How Many Duplicates of Duplicates of ... Do You Keep?

[astrostu]

As do every time I get a new price guide, I go through and re-value my collection. I've been doing a little cleaning and re-organizing of my lists, and came upon some inconsistencies that've led me to opt to re-grade and re-sort at least my cents.

 

AND weed out a lot. Based on my current spreadsheet, I have - in some cases - dozens of duplicates of a lot of common-date examples. Like I have 24 VG, 35 F, 24 VF, 11 EF, and 6 AU 1946 wheat cents. I've just saved them for years. But I've decided that there's really no reason to have 100 of them (I think at one time I actually had more).

 

I've also been keeping 80 (2 rolls) of each mint mark of each state in the 50 state quarters program thing. And I'm "starting" to think that that's getting a little silly, especially considering that's over $2200 in quarters at the end of the series that I could be using for more, shall we say, interesting coins.

 

That led me to wonder: How many duplicates of duplicates of duplicates of ... do you have? Why? Does it depend on the series?

[physics-fan3.14]

I used to have dozens of duplicates of wheat cents, like you, but I got rid of almost all of them. I kept just three of each issue, for no particular reason I suppose. I filled Whitman blue albums with the remaining ones and gave one to my sister, and sold the rest.

 

The only real duplicate of value I have now is a 1958D NGC MS-64FBL Franklin which I upgraded to 65FBL. I'll probably keep it, though, because it has attractive and eye appealing toning.

 

[Jeffrey Cardona]

I usually have duplicates of the proof and ms SAE. They are cheap enough to get a handful at a time. I usually give them away later as gifts for new borns, birthdays, and graduations in the family.

[jgrinz]

I used to have ROLLS and ROLLS of Coins ASE's etc NOW

 

ZERO

 

[World Colonial]

The answer to your question will depend upon your collecting strategy. Some people like to collect a smorgosboard of material - whatever hits their fancy at the time, some are very focused and others are somewhere in between.

 

I am one of the very focused collectors. i have two primary series (South Africa Union and ZAR) and Spanish colonial (pillar coinage and "lion and castle" quarter real) plus a few others for which I am trying to obtain mostly a type set. In the last three years, I have bought exacly two items that are not part of my core collection and none in the last 18 months.

 

I will buy duplicates but I do not end up keeping most of them. I buy them in high grade only for future resale or to upgrade. The reason for this is that every dollar I have tied up in a duplicate is one less dollar that is available to buy another coin in my set that I do not have.

 

There are a few duplicates that I also keep for investment purposes because the coins are scarce of rare. For example, I recently bought a 1790 Austrian Netherlands Insurrection 2 Liard in NGC MS-64BN for $175. I also have the same coin in NGC MS-63RB. Other examples include duplicates of the 1947 and 1948 South Africa 2 shillings which I have in NGC or PCGS MS-62 to MS-64. These are scarce in any grade and rare in high grade, having a mintage of about 2600 and 6700. I am perfectly happy to hold on to these type of coins for years or even to have them go to my estate.

 

It might not matter for low value coins like the ones you cited as examples, but for those who have numerous examples of slightly more valuable coins, they will need this money to complete their sets or collecting goals.

[BULLY]

As someone else wrote, I tend to buy multiples of Silver American Eagles, and save them to be given as gifts later, either for newborn babies, graduations, or what-have-you. I do this ESPECIALLY when I can acquire them almost cheaper than I could if I bought them raw and had them graded myself. Like for 2008 earlier this year when silver was at nearly $20 an ounce, and rolls of 20 were EXPENSIVE accordingly, and grading them as Early Release coins would cost $13.50 each with NGC. So, assuming even a discount like $18 for the silver, then $13.50 for grading, that was $31.50 for the coin, PLUS shipping to and from NGC.

 

I was able to acquire them in a Dutch auction on eBay for about $26 - INCLUDING shipping, for ALL MS69, so I didn't have to worry that I might get no-graded(body-bagged coins) or lower grades, and it was WAY cheaper than doing it myself, with an assured MS69. I bought over 60 of them. THAT is a time when I think it's worth keeping multiples and multiples of the same thing!

 

Also with the State Quarter example you gave. Especially when you can buy rolls at face value, I think it's great to have BU rolls -- especially now, as the program comes to an end of a TEN YEAR RUN. Why? Because people who entered the collecting of the quarters later, even a year into the program may be going back to try to back-fill their collections. So, the fact that you have held onto these coins all these years may come in handy.

 

The notion that you can keep an entire set (P&D) for yourself is nice, and that you can SELL and entire set of rolls could mean SERIOUS profit potential. As I suspected for years, ENTIRE sets of proof coins, either individually graded, in multi holders, or even raw proof or mint sets are starting to be sold, for significant amounts of money. I haven't seen raw rolls of coins, though I also haven't looked. However, why wouldn't they be of interest to collectors too, especially of they are SEALED rolls, the kind that are sealed by a machine so a buyer knows that they aren't picked through.

 

Why do I say that? Well, there is that famous corn stalk error coin. Wouldn't a collector love to get his or her hands on un-searched rolls original rolls of those coins, where those errors might be found?

