Why is a PO1 such a cool thing now?

Newcomp103

and...since eye appeal is not there on most of them...is it because they are sometimes POP1 coins? Or is it that they are considered problem-free coins if PCGS will slab them? Or is it just a game? I am a poster child for collect whatever you like....but I don't get it with the PO1 stuff?

robkool

I may just have to send in a few of my SLQ's and have them determine the dates on them... PO 01's for sure.

AUandAG

It's the challenge, the game.....I'm tempted but not quite yet!

bob

roadrunner

I disagree. They do have eye appeal in that the coins are all wear with no damage. You don't get a scratched up or dinged up coin going PO1.... those are either rejected or net graded. This is what makes a fully PO1 coin sort of charming. 3 yrs ago I ran across a very well worn 1838RE half for only $20. I bought it because it was so well worn,orig and undamaged. I didn't buy it because I was hoping for PO1 glory. In fact I thought the coin was AG and undergraded. Now I look at the standards and realize the coin is a FR02 or PO1. And it's worth more than an AG or Good! go figure.

roadrunner

ziggy29

It started out with a pretty fun challenge a couple years back from one person here -- $1000 to the first person who could get PCGS to slab an Ike graded PO-01.

Soon after that it became the next "thing to do," and pretty soon a lot of people were trying to do it. And now, of course, PCGS has the "low ball registry" which I personally think is a bad idea and an incentive to wear down collectible coins in higher grades.

Personally I don't get it, but I think it's pretty cool that the low end of the collecting spectrum is finally seeing the love and respect.

STONE

<< <i>Why is a PO1 such a cool thing now? >>


It just is

TorinoCobra71

Most of it is due to the Registry Set Craze.....

TorinoCobra71

CarsonCityGold

The thrill of the chase. It is very difficult to locate a problem free coin worn to the extent that the date is barely recognizable.
At first glance is this an 81, 84 or 91?

It's an 81CC PO1.

And then there are times where the date is absolutely no longer there, but the coin is identifiable as a 1 year type only.
This is a PCGS PO1 1921 Peace Dollar and probably the worst known.
Enjoy your passion.

fc

because pcgs has a low ball registry set?

ziggy29

<< <i>because pcgs has a low ball registry set? >>

I think the PCGS marketing department's internal slogan must be, "If we offer it, they will come."

CarsonCityGold

<< <i>because pcgs has a low ball registry set? >>



I can't speak for others, but I've been collecting low grades for several years before the low ball registry started. There are 2 or 3 other passionate long time low grade collectors on the board also.

braddick

My favorite PO01 coin:

fc

carsoncitygold,

i know you have been. i can clearly remember you posting long before
this low ball registry set.

also many of us like well circulated examples but as with all cool
things, when it becomes popular, it is no longer cool ;-)




almost impossible to find well worn gold.
i wonder if the more modern coins are being artificially worn down.
!!!

1985ChicagoBears

if the Peace $ is graded P01, how can the 1881-cc have the same grading? the 1881-cc has more detail, can make out the date and mint. What am I missing? FYI - I agree with the Peace $ being a P01.

ziggy29

<< <i>if the Peace $ is graded P01, how can the 1881-cc have the same grading? the 1881-cc has more detail, can make out the date and mint. What am I missing? FYI - I agree with the Peace $ being a P01. >>

Some coins are more PO-1 than others. These coins have to be the same grade because there is no numerical grade of zero.

Zoins

PO1's have a lot of eye appeal but it takes a different kind of eye.

They were popular long before the PCGS Reigstry Set started recognizing them.

TwoSides2aCoin

It is the most difficult grade to achieve at PCGS
followed closely by MS 60, then MS 70

zeus135

Always has been cool....... people are just coming out of the closet to show them now.

ziggy29

<< <i>It is the most difficult grade to achieve at PCGS
followed closely by MS 60, then MS 70 >>

But the problem is, if someone becomes proficient at "simulating" wear quickly, there's almost a never-ending supply of PO-1 coins.

MadMarty

I have some FR02s that are worse then that PO01 CC Morgan... I got screwed!!!

Zoins

<< <i>I have some FR02s that are worse then that PO01 CC Morgan... I got screwed!!! >>

Crack out candidates

braddick

<< <i>

<< <i>It is the most difficult grade to achieve at PCGS followed closely by MS 60, then MS 70 >>

But the problem is, if someone becomes proficient at "simulating" wear quickly, there's almost a never-ending supply of PO-1 coins. >>



You would think, but that's not the case as simulated wear looks, well, simulated.
Otherwise, I think someone would have taken me up on this challenge.

braddick

I also offered a 1K reward for a PO01 Ike

The best I received was a raw FA02 that NGC graded out (it's still in my collection).

CarsonCityGold

<< <i>I also offered a 1K reward for a PO01 Ike >>



The one I sold brought $202.50 in early 2007


PO 01 Ike

JRocco

Here is my reply on the last P01 thread.

"Does anyone think that in an attempt to "get" us to go in another direction..... once this eases off the next tomfoolery will be F15 registries where people holding classics in 20 slabs will resubmit HOPING for a downgrade and continue to crack out those 20's hoping for a 15 till they get it right and downgrade it to a 15 slab?????

I am sorry and I know that I will step on some toes BUT..............

this is like a Groundhog day type of "RETURN OF THE LEMMINGS"

Well......... Lemmings are cute I guess and when the TPG's decide to pull on their leash they do tend to just go in the next direction without much resistance.......

