<< <i>I collected U.S. gold coins and had to learn authentication real fast by buying several reference books on the subject and by studying them. It was a rare coin show where I didn't find at least one or two counterfeit gold coins. Don't forget that all coins were raw back then. I would tell the dealer and they would remove them from their case and then would usually put them back in their case after I left their table. Over grading was rampant, harshly cleaned and whizzed coins were very common, and there were numerous counterfeits in the marketplace. The professional third party grading and authentication services are extremely popular with collectors for a reason. And yes, there were many good dealers that I bought from once I finally figured out who they were. As an example, I bought many coins from J J Teaparty who always gave accurate descriptions and grades in their written ads. >>
(Bolded portion for emphasis)...Imagine that. Actually having to LEARN something about a hobby before just willy nilly spending your money...wow, what a concept! >>
Even after reading and studying several reference books, I was no expert and still appreciate the services offered by the leading grading services. Do you consider yourself to be a top expert grader and authenticator?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
In my particular area of collecting, yes, I am satisfied that I know what I'm buying. If I make a mistake then so what? I collect for enjoyment not profit anyway.
I will guarantee, however, that even now in the age of 3rd party grading anyone who depends strictly on numbers on a lable--yes, even one with PCGS printed on it--instead of learning at least a minimum amount about what he is buying (or from whom he is buying) will lose his shirt when he tries to resell his accumulation. This has not changed a bit since "the bad old days".
Just because I'm old doesn't mean I don't love to look at a pretty bust.
<< <i>In my particular area of collecting, yes, I am satisfied that I know what I'm buying. If I make a mistake then so what? I collect for enjoyment not profit anyway.
I will guarantee, however, that even now in the age of 3rd party grading anyone who depends strictly on numbers on a lable--yes, even one with PCGS printed on it--instead of learning at least a minimum amount about what he is buying (or from whom he is buying) will lose his shirt when he tries to resell his accumulation. This has not changed a bit since "the bad old days". >>
If you buy the right coins at the right price you can still lose your shirt when you sell them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
1909 SVDB was the ultimate coin to find in the early 60's.I never found one but I know someone who did.The local pharmacist found one in some rolls he got from a Nebraska bank.It was lustrous,very close to uncirculated.
As has been mentioned,the higher grade (XF,AU and Unc) earlier material (WL half,SL quarter,Mercury dime,Buffalo Nickel,teens Lincolns) were noticeably absent from circulation.An extremely well-worn Mercury dime dated 1916 was occasionally seen in circulation.Standing Liberty Quarters were usually missing the date or very close to missing the date,same with Buffalo Nickels unless from the '30's.By 1964,full date Buffalo Nickel from the '30's was a pretty good find as there was lots of competition to find those collector coins for face value only.
I never found an IHC in the countless rolls I checked.I did find a nice 1922-D.My mom found a 1910 Lincoln that had gobs of mint red.
One great thing about collecting these days is the availability of the high quality holder to hold and display your treasure, no matter whether a circulation find or purchased.
Saflip
Whoever is careless with the truth in small matters cannot be trusted with important matters.
I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime. A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong!
<< <i>I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime. A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong! >>
I think I do remember anecdotal reports in that era the silver was still circulating in some locations like Alaska particularly. It really didn't make sense in most of 1968 to pull silver out of circulation. If you wanted to invest in silver your money went further buying silver bars which were more saleable anyway and required far less effort than picking through pocket change. The FED started pulling silver in mid-'68 when the price got up over the face value. This had happened before as well but didn't last the first time.
The make up of coins in a given area is pretty complicated since demand for additional coin will vary across the country and these trends can last for years as the coins in circulation locally mix with those in neighboring regions and nationally.
In the Chicago area there was still some silver in circulation in early '68 but it was only about 5% and it was heavily overrepresented in 1964 dated coinage made in '65 ban '66. By the middle of 1969 it was all gone and the FED stopped screening for silver. They retrieved on- ly some 10% of what had been in circulation and most of it was melted into huge .900 bars.
