If you’re a fan of rare coins, you may have heard of the recent sale of a 1970-S Kennedy Half Dollar Proof coin on eBay. This coin sold for an incredible $19,995, which raised some eyebrows in the coin-collecting world. The reason for such a high price? A mix of rare characteristics, including a beautiful rainbow-toned finish. But does the price make sense, or was the buyer too eager? Let’s dive into the details.
The 1970-S Kennedy Half Dollar Proof: A Quick Overview
The 1970-S Kennedy Half Dollar Proof is special for several reasons. It was the final coin of the 40% silver era for Kennedy Half Dollars, which ran from 1965 to 1970. After that, the United States Mint stopped using silver in most of its circulating coins. In total, the U.S. Mint sold around 2.6 million of these 1970-S Proof Sets, and they were originally priced at $5 (which would be about $42 today when adjusted for inflation).
However, the value of a standard 1970-S Kennedy Half Dollar is much lower today. A regular, certified coin of this kind typically sells for under $30, unless it has specific features like a Deep Cameo or Ultra Cameo finish. So, what makes this particular coin worth so much more?
The Power of PCGS Certification
One key factor in the high price is the PCGS certification of the coin. The Professional Coin Grading Service (PCGS) is a trusted authority that grades coins based on their quality. This specific coin was graded as PR67, a solid grade for a Proof coin from this era. The certification was done during the “rattler” holder period, which took place between 1986 and 1989. This means the coin had been professionally graded and stored for decades, which adds value.
However, the coin’s true uniqueness comes from its appearance, particularly the rainbow toning.
Monster Rainbow Toning: What’s So Special?
Rainbow toning is a rare and stunning feature that occurs when the metal in a coin interacts with the air or materials it is stored with over time. This causes the coin to develop vibrant colors like blue, green, yellow, and purple. In the world of coin collecting, this type of toning is highly prized, especially if the toning is “natural” and not artificially created.
The 1970-S Kennedy Half Dollar in question has what’s called “monster rainbow toning,” which means the colors are exceptionally bold and beautiful. Coins with this kind of toning can sell for much higher prices than those without. Collectors are willing to pay a premium for coins with unique and eye-catching appearances. This particular coin’s colorful, rainbow-toned finish makes it stand out from other 1970-S Kennedy Half Dollars.
Is the Price Justified or an Over-Enthusiastic Buyer?
The sale of this coin for nearly $20,000 has sparked some debate. While it is true that rainbow-toned coins can fetch higher prices, no other 1970-S Kennedy Half Dollar has ever sold for such a high amount. The previous record was about $805 for a similar coin in 2008, so this sale broke that record by a huge margin.
Was the buyer too eager to pay such a high price? It’s hard to say. The seller didn’t appear to overprice their coin, and they likely believed the coin’s unique appearance justified the price. They even called it a “unicorn” coin, a term used to describe extremely rare and unique items. The high price could also be the result of a buyer who was particularly excited to own such a rare coin.
However, time will tell whether the buyer will regret their purchase. Since the sale was made through eBay, it will soon drop off from public view. Whether or not this coin turns out to be a wise investment remains to be seen.
Conclusion
The sale of the 1970-S Kennedy Half Dollar Proof with rainbow toning for nearly $20,000 is a fascinating example of how the coin market works. While this price is much higher than most people would expect for a coin of this type, its unique appearance and the PCGS certification played a big role in driving the price up. This coin’s rainbow toning made it stand out as a one-of-a-kind piece, but only time will tell if the buyer made a good investment or was simply swept up in the excitement of owning such a rare item. Either way, it’s a reminder of how much the world of coin collecting can surprise us.
FOR MORE COINS VISIT-City Well Being Centre