Finding Hidden Numismatic Value
Collectors are always looking for the best numismatic values. Price guides and catalogs may not be as helpful as you may think.
Collectors are always trying to figure out what is the best value in numismatics. Here is an example where price guides and catalogs may not be as helpful as they could be.
The 1883 and the 1901-S $10 Liberty in Choice Mint State-63 condition both catalog for the same value in the 2024 edition of the Red Book. They also catalog for the same value in the current PCGS Retail, although at different prices than in the other reference.
In the September 2023 issue of The Greysheet, the bid for the 1883 is $100 higher than the 1901-S. In the September 2023 issue of U.S. Coin Collector’s Price Guide Values enclosed in the issue of that month’s The Numismatist, the 1883 lists for $120 more than the 1901-S coin.
Also see: Prices Not Cast in Stone in Guides
If you knew this much information and nothing else when you might be offered to choose between these two coins, which would you pick? Assuming that the visual appeal was the same if the price were the same, would you go for the 1883? If the 1883 would cost a higher price, how much more would you pay to still choose this coin over the 1901-S?
Here’s some more information that might affect your decision. The 1883 $10 Liberty has a mintage of 208,700, while that of the 1901-S is 2,812,750.
To dig even deeper, the current combined PCGS and NGC populations for these coins in MS-63 quality is 302 for the 1883 and 13,801 for the 1901-S. Would this make you willing to stretch even more in price to take the 1883?
If you check into more details, you will see that PCGS and NGC together have certified a mere 16 pieces of 1883 $10 Liberties in all grades higher than MS-63, while they have graded another 13,152 of the 1901-S in MS-63+ and all in nicer condition.
With all this additional information, you would be certain that if attractive specimens of both of these coins were available at the same price, you would definitely choose the 1883. You might well be willing to spend significantly more to opt for the 1883, maybe even more than the $120 difference listed in the CPA Values.
As you review catalogs, price guides, and population reports and look at actual coins, you can find hidden numismatic values in lots of places.
Correction to Last Week’s Column
In the discussion last week about the first appearance of “In God We Trust” on U.S. currency, I erroneously stated that it first appeared on the Series 1957 $1 Silver Certificate. As some sharp-minded readers quickly reminded me, some of the Series 1935G $1 Silver Certificates were the first to bear this motto. I apologize for the error and thank those readers for this correction. (This has been corrected in the article - Editor)
Answer to the Previous Trivia Question
Two weeks ago, I asked: Victor David Brenner’s original proposed design for the reverse of the Lincoln cent was rejected because it was too similar to which foreign coin? The answer was the then-circulating France 2-francs coin.
This Week’s Trivia Question
Which U.S. Mint director received a degree from Michigan State University, and in which field?
Patrick A. Heller was honored as a 2019 FUN Numismatic Ambassador. He is also the recipient of the American Numismatic Association 2018 Glenn Smedley Memorial Service Award, 2017 Exemplary Service Award, 2012 Harry Forman National Dealer of the Year Award, and 2008 Presidential Award. Over the years, he has also been honored by the Numismatic Literary Guild (including in 2021 for Best Investment Newsletter), the Professional Numismatists Guild, the Industry Council for Tangible Assets, and the Michigan State Numismatic Society. He is the communications officer of Liberty Coin Service in Lansing, Mich., and writes Liberty’s Outlook, a monthly newsletter on rare coins and precious metals subjects. Past newsletter issues can be viewed at www.libertycoinservice.com. Some of his radio commentaries titled “Things You ‘Know’ That Just Aren’t So, And Important News You Need To Know” can be heard at 8:45 a.m. Wednesday and Friday mornings on 1320-AM WILS in Lansing (which streams live and becomes part of the audio archives posted at www.1320wils.com).
