KEY DATES Part 1 By: Harry Laibstain

This is our second installment you see it. Each series has on how to collect rare coins. In Key Dates and I`m going to the first series, I went to great run through some of them lengths to convince collectors/ here. There are too many Key investors that making money in Dates to mention all of them, coins should not be your num- so don`t get upset if I leave 1796 1/2 C With Pole ber one focus. I`ll repeat it here out one of your personal fa- and add that quality trumps vorites. What is appealing any example in any grade that price. You must purchase coins about these coins is they can has decent surfaces is a coin that people will want to own in literally be collected helter- worth owning. Low-grade ex- the future for reasons other skelter, or as type, or by de- amples below Good are out than it is a bargain. There has to nomination. Most type col- there, and with nice surfaces, be enough going for the coin lectors buy the commonest they still cost over 10K. I re- where another knowledgeable issues so they can attain the cently had the good fortune of collector will say, "I`d love to highest grades and still have selling a VF coin in the mid have that coin in my collection." money to feed the family and five figures, and over the These coins inspire competition pay the mortgage. But if you years, I`ve handled several F- and strong prices, whenever of- wanted to cross, type collect- VF coins and a few AU`s. fered. ing with Key Dates, which Look for an F or VF. If you Key Dates are coins in each I`ve seen done on numerous have deep pockets, search for series that are usually the most occasions, you can create a an AU. For some reason this valuable, and often the rar- very interesting set where coin, does not turn up in XF est. They are usually the last every coin is important in its but certainly that would be a coins acquired by a set building own right, a real team of all desirable grade as well. No- collector. Anyone who is well stars! Many sets have more body really knows what these versed in the U. S catalog knows than one Key Date and I cost until they sell, but I think all the Key Dates by heart. could easily get carried away VF is about 50K, XF is proba- These coins have been called but I`m going to list the ones bly starting to push 6 figures the blue chips of rare coins. I would go after and the and nice AU coins could easily Whether they are blue chips or grade I think would be nice be 150K or more. I sold a gor- not, they are certainly always in to have. geous AU coin to a good cus- demand and choice examples Half Cents...though the tomer about 10-12 years ago are even more impressive. Re- first year issues get a lot of and I think the price tag was call, choice, means well above play, my all time favorite is 60K. I suspect he still has it. average for the grade, free of the 1796. This coin comes in Honorable mentions include, problems or blemishes, and an two variations with and with- both 1802 half cents with the absence of mint made imperfec- out pole, the no pole being 1802 reverse of 1800 being tions like weak strikes, planchet the rarer of the two. extremely tough and special- streaks, or cracks and so on. A ized. The more common 2nd coin does not have to be perfect reverse is attainable, and nice to be choice but it has to have VF coins do show up. In addi- the right combination of attrib- tion, a long time favorite is the utes and no big negatives to 1811. I like this coin in XF or qualify. Choice coins don`t AU but if a nice VF shows up, come with a label but as you 1796 1/2 C No Pole grab it. This coin usually has buy better and better quality, problems and sweet ones are you learn to recognize it when I would focus my attention few and far between. on the "with pole" and say... Large Cents, the big boys of which is the undisputed Key of Either coin is well worth own- coppers, are a favorite series for the Indian set. Both coins are ing. Purchase this coin in Proof me. These big brown beautiful attainable in high grades. 56 64 or better. You won`t pay a Cents are almost magical when flyers rarely show up in less huge premium for 65, so if you they are nice. Again, first year than XF, and I would recom- can find a Gem example, buy issues are certainly Keys of mend a choice AU58 or seek a it! Two honorable mentions course but since we talked gem PR64. The 58 should run from this set include the 1864 about them in the first year is- around 12K and the 64 could Small Motto and the 1872, the sue article, I`m going to skip to easily go to 20K, maybe a toughest business strikes. A some of my other favorites. I shade less. Today 1877`s are beautiful 1872 is tough to find, really like both 1799 issues S- more plentiful in circ grades and trades at multiples of bid. 188 and S-189. but mint state examples have A great issue to own! For some virtually disappeared. I would reason, 1877, is one of those seek any mint state example really cool years in numismat- that was attractive and defect ics, and a lot of the coins from free. A choice, sharp XF, or 1877 are important. Therefore, nice AU will run 2500-3750, I will briefly mention that and are always popular with 1877's include Keys in Three 1799 1C S-189 collectors. I heard from a Cent Nickels and Shield friend that Madonna has a Nickels, both being proof The S-188 overdate is a bit 1877 Indian Cent as a keep- only. I would suggest collecting tougher overall and these coins sake. As Small Cents go, I these in 65 and 66. Look for are highly collectible in VG and would also mention the 1909-S good luster and mirrors and a higher. F and VF do show up, VDB and the 1914-D distinct absence of any spots, but beware of problems. Avoid which often plague these is- porous coins and try to look for sues. These come GEM, don`t good centering where the Date accept any less. is Full or nearly so. My other Jumping to V Nickels...there favorite is the 1804, a truly clas- are several Keys that are im- sic coin, available in higher 1909-S VDB 1C portant; 1885, 1886, and 1912- quality and colors than the 1799 S, but the 1885 is the one to and attainable in F- XF. A few The VDB is likely the most buy, if one is all you can do. honorable mentions, the 1821, well known Key coin in the en- and both 1823 issues, look for tire US coin catalog, but the solid VF and better and the final 1914-D is actually scarcer in year of 1857 in 64 or 65. high grade. Next up, Indian Head Cents, which for some curious reason 1885 V NICKEL seem to include flying eagle cents. There are two important For all three issues, exceptional coins here: The 56 flying eagle circ pieces in VF 35/40 and cent, which some believe was better, with full distinct Lib- really a pattern and the 1877 1873 2C CLOSED 3 erty's are tough to find, even Indian Cent, Two Cent pieces are another tougher than mint states. In favorite series for me and it is mint state, I like MS64 and relatively easy to assemble the maybe MS65 but 65`s are entire set. The last year, 1873 is pricey and I like the value for a the "Big Kahoona" and it is a nice 64. These are all difficult

