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Do some people only collect in low grades?
UrbanDecay04
Posts: 907 ✭✭✭✭
I've noticed on the BST forum, people seem to try and buy in low grades, so my question is, "Do some people only collect in low grades no matter the date (modern or classic)?"
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Yes. Lowball sets are for the lowest grades possible and everyman sets are circulated only sets (Up to AU-58+).
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
It is called Low Ball collecting.
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?
People collect low grades when:
A. They can't afford better grades
or
B. For lowball sets (PO-01 graded coins), "niche collecting"
My eBay page: https://www.ebay.com/usr/alvareznumismatics
I love utilitarian artifacts that served their purpose. From cars to posters even old houses. Used coins help my imagination time travel which if you boil it down is the reason I love the hobby. Not that I can’t appreciate a survivor but for the most part I avoid UNCs
Cheaper too
11.5$ Southern Dollars, The little “Big Easy” set
Whether I buy uncirculated or circulated depends on the price.
For instance, when I bought my 1916 D Mercury Dime, I bought a G04. Even if I could afford an uncirculated 1916 D Merc, I would not spend that much money on a coin.
However, if I am buying Washington Quarters for instance, I would buy nice PCGS MS63 to MS66 coins. They are/were quite affordable. I bought a whole bunch of them many years ago. Don't need any more.
This is just a hobby for me. I am quite picky, and selective whether I buy uncirculated or circulated. I like a nice circulated, problem free coin, as well as a beautiful MS coin. I collect both.
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I resemble that remark . . . . . .
Yup, some of us are "bottom feeders" . . . . . .
I am more of the "Everyman" collector. I go after the AU-58+ examples while everyone else chases the "Top Pop" . . . . .
Z
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?
this one is graded PO-01
That one has been around the block a few times. I like it, now many hands that rubbed it for good luck I wonder.
It's not always just the money that might steer you towards lower graded coins. I really like Bust coinage with a circulated cameo look to it (like this Bust Quarter below). Often, this look comes on coins that grade in the VG to F range and I can honestly say I prefer a perfect F with this look over a higher graded without this look. In some cases putting together a lower graded set with a matching look is even harder than putting together a higher graded set (with the added bonus that it absolutely is cheaper
)
Yes, kids, people who just want to fill the album holes. When I was a kid, ag Indian head cents, V nickels, buffalo nickels, and Lincoln cents, were plenty good enough for my childhood budget.
1787 Fugio Cent - PCGS PO01 - Ex. Brent Pogue
Brent Pogue had an amazing low ball type set. I was lucky to pick one up.
1837 Feuchtwanger Cent - German Silver - Reeded Edge - PCGS PO01 POP 0/1/663 - Ex. Bill Fivaz
I've always wanted a Dr. Feuchtwanger Cent and now I have one!
1924 Huguenot-Walloon Tercentenary - PCGS PO01 POP 0/4/4,581 - Ex. Bill Fivaz
Yes, classic commems did circulate!
I have a certain look that I like. Circulated, something that lived a real coin life, but not abused. The fact that it's cheaper to buy is a happy accident.
That's not to say I won't get an occasional mint condition example...
And most of my modern stuff is pretty much mint fresh.. although I have been known to save State Quarters that show a high degree of wear.
These are all scans, they do look nicer in real life. But I like the uniformity of scanning my collection.
I think that low grade coins that are otherwise problem free are very cool.
Do the major grading services need to be able to identify the date and mintmark before they slab a low grade coin?
Worry is the interest you pay on a debt you may not owe.
Do some people only collect in low grades?
Depending on your definition of low grade, I would answer 'NO'. I think everyone who collects low grade coins, Poor and Fair grade, also have higher grade coins in their collection.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
Many collectors focus on lower grade coins... some for cost, some because the wear appeals to them - signifying use and history. Personally, the super worn coins do not appeal to me. I do like the circulated cameo look, and respect coins with honest wear from commerce, as long as good detail remains. Cheers, RickO
Low ball collecting ... not my thing at all.
The trouble with many of these items is that they were pocket pieces, not coins that really circulated to get all of that wear. It's very tough to find an item that got worn down to a Poor-1 from circulation that did not sustain other damage.
Nice high grade coin
This is where there’s may be a disconnect. For lowballers, these are high quality. The half isn’t even that rare as it as a pop of 4! I just think the honest wear looks awesome. Appreciating the look of a lowball is a bit like appreciating the look of a toner. It’s in the eye of the beholder.
I collect lowball US gold. It’s not my main focus, but it’s a fun rabbit hole to occasionally go down.
Certified lowball gold is very difficult to locate, which adds to the intrigue. I could buy 100 MS65 Saints today, if I wanted to. Try to locate 100 VG Saints today.
Dave
Collecting low grade coins can be very exciting for some and mean nothing to others. IMO.
