Rare coins

[stinkycheese1]

Why is it often times when I visit coin websites under rare coins there always seems to exist gold coins, some of which are common dates. Are these just considered "rare" because they are gold and expensive?

[MunkyMan95]

Rarity is relative. Compared to modern coins, most any gold coin is 'rare.'

[TomB]

Marketing.

[RUSS BEGA]

Why is it often times when I visit coin websites under rare coins there always seems to exist gold coins, some of which are common dates. Are these just considered "rare" because they are gold and expensive?

 

most of these sites are marketed to non collectors or investors, the company slaps a "rare" label on the coin and the non collectors eat them up

[MunkyMan95]

Marketing.

 

That too.

[MarkFeld]

"Rare" is a relative term and one which is often over-used or misused with respect to coins, as well as other items.

 

As just one example, many collectors might categorize MS63 Saints as "rare coins", while others would consider them to be quite plentiful/common.

[michael]

rare coins is an oxymoron

 

most all coins are not, repeat NOT

 

 

RARE

 

 

 

 

 

 

[stinkycheese1]

This site seems to make saint gaudens seem rare.

 

It says that many were melted down and so they are rare.

[RUSS BEGA]

alot of them were melted down alot of every gold coin was melted down in 1933 FDR made gold illegal to own except for $100 face of numismatic value everything else was supposed to be melted down so there is some truth in that statement

[carson city]

Everything is Relative---Albert Einstein

[bsshog40]

It's just a dang selling pitch. Rare is used to entice people to see what they are talking about. No different than wanting to see a rare event, adds curiosity to the it.

[WoodenJefferson]

I like this quote:

 

"And unlike modern bullion coins, they offer complete financial privacy and exemption from possible government confiscation."

 

You have no privacy when you purchase modern bullion and I guess they are referring to the confiscated 1933 Saint..all in one sentence?

 

Truely all this is "Market Flatulance" designed to skew unreality of a when you get it, a raw reality, crappy looking, scuffed up gold MS-Saint.

 

But it's GOLD!

 

Stay clear of these sites that sell only 2 types of coins, Saints/Morgans, they are there to relieve you of your money with little or nothing for you to show.

[jtryka]

It's certainly true that Saints are rare in the sense that the vast majority of them were melted down, but as for meeting the most common definition of a "rare" coin, many do not. Just look at the population reports, I glanced at NGC's numbers and for the most common 1924, they have graded 234,408 coins! Now look at the 1925-S, only 329 graded, or the true rarity, the 1927-D with only 5 graded! To the untrained and unlearned collector these certainly seem rare, but it pays to look a little deeper. When I was growing up, gold was so expensive and I had so little money, that the thought of owning just one Saint was a dream, so when I finally bought my first one, a 1924 in MS-62 seemed like a sensible choice! Now I only wish I'd spent that early money on a 22-S, 24-S, 25-S, 26-S and an 08-S, since you can always find dozens of nice 1924-Ps at any local coin show!

[WinstonWare]

I agree with Tom on his marketing point but would add that many early “common” coins can be rare in certain grades. From what I have read on the Liberty $20s the early dates are not rare to find but they are rare to find in MS grades…

[MikeKing]

Yes, marketing...rare is any coin in their inventory.

But an understanding of what is really rare and what is really scarce is important in knowing what you are doing in numismatics.

The terms can be quite relative, subjective therefore, or rendered to objectivity, such as in the rarity rating scales (which are extremely helpful within their own limitations).

e.g., a steel penny is scarce in pocket change, but not scarce in a coin shop.

rare could possibly mean something that is unique i.e., there is only one.

When do you say rare is 2, or 3, or 5, or 10? And when does rarity exist no longer, but this thing we are talking about is actually just scarce?

 

But 'rarity', in terms of absolute numbers is more easily defined than 'scarce', because...and this is just the way I see it, so, I'm sure there are others with different opinions (and my own opinion, of course, is subject to change)....when using the term 'scarce', we're entering the realm of the effects of demand, because demand will affect the supply. Therefore, the more people that want something of a very limited number e.g., the 1815 Bust Half, it becomes scarce. But is it rare? No! The Brasher Dubloon might be considered rare, but not the 1815 Bust Half.

 

And also, we have to realize this has nothing to do with value.

 

You can buy a coin that is an R5 far less than one which is an R3 according to the rarity scales, because the demand for it may simply not exist. Then the question becomes 'what is value?'. Is the value how much $$$ it will cost? or is it value in terms of what???

 

subjective opinion?

[construct]

This site seems to make saint gaudens seem rare.

 

It says that many were melted down and so they are rare.

 

This advertisement does not use the term "rare," but the text accomplished its goal by making you think "rare." Taking the smaller estimates of survivers from Bowers' type coins book, there are about 3.5 million uncirculated Saints in existence. Do you think that's "rare"? How many people have one? But then, how many people want one? And how many of those want to tie up more than $800 in one? If a buyer is looking to buy one, how hard will he have to look? Not far at all. He can find one in a matter of minutes if he has any clue of where to look.

 

MS-63 Saints are not rare. They aren't even scarce. The coin market is awash in MS-63 Saints.

 

That being said, I don't own one. I have two lower MS Saints.

[jtryka]

This site seems to make saint gaudens seem rare.

 

It says that many were melted down and so they are rare.

 

This advertisement does not use the term "rare," but the text accomplished its goal by making you think "rare." Taking the smaller estimates of survivers from Bowers' type coins book, there are about 3.5 million uncirculated Saints in existence. Do you think that's "rare"? How many people have one? But then, how many people want one? And how many of those want to tie up more than $800 in one? If a buyer is looking to buy one, how hard will he have to look? Not far at all. He can find one in a matter of minutes if he has any clue of where to look.

 

MS-63 Saints are not rare. They aren't even scarce. The coin market is awash in MS-63 Saints.

 

That being said, I don't own one. I have two lower MS Saints.

 

I agree, but you must add some qualifier to this statement, since yes, MS-63 Saints from 1924 or 1928 or 1927 minted in Philadelphia are very common. But an MS-63 1930-S is anything but common, same with every other date in the 1930s. You could make the same argument with MS-65 grades, as they are still common for the common date coins, but try finding a 1925-S in MS-65!

[construct]

All that is true, jtryka. I am commenting only on the product offered in this ad--MS-63 Saints where you don't pick the date. Any MS-63 Saint will fill the bill, even a 1924.

[jtryka]

And if these are raw, they might not even be true MS-63s!