Why are old state commems so cheap despite rarity?

That's what they did with the State Quarter Series, AND the ATB Series, AND the Innovation dollar series. Are you collecting those?

 

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No but the difference is that these would’ve been nearly a century old and 90% silver and the designs would have been chosen by the people of that state.

It’s like comparing collecting Morgan Dollars to Sacagawea Dollars.

 

I don't understand your position that the demand is not higher, I guess because I don't know the basis of what you are using as a demand evaluation.

An observation only, and no other reason; certified SILVER COMMEMS are selling wholesale @ 20% above current Grey wholesale...whether or not CAC.... to market makers, so add another add-on retail of 12-20% give or take to that. This has been going on for a while. BTWs and Carvers don't seem to be enjoying that level of interest, but still, the market is not turning its nose up at the rest.

That seems to me to be a 'demand' indicator.

 

"No but the difference is that these would’ve been nearly a century old and 90% silver and the designs would have been chosen by the people of that state.

It’s like comparing collecting Morgan Dollars to Sacagawea Dollars."

You could collect the silver editions of the State Quarters and other state related series. They would be quarters, but they would be made of 90% silver. As an added bonus, the prices have come down for many of them. The 1999 silver set used cost over $300. Now it's less than $100, and that's the highest priced set in the 1999 to 2008 State Quarter series.

 

The thing is the Classic commemorative halves had very little to do with the government. Each one was the idea of some small group that successfully lobbied their Representatives and Senators. There was no coordinated effort between the groups, and the Treasury and the Mint considered the commemoratives to be a nuisance. These were not a money making business for the government like the modern commemoratives are.

Well they aren't a century old but all the state quarters and ATB quarters come in 90% (or .999 fine silver) as proofs, And as for the state quarters up through 2004 or so the designs were submitted and selected by each state. The creator of the 2004 Missouri design made a big public stink over changes the mint made to his selected design. After that the mint required states submitted verbal design descriptions and the Mint staff created designs from the verbal descriptions. But the individual states then selected which of the mint designs would be used. The exception was Mississippi. They never submitted designs so the mint engravers came up with thier own and the Secretary of the Treasury approved it.

 

I know that!

No offense but why do people keep repeating back to me what I say?

I say:

“The coins would have had a much higher demand if they were done by the states themselves instead of greedy promoters bu unfortunately they weren’t.”

& then people reply to me repeating what I just said.

“No they weren’t done by the government.”

I don’t get it. Why do people keep repeating back to me what I already said?

It wasn’t just you either it’s happened several times on this thread.

I wish people would read everything I wrote so they don’t waste their time telling me things that I already know.

 

Or, in the case of the 1936 Elgin Commemorative, the project it was supposed to fund was eventually completed -- in November of 2001.

 

Yikes.....

 

Im not trying to be a jerk it’s just that it keeps happening and I don’t know how else to phrase it.

I posted quite a few times that I misunderstood how it worked and that it was a shame that it wasn’t a government thing and ended up turning into a weird series due greed and self promotion and then you posted to me informing me that it was not a government run thing.

It makes it seem as if I’m not listening to what I’m being told by others when the complete opposite is true.

 

I certainly understand your point, but I think the misunderstanding is the government involvement.

There are 2 Congress committees that consider and approve commemorative coinage, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Banking and Financial Services of the House, and the input of the Citizens Advisory Committee. These reports are then the basis of Congress passing a Bill to authorize the coinage.

I guess it can be argued that lobbying and behind the scenes finagling occurred and these issues are not 'really' coins blahblahblah. It can be argued that the Mint and Treasury considered such pieces a PITA.

However, except with a few coins, the commemorative coinage was historically significant and the proceeds were used for appropriate historical honor of whatever event or person or place, be it via construction of a monument or funding a celebration or whatever.

The point is, it is about Art and History, and to me that is the exact basis of collecting.

I disagree that the issues of such pieces were not a 'government thing'.

I disagree that the coins have little to do with the government. I disagree that there was not a coordinated effort between the groups or parties or the States involved.

The Commemoratives were not intended to make money for the Federal Government, but in a way they did, because the citizens of a State wanted recognition of the historical subject being honored, and the funds from the sale of the pieces were used for that purpose, and that had a very real economic impact, via sightseeing, touring, education, etc., and most likely Congress would have appropriated money for the purpose (and did, in many situations, actually).

The demand for these pieces have always existed. Yes, it waxes and wanes based on $ cost at any one time, but that does not transfer as less demand or less popularity. That may be confusing profit/investment collecting with hobby collecting.

As to others not listening to what you opine, I am the undisputed poster child for same and wear it like a Badge of Honor, because I know stuff.

Don't Smith me, Bro.....

 

But they would not have been a century old when struck. They would be recent coinage - much like the Sacagawea Dollar and State quarters are now.

 

I know but think about it..

Morgan Dollars are super popular yet no one collects modern dollars.

 

Between 1878-1904 there was not many people collecting Morgan Dollars. Heck even long after these dates. Morgans and Peace dollars flowed out of Las Vegas slot machines until the mid 1960s.

 

I'm generally with you. Comem's are a bargain from the perspective you mention. Consider the frenzy over modern limited edition releases from the mint. I think they are a bargain because they are outside the regular circulated coinage. I think people see them as not "real" coins to some degree, even though they are very much real half dollars and dollars. Lastly, a lot of folks are just not that aware of them.
I don't expect that to change. Just enjoy the good fortune of fair prices for that level of mintage and quality.

 

Interesting article on the topic --> https://coinweek.com/coins/commemor...se-and-fall-of-the-commemorative-coin-market/

 

"1892 Columbian: 1990: $3,850 • 2022: $275"

Holy buckets! I had no idea the market was like that in 1990, as I had no interest in coin collecting for a couple decades. In today's dollars that's $8500.

 

1990 was right after the market peak and at the start of the crash. I remember watching slabbed MS-65 1881 S Morgan dollars approaching $1,000 apiece. A year or so after the peak they were back down around $30 to $35.

 

David Bowers published a great book back in 1991 on Commemoratives. It's a long read at almost 800 pages. Some of the history was really crazy. Fun book for someone that is really into collecting commemoratives.