Dollar sale makes me wide-eyed kid | Silver Coins

Dollar sale makes me wide-eyed kid

2014 U.S. Coin Digest

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News that a Class I 1804 silver dollar sold for $ three,877,500 Aug. 9 at a Heritage auction prior to the American Numismatic Association convention in the Chicago suburb of Rosemont, Ill., is adequate to grab headlines. But does it grab you?

The high price tag is not fairly a record. A sale of a coin from the identical class in 1999 sold for $ 4.14 million. But the price tag is still quite impressive.

It beats out the $ 3.7375 million price that the Mickley specimen sold for in 2008 at the Heritage auction of the Queller Loved ones Collection.

The coin is so important that the catalog listing it characteristics its photograph on the cover. Inside, 30 pages are devoted to it. The coin’s history is fascinating. The price tag is totally justified.

But does it grab you?

When coins reach costs that are unaffordable to all but a handful of, the minds of collectors take a detour. Why spend much time pondering about some thing that is unattainable?

Excellent query.

It is precisely the unattainable that motivates us all. One thing is unattainable until it isn’t. If you won the lottery, would you join the hunt for a trophy coin like an 1804 dollar? Be honest. I’ll bet you would.

Most of us ratchet down our expectations. I know the odds of my purchasing an 1804 dollar, or of winning a lottery, are amongst slim and none. That’s why when I began collecting I mooned over the 1909-S VDB Lincoln cent far a lot more. It is human nature.

Nevertheless, I never discovered a 1909-S VDB Lincoln cent in modify, nor have I ever bought one particular. By the time I identified a complete-time job and could conceive of purchasing the rare Lincoln, my tastes had changed.

But I still really feel that emotional connection to the old dream. Even if someday never ever comes, in my mind the years disappear and for a few moments I am that wide-eyed kid once more with my newly bought Whitman albums dreaming of owning the most popular Lincoln cent. That never ever changes.

I have been fortunate. If I can’t own an 1804 dollar, I have had possibilities to examine them close up. I have held them in my hand and watched their rates go up over the years.

I have also had the opportunity to talk to a few of its owners. When I witnessed the sale of the Queller coin in 2008, I interviewed David Queller for the on-line Coin Chat Radio that we have been undertaking at the time. I have been privileged to become a pal of Reed Hawn, who owned the coin just before Queller.

You know what? At root, we all share the feelings and motivations of that wide-eyed kid that I when was. The privilege of being able to gather coins, to aspire to own pieces that so far have not come inside our grasp and the chance to know that we are merely custodians of them is universal. In that way I shared Queller’s achievement and Hawn’s achievement.

I don’t know who the seller is or the buyer is for the 1804 this time, but I do know they are just like the rest of us.

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