"

fc

1874 half eagle. low low grade


i thought about it, imagine mintage is like 3500, but it appears
to be in bad shape. maybe someone else would like it?

quite tough half eagle. would make a fine fine pocket piece.
did not sell last time on ebay.

lordmarcovan

<< <i>
>>



That goldie is too nice to be PO01. I would call it a slider between FR02 and AG03.

It's FR02 PQ!



Edit: ditto to the one that was just posted above me.

fc

sorry, that coin is AG03. i posted it because it is the lowest i have ;-)

ziggy29

<< <i>That goldie is too nice to be PO01. I would call it a slider between FR02 and AG03.

It's FR02 PQ! >>

At this end of the spectrum, I think "PQ" means it barely makes the grade and is almost a crackout candidate for a lower grade...

Dabigkahuna

Larry
Dabigkahuna

Zoins

Nice low grade coins everyone!

Collectors often say they like classic coins because there's more history with them. A coin with more wear probably has been in touch with more people and experience more commerce than a coin with less wear. So if you like history and imagining what it was like when the coin was being spent, low grade coins may have some attractiveness over higher grade ones that may have seen little, if any, commercial use.

STONE

Since i haven't posted it here, here's my best PO-01 Take care all.

GoldenEyeNumismatics

<< <i>and...since eye appeal is not there on most of them...is it because they are sometimes POP1 coins? Or is it that they are considered problem-free coins if PCGS will slab them? Or is it just a game? I am a poster child for collect whatever you like....but I don't get it with the PO1 stuff? >>



A PO1 coin has seen way more history than any UNC piece. A PO1 coin has been places, seen sights, been used--it's a true connection to history. You can't get that with BU coins

ziggy29

<< <i>A PO1 coin has seen way more history than any UNC piece. A PO1 coin has been places, seen sights, been used--it's a true connection to history. You can't get that with BU coins >>

I totally agree with this, but I don't understand the clamor for slabbing them -- at least not after the "coolness factor" of it vanished when it started becoming common practice. And that clamor was happening even *before* marketing invented another reason to get people to slab coins that don't need to be slabbed. I mean, from the standpoint of history and feeling connected to it, there's nothing like holding it in your hand. And if you're reasonably careful, you're not going to hurt a PO-1 coin by handling it. Putting it in plastic seems like it would take away from that historical link and add a "degree of separation" between me and that history.

JRocco

<< <i>

<< <i>A PO1 coin has seen way more history than any UNC piece. A PO1 coin has been places, seen sights, been used--it's a true connection to history. You can't get that with BU coins >>

I totally agree with this, but I don't understand the clamor for slabbing them -- at least not after the "coolness factor" of it vanished when it started becoming common practice. And that clamor was happening even *before* marketing invented another reason to get people to slab coins that don't need to be slabbed. I mean, from the standpoint of history and feeling connected to it, there's nothing like holding it in your hand. And if you're reasonably careful, you're not going to hurt a PO-1 coin by handling it. Putting it in plastic seems like it would take away from that historical link and add a "degree of separation" between me and that history. >>



Perfect ziggy

You know, I could see the dealers who "get into" this craze, because these P01 coins will make them quite a pretty penny and these P01 coins they show go straight onto their sites to sell.

Sotty

If this really becomes popular, maybe the coin doctors will get involved.
It would really be cool to have a set of the new president dollars in ag-good.
I think a p01 would be too obvious though.

JRocco

<< <i>If this really becomes popular, maybe the coin doctors will get involved.
It would really be cool to have a set of the new president dollars in ag-good.
I think a p01 would be too obvious though.
>>



HaHaHa....
But the REALLY sad thing is the lines of buyers that would put down some serious dosh for them.....

Those furry little lemmings.......

Zoins

<< <i>If this really becomes popular, maybe the coin doctors will get involved.
It would really be cool to have a set of the new president dollars in ag-good.
I think a p01 would be too obvious though. >>

Would that be any more obvious than an IKE?

FatMan

I have always thought that coins with honest wear were cool.

LincolnCentMan

I think it has to do with the hands that the coins must have passed through and the history those coins have touched.

-David

Colorfulcoins

Here's a TRUE PO01 Gold $2.5 dated 1908.............

PokerGenius

i have a 1934-S Peace Dollar that will someday be a PO1 hopefully before i die

Colorfulcoins

And here's a raw 1836 $5 that I wish was a PO01 but is probably a weak FR02:

braddick

Here is a fun thread from back in the day.

Walkerfan

I'll never understand the attraction.......

I get that it's challenging and competitive....But WHY not compete for something that has quality and/or value??

Live and let live and to each his own.

blitzdude

Why do people care about imaginary bitcoins and silly little green/gold stickers on their graded coin slabs? It is most certainly a crazy world. SMH!

jmlanzaf

@blitzdude said:
Why do people care about imaginary bitcoins and silly little green/gold stickers on their graded coin slabs? It is most certainly a crazy world. SMH!

Why do people care about imaginary shares of GM stock and imaginary Treasury bonds? Those are both all digital these days.

Zoins

@Walkerfan said:
I'll never understand the attraction.......

I get that it's challenging and competitive....But WHY not compete for something that has quality and/or value??

Live and let live and to each his own.

But they do have quality and value

Zoins

@Newcomp103 said:
Why is a PO1 such a cool thing now?
and...since eye appeal is not there on most of them...is it because they are sometimes POP1 coins? Or is it that they are considered problem-free coins if PCGS will slab them? Or is it just a game? I am a poster child for collect whatever you like....but I don't get it with the PO1 stuff?

The best ones that are PO01s that have great eye appeal

koynekwest

They are not cool with me. I don't get it either.

Walkerfan

@Zoins People do pay more for them, so I partially agree with the value part, but they are of very poor quality.