<<I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime. A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver!>>
Long after clad quarters were the norm in Massachusetts, clad dimes were very scarce. Yet 250 miles north in Bangor, Maine clad dimes were very numerous. Eventually clad dimes took over in Massachusetts, but few were dated 1965.
The mid-to-late 60's was a great time to collect! With 90% circulating silver quickly on the way out, everyone always looked closely at their change for hidden treasures. It was a magical time for collectors.
At about 10 years old, I because seriously interested in coins. I had three older brothers who worked either retail, or gas stations jobs, in Seattle. They would bring home coins and let me pick through them each evening. I found numerous Mercury dimes, of course. On average, 50 random dimes would usually yield 4 or 5 Mercs. I'd also snag Franklins and Walkers, along with shiny '64 Kennedys. I'd snag just about everything that looked 'different'. Man that was fun!
Oddly enough, in never found a Buffalo nickel, although I did find a single Shield nickel, worn down to virtually basal state, in about 1970. Never located a single Indian Head Cent, either. Sort of strange.
I also vividly remember seeing Morgan and Peace dollars circulating, during vacation trips through Montana in the mid-60s. Only saw them in MT for some reason, and I couldn't quite afford to save them. In those days, a buck was a lot of money!
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
<< <i>I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime. A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong! >>
I think I do remember anecdotal reports in that era the silver was still circulating in some locations like Alaska particularly. It really didn't make sense in most of 1968 to pull silver out of circulation. If you wanted to invest in silver your money went further buying silver bars which were more saleable anyway and required far less effort than picking through pocket change. The FED started pulling silver in mid-'68 when the price got up over the face value. This had happened before as well but didn't last the first time.
The make up of coins in a given area is pretty complicated since demand for additional coin will vary across the country and these trends can last for years as the coins in circulation locally mix with those in neighboring regions and nationally.
In the Chicago area there was still some silver in circulation in early '68 but it was only about 5% and it was heavily overrepresented in 1964 dated coinage made in '65 ban '66. By the middle of 1969 it was all gone and the FED stopped screening for silver. They retrieved on- ly some 10% of what had been in circulation and most of it was melted into huge .900 bars. >>
That matches my experiences hunting for silver in rolls of quarters and dimes around Chicago. A dime roll usually yielded 2 silver dimes on average (4%). If I hunted in northern Vermont, 6-8% of dimes would be silver. Cent hunting was better there as well; I even found IHC's in rolls. One of the best ways to find silver back then was to go to parks with a metal detector, but a good detector was expensive ($200 for a Whites Coinmaster). I recall seeing guys working parks and collecting $10-15 face in silver coins along with hundreds of pennies.
By 1970, silver percentages had dropped to below 1%.
In middle and high school, I was doing lawns and had more money than I could have imagined: $20, $30, even $40 dollars at the high water marks. At that point, an adult collector (who has long since passed) who worked with my Dad, Bob Mark, stated I should invest in high grade uncirculated (or BU) coins. So, I embarked on a collection of BU Washington Quarters – which were in a Whitman Deluxe folder (transferred to the two Capital holders about ten years ago). They were purchased from Sage Coins, 196 North York, Elmhurst IL. Sid and Ethyl Katz were the proprietors (only saw Sid a few times until he died and Ethyl took over) – wonderful people. Each month, Sage would run a sale which usually included a PDS set of quarters. I still have the clipped ads from the Chicago Tribune. Those are very fond memories - Mr. Mark was busy assembling centennial coinage in anticipation of 1976. He wound up making a very handsome profit when the bicentennial hit. I remember Ethyl stating she would be happy buying back the coins he had kept, but Mr. Mark kept the nices ones for himself and paid for them by selling the others. >>
I used to visit Sage Coins as well in the late '60's and early 70's. Bought a 1968-S proof set there for $20 because Coinage Magazine said they'd be a great investment. When not buying Lincolns, I would hit their junk boxes for Barber coins and silver dollars. Nice folks.
