Key Date

A key date is the date and mint mark combination within a coin series that is scarce relative to the rest of the series, and therefore the issue collectors find hardest to acquire. Slightly less difficult issues are usually called semi-key dates.

Scarcity comes from more than one source. Some issues were produced in limited quantities. Others were produced in normal numbers but largely melted, exported, or worn out, so few survive in collectible condition. An issue can also be a key only in high grade, common enough in worn condition but difficult to find well preserved.

Two areas illustrate the idea for buyers of US gold and silver dollars. Within the Morgan dollar series, coins struck at the Carson City Mint are the most followed group, and the mint mark CC is what identifies them. In pre-1933 US gold, the 1933 recall and the melting that followed left certain dates far scarcer than their original production would suggest, so survival rather than output drives the market.

Because key dates carry the largest premiums in a series, they also attract the most counterfeiting and mint mark alteration. Buying a key date as a certified coin is standard practice for that reason.

If you think you have a key date, Texas Bullion Exchange offers a free appraisal to confirm it.