The 2008 American Gold Eagles that set the record low mintages were the 2008-W Uncirculated $50 Gold Eagle, 2008 Proof $5 Gold Eagle, 2008-W Uncirculated $ Gold Eagle, and the 2008-W Uncirculated $10 Gold Eagle.  The American Eagles do have very low mintages.

What caused these low mintage numbers?  First and foremost, the US Mint had problems getting gold planchets to produce these coins.  I believe that this caused most of the low mintages for 2008.  However, I don’t think that gold planchet availability explains it all.

I think that the gold price volatility played havoc on the Mint’s ability to purchase gold.  2008 was a year of record high gold prices and 12 month lows for gold prices.  This gold price volatility makes it very difficult on the US Mint to determine what price to pay for gold planchets and what price to sell the Uncirculated American Eagles.  This price volatility led the US Mint to change its pricing policy on its gold and silver products for 2009.  Now the US Mint sets the prices on its gold and silver coins every week.

It will be interesting to see whether the low mintage numbers for 2008-W Uncirculated $50 Gold Eagles, 2008 Proof $5 Gold Eagles, 2008-W Uncirculated $ Gold Eagles, and the 2008-W Uncirculated $10 Gold Eagles will drive the prices up for these US gold coins in the years to come.  Now might be a good time to buy these 2008 American Eagle gold coins.  Go check out below some of these 2008 American Eagle gold coins on sale at Ebay right now.

Key Date Lincoln Cents

One of my favorite coin writes, Mark Ferguson, has a great article right now on Coin Values about coin buying trends.  Mark’s article provides great insights into the current coin buying trends of coin dealers.  Mark states that coin collectors are buying lots of lincoln cents as both individual coins and early date rolls of Lincoln cents.

Due to this great interest among coin collectors with collecting Lincoln cents, I have created a new website dedicated to collecting Lincoln cents.  This new website is titled Key Date Lincoln Cents.  I hope that this website grows into a great coin collecting website and coin collecting resource for people wanting to start collecting Lincoln Cents.

So far I have only created several articles on Key Date Lincoln Cents.  My first articles were on the 1909 S VDB Lincoln Cent, 1909 S lincoln cent, and the 1914 D lincoln cent.

Key Date Lincoln Cents is going to describe the key date lincoln cents, the most popular varieties of lincoln cents and tips for collecting lincoln cents.  I would love for you to visit my new site and leave a comment.  Additionally, if you are a Lincoln cent collector, I would love for you to write an article for either Coinblogger or Key Date Lincoln Cents.

I thought that it would be great to interview Jack about being a coin dealer and a Lincoln cent expert. After reading this interview, I encourage you to check out Jack’s online coin store at www.mesacoin.com. Now, on with the interview.

Jack, thank you for agreeing to do this interview. You are famous on CoinTalk and it is a pleasure for me to get to interview you.

How did you start collecting coins?

Jack: I started with the Whitman blue folders in the 1960′s.  My uncle Skip worked at a coin shop in Detroit and would tag me along to coinshows, the shop, etc.  He was my mentor and teacher. Sit and search wheat bags was my #1 job.

How did you move from collecting coins to becoming a coin dealer?

Jack: It became something that I lived and breathed.  There reached a point that I had too many coins, and had lost my focus. I found that I could move some of my extras and build on my collection with the extra money.

When did you start your coin store?

Jack: I started MesaCoin.com in 2008 as an experiment to see if I could beat Ebay at the coin game. I was able to sell for lower prices and provide one on one service to my customers on a much more personal basis.

What advice would you give a coin collector who wants to become a coin dealer?

Jack: ” Specialize.”  Don’t try to be everything to everybody, you’ll get lost in the mix.  Do one thing and do it well.

Do you only sell coins online at Mesa Coin or do you also sell offline?

Jack: The majority of my sales are behind the front lines.  Many of my purchases are for want list customers, and they never see the light of day on my website.  They are ” pre-sold ” at time of purchase.

What advice do you have specifically related to selling coins on an online store?

Jack: You will need to cater to the customer.  You are the liaison between the customer and the bourse.  As you develop customers, your #1 job is to understand their set and their needs.  Most people want a matching set in any given grade.  A picture archive is great.  You can look up your customers’ collections and make sure that the new one will fit.  And, you can dictate purchases to their specific needs.

What about Lincoln cents made you decide to specialize in them?

Jack: I became intrigued with the history and the simple beauty of the wheat cent.  And, as a business man, I know they are the most popularly collected coin in the world.   How can you go wrong with that?

If someone is wanting to start collecting Lincoln cents, what advice would you give them?

