Encased Collectors International

~ I will say about $3.00 That not saying a person will get $3 for an encasement, but I feel that is a fair price. ( Example Rexall encasements are very common. but a person has to start somewhere with pricing.)

~ In order to answer these questions it is important to know what the position of the person giving the answers is in. Personally, I am against pricing of ALL coins and tokens and firmly believe in a RARITY system. Price guides date themselves too quickly (in both directions) and I believe a dedicated collector will understand rarity scales better than a price guide in the end. Education is the key.

Even the most common civil war token and merchant token seems to command a base price of $10 today. Having said that there is an encased in Canada the Pioneer Doon piece that can be had for 50c if you look long enough. This piece in my opinion definitely one of our most common.

~ Common pieces like most Fankhauser, Rexall, most Las Vegas casinos, and Storks Club are very common just to name a few. They are offered all the time on eBay. Non-problem pieces should be within the $3.-$4. range, even in new like condition. One problem with common pieces auctioned on eBay is that once the s&h is tacked on the winning bid of the piece, the final dollars spent far exceeds its value.

~ It is just like collecting coins, the supply and demand. If people do not want to collect a particular piece they just won't sell. If you are looking for a date, I would say most pieces before WW II, would be a starting point for NOT Common.

~ Other than observation of what gets offered for sale I am not sure. There are no population figures on encased that I know of in the Indian Cents but I can sure spot one I have never seen in the last 7 years of buying these things.

~ Date manufactured, shape of encasement, advertisement and of course the desire to have that particular piece. (the human factor)

~ If total production figures are known and they are below 1,000. then the piece begins to become RARER. Also, when most collectors do NOT have a certain piece, it should be considered RARER.

~ I think #2-6 are better answered by another question:
How much does collector interest affect value?
And the answer is: Greatly.
Different states will bring different prices, as most collectors are state collectors. I only collect IL, and generally will only bid on an item I need. With only a very few bidders on any one piece, WHO bids makes a huge difference in price. If I bid $125, the under bidder bids $120 and the 3rd bidder is at $50, it will sell for my bid of $125. However, if the exact same piece comes up for sale the next week, AND bidder #2 & #3 also bid the same amount (which is doubtful, as they probably think it is not as rare as they thought when bidding the first time), it will sell for one increment over the (now) second bid of $50, resulting in a HUGE difference in price. If I forget to look at listings (often) and miss something, it is the same result, a huge difference in price.

Encased coins, like most exonumia, is NOT widely collected, and the price range can be giant, depending on who is bidding that day. There are dealers who will bid on better items for 'stock', which prevents items from selling for only a few bucks, but they want to make a profit, too.

I don't think you can come up with a formula for pricing that can answer #2-6. Items that are common to me often bring 10 times what I'd sell them for, retail, if asked. I have perhaps 1000+ duplicate IL and non-IL encased coins in my dealer stock, and other dealers have quantities, too. I give a number of factors consideration in pricing my stock, but it is impossible to figure out 'retail' to everyone. There are certain towns I will pay giant prices for, but once I have that piece, I have no interest in another. I'm advanced in my collecting, with about 900 different IL tokens. But I still find lots on eBay I've never seen before! I won't pay big prices for post-1940 pieces, as they show up enough not to be all that rare, and sooner or later, I'll get one.

~ A true collector can answer this best when faced with the question of”… how often have I run across this item”? Again a price guide will not supply this knowledge.

~ Rarity can be determined when the piece is missing from the great majority of collections. Teddy Bears appear to be at the top of the list. There are several other odd shaped pieces that may be considered rarer. I would say that most encased struck between 1901 and 1940 are in the low mid range of rarity. Most all pieces struck after 1945 are fairly easy to locate given time and patience.

3- How much consideration should the condition of a piece be given, (pocket worn vs new like and in between)?

~ I look at encasements like tokens, some can be very limited regardless of condition, and there can be a hoard of encasements (Example: Rexall, Dr. Drake's) A person has to know some what the history of the encasement. Example: Guarantee Clothing Co/ Lincoln, NE comes with a BU 1935 & 1963. The 1935 is just as common as the later date. The 1935 is like the 1950-D nickel, it is hard to fine in circulated condition.

~ I have found that condition has a lot to do with end price and from a money standpoint, like coins, the better the grade the better the price realized.

~ A new looking coin is a great find, but the rarity of the coin over rides a lot of wear. But as always a clean, unworn coin is proffered.

~ Not as much as with "coins". We all prefer pristine examples, but I will go after encased that aren't worn down to the nub.

~ You have to take in consideration the condition of the coin as well as the condition of the casement alone. If both are AU/BU, then the price is higher. If both are only Fine or less, then the price is lower. The judgment gets harder when the coin is BU, but the casement is scratched or corroded OR when the casement is BU and the coin is a "dog.

~ I think condition is a factor to a degree. If you find a piece you have never encountered before are you going to leave it behind because it is beat up? I know I haven’t. Again, rarity has a big say in this. If we are talking a more common piece than you can let you pocket book be your guide.

~ Few encased are common; rarity can increase value considerably. Popularity is also important. Any teddy bear brings strong prices.

~ New like condition of any collectible brings top dollar within its category. Modern high grade encased will not have much of premium over a more worn piece. In older pieces, such as those encasing Indian Head cents, the price difference is and should be substantial. However, one must be aware of AU/BU non-original cents being placed in the casements to bring that high dollar. It happens all the time on eBay.

~ ."rarity" determine value regardless of condition? My answer is pretty much the same as No. 3

~ Rarity and Value are about the same. Each one will cause the value of the encasement to increase.

~ Rarity and the amount of people that want the item determines value almost every time.

