pole question to modern collectors; Why do you prefer modern coins to classic ?

barberlover

There are probably many different reasons why collectors decide differently what they like, and i'm curious why people like to collect high grade modern coins already slabbed?

No put downs here, just want to understand why you would pay hundreds or thousands for a coin which a grade or 2 lower would only be worth face value or little more than that and may have been minted in your lifetime. What is the appeal? I'm not talking about folks who get them raw and "make" them themselves, i'm talking to the people that shell out the big bucks for the ones "already made" in high grade. Les

tjkillian

I believe they see coins as works of art and really appreciate the design. When the coin is in extreme high grades (higher than MS-63), they are not distracted by flaws which all classics seem to have. There is just something about a PR-69DCAM that has to be seen to be appreciated. Very costly in normal coins.

Tom

nwcs

Here is a short list:

1. Some of them are attractive
2. They are affordable
3. Most have not been altered or played with
4. If you don't but them slabbed in high grades, they are readily found and affordable
5. It drives some classic collectors nuts
6. Some of us are 30 and under so we don't have the same nostalgia with silver as older collectors

Russ

Ditto nwcs's list, except for that annoying item #6.

Russ, NCNE

braddick

For the collector who wants the finest example within a Series. He would rather own a Modern in MS68 than a Morgan in MS64.

There are all types of ways to collect. By Series. By Type. Color. Blast White. Key Dates (coin rarity). Condition Rarity. (I'm sure there are many others.)

The strong desire and appeal to obtain the finest within a Collection is a strong one- thus the HIGH prices for Superb GEM Classics and, to a much lesser degree- Moderns.

You can pick up Morgans by the mountain in Commercial Unc but finding them in MS67+ or better is a chore (at least for the pocketbook).
You can pick up Moderns by the mountain in Commercial Unc but finding them in MS68+ or better is a chore (at least for the pocketbook).

VonZipper

I second the motion and #6.

barberlover

I fully understand about the people that get them raw and "make them" themselves, i was specifically referring to the people that shell out big money to get the high grade pieces already made [and paying hundereds or thousands a piece to get them that way.

Les

keets

define modern, give me a date cut-off.

al h.

ursabear

I think I'm with nwcs on this one for the most part.

I can access moderns in both quantity and quality and they are often truly original. I can afford to comb through lots of them to find the truly beautiful ones and keep or trade them.

I have *absolutely* nothing against classics - far from it. I like most modern designs and I think the idea that tjkillian expressed about proofs is also a good point. A silver Rhode Island in 69DC or Constitution $5 in 69DC is truly beautiful to behold in my eyes.

nwcs

I don't think many of us on the board spend the incredible amount of money on moderns. But if I had the money to spend like that, I'd probably buy some ultra high quality moderns and classics. I would have the moderns because they would be near perfection. And a near perfect coin is cool. And if it is a nice design, then even better.

But since I don't have a budget that would allow me to buy the ultra expensive coins, it's sort of moot for me.

jonesy

Modern Coins are ugly. The Classics have Beautiful Themes. Not the same old ugly presidents. Classics had 116,500,000 less collectors, hording coins with mintages of over 250,000,000. When most Classics came out, Very few were bought from the mint in collector bags for hundreds of dollars. You didn't get them by the roll, purchased from the mint. Classics were produced from dies that were used for a much longer period of time. This makes finding high grade MS coins tougher. Then comes the time period. Some Classics are over 200 years old. How lucky can one be in getting a coin that has been treated with kid gloves this long.
Glenn

barberlover

Keets,it hard to make a blanket statement about dates because not all series started and ended at the same time, so i can only give you my definition of modern coins; 1 cent- the start of the memorial cent, i'll skip the nickle right now and get back to it later, dimes - 1964, quarters -1964 halves- 1963 nickles are a toughie, there was no precious metal content like the dimes, quarters and halves [except during the second world war] and there has been no design change to either side since it started in the 30's [unlike the lincoln cent which changed reverse during the 50's]

I also consider all dollar coins struck from the first Ike onwards to be modern coins.

These defenitions are certainly subjective [and just my opionion]

Some folks even think modern coins started with the design changes for the dime & quarter & half in 1916.

keets

..........my definitions:

1909-cent.
1938-nickel.
1946-dime.
1932-quarter.
1948-half dollar.
1971-dollar.

really a moot point though. i think most of the hubbub about moderns really centers on the furor created by the Statehood Quarters. that seems to have brought in many new collectors which started a domino-like effect that has encompassed most issues after 1950 when the mint resumed proof sets. i think the whole thing has been good for us all and much overblown in it's negative impact on the hobby.

with that said, i'm not one to spend the big dollar on any coin really. i will, but i'm quite selective and cautious. generally speaking, i'll purchase modern, high grade coins that i can buy already slabbed at close to what it would cost if i bought them raw and submitted for certification. i figure it's like the old saying, a bird in hand is worth two in the bush, so i go with the sure thing. other than that, i'll pay for what i want when i'm relatively certain i can't find it myself. my most recent was back before Christmas when i picked up a 1965 SMS Jefferson/PCGS MS65DCAM for my modern set. other coins i may buy already holdered are the proof silver issues from the 90's and a 1966 SMS DCAM Jefferson. i think i'll be able to find a 1967 SMS DCAM Jefferson raw so i pass on them. just my way of doing it.

as i said on the other thread about this, my main reason for focusing so much on moderns is because of the availability of raw coins. like so many others, if rolls of raw classics were available for low prices, i'd go that route.

al h.

MacCoin

I have some nice moderns but the way I see it they will be classics some day. atleast the ones I have won't look like most of my album collection(very cirulated) in 50 years.

rd5425

because pcgs only charges $15 for modern opposed to $30 for classic

ER

I collect them both, classics and moderns, from 1795 to now.
They are all ( almost all ) beautiful. But I tend to stay away from the crazy very high-priced moderns that we recently talked about in other threads.

Dog97

I mostly collect Morgans, have for 30+ years...........
But for some reason I have a 1997 Modern set. Has something to do with my kid being born that year.
There were very few slabbed moderns in 97 & 98 when I started so I had to make my own for about ½ the biz strikes. Proofs were easy enough to find already slabbed. As more biz strikes were slabbed, naturally I grabbed up the ones that were graded higher than what I already had. Thus my highest graded 1997 set came about. I've got every kind of 1997 coin minted; business strikes, proof strikes, silver proofs, sms, commem, bullion and even every kind of mint striking errors for the fore mentioned coins also. From a mashed mangled die cap bottom or a clip with ½ the coin missing to the epitome of perfection Proof 70 DCam and everything in between.
It's been a constant upgrade thing, it's been a learning experience, it's been fun, challenging & even expensive at times.
This has made me look at Modern stuff in a way that most collectors, even the Registry Set collectors who specialize in Moderns, probably never even dream of.
I'm a coin collector & to me coins are coins and coin collecting is collecting coins & the only difference is the DATES.

cladking

I like coins. I'm not sure I have any preferences.

I haven't needed to buy many slabbed coins because I can get them raw most of the time.
I concentrate on moderns because they are affordable. Equally rare or desirable classics
cost many multiples of moderns.

BigE

MS 69 or Pr 69 was a grade created especially for the Modern collectors-----------------BigE