Jack: Buy the keys first, but be very careful.  Do not fall into the trap of buying what you plan on spending right now. Buy the books first and window shop.

Research the differences in grades.  Many are not that far apart. What you’ll want to do is budget your set, set a goal, and be realistic.

For example, why buy a F12 SVDB for $1200 when you can buy a VF-20 for $1350 or an XF for $1400.  This coin alone will probably dictate your collection, if you choose to do a “matched set.”

Figure out your budget in advance and start with the most expensive coins first, after your “education buys.”

What Lincoln cents do you think will experience the most appreciation over the long run?

Jack: The keys are the most popular. Avoid the modern registry fever coins, which translates to common dates/grades in plastic that cannot hold up. Pass on that MS-67 1955-S for $100, spend that $100 on an XF or AU semi-key.

Are there any sleeper Lincoln cents you would recommend we watch?

Jack: The 20′s decade is notorious for weakly struck and ugly coins. With some searching, you can learn to spot the primos. Dates that immediately come to mind are the 21-S, 23-S, 24-S, and all branch mint from 1925-1928 in SHARP fully struck and original condition, grades XF and above, AU is ideal. An XF/AU set is the most popular set I help build.

I have asked a lot of questions here.  If you feel there is a better way to elicit this information in a better manner, please don’t hesitate to freehand this interview.

Jack: First thing that is in order for a beginning Lincoln collector is the ” tuition box “.  Buy a roll of generic wheats, then experiment.  Here is your shopping list:

Brillo pad, wire brush, potato, a jar of dip, some ” MS-70 “, a smoker in the family, a dirty thumb, dandruff shampoo and Dellers Darkener, a jar of olive oil and a can of acetone, Q-tip….etc. etc.

Destroy that roll – try everything.  Learn to recognize a baked coin, a dipped coin and see what a Q-tip does to proofs.  Rub a BU common coin with your t-shirt. See how to recolor dipped copper with the sulfer based dandruff shampoo, then dip it again and heat it. Artificial tone them with the MS-70.  See what cigarette smoke, when blown repeatedly on a dipped coin, will do. Try to cover scratches with the dirt on your thumb.  See what burying a cleaned coin in an old envelope in your basement, backyard or on top your water heater for a summer will do.

You must arm yourself with an arsenal of knowledge, and be able to instantly recognize the signs of doctoring.

Buy every book you can find -  the Lange book, Sol Taylor, Doughtery, Wexler, read them twice, then read them again.  Knowledge is king.

End of Interview

Again, I would like to thank Jack for taking the time to share his thoughts about being a coin dealer and collecting Lincoln cents.

I encourage you to check out Jack’s coin store.  Jack’s reputation on the CoinTalk forum is superb.  If you are looking to put together a collection of Lincoln cents, I highly encourage you to check out his site.  I am sure that he will provide you with similar great service.

In a recent article by Mark Fergusen, a Coin Values Market Analyst, he writes about how Lincoln cents are in a spotlight.  In 2009, the United States Mint will be issuing four new lincoln cents with four new designs on the reverse of the lincoln cents.  These coins will depict four different stages of Lincoln’s life from his home in Kentucky, growing up in Indiana, starting his professional career in Illinois, and culminating in the Presidency.

As Fergusen points out in his article, this spotlight is causing Lincoln cent coin values to go up.  The price of the 1909-S V.D.B. lincoln is going up and so is the 1914-D lincoln cent.  These two coins, the 1909-S V.D.B. lincoln cent and the 1914-D lincoln cent, are the key date lincoln cents.  They are the bellweather for lincoln coin values generally.  If the price on these key date lincoln cents is going up, most lincoln cents values will follow.  However, typically they will not appreciate as much as the key date coins.

If you are a lincoln cent collector, prepare for prices on these coins to go up in 2009.  As I mentioned in my article on the hottest coins to buy in 2009, the 2009 lincoln cents and lincoln cent collections generally will be the best coins in 2009.

Do you think that lincoln cent coin values will go up in 2009?  Please share your thoughts in the comments below.

2009 is turning out to be a pretty exciting year for coin collecting.  Much of the excitement has been caused by the events of 2008 – the volatilty in the price of gold, silver and platinum, the financial crisis and the simultaneous fear of  inflation and deflation.

Here is my list of the hottest coins to buy in 2009:

2009 UHR Double Eagle

1.  2009 UHR Double Eagle – The 2009 ultra high relief double eagle gold coins might be the hottest coin to buy in 2009.  If you are thinking about buying gold coins and are considering buying gold coins that will have numismatic value above the price of gold, this ultra high relief st. gaudens is awesome.

