Saturday, December 08, 2007

How do you value a truly rare coin anyway?

A few days after my recent post on the difficulties of valuing my unique mint state 1860-O $20 gold double eagle, a similar article appeared on this topic by coin dealer Rusty Goe. His article confronts the problem by examining the difficulties with valuing the five known 1913 Liberty Head Nickels over the past century.

Excerpt:

". . . in December of 1919, Samuel W. Brown, who had retired from the mint six years earlier, placed a series of ads offering to pay $500 for a 1913 V nickel. Of course, at that time he alone (perhaps there were co-conspirators) knew of the existence of these coins. To the rest of the collecting community the only nickels dated 1913 displayed the Indian and the bison. A few months later, Brown upped his offer to $600 per piece, and later that same year (1920) he exhibited one of his 1913 V nickels at a national coin convention.

Though not a single example of these mysterious coins had ever traded hands (at least to anyone’s knowledge), Brown had elevated their value from five cents to six hundred dollars?Their perceived value anyway. . . ."
Link to Rusty's complete article

By the way, anyone interested in buying my $1,000,000 finest known, unique, prooflike, mint state graded 1860-O $20 gold double eagle pedigreed to the SS Republic shipwreck should leave a comment on this post expressing their interest. . . . seriously.