Posted: 6/19/2013 10:52:55 AM |
The Sad Fate of the 2000 S Proof Sacagawea Dollar
I see there is lots of fuss about the lowered values for Sacagawea dollar coins in PF 70 Ultra Cameo condition. This shouldn't be a shock to anyone who collects modern coins. There is simply a limited group of collectors for most modern coins and far too many coins in perfect PF 70 UC condition. The real losers are those with PF 69 UC modern proof coins that will be lucky to get back the price of certification in the future. Yes I know there are exceptions to this rule, but not that many. With modern coins you need to think about the long term value (or lack thereof). Buy the coins you like, buy them cheap and don't worry about the value is a good motto for modern coin collecting.
Let's examine the sad fate of the 2000 S Proof 70 Ultra Cameo Sacagawea Dollar. In July 2005 this coin had a book value of over $600 and spiked at over $1000 in 2006. This value simply couldn't hold as more and more PF 70 UC coins came on the market. The U.S. Mint produced over 4,000,000 of these Proof coins with many in perfect condition. As of 2013 what was a $1000 coin has dropped to below $100 in value and will likely end up worth even less than that as the demand fades and the number of perfect coins slowly increases to well beyond 2,000 PF 70 UC coins.
This is an object lesson also for the American Silver Eagle Proof Bullion Coins that are hot right now. If there are several thousand or more of any coin in PF 70 UC condition one can also expect a high priced coin to drop over time as demand fades. Supply and Demand rule the coin world as well. This is something something one should consider when buying or selling modern proof coins.
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