Mercury dimes, Walkers, $10 Indians up

Last month I said $10 Indian gold was a good buy. They are up about 10 percent in circulated grades now. Of course, you could say they are being pushed by rising bullion, which is true to some extent, but the Mint State grades are even stronger. I think if we had a decent economy with more disposable income the $10 Indian would be 50 percent higher in relation to bullion levels as it was in the past.

Author:
Harry Miller
Publish date:
Aug 23, 2011

Speaking of Indians, bronze Indian Head cents with the designation of red are up as much as 20 percent over the last several weeks. Always be careful on these. I have seen many changelings over the years, even in the top certification holders. Be smart. Stay with nice red brown or brown coins with a little original gloss to them if you want to collect uncirculated copper. The copper-nickel issues of the Civil War era have shown some nice increases in the EF-40 to MS-60 range. They are still relatively cheap for 150-year-old coins in nice shape.

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Gold coins, especially the big coins, are up again this month. Proof gold Eagles continue on an upward pace, but all indications are that this is simply a bullion push at this time. Proof silver Eagles have actually declined, which has been directly caused by the available supply of the 2011 issue from the Mint. Investment promoters who usually buy the back dates are using the 2011 so the bids have dropped on older issues until the Mint runs out of 2011 coins.

Mint State Mercury dimes are strong. The 1921 issues are increasing in nearly all Mint State grades as is the 1931 Philadelphia issue. Many later date issues that have been dormant for years are on numerous buy lists. Walking Liberty halves are also showing gains in many of the just slightly common issues of 1941 to 1947. This is a good sign for the overall market as Mercury dimes, Lincoln cents and Walking Liberty halves are popular second tier collector coins. First tier are easier modern issues.

Early Walkers are almost always in constant demand in all grades above F-12 and especially in Mint State. Several issues are very problematic as to strike weakness and therefore difficult to grade. Some are almost non-existent well struck and most collectors eventually come to that realization, or pay a huge premium for the rare good strike. Cleaning is also a big factor in this series as many slider coins are often treated to appear choice so know your source or buy certified only. The 1921 issues are especially noted for overgrading and the S-mint issue is difficult because of strike issues.