proof-only issue. It comes in to acquire with full strikes, 1877 INDIAN CENT two styles, Closed or Opened 3. plan to let a weak star here or there slide, look at the overall coin and its around for a while. 1804 dimes coins for Seated Dime Key Date original flavor. I`d consider are expensive. I like VF coins type sets. Try to buy at least VF collecting this trio. Now that's which can run from 20-35K, in these three issues. an alternative to collecting a V- depending on how nice they nickel set, just get the big three are. Beyond that, the issue gets and get nice ones.

The 1796 is the Key Date in really expensive. Years ago, I Half Dimes. bought the much scarcer 14 star variety in XF for a paltry 8K 1894-S 10C and sold it at the same show to a very astute dealer-collector Barber Dimes have a Key Date for 8800. I`m guessing he still that shines above all others, the 1894-S. All but the richest collec- 1796 H10C has it and wouldn`t part with it

for 50K! tors can forget about this coin. This is a tough little coin and Last year a 1894-S sold for about Seated Dimes offer many choice examples are one in ten 2 million. The coin has a storied at best. Many are just too great rarities and this is one history and only a handful are messed up to buy. You can let heck of a set to put together. I known to exist. It ranks with the your standards down a bit, but think if I was going to collect 13 V-Nickel as a fantasy coin, or don`t go slumming. The 1805 keys from the seated series, I should I say a coin most collec- gets an honorable mention as could come up with a handful, tors fantasize about owning. I`d being highly underrated. Strike but the one that comes to mind say one of the most attainable is an issue on both coins and for me is the 1874-CC. and interesting dates to own is some weakness is almost to be the 1893/2 in high mint state or expected. Natural color and maybe a 1895-O in MS or choice surfaces define "Choice" in AU58. Years ago, I had the great these issues. They don`t have pleasure to buy about a dozen to be fully struck but stay with overdates that were contained in originality and go for VF mini- 1874-CC 10C a BU roll of 1893 dimes. I didn`t mum, unless the coin is nearly This coin is so scarce, in graded cherry them, the dealer knew perfect, which in lower grade it holders, that set builders have what he had but he let me certify seldom is. really absorbed all known ex- them and buy the whole batch In early Dimes, I like 1804 , after they came back. At the amples and a nice Good can time, PCGS did not recognize the bring close to 10000. I prefer variety but they were so clear this coin in VF or XF, but they they became the prototype for rarely come up. Many set build- the example. Most of what is cer- ers work this set at the XF/AU tified comes from this group. 1804 10C level and the 1874-CC is going Other honorable mentions in- to be one desirable coin in XF. clude 1901-S, 1903-S, and the which, like 1796 and 1877 is If one comes up it is truly a 1905-O, micro O. another standout year to nu- classic rarity. The other CC`s mismatists. 1804 dimes are get an honorable mention here quite rare and quite desirable, and any of them in a nice grade but like most early coins, find- would be perfect for a Key Date ing a problem free or at least 1916-D 10C type set. All collectors know relatively problem free exam- the CC dimes are tough. Other The undisputed king of Mer- ple is tough. When you do find notable dates include, 1846, cury Dimes and one of the it, buy it, another won`t be 1856-S, 1860-O. and are great most well know coins to collec- tors is the 1916-D. This was the first year of Mer- available, but if you are lucky Seated Quarters like seated cury dimes and the Denver enough to see one buy it. If the dimes include many great rari- mint produced the lowest mint- wife won`t let you keep it, sell it ties. The CC coins minted for only a few years are all quite rare age of the entire series. Many to me for a profit. and worth considering. grades are available. Choice VF and XF's are great. BU exam- ples do exist and I really like MS64FB for a value play. MS65`s take a big jump but if you can afford a nice one 1823/2 25C 1873-CC 25C go for it. Make sure it is a real Large Size Bust Quarters 65 and free of any defects. The 1873-CC is the rarest fol- have recently gained favor with lowed closely by the 1871-CC. Other honorable mentions in- the publication of a new book These show up in lower grades clude both 1921 dimes, Philly detailing all the die marriages. occasionally but almost never and Denver as well as both A few coins shine above the sold in VF or XF, too many col- overdate dimes 1941/2 P and D. others and all are expensive. lectors want them. Other coins I would try to acquire any of These are the 1823/2 and the worth considering in this huge two 1827's. I really like the these four in mint state. Almost set are the 1849-O and 1860-O, 1823/2 but even a Good will or maybe one of the civil war all the coins we are discussing run 50K+ these days. The are tough in high-end circ dates in mint state. Look for an 1827`s are a bit more esoteric 1863 or 1864 P or S. grades when choice, and well and generally come in high Barber Quarters offer three worth considering. grades. If you are fortunate very popular Key Dates, the 1896 enough to be offered any of -S, 1901-S and 1913-S. these coins, consider it strongly. I really like four other