<< <i>I remember collecting in the 1960's and consider them to be the bad old days. There were no professional third party authentication or grading services at that time. The marketplace had many counterfeits (especially gold coins and key dates with added mint marks), over-graded coins, doctored coins, etc. As an example, I remember see a dealer at a coin show selling a highly polished classic commemorative coin as being a proof coin. New collectors had to pay their dues and it was very expensive. It was because of these gross rip offs and abuses that third party grading became extremely popular. >>
I was a YN in the 1960s, and I did not see things as being this bad. Yes, there were dues to pay just as there is today, but there were dealers who were ready to help me as a young collector to learn the ropes. Yes, there were crooked dealers who out to get you, but I didn't deal with them. I paid more but it was worth it.
<< <i>The 1960's was the pre-internet era and most collecting was done by mail order using dealer price lists and ads in the usual coin publications. Usually there were no pics and one had to depended on the dealer's grading and their written descriptions. One could waste a lot on postage returning over graded, misdescribed problem coins before discovering those few dealers that that you could trust to buy from. With PCGS and NGC slabbing and good internet pics on dealer web sites, buying mail order coins is far less of a crap shoot. These are truly the good old days for coin collectors. >>
This pretty well sums up why I purchased virtually no coins by mail in the 1960s, and explains why I buy very few coins before I see them today. When you buy sight unseen, you are at the mercy of the seller, and certification, including CAC, improves the situation a bit, but it does not remedy it. >>
Lucky was the new collector in the 1960's that lived near a good coin shop, had nearby coin shows, and had a local coin club where he could be mentored by some experienced collectors. Not every new collector was so lucky. >>
I lived in rural Delaware, and my only contacts with coin dealers came when my father took me to Philadelphia, Pennsylvania when he took is one day business buying trips. There were no local shops south of Dover, Delaware, and few times I visited it, I was not impressed. There were no local clubs and no experienced collectors. My mentors were the guys who manned the counter at Gimbels department store. Their prices were on the high side for the time, and some of their coins were over graded, but the education I got from the dealers there and the books I bought from them were invaluable. They offered me a job there when I was 16 years old.
I attended my first coin show when I was a senior in high school. It was held at an Elks lodge in Salisbury, Maryland, and there were maybe 15 dealers there. One guy had some really expensive and unusual stuff like 1793 Wreath cent that had everyone in a tether. I never got to see it.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Finding buffs and $ilver in rolls in the mid 60's was a pastime as a 7 year old kid. The banks went from paper coin rolls to clear plastic to see the silver more easily. good times
In the early 60's my father invested in a coin operated laundry. I remember sitting in the floor at home and rolling bags of halves, quarters dimes and nickels. There were lots of obsolete designs in circulation, but most were heavily worn, particularly the SLQs and the Buffaloes. I pulled my first Columbian Expo half from one of those bags. I still have it in the drawer somewhere. It stood out because it was AU'ish. Somebody must have spent something which had been put up for a long time. I occasionally saw common Peace dollars and Morgans, but that's what they were....common.
My grandfather gave me a vf 92-cc, which was my first collectible coin. When clads were issued, he started salting away silver (like everyone else) and soon had a cigar box full of 64 Kennedy halves. One of my first trips to a coin dealer was on an outing to NYC, where I visited the shop in Macy's. I used my allowance to buy a gem 55 Franklin. I've still got a few bags of SLQ's, Merc's, Indians and Buffaloes in the safety deposit box. There are no collectors coins there, just childhood memories.
