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Vault clean-out caused Morgan price drops

clinic0911a.jpg clinic0911b.jpg? Was the 1903-O dollar the only rare New Orleans dollar that suffered a price drop from the process of cleaning out the Treasury vaults back in the 1960s?
The 1903-O got most of the publicity because the coin was selling for $500 or more up until they began finding bags of them among the millions in storage. The reports of bag quantities reaching the market quickly dropped the piece to a small fraction of the old high. At the same time at least two other high-priced New Orleans dollars, the 1898-O and the 1904-O, showed up in quantity, sharply dropping the market price.

? I read that there are several die varieties of the 1988-D cent. How do I identify them, and will they be as valuable some day as the varieties of the 1982-P and -D cents?
There are hundreds, even thousands, of 1988-D minor die varieties that occur every year at every mint. So saving any but the most important ? such as the large- and small-date, brass or zinc varieties of 1982 ? becomes a matter of space and a lack of potential market. The majority of such minor varieties probably never will be in demand. There is a very limited single-piece market for the vast majority of such die varieties.

? In what order should one consider the following: the number of a given coin minted, the grade, the mint where it was struck and the age of the coin?
It?s virtually impossible to rank the criteria. The mint is usually unimportant, except as a means of identifying a low-mintage coin.

The survival rate is another important factor. Some low-mintage issues are common because they were hoarded, while some high-mintage pieces were heavily melted, shipped out of the country, etc. For the same reason, age is often unimportant. Collector popularity and the amount of promotion a given coin has received also affect value.

? What did the Mint sell the special three-coin SBA sets for?
The sets, sold at a number of coin shows, were $4 each. The sets contained a P, D and S-mint Anthony dollar in a plastic envelope similar to those used for the mint sets.


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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