My position on Moderns
RYK
Posts: 35,797 ✭✭✭✭✭
I have some friends here that collect moderns. At times, one or more may have been offended by what appear to be anti-modern remarks made by me on this forum. I would like my friends to remain friends and mean no disrespect or offense. Frankly, some of the sharpest collectors I have met (in person and on the internet) are modern collectors. Guys like Keets, Russ, and Frank are unmatched in collecting acumen. My guess is that if they had the resources or chose to so use the resources, they might be as revered as Cardinal with his early dollars.
As a collectible, modern coins (which I will define here as post-1950), are not interesting to me. It is not a financial issue. If my resources were severely constrained, I would much rather collect low-grade Liberty nickels than BU IKEs. Coins interest me primarily for their age, rarity, and history, and so to me, the Sac does not have much going for it. Condition was, is, and always will be a secondary concern.
I have nothing against collectors pursuing their collecting interests, whatever they may be. If I had to compete with the likes of Keets, Russ, and Frank for coins that I seek, they would no doubt eat me up alive. I am amazed that the quality of coins that Russ and Frank post here. They are gorgeous (in the case of Frank) and perfect (in the case of Russ). Keets posts pics rarely, but he probably understands more about the minting process than the folks that run the mint. They seek excellence in the coins they collect, and they find it.
What I do not like about moderns is the promotional aspects, centered around the registry. Dealers, who are borderline unscrupulous, promote series of common coins, and in a primarily one-way market, prey on the ego of collectors of modern coins and are able to extract what is in my mind an ungodly amount of money for a coin that is surrounded by plastic that says it is a hair better than the 800 sitting next to it. It's one thing, IMO, to have the finest 1793 Chain cent. You could probably put the contenders in one room and have a group of interested collectors quickly decide which one is the best--it's probably been done. You do not need plastic to tell you which coins are the best. You cannot do the same with the finest NJ State quarter; there probably is not a room large enough to hold all of the contending coins.
In closing. I like modern collectors, I like the collection of moderns, but I do not like dealers preying on the power of the plastic to gouge collectors for coins that are not really rare. Interestingly, when a collector like Russ sells a like coin "for an obscene profit", I do not mind it one bit.
Full disclosure: I collect state quarters with my son and have two complete sets of Frankies.
As a collectible, modern coins (which I will define here as post-1950), are not interesting to me. It is not a financial issue. If my resources were severely constrained, I would much rather collect low-grade Liberty nickels than BU IKEs. Coins interest me primarily for their age, rarity, and history, and so to me, the Sac does not have much going for it. Condition was, is, and always will be a secondary concern.
I have nothing against collectors pursuing their collecting interests, whatever they may be. If I had to compete with the likes of Keets, Russ, and Frank for coins that I seek, they would no doubt eat me up alive. I am amazed that the quality of coins that Russ and Frank post here. They are gorgeous (in the case of Frank) and perfect (in the case of Russ). Keets posts pics rarely, but he probably understands more about the minting process than the folks that run the mint. They seek excellence in the coins they collect, and they find it.
What I do not like about moderns is the promotional aspects, centered around the registry. Dealers, who are borderline unscrupulous, promote series of common coins, and in a primarily one-way market, prey on the ego of collectors of modern coins and are able to extract what is in my mind an ungodly amount of money for a coin that is surrounded by plastic that says it is a hair better than the 800 sitting next to it. It's one thing, IMO, to have the finest 1793 Chain cent. You could probably put the contenders in one room and have a group of interested collectors quickly decide which one is the best--it's probably been done. You do not need plastic to tell you which coins are the best. You cannot do the same with the finest NJ State quarter; there probably is not a room large enough to hold all of the contending coins.
In closing. I like modern collectors, I like the collection of moderns, but I do not like dealers preying on the power of the plastic to gouge collectors for coins that are not really rare. Interestingly, when a collector like Russ sells a like coin "for an obscene profit", I do not mind it one bit.
Full disclosure: I collect state quarters with my son and have two complete sets of Frankies.
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peacockcoins
Mike
Lincoln Wheats (1909 - 1958) Basic Set - Always Interested in Upgrading!
Buy an 1893-S Morgan, a 1901-S quarter, any number of rarities, classic key dates and condition census classic coins, and you can be pretty sure that you'll have a market (including dealers) to sell into. Even with prices rising, dealers don't want to buy an MS-68 clad quarter; they "make their own" from rolls, mint sets and proof sets, and "roll their own." What happens when prices fall?