Developing theory is what we are meant to do as academic researchers and it sets us apart from practitioners and consultants. Gregor
Comments
<< <i>
<< <i>I collected U.S. gold coins and had to learn authentication real fast by buying several reference books on the subject and by studying them. It was a rare coin show where I didn't find at least one or two counterfeit gold coins. Don't forget that all coins were raw back then. I would tell the dealer and they would remove them from their case and then would usually put them back in their case after I left their table. Over grading was rampant, harshly cleaned and whizzed coins were very common, and there were numerous counterfeits in the marketplace. The professional third party grading and authentication services are extremely popular with collectors for a reason. And yes, there were many good dealers that I bought from once I finally figured out who they were. As an example, I bought many coins from J J Teaparty who always gave accurate descriptions and grades in their written ads. >>
(Bolded portion for emphasis)...Imagine that. Actually having to LEARN something about a hobby before just willy nilly spending your money...wow, what a concept! >>
Even after reading and studying several reference books, I was no expert and still appreciate the services offered by the leading grading services. Do you consider yourself to be a top expert grader and authenticator?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I will guarantee, however, that even now in the age of 3rd party grading anyone who depends strictly on numbers on a lable--yes, even one with PCGS printed on it--instead of learning at least a minimum amount about what he is buying (or from whom he is buying) will lose his shirt when he tries to resell his accumulation. This has not changed a bit since "the bad old days".
<< <i>In my particular area of collecting, yes, I am satisfied that I know what I'm buying. If I make a mistake then so what? I collect for enjoyment not profit anyway.
I will guarantee, however, that even now in the age of 3rd party grading anyone who depends strictly on numbers on a lable--yes, even one with PCGS printed on it--instead of learning at least a minimum amount about what he is buying (or from whom he is buying) will lose his shirt when he tries to resell his accumulation. This has not changed a bit since "the bad old days". >>
If you buy the right coins at the right price you can still lose your shirt when you sell them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>Today we have plastic, stickers and NCLT. It's not fun anymore. >>
Are you saying it was last fun for you in 1964? 'Cause if so, you might think about finding a new hobby. >>
I have several other hobbies, all of which are now more important than coin collecting. >>
Well, at least you still find the time to bring occasional rays of sunshine to coin collectors and the forum
Liberty: Parent of Science & Industry
As has been mentioned,the higher grade (XF,AU and Unc) earlier material (WL half,SL quarter,Mercury dime,Buffalo Nickel,teens Lincolns) were noticeably absent from circulation.An extremely well-worn Mercury dime dated 1916 was occasionally seen in circulation.Standing Liberty Quarters were usually missing the date or very close to missing the date,same with Buffalo Nickels unless from the '30's.By 1964,full date Buffalo Nickel from the '30's was a pretty good find as there was lots of competition to find those collector coins for face value only.
I never found an IHC in the countless rolls I checked.I did find a nice 1922-D.My mom found a 1910 Lincoln that had gobs of mint red.
One great thing about collecting these days is the availability of the high quality holder to hold and display your treasure, no matter whether a circulation find or purchased.
Saflip
Whoever is careless with the truth in small matters cannot be trusted with important matters.
A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong!
Successful BSTs with: Grote15, MadMarty, Segoja,cucamongacoin,metalsman.
<< <i>I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime.
A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong! >>
I think I do remember anecdotal reports in that era the silver was still circulating in
some locations like Alaska particularly. It really didn't make sense in most of 1968
to pull silver out of circulation. If you wanted to invest in silver your money went further
buying silver bars which were more saleable anyway and required far less effort than
picking through pocket change. The FED started pulling silver in mid-'68 when the price
got up over the face value. This had happened before as well but didn't last the first time.
The make up of coins in a given area is pretty complicated since demand for additional
coin will vary across the country and these trends can last for years as the coins in circulation
locally mix with those in neighboring regions and nationally.
In the Chicago area there was still some silver in circulation in early '68 but it was only about
5% and it was heavily overrepresented in 1964 dated coinage made in '65 ban '66. By the
middle of 1969 it was all gone and the FED stopped screening for silver. They retrieved on-
ly some 10% of what had been in circulation and most of it was melted into huge .900 bars.