 

Maybe a collector would be interested in buying them buy the year, in groups of 5 states, or as an entire 50 state deal. I can see that going either way. I'd hesitate before I broke up the set, because once it's done, it can't be undone. It might end up being wise to do it, but that remains to be seen, and I wouldn't presume to know, nor would I offer advice. However, I think the coins have SOME profit potential.

 

I've seen rolls of the state quarters on eBay selling for AT LEAST twice their face value and as much as 3 or 4 times their face value. They sure sell them on the home shopping channels for hefty premiums like that, and not even OLDER issues, so imagine the back issues that you've got?

 

I actually have FOUR rolls of each, but only Philly. Only one roll each of Denver. My mother and grandmother were originally interested in them, but lost interest. So, I kept getting them from my mother in law, and tucked them away. So, MANY Philly minted rolls anyway, which is still nice as a set. It gets a collector half way there. I'm keeping the Denver rolls to myself of course.

 

It's just nice when you can buy a potential collectible at face value.

 

As far as the Lincoln Cents that you mention, you had an awful lot of one particular year. Personally, I'd want to save the top one or two at least for my own collection, and maybe to be able to hand down as an heirloom.

 

With the coin changes coming in 2009, the four different Lincoln varieties, celebrating different parts of his life, there are those who believe that it may invigorate coin collectors and renew interest in the Lincoln Cent, much as the State Quarters and the Presidential Dollar programs have done. Throw in the fact that the cent may undergo a change in composition from Zinc with a copper coating to a steel cent as a cost saving measure due to an Act of Congress, well, they may REALLY draw some attention. It's a bet of course, no one really knows how a market will turn, and I certainly have no crystal ball.

 

However, if I WAS a betting man, I might wait until next year to see how the market developed as the 4 new Lincoln cents come out celebrating the 100th anniversary of the cent. Even this year, some people have said that they see prices rising anticipating that collectors are going to increase demand next year, so people are "stocking up" now. Whether that is real or anecdotal I cannot say. It is certainly worth of consideration though.

 

I've also been keeping 80 (2 rolls) of each mint mark of each state in the 50 state quarters program thing. And I'm "starting" to think that that's getting a little silly, especially considering that's over $2200 in quarters at the end of the series that I could be using for more, shall we say, interesting coins.

 

That led me to wonder: How many duplicates of duplicates of duplicates of ... do you have? Why? Does it depend on the series?

[MTHead-migration]

I have twenty-one 1939P Lincoln Cents plus lower numbers of other dates.

In addition to 1965 Washington Quarters I keep all Wheat Cents, Canadian and foreign plus any silver (rare) I get in change.

 

[MikeKing]

I wish I had duplicates, but couldn't afford to complete my collection if I did, so my answer is no. Darn!

[cpm9ball]

Why would anyone in their right mind keep duplicates?

 

Chris

[michael]

That led me to wonder: How many duplicates of duplicates of duplicates of ... do you have? Why? Does it depend on the series?

 

none.............................

 

i usually do not like doubles of any coin even if it is a type coin

[rbrown4]

My Gosh Chris, what is the reasoning behing those?

 

After going through my father's collection there are numerous and sometimes unbelievable duplicates of dubplicates that I only wished I had asked him why. For some reason there are many Mercury and Roosevelt Dime duplicates in some cases up to 30 or 40 of a year/mint mark. The same with Lincoln Cents. Example is the 64 D Roosevelt dime, he had over 40 of them all in mint state, 45 D mercury he had 15 of them. Some day I will clean this up, but I wish I had asked him why.

 

Plus he purchased 3 mint and proof sets from both the US and Canada since the 50's through the 80's one each for himself, my mom and me.

 

TOO MANY DUPLICATES, no wonder I keep going in circles

 

Rey

[cpm9ball]

Well, the Mercs and Roosies I can understand because they're silver, but if you had found that he had 50 rolls of 1999 Lincolns, then I would begin to wonder.

 

I was just having a little fun with the 1888-O Morgans. I'll be putting some of them up for sale later. But, I do have 22 - 1882-CC Morgans and in some other cases, I have 8-10 examples of the same date/mm of different grades and/or states of toning.

 

Chris

 

PS. I've been at work most of the days, sometimes pulling extra long shifts, so I won't be able to send that Northwestern medal to you until Thursday. I'm supposed to be off. I hope so!

[Houston Investor]

Its fun to accumulate them sometimes. I buy just about any certified commem in MS 64 or higher in the $100 - 150 range or less. Some, I even have in roll quantities. I also have several Texas sets put away. Just a fun little hobby in a hobby. Some of the slabbed coins I like to accumulate: 1920 Pilgrim MS 64, 1936 Long Island MS 64*, 1938 Texas MS 64 or higher, CC $ MS 64 or higher*, 1950 50c PF 64 or higher. nice Oregon 50c MS 64 and higher*, and nice $5 and $10 Libs in MS 62.

 

*Already have these in roll quantity.

 

See you at Coinfest. I like Walkers, Dollars, Commems, and Gold.