coins in this series that are more affordable, the 1824/2, 1825/2, 1822 25/50, and 1828 1804 25C 25/50. The 1824/2 and 1825/2 are slightly difficult, but not im- 1901-S 25C Key Date Quarters. Again, possible to find. Both coins in The 1901-S is the undisputed rar- the 1804 shows up as the Key XF would be great coins to put ity. High-grade circ examples are Date to own, and technically, it away with a key date type set. tougher than mint states so that is tougher than the first year The 1822 25/50 and 1828 is where I would concentrate. issue of 96, and underrated by 25/50 are very illusive. Acquir- Even Choice VF coins can bring ing either of these issues in comparison. The 1804 is im- 20-30K, so I`d recommend VF to anything but the lowest grades AU on this coin. The 1896-S and portant to find in original con- is very hard. I just had the good dition. The reverse always 1913-S mid-grade circs are af- fortune to sell an 1828 25/50 in fordable, and perhaps a mint comes about 10 points finer for 58 to a very astute collector- state wouldn`t be out of the some reason and should be dealer and hope to come across question. Any of these three taken into consideration. Ex- another one soon. The 1822 would be quite notable in the pect the obverse to just make 25/50 is just so scarce that I barber quarter slot. Go for the the grade but don`t acquire one almost never get to buy one. trio if you can. All three coins in These are two of my all time where it doesn`t. Coins in nice choice VF would be quite a feat. favorite coins and I`d love to fine can reach five figures. XF purchase both. Even Goods get and AU coins are virtually un- me excited. Washington Quarters; has been an important acquisition the two mint-marked 1932 for the new owner and I`m cur- issues are the Keys and years rently trying to place a very pleas- ago could be found in low ing VG10, 16 star variety, a great grades in circulation. example for the grade. The 1797 small eagle is probably just as im- portant and generally, these coins 1817/4 50C are collected interchangeably. Ex- pect entry level for a graded, un- available Key Date is the damaged example to start at 50K 1815/2. Nice examples are most and go up from there. XF coins 1932-D 25C commonly available in VF but I can easily reach six figures if they like XF45 or AU coins when These coins are plentiful in are nice. they can be located. For under mint state grades and I The Draped Bust, Half Dol- 10K you can get a great coin. would buy the 1932-D in gem lars, were only minted from 1801 Honorable mentions are the 64 or 65 and consider trying -1807. two tougher 1807 varieties of to find a 1932-S in 65. Al- large and small stars, and if you though, they often have great include the reeded edge half eye appeal in 62-63 and are dollars in this group 1836 and quite affordable if you're 1839-O are worth considering. budget minded. Both being notable Keys and As the coins get larger, they not too pricey. generally get more expen- 1801 50C If you have big bucks, there are sive. Collectors generally pre- My two favorite Key Dates are, two neat Reeded Edge Half fer the larger denominations 1801 and 1802, closely followed Dollars that are truly rare and to the smaller ones. I guess by two great overdates 1805/4 expensive, the 1838-O (20 were size matters in numismatics. and 1806/6. Any of these four minted, and only 11 survived) Half Dollars are certainly would make a great Key Date and the 1839 with a reverse one of my favorite denomi- draped bust half dollar. They are nations and many Keys come available in XF and very scarce in quickly to mind in every se- true AU. Expect a big jump in ries. The early small eagle, value between XF and AU. An XF half dollars offer us another 45 coin in any of these issues is a 1796 issue that would likely great value play. be a centerpiece of any Key The next half dollars are the Date type set. Turbans, possibly the most fa- 1838-O 50C mous advanced early set to as- semble. Except for Large Cents, from the upcoming-seated se- this set is more often assembled ries....i.e. small letter reverse, by die variety than any other set. possibly only 3-5 known and Or, maybe they are even more one sold last summer for popular than large cents? I don`t around 60K in auction. The 1796 50C have the stats. What do you think, 1839 is a very interesting hybrid Bradley? Either way, the king of coin that bridges the Bust and The coin gains rarity as a two this set would be the 1817/4. Al- Seated series. -year type but it is very tough though a Key Date, it is coveted by Next up Seated Half Dol- as a date. I specialize in bust die marriage specialists as well. I lars. Just like the dimes and half dollars as well as all think something like nine exist. quarters, this long series boasts early type coins and have Good luck finding one, but if you many tough coins. handled many 1796 half dol- do, it's going to cost north of lars over the years. Each coin 250K. Another important and The 1870-CC, followed by the bers, and one with many Keys. 1873-CC and 1874-CC are The best and most well known three favorites. However, the among them are the 1921 issues most desirable of this set, in P, D and S with the S being the circ grade, is the 1878-S, a toughest.

