Has the current coin market changed collector grading strictness?
Bear
Posts: 18,953 ✭✭✭
I dont know about the rest of the collectors on the Forum, but in the last 8 months or so,
I have become very finicky. I know I am driving my regular coin dealers crazy, but I have been
regecting 7-8 out of every 10 coins looked at. Most of these coins were nice and certainly worthy of the
grade affixed by PCGS, however they werent the jaw dropper specimins with the "look". These are the
kind of coins that get run away prices even in the down markets. Whether they be grade 65, 66, 67 or 68,
these type and classic commem coins must have it all, strike, color, luster and freedom from marks. If this is just
not me but a trend of advanced collectors, then it would signal a dramatic upward move for these
classy looking coins. Of course, if its just me, then I might just be crazy, picky and a royal pain in the
assets to dealers.
I have become very finicky. I know I am driving my regular coin dealers crazy, but I have been
regecting 7-8 out of every 10 coins looked at. Most of these coins were nice and certainly worthy of the
grade affixed by PCGS, however they werent the jaw dropper specimins with the "look". These are the
kind of coins that get run away prices even in the down markets. Whether they be grade 65, 66, 67 or 68,
these type and classic commem coins must have it all, strike, color, luster and freedom from marks. If this is just
not me but a trend of advanced collectors, then it would signal a dramatic upward move for these
classy looking coins. Of course, if its just me, then I might just be crazy, picky and a royal pain in the
assets to dealers.
There once was a place called
Camelot
Camelot
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Comments
I would like to purchase a capped bust left $5 in choice AU as a type coin. There are many, many AUs out there, but to find one with original surfaces, without adjustment marks or abrasions, with a decent strike, and the right balance of luster and color, it is going to be quite a while.
On the other hand, I would like to purchase an 1861-D $5, a historic coin and arguably the key date to the Dahlonega $5's, in XF condition. In order to get a scarce coin like that in the "collector grade" (read: reasonably affordable), I expect to make sacrifices that I would not make for a more common coin.
What series do you collect???
I collect Seated liberty and Barber Quarters and Half Dollars
in MS as well as PR and Classic Commems. I look for beautiful even
colors although I have a number of nice untoned origonal coins. Also
I collect a few Turbaned Bust Half Dollars. When I go to sell my collection, I expect
the bidding dealers and collectors to drool, snarl and snap at each other, in a feeding frenzy.
I intend to sit in the back of the room with a cup of hot tea and enjoy the fruits of my labors.
I have made many mistakes in my collecting years, but I have learned the hard way that pickey
gets the job done right. I wont pay stupid money but I have been known to pay crazy money
for the right coins.
Camelot
But he had a very very nice commem. I refused it for my interpretation of its marks compared to the grade, and found it unacceptable. Mike was taken aback, as was Larry, but they were the gentlemen they always are, and accepted my decision. It is getting a bit harder, given the double whammy of grade-flation, and our abilities to be a bit more circumspect. This is good, and completely understood, even appreciated and respected, by the real professionals.
Don't bears prefer pic-a-nic baskets?
Some of these guys that say we're crazy and think we're just old grumpy technical graders but it's not really true. We want it all, and then some. Problem is there aren't many of these out there. Another problem is SOME of these nice dealers that say to just buy the eye-appeal, when selling to them they suddenly become technical graders. Funny how that happens. I say this as fact not just assumption BTW.
Also, which this hasn't been a problem with me because I ask enough questions from dealers I trust buying sight unseen.... you return too many coins and they won't want to send them to you anymore.
Also, I am a big enough client that my group of dealers put up with me.
Camelot
ps: and mature bears.
I think that there may be two forces at work here. One, is that becoming more discriminating is part of growth as a collector. When you do buy the really good ones and compare them to your others you will begin to see which of your coins were mistakes. I looked through my set a while ago and realized that those that were "solid for the grade" and nothing more were mistakes. I now try to avoid buying those coins.
Of course if you are dealing in the really top end (I am not), say MS 67 and 68, you have to have some real monsters to make the "solid for the grade" ones look paltry. Monsterman has written a number of great posts about this in the Registry forum.
The second force is price. As prices go up, I think it becomes natural for us to say "for that kind of money I want an eye popping coin."
CG
<< <i>Well I do send a check to reimburs dealers for their mailing expense. >>
I've only returned a few coins before. I'm not a big client of any certain dealer. I've also returned their mailing expense. One dealer appreciated it so much they didn't even tell me they received the coin back let alone the money I enclosed. I had to ask 2 weeks later if they received it. I know they must have been too busy to give me that consideration that I always give.
K S