US Coins

Monday Morning Brief for July 8, 2019: A $364,250 1938-S dime?

The finest certified 1938-S Winged Liberty Head dime graded MS-68+ full bands with a green CAC sticker sold for an astounding $364,250 on June 27.

Images courtesy of Legend Rare Coins.

What does the  news that a 1938-S Winged Liberty Head dime sold for an astonishing $364,250 in a late June auction by Legend mean for the hobby?

This is a common coin, after all, that costs a dollar or two in circulated condition, and $8 or $10 in the lowest Mint State grades. Even in MS-65, the dime might cost around $35, a price that most of you reading this column could afford. 

The coin in Legend’s June 27 Regency 33 auction in Las Vegas is not your typical 1938-S Winged Liberty Head dime. It is graded Mint State 68+ full bands by Professional Coin Grading Service and carries a green Certified Acceptance Corp. sticker. It is a population 1 coin, the only one with the plus and full bands designation. 

Reactions to the price in the collecting community are, as you would expect, varied. 
For some, the result shows the strength of the current market for high-grade, colorfully toned coins that is driven by registry set competition and bragging rights for owning the best. It is further proof that registry set collecting has had a major affect on the upper tier of the marketplace, for good or bad.

For others, the result triggers disbelief and questions as to whether the coin is a good investment at that level. Time will tell. 

Everyone is agreed on one thing, though; the consignor must be happy and deserves congratulations.

No matter where you stand on this market trend, you have to admit — this was a remarkable result.  

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