I am baffled
Singapore
Posts: 578
Good evening people,
I find it amazing to see so many of you are caught up in a frenzy of assembling, discussing, and paying massive prices for 'registry quality' modern coins - coins of which tens or hundreds of millions were minted, millions were saved and the designation MS66 or MS67 or whatever is, for all practical purposes, meaningless.
Take a pile of your 66s and 67s and 68s, remove them from their holders, spread them on a table (or other flat surface) and I bet not one among you could match the coins to their assigned holders with any degree of accuracy. I don't believe even the PCGS graders could do it. No.
And this is to say nothing of the countless thousands and thousands of these coins out there in collections, in dresser drawers and between couch cushions that are not yet certified but are every bit the equal of these 'pop-top' coins.
I collect uncirculated colonial coins - 200 year old coins where not more than a handful of mint state examples exist. For many of these colonials, the highest graded coin may be a single PCGS 63, with the next best being a single PCGS 45 - to me this is where having the finest graded specimen actually means something. And I believe most of you could, with adequate lighting, match these coins with their holders as in the example cited above.
The crazy thing (and believe me, it is crazy) is that many of these genuinely old, genuinely rare mint state colonials are today actually selling for about the same amount of money as the insanely common modern coins that people are buying like milk and bread before a blizzard.
Am I missing something here?
Singapore
I find it amazing to see so many of you are caught up in a frenzy of assembling, discussing, and paying massive prices for 'registry quality' modern coins - coins of which tens or hundreds of millions were minted, millions were saved and the designation MS66 or MS67 or whatever is, for all practical purposes, meaningless.
Take a pile of your 66s and 67s and 68s, remove them from their holders, spread them on a table (or other flat surface) and I bet not one among you could match the coins to their assigned holders with any degree of accuracy. I don't believe even the PCGS graders could do it. No.
And this is to say nothing of the countless thousands and thousands of these coins out there in collections, in dresser drawers and between couch cushions that are not yet certified but are every bit the equal of these 'pop-top' coins.
I collect uncirculated colonial coins - 200 year old coins where not more than a handful of mint state examples exist. For many of these colonials, the highest graded coin may be a single PCGS 63, with the next best being a single PCGS 45 - to me this is where having the finest graded specimen actually means something. And I believe most of you could, with adequate lighting, match these coins with their holders as in the example cited above.
The crazy thing (and believe me, it is crazy) is that many of these genuinely old, genuinely rare mint state colonials are today actually selling for about the same amount of money as the insanely common modern coins that people are buying like milk and bread before a blizzard.
Am I missing something here?
Singapore
Singapore
0
Comments
Cameron Kiefer
I share your tastes to some degree. My collection is concentrated in 1850 to 1950 coins. However, I believe that collector tastes have shifted from absolute rarity coins to condition rarities. In some ways this makes sense as modern condition rarities are absolutely beautiful coins. One of the reasons I do not collect drapped bust coins for example is that I can not afford them in a condition in which they are beautiful and magnificent. I believe that those who pay tremendous sums for high grade moderns would be able to rank them from 66 to 68. For the most part, I believe I could do it, though I really don't collect them. I used to be one of the world's premier Eisenhower dollar collectors. In that series, I could easily tell the difference between 65, 66, and 67 mint state coins. So, I believe it is a question of taste, and taste is in the eye of the collector.
Greg
<< <i>in dresser drawers and between couch cushions that are not yet certified but are every bit the equal of these 'pop-top' coins. >>
It is unlikely that a coin tucked away in a dresser drawer, or lodged in the cushions of a couch would be the equal of a pop top coin. If you find one under such circumstances and "make" a grade rarity with it, please let us know so we can all lift our cushions and begin the hunt.
Russ, NCNE
<< <i>yes....Your coins are ugly. >>
I agree 67, 68, and 69%
Seriously, as mentioned condition rarity is a coin that has several million minted but only a handful that grade high. The mint for years has massed produced circulation quality coins, that were even put into "Mint sets" for collectors to collect. Also if you did have a roll of nickels, it would be like winning the lottery to have one grade MS68 with full steps. If you look at the bright side of this Singapore, you also have some condition raritys. Rare to you and probably no-one else.
If I had a colonial coin in MS63, I would probably put it in my couch and not spend $30 to have it graded and take the $30 and get 15 rolls of nickels!
Welcome to the board, I hope with your next thread, you don't get your full steps, stepped on.
Paul.