For the sake of those involved I hope the market for moderns remains at least feasible and somewhat liquid. I suppose those who often make their own "you suck" purchases for little or no money have little to lose even if things go south, and they will have enjoyed the ride and possible make a few bucks in the process. Those buying from dealers for registry sets...who knows what the future would have for them.
Buy cheap, sell dear!
Russ, NCNE
Ziggy, smart post, but as a modern fan, I have no concern about the market for the coins or their liquidity. I'd actually prefer they went unnoticed and remained readily available raw. TPG's have warped the fabric of the market and created condition rarities a little prematurely. The money sort of preverts collecting, as the temptation to sell away coins that you'd love to keep is great. If you feel the coin is exceptional, but the market is willing to pay a huge multiple (more than you believe it's worth), it's hard to say no. Some of the coins deserve the huge premium, but far more do not, and the market can't seem to determine which are which just yet. I trust they'll sort it out, but in the meantime, there'll be a few dollars made and lost.
and it sets us apart from practitioners and consultants. Gregor
I do not know the modern market, but if it is a one-way street as so many peope say, that might worry some who care about an eventual ROI. (Obviously, cherrypickers like russ can still make out like a bandit though.) I suppose the next big crash will let us all know if the market for these coins has real staying power...
On another note, these coins do provide an inexpensive way for collectors to aquire really prety high grade coins for relatively cheap money. (I'm not talking about the $30,000 nickels here either!)
Chris, Bow Tie Coins.
p.s. no offense taken and hope none taken, merry Christmas and good night.
You obviously missed my point, but at the same time illustrate it. There were 5 billion 1991 Lincoln cents minted. You are selling one on ebay in PCGS plastic for at least 100 times face. I have no idea how much you will eventually get for it. There are conservatively at least one million that look exactly the same is the one you have for sale. Outside the plastic, I leave the coin at Blockbuster when I do not care to take the penny change when I pay for my $3.99 movie rental.
I never said modern coins were a bad choice, just not my choice. I praised three elite (by my definition) modern collectors. I have nothing against collectors who collect moderns, just unscrupulous dealers who prey upon them. If the shoe fits...
One is...
Perhaps I am misinformed. There are probably more like 10 million 1991 cents like the one you have for auction.
The other is...
I do not sell coins, like you do, so I do not need to promote anything. You are a dealer and do have to sell things and have to say things (true or otherwise) so that stuff gets sold.
Anyway, look at lincolns, the pops in the 60's will never reach that of many coins in the 1930's to 1950's. Yet the top wheat sets are very much admired. Are memorials not as nice of a coin?, as far as price goes: 2,000 - 3,000 for a ms67 in the sixties seems fair to me. I have been threw thousands of these rolls and they are hard to make in ms66
If I were in your position, I would think it was quite fair.
<< <i>as far as price goes: 2,000 - 3,000 for a ms67 in the sixties seems fair to me.
If I were in your position, I would think it was quite fair. >>
Within here I find our difference. My customers and I are informed about this coinage and we would from our position find this price to be fair. But when I look at your coins and the price that you would give them. I also would think they are fair. Even though I am am not as informed.
I collect both modern and old.
Of the modern i'm working on a BU Philly mint set of Washington Quarters 1950-64 (all raw), and i'm thinking about a British proof set collection 1971-1984. Proofs were never really my thing, but i love proof bronze/copper coins, so lustrous.
As for the non-modern, well i collect 17th/18th century UK sixpences and English hammered gold and silver coins from the 10th century to the 17th century.
So i'm both modern and old world collector, no reason why the two sides should be in conflict. As long as they're unslabbed so i can pick them up, hold them, appreciate them in hand, then i'm not bothered.
e-bay, this coinage is a little out of my reach.
Still in the last 2 years i have had over 2,500 lincolns slabed and have saved some of the nicest for a memorial set. Mine is far from the finest. A few that I have are very exceptional. I know this if for no other reason by the number of coins i have looked at for each date.
I find this to be very rewarding, knowing that I have a few that are among the finest. If their is a sense of competition, I find this to be healthy and it has kept my interest.
My guess would be that 30% of moderns will prove to be rare at their highest grade. That is to say even 10 years from now their will be no where near a hundred 64-d in ms67. This makes me feel as what i am doing is worth wild on my level of collecting. If i viewed them as no more than coins to be left in the penny cup at the store. Their would be no sense collecting. I would not be able to collect the coins you do.
