Poll - For Classic coins, do you prefer : Circulated, Mint State, or Proof?

TopographicOceans

For my type set, I have a combination of all three.

Some proof coins have very low mintages and are still reasonably priced.
For early classic coins, Mint State are very expensive.
I'm thinking about rebuilding my type set to change MS and proofs to circulated (AU if affordable)

I think AU-58 is the best grade because it has the extra factor of being used by the people of the era, but still has nice detail.

Baley

I buy the grade that makes sense to me, for more recent coins, Gems or Proofs, for mid-range coins, nice Uncs or AUs, for early, rare expensive coins, they might be VFs or VGs or even, gasp, something like Fine details, damaged. It all depends on the best value and fit into the overall theme.

ms70

My collection is a mix of circulated & MS. As much as I ponder who was the caretaker of the MS ones for 150 or more years, I still like to think about where the circulated ones have been. Was it a week's pay for someone? A day's pay? Did it get dropped on a bar room floor or used in a brothel? I look at the wear on the circulated ones as their ownership of history.

stevepk

It depends on what I can afford. My type set Mercury Dime is graded MS66. My flowing hair half dollar for the type set is graded VG8. I would love a flowing hair half dollar in MS66, but it would cost over $400,000. It all depends on what is available. Typically, the older coins of my collection are in poorer condition than the more modern coins in my collection due to price. I try to find the spot before a major spike in value. I usually buy a coin for the look rather than the grade, however. I would rather have a completely original XF coin than a washed-out and dulled AU coin.

I do have a classic head half cent in MS64 and a coronet large cent graded MS62, but they had exceptional eye appeal and were priced just right, so there are a few exceptions to the rule of older coins being in poorer condition. It all depends on the scarcity of the series in higher coins. These two just happened to be hoard coins. Had there never been hoards found, I would probably have no better than XF examples. My type 1 double eagle is graded XF40 because of the scarcity of mint-state type 1 double eagles. My type 2 is graded AU58 and my type 3 is graded MS62. Every coin has a unique history. There is a story behind why every 100+ year-old coin is available today in the condition it is. That's half the fun of collecting.

AU58 is often the 'sweet spot' for coins of the mid to late 19th century onwards, but there are plenty of exceptions. The three dollar gold piece is one of these exceptions. There is a large price spike between AU55 and AU58, so I went with an AU55.

To claim to collect coins in AU58 is an over-simplified strategy unless you are targeting one specific series. Even then, conditional rarities will make it extremely difficult to stick to one grade. Eye appeal should weight more heavily than grade. I've seen plenty of MS62 graded coins that look better than MS64 coins. You cannot tell me you will reject a beautiful MS62 coin that is priced just right on the basis it is not an AU58 unless it is a conditional rarity in mint state. You might even find a AU55 coin that looks better than an AU58 counterpart.

I have one proof seated liberty coin in the type set and bought it because of the eye appeal.

TommyType

I went with "Mint State" more as a wish than reality.....As noted by others, circulated is more financially viable.



As for Proofs....for a reason I can't quite describe, I place them in a totally separate category. They are RELATED to mint issued coins, but somehow not the same to me. They weren't intended for circulation, and therefore don't have the same historical significance to me. They're almost like fantasy representations of the real thing....



(Yes, you can make very persuasive and valid arguments that I'm completely nuts....but it probably won't change my mind).

BryceM

Proofs were made for collectors and I have almost zero interest in them. For some reason, I'd rather collect things that weren't intended to be a collectible. I harbor no malice to those who do.



I have a US type set, and I generally try to spend roughly the same amount on each coin. Sometimes that means I can afford an MS68 and sometimes that means I can afford an F12. Within a series I try to keep things fairly consistent (all the Seated or Barber denominations should have roughly the same look). I try to not go lower than F12, as the design elements start to disappear. Some of my favorites are circulated pieces. My design breaks down when it comes to chain cents, early gold, and such...... Perhaps that's why I don't have those yet.

CoinPhysicist

As much as I like Baley's profile picture, I also like his response. It's simple and I 100% agree. I would add that it might even be an AG instead of a VG or F. Yeah it is extremely rare that I would want to own an AG, but sometimes given the budget, that is the best coin one can afford.

mannie gray

Originally posted by: TommyType

I went with "Mint State" more as a wish than reality.....As noted by others, circulated is more financially viable.



As for Proofs....for a reason I can't quite describe, I place them in a totally separate category. They are RELATED to mint issued coins, but somehow not the same to me. They weren't intended for circulation, and therefore don't have the same historical significance to me. They're almost like fantasy representations of the real thing....



(Yes, you can make very persuasive and valid arguments that I'm completely nuts....but it probably won't change my mind).

Well, then we're both nuts because I agree with you.

JeffMTampa

I prefer gently used coins that briefly served their true purpose in our economy. To me a Proof Coin looks a bit like a Medal- a product that wasn't meant to serve commerce....



But that's just me.

DIMEMAN

Originally posted by: totally
As much as I like Baley's profile picture, I also like his response. It's simple and I 100% agree. I would add that it might even be an AG instead of a VG or F. Yeah it is extremely rare that I would want to own an AG, but sometimes given the budget, that is the best coin one can afford.

+1

There needs to be another vote "depends on series and/or rarity" button.

Barndog

I would select "YES" if that choice were offered

ambro51

There is a warm sweetness to a well circulated coin

TomB

I prefer a superb coin. It doesn't matter if it's a VG8, MS64 or PR66 as long as it is superb.

oih82w8

I agree with the AU58 grade with Classic American coinage...just a touch of circulation, the way coins were meant to be...used in commerce. There are going to be several 19th Century Type coins in my Everyman Set which will not be AU58...initially, but I hope to get there eventually.

ricko

Generally, I prefer circulated... for the reasons above - history, who may have handled them and where.... As with any form of art, I enjoy looking at proofs too....Cheers, RickO

johnny9434

i prefer the circulated coins most of the time. they got their own tale to tell if you will

Yorkshireman

It is very ironic that this thread is posted today. I am agonizing over that very question right now. I have long preferred AU coins because they still look good but were spent a few times, as coins were meant to be.



However, I am trying to figure out how to take my collection to the next level. I ask myself the question over and over again: What's next?



Do I buy more rare coins in XF-AU grades? Upgrade to Mint State? Switch to Proof? Is Proof in enough demand for appreciation potential?



I only want eye appealing classic coins but I would like my children to be able to sell them in 20 or 30 years for more than I paid for them. I will be reading the responses here with great interest.



(For the sake of full disclosure, I did not vote in the poll. I simply don't know at the moment!)