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Saturday, October 9, 2010

Rare Coins What Is Rare?

Hi Pop Pino
    So you think your coin is rare? What is a rare coin? What make a coin rare?
many people believe if a coin is old it must be rare and worst money. In realty Must old coins mintage are very high and very available. Lets look at the 1916 D Mercury Dime, can we call this a rare coin?
The Mintage for this coin was 264,000, a small mintage for a very popular series. Many first year coins have been saved in quantities, not true for the 1916 D. All the coins were put out to the public. So can we call this a rare coin? Low grade coins can be had, any mid grade coins can be found for the right price.So at this point can we say that the coin is rare? No. But in choice mint state and in full bands the coin is a true rarity. Very few examples exist and the ones that are available are prices and are gobbled up as fast as you can blink an eye.
 Lets look at the 1914 D Lincoln head penny. Mintage of 1,193,000.  Not minuscule. How can this be a rare coin? This coin was ignored at this time. Mint marked coins were not collect like the Philadephia coins. The mint mark coin had no demand and very few were saved. Mint state 1914 D coins are extremely rare and this coin is a major key to the series.
Keeping this in mind, look at the 1931 s Lincoln head, mintage of 866,000. Way below the 1914 D. The public was in tune to this and hundred of rolls were saved. A mint state example could be found easy with a lot lessor price tag.
So can we call a 1893 s Morgan Silver dollar with a mintage of 100,000
a rare coin? Morgan Silver dollar are widely collected. Dated from 1878 to 1921
million of Morgan dollars have been minted. For many reasons coin in the series became rare. The Government recalled 250,000 silver coins (mostly Morgans)for melting. Maybe 14,000 or so coins survived. Most in VF mid grade & not showing much detail. Two High Grade 1893 s exist both MS67 one by PCGS & One by NGC. After these two maybe a couple of dozen Mint state coins are left. This coin is truly rare.
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