What questions would you ask a coin expert if you could ask him or her anything?
RYK
Posts: 35,799 ✭✭✭✭✭
RYK
Posts: 35,799 ✭✭✭✭✭
Comments
How should coins and money evolve in the rest of the century?
EAC 6024
Lance.
I am all questioned out currently and all I can do is try and play it forward to people who come to me with questions, unless they are a creep.
<< <i>I am in awe every time I go to a LCSS meeting. >>
What is this "LCSS" you speak of? It sounds like a good organization to join
Hoard the keys.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>
<< <i>I am in awe every time I go to a LCSS meeting. >>
What is this "LCSS" you speak of? It sounds like a good organization to join
It is too exclusive, I can maybe put in a good word for you.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
double eagle acquire its gouges (in the obverse field around star 1)?"
I asked this question of four Grade A certified Coin Experts™, and there
was no definitive answer. It was a fun conversation, though!
Latin American Collection
Some questions I haven't asked him, though, include:
How can we convince people that dipping is doctoring?
How can we get more collectors to just say NO to doctored coins so that they lose their foothold in the marketplace?
How can we increase the popularity of colonial era and foreign coins that circulated in early America among "mainstream" collectors?
I have more...
<< <i>
<< <i>I am in awe every time I go to a LCSS meeting. >>
What is this "LCSS" you speak of? It sounds like a good organization to join
'LCSS' (aka LSCC) is for people who can't get into EAC or JRCS.
Sort of like MIT being a fallback in case you can't get into Caltech.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
How do you forecast the coin market cycles of which you write in your "Collecting & Investing" book?
As someone who has worked for almost 30 years in the investment advisory business, I have been around long enough to see patterns and cycles in the capital markets. Coin cycles still baffle me.
Question for gold collectors/dealers:
Colorfully toned silver coins are very popular. Why is toned gold not more appreciated?
As a member of the LSCC, I too am in awe of the knowledge in the room at group meetings AND how available those who possess that knowledge are willing to share it.
Cost keeps many collectors out of the gold coin market. Many who buy gold coins actually buy generic gold (they hedge their bets regarding value by purchasing pieces that have relatively modest numismatic premiums), and these buyers mostly want coins with no copper spots. Hence, a lot of dipping has occurred. More astute collectors with big enough wallets seem to prefer toned gold.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>'Why is toned gold not more appreciated?'
Cost keeps many collectors out of the gold coin market. Many who buy gold coins actually buy generic gold (they hedge their bets regarding value by purchasing pieces that have relatively modest numismatic premiums), and these buyers mostly want coins with no copper spots. Hence, a lot of dipping has occurred. More astute collectors with big enough wallets seem to prefer toned gold. >>
+1 and it's a shame.
Latin American Collection
<< <i>Why can't the US Mint produce MS 70 quality business strike coins? >>
Ahhh but they do, you just would not want to spend them.....
I got this result yesterday.
Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 28636268 393327 2008 $50 American Buffalo USA MS70
<< <i>
<< <i>Why can't the US Mint produce MS 70 quality business strike coins? >>
Ahhh but they do, you just would not want to spend them.....
I got this result yesterday.
Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 28636268 393327 2008 $50 American Buffalo USA MS70 >>
I don't know if the Gold Buffalos count since they are not circulated coins.
I have also talked with via phone and email with many of the highly sought after error experts, they have always been extremely helpful and cool to talk with.
That said, I would love to sit down to lunch and have a long conversation with Fred, Tom, Jon, and Mike.
<< <i>'Why is toned gold not more appreciated?'
Cost keeps many collectors out of the gold coin market. Many who buy gold coins actually buy generic gold (they hedge their bets regarding value by purchasing pieces that have relatively modest numismatic premiums), and these buyers mostly want coins with no copper spots. Hence, a lot of dipping has occurred. More astute collectors with big enough wallets seem to prefer toned gold. >>
Of course there is the cost factor. That certainly effects my buying decisions. It is just that I love the look of toned gold, but hardly ever see it, except maybe on Doug Winter's site.
<< <i>id like to ask walter breen a few questions, not so much about coins ..... >>
With Breen, I would limit my questions to coins and coins only.
variety experts, token experts, grading experts.......But if you go to a show, everyone you bump into is
an expert, really........all you have to do is ask them, and they will tell you, there an expert
Steve
In a post on the PCGS board titled "What questions would you ask a coin expert" a member (Zoins) asks:
"Can I get a copy of your mint research records... to RWB"
You will need a van or pickup truck for the papers and books, and a multi-terabyte computer drive for the electronic files. The paper is arranged by subject and every page has its NARA location printed on it. Electronic files are similarly marked, but maintained in separate entry groupings to match the NARA archive.
Actually, the key is a 20-page index built over the last 15 years showing the contents of many of the US Mint files at College Park and Philadelphia. The helps me avoid relying on memory (often faulty) to locate something, and makes it much easier to get to the right material without sifting through extraneous entry groups and boxes.
Also:
This question also was asked:
"Why can't the US Mint produce MS 70 quality business strike coins?"
In truth, they do. The circulation coins that come out of the presses are incredibly good. It is the post-striking handling that adds scrapes, knicks, bumps and other damage to the freshly made coins. I've personally compared halves and quarters right from the press, with the ones that are shipped to the distribution companies. About half of the damage occurs at the mint and half at the distributors during handling and rolling.