~ Rarity is always a plus for me, the common coin can always be found sooner or later. The rare coin is the coin you need to buy Now! as you may not see it again. I think if my collection is going to sell for profit, I need the rare type coins the better condition is proffered but I still buy the rough coins.

~ As always, rarity depends on demand. With few encased coins available, some collectors may have to settle for a less desirable coin. However, they may still pay over and above other more common coins.

~ "Rarity" IF it can be determined, should be a significant factor in determining price regardless of condition. An encased coin with a total mintage of only 100 is RARE regardless of condition.

~ Extremely rare pieces set their own value depending on the desire of the buyer and competition for the piece. As long as it is a non-problem piece, condition may not have much influence on the final price realized.

~ Value for a replacement coin? I think a replacement coin greatly reduces the value.

~ I buy the coins knowing the coin is replaced depending on what the style and advertisement is. I don't pay top dollar for the coin yet I will pay a premium for rare and hard to find coins with replacements.

~ Determine by condition of the coin, the encasement and the joint between them.

~ No dollar value! Any value it may possess would only be for historical or reference purposes. The question is, would a buyer pay a premium over face value for a 1928 silver dollar with a cent sized hole in it's center. The answer is, " no." An encased coin only has value when it is in the original configuration as struck, same goes for the silver dollar.

~ This a tuff answer, I will take a guess at maybe 10-20% of a good piece at the most.

~ No determination. There is no dollar value. It seems to me that value is only attached to such pieces by those who happen to own them. No one wants to admit they paid good money for something that is probably worthless.

~ Yes, I know of a one Nebraska piece, where just the aluminum ring is known, but no others have been found with a cent. Value - probably like a replacement coin, very minimal.

~ Yes, if I see a bear, loaf of bread, police badge without the penny, I will still pay top dollar for the piece for the rarity.

~ A casement alone has some value IF "rarity" can be determined...otherwise, very little value.

~ Only each individual can answer that. If the casement was unknown to me (in my years of collecting) I would pay much more than if it was known and deemed more common.

~ I don't think mild cleaning affect value, a person wants to take any lose dirt and grime off the piece. Some mild cleaning probably increases the value on some pieces.

~ Not as much as in coins. But there will always be picky collectors. The thing about encased is that it is harder to tell if they have been mildly cleaned.

~ I don't mind mild cleaning as long as the original Patina is not disturbed. I don't want to see polishing marks or surface scratches where someone polished a rough spot.

~ Mild cleaning is in the eyes of the beholder ! A soap and water treatment to get rid of surface dirt is much preferred over the use of harsh metal cleaners or highly polished coins/casements

~ A little soap and water won't hurt to remove loose dirt and grim as long as it does changes the overall appearance of the piece by giving it an untrue coloration. A piece polished is worthless.

9- In your opinion, should collecting encased coins be considered an investment with sights being set on future gains (in comparison to keeping collector coins)?

~ I do not look at encasements as an investment, and do not recommend it, I do the same for coins. I tell people I collect for the enjoyment, but do know there is a value to the collection. I am not planning my future on the value of my collection.

~ There are investors and collectors and never their twain shall meet. I believe that if you start worrying about the investment value of your collection you have ruined it as a collector.

~ That is my hope and aim in this venture. The thing is, that higher prices it will interest a lot more people in the investment aspect. There is nothing I know of that inflames interest better than rising prices and with eBay open to all comers it is a great forum for advertising, and prices realized. If you buy something privately only you and the seller see the price. That is what I like about the bidding game whether I get the piece or not I know that there is at least one other willing to pay close to what I did or pay more than I am willing to.

~ I look at my collection as a future gain, but their are only a few people out there that will spend money on a large collection of encased coins. I think my Grandchildren may benefit more than I will.

~ It is my firm belief that numismatic items should never be purchased with an “investment” motivation. Rather, items should be purchased because you like them, think they are reasonably priced based on your hobby means, and would like to possess the piece. That way, you can enjoy the piece for however long it is in your possession. When it passes into the hands of another individual, if purchased intelligently and competitively, the item will provide a measure of recovery of your purchase price. That recovery may be equivalent to, more than, or somewhat less than your original purchase price. And, you should end up being happy with the result.

~ Collecting encased coins can be considered an investment to those who intend to resell them on eBay or at coin shows. Many exonumia dealers carry encased coins that seem to sell well ! (Just ask me,,,,I'm one of their customers ) For those of us who collect them just for their beauty and historical value, they really aren't an investment in the true sense.

~ No. Most won't increase in value as much as inflation or alternate investments.

~ NEVER; unless you are a dealer who buys below current market value. The collecting of encased has a very small following in comparison to the collecting of mint issued coins. Most serious long term collectors (10 years+) have about all the common pieces available. If looking at the member's roster of ECI is any indication, there are not that many of us out there. Even if we doubled that figure by five times, there still are too few of us to make a major market for the resell of encased coin in the future. Current prices of all collectible coins outstrip the resources of most young people, hindering them from entering the coin collecting hobby in a major way. If I correctly recall the last survey of ECI members, the average age is about 60 years. If that bears true for the great majority of encased collectors, who is there to sell to? And when we finally meet our Maker within a few years of each other, these collections will flood the market, possibly taking the current prices even lower. I dare say the same scenario may very well hold true for mainstream coin collecting as well. It is a great hobby that won't make me rich.

Well you have read what some members think. Do you want to add your two-cents worth? Be our quest. Drop us a line HERE and we'll print them in the next newsletter.

We want to thank those who took time from their busy lives to to participate. Tom Caster, Pete Smith, Todd Lammers, Chuck Berger, Tom Cain, Jr., Steve Drake, Corey Downey, Cliff Mishler, Kevin Grant, Scott Douglas, Rich Hartzog & Ray Lockwood.