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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?
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  • robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    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.
  • AUandAGAUandAG Posts: 24,894 ✭✭✭✭✭
    It's the challenge, the game.....I'm tempted but not quite yet!

    bob
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    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
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    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.
  • STONESTONE Posts: 15,275


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


    It just is image
  • TorinoCobra71TorinoCobra71 Posts: 8,055 ✭✭✭
    Most of it is due to the Registry Set Craze.....

    TorinoCobra71
    image
  • 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?
    image
    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.
    imageimageimage
  • fcfc Posts: 12,793 ✭✭✭
    because pcgs has a low ball registry set?
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <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."


  • << <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.
  • braddickbraddick Posts: 24,641 ✭✭✭✭✭
    My favorite PO01 coin:

    image

    peacockcoins

  • fcfc Posts: 12,793 ✭✭✭
    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 ;-)

    image
    image

    almost impossible to find well worn gold.
    i wonder if the more modern coins are being artificially worn down.
    !!!
  • 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.
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <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. image
  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    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.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,516 ✭✭✭✭✭
    It is the most difficult grade to achieve at PCGS
    followed closely by MS 60, then MS 70
  • zeus135zeus135 Posts: 1,043
    Always has been cool....... people are just coming out of the closet to show them now.
    My humble '63 mint registry set, not much, but it's mine!
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <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.
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    I have some FR02s that are worse then that PO01 CC Morgan... I got screwed!!!
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭


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

    Crack out candidates image
  • braddickbraddick Posts: 24,641 ✭✭✭✭✭


    << <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.

    peacockcoins

  • braddickbraddick Posts: 24,641 ✭✭✭✭✭
    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).

    peacockcoins



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



    The one I sold brought $202.50 in early 2007


    PO 01 Ike
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭
    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.......

    image"
    Some coins are just plain "Interesting"
  • fcfc Posts: 12,793 ✭✭✭
    1874 half eagle. low low gradeimage
    image

    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.
  • lordmarcovanlordmarcovan Posts: 43,685 ✭✭✭✭✭


    << <i>image
    image >>



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

    It's FR02 PQ! image



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

    Explore collections of lordmarcovan on CollecOnline, management, safe-keeping, sharing and valuation solution for art piece and collectibles.
  • fcfc Posts: 12,793 ✭✭✭
    sorry, that coin is AG03. i posted it because it is the lowest i have ;-)
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


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

    It's FR02 PQ! image >>

    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...


  • image




    image

    Larry
    Dabigkahuna
  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    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.
  • STONESTONE Posts: 15,275
    Since i haven't posted it here, here's my best PO-01 image Take care all.

    image
    image


  • << <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
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <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.
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭


    << <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 ziggyimage

    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.
    Some coins are just plain "Interesting"
  • SottySotty Posts: 373
    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.
    image
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭


    << <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.
    image >>



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

    Those furry little lemmings.......image
    Some coins are just plain "Interesting"
  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭


    << <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?
  • FatManFatMan Posts: 8,977
    I have always thought that coins with honest wear were cool.image
  • LincolnCentManLincolnCentMan Posts: 5,347 ✭✭✭✭
    I think it has to do with the hands that the coins must have passed through and the history those coins have touched.

    -David
  • ColorfulcoinsColorfulcoins Posts: 3,370 ✭✭✭
    Here's a TRUE PO01 Gold $2.5 dated 1908.............



    image
    Craig
    If I had it my way, stupidity would be painful!
  • i have a 1934-S Peace Dollar that will someday be a PO1 hopefully before i die
  • ColorfulcoinsColorfulcoins Posts: 3,370 ✭✭✭
    And here's a raw 1836 $5 that I wish was a PO01 but is probably a weak FR02:

    imageimage
    Craig
    If I had it my way, stupidity would be painful!
  • braddickbraddick Posts: 24,641 ✭✭✭✭✭

    Here is a fun thread from back in the day.

    peacockcoins

  • WalkerfanWalkerfan Posts: 9,670 ✭✭✭✭✭

    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?? :p

    Live and let live and to each his own. :#

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • blitzdudeblitzdude Posts: 6,401 ✭✭✭✭✭

    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!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????

  • jmlanzafjmlanzaf Posts: 35,815 ✭✭✭✭✭

    @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.

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭

    @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?? :p

    Live and let live and to each his own. :#

    But they do have quality and value :)

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭

    @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 :+1:

  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭

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

  • WalkerfanWalkerfan Posts: 9,670 ✭✭✭✭✭

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

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

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