It’s Safer Bet to Rely On Aesthetics
Question: Within the next few years, do you see substantial price increases for Mercury dimes, Buffalo nickels and Walking Liberty half dollars (all common dates) graded MS-64 or MS-65 by PCGS or NGC? --R.K.
Answer: You’re treading in a very speculative area. And I don’t like to speculate. Coins are subject to all sorts of market pressures, including, unfortunately, a certain amount of manipulation. If you compare points to the stock market, then you should follow the old bromide: buy low, sell high.
The secret, of course, is knowing when a particular issue has reached its low and, conversely, achieved its high. That’s a tricky way to approach coin collecting. I’d recommend instead that you concentrate on issues that appeal to your aesthetic instincts and buy the best quality coins possible within your price range.
You’re on the right track when you mention certified coins that are graded MS-64 and MS-65. These are high-quality pieces that have been graded by two of the leading grading services. They trade virtually sight unseen on numismatic ticker tapes and offer collectors a sense of comfort because a neutral party has determined its rating. Remember, however, that not all Mint State 64 or 65 coins are alike and that prices can differ from coin to coin within the same grade.
As for Mercury dimes (issued from 1916 to 1945), Buffalo nickels (1913-1938) and Walking Liberty half dollars (1916-1947), all are interesting in their own right and all have their legions of followers. An influx of collectors for a particular series will tend to raise prices. A rush to sell will depress prices. The law of supply and demand really calls the shots in the free coin market, except, as I’ve indicated, when there is artificial manipulation.
The fact is that quality coins do tend to appreciate in value over the years. Modern issues may take longer, especially those with high mintages. But patience is a virtue, and if you have a plan in mind and collect accordingly, you may find in the end that you won’t want to sell your collection no matter what the profit may be.
Q: A lot of GIs spent time in the Philippines just after World War II. Some like me brought back (and I have just located) Philippine coins. What is their metal content and the approximate value? I have a 1 peso pre-World War II; and 5-, 10-, 20- and 50-centavos, post-World War II. --G.B.
A: Circulated Philippine coins under U.S. occupation have little or no collector value. Yours are probably copper-nickel pieces. Some early Philippine coins are fairly valuable. Your coins would have to be seen to be properly evaluated.
Coin News
Canada is marking the 10th anniversary of its gold Maple Leaf with special proof editions of the gold, platinum and silver Maple Leaf. The coins are available in limited mintages and in various combinations. They are packaged in a hand-finished maple wood box (pictured). The 1-ounce proof gold (mintage 15,000) is $675; the 1-ounce silver (mintage 30,000) is $35; a gold proof set--1 ounce, half ounce, quarter ounce and 1/10 ounce (mintage 7,000)--is $1,190; platinum four-piece set (mintage 2,000) is $1,700; 1 ounce combination proof set--gold, platinum and silver (mintage 5,000)--is $1,530; combination $5 set--1-ounce silver, 1/10-ounce platinum and 1/10-ounce gold (mintage 10,000)--is $165. Order from the Royal Canadian Mint, (800) 267-1871.