Creating Modern Day Rarities
I'm sure this has been a topic of discussion by many but new to me.My collecting is what I would refer to as mixed proof and US mint sets.Certified Morgan Dollars ASE as well as a bunch of junk.Only recently I have become somewhat interested in what I now personally refer to as (created modern day rarities) and I would like to read what other collector have to say about this topic.Thanks Richard
Hi Richard --
Haha! I have a good friend who has recently become interested in bullion. He reads all the ads, and constantly bugs me with words like "Wow! This one has a COA!" and "How much does an MS70 grade add to value?" and "Look at this elegant packaging." I continually tell him, Frank, bullion coins are worth bullion value, no more. Everything else is marketing hype. He does not believe me. I guess I am too harsh, but there are only so many times you can buy something at over bullion only to find out, when you try to sell it, all you can get is bullion value.
This is not to say that my position is 100% correct. The marketing hype (including intentional limiting of mintage quantity) does, in fact, create demand. But the demand has no solid basis, so my advice is always "Stay clear of numismatic marketing."
You might want to read a few articles the CoinQuest people have written on this subject. They are here:Reply
Paul thank for writing,Frank and a whole lot of folks buy into this marketing,Like you said there are exceptions but as a rule no.Personaly I don't believe modern should be graded and slanted but this has become a hugh industry and the graders and marketers are taking it to the bank.False advertising is another issue I see one seller advertising an item being sold out at the mint but guess what the mint site still has availability.Something else a legit foreign mint manufacturing a limited edition exclusively for one seller seems this is becoming very common (creating a modern day rarity)Sound intising but are these items going to have a following and become even more priceyReply
A lot of the modern day so called rarities were never actually rare when they was minted.
For example the Kew Gardens 50 pence. off the top of my head for circulation 240,000 were minted which is hardly rare or even scarce. But because a news article that ran in the online daily mail (fake news) Claiming it was the rarest 50 Pence in circulation everyone and their granny jumped on the band wagon looking for these coins. Now today the price for an average circulated one will set you back £40 if you're lucky. In fact they just seem to increase in value. Now by the same token the silver proof versions and piedfort proof versions have exactly the same demand and out price any other 50 pence yet the proof and piedfort versions are common and are not worth anymore than a normal type . Then we have the Benjamin britten 50 pence silver proof 5,000 were allocated for minting and as with all proofs it is done on a supply and demand basis only 1,000 were minted because nobody wanted them. And again Daily Mail (fake news) reported the rare Benjamin Britten bugle blow 50 pence silver proof with only 1000 minted cannot be sourced be on the look out for these coins. Well at it's height of hysteria one of two of these sold in excess of £3000. For something nobody wanted all because of media hype. 20-30 years from now the true value of such coins will become all apparent and will be a shock to whoever owns one. True modern day rarities will last the test of time and I dare say you could even afford them today. but 20-30 years from now you will wish you had bought them when you had the chance. But this will be for coins with 500 or lower mintages. Price will always be a constant upward trend as demand will outway supply. And that is pretty much the case for all coinage pricesReply