2.  2009 Lincoln Cents – The second hottest coins for 2009 are actually four coins.  The United States is celebrating Abraham Lincoln’s 200th birthday and 100 years of the Lincoln cent with four new designs on the reverse of the lincoln cent.  The United States Mint is removing the Lincoln Memorial and replacing it with pictures of Lincoln’s life.  The four coins will depict Lincoln’s birth in Kentucky, teenage years in Indiana, professional years in Illinois and Presidency, respectively.

3.  Lincoln Cents Collections – I believe that the people of the United States are going to collect the 2009 Lincoln Cents in droves.  Like the State Quarter mania that has gripped the United States for the last decade, I think that the new Lincoln cent designs are going to ignite interest in Lincoln cents collections.  In fact, Lincoln cent prices are already up 20% in 2008.

4.  1909-S V.D.B. Lincoln Cent – With collecting lincoln cents collections taking off in 2009, look for the Lincoln cent key date coin to also be a hot coin to buy in 2009.  The 1909-S V.D.B. is always the most sought after Lincoln penny, but look for demand to increase for this coin in 2009.

5.  Franklin Half Dollars – I might be going out on a limb here but I think that Franklin half dollars will be sleeper coins in 2009.  As the economy worsens, coin collectors are going to spend less money.  I think that in spending less money, coin collectors will look for more affordable collections.  One of the cheapest collections you can put together right now are Franklin halves collections.  I think that MS-65, MS-66, PR-65 and PR-66 Franklin half dollars will appreciate in price the most.  If you have a limited budget, collecting franklin half dollars might be a great way to invest in coins in 2009.

What do you think will be the hottest coin to buy in 2009?

Coin collecting revolves around collecting key date coins.  It is these key date coins that set the market for coin prices.  For any collector of a certain series of coins, you must know the key date coins because these are going to be the most difficult coins to buy.  Finding these rare coins can be difficult.  And, collecting rare coins can involve big money.

For the buffalo nickel coin series there are 7 key date coins.  Some coin collectors consider only the 1913-S Type II buffalo nickel to be a key date coin.  But, I think that for most coin collectors, the semi-key date coins can also be included in the list of buffalo nickel key date coins.

List of Buffalo Nickel Key Date Coins

1913-S Type II buffalo nickel, mintage – 1,200,000

1926-S buffalo nickel, mintage – 4,200,000

1913-D Type II buffalo nickel, mintage – 4,200,000

1914-D buffalo nickel, mintage – 3,900,000

1915-S buffalo nickel, mintage – 1,500,000

1921-S buffalo nickel, mintage – 1,600,000

In addition to these buffalo nickel key date coins there are some buffalo nickel varieties that are also considered key date coins for buffalo nickel collections.

These key buffalo nickel varieties include the following,

1937-D 3-legged buffalo nickel

1936-D 3 1/2 legged buffalo nickel

1916-P double die obverse buffalo nickel

1918-D 8-over-7 buffalo nickel

If you would like to read more about buffalo nickels, Stella Coin News has the Complete Guide to Buffalo Nickels book on its site.  Another great book to read is The Authoritative Reference on Buffalo Nickels.

Here are some current auctions to buy key date buffalo nickels.

The Official Red Book a Guide Book of Buffalo and Jefferson Nickels:
Complete Source for History, Grading, and Values
(Official Red Books)

Here are the top 10 lowest mintage buffalo nickels:

Date                                                                Mintage

1.  1926-S Buffalo Nickel -                             978,000

2.  1931-S Buffalo Nickel -                             1,200,000

3.  1931-S Type 2 Buffalo Nickel -              1,209,000

4.  1924-S Buffalo Nickel -                             1,437,000

5.  1915-S Buffalo Nickel -                              1,505,000

6.  1921-S Buffalo Nickel -                              1,557,000

7.  1913-S Type 1 Buffalo Nickel -               2,105,000

8.  1927-S Buffalo Nickel -                              3,430,000

9.  1914-S Buffalo Nickel -                               3,470,000

10.  1914-D Buffalo Nickel -                            3,912,000

Based on mintage numbers alone these would be considered key date buffalo nickels.

If you want to specialize in collecting buffalo nickels or just learn more about them, I highly recommend these books,

• The Official Red Book a Guide Book of Buffalo and Jefferson Nickels: Complete Source for History, Grading, and Values (Official Red Books)
• The Authoritative Reference on Buffalo Nickels

I will do another post about what truly are the key date buffalo nickels taking into account factors other than mintage numbers.  In the meantime, check out these articles on key date coins.

