2 million $ dime

[BruceS]

Check this out

 

http://www.pcgs.com/News/Legen-Numismatics-Purchases-1894-S-Daggett-Specimen-Dime

[Treashunt]

Ah, so that's where I left it!

[RWB]

Nice uncirculated coin and certainly a well-known rarity. A “proof” is not possible since the San Francisco Mint had no medal press. But, for a coin this rare such descriptions are meaningless.

 

Comparing coins to art is a non sequitur, though.

 

[physics-fan3.14]

Roger, how many of the "facts" in that write-up are true?

[CaptHenway]

I have never seen an 1894-S dime that I considered to be a true Proof. They are at best new die Proof-Likes.

 

However, grading rules and standards do not apply to rare coins, expecially 1804 silver dollars.

[mumu]

I'll take it. But please post in the right forums, I almost missed the listing. PayPal ok?

[BruceS]

I'll take PP gift (thumbs u you can eat the $60,000 fee

[RWB]

Per modern research and not the invented stories:

 

There are many theories as to why 24 proof Dimes were minted in 1894 at San Francisco. [True, although few would meet the basic standards of "theory"]

 

Only 10 are confirmed to exist today and this coin is likely the third finest known. [Estimate & Opinion]

 

The most widely accepted theory is that the Mint Superintendent, John Daggett, had high ranking visitors he wanted to impress with special coins. [bologna]

 

No one knows for sure why he picked the Dime, except that he needed to balance a $2.40 deficit in the Mint ledger, so striking 24 dimes achieved dual purposes. [Conflicts with 1895 newspaper account; no explanation for why this had to be balanced since the Coiner could carry forward bullion and/or coins.]

 

After minting and distribution to his friends and guests, he gave 3 or 4 coins to his daughter, Hallie Daggett. [More Bologna]

 

This story is one of the greatest [chunks of bologna] in numismatic lore, and continues when Daggett's daughter Hallie eventually sold a couple gem examples, including this very coin, to Earl Parker, a coin dealer in California, around 1950. [bologna]

 

At the time, she told Parker that she originally spent one of her prized dimes to buy an ice cream cone. [bologna a la mode]

 

That coin is known today in Good-4 as the "Ice Cream Specimen" but has not traded hands publicly since 1981. [Known by that name only to marketers]

 

Several points were omitted, but this was just a promotional announcement and not intended to be an extensive presentation of the coin or its background. For what it is, it's no better nor worse than any other similar announcement.

 

[CaptHenway]

Mmmmmmmmmmm......bologna a la mode!!!!!!!

 

 

[johnny9434]

I'll take PP gift (thumbs u you can eat the $60,000 fee

lmao @ paypuke, $60,000. i hear they send ya an email and tell you to have a nice day as well. fwiw

[physics-fan3.14]

Mmmmmmmmmmm......bologna a la mode!!!!!!!

 

 

Never tried that one... bacon a la mode, on the other hand, is quite delicious. A maple cinnamon ice cream is preferred over vanilla.

[World Colonial]

Nice uncirculated coin and certainly a well-known rarity. A “proof” is not possible since the San Francisco Mint had no medal press. But, for a coin this rare such descriptions are meaningless.

 

Comparing coins to art is a non sequitur, though.

 

I consider it a significant coin because it was one of the first prominent coins I heard of when I first started collecting at the age of 10.

 

I did not see any direct compararison to art but it appeared to be implied by references to other colelctibles. And not only do I think that many of the most prominent coins are not underpriced, I think they are overpriced. To give an example, it is likely that many of the Russian Imperial Faberge Easter Eggs would sell for less than the most expensive coins ($5MM+) if both were offered for sale concurrently. I see no justification for that at all.

[MarkFeld]

Nice uncirculated coin and certainly a well-known rarity. A “proof” is not possible since the San Francisco Mint had no medal press. But, for a coin this rare such descriptions are meaningless.

 

Comparing coins to art is a non sequitur, though.

 

I consider it a significant coin because it was one of the first prominent coins I heard of when I first started collecting at the age of 10.

 

I did not see any direct compararison to art but it appeared to be implied by references to other colelctibles. And not only do I think that many of the most prominent coins are not underpriced, I think they are overpriced. To give an example, it is likely that many of the Russian Imperial Faberge Easter Eggs would sell for less than the most expensive coins ($5MM+) if both were offered for sale concurrently. I see no justification for that at all.

 

The "justification" is desire and demand. I am awed by the Faberge eggs and personally, value them more highly than I would, just about any coin. At the same time, however, I can certainly understand/"justify" someone else having a different opinion.