1892-O MICRO O 50C

owner. In the last 3 months I have sold four 1892-O micro O's, two of them MS63 and one AU55. What a privilege! The 1878-S 50C best one I ever purchased re- 1821-S 50C sides in the Shireman collection, coin so rare that each exam- viewable in the registry area of I like the P and D mint in nice ple is meticulously tracked. the pcgs.com website. This coin MS 64 and the S in any grade. I Mint state coins are actually is a magnificent creamy gem really shouldn`t forget the 1919 more plentiful than nice Circs 65+++. It's worth a look. Other -D. It is difficult to acquire and and this is a coin worth col- important Keys in Barber Half- often has strike problems, so be lecting in any Circ grade from dollars include 1896-O, 1901-S, careful here. If you want some- Good to AU. You are going to and 1904-S. These are desirable thing from the latter half of the need deep pockets to own one as high-end circs when choice set, the 1938-D is widely of these, but it is really one of and realize great prices. In addi- known as the modern Key of the Keys to the entire US tion, all three issues are avail- this set. Other early dates worth catalog. I think a Good would able in MS grades. I like the acquiring: 1916-S, comes with cost 40K and XF is about 1896-O and 1904-S a little bet- booming luster, 1917-S, obverse 80K. This set is often col- ter and would shoot for one of mintmark, 1927-S, 1928-S and lected in XF condition and those if the micro O were not the 1933-S, which can come not UNC, therefore, high- available. The Barber Half series with beautiful luster and is usu- grade circs like the one we is highly collected as a set and I ally superb in 65 or 66! offer are quite desirable. The have helped many collectors as- Key Date Dollars and Gold will only one I have seen recently semble Mint state sets over the be discussed in the next article. beside this one is an XF that years. I`m very familiar with If you are going to buy Keys, sold last year in auction and a these coins and am always in buy nice ones, regardless of F15 that was on the market at the market to buy nice examples grade. Choice coins are usually around 60K. in all dates, as stated, even Circs 1 in 10 of the existing popula- Ah...Barber Half Dollars, in the Keys are great coins to tion so a scarce coin gets even one of my favorite series. This own. This is without a doubt my scarcer when you demand set has several notable Key favorite set to help new collector choice! As you can see there Dates, the toughest being the -investors build. If you have, are many Keys to collect and Micro O version of 1892-O, a about 500K we can assemble a you certainly don`t have to get small production variety, choice, well struck example of all of them. You might decide caused by using a smaller de- every date and mintmark in you want only twentieth cen- nomination punch for the O Mint state grades. I think it will tury Keys or perhaps go after all mintmark. Around 50 of this pay off and you will learn quite a of a certain denomination, buy- highly collected variety are bit about coins. It is a great en- ing more than one Key from known to exist. try point for the well-heeled new each series. The most important Recently the finest known collector. thing is to have a plan and stick came to auction and would The last set we're going to dis- with it. Focus on the coins you have fetched in the 250K cuss here is Walking Liberty really want and then hunt for range had the auction reserve Half Dollars. Another great choice examples in the grades not kept it from its new set to assemble, like the Bar- you can afford. The End