfaces, a solid strike, pleasing luster with some breaks due to wear, and is extremely attractive for a circulated Peace Dollar. This coin sold for $488 at auction which is $58 above wholesale which equates to a 13% premium. The MS63 coin has some major marks right in the focal area of Miss Liberty's cheek, another solid strike, and blazing luster and eye appeal for an MS63. This coin sold for $722. So here is the question, is the coin on the right worth $234 more than the coin on the left? Maybe, maybe not. But for the collector who can't afford to make $700 purchases on a regular basis, the AU64 example clearly provides a better value.</p><p><br /></p><p>One more example. Since I started talking about Washington Quarters, lets take a quick look at some 1932-D Washingtons. Please excuse the photos, they are from Heritage, but should adequately demonstrate my point.</p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/Washington%20Quarters/WashingtonSliders.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>In this instance, I would argue that the slider is actually more attractive than the MS63 example. The AU58 sold for $863, which is $103 above wholesale which again equates to a 13% premium. However, when you compare the price of the AU58 at $863 to the $2,530 price tag of the MS63, it is a little hard to swallow paying $1,667 more for a coin that is not even as attractive.</p><p><br /></p><p>What coins we collect really depends upon our personal preferences and our budgets. IMHO, the AU64 slider is one of the best values in numismatics with relation key date coins. For everyone in search of a key date coin, keep your eyes open for the elusive AU64 slider.[/QUOTE]</p><p><br /></p>
[QUOTE="Lehigh96, post: 429249, member: 15309"]Most coin collectors have real problems when it comes to the key date/s of the series they are collecting. Perhaps the Washington Quarter collector is building a set of gem state coins, but he can't afford that 1932-D or 1932-S in MS63 much less MS65. Most collectors settle for a well circulated example just to fill the slot. There is no doubt that it is a dilemna. My solution is to be patient and look for an opportunity to obtain a high quality and eye appealing coin at a much lower price than the MS counterpart. AU coins are very tricky, especially the AU58. They are not all created equal. They key to obtaining those key dates is to look for the rare AU64. The AU64 is a slider that if the wear was not present would grade either MS64 or MS65. These coins do not appear on the market very often, and when they do, you must be prepared. You have to be willing to pay a significant premium to obtain one of these coins and realize that you are still getting a good deal regardless of what the price guide says. Look at it this way. If you had an MS65 and added a few surface marks to it, the grade drops one or two points and the eye appeal and price drops accordingly. If you have an MS65 and you rub it and create wear, it drops 6 points and the price plummets even though the eye appeal of the coin in question really doesn't suffer to that extent. Ok, lets look at some visual examples of what I am talking about. I will compare a few coins and the relative values involved. Lets start with the Peace Dollar series. It is a short series and relatively easy to complete in Mint State with the exception of the key dates: 1921, 1924-S, 1928, & 1934-S. IMO, Peace Dollars are not very attractive under MS63 grade, but all four of these coins are rather pricey in MS63+. What to do? Look for the AU64. Here is an example of an AU64 1928 Peace Dollar. I have placed it next to an MS63 1928 Peace Dollar for comparisons sake. [IMG]http://i117.photobucket.com/albums/o59/ACPitBoss/Peace%20Dollars/PeaceSliders.jpg[/IMG] The AU64 example has clean surfaces, a solid strike, pleasing luster with some breaks due to wear, and is extremely attractive for a circulated Peace Dollar. This coin sold for $488 at auction which is $58 above wholesale which equates to a 13% premium. The MS63 coin has some major marks right in the focal area of Miss Liberty's cheek, another solid strike, and blazing luster and eye appeal for an MS63. This coin sold for $722. So here is the question, is the coin on the right worth $234 more than the coin on the left? Maybe, maybe not. But for the collector who can't afford to make $700 purchases on a regular basis, the AU64 example clearly provides a better value. One more example. Since I started talking about Washington Quarters, lets take a quick look at some 1932-D Washingtons. Please excuse the photos, they are from Heritage, but should adequately demonstrate my point. [IMG]http://i117.photobucket.com/albums/o59/ACPitBoss/Washington%20Quarters/WashingtonSliders.jpg[/IMG] In this instance, I would argue that the slider is actually more attractive than the MS63 example. The AU58 sold for $863, which is $103 above wholesale which again equates to a 13% premium. However, when you compare the price of the AU58 at $863 to the $2,530 price tag of the MS63, it is a little hard to swallow paying $1,667 more for a coin that is not even as attractive. What coins we collect really depends upon our personal preferences and our budgets. IMHO, the AU64 slider is one of the best values in numismatics with relation key date coins. For everyone in search of a key date coin, keep your eyes open for the elusive AU64 slider.[/QUOTE]
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The secret to collecting key dates (The elusive AU64 slider)
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