<< <i>
I find this to be very rewarding, knowing that I have a few that are among the finest. If their is a sense of competition, I find this to be healthy and it has kept my interest.
My guess would be that 30% of moderns will prove to be rare at their highest grade. That is to say even 10 years from now their will be no where near a hundred 64-d in ms67. This makes me feel as what i am doing is worth wild on my level of collecting. If i viewed them as no more than coins to be left in the penny cup at the store. Their would be no sense collecting. I would not be able to collect the coins you do. >>
A little competition can be rewarding i find, it gives you enthusiam sometimes to go that bit further, it gives you the fuel you need to go out and find those missing dates. And it is sometimes nice to know that in your collection somewhere you have at least one or maybe a select few that are the cream of the crop. As i said in this hobby it's a case of each to their own really, we all go for different things. I tend to go for histry, but sometimes with the more modern cons i do go for condition. I rarely go for outdoing someone based on "mine's more expensive than yours", which sometimes i find slabbing can lead to. A bit of competition is good, but i've met a fair few collectors out there and they have become obsessive to the fact of where it may be a problem, i'm sure we've all met them, they've always got to have the one, one 1933 Saint ain't good enough... per say.
I'm in the hobby mostly for the history, history's my first love really, coins come second, eye appeal comes third, i'm not bothered if i make money or lose money on coins, i've made and yes i've lost, in total i've probably lost more than i've made but it's worth it to be the caretaker of a little historic artefact.
Makes me think about a similar comparison - art.
A couple of years ago, we were at the Phila Art Museum (the "Rocky steps" museum) and they had a modern art exhibit on the lower level. To me, most of it looked like a bunch of crap. We passed what looked like a pile of construction debris in the corner of one room and saw a few people admiring it. After they walked away I said to my wife "that looks like a pile of garbage. I can't imagine anyone would admire or pay for something like that" The security guard nearby laughed and told us it was a pile of construction debris from renovations!
Bottom line: Some people pay a lot of money for what may seem worthless to others. While I may not agree with it, that's their choice.
She wants to go to MOMA, now that's it's reopened. Maybe somebody's bag lunch will be on display
al h.
I love your story! That's hilarious. We do have a pile of construction debris roped off as sculpture in our hometown art museum.
BTC,
In my opinion, as stated here before by others, any coin that is worth considerably less out side its holder is not worth me spending a lot of my money on. And since this thread is about my position on the issue, I can liberally use words like "me" and "I".
Why do I care if collectors I have never met spend a lot of money on what I might consider "pocket change in plastic"? Because when they go to try to sell the 1991 PCGS MS-67 penny back to you or another dealer and get the answer, "I don't buy that crap, (I just sell it)" they may become disgruntled and lost to the hobby forever.
The collectors of moderns that I admire are the ones that take the time to find the coins themselves, understand them, teach others about them, and know how to value them.
When Russ says he likes to make "obscene profits" from selling them, he is tongue-in-cheek and serious at the same time.
Paying huge multiples for Morgan dollars in a little higher grade makes one a serious collector but
paying the exact same premium for a post 1964 coin makes one the greatest fool in a long line of
fools. The seller of the Morgan is a respected businessman while the seller of the modern is an
opportunist and best and more likely a thief. One sings the praises of the Morgan in colorful spreads
in all the coin papers but as soon as anyone dares to price a modern at higher than face value it is
mere hype. Classics advance on fundamentals and scarcity while modern increase only to set the
fools up for a drop. Classics have rub or cabinet friction from decades or centuries of being loved
too much by collectors and moderns are too shiny. When Morgans first started getting graded it
was advised to rush out and buy as many as possible because grading would increase the demand
and there was a finite supply. When moderns started being graded it was advised to dump any you
had because the grading company was making more of these every day and there's no real limit to
how many they can make.