Surprisingly, a major culprit in damaging coins is the edge reeding. On a new coin, these are very sharp – knife-like – and easily cut, scrape, and ding the face of any other coin they touch. This is especially noticeable on halves due to their greater weight than dimes and quarters. Pieces struck on the Schuler horizontal presses seem to show more of this type of post-strike damage than older vertical presses…possibly from the way they exit the press. These are just my observations and no careful study was done.
For those of you who don't remember, Roger was on the CCAC several years ago.
Check out the Southern Gold Society
Experience the World through Numismatics...it's more than you can imagine.
<< <i>Why can't the US Mint produce MS 70 quality business strike coins? >>
That's easy. The mint system has to produce billions of every for use in the economy, not for coin collectors. Besides for classic coins the grading services are hard pressed to give a grade higher than MS-67 regardless how close the are from the way they were the day the were struck.
<< <i>Colorfully toned silver coins are very popular. Why is toned gold not more appreciated? >>
The gold toning results in many, many cases from silver coins that the been dipped and not totally rinsed. "Gold toned" silver coins were popular for a while in the early 1980s. Then collectors figured out the source, the interest declined.
Oops! I misread that one. Many collectors don't like copper toning, not even rich, even coppery gold toning.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>This question also was asked:
"Why can't the US Mint produce MS 70 quality business strike coins?"
In truth, they do. The circulation coins that come out of the presses are incredibly good. It is the post-striking handling that adds scrapes, knicks, bumps and other damage to the freshly made coins. I've personally compared halves and quarters right from the press, with the ones that are shipped to the distribution companies. About half of the damage occurs at the mint and half at the distributors during handling and rolling.
Surprisingly, a major culprit in damaging coins is the edge reeding. On a new coin, these are very sharp – knife-like – and easily cut, scrape, and ding the face of any other coin they touch. This is especially noticeable on halves due to their greater weight than dimes and quarters. Pieces struck on the Schuler horizontal presses seem to show more of this type of post-strike damage than older vertical presses…possibly from the way they exit the press. These are just my observations and no careful study was done.
For those of you who don't remember, Roger was on the CCAC several years ago. >>
I disagree.
Having actually operated a US Mint coin press, with a US Mint reeded-edge quarter collar, to strike US Mint copper-nickel clad blanks (that were legally monetized and retrieved from circulation), I can say without reservation that the main limiting factor in the initial grade is the planchet quality. Circulation-quality US Mint blanks have a slightly greasy feel, and typically have bag marks on them. When I struck a few of them, I used tongs to place the struck pieces in a velvet tray for inspection. They never contacted anything else (or each other). But right out of the press they graded no better than MS64. Planchet marks were not fully struck out on the higher devices, and they looked like post-strike bag marks. The greasy coating also limited the luster. Burnishing the blanks prior to striking (as well as striking them harder and/or more times) significantly improves the grade. Of course, the US Mint does not do that for circulation coins.
<< <i>
<< <i>This question also was asked:
"Why can't the US Mint produce MS 70 quality business strike coins?"
In truth, they do. The circulation coins that come out of the presses are incredibly good. It is the post-striking handling that adds scrapes, knicks, bumps and other damage to the freshly made coins. I've personally compared halves and quarters right from the press, with the ones that are shipped to the distribution companies. About half of the damage occurs at the mint and half at the distributors during handling and rolling.
Surprisingly, a major culprit in damaging coins is the edge reeding. On a new coin, these are very sharp – knife-like – and easily cut, scrape, and ding the face of any other coin they touch. This is especially noticeable on halves due to their greater weight than dimes and quarters. Pieces struck on the Schuler horizontal presses seem to show more of this type of post-strike damage than older vertical presses…possibly from the way they exit the press. These are just my observations and no careful study was done.
For those of you who don't remember, Roger was on the CCAC several years ago. >>
I disagree.
Having actually operated a US Mint coin press, with a US Mint reeded-edge quarter collar, to strike US Mint copper-nickel clad blanks (that were legally monetized and retrieved from circulation), I can say without reservation that the main limiting factor in the initial grade is the planchet quality. Circulation-quality US Mint blanks have a slightly greasy feel, and typically have bag marks on them. When I struck a few of them, I used tongs to place the struck pieces in a velvet tray for inspection. They never contacted anything else (or each other). But right out of the press they graded no better than MS64. Planchet marks were not fully struck out on the higher devices, and they looked like post-strike bag marks. The greasy coating also limited the luster. Burnishing the blanks prior to striking (as well as striking them harder and/or more times) significantly improves the grade. Of course, the US Mint does not do that for circulation coins. >>
Interesting, is their a variance in tonnage or striking dynamics on te different generation presses? Planchet feeding mechanisms?
<< <i>Interesting, is there a variance in tonnage or striking dynamics on the different generation presses? Planchet feeding mechanisms? >>
Feeding mechanisms vary widely, but the striking dynamics are all the same. The total stamping force on mechanical coin presses is a result of many factors.
Think of the upper die as a piston in a car engine. If you make the piston longer, you get more compression. So on mechanical presses you first guess at the spacing, do a test strike or two, and adjust the length of the upper anvil until you get the desired strike. The resultant strike tonnage comes from that.