Later, Paul.
out of the woodwork. I saw something shiny just the other day stuck under some
paneling. After prying it out with a screwdriver and an awl it turned out to be an MS-70
1969 quarter. It must have been under there all these years just waiting for the time
it would be rare and valuable. How many others are there like this? They produced all
moderns in the hundreds of billions or the trillions so they'll always be more common
than electrons in the galaxy! I got another neat coin in change at the gas station just
today. It was an VG++ 1978-D dime. I wiped it with a rag and dipped it in acetone and
under all that wear was, well you guessed it, another MS-70! I've been saving all my
MS-70's and when these dolts have pushed up the price as much as they can I'll slab 'em
all and cause a market crash that will make the big bang look like a firecracker. Everyone
will lose tons of money and I'll laugh all the way to the bank. It certainly is wise of Sing-
apore not to have tied up his money in coins for the last half century or so. You can pick
them up now as pocket change. All it takes is to find the ones that always landed on their
edges over the years.
We must all hang around for more words of wisdom and encouragement.
Let's not let this turn into another classic vs. modern war. I don't like it and I'm sure no one else does either.
I personally collect the older classic coins and not the modern coins, but won't critize people who go the other way. Everyone should be able to collect what they want and not be ridiculed for it.
So, let' keep this a nice and positive forum. I used to be a modern basher and am NOT proud of it.
Merry Christmas and Happy New Year
Jon the "dimeman"
12/14/03 Bremer Confirms U.S. Captured Saddam
Joe Holt
joe_holt@bellsouth.net
Welcome to the forums.
After a new member's first post, they must be Hung, Drawn, and Quartered, before being allowed to participate in any future discussions. I seems you've been sufficiantly initiated.
Since you're new, let me tell you collectors and dealers reside here that feel strongly about moderns. As well as collectors that take your position. Over all, a very nice group of collectors. Really!
<< <i>Am I missing something here? >>
<< <i>Yes....Your coins are ugly. >>
Classic
Dan (also a Newby)
<< <i>Yes....Your coins are ugly. >>
Claus -- That's one of the falling-down funniest comebacks I've ever seen--I laughed so hard, tears were rolling down my cheeks!
Singapore -- You made similar comments in a post on the Statehood Quarter thread started by MisterJ. In that same thread I addressed the issue of the megamillion mintages, which I've copied below:
"Despite these coins being produced in the millions, I humbly present my predictions about why this will not be a major concern:
1. The 1999 quarters were so roughly treated at both the P and D Mints that their populations in MS67-68 will never be very large, and their current values should hold up well in these grades.
2. Only an infinitessimally small percentage of each issue will ever be submitted to PCGS for grading. The vast majority acquired by casual collectors will stay in display boards or stuck away in cabinets, or eventually will be returned to circulation. Slabbing of each issue will slow to a trickle as the collector market for the slabs approaches saturation.
3. Only a small number of those people whose interest in coin collecting was piqued by the statehood quarters will become serious, long-term collectors. The number of serious collectors of statehood quarters will plateau out and most likely will eventually diminish after the series has been completed, further tending to cap the demand for PCGS slabs."
Although specifically addressing the statehood quarters, I believe the same principles apply to all the modern issues, and even more so to the modern commemoratives where mintages are sometimes miniscule.
You asked if you were missing something here; in order to understand what it is, I recommend that you go back and carefully read the illuminating post by Wondercoin that followed my post in MisterJ's thread.
Happy Holidays to all and to all a good night!
Dell
Camelot
Todd
800.954.0270
Wake up! He collects ugly colonials
Greg
Todd
800.954.0270
Why dont you rub your VF35 nickels together and maybe you'll get an MS70? High grade coins are something that you are not used to or just cant afford.. hence.. colonials.
Welcome to the Boards.. this could get fun!!
While you're entitled to your opinion (even if its poorly thought-out and generally incoherent), I believe it is very unfair to belittle a fellow collector simply because he can't afford a high quality 1982 nickel.
I believe its you who is entitled to your opinion and although you do not want to collect high grade moderns (your choice), you dont have to bash the ones that do.
There is obviously an increasing market for these coins or we wouldnt be having this discussion.
Happy Holidays!!
WWQ
Gee, If we all collected MS Colonials, and there is only 1 MS coin of many examples, not many of us would have more than 1 or 2 coins in our collection.
If you like collecting MS colonials, why are you hyping them to us? Won't that drive up the prices if more collectors compete for that single MS63 coin? Or perhaps do you have another agenda... stir up trouble, or develop a market for coins you want to sell?