It’s official. Christmas has arrived– at least from a marketing perspective. Years ago, you knew that when a TV commercial for Norelco showed Santa sledding down a hill on one of that company’s electric razors. These days, it’s clear the Yuletide is here with the TV ad featuring Hershey’s Kisses dancing to Yuletide song, “Carol of the Bells.”
Those memories may also remind people of Christmas’ past and the toys that accompanied them. Several decades ago, a mad rush ensued when adults clamored to purchase a toy called, “Tickle Me Elmo.” It was plush doll based on the show Sesame Street. It vibrated violently when turned on. Careful marketing combined with a true scarcity led people to pay upwards of $1,000 apiece for them. (I was lucky enough to buy one in a store and sell it for that amount on a local radio show for charity.) Today, that same “mint-in-box” Elmo sells for a mere $40....
Before that, Beanie Babies were the rage. Grandparents couldn’t buy enough of them for their grandchildren. Alleged “rare” ones were coveted and traded for big bucks. The paper tags on them were key. With a tag one might sell for hundreds of dollars. Without a tag…a few bucks.
To this day, some claim a “rare” 1997 Princess Diana commemorative Beanie Baby is worth around half a million dollars. (Whoever professes that value probably resides in a state where marijuana is legal.). The truth is, though certain Beanie Babies may be listed on eBay for tens or even hundreds of thousands of dollars, that’s not what they sell for. Mostly, they go for $10 to $20.
In the case of proven collectibles, some actually do sell for way more than they did 25 years ago. For example, a recent major auction of collectible US postage stamps included some issued during Chicago’s 1892 Columbian Exposition. The “Columbian” series has been considered some of the best designed stamps ever created. They bring a nice price too. One of them – the 50-cent version – has a catalog value of $175 in used condition. It climbs to $450 if mint/unused.
Several decades ago, though collectors appreciated well-centered stamps, there wasn’t much of a science to see how nicely centered they were. Now, there is a scale of 1 to 100. In the recent sale, one of the fabulously centered unused 50-cent Columbian stamps went for $1,600 – almost four times its catalog value. More incredibly, a beautifully centered used example sold for even more – $1,900 or over 10 times its catalog value.
The key to it all is knowing what you have and what the market will bear. Of course, that changes from sale to sale and auction to auction.
For coins, one of the best and most consistent price and identification guides is the iconic “Guide Book of United States Coins” otherwise known as The Red Book. Now, in its 73rd edition, it has become the “bible” of US numismatics.
Produced by Whitman Publishing, the Red Book includes virtually every coin produced in the US between 1793 and 2021. In truth, many listed coins date even further back to the mid-1500s. Those include Spanish-American rarities, French and British silver that circulated in the earliest colonies as well as super-rare Massachusetts/New England coins minted by the earliest settlers. So too for a select grouping of colonial coins minted from the 1720s to the 1780s.
Also, in the early coin category are listings for classic copper half- and large-cent pieces. Few realize copper was once a key metal in coinage. Thick copper half cents were the size of a quarter and an equally thick large-cent approached the diameter of a modern half dollar. It was the era when a cent truly could purchase quite a bit.
Naturally, silver dollars and all gold coins are chronicled, as are privately issued coins and tokens. Of key interest is a chapter on Miss-Strike and Error coins that have substantial value and are still discovered in change.
In over 460-pages filled with color photos is information about most any US coin, commemorative coin or coin set one may run across. At $17.95 it could prove to be a great holiday gift. The Red Book can be found at most major booksellers, many hobby shops and every coin dealer. It’s also available online at www.Whitman.com.
For more collecting advice, visit www.peterexford.blogspot.com