This thread may be indicative of just how far moderns have come in the eyes of many collectors in the
last few years. We have gone from loving crap to loving debris or junk. This may not seem like much
distinction to many but if they don't have to gag perhaps they'll someday be able to get a closer look.
will wake up and reach the same conclusion should consider the fact that many of these
prices have been increasing for many years. MS Ikes for example in high grade were trading
back in the late 1970's for sometimes substantial premiums. The finest might only have brought
a couple hundred dollars but these prices have deen climbing for decades now. If you took such
an Ike into nearly any coin shop in the land in 1979 they'd have looked at you funny and told you
that they accept it in trade for a dollar. Now most shops would offer at least 10% of market for it
which is a very substantial increase. Indeed, one would be hard pressed to find anything else
which increased a thousand fold since 1979. Of course if you took the coin to a specialist or offered
it on ebay it would bring several times this price. This advance in price has been basically straight line
with a few pauses. There may be no date Ike which is found as gem only in mint sets (except '73), but
some are most commonly found in mint sets. Most of these sets are now destroyed and most of the
surviving sets have already been searched for gem Ikes. Rolls have mostly been busted up or searched.
While it's apparent that there can be no large increases in pops for most of these, they still sell at a tiny
fraction of the prices of older coins simply because the demand is not so high.
There is no one out there pumping up the demand. There is no hype for these anywhere. You don't see
people taking out splashy ads in Coin World talking about how wonderful Ikes are and how they've in-
creased remarkably in price over the years. They aren't even seen for sale very often. And why is this?
because they are very rare!! There may be only a few collectors but like most moderns they just get ab-
sorbed after they're found or graded. The few collectors outnumber the small supply which explains the
"exorbitant" prices. The coins don't flow around the dealer circuits getting higher priced with each transac-
tion and they don't get repeatedly submitted for grading to get the last nickel of value out of them. They
don't get dipped and doctored and they aren't shopped around. You also don't see modern collectors and
dealers talking about how these coins are going to the moon and you should load up now.
Yes, I've stated many times here that I think the coins may be undervalued and that present conditions
will not persist indefinitely. There is a new generation of collectors coming along and in twenty years, they
will be the bulk of all the coin collectors. What they are interested in and what they choose to collect will
be the basis of the demand side of the equation. One has to think that some of them might find rare coins
which are circulating today and hated by many to be pretty interesting. One has to suspect that coins which
can usually be found with pristine surfaces and are easily graded to be interesting to many of the newbies
today. It's difficult to imagine a world where many of the established numismatists cut their teeth on states
quarters would hold a massive prejudice against clad coins or any other "modern".
Will the demand increase? It's anyone's guess, but it's far more foolish to write off the potential of these
coins and their attactiveness than it is to collect something which might decrease in value.
previous post deleted.
There are people willing to do both, and that's why the Registry is such a brilliant marketing tactic. We all have our own niche and we all choose how to spend our (hopefully) discretionary income.
At sometime in the future,(and i imagine that collectors such as yourself will decide when that is) a coin from the sixties, in its highest grade will no longer be viewed as worthless. At this point many of my customers may be priced out of such coins. They will appear at auctions and go to buyers with the deepest pockets. Please let me know when this time arrives, for i will have a few.
Chris, Bow Tie Coins
Merry Christmas to all.
Wondercoin
siliconvalleycoins.com
BTW, across the pond, I imagine they enjoy the discussions in connection with what we consider Modern Coinage here in the States.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>any coin that is worth considerably less out side its holder is not worth me spending a lot of my money on. >>
With the exception of a handful of genuine rarities, today's market environment is such that any coin is worth considerably less raw than it is in a reputable TPG holder. It really doesn't matter whether it's a "classic" or a "modern". Crack out a PCGS MS65 Large Cent, try to sell it raw and see what happens. Pick any relatively expensive graded "classic" coin and try it. The result will be the same. It would not bring nearly as much. In other words, that argument doesn't really work.
Now, if the argument is that it's dangerous to pay huge sums of money for pop top moderns that were minted by the millions because that graded pop is likely to grow, than it's pretty much impossible to argue with that - because it's true. Anybody who's watched this market carefully knows that. Those who buy the first few pop tops graded invariably end up under water.
Edited to add: I'd also note that there are some moderns that have some time under their belt and have proven to be very difficult. BTC provided an excellent example with the 1964-D Lincoln. I haven't searched nearly as many as she, but I've looked at my share while going through 1964 mint sets. She's right; 99% of them are junk. Both the Lincolns and the Jeffersons from the 1960's are extremely difficult and are not going to be seeing an explosion of pop tops any time soon.
Russ, NCNE
<< <i>Im still looking for a point Mitch....you know, something intelligent to respond to Robert about dealers that prey on this plastic fever. >>
I see the light. One pays millions for a rare classic in very high grade then he's a numismatist and
a shewd buyer and if he buys an even rarer modern in very high grade for much less then he's got
"plastic fever".
