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- From wierzba@attbi.com Thu Oct 10 17:50:40 2002
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Date: Fri, 11 Oct 2002 00:50:35 -0000
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Subject: [Colonial Numismatics] Re:53-j
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From: "albioncox" <wierzba@attbi.com>
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I had no idea how many low grade NJs (and other colonials) existed
until I started to search EBAY. In some cases, %50 is too much IMHO.
Pedigree is an important attribute for a NJ, especially a Maris one,
either plate and/or collection. John Adams in LCs swapped higher
graded coppers for pedigreed examples. A C4 exhibit will feature ex-
Spiro NJs.
Choice NJs, VF or better, are very scarce, although availability is
somewhat proportional to rarity (ie, a nice 48-g, 46-e, 6-D, etc can
be found) For an R-6, maybe 5 or less are choice VF or better. If you
go for varieties, not many collectors can afford or find choice only.
Many R6's are locked up. I would guess, including museums, about 25
variety collectors. My study of the 71-y shows between 23 to 25
distinct coppers. The last public sale was Griffee/Taylor (to yours
truly) in 1995. I know of a low grade 71-y sale privately a year
later. Based on the lack of supply, I would have thought it was a
high R6. However, the variety collector base holds the 23-25 examples
to my surprise.
Let's never forget to enjoy what we own and sometimes we will be able
to buy a nice NJ at a cheap price.
In colonial-coins@y..., "mantoloking2002" <mantoloking2002@y...>
wrote:
> My halfpence....
>
> Let's see. First, Clem nice coin and particularly at a price of
$500.
> As it turns out, I own the Garrett coin and I paid $800 in 1996
when
> New Jersey's just started to run up in value. I woould say your
coin
> is bit more sharply struck than mine but with a tad more wear on
both
> obverse and reverse. If I were to grade them, maybe 35 on yours and
> 40 on mine but that is splitting hairs and I am a tough grader. No
> matter, it is an excellent CC coin and a good buy and I think it
> would bring a bit more in an auction if you turned around and tried
> to sell it.
>
> As for valuation of New Jerseys, I think it really has become a
three
> tier market over the last several years. 1. Low end, R-4s or more
> common coins with wear or damage move regularly on eBay for $50 to
> $200. People are forming small low end collections or getting a low
> end type with these. 2. Collector coins, VF to strong EF/AUs all
the
> way up to R-5+ that were coveted by maybe a dozen collectors from
> 1993 to say 1998 that were highly sought after and prices ran up to
> say $5,000 a piece. Over time all these collectors have formed very
> nice collections with very pleasing coins. So these coins when they
> appear are too much money for the low end and have very little
demand
> among the collector base of say 25 or so serious type collectors.
> These coins, like the subject 53-j are languishing until a new crop
> of NJ type collectors step up. Finally there are the top end coins.
> These are coins that are AU to UNC " among finest known coins " or
R-
> 6+ on up rarities. These have significant demand. There are the
type
> collectors that need rare varieties to chase that elusive 100
> varities number that will spend when that rare coin appears. There
> are a few high end CC collectors that want to build out their CC
> collections that are looking for both, and finally there are the
> slabbers that are selling finest known (by PCGS standards) to
> mainstream collectors that are looking for AU to UNC pieces. When a
> tier three collection comes up, the confluence of buyers will still
> drive high prices. Having contributed somewhat to O'Donnell, I
would
> say there was one surprise buyer that added maybe 20 to 25% to the
> prices of most of the rarities but, having said that, the rest of
the
> prices would probably happen again. Look at Hain.
>
> I actually beleive that these three tiers are permiating most of
the
> Colonial market I think that is a shame because there is so much
> diversity in the coinage and it should be shared among a wider
group.
> Love to hear differing or concurring views.
>
> Roger S.
>
> collectors--- In colonial-coins@y..., dmenchell@a... wrote:
> > Hi Clem:
> >
> > Congratulations on the 53-j. Nice coin for the money, at recent
> levels, that
> > is. This coin was a good deal at $500, but I think a marginally
> better coin
> > of the same variety at $8000 is kind of dopey, even if you're the
> Don with
> > one of your henchmen driving up the bidding. No question that
> coinflation
> > was rampant at the O'Donnell sale. Hopefully, the bubble has
burst
> and a bit
> > of reality will return. Otherwise, nice bust dollars and early
> gold at
> > under 10T seem awfully attractive by comparison.
> >
> > Dave M.
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