NGC Discovers Fourth Known Example of 1795 BB-16, B-20 Dollar 0

[Matt G]

The rarity was found through NGC's VarietyPlus attribution service. Read more

 

[GoldFinger1969]

Nice..how much is this coin worth approximately ?

[DWLange]

The value will most likely be determined through an auction sale, as there are no value guides for early dollars by varieties. Another of the four known examples is being sold at auction this week, so that will provide some recent data.

[physics-fan3.14]

On 1/20/2021 at 11:59 AM, GoldFinger1969 said:

Nice..how much is this coin worth approximately ?

Obviously, this is super rare. CoinFacts shows a problem free PCGS VF-35 sold in 2011 for $94k. 

The one DWLange mentioned is currently up on Heritage, VF details with a hole: https://coins.ha.com/itm/early-dollars/1795-1-flowing-hair-two-leaves-b-20-bb-16-r8-holed-damaged-ncs-vf-details/a/1326-4161.s

Based on the sale of that one, I'd expect the newest example to be worth a bit more than the holed example - holes are murder on value! Even though this is F details vs VF, I'd rank the newest example higher. The advantage of the holed example is the Reiver pedigree, which is fantastic. When this coin sold in 2006, it sold for $9200

Edited January 21, 2021 by physics-fan3.14

[RWB]

Early dollar collecting by die variety was once popular. But hefty price increases in the 1950s pushed collectors out of it, except for those with substantial funds. Now, there are very few variety collectors which means prices trend lower but are highly unstable.

[GoldFinger1969]

3 hours ago, RWB said:

Early dollar collecting by die variety was once popular. But hefty price increases in the 1950s pushed collectors out of it, except for those with substantial funds. Now, there are very few variety collectors which means prices trend lower but are highly unstable.

Did a bubble develop and then pop ?  If not, you'd expect even big price increases to support adequate demand for the available supply.

Wouldn't the new collectors, if unable to afford the "hefty price increases", just buy lower-quality coins ?

That's interesting that today there are few variety collectors based mostly on past prices pricing them out of the market.

[DWLange]

The collecting of early United States coins by die marriages has been in decline for a number of years, due both to the high cost of even a single coin and to a greater emphasis on grade. So many varieties are not available in anything but worn and/or damaged condition that newer collectors often pass on pursuing the rare coins in favor of a single type coin in nice condition.

[RWB]

12 hours ago, GoldFinger1969 said:

Did a bubble develop and then pop ?  If not, you'd expect even big price increases to support adequate demand for the available supply.

Wouldn't the new collectors, if unable to afford the "hefty price increases", just buy lower-quality coins ?

That's interesting that today there are few variety collectors based mostly on past prices pricing them out of the market.

Note Mr. Lange's comments....also, in the 19th and first half of the 20th centuries, early dollars (among other coins) were available for a little over bullion content. Only the very nicest specimens brought a significant premium. Except for 1794 dollars and halves of 1796-97, the coins were "cheap" and available. In reviewing US Mint archives, I note many letters from people asking the value of early silver and gold coins - sometimes they include lists of coins that would make a modern collector salivate! Early silver shows up in small deposits well, into the 1890s. Also, pre-1853 silver brought a bullion premium, and many were sold to the Mint as bullion, not coins.

[physics-fan3.14]

4 hours ago, DWLange said:

The collecting of early United States coins by die marriages has been in decline for a number of years, due both to the high cost of even a single coin and to a greater emphasis on grade. So many varieties are not available in anything but worn and/or damaged condition that newer collectors often pass on pursuing the rare coins in favor of a single type coin in nice condition.

Yes, I'll agree that this seems to be the case. There are a few very passionate die marriage collectors (the Bust Half Nut Club), but my understanding is that membership is lower than it used to be. 

And I'll also agree - pursuit of the grade, avoiding problem coins, and looking for registry points may be a strong contributing factor. 

[RWB]

19 hours ago, physics-fan3.14 said:

Yes, I'll agree that this seems to be the case. There are a few very passionate die marriage collectors (the Bust Half Nut Club), but my understanding is that membership is lower than it used to be. 

And I'll also agree - pursuit of the grade, avoiding problem coins, and looking for registry points may be a strong contributing factor. 

Something of the difference from being a "coin collecting numismatist" and a "coin accumulator."