Agreed. I collect almost exclusively XF and below classic silver coins and it's not because I cannot afford better grades as stated in another post. Circulated coins just interest me more. To each their own.
It's a fun hobby for me so I collect what I like, what appeals to me at the time. My "collection" varies from MS67's down to "You actually paid money for that"!??!
The great thing about coins is someone out there is getting enjoyment out of finding a worn-out Wheat penny in their change today while another is upgrading a rare coin to an even more rare coin. Both are enjoying the hobby equally and the rest is semantics.
I have on my desk the most gosh awful 165 year old crud packed penny I have ever seen! I have never cleaned a coin, but I bought this with the intention of trying to clean it without making it look like it was heavily cleaned. It's a ten dollar coin at best and after I figure out the best way to start cleaning it, I know in the end it will still be worth at least a penny and maybe even ten dollars. Don't do this with any Proof $20 gold pieces that you have lying around. Meanwhile enjoy the hobby, it's for you to enjoy.
"When the roosters are crowing, and the cows are spinning in the pasture. Ducks fly together!"
Ahhh, the good old days when nearly NO ONE collected LowBall coins. The vast horizon of opportunity at large coin shows to find these beauties, pennies on the dollar. No one cared! These were coins others mocked and ridiculed! I don't know if I am happy or sad to see the popularity of LowBall coins thrive.
peacockcoins
Most collectors like to upgrade. I knew a collector (1980's) who would down grade whenever he found a coin in a lower grade, he would just sell the higher grade example and keep the lower grade coin.
I don't know why anyone would collect any clad coin, but people do.
I enjoy collecting in a range of grades, but not P1 pocket pieces. This is an AG3 half dollar that served a full tour of duty in commerce:
Point was, people collect what is of interest to them. No right or wrong.
I myself don't understand collecting coins only in low grades, as most are easy to find and afford in medium to reasonably high grades. Coins in ultra high grades, one mustn't touch and are very relatively expensive. Coins in ultra low grades are novelties, sure, and I have a few, but one of the main pleasures of coin collecting for me is being able to handle and use a loupe to closely examine mid-grade historical coins with interesting surfaces. At the moment I'm looking at some old half dollars.
Liberty: Parent of Science & Industry
I remember your posts early on. I wonder if you were the inspiration for Brent Pogue's lowball type set?
Some classic coins are still easily found raw.
What diagnostics does that have that says it’s not an AG3 pocket piece to you? How do you make the distinction between an AG3 pocket piece and AG3 circulation wear?
And what diagnostics do my coins above, say my Fugio Cent, that makes you think it didn't circulate?
@BillJones said "The trouble with many of these items is that they were pocket pieces, not coins that really circulated to get all of that wear. It's very tough to find an item that got worn down to a Poor-1 from circulation that did not sustain other damage."
I agree with the above comment, and whether a coin was a pocket piece depends on if it had circulation marks, or if it was entirely smooth from pocket wear with no other coins, keys, knives, etc. The 1795 that I posted has many small circulation marks, no doubt at times carried in a pocket but with other objects that created marks. The posted Fugio has marks, and I have seen early copper worn to P1 that are similar. Some of the other 20th century coins posted appear to be like the pocket pieces that BillJones described .
Here is another AG3 from my collection that has a number of small circulation marks, but none that are distracting or would be considered damage. Both of my 1795's viewed with a loupe reveal varying sizes of circulation marks, scratches, and digs.
Sometimes dealers describe coins with "honest wear" an interesting but nebulous description. So does a coin with intentional pocket wear to get to a P1 lowball have dishonest wear?
Seeing pics of midgrade raw coins gives me the same feeling I had when I collected as a kid. (Although I wasn't collecting Bust and SL halves in 4th grade.) I don't know if this will make sense, but as a collector now with more income, I feel almost an obligation to buy the highest grade I can afford. It can be a source of stress and anxiety. Did I buy a nice enough one, or should I have splurged for the next grade up? Can I show off my coin on the forums, or is it not up to par?
Sometimes I think about collecting lower grade coins and just enjoying the hobby for myself again like a kid.
If so, a coin with intentional pocket wear to get to an AG3 lowball would also have dishonest wear
You seem to make a distinction with P1s but lowball collectors collect multiple grades including AG3s and much higher.
The top ranked Low Ball Registry Set has 9 coins at AG3 and grades as high as F15.
https://www.pcgs.com/setregistry/low-ball-sets/low-ball-type-sets/complete-u-s-type-set-low-ball-1792-1964/alltimeset/32379
Here are a couple of low grades NOBODY would want:
peacockcoins
If you can think of it, it's probably being collected. There are guys that only collect PO01 slabbed coins..... As you can see from the above examples.
You are not a NOBODY! You are a SOMEBODY!