Perhaps there are some with gold vapors or silver sickness.
That was not directed at you at all. I think that Robert's post was well said. I think that plastic marketing does happen in other non modern series too and I think that it is wrong too.
It just happens more in the modern market. I want to hear Mitch's thoughts on the subject. I want to hear about buy back's on coins that dealers dont "make".
That is problem that I have with the modern market.
John
siliconvalleycoins.com
John: You heard my thoughts for the day - the concerns of indistinguishable differences from one grade to the next and sizeable jumps in price between grades (the 2 major concerns repeatedly addressed in threads on moderns) are the same issues that often arise in classic coins as well in my opinion. One day, a classic Lincoln cent is a $3,000.00 coin (with the "best of the best" Lincoln guys attending the major sale). The "next day", it is a $36,000.00 coin and the "next day" it is a $50,000.00 coin. Tomorrow - who knows where that figure will go to - perhaps way higher than $50,000.00!!? I truly fail to see a significant difference between this TRUE STORY of a classic Lincoln cent and any story I have read concerning $2,000 modern Memorial cents that earn their price tag based upon their holder. Is there a difference in your opinion? Since I seriously collect both moderns and classics (including the cents), I would truly be interested in hearing what the difference is in the minds of my fellow collectors and will respond to questions like John's -so, long as the discussion remains civil that is.
Wondercoin
Russ - That's just not true. If you have any doubts, think how easy it would be to get incredibly rich buying all the raw coins at auction and slabbing them. Believe me, it's not that easy.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>
That was not directed at you at all. I think that Robert's post was well said. I think that plastic marketing does happen in other non modern series too and I think that it is wrong too.
It just happens more in the modern market. I want to hear Mitch's thoughts on the subject. I want to hear about buy back's on coins that dealers dont "make".
That is problem that I have with the modern market.
John >>
I don't see it and have never seen it. In fact there was a thread on this subject which
was never actually answered by those who do percieve this hype. While it's true that sel-
lers don't advertise moderns with phrases like "this is a pop top of a modern piece of crap",
one has to look at the purveyors of classics to find hyperbole and flowery language used to
describe the coins being sold.
Just because someone buys high grade coins that are not otherwise rare does not make the
collector less of a numismatist or less of a collector. It's not a collectors fault that the best ex-
ample of a coin he needs in his collection costs more than face value or that there are millions
"just like it" in circulation. It's not your fault that few of some of these coins were saved and
it's not my fault when someone pays more for a modern than it's likely to be worth in the next
couple of decades.
Nobody has to like moderns or anything else. I can easily understand why many don't. People
have many different motivations to get in to coins and just as three cent silvers don't fit well with
some of these, neither do moderns. But this doesn't make three cent silvers any less worthy of
study than moderns, or for that matter, much of anything else.
There is no such thing as a rare modern, unless you're talking unusual error.
Take out the plastic factor for a moment. How? Look at Stacks' auctions. Most coins in their auctions sell for amounts comparable to those in plastic of similar grade. You don't see them selling moderns though, do you?
<< <i>With the exception of a handful of genuine rarities, today's market environment is such that any coin is worth considerably less raw than it is in a reputable TPG holder.
Russ - That's just not true. If you have any doubts, think how easy it would be to get incredibly rich buying all the raw coins at auction and slabbing them. Believe me, it's not that easy. >>
The number of raw classic coins sold in major auctions these days represents a small, and ever shrinking, portion of the market and qualifies as exceptional circumstance in comparison to the millions of annual average joe coin transactions. My assertion that in every day practice even classics will realize substantially less sans plastic certainly reflects the true reality of the marketplace in general.
In other words, outside of the rarified air in which dealers such as yourself operate, the real world is such that the overwhelming majority of coins, classic or otherwise, drop substantially in value once liberated from their housing. It's disingenuous to claim otherwise. How many times a day do we hear "If there wasn't something wrong with the coin it would be in a slab"?
Russ, NCNE
<< <i>Cladking said if he buys an even rarer modern...
There is no such thing as a rare modern, unless you're talking unusual error.
Take out the plastic factor for a moment. How? Look at Stacks' auctions. Most coins in their auctions sell for amounts comparable to those in plastic of similar grade. You don't see them selling moderns though, do you? >>
There are no rare regular issue moderns. There are some which are rare in choice or gem
condition but you're right that there are no regular issue moderns.
