Owner Comments:
A STUDY OF NGC STAR DESIGNATED COINS.
I am a huge fan of NGC star designated coins. Two seperate coins are depicted above, both certified by NGC as MS65. One was awarded a Star designation. Can you guess which coin was given a Star designation? The answer might be surprising.
NO, THE COLOR TONED COIN ON THE RIGHT WAS NOT GIVEN A STAR. THE COIN ON THE LEFT WAS AWARDED A STAR DESIGNATION FOR IT'S PROOF-LIKE OBVERSE.
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COIN #1 ( COIN at LEFT) - MS65 STAR. At first glance the coin pictured at left looks like a Proof or Special Mint Set coin, with it's mirrored obverse surface. Special Mint Set coins were not produced in 1968, of course. When you look closely and see a Denver mintmark you realize that it is a nice gem business strike that was awarded a star by NGC for it's mirrored and highly reflective obverse. Here is an example of NGC awarding a Star designation to a business strike coin with a Proof-like obverse. A coin must show Proof-like surfaces both obverse & reverse to be awarded the PL ( Proof-like ) designation. NGC treats a Cameo coin the same way. Sometimes NGC will award a Star for a one- sided (almost always the obverse) Cameo coin if the reverse of the coin is not fully frosted. A PL designation might be regarded as rare prior to 1970 in the Kennedy Half Dollar series. For some unknown reason the year 1970 produced more proof-like half dollars than all the previous years of the Kennedy series combined. Even so, those PL coins dated 1970-D are relatively scarce and highly valued by the Kennedy specialist.
The scarcity of these very early business strike Kennedy Half Dollars that have a proof-like finish cannot be overstated. They are in fact non-existant for some early years.
I find it interesting that this MS65 STAR coin is awarded the lowest registry score out of this whole set. According to the NGC census of 1968 business strikes, there are presently only 17 MS65 STAR coins , out of a total population of over 2700 coins graded as MS65. A 1968 Kennedy graded as MS65 STAR is obviously a rare item, yet the price guide and registry scores do not come close to reflecting that rarity. A coin's registry score/price guide value does not necessarily reflect the true rarity of a coin. Such are the frustrations and inconsistencies of collecting coins.
Serious Kennedy Half collectors understand how difficult it is to find any early business strike ( not SMS ) Kennedy with an NGC STAR designation, especially if that STAR designation results from a PL obverse. PL designated half dollars from 1964-1969 are practically un-collectable due to their scarcity or outright non-existance. The few PL designated early BUSINESS strikes out there are mostly salted away in bank safe deposit boxes, probably never to come to auction.
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COIN #2 ( COIN at RIGHT) - NGC MS 65.
Coin on the right is shown in keeping with my goal of providing an example of a nicely color toned business strike coin. This is one of my favorite coins in the set. I am partial to blue toned business strikes . I have always been willing to pay a substantial premium for a nice cobalt blue or blue/violet toned coin. Based on my observations from years of auction sales, I would call this color combination a rarity in a 1968 Business Strike Kennedy. I don't think I could ever replace it.
Sometimes the art of professional coin grading leaves us scratching our heads in wonder. NGC gave this one a straight MS65 grade without a STAR. Go figure.