Barbers Are Hot Again!

David Lawrence - May 8, 1998
 

Collectors Challenged by the Number of Scarce Dates

By David Lawrence

Over the years I have written several articles for the CDN Monthly Supplement about Barber coinage, my favorite series. First, I would like to offer some background about this highly collectible series.

The obverse design associated with the Dime, Quarter and Half Dollar is virtually the same for each denomination. For the most part, Barber coinage was designed by the chief engraver of the Mint, Charles E. Barber. However, the obverse portrait was very similar to the Morgan Dollar design of George T. Morgan in 1878. Barber's initial "B" appears on the obverse portrait of Miss Liberty located on the truncation of her neck. The Dime has "UNITED STATES OF AMERICA" circling the rim with the date located at the 6:00 position. Barber Dimes were struck by the Philadelphia, New Orleans and San Francisco Mint from 1892 through 1916. The Dime has a composition of .900 Silver and .100 Copper. That equates to a net weight of .07234 ounces of pure Silver. Its diameter is 17.9 mm and it has a Reeded Edge. This series was struck in Proof along with the regular issue Business Strikes. The reverse design is different from the Quarter and the Half Dollar. Actually, it is nearly the same reverse that first appeared in 1860 on the Liberty Seated Dimes. Known as the "Cereal Wreath,"

TRULY SCARCE DATES
DATETOTAL #
MINT STATE
MS64
BID
MS65
BID
COMMENTS
Barber Dimes
1894-O3531006700Rare in High Grade.
1895-O3363009500Often resubmited and Always brings a premium.
1896-O2932505400Undervalued.
1897-S4218002850A sleeper.
1898-O4520002700Nice coins bring much more.
1898-S3719003150Comes nice but undervalued.
1899-O4225004000. . .
1901-S4519003500A favorite date.
1902-S4315002400Way too cheap.
Barber Quarters
1896-O3929506750Underrated.
1896-S31760013000Rare in MS-64 and above. Many resubmissions.
1897-O4315503000Undervalued.
1898-S3327504350Much scarcer than thought.
1899-S4312502800Comes nice. Undervalued in MS-64 and below.
1901-O4027004500Scarce in MS-65 and above. Often Resubmited.
1901-S311950032000Rare. Many resubmissions. Nice coins bring strong premiums. Always in demand.
Barber Halves
1892-O Micro O2N/AN/AWow! Talk about rare.
1893-S42280012000Good buy in MS-64 and below.
1896-O23510010000Rare. Worth more.
1897-O4528003700Some gems were saved.
1898-O3937506800Everyone’s favorite.
1898-S4535006400Shipped to Philippines; Dimes, Quarters also scarce.
1900-O39365011750Possibly overrated in MS-65.
1900-S4321508000Often overlooked.
1901-O40410011400Many resubmissions.
1901-S25490010500As scarce as the Quarter in Mint State but much cheaper.
1902-S3826503800Gems exist, but lower grades are rare.
1904-S21575014000The true King of regular issue Barbers. Worth much more. Try to buy one at auction!
1907-S4143009000Not a secret anymore.


KEY DATES
DatesTotal # Mint StateMS65 BidsMS64 Bids
1877 Indian Head Cent2793,4505,300
1916 Standing Liberty Quarter3866,8009,750
1921-S Walking Liberty Half11717,000 38,500



CDN Bids - Percentage Increases Since January 2, 1998
Barber Type
MS63
MS64
MS65
PR63
PR64
PR65
DimeN/C9.09%20.45%N/C1.22%9.09%
Quarter 5.71%14.52%19.63%1.22%4.55%18.00%
Half DollarN/C6.85%8.75%2.86%3.00%14.29%
a reduction of James Barton Longacre's 1859 pattern Half Dollar, it sports a wreath containing corn, wheat, maple an oak leaves. The Mint mark can be found on the reverse at the bottom in the 6:00 position.

Like the Dime, Charles E. Barber designed the Quarter and the Half Dollar. His initial B appears as it does on the Dime for both denominations. "In God We Trust" appears around the rim at the top of the Quarter and the Half Dollar. There are 13 Stars that circle the obverse portrait. The reverse has a Heraldic Eagle holding an olive branch representing peace in one claw and some warlike arrows in the other. The reverse is an adaptation of designer and engraver Robert Scot's work taken from the "Great Seal of the United States."

Back in 1990 Barbers were hot! I provided wholesale values for each date of the Dimes, Quarters and Halves in MS64 grade. I subsequently analyzed each date of the Barber Quarters and Half Dollars in May 1990. Now, with the coin market strong, it's time to look at these great coins again.

The first thing that stands out when you look at the Barbers is the number of truly scarce coins, many of which seem grossly undervalued in the marketplace. The second is the number of "fairly common" Philadelphia Mints that are surprisingly tough to find. But, they are priced just a little over the few dates that are available. And third is that if you remove a very few dates in each series all the rest are not so abundant either.

The table shows some of my favorites in each category. Note that the population report and census data are based on the combined total from the March 1998 Professional Coin Grading Service Population Report and the January 1998 Numismatic Guaranty Corporation of America Census Report:

Some notes about the table on page 1; two coins that were left out are the 1893/2 and 1894-S Dimes. The former is a hard-to-see variety and the later generally considered a proof only issue. Also, many Barber collectors will be quick to note that many of their favorite dates may not be included in this study. The criterion used was a total Mint State population of 45 or fewer. Some dates, notably the 1913-S Quarter (and 1913-S Dime) are in great demand because of their relatively low mintages. Though they may have fairly high, original populations, strong demand is why they always bring strong premiums.

Compare the Barber coin Mint State populations with three, popular key date coins. The 1877 is a key date of the Indian Head Cent series from 1859-1909. The 1916 is a key date of the Standing Liberty Quarter series from 1916-1930. Finally, the 1921-S Walking Liberty Half Dollar is a key date of that series that spans from 1916-1947. This should help you determine the comparative value of selected Barber rarities.

Philadelphia Mint Barbers (no Mint mark) that are never around when you want them, are those found in the middle of the series; 1900 - 1905. The early and later years were saved but the middle of the series was usually overlooked. This is true of all three denominations. It is not unusual for a collector to neglect these dates. Collectors may become surprised and somewhat frustrated as their collection nears completion. That is because there will probably be a few Philadelphia Mint holes to still fill.

Last, many of the Barbers that sell as Type coins are far tougher to find in the most common dates in their respective series. The prime example of this is the 1916-D Quarter. This issue is overwhelmingly the most common date in the Quarter series. Yet, it sells in all Mint State grades at the same price as other far tougher issues such at the 1906-P, 1907-P, 1912-P and even 1902-P! Give me these later dates any time.

All three Barber series are wonderfully complex and full of nuances. The tables, charts, and discussion can only begin to touch the surface. Collectors who enter this realm find much more enjoyment than they bargained for, not to mention great values. Compare the prices and populations listed in the tables to any of the more modern series and you too are likely to become a Barber enthusiast.

David Lawrence is a partner, with his son John, in David Lawrence Rare Coins of Virginia Beach, Va. He has written three books on this subject.

This article originally appeared in the April 1998 issue of Coin Dealer Newsletter, Monthly Supplement. © 1998 CDN Inc., CDN Publications, PO Box 7939, Torrance, CA 90504.






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