As of right now, over 60 massive container ships are floating off the California coast waiting to dock and unload their cargo of thousands of shipping containers. A lack of dockworkers and ground transportation is said to be holding things up. The number of containers is so large it’s estimated many won’t disembark until mid-2022. Given the immense amount of goods the US imports from the Pacific Rim, that doesn’t bode well for this Christmas. Store shelves are already scant or empty.
As regular readers know, beginning around this time, I offer holiday gift suggestions for collectors. Being mindful of what is obtainable, I’m doing so again. Included with the good items will be the usual array of a few that aren’t great deals or good investments. With the excitement of the season, buyers can sometimes mistakenly make an expensive mistake....
One case in point is a gift item being sold in a prominent mail-order catalog. It’s a silver money clip. Not many people carry those anymore. Time was, they were common. Before people filled wallets with stacks of credit cards, IDs, club membership cards, family photos and more, a simple money clip did the trick by holding our paper currency needed for everyday commerce.
The style of money clip an individual carried often spoke volumes about the person. Some were plain or perhaps etched with initials. Others were exquisitely engraved. Most were made from brass or silver. Some companies offered them with their logos as advertisements. The most opulent were made of gold, enhanced with diamonds or other gems.
Only a handful of people now carry money clips. With the growing use of Apple Pay and other virtual/digital options, the need to lug around a fat billfold has become less and less necessary. As a consequence, money clips may actually begin to enjoy a renaissance.
Particularly notable about the silver money clip in the gift catalog is that is has a silver dollar mounted in a bezel on the front. There’s nothing more connective than vintage money itself being attached to a money clip. As a bonus, the included silver dollar coin was struck in 1878. That was the inaugural year of the popular Morgan silver dollar series – a favorite among collectors. The dollar on the clip is also reported to be in “uncirculated” condition, a very desirable grade. For the right individual it’s surely a nice gift option. So, is it a good deal?
I spoke to a prominent national coin and jewelry dealer. A nice sterling silver money clip with an attached bezel would contain about $5 worth of silver but cost around $50. He said that’s a fairly standard markup in the jewelry trade. On top of that, the uncirculated 1878-dated silver dollar would currently cost about $60 to $75. For the two items put together figure about $125 (plus tax).
That’s where some concern comes in. In the catalog, the cost for the silver money clip with the uncirculated 1878 silver dollar is $499. Add to that $47 for shipping and sales tax of $51. The total comes to just shy of $600. That’s a serious chunk of change for something that can probably be had for around $125 from a local coin and jewelry dealer.
All of this is not to say such a money clip – or other such item with a numismatic slant – isn’t a good gift idea. It could be great. And, with the current shortage of products due to the shipping backlog, domestic coins could be the ideal option for holiday giving this year.
The key, of course, is to not overpay. For the record, the dealer with whom I spoke said, if someone wanted to sell this item, his shop would pay about $90 for it. Plus, the “Certificate of Authenticity” that comes with the catalog money clip would add no extra value. It’s apparent it’s authentic.
He also had another good point. Any coin attached to something that will be carried in a pocket is sure to quickly receive noticeable wear. So, an “uncirculated” coin will soon become circulated losing appreciable value.
In the end, the key is recognizing the difference between what something is worth and its value. You may value pretty much anything. But it’s actual worth will always depend on what someone else is willing to pay for it.
For more collecting advice, visit www.peterexford.blogspot.com