The Coins Left Behind - by Jeff Garrett - Will you collect them?
Zoins
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With the [insane prices] of many coins recently, not all have been helped.
Jeff Garrett lists some areas that can use some love.
Why do you think these areas are overlooked, are you buying these, and if not, why not?
Overlooked areas:
- Colonial coinage
- Massachusetts Silver
- Proof Three-Cent Nickels
- Proof Shield Nickels
- Proof Liberty Nickels
- Proof Seated Liberty
- Proof Barber Proof
- Silver Commemoratives
- Gold Commemoratives
- Proof gold coins, excepting Double Eagles
- Generic gold coins.
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No, but I’d like to own a proof SLH some day.
Why not? Low interest in nickel metal, focus on silver type collecting.
"Got a flaming heart, can't get my fill"
No I'm not buying any of those. Gold price is too high for me to buy generic gold. Barber coins are a boring design to me. Colonials and Massachusetts silver I might venture into someday, but I would need to study up on them a LOT. As for all the other proof examples you listed, maybe if the right coin with the right look came along at the right price.
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Proofs in general have been lackluster in recent years. This may change if eye appeal importance continues to increase over survivor pop importance.
Aercus Numismatics - Certified coins for sale
That's interesting....
Modern proof errors seem to be going through the roof:
https://forums.collectors.com/discussion/1062429/ana-worlds-fair-of-money-mint-error-show-report-2021#latest
For sure, but I think that's more a consequence of their error status than proof status (many spectacular errors have been increasing in price). Since the proof process has more quality checks than business strikes, it makes sense that proof errors would be sought after.
Edit: I should also clarify that my previous statement applies mostly to proof coins of classic series, like seated and barber proofs. This is where the majority of my experience is. Gold proofs are a bit different as well.
Aercus Numismatics - Certified coins for sale
Zions- you are correct when you said:
“ Modern proof errors seem to be going through the roof”.
Especially in the Heritage Auctions recently. Dramatic and high grade proof mint errors are bringing very strong prices!
Good thoughts @Aercus and @Byers .
There seems to be a movement away from many classic proofs. I wonder if they are the same people moving into modern proof errors?
For people who like proofs, the modern errors tend to be more rare than the classic non-errors.
I don’t think generic gold is being overlooked, especially these days.
TurtleCat Gold Dollars
I agree with the concept. My collecting philosophy has been to look at this areas to minimize downside risk.
The two areas I am in:
Generic gold - been involved in this area for awhile - I don’t believe that they have been left behind, as the prices seem to have gone up…that said , there are still some deals to be had if you are patient.
Gold commemoratives - never liked them before, but as generic gold has gone up some, I have been finding some commemoratives at what I feel are good prices.
Perhaps a better way of saying what I find in this two fields is: prices are going up, but in these two areas, a reasonable number of coins fall through the cracks and can be found at very fair prices…I don’t think that can be said with many of the other areas.
I have proof gold coins and I stack generic gold coins... So, I am doing my part for the 'coins left behind'...
Cheers, RickO
I would disagree with the thought that generic gold has been left behind, those have seen a large rise in prices due to the run up in PM prices. When I put together my $2.50 gold Indians in AU I was paying $150-$170 for most, now those are selling for what $400ish, not what I would call left behind. As for the list I am not buying anything on it, gold is too expensive and other than colonial copper nothing on that list is of interest to me.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Generic gold hasn't been left behind, as it were. It's just riding the PM train rather than the numismatic one.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I have read Garrett's articles on Coin Week. He seems to live in a different universe from the majority of collectors. I have not read this one (yet) but he has expressed similar sentiments, regularly.
I would like to ask him this question. Where do you expect collectors to get the money and if they already have it, why would they have the incentive to pay the prices he thinks these coins should be worth?
1, 2, 10 and many from generic gold (11) are already expensive and far beyond reach of most collectors.
To my knowledge, the non-gold proofs in his list are either 1) predominantly bought as type coins or impulse purchases where the buyer only wants one. There aren't very many who buy proofs as a series. Or 2) The coin's eye appeal is either not particularly attractive and where it is, not cheap now.
Collectors predominantly buy classic silver commemoratives they like and ignore the rest. It's also got a terrible multi-decade price track record but even if it didn't, it's my inference it's losing out to world (NCLT).
Most classic gold commemoratives are already expensive for the supply.
No
Experience the World through Numismatics...it's more than you can imagine.
Don't fall into the trap of thinking "overlooked" areas of collecting are going to go double nuclear. The sun may burn out before that happens.
Does "overlooked" really exist in this realm? While the sun may burn out before that happens, I suspect the the numismatic eyes of civilization had first rights so this is likely DOA but don't tell Edmond O'Brien
Experience the World through Numismatics...it's more than you can imagine.
The current market answers your question---there seem to be many collectors with money and recent auction results show they have the incentive to pay the price.
As for Jeff, I listen and read carefully anything he says or writes. He has been involved at every level of numismatics for decades. He probably sees more coins in a day then I see in a year.
When it comes to early proofs, I too would need to to do some extended researching to gain some much needed knowledge.
Maybe this winter, I will start that project.
Wayne
Kennedys are my quest...
I've never had an interest in proof coins and for the most part nothing that wasn't minted for circulation. If I see a design I really like I might dabble but I'm not much into commeratives.
I like proof Seated Liberty coins and I'd have some if I could afford some beautifully toned ones. And I'd love some Matte-Satin Indian Head quarter and half eagles, too but those are way out of my league financially. I sure wouldn't leave those behind.
Number 7 - Proof Barber
I can only speak to the Proof Barber Dimes. The problem as I see it is they are too easy to collect. There are 24 of them. One could easily find all of them on-line. Being proofs, they are usually high grade. It's just a matter of having the funds to pay for them. Or being extremely particular about toning. And then you are done. What should one start collecting next? Low supply and low demand. Business strikes are another story.
Colonial coinage...
Most are ugly unless they are in very high grade condition...in which case, they are usually very expensive.
Do planchet flaws and low-end minting technology, typically weak strike, etc. contribute to a colonial coin's charm, or detract from its appeal?
If you are a collector who likes to complete sets, many colonial "series" have real stoppers that are practically unobtainable. The term "rare" takes on a whole new meaning with colonials.
There's a lot to learn. If you want to collect Connecticut coppers, for example...There were more than 355 die combinations, with at least 126 type varieties having 26 distinct bust styles made by at least six different mints.
I could go on...
What is a colonial coin anyway?
I thought that was your specialty! Don’t want any competition? 🤣
Silver Commemoratives - Number 8
The 50 coin Registry Set doesn't help. Treating each issue as a type coin encourages buying the cheapest, most common version instead of aiming for the lowest population coin within a type and possibly the 144 coin set.
I think getting a lot of people to go for the 144 coin set is a dream, but a good one
For me, I might break it up more, like to have a date/mm Registry Set for each of the most popular ones, like a date/mm set for Oregon. Then, I might disqualify coins in the larger sets to give others the ability to win.