June, 2003  Page 1 Page 2 Page 3 Page 4 Newsletter IndexHome

reasons for that new attention are basic: Pattern coins are among the most aesthetically beautiful of coins, have the most interesting histories, and as a rule, they are far more rare and far less expensive than all other coins of similar rarity and condition.

      I have done many comparisons between pattern coins and regular mintage coins. The revelation that   pattern coins are generally far more rare and far less expensive that regular mintage coins of similar rarity and condition spurred my involvement with patterns.  And

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head this summer, the main

 

Following are seven common reasons people sell their coins:

 

¨         You have an accumulation of “junk” coins you wish to trade better, higher potential coins.

¨         Your coin accumulation is  heavy, bulky, and better consolidated to cash, high end coins.   

¨         You need cash.

¨         You are at an age where simplifying or moving your assets into “liquid” is appropriate.

¨         You overpaid for coins that now are static, and whose best use might be as a tax loss. 

¨         You have inherited a coin collection which you need to sell or split among the heirs.

¨         You have lost interest in coins.

Thinking of Selling Your Coins?

DesiText Box: FAQ: How much does it cost the U.S. Mint to produce coins? ANSWER: According to the report of the Director of the Mint, unit costs for production in the fiscal year 2002 are as follows: $.01 = 0.89 cent, $.05 = 3.31 cents, $.10 = 2.78 cents, $.25 = 6.37 cents, $.50 = 11.1 cents, and the Sacagawea dollar costs 16.67 cents to mint. In general, costs of coin production increased 21.3 % from 2001. gn Changes  (cont’)

Pattern Market Explosive (cont’)

Customized Numismatic Portfolios

 

changes are coming. When a design ends production, its supply is automatically limited.  A limited supply fosters demand. Increased  demand on a fixed supply increases prices.

           United States Mint products are the introduction to the hobby for millions. Some of those millions go on to collect more valuable coins, which increases demand, which in the long term, increases coins values.  In the con business, we call it the “circle of life.”

rare con market.  Most of what is happening in rare coins is fueled by collectors, and that state of affairs is likely to continue for at least the near future. Fortunately, those factors are sufficient to create a blockbuster market.

                    

 

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new quarter designs. As I think back to when I began collecting in the late fifties and early sixties, what spurred my interest were coin design changes.  Remember, it was in 1965 that dimes, quarters and half dollars we made with metals other than silver.

      The success of the State Quarter program has propelled discussions of other coin design changes. There are thoughts of a new penny, nickel, and half dollar.  Our twenty dollar bill will soon have more colors than just green.

      Perhaps most significantly, the United States Mint has discovered that it can make a fortune selling mint and proof copies of these coins to the public, and so has started producing commercials not only promoting their product, but promoting coin collecting as a hobby.

           Mint officials have also discovered design changes increase sales. You can be sure more design

 

Rare Coin Report

is written and published by

Lawrence D. Goldberg,

owner of

Customized Numismatic Portfolios

(c) March, 2003  All Rights Reserved

Please feel free to call toll free with your comments and questions at:

800 334-3325

Fax: 818 557-0902

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