[coinman_23885]

The "justification" is desire and demand. I am awed by the Faberge eggs and personally, value them more highly than I would, just about any coin. At the same time, however, I can certainly understand/"justify" someone else having a different opinion.

 

So you are a collector after all (just not of coins per se).

[jpcienkus]

The "justification" is desire and demand. I am awed by the Faberge eggs and personally, value them more highly than I would, just about any coin. At the same time, however, I can certainly understand/"justify" someone else having a different opinion.

 

When will we see an e-mail with Faberge eggs for sale that you have personally picked out?

[coinman_23885]

The "justification" is desire and demand. I am awed by the Faberge eggs and personally, value them more highly than I would, just about any coin. At the same time, however, I can certainly understand/"justify" someone else having a different opinion.

 

When will we see an e-mail with Faberge eggs for sale that you have personally picked out?

 

There are less than 50 original Faberge eggs (all types known/designs known) thought to still exist (or at least that is my understanding - I'm certainly no expert), so I doubt anyone would sell these by mailing list. Each original would be worthy of a major auction.

[BruceS]

Wow did thread take a left turn. . We went from dimes to eggs in only 15 post. Gotta love it.

[Tradedollarnut]

The dime is gorgeous. Third finest. I viewed it in Las Vegas and loved it

[coinman_23885]

To be honest, I have always been fascinated with branch mint proofs, and if I had the funds to purchase a coin in the 7 digit range, this would be one of the issues that I would probably seek out first. I have always been fascinated with the issue even as a little kid (and especially the claims of one actually circulating in general commerce although I understand RWB is suggesting that there are problems with the historical accuracy of this account). I think the price paid was fair - the coin looks worth every bit of it (at least to me).

[jpcienkus]

The "justification" is desire and demand. I am awed by the Faberge eggs and personally, value them more highly than I would, just about any coin. At the same time, however, I can certainly understand/"justify" someone else having a different opinion.

 

When will we see an e-mail with Faberge eggs for sale that you have personally picked out?

 

There are less than 50 original Faberge eggs (all types known/designs known) thought to still exist (or at least that is my understanding - I'm certainly no expert), so I doubt anyone would sell these by mailing list. Each original would be worthy of a major auction.

 

My post was meant to be purely sarcastic. I don't know anything about Faberge eggs, but at least now, I know a little bit more. Thanks.

[MarkFeld]

To be honest, I have always been fascinated with branch mint proofs, and if I had the funds to purchase a coin in the 7 digit range, this would be one of the issues that I would probably seek out first. I have always been fascinated with the issue even as a little kid (and especially the claims of one actually circulating in general commerce although I understand RWB is suggesting that there are problems with the historical accuracy of this account). I think the price paid was fair - the coin looks worth every bit of it (at least to me).

 

I, too, am fascinated by branch mint Proofs. But, as cool as they are, I don't think the 1894-S dimes are branch mint Proofs. I also don't think it matters.

[World Colonial]

Since it is a matter of personal preference and completely subjective, people can justify (or in my opinion, rationalize) whatever they want.

 

As far as I am concerned, even as an exclusive coin collector, the idea that coins should be in the same league as Faberge Eggs or other fields of art which are viewed overwhelmingly as more desirable by most is a non-starter. It is primarily a rationalization by a selective few to convince "investors" who participate in these other fields to pay exorbitant amounts for what are actually relatively obscure items.

 

As coins go, the 1894 dime is more significant than most. And compared to other US coins in its price range, I consider it "fairly" valued.

 

At the same time, I can think of many others that are both more desirable and better "investments" that currently cost much less. For $2MM, someone could put together a collection consisting of 10 to 100 world coins that would "blow this coin out of the water" from both aspects.

[RWB]

"I don't think the 1894-S dimes are branch mint Proofs. I also don't think it matters."

 

How true. They could be called "Widgets" and the coins would still be as they are.

 

[CaptHenway]

To be honest, I have always been fascinated with branch mint proofs, and if I had the funds to purchase a coin in the 7 digit range, this would be one of the issues that I would probably seek out first. I have always been fascinated with the issue even as a little kid (and especially the claims of one actually circulating in general commerce although I understand RWB is suggesting that there are problems with the historical accuracy of this account). I think the price paid was fair - the coin looks worth every bit of it (at least to me).

 

I, too, am fascinated by branch mint Proofs. But, as cool as they are, I don't think the 1894-S dimes are branch mint Proofs. I also don't think it matters.

 

I agree that they are not Proofs, and that it does not matter, just as it does not matter that MOST (I exclude the Class II because of the "planchet") 1804 Dollars are Proofs.