US Commemorative Coins: Should one get classics, modern, or none?

One also needs to remember that there are the classics and then the dreck of the classical period, where anything that could rub three congresscritters together could (sometimes) get a commem. Vast (for the time and interest mintages), mediocre design, too many years and/or minor variations.

 

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I have purchased both classic and modern commems. I don't plan on completing a set. I buy ones in which the design appeals to me. IMO, many of the latest commem issues from the mint have left a lot to be desired.

 

I'm pretty keen on commems, both modern and classical. The classic market fluctuates from time to time, so depending on what you want to buy common wise, you can probably pick it up for a reasonable price. The keys, like Lafayette, Gettysburg, Spanish Trail and Hudson, are always gonna cost you some dough. Another thing.........depending on the grade of the coin, things can get rather expensive. On many issues, once you go above '64, prices sometimes skyrocket.

So pick out what you like and do it. I'm currently engaged in putting together a high grade set of Bookers and Carver/Washingtons.......

 

Personally, I have purchased every silver and clad commemorative in the post-1981 modern era. There a few gold coins, too. Many were purchased directly from the US Mint, others within the past two years at a much more reasonable cost.

I do not own any of the classics. One day, I will finally purchase a top quality example of a commemorative coin issued for the sesquicentennial of its founding, and my original hometown--Hudson, NY.

 

I have a question about the "keys". I thought the Isabella quarter is rarer than the Lafayette, but is cheaper. Why is that?

 

Not sure, but I'd hazard a guess that more folks saved them and kept them in decent condition. I see a lot of cleaned Lafayettes which makes for higher prices in mint state and high AU.

 

Well, whats your reasoning for collecting? Are you buying them as an investment or just looking for some you like that will at least hold their value?
Personally I have collected many different things including older and modern commems. Older commems have classic designs that are coveted and you're not going to get for bullion prices. I think modern commems popularity are highly dependent on the subject matter.
If you're a US Marshall or related to one, that set was great. If youre into Boy scout program that set was great. But those just aren't going to grab a large numismatic audience or appreciate in value much barring some rare miracle.
The 2011 25th anniversary ASE set release was a highly anticipated. A blast for some. Left others angry. People made money and the set is very cool. I kept a couple sets for myself. But I also bought a ms64 Pilgrim half for my US type set album because I liked the design.
You just gotta pick and choose what interests you. Whats unique. The march of dimes set grabbed my attention and I got one of those. But I skip most offerings they have.
The next upcoming exciting release, for me anyway will be the 2016 centennial sets with the gold merc dimes, standing lib quarters and walking halves to commemorate the 100th anniversary next year. Those will probably stir up alot of buzz and have high demand. If you want to get in at the floor at mint issue price on something that could become very hot, you always need to look ahead at whats coming up. Otherwise youre stuck getting gouged in the aftermarket. But the value of most modern commems goes down fwiw. Which is also a good thing because if you like it, maybe it's more affordable for you.

 

Oh yeah, mintage vs popularity will affect the final values greatly. I'll be keeping a close eye out for the centennial set mintage expectations. If they hold it to 100k or less, it'll probably be a crazed panic and prices could soar. If they decide to go 500k+, I'd probably sit back and buy down the road after some time has passed and the excitement has worn off.

BTW, a commemorative doesn't have to be expensive to enjoy it. There are some very cool, attractive ones from the 90s and 2000s that are very affordable. I like the civil war stuff or anything commemorating the mints, numismatics, or something historic personally.
The 1992 Columbus silver dollar with half ship half space shuttle is one example. Its not in high demand and there's plenty to go around but to me I thought it was a cool, and uniquely designed commemorative for that event. I bought a proof of it just a few years ago.

 

My reason for collecting is because I like collecting coins and appreciating their history, beauty, and rarity. I don't plan on selling much, but it would be nice to avoid a coin that depreciates massively after I buy it for the simple reason that I may find something better in the future and want to trade, etc., and I'd like to at least get most of what I put in back in those situations. I guess classic commemoratives might be the way to go, though I will be on the lookout for that 2016 centenary set the poster above talked about. It really interests me as a subject, and I might want to get it.