2008 Kennedy Half Dollar

Today I read an article from the Mint News Blog titled 2008 US Mint Sleeper Hits.  In that article it is stated that there were only 1.7 million 2008-P Kennedy half dollars and 1.7 million 2008-D Kennedy half dollars minted in 2008.  If these low mintage numbers remained low in December, the 2008 Kennedy half dollars could be the lowest number of minted Kennedy halves since the series began in 1964.

In 1964, the Philadelphia Mint produces 277,254,766 Kennedy half dollars.  The highest mintage year was 1971 when the Denver Mint produced 302,097,424.  However, in recent years Kennedy half dollar mintage numbers have been very low.  In this decade, the US mint has averaged about 2.8 million  half dollars per branch mint per year.

Will the 2008 Kennedy Half Dollars be key date coins for the series?  If you go by mintage numbers, it is hard to imagine that it won’t be.  In fact, every year since 2000 will be key date coins for the Kennedy Half Dollar series.

Will you be buying some 2008 Kennedy half rolls?

Seated Liberty Coins Obverse

Types of Seated Liberty Coins

• Seated Liberty Dollars
• Seated Liberty Half Dollars
• Seated Liberty Quarters
• Seated Liberty Dimes
• Seated Liberty Half Dimes

Ways to Collect Seated Liberty Coins

One cool way to collect Seated Liberty coins is to collect a Seated Liberty type set collection.  A Seated Liberty type set collection could include a higher grade mint state common date coin from each of these Seated Liberty coin types.  There for you could buy a common date Seated Liberty dollar, Seated Liberty half dollar, Seated Liberty quarter dollar, Seated Liberty dime and Seated Liberty half dime.  This would be one of the cheaper ways to collect Seated Liberty mint state coins.  If your budget is more limited, you could collect a circulated Seated Liberty type set collection.

Another cool way to collect Seated Liberty coins is to pick one type of Seated Liberty coin and collect that entire set.  I really like the idea of collecting Seated Liberty quarters.  These are not as expensive as the Seated Liberty dollars and half dollars, but there is still a nice size coin to collect.

If you want to go all out, you could try to collect all of the Seated Liberty coins in each coin type.  You better have a pretty big wallet though.  You would certainly cut the cost buy collecting lower grade circulated coins.

Another interesting way to collect Seated Liberty coins is to collect interesting varieties and Seated Liberty coin errors.  Pick up a Cherrypickers guide (Cherrypickers’ Guide to Rare Die Varieties of United States Coins: Half Dimes Through Dollars, Gold, and Commemoratives (Official Whitman Guidebook)) and study the interesting varieties and then cherrypick them when you uncover hidden gems.

Opportunities for Investing In Seated Liberty Coins

The Seated Liberty coins are primarily collected by experienced coin collectors.  Because of this, there tends to be more price stability in the Seated Liberty coin market than say the Morgan dollar coin market.

As I have discussed before, investing in key date coins is one of the best ways to invest in coins.  Key date Seated Liberty coins typically go up in value at a great rate than common date coins.  This is an issue of supply in demand.  If investor demand for Seated Liberty coins goes up, of course the coins in the least supply (the key date coins) will go up in price the most.

Do you like collecting in Seated Liberty coins?  Do you think investing in Seated Liberty coins is a good idea?  Please leave your thoughts in the comments below.

Bernard, thank you for agreeing to do this interview. As we have discussed, I am interested in collecting full step Jefferson nickels. Thank you very much for agreeing to help me to get started in collecting full step jeffersons nickels.

I have read your about page on your site, Big B Coins,  where you state that you specialize in collecting and dealing Jefferson nickels.

What led you to specialize in collecting Jefferson nickels?

Bernard: I was first attracted to Jefferson nickels because I believed that they were a good value. Once I started studying the series, I became enamored with the design; I think it is a beautifully-designed coin.

Why do you like to collect full step nickels?

Bernard: I like to look for full-step nickels primarily for the challenge. While the coin design is beautiful, there are two reasons why Jefferson nickels are not often found with full steps. First, the copper-nickel alloy is very hard. For this reason, high striking pressures have to be used, and this often resulted in dies wearing out quickly. Second, the high point of Jefferson’s hair on the obverse corresponds with the steps on the reverse. This means that only well-struck coins will have full steps. Collectors of all series try to find well-struck coins, for instance, full-split-band Mercury dimes or full-head Standing Liberty quarters.

Where should a beginning coin collector go to find full step Jeffersons? Can you find them in coin rolls from banks? Is it worthwhile to buy uncirculated rolls of nickels?