A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver!>>
Long after clad quarters were the norm in Massachusetts, clad dimes were very scarce. Yet 250 miles north in Bangor, Maine clad dimes were very numerous.
Eventually clad dimes took over in Massachusetts, but few were dated 1965.
The mid-to-late 60's was a great time to collect! With 90% circulating silver quickly on the way out, everyone always looked closely at their change for hidden treasures. It was a magical time for collectors.
At about 10 years old, I because seriously interested in coins. I had three older brothers who worked either retail, or gas stations jobs, in Seattle. They would bring home coins and let me pick through them each evening. I found numerous Mercury dimes, of course. On average, 50 random dimes would usually yield 4 or 5 Mercs. I'd also snag Franklins and Walkers, along with shiny '64 Kennedys. I'd snag just about everything that looked 'different'. Man that was fun!
Oddly enough, in never found a Buffalo nickel, although I did find a single Shield nickel, worn down to virtually basal state, in about 1970. Never located a single Indian Head Cent, either. Sort of strange.
I also vividly remember seeing Morgan and Peace dollars circulating, during vacation trips through Montana in the mid-60s. Only saw them in MT for some reason, and I couldn't quite afford to save them. In those days, a buck was a lot of money!
Dave
<< <i>
<< <i>I didn't start collecting till I was 21 in 1965 ( too busy with sports in school). I was in the Air Force and in 1968 was stationed at Syracuse Univ. attending a language school. Upon completion I received orders to Anchorage Alaska. Before leaving Syracuse, I went to a bank and got $400 in dimes to search for silver---I was rewarded for my effort with 1 silver dime.
A month later when I arrived in Anchorage I bought $400 in dimes there. WOW what a difference I found $380.00 in silver! I joined the local coin club and told the members that we should issue a challenge in Coin World to any club in the lower 48 to match what our club could find in a week of searching for silver. They all looked at me like I was nuts---they felt silver was still in change everywhere and would be for a long time to come. They sure were wrong! >>
I think I do remember anecdotal reports in that era the silver was still circulating in
some locations like Alaska particularly. It really didn't make sense in most of 1968
to pull silver out of circulation. If you wanted to invest in silver your money went further
buying silver bars which were more saleable anyway and required far less effort than
picking through pocket change. The FED started pulling silver in mid-'68 when the price
got up over the face value. This had happened before as well but didn't last the first time.
The make up of coins in a given area is pretty complicated since demand for additional
coin will vary across the country and these trends can last for years as the coins in circulation
locally mix with those in neighboring regions and nationally.
In the Chicago area there was still some silver in circulation in early '68 but it was only about
5% and it was heavily overrepresented in 1964 dated coinage made in '65 ban '66. By the
middle of 1969 it was all gone and the FED stopped screening for silver. They retrieved on-
ly some 10% of what had been in circulation and most of it was melted into huge .900 bars. >>
That matches my experiences hunting for silver in rolls of quarters and dimes around Chicago. A dime roll usually yielded 2 silver dimes on average (4%). If I hunted in northern Vermont, 6-8% of dimes would be silver. Cent hunting was better there as well; I even found IHC's in rolls. One of the best ways to find silver back then was to go to parks with a metal detector, but a good detector was expensive ($200 for a Whites Coinmaster). I recall seeing guys working parks and collecting $10-15 face in silver coins along with hundreds of pennies.
By 1970, silver percentages had dropped to below 1%.
<< <i>Great thread. Great reading.
