News Feeds
Coin Collecting News
ValueQuest 2009
I have the feeling that the Numismatic Buzzword for 2009 is going to be “value.” If you are like most collectors, your purchases in the coming year(s) are not going to be as extensive as they were in the past. If you are buying fewer coins, you’ll want to stretch your coin purchasing dollars and look for pieces that offer the biggest bang for the buck. I have a few suggestions, which are mainly conceptual in nature, to guide you along the Value Trail.
Regardless of series, date or mint, coins that have a nice, original appearance are very rare. My definition of “original” is a coin that appears to not have been cleaned, dipped, processed or otherwise enhanced in recent generations. In many series, especially ones like early gold and southern branch mint gold, truly original coins probably represent less than 5% of the available population. If you don’t believe me, take a look sometime at a large auction that is held in conjunction with a major convention. Assuming that you know what you are looking for, my guess is that you’ll see coin after coin that is too bright or bleached out or bedecked with “unusual” coloration. In some sales there may be thirty or forty early gold coins and only a small handful that fit my criteria of originality.
It makes sense to me that if you are going to buy fewer coins in 2009 (or, who knows, maybe you won’t buy fewer coins, just less expensive ones…) you should be buying prettier, more aesthetically appealing ones. And one of the things that I am continually amazed about in the rare date gold market is that, when they are available, choice, original pieces tend to only bring a small percentage (10-20% at most) over the typical “schlock” that is usually offered.
Another important point to consider when purchasing coins with a newfound appreciation for value is current market price versus prices in 2002-2003. I use 2003 as the point in time that prices in many gold series began to rise significantly. As an example, many early gold coins that were worth $6,000-8,000 in 2002-2003 had been at that level for quite a few years. Today, these same coins may be worth $10,000-12,000 or even more in some cases.
Regarded in the past as a hub impression of the modified Gobrecht Seated Liberty design. However, a hub impression would have the design reversed. We believe this is a trial from the master die. This is the With Drapery design that is struck on an oversized planchet. This impression was struck, according to the Judd book, after Robert M. Patterson asked Robert Ball Hughes to prepare a plaster medallion of Gobrecht’s design for use as the basis for a new hub.
The underlying core appears to be a base metal, darkish gray in color. Why was it brass coated if it was meant to simulate a quarter? The eagle on the reverse is notably soft around the outline of the eagle’s body. Why would a master die impression lack highpoint detail? Why are the peripheral design elements raised? It appears that a circular inner border was scored in the master die, then the letters were individually punched in–note the unevenness of QUAR. The reverse field is considerably lower and seems to have been polished away from the raised “track” for the peripheral lettering.
One view in archaeology today is that private citizens of any given country have an ethical responsibility to preserve the cultural heritage of all countries. The foundation for this view seems to be that cultural property protection requires a global effort. In 1970, the United Nations Educational, Scientific and Cultural Organization (UNESCO) codified this view through a resolution designed to control the transfer of cultural property between nations through the application of implementing legislation in member states. Indeed, the adherents of UNESCO 1970 would like to see a more global approach to this legislation.
* 1813 1c PCGS MS65BN $207,000
