Jim Bisognani: New Market Insights from a Fellow Coindexter

According to the calendar, autumn is officially here. It arrived on September 23, which is an easy day to remember because it’s also my Beth’s birthday. As another year passes by, it does seem like there is some unseen force that is accelerating old Father Time. Thankfully, almost everything related to numismatics has been left the same; every day I still enthusiastically scan online auctions offered by coin dealers and browse the multitude of sundry sellers listing hundreds of numismatic items on eBay.

Along with some great coins, there are legions of other collectibles — toys, art, figurines, models and more — on eBay listed as “limited editions.” Some of these are puzzling; why were they made in the first place? Even so, they are fun to look at and explore. These “limited editions” usually number a few hundred to a few thousand. Don’t get me wrong, I am a total enthusiast for vintage toys and such. Yet, I guess the key is vintage; I am not interested in having something produced in limited quantity if I don’t like it. I have seen so many listings languish at a regrettably high “retail price.”

I mean, it is great to have one of only 100 of something, but just because there are only 100 of something doesn’t mean there will be people wanting to buy it. If there are no buyers, there is no market. The price will ultimately be reduced, and there will be little — if any — demand on the secondary market.

Of course, there are many non-numismatic collectibles that have become the “toast of the town” and have maintained a robust secondary market. Unfortunately, for many of the “limited editions” out there, the secondary market setting isn’t something they ever gain a following in.

That is why coin collecting is such a great hobby. There are collectors — millions of collectors — each vying for rare, eclectic and modern numismatic items more than ever.

And yes, there are a plethora of modern numismatic “limited edition” issues, mostly touting popular themes and characters from movies and other pop fiction franchises. These are predominantly minted and designated as coins of the realm from little-known sovereign states. These coins are especially popular for the newer generation of coindexters, and I am excited and hopeful that these issues will be a stepping stone to their discovery of other, more vintage numismatics.

Unlike when I was a kid, having to thumb through a dealer’s semi-monthly newsletter or search through an old Red Book for pricing and descriptions, today there are a multitude of online resources that help my fellow coindexters better enjoy their numismatic journey.

Whether your fascination and obsession is with US coins and you are anxious to find an 1895-O Barber Quarter graded MS 64, or you want to acquire a 1957(P) Australian Penny graded PF 66 Red, you have online resources at your fingertips to assist in the acquisition. In the case of the 1895-O Barber Quarter, a bit of research confirms only three NGC MS 64 examples have been offered at public sale in the last 12 years, with the last coin selling nearly five years ago! Although the NGC US Coin Price Guide has the MS 64 valued at $1,600, for a coin that appears so infrequently and stays in such high demand, a collector should anticipate some stiff competition — and perhaps an elevation in price when the coin appears at auction.

An 1895-O Barber Quarter graded NGC AU 58 Click images to enlarge.

The 1957(P) Australian Penny has a mintage of 1,112. According to the NGC Census, there are a total of three PF 66 RD examples, with none graded higher. I can find no immediate NGC sales data, and only two sales for like-graded coins in another third-party graded holder. According to the NGC World Coin Price Guide, the 1957(P) is valued at $800. So, whether the collector is looking for a popular key date or something else, the tremendous resources that the NGC website offers will help you calculate a current market value and point you in the right direction.

An Australia 1957(P) Penny graded NGC PF 61 RB Click images to enlarge.

Truthfully, I wish I had just a small percentage of all this data available to me when I was a youngster. It probably would have helped me pick up some better, under-the-radar coins for my collection. Today, as a research and data maven, I am always on the lookout for new resources in numismatics.

A comrade coindexter

Just a few days ago, a fellow coindexter sent me an email. It read, “Hi Jim. One of your ‘Coindexters’ checking in here! You and I are about the same age, and both of us started collecting coins as young kids, so I can relate to much of what you write about and look forward to your column every other week. As usual, your column from September 14 (‘Demand for Collector Coins Is Expanding!’) was both entertaining and educational. The last paragraph where you advised readers to watch price trends was spot on!”

Dan Goevert

My new friend is Dan Goevert, hailing from the Jayhawk State of Kansas. Dan is a very serious numismatist who was first introduced to coin collecting at the age of four.

