Some say "Finest Known" is nonsense because there are unknowns' in albums.
Realone
Posts: 18,519 ✭✭✭✭✭
Therefore because they aren't in plastic (pcgs or ngc) they are not in the consensus of either and consequently not counted or known. But I disagree in the case of classic coins because most collectors that have an extremely high grade specimen will most definitely put that particular coin in plastic to achieve a finest known classification to add value to their coin. Collectors aren't stupid, what's the point of a collector bothering to collect high end specimens and not going all the way, it is just added protection on future resale. What say yahall?
0
Comments
<< <i>Therefore because they aren't in plastic (pcgs or ngc) they are not in the consensus of either and consequently not counted or known. But I disagree in the case of classic coins because most collectors that have an extremely high grade specimen will most definitely put that particular coin in plastic to achieve a finest known classification to add value to their coin. Collectors aren't stupid, what's the point of a collector bothering to collect high end specimens and not going all the way, it is just added protection on future resale. What say yahall? >>
Not necessarily, there are still a bunch of wealthy old time collectors that could care less about plastic. Shoot I am starting to sound like Laura. Anyhow I am sure that when it comes time to sell they will end up in plastic but there are many finest knowns not in plastic at the moment.
As you mentioned they are hard to track and often get omitted from census. The people that need to know like the original dealers that sold them know. David Hall is also aware of many.
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don't know
We don't know.
- Donald Rumsfeld, Feb. 12, 2002, Department of Defense news briefing
My World Coin Type Set
Experience the World through Numismatics...it's more than you can imagine.
But I disagree in the case of classic coins because most collectors that have an extremely high grade specimen will most definitely put that particular coin in plastic to achieve a finest known classification to add value to their coin.
This is simply not true. I know collectors who will NEVER submit their coins for grading, at least while they are alive and kicking. On the contrary, I know collectors who have purchased the "finest certified" of a certain coin, only to crack it out for inclusion into their coin cabinet.
Using the term "finest known" can be dangerous. The grade and eye appeal of one coin to another is simply a matter of opinion. There are exceptions, such as with the 1793 NC-3 Strawberry Leaf cent, in which the finest known is F-12 and incontrovertibly better then the other three traced examples. It is okay to say "finest certified at PCGS", and then qualify that statement with an "as of 1/2008."
It is commercialism - pure and simple.
It is also a white lie, as whoever says that about a particular item doesn't really know.
that are no longer active collectors. god only knows what is tucked away in a box
for the last 20-30 years. they are not very knowledgeable about the hobby and
simply inherited them or bought them when times were good/passing fancy. a lot
of these gentleman are well to do and i meet them in antique stores/family friends/
etc...
i always ask what they have and they simply do not remember well enough to give
a clear statement about the coins.
makes me sit in bed and wonder, hmmmm
You'd be amazed by what isn't kown
<< <i>Therefore because they aren't in plastic (pcgs or ngc) they are not in the consensus of either and consequently not counted or known. But I disagree in the case of classic coins because most collectors that have an extremely high grade specimen will most definitely put that particular coin in plastic to achieve a finest known classification to add value to their coin. Collectors aren't stupid, what's the point of a collector bothering to collect high end specimens and not going all the way, it is just added protection on future resale. What say yahall? >>
the real stupidity of "finest known" as applies to pla$tic has little to do w/ "unknowns". it has to do w/ when there are 27 coins graded ms-69, & each is given the moniker of "finest known"
totally stupid.
K S
and i owning a vf25 :-)
muahaha, no one has a MS! take that your rich sons o guns ;-)
<< <i>As we know,
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don't know
We don't know.
- Donald Rumsfeld, Feb. 12, 2002, Department of Defense news briefing >>
US Government at work! lol
FINEST
FINEST KNOWN
The first is the finest specimen there is.
The second,means the coin is the finest
that is known off. Thus, it provides for the
possibility ,that a better specimen may exist.
Camelot
While technically the differences you point out are correct. However, it all depends on the comprehensiveness on the background of what is actually known - and by whom.
As an example, someone may know of a nice old wheat cent they found in circulation (example 1). Someone else may have one as well (example 2), and the first is in better condition. That means the owner of example 1 says it's the finest known - and he is correct (according to both of them).
However, the lack of knowledge about all issues is the limiting qualifier and limits the purveyor of any "Finest Known" to be presenting an opinion, similar to the subjectiveness of coin grading.
People interested in numismatics are always uncovering new pieces and learning new things; meaning we don't know everything there is to know (and probably never will). Thus, we have no valid reason to utilize the term "Finest " on numismatic items.
Not wanting to argue, this is just my take on the misleading promotional terminology in use today. It's like trying to determine the real differences of the word "Very" in Very Good and Very Fine.
<< <i>[On the contrary, I know collectors who have purchased the "finest certified" of a certain coin, only to crack it out for inclusion into their coin cabinet. >>
Boy, that sure screws with the pop reports, don't it?
60 years into this hobby and I'm still working on my Lincoln set!
Best wishes,
Pete
Louis Armstrong