What is a "Modern" Coin?
mvs7
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What is a "Modern" Coin?
This is a public poll: others will see what you voted for.
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mvs7
Posts: 1,662 ✭✭✭✭✭
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This morning's thread got me thinking about how you define "classic" versus "modern"... so please vote. I started collecting in the 1970's, and have always considered The Clad Era to be modern.
Many people consider the Presidents and Franklin to be modern but they came in different years so it's hard to pin to one date:
I voted for 2000 because I consider the multiple types per year to be modern and a big departure from past coins. Coins like the statehood quarters, America the Beautiful quarters, Presidential dollars and now innovation quarters simply didn't exist before.
I voted other. 1965 to date coins are moderns.
When I worked with a certain well-known numismatist/EAC member at Heritage (ahem, you know who you are), he considered anything post-1840 to be "modern."
Kind regards,
George
Nothing wrong with collecting modern coins, mind you.
Good call. I knew there was a big gap the options between 1916- and 1965-, but that's a good way to describe the in-between.
I edited. I hadn't seen "other".
I think people might be surprised how quickly moderns can become classics. Everything is perspective. When I started collecting in 1957 the '50-D nickel was virtually a classic and buffalos were "ancients". Now days many collectors believe buffalos are moderns.
It is entirely possible moderns will never be "classic" but only if coins cease being made.
I consider "Modern" coinage as designs that are/were existing since clad coins were minted; Lincoln Cents, Jefferson Nickels, Roosevelt Dimes, Washington Quarters, Kennedy Halves and Eisenhower Dollars...and anything minted since (SBA, Sac Dollars, etc...)
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@oih82w8 - although I said Clad Era as a generalization, I agree with this idea of "modern designs" for cents/nickels/halves though I would probably cut off with Lincoln Memorial (1959-) rather than from 1909, along with the whole Jefferson and Kennedy series.
For U.S. coins after 1836, when the steam press was introduced.
Archaic - Ancient - Medieval - Renaissance (14th - 17th century) - Early modern (16th - 19th century) - Late modern (mid-18th century)
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The beginning of geekdom. Beware the modern.
Then why wasn't that the option you chose????
I voted 1965-present. It could be because I was born in 1964.
Donato
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65 to present are modern
65 to present.
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1934 to present. Most were saved in large quantities. With the exception of a few odd items like the 1955 double die cent, it is just common material. Even the 1955 double die cent is more popular than it is scarce or rare.
Good thread.
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I tend to agree with this concept despite the fact that I voted for the "1916 and up" option. When I was a dealer, the coins from the late '30s to the present were always around. There were roll quantities of them that had been bulk graded and placed in slabs. The prices for Walkers were always going up and down depending upon the current tastes or possible dealer promotions. Coins in the mid to late '30 were tougher, but not impossible to find in MS-63 or 64.
To me the concept "modern" really cuts in with the "saved by the roll concept." A lot of coins minted prior to 1934 got killed by The Great Depession. People could not afford to set them aside because they had eat and put roof over their heads. That's why Barber coins, especially the quarter and half dollars in VF and EF are tough. Many of the pieces that collectors had set aside were spent. Once you got to 1934, saving rolls by collectors, but especaiily by the dealers became more common, that's why the coin are now available. And that's why I'd call them "modern."
I have some friends in the JRCS and BHNC that consider any coin in the post-Bust era (after 1838) to be 'modern'.
I agree with this.
It's not a date that designates something as modern, it's the design.
However, making new coins with old designs doesn't effectively make them "classics".
My type set stops at 1964.
I believe this thread is a repeat of a similar recent thread.
U.S. coins - out of long habit, I take a much closer look at coins dated before 1934 than I do coins dated after 1934. So let's say 1934. There are exceptions to this rule for overdates and such. Maybe I should adjust my date/ line in the sand.
Darkside and the Historical Big picture - 1793. The French Revolution, baby, start of modern times. Chop-off the King's and Queen's head(s) and get on with it!
Though it there anything between "modern" and "classic"? For example, I don't really consider Franklin halves to be either. I'm not sure what I consider them...
I would say anything after 1964...90% silver.
There was this interesting article: https://www.cmi-gold-silver.com/article/pcgs-ngc-coins-grading-services/
I can maybe see a value in having some moderns certified, a complete set of proof ASEs in PR70, but the premiums are going down over time.
If you have to start at a particular date, I'd say Franklin Half coinage forward.
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"Sou Mangueira......."
If it takes a steam engine to power the die strikes then it is a modern.
OKbustchaser said:
"If it takes a steam engine to power the die strikes then it is a modern."
Best answer yet! I love it.
I agree with 291fifth. 1934 is where the saving of rolls really kicked in. When I started full time in the business in 1968 we had an enormous inventory of BU rolls including Mercs, walkers, even a roll of 1931s cents. Classic commems were hoarded in large quantities by Stack’s and Bebee’s among others. 1950’s coins were available by the bags. Too many of almost everything to be classic.
Perhaps someone could explain why it matters whether something is considered Modern or Classic. What does it mean, if anything? A coin is a coin....is a coin. I think whatever one considers Modern is collected more (because its common and cheaper) than.......whatever is considered Classic. But Classics whatever are valued higher and likely certified more.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
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My dad hoarded silver when I was very young--- it was just before my time. Clad will always be modern to me for that reason and also because it has no precious metal.
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My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
IMO. Buffalo nickel was the last classic coin design.
I voted 1965-Present but I think it depends on the denomination. I could break it down as follows.
Cents: 1959-
Nickels: 1938 Jefferson-
Dimes: 1946 or 1965-
Quarters: 1932 or 1965-
Half Dollars: 1948 or 1965-
Dollars: 1936-
Gold: 1934-
Some elitists will claim anything produced by the US is definitely modern. Some will say anything in the 20th Century is definitely modern. Some people will cut things off when the US Mint started using updated presses in the 1830s. It all depends upon the person you ask. This is a question that has long been asked and you end up with many varied responses, including mine. Many responses will depend on what the person collects or cherrishes.
IF WE GO BY WHAT PCGS SAYS: MODERN IS 1965 to Date
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
To oldsters like me post 64 clad is modern but technically post 2000 should be what is now considered modern.
My view is more from a financial than a collector's perspective.
The elimination of silver from our coinage marked the final move to a fiat system. (it may have been largely symbolic, since we were in most respects there well before 1964)
Nonetheless, it also coincided with the start of a long period of inflation which has seen prices rise roughly ten fold. This inflation has very dramatically changed the "meaning" of our coinage. In 1960, a small pocketful of change had significant purchasing power. Unless you carry dollar coins, it no longer does.
Even the value of a quarter is close to trivial these days, buying what only a few cents did in the early 1960s. To me, this is the essence of the modern era.
(by the way, I don't view modern and classic as strictly opposite -- we may need more categories to do justice to our numismatic heritage!)
I agree with this completely. I would have answered 1965 to present had the op not included the insult with it. I don't support age discrimination in my hobby.
1908 to present.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Clad coinage was a great disappointment to me... having grown up with silver change. Clad has never had the 'magic' of silver, and for me, it never will. Cheers, RickO
In 1965 the 1950-D nickel was considered the king of coins.
Okay I finally voted. After reading all the comments, googling classic vs modern, finding the other thread asking about classics vs moderns, trying to define MODERN, trying to define CLASSIC, considering my age, considering the year, looking at all of time, comparing coins to cars and what makes a car a classic...modern....or antique, I voted other???? WHY? Well originally I was going to choose the most popular answer 1965-present. That's a no-brainer. When that happened there was a line drawn in the sand. Then after reