enjoying high grade mint state coins

1907Quarter

pure collector here: an MS65 and MS67 version of the same coin has equally strong strike and luster. Since it starts to take a loop to discern the marks on the coin, doesn't the pure collector have an advantage over the investor in that he/she can just enjoy the coin for what it is for a fraction of the price? Is there anything I'm missing in knowing that a coin has a more pristine surface than another? Or is it just that there are less of them around that adds an element of appreciation?

cladking

Every collector has his own tastes and desires. Much of grading is experience and
we all have different amounts and even types of experience. All that can be said for
certain about coins in two different grades is that if they are accurately graded then
most collectors will usually prefer the one in the higher grade. This does allow those
who know their own tastes to acquire relative bargains. If you like choice original
surfaces then you can concentrate on this one aspect of a coins grade and find some
bargains that others miss because they are looking for something else. In the long
run it is the collector who usually proves to have gotten the most "bargains" simply
because he's looking to satisfy himself rather than a financial advisor, registry, or the
like.

My own preference is for strike and to a much lesser extent a lack of marking.

Hoot

No doubt that the price breaks between grades can offer opportunity to an astute collector. Often, the break represents a level at which a collector strives to "invest" in his/her collection, since one day they will sell it and they probably don't want to lose most of their investment. I know of few collectors who truly do not care about this, especially when speaking of collections that are worth into the thousands (often much more) of dollars. And for series that a person specializes in, the blemishes and differences in strike and luster that distinguish MS65, 66, and 67 grades can be quite noticeable. For nickels (what I primarily collect), the differences in these grades are often quite evident and do not require a loupe to distinguish them. It's true that this is not always the case, especially with coins that ride the border of certain grades, especially MS66/67. With nickels, and often with other series, luster and strike play very important roles, and small marks, especially in non-focal areas, play a lesser role. Of course, these factors are considered from one date/Mint combination to the next. That's the challenge for knowing any series in detail.

Hoot

1907Quarter

excellent and insightful answers, both!

CalGold

Depends on the price gradiant between grades and what most collectors of the series want. If the price variance is small and most collectors only buy 67 or higher (as with many moderns) then anyone owning a 65 will be stuck with it and it wont seem like much of a bargain when it comes time to sell (unless it was pulled from change).

On the other hand if there is a big price spike from 65 to 66 and most collectors of the series are priced out of the 66 and 67 coins there may be significant liquidity in 65s.

CG

tradedollarnut

A bad 67 isn't worth the price increase over a great MS65. A great MS67 most certainly is worth the price increase over a bad MS65. So buy great MS67's or great MS65's and be happy!

cladking

<< <i>Depends on the price gradiant between grades and what most collectors of the series want. If the price variance is small and most collectors only buy 67 or higher (as with many moderns) then anyone owning a 65 will be stuck with it and it wont seem like much of a bargain when it comes time to sell (unless it was pulled from change).

On the other hand if there is a big price spike from 65 to 66 and most collectors of the series are priced out of the 66 and 67 coins there may be significant liquidity in 65s.

CG >>




At the risk of seeming argumentative, there are many moderns which are quite scarce in MS-65.
Most of the sets at this level are very inexpensive and can be quite attractive and challenging.
Moderns which are common in MS-65 should be avoided unless purchased raw to avoid paying
the slabbing fee.

As a rule I agree with the statement that the highest grade you can afford is your best bet. Ob-
viously one should determine for himself what he finds the best whether the coins are raw or
slabbed.

BigMoose

I think TDN has it right, as usual. You can often find wonderful quality within any given grade. And quality and grade don't necessarily equate. Look for the very best quality you can find within any particular grade or grades that you decide to collect. I have rarely been disappointed using this approach.