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- From mantoloking2002@yahoo.com Thu Oct 10 21:52:54 2002
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Date: Fri, 11 Oct 2002 04:52:51 -0000
To: colonial-coins@yahoogroups.com
Subject: [Colonial Numismatics] Re:53-j
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Dennis,
Do you see the same three tier market developing that I do?
Roger
--- In colonial-coins@y..., "albioncox" <wierzba@a...> wrote:
> 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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