1983-84 Oympic Commemorative Sets 0

[santafed]

Hello All,

               Will try not to ask too many stupid questions, but some will be I am sure, as I am TOTALLY new to this. I am in the process of selling some coins and trying to determine values. I can't figure out why I am seeing some of the silver dollars issued for the 84 Olympics are selling in the thousand of dollars and complete proof sets well below that. From the little I have gleaned so far on grading and so on, I think my set is an MS70 quality, but obviously that is an unprofessional and biased assessment. But there must be some thing remarkable about some of these silver dollars, which I have been unable, at this point, to find out. Could someone give me a quick heads up on this, thanks, Nigel.

 

 

[B.C]

Without seeing your coins nobody can determine if they are proof or mint state sorry 

[MK Ultra]

There were several $5 gold coins too, perhaps the sets selling for thousands are b/c they have gold?  I just picked up the discus commemorative at a local club meeting last night, all original packaging, still in the same condition as when minted, for $15.  A couple others went for the same.  You might be able to get melt value, but unless you have the gold I don't think this is a high demand item.

 

https://www.usmint.gov/about/production-sales-figures/historical-commemorative-coin-sales/1983-1984-us-olympic-coins-los-angeles

[santafed]

On 2/2/2020 at 11:42 AM, Lancek said:

I've been doing this over 5 years.  And have bought a lot of modern commemorative coins.  Including the ones you mentioned.  I can't tell the difference between a 67, 68, 69, or 70.  The differences are that subtle.  I rely on professional graders for that.  And they won't do it unless they have the coin in hand.  So even if you post pics, I doubt anyone can confirm if you have a 70.

Over the years the US mints have refined their process for striking coins.  Buy a 2019 commemorative silver dollar from the mint and a few will be 69s but the vast majority will be 70s.  It wasn't that way in '83 and '84.  Especially at the ancillary mints of San Francisco and Denver.  Most were 66, 67, 68.  Even the day they left the mint.  NGC's price guide shows the '83 S Olympic dollar with a value of $35 at an MS 69.  And $1950 for a MS 70.  Because they happened so rarely.  The chance that you have one is slim.  If you look at NGC's census, they have graded over 1800 of the '83 S.  27 have come back a MS 70.

https://www.ngccoin.com/census/united-states/commemoratives/73/

If you scroll ahead 30 years to the '14 baseball commemorative dollar, you can see 2 out of every 3 grade MS 70.  So far with the 2019 Apollo commem dollar, 94% of them are 70s.  

Thank you for your very informative reply, you answered my query perfectly. I was looking at the NGC auction results and pricing. I couldn't understand why an MS69 was $35.00 or less and a 70 was a couple of thousand, saw one that sold a while ago now for $8800.00 !!!!.Thought that there was a few that had some sort of mint defect that made them so valuable. As it turns out it is the exact reverse, so few were perfect is where the inflated value comes from. And yes I will obviously have to get my set appraised by someone with the knowledge I do not have.So once again, thanks, Nigel.

[santafed]

On 2/1/2020 at 9:05 PM, B.C said:

Without seeing your coins nobody can determine if they are proof or mint state sorry 

Thanks for your reply, but I was looking for the reason that some of the dollar coins were selling for a couple of thousand or more while the majority of listed item where what you would expect, 20-50 bucks. Another reply I received pointed out that it wasn't a defect in the higher priced coins but that they were MS 70 and the vast bulk of the pressings didn't rise to that level. I couldn't understand how the difference of one point in grading, 70 as opposed to 69 could mean that much. But in the context of the fact that there were so few that rose to that level is were the value comes from. So I will have to get my set appraised and see it I got lucky. Again, thank you for your reply, Nigel.

[B.C]

MS and PR two different strikes I'm guessing the expensive coins are MS 70 not pr70 

[Six Mile Rick]

On 2/3/2020 at 8:58 PM, B.C said:

MS and PR two different strikes I'm guessing the expensive coins are MS 70 not pr70 

MS are the best when it comes to submitting 70's and reselling them. However I have a group saved of proofs from 95-96 Olympics that will do very well if I get a few 70's on those. I went through a few hundred mint package sets just to find the best ones. The 70 scale is close to 4 out of 20 for me when graded by NGC with the others being MS69's. It is a lot of searching to find some nice 70's raw still laying around but it makes the hobby fun and you learn to grade and sell while you are purchasing more chances.

  I had a lot of fun with the Modern Commemorative Dollars.

Enjoy Collecting!!

[Six Mile Rick]

Nigel,

 Check the values of 69 in the set and send in a group of high value 69's. The 70's will be your winners for sure. Many MS69 and PF69's are worth $30 but there are some that are $50 and up. Good choices on submissions will make it interesting.

 

Rick