Breaking the Mint State Cycle (QDB article in Coin World)

RYK

I just read a very enjoyable and important article in CW by QDB (Dec. 24 issue) titled, " Breaking the Cycle: Learn to collect outside 'Mint State mind set'."

In the article, he encourages collecting of circulated coins, especially where the 19th and early 20th century coins are concerned and disavows the notion that if it is not mint state, it is not worthwhile or "investment quality." He talks a bit about collecting in the 50's when many collectors had multiple albums of coins of multiple series mixed with both circulated and uncirculated coins. Today, he suggests having a mint state collection of current/modern coins and collecting an earlier series in "affordable" condition.

As one who collects primarily circulated coins, this article certainly supports my position. In the series that interest me most, mint state coins are extremely expensive and unaffordable and not infrequently non-existent or generally unavailable. When I look at the collectors who contribute here, there certainly is a wide range. Few examples: Bear collects MS-65 and MS-66 classic type coins with amazing eye appeal, SaintGuru collects registry-quality Saints, and Frank collects MS-65 and 66 Frankies and Roosies with an emphasis on toning. On the other hand, Ziggy is putting together a type set of AU-58 coins, CoinLieutenant collects original AU bust and seated halves, and ER collects circulated bust dollars. Each of the above is a "serious" collector and committed to finding excellent coins with above average eye appeal in his/her series.

It's a great hobby, and there are many ways to enjoy it.

Enjoy!

JrGMan2004

Longacre

I agree. I think that circulated coins have a lot more character and are very interesting. Of course, I also like looking at registry quality items, but there is a certain appeal to a coin that actually saw circulation.

Barry

RGL

I am perfectly content with my nice F-AU complete set of Buffs, thank you ... Mint State is neither desirable or affordable!

topstuf

While I agree with his philosophy, I also find some humor in the fact that QDB has already MADE his bundle stressing condition, condition, condition.

mercurynut

I buy the best I can afford mint state or otherwise given the date!

cladking

I agree completely except the moderns in circulation should not be overlooked.

Circulated coins have their own charms and can be very difficult to find with the
desired attributes in most series. Where coins don't exist in unc or are prohibitively
expensive, there is nothing wrong with circulated coins. At the very least the wear
will "prove" it's a "real coin".

coinlieutenant

Excellent post Robert!!

Well written.

Having collected both MS and circ coins, I have finally settled, as you discussed earlier, on collecting circ coinage.

I came to that conclusion after much thought. The following reasons stick out in my mind.

#1. Price/enjoyment ratio. A different type of P/E ratio that we are used to but useful none the less. When I looked at my collection about a year ago, I had both circ and uncirc/proof coins. As I would go through the box I noticed that I enjoyed looking and studying the circ coinage just as much as I did the uncirc. And of course, the prices for just one of the MS coins were more than all of the circ coins combined!! After doing an ego check, I realized that I wasnt getting as much enjoyment out of my coins as I could.

#2. Circ coins have history...they were used and the ones that I collect in most cases have remained uncleaned and undamaged despite their time in the economy. I like that feeling of Americana more than something that was preserved and not spent.

#3. Eye appealing circulated coins, (especially virgin XF coins), are a true challenge to find. Challenges have always appealed to me in life and this type of tedious collecting is rewarding to me. Finding a nice specimen of a circ coin is just as enjoyable as finding that special specimen of a UNC coin with hardly any of the markup. I now have less than 10K in my collection and cant spend the money that I have in reserve!! I know I wouldnt have that problem if I were collecting UNC's. I would be back in savings mode angry that I couldnt dream about the next auction and what I might find!!



I still enjoy MS coins but I get most of my enjoyment supplying my customers with them. I am still just as picky but I live vicariously through watching their collection grow and knowing that my eye and skills have helped in that accomplishment.

V.r,
John

tsacch

cool thread..........I am putting together a set of Barber Halves, average circ condition or better.....its been fun for 6 months or so and I have only 12 left for a complete set.

coinguy89

Mint State is one of the pressure's i've always had with collecting, i've always thought I had to acquire mint state, but this is untrue, and im glad it's being addressed. Collecting should be fun, not worrying over super expensive not obtainable coins. I'll have to read this one.