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A few more "newbie" questions...
gamer1958
Posts: 147
OK, I have been following along here for a couple of months (learned a lot) and decided I will make my debut post to the forum.
1. What kind of magnifying glass (device, whatever) do you recommend (for looking at coins--I've read these boards and some of you guys have a strange sense of humor).
2. How do you identify full-step (5 or 6) Jeffs; I know you count the steps, but what specific technique do you use to identify coins for possible submission, and those to reject?
2b. Is there any reason for the low value of the 1950-D Jeff? As it appears to have the lowest mintage in the series.
3. GOLD--I prefer bullion coins (with their small premium over spot); is there any compelling reason for buying say, AU graded US type coins such as the St. Gaudens or Liberty double-eagle (common dates)?
Thanks, all replies appreciated and I think you guys are great.
1. What kind of magnifying glass (device, whatever) do you recommend (for looking at coins--I've read these boards and some of you guys have a strange sense of humor).
2. How do you identify full-step (5 or 6) Jeffs; I know you count the steps, but what specific technique do you use to identify coins for possible submission, and those to reject?
2b. Is there any reason for the low value of the 1950-D Jeff? As it appears to have the lowest mintage in the series.
3. GOLD--I prefer bullion coins (with their small premium over spot); is there any compelling reason for buying say, AU graded US type coins such as the St. Gaudens or Liberty double-eagle (common dates)?
Thanks, all replies appreciated and I think you guys are great.
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I use a 5x glass but also a 10x if there is something I want to see close up. Anything beyond that I don't care about.
Full-step Jeffersons require the steps to be completely struck, without any breaks along the way.
If you just want to collect gold, then GAE's or Kruggerands are good. If you want some gold coins with some numismatic value then you can buy some double eagles - just don't buy them raw until you are very familiar with them as there are a lot of counterfiets.
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since 8/1/6
1. I use a 5x for just looking, I use a 10x if I see something with the naked eye that stands out, now I also use a 16x for I collect RPM in the lincoln series and some are hard to tell without alot of magnification, but that is me, normally 3x to 10x is the norm
2. relayer was right on about the steps, as for the price of the 50D jeff it was the law of supply and demand, ALOT of them were put back in uncirculated condition hence the low price.
3. I do not know very much about gold except my better half loves the heck out of it, LOL so I will leave that for another more knowledgable than me .
Robbi
Check my ebay BIN or Make Offers!!
You can find glasses in telescopes and other optical equipment which are as good as any
you can find specifically made for collectors. These can be picked up at garage sales and
the like for very low cost. I use a low power glass with a wide field for scanning rolls, bags,
and assortments of coins and a portable microscope for attribution. In between are several
others for specific usage.
The '50-D nickel was saved in huge numbers and few made it into circulation. The primary
factor holding down the price of gems is that this issue was very well made.
******
Dennis
I've been getting all my supplies here, and have been happy with the service provided.
Welcome, BTW
Hi, Gamer. I’ll say welcome, too. You’re right, this can be a squirrelly, hilarious bunch, but I’ve learned a lot here too. I would like to add a question to your list. What does “ttt” mean?
Dennis
ttt = to the top, to keep a thread from slipping off the first page
"Exactly."
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Dennis
Edited to spell "your" correctly.
Cool place huh ?
Buncha wise guys for being Coin Geeks !
If by bullion coins, you mean K-rands, Gold Eagles, etc., then the decision to branch out to older gold coins is purely up to you. (Some folks get bored with the modern bullion coins.)
Generally speaking, 1 oz. modern bullion coins sell for about the smallest premium to melt. Older British Sovereigns also sell for a small premium, French 20 Franc coins sell for a bit larger premium and older common US gold coins sell for a bit larger premium.
With older US gold coins, there's not only the premium to melt, but a numismatic premium (reflecting demand for the coins). The numismatic premium narrows and widens in response to market conditions. If you track it carefully (and buy from someone who charges the smallest premium), you can then get a "double" profit when the premium to melt and numismatic premium widen. If you're interested, you'll want to be a fussy buyer of XF/AU coins. The double eagles have the smallest premiums, usually.
As always, with raw coins, pick your dealer carefully - there are a fair amount of counterfeit US gold coins out there.
Check out the Southern Gold Society
You don't really want to collect Jeffs do you? All the riddicule from fellow board members over collecting those ugly coins? Not to mention, it will cost me more money... lol
But really,
Okay... glasses... I use a Bausch and Lomb 10X and a Morris & Company 16X with a stereo microscope on the way after the tax return comes in... but, really buy the scope that does what you want it to do.
In regards to Jefferson strikes and steps, go to the best resource available.
1950-D's... you're absolutely correct... 50-D's are cheap, but have been going up recently. The main reason why they are so cheap is because many people hoarded them upon release after hearing they were a low mintage. As Cladking said, a very good strike mostly... try to find the VF 50-D... they are rarer that a BU example.
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.