There are, however, many special issues, varieties, and errors which are rare. There are coins
like the silver '77 Ikes or the clad 1964 quarter. There are some silver '65 quarters and even
'75 proof dimes without mint marks. There have been a few threads over the years listing the
modern rarities and there are numerous very rare and unique coins included. Very few of them
would sell for prices in excess of several thousand dollars. None are offered for sale very often
simply because this is a rapidly growing area and there are few sellers of any of the more desirable
moderns.
It's "The hype has been found" and is near the top now.
<< <i>BTW, across the pond, I imagine they enjoy the discussions in connection with what we consider Modern Coinage here in the States.
To me anything 1816 or later is modern.
If you the review the raw $3's sold in this sale, you will find that most sold for a pretty close to what one would expect for their condition. I think that some may have sold for less because 1) The grading offered by the auctioneer was conservative and probably biased the people who considered the coins and 2) It was a lot of supply to come to the market at once..
Collect what you like--after all, some people collect barf bags! Heck, I'd rather have the barf bags than modern coins, but to each his or her own.
<< <i>With the exception of a handful of genuine rarities, today's market environment is such that any coin is worth considerably less raw than it is in a reputable TPG holder.
If you the review the raw $3's sold in this sale, you will find that most sold for a pretty close to what one would expect for their condition. >>
For every one raw coin that sells in a major auction at close to what it would bring graded, there are likely several thousand that sold in other venues and private sales for substantially less than a similar coin in a reputable TPG holder. This is simply a reality of today's market where, regardless of the age or era of a coin, the first thing 90% of collectors ask when looking at a raw coin is "why isn't it graded?"
Russ, NCNE
BTC, what do you pay for these?
<< <i>
<< <i>...any coin is worth considerably less raw than it is in a reputable TPG holder.
This is simply a reality of today's market where, regardless of the age or era of a coin, the first thing 90% of collectors ask when looking at a raw coin is "why isn't it graded?"
Russ, NCNE >>
Most moderns are not worth the grading fee. Would you slab your pocket change??
Yep.
and it sets us apart from practitioners and consultants. Gregor
<< <i>BTC, who has responded to this thread, is offering a 1997-D PCGS MS-66 Lincoln cent on ebay. There are only 176 PCGS 97-D Lincoln cents in all grades (per the 4/04 pop report). It may be an undervalued date. There are 2300 16-D Merc dimes in the PCGS pops, and we all know how much they sell for.
eBTC, what do you pay for these? >>
xt
Rolls of memorials on an average will cost $1 or $2,some go as hi as $25 such as an 86-d. Puchased as unopened bank wraped a little more. I go threw about 300 per week. Thier can be a real expense just in seeking out these quanities.
The comparison of a 97-d cent to 16-d dime . I am not sure i see a point here. The dime is a key needed by anyone collecting this coin.
Their are few in any grade making this dime have a value based on its mintage rarity alone. The 1997-d cent dose not have this, making the coin in any grade lower than where it becomes uncommon worth no more than 1 cent. I guess i see that some may place this grade at ms 66 but i can tell you that this coin will sell for less than the cost to slab. My prey as some may suggest will not take very good care of me here. However I also have one running in ms67 in this case my "prey" may provid me a decent working wage. If i had made one in ms68
my guess would be $400.00 pop is only 20 maybe more. This helps to bring my time and investment to a profit that is fair beyond just a wage. But not to a point of huge profits taken from the hard earned pokets of our customers. But rather to a point that with about 110 hours a week between my wife and myself, we are able to make a reasonable living at home and raise 6 children. I find myself very grateful to pcgs, my customers, and The Modern Market that has provided this.
As far as anyone being able to buy a few rolls and just slab up these coins. It's not that easy. Having said this last week when we sent our orders out. I included a newsletter, my first. The only subject i covered was how I obtain rolls. I do not feel threatened bye my customers slabing coins. On the contrary, the more the learn and enjoy this hobby, the more likly they will stay around......But believe me or not, the main reason for starting a news letter was wanting to share what i have learned with customers that have supported us. future letters will include coins i feel are more common than the pops show and less common also.
I feel very good about the way I make a living. If you give this some consideration you may understand that certain statements would be taken as insult that is misplaced.
Regards, Chris