Dan’s first inspiration

Dan was about four years old when he and his family went to church. It was in this hallowed setting that his grandmother promised him and his brothers, “If we behaved in church, we would get candy and a nickel, or a dime. I didn’t always receive the reward, but most of the time, I did.”

It was around then that Dan took notice of Mercury Dimes. They were different from the Roosevelts that were in circulation at the time, and the youngster thought they were neat. “I started setting them aside and saving them,” Dan told me. “I thought they were interesting. I felt compelled to save the Mercury Dimes, or ‘that woman with the strange hairdo.’”

Since about the age of eight, Dan said he has referred to himself as a coin collector. “As a kid, it was magical. It was fun going through virtually every piggy bank I could find, trying to find something I could put into my Whitman Penny holder folder.”

Dan’s first big purchase was a lightly circulated 1909-S V.D.B., when he was 18. “It was a big chunk of money — $75!” I had to save my Christmas money and my birthday money, but I got it. It was an exciting day. The purchase was from a local dealer here in town.”

That purchase was followed up about a year later with his next big acquisition, a 1916-D Mercury Dime. Although the venue wasn’t your typical locale to acquire rare coins, it worked out. “I paid $125 for it,” Dan said. “I bought it at a flea market, and I’m lucky I didn’t get an altered coin.” Dan went on to say that he did have it graded by NGC and it came back as an authentic coin graded AG 3. My friend proudly proclaimed, “I still have that coin today!”

The joys of numismatic history

Dan has long held a fascination for the War of 1812. “My fascination with that era started when I was a junior in high school when I wrote a term paper on the subject. My home office, where I’m sitting right now, is completely decorated in décor from the Federal period. They call it the Federal era of design, furniture, architecture and other stuff.”

“Sitting on top of a fine furniture chest, there is a gold-toned jewelry box. When I buy coins that might actually have been circulated during the War of 1812 period, I throw them in that box. There are some Half Cents, and an 1815 Quarter in there, too. Every now and then, I’ll get a coin from that era and put it in the box.”

Since the War of 1812 ended in 1815, Dan will only secure coins that were dated 1815 or older to reside in that jewelry box. “The best coin in the box is a 1795 Half Dollar, which is probably the most valuable coin in the box. Because they’re worn, I took them all out of their flaps. I don’t jostle the box around that much, so they can’t get damaged.”

Dan also pointed out that a painting hanging on the wall behind his desk is an important numismatic reference. “The painting,” he said, “is the one where George Washington and his entourage are looking at the first Half Disme struck in 1792, in John Harper’s cellar in Philadelphia.”

Rare Coins 101

Dan became interested in charting coin values and watching trends during the 1980s. To date, he has spent many years refining his current project…

Three years in the making, he has produced a website and the data contained within. “It took a lot of time and a lot of number crunching. I’d never seen anything like it before. Having a distilled list of coins that have performed at a very high level compared to the typical common coin… I don’t know if I’ve ever seen anything like this, especially since it has all the charts. I’m really pleased with the charts. The charts are user-friendly. You can look around in various conditions and grades. It is very easy to compare coins to one another.”

Top performers

Like most collectors, Dan bought some stuff that he enjoyed, and was buying it just for the joy of collecting. At the same time, he was also hoping that he was spending his money on something that would rise in value, and that perhaps, someday, his collection would be worth considerably more than what he had paid for it.

“I think I got a really good list of coins that have performed very, very well over a long period of time,” he explained. “So for people that enjoy buying coins, and are looking for coins that have traditionally and historically performed well, they can use my website and see what should do very well in the future.”

“The area of US coin collecting that really interests me is the early US coins. My goal is to buy a 1796 Draped Bust Quarter. There are others in that era, but I am just really fascinated with that coin in particular. In fact, I have it written down on my bucket list that I need to get one of those. I won’t ever be able to afford a Mint State coin, but I think I can swing a nice VF.” (Dan's wife, Mary, is not a collector, but she is very supportive of Dan and his collecting endeavors. However, she may have the final say here.)

Here is the link to Dan’s wonderful website: Rare Coins 101. I think you’ll find it a valuable, entertaining and exciting resource. Enjoy!

Until next time, be safe and happy collecting!

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