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The numismatic market is known for desiring, even demanding top quality coins. Auctions tend to reward coins handsomely, by bringing sky-high sums of money for those in Gem condition. However, this trend of quality-equals-quantity does not always apply to the rare coin market. Rare coins, often regardless of their condition, are the most valuable because of how rare they are. Recently, at auction, a damaged 1792 Half Disme sold for $28,000. In that case, that buyer was certainly more interested in the history of the coin than the actual physical condition. This proves that not everyone buys coins solely based on quality; there are other value measures to be considered.
Other cases of coins with poor quality that performed well at auction include 1895 Proof Morgan Dollars. Some can go for $60,000 and even with considerable wear the coins have sold for $35,000. Those who collect Morgan Dollars are not as interested in quality, their main objective is to assemble a collection with as many as possible. Collectors have increased demand for these coins in recent years and many who pursue series will make compromises with quality in order to get the coin.
Another example of a coin with low grade, but a lot of worth is the 1929 Double Eagle. Most of the Double Eagle’s were melted down in 1930, which makes the existing coins very valuable, despite poor conditions. Yet another example of a lower grade coin is the 1804 Bust Silver Dollar. A few years ago a buyer purchased a circulated silver dollar for $2,000,000. In this case, the buyer wanted the publicity associated with owning one of the greatest coins ever minted, even it wasn’t in the best conditions.
These examples stand to show that top quality coins are not everything. In the numismatic market there are plenty of valuable worn coins.
via Andrew Brunhart’s Coin Collecting http://ift.tt/1pkPtMm
Leadership expert, Simon Sinek, has dazzled over 14 million people with his TED talk “How Great Leaders Inspire Action.” He has continued his educating the public about leadership with his new book, “Leader’s Eat Last: Why Some Teams Pull Together and Others Don’t.”
The realm of coin collecting in the United States needs to reach beyond U.S. coins and capitalize on international markets. In his articles “Gold Coins and Quality Rules in Heritage World Coin Auction,” (January 8, 2014), Greg Reynolds notes that world coins are valued much high than U.S. coins. At the New York International Numismatic Convention, high quality gold coins post-1300, particularly those of the 19th century proved to be the most valuable at auction.
2013 saw many, many books published about the strategies of an effective leader, and no doubt 2014 will bring even more. As the US economy continues to grow, and with it Start Up culture, more and more people are holding the magnifying glass up to people in leadership roles, trying to determine how and why some succeed while others fail.
It’s a funny thing–those of us who collect rare coins and currency, whether for a living or as a hobby, know there’s money to be made, but there aren’t really any accessible metrics anywhere that will tell you how big the US rare coin market really is. The government doesn’t collect any numbers or issue any statistics, there’s nothing in the papers, so we’re pretty much left to hazard a guess.
Forbes recently published an article by Justin Wasserman of Kotter International that personally I found deeply insightful, and definitely useful. In it, he points out that Make-A-Wish Foundation’s recent project, five-year-old leukemia patient Miles Scott’s wish to be Batkid for a day, while on the one hand was a great feel-good human interest news item, is was also an incredible example of brilliant leadership.
Eric P. Newman, a 102-year-old retired lawyer from St. Louis, recently auctioned off his unparalleled 1,800-piece coin collection in New York City. Newman began the collection in the 1930s and, all told, spent about $7,500 on it. The sale, hosted by Heritage Auctions, took two days, and in the end earned Newman a grand total of $23 million.
The best way to enjoy a hobby is to become good at it. The point of a hobby is to relax, and worrying about being good every minute isn’t exactly the best way to relax. But making too many mistakes can take the fun out of any activity. So while a hobby shouldn’t involve 99% self-criticism, it shouldn’t involve 99% complacency either.
3. Have patience. Don’t seek to build your coin collection too quickly. You’ll end up purchasing over-priced coins and regret it later. The more you wait, the clearer you’ll think.
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