3CN appear to be making a move

[Prethen]

I really didn't think I'd see this happen as an overnight thing, but in the past couple of weeks I'm watching the rarer date 3CN start making VERY aggressive moves on eBay. The prices I'm seeing are even more aggressive than some dealer's prices I've recently seen and I thought the dealers were already being a bit optimistic. I'm actually quite surprised. The common dates aren't moving, but if more date sets are being put together this will likely change as well.

 

Who knows, this may be just a blip. If you're interested in collecting all the dates you should strongly search out the 1879-1889 dates sooner than later; especially 1880-1887 (minus 1881).

 

I watched one coin (1880 barely XF) sell for over $500 which last month would have a hard time selling for $250-$300. I saw another (1882 VF-) go for $300 which I wouldn't have though to get $150-$175 or so.

 

And, oh yeah....I've seen virtually NO 1875 3CN for sale...any where. Now, that said, yes I know where a couple that are for sale and have been for a little while, but no fresh inventory.

 

I don't understand why this jump all of a sudden. Any ideas? Will these prices realized retreat just as quickly? Just an anomaly?

[michael]

ode to a finally coming of age three cent nickel

 

wonderful three center nick

 

i have been singing your praises for years and years and finally someone took a listen to you

 

how high and desirability wise will you go??

 

will you remember me the lonely collector who has always sung your praises...........................

 

will you start to finally blossom and come of age to these new collectors as of late moving backwards in their study of numismatics?

 

oh sweet three center why oh why are you such a late bloomer..................

[UScoinrunner88-migration]

Thats a nice surprise since I'm trying to sell an almost complete set.

 

But really this is just the next frontier that has yet to get exposed to price inflation in this market.

 

 

Edited for spelling.

[rbrown4]

I know where there are an 1865 EF 40, 1866 F 12 and an 1868 VF 20 that can be had together as a lot. Worth considering or not do you think? Can probably get them for a low cost given the source.

 

Rey

[Prethen]

Thanks for the ode, Michael!

 

Rey, 3CN are pretty bountiful in all grades from 1865-1869. Things start getting a bit more interesting when you hit the '70's and downright daunting when you hit the '80's. It doesn't surprise me that there's some decent eye appealing stuff from the 60's in dealers' inventories. That stuff has been out there for awhile waiting for the series to wake up. It has to wake up since the last one was minted almost 120 years ago!

[chinook]

Thats becasue you bought them all and cornered the market.

[Prethen]

Thats becasue you bought them all and cornered the market.

If only that was true!

[jtryka]

Glad I filled a few holes in my Dansco last spring then! My only real nice one of course is the 1880 proof in my type set. I sure think they are pretty coins and worthy of some attention!

[ziggy29]

Right now the only 3CNs that appear to be "hot" are the business strikes for the lower-mintage dates (everything from 1879 on, except 1881).

 

The common stuff is still not doing much. And proofs are still dead. But those scarcer business strikes of the 1880s are suddenly spiking rather dramatically. I think that's because I'm looking to put together a set of them in AU. Where I start to tread, higher prices immediately follow.

[rrantique]

I have that same problem Ziggy it's that proverbal Black Cloud.

[ziggy29]

Yowzer. Teaparty just threw up a virtually complete set with most of the better dates as business strikes. Can you say $1495 for an 1884 in NGC 55? Or $995 for an 1883 in NGC 58?

 

I'm afraid this train left the station without me.

[construct]

Gee whiz! I had been slowly putting together a date run of business strikes in circulated grades. I have all of them through 79 plus 81 and 88. I had no idea they would take off like that!

[Prethen]

James, I completely disagree with your statement that 3CN are worth 15% in back of bid. As far as the "key" years, 1879-1889 (except 1881), that's completely incorrect. In fact, the sheets seem to be way behind as far as the true market values of those coins. I agree that the common ones...are...well...common. That said, based on the sheet, they're still cheap. If you inferring to a lot of the common garbage that's out there, that's damaged or cleaned or otherwise problematic and/or not original, yes...they're not even worth Bid on the sheet.

 

We keep hearing anecdotes that dealers are crying the blues over the lack of original, problem-free type material. This goes for 3CN as well. I hate to say it, but the most common 3CN available, 1865, can be kind of fun to hunt down at a coin show in problem-free, original condition. How can you make a blanket statement saying that all 3CN are worth 15% behind Bid?

 

Sorry to rant at ya, James. I always enjoy your posts.

[Prethen]

I was amazed by that set that JJ Teaparty acquired. Somebody unloaded quite a nice set with them.

 

Yes, it appears that the scarcer dates are rising fast. However, I think this bodes well for the entire series, even the common ones. Finding the common dates in unmessed with shape can be a daunting task.

 

I feel strongly enough about this that I've put my money where my mouth is and purchased a group of 3CN's (as noted in another thread). Some will be for resale. I apologize to any who may feel that this post seems like an alterior motive. Anyone who knows me well, knows that's not the case. I've been very passionate about this unloved series for a very long time. I simply couldn't pass on the opportunity to buy this group for what I thought was a fair price. Hey, if they don't sell...that's okay.

 

I think the series (like Michael says) has a strong fundamental reason to rise. Lots of lower mintages; very low values respectively to other series; never the center of attention in over 120 years; and there are more collectors now that just might be interested in moving into 19th Century Type material.

[ziggy29]

I was amazed by that set that JJ Teaparty acquired. Somebody unloaded quite a nice set with them.

I was wondering where they got the $1495 from on the '84.

 

I think the best pricing data they had was from a February Goldberg sale where an '84 in NGC AU-50 sold for $1438 with the juice. Between that and a cleaned ANACS XF already at $920 with juice on a Heritage auction...

 

Guess I'll have to settle for a slightly impaired Proof. Not just because of the price spike, but because I'd be afraid to crack a coin labeled a business strike out of its holder for fear that if I reholdered it to sell, it would come back a Proof.

 

[michael]

James, I completely disagree with your statement that 3CN are worth 15% in back of bid. As far as the "key" years, 1879-1889 (except 1881), that's completely incorrect. In fact, the sheets seem to be way behind as far as the true market values of those coins. I agree that the common ones...are...well...common. That said, based on the sheet, they're still cheap. If you inferring to a lot of the common garbage that's out there, that's damaged or cleaned or otherwise problematic and/or not original, yes...they're not even worth Bid on the sheet.

 

We keep hearing anecdotes that dealers are crying the blues over the lack of original, problem-free type material. This goes for 3CN as well. I hate to say it, but the most common 3CN available, 1865, can be kind of fun to hunt down at a coin show in problem-free, original condition. How can you make a blanket statement saying that all 3CN are worth 15% behind Bid?

 

 

 

(thumbs u

 

 

[michael]

i like to call em mods on the move

 

and they will soon be pulled over for speeding yet not get tickets just accolades and rewards

 

 

[michael]

i like to call em mods on the move

 

 

 

 

up ...way up in demand that is