 

I'd spend money on books first rather than jumping all in and buying coins first. It's a hard thing to do as getting into or back into coin collecting is exciting. It's also a period of time when a lot of people buy coins at premiums they'll never recover or make other mistakes they later regret upon gaining more knowledge. Plus many books are filled with beautiful pictures of coins and you can get books on almost any type of U.S. coins.

 

I'd do your own market research, as many on CT simply spout old beliefs, rather than current facts. As for commems, I've lost big money on classics and made big money on moderns. So, go figure. My complete set of modern BU commem dollars cost around $2,500 and currently sells for around $6,000 and that's based on raw, even though many are MS/SP 70 because I cherry picked them from the mint.

 

I don't think you can go wrong with modern commems as long as you stay away from the urge to buy 70 grades. Most can easily be found in 69 grade and quite inexpensively. My only advice with the moderns is to make sure you examine the coin before buying. If buying on eBay, make sure the posted picture is THE coin you are buying. The moderns can become spotted and you don't want that. It can't be removed. The inventory is widely available so you can be choosy.

For example, Vess1 mentioned the 1992 Columbus. You can find it on eBay for $25 graded by PCGS or NGC in PF69 DCAM/UC. Not much risk. If you want a 70, the cost goes up significantly and so does the risk of future collapse. If you only want them for yourself, go the MS/PF 69 route.

In many cases you can also find them in OGP. Myself, I buy both moderns and classic commems when I find the design attractive.

For all coins, think supply and demand. For the classic designs, the supply/demand equation has pretty much been sorted out. The moderns, not so much. And the volatility could be very high.

 

@ jpcienkus, thanks for the sound advise regarding the MS-70 vs MS-69. I think I'll go MS-69 for any moderns as I want them for my personal collection. Also, thanks for the tips for shopping on Ebay for modern commemoratives.

@ Blisskr So far I have only a book on US Coin Prices for 2015, the red one you see in every coin shop. Is there any other material you would recommend?

 

@Sallent

I own this book and likely bought it from this source. I've found them to be one of the best overall resources for books. Good pricing, fast shipping, good customer service.

I would start with this book. If you find you want more info, you can branch out.

http://www.wizardcoinsupply.com/product/guide-book-of-us-commemorative-coins.html

 

If you're gonna collect commems, this volume is an absolute must. It's pricey but worth it in the long run.

 

@green18 , I assume that book is much more detailed than the Whitman book. What level of detail do they provide? Do you also have the Whitman book I linked? If yes, what's your comparison of the two?

 

I do have the linked book Joe, but it's an elementary issue. Great for the guy getting into the series but as you become more versed in the series you'll want to advance to the Swiatek book which goes into greater detail on all issues both modern and classic. Some of the things I find really cool about the volume is that he (Swiatek) shows pictures of all the original packaging on all of the issues as well as giving tips on how to detect counterfeits.

 

Kind of what I figured, but wanted to ask. It's a good book for me to put on my wish list. I'm not as into them as you, but good reference material is ALWAYS welcome in my library.

 

Although I most prefer classics, I think there is more long term potential in moderns than a lot of people realize. The 1980's issues with their huge mintages will probably never hold much of a premium, but a lot of the ones from the late 90's till now have total mintages of 200K or less and are decently designed. With so many of them going into slabs I could see OGP becoming scarce, so that's how I like to buy them.

Regardless of mintages, the historically obscure and/or ugly commems will probably always be "undervalued", as people have to actually like them for there to be demand...

 

I'd go with the classics and maybe just try to get a few designs you really like and buy a real nice example of each. Only commemorative I got is the pan pac half. Love the design!! And I got a real nice one. Also on my radar is the Maine and the york county one. Want a high grade example with attractive toning. The york one not appealing design wise to me but I live in York county Maine. Also want a pan pac $2.5. These are ones that have appeal and meaning to me you should do the same. Collect what you like. There's no right or wrong way