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700,000

clinic0603abw.jpgWhat were the minimum bids on the first GSA sale of CC dollars?

The sale closed Jan. 31, 1973. Minimum bids were $30 for the 1882-CC, 1883-CC and 1884-CC. There were 381,000 of the 1882-CC, 523,000 of the 1883-CC and 788,000 of the 1884-CC dollars. 700,000 were sold for the minimum bid.


Why is the low-mintage 1931-S cent only valued at about $140 in MS-60? As a new collector I?m puzzled by the inconsistency.

Chief reason is that collectors jumped on the coin as soon as it was released and large quantities were saved in original  rolls. Even after it was determined to be a low mintage coin, they could still be purchased over the counter from the
Mint. Few of the coins circulated, hence the flat price curve for the circulated grades.

Has every authorized denomination of circulating coins been struck?

All but the mill, out of a total of 18. Mill is an official denomination and still on the books.


 Didn?t the price of the 1936 proof set go over the $10,000 mark at one time a few years ago?

As a side effect of the sharp rise in silver and gold prices in late 1979 and early 1980, the early proof sets and other rare coins also moved up, principally because a lot of the profit from bullion sales was switched into rare coins when the market started to falter. The 1936 set reached $10,350 but is now cataloged at $7,500.


I have several rolls of worn Buffalo nickels, most of which have no dates or just partial dates. I?ve been told they are not worth saving. True?

You?ve got your money tied up in a dead end. Dateless coins have no prospects of ever increasing significantly in value, so you would be much better off to sell them for whatever slight premium you might get from makers of jewlery, hat bands, etc., and put the money in coins with a potential of increasing in value.


When was the U.S. dollar devalued?

The Coinage Act of 1792 set gold at $19.39. Acts of 1834 and 1837 set it at $20.67. The Gold Reserve Act of 1934 set $35, and the Smithsonian Agreement of 1971 raised it to $38. In February 1973 it went to $42.22.



Address questions to Coin Clinic, Numismatic News, 700 E. State St., Iola, WI 54990. Because of space limitations, we are unable to publish all questions. Include a loose 41-cent stamp for reply. Write first for specific mailing instructions before submitting numismatic material. We cannot accept unsolicited items. E-mail inquiries should be sent to Answerman2@aol.com.

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