Bernard: A beginning collector should not necessarily start trying to collect full-step Jeffersons, because it is very challenging, and someone may get discouraged easily. However, if a collector is inclined and motivated, then they will find this to be a very rewarding quest.

Modern Jefferson nickels, from the 1990s to present, almost all have full steps. Because of design changes and improvements in coin presses, these are relatively easy to locate, and can be found in circulation, or in rolls from the bank. Earlier full-step coins are almost impossible to locate in this fashion, though, and are usually found in one of two ways. First, you can purchase individual coins from dealers that have been well-preserved. Sometimes dealers will have full-step coins set aside and marked as such. Often, though, dealers aren’t aware that their nickels have full steps, or don’t want to be bothered looking. This presents a bargain-hunting opportunity for a collector who does want to take the time. A coin worth several hundreds of dollars can be purchased for only a couple of dollars, if you take the time to look carefully.

On the other hand, you need to be aware of coin dealers who will label a coin “full steps” when it is not actually. While there are varying opinions on exactly what constitutes full steps, the market has generally decided that 5 full steps, without breaks, is acceptable. Most technically, the design has 6 steps, but for many dates in the series, 6-step coins are unknown. Collectors, then, seek the best coins they can find, which often results in having to use a 5-step coin, or sometimes even 4.

If you want to purchase older rolls to hunt for full steps, you should be aware that many of these coins have been searched already. Your best bet is to purchase original, bankwrapped rolls that have never been opened. These, however, are few and far between, not to mention expensive.

I know that a lot of coin collectors have a hard time telling whether or not a particular nickel has full steps. Could you tell me how you determine whether a nickel is a full step nickel?

Bernard: Sure. If you look at the reverse of a nickel from 1938-2003 (the design changed in 2004), look closely at the steps of Monticello. You will hopefully see horizontal lines that represent the steps. These steps are supposed to be complete, from left to right, going under all 4 pillars, completely uninterrupted. They do not have to be strong, just complete. I highly recommend you use a loupe or magnifying glass (I use a 10x loupe) to look at the steps, as small details are important here. You don’t want to have any nicks breaking the continuity of the steps.

Since this is a highly visual concept that I’m trying to describe, I would refer the reader to the best reference I have seen for counting steps:

http://varietynickels.com/pages/jefferson-nickel/grading/understanding-full-steps.php

This will make very clear how to look for full steps, as well as an alternate method of counting steps, called the “four quarter step count.” I use this method personally, and I find it to be much more accurate. In this technique, one counts the number of steps visible under each pillar. If I say a nickel has two full steps, that doesn’t tell you much, but if I say the step count is 5-3-2-5, then you have a much better picture of what the steps look like.

As a coin dealer specializing in selling Jefferson nickels, are there any Jeffersons that you think will be particularly good investments?

Bernard: I want to be careful in answering this question, because I don’t sell coins as investments, and you should be wary of anyone who does. While coins may increase in value, they may decrease as well. Coins should primarily be collected because you enjoy them. If they happen to make money for you too, well that’s great.

That being said, coins in the Jefferson series have been trending upward lately. As with any series, key date coins are the ones most likely to increase in value. For the Jefferson series, there are no major rarities (which is one of the reasons it’s a good series to collect) but the rarest dates are 1950-D, 1939-D, 1939-S, 1938-D, and 1938-S. For the market right now, I think 1950-D coins are a great buy. The 1950-D nickel is also a great example of why not to invest in coins! About 30 years ago, an average uncirculated 1950-D nickel sold for as much as $50. Today you can buy the same coin for $15-20. They are on the way back up, but it will be awhile before they reach their previous levels.

Let me take a moment to go on a tangent and talk about the relative rarity of the two key coins to this set: The 1950-D and 1939-D. The 1950-D has the lowest mintage of the series, but it was known at the time it was being released that it was a low mintage coin, so many of these coins were set aside by collectors and dealers. In fact, I would venture to say that there are far more uncirculated 1950-D nickels than there are circulated ones! You can buy a circulated 1950-D coin for about $10, and an uncirculated one for about $15-20! Now, the 1939-D has a higher mintage, but very few of these exist in mint state. So, you can buy a circulated 1939-D coin for $5-6, but an average uncirculated one (say MS-63) will cost nearly $100.

End of Interview

Again, I would like to thank Bernard for helping me personally with learning how to collect full step Jefferson nickels.  I would also like to thank Bernard for agreeing to this interview.  I think that Bernard has provided some great information for both beginner coin collectors and old pros.

I encourage you to check out Bernard’s coin store.  Bernard is looking through his inventory of Jefferson nickels to find me some nice full step nickels.  I am sure that he will provide you with similar great service.