In middle and high school, I was doing lawns and had more money than I could have imagined: $20, $30, even $40 dollars at the high water marks. At that point, an adult collector (who has long since passed) who worked with my Dad, Bob Mark, stated I should invest in high grade uncirculated (or BU) coins. So, I embarked on a collection of BU Washington Quarters – which were in a Whitman Deluxe folder (transferred to the two Capital holders about ten years ago). They were purchased from Sage Coins, 196 North York, Elmhurst IL. Sid and Ethyl Katz were the proprietors (only saw Sid a few times until he died and Ethyl took over) – wonderful people. Each month, Sage would run a sale which usually included a PDS set of quarters. I still have the clipped ads from the Chicago Tribune. Those are very fond memories - Mr. Mark was busy assembling centennial coinage in anticipation of 1976. He wound up making a very handsome profit when the bicentennial hit. I remember Ethyl stating she would be happy buying back the coins he had kept, but Mr. Mark kept the nices ones for himself and paid for them by selling the others.
>>
I used to visit Sage Coins as well in the late '60's and early 70's. Bought a 1968-S proof set there for $20 because Coinage Magazine said they'd be a great investment. When not buying Lincolns, I would hit their junk boxes for Barber coins and silver dollars. Nice folks.
<< <i>"The Present is the Glorious Past of Tomorrow". Ambro51 >>
I like it ! Simple truths make my day.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
<< <i>I remember collecting in the 1960's and consider them to be the bad old days. There were no professional third party authentication or grading services at that time. The marketplace had many counterfeits (especially gold coins and key dates with added mint marks), over-graded coins, doctored coins, etc. As an example, I remember see a dealer at a coin show selling a highly polished classic commemorative coin as being a proof coin. New collectors had to pay their dues and it was very expensive. It was because of these gross rip offs and abuses that third party grading became extremely popular. >>
I was a YN in the 1960s, and I did not see things as being this bad. Yes, there were dues to pay just as there is today, but there were dealers who were ready to help me as a young collector to learn the ropes. Yes, there were crooked dealers who out to get you, but I didn't deal with them. I paid more but it was worth it.
<< <i>The 1960's was the pre-internet era and most collecting was done by mail order using dealer price lists and ads in the usual coin publications. Usually there were no pics and one had to depended on the dealer's grading and their written descriptions. One could waste a lot on postage returning over graded, misdescribed problem coins before discovering those few dealers that that you could trust to buy from. With PCGS and NGC slabbing and good internet pics on dealer web sites, buying mail order coins is far less of a crap shoot. These are truly the good old days for coin collectors. >>
This pretty well sums up why I purchased virtually no coins by mail in the 1960s, and explains why I buy very few coins before I see them today. When you buy sight unseen, you are at the mercy of the seller, and certification, including CAC, improves the situation a bit, but it does not remedy it. >>
Lucky was the new collector in the 1960's that lived near a good coin shop, had nearby coin shows, and had a local coin club where he could be mentored by some experienced collectors. Not every new collector was so lucky. >>
I lived in rural Delaware, and my only contacts with coin dealers came when my father took me to Philadelphia, Pennsylvania when he took is one day business buying trips. There were no local shops south of Dover, Delaware, and few times I visited it, I was not impressed. There were no local clubs and no experienced collectors. My mentors were the guys who manned the counter at Gimbels department store. Their prices were on the high side for the time, and some of their coins were over graded, but the education I got from the dealers there and the books I bought from them were invaluable. They offered me a job there when I was 16 years old.
I attended my first coin show when I was a senior in high school. It was held at an Elks lodge in Salisbury, Maryland, and there were maybe 15 dealers there. One guy had some really expensive and unusual stuff like 1793 Wreath cent that had everyone in a tether. I never got to see it.
The banks went from paper coin rolls to clear plastic to see the silver more easily.
good times
100% Positive BST transactions
My grandfather gave me a vf 92-cc, which was my first collectible coin. When clads were issued, he started salting away silver (like everyone else) and soon had a cigar box full of 64 Kennedy halves. One of my first trips to a coin dealer was on an outing to NYC, where I visited the shop in Macy's. I used my allowance to buy a gem 55 Franklin. I've still got a few bags of SLQ's, Merc's, Indians and Buffaloes in the safety deposit box. There are no collectors coins there, just childhood memories.
and it sets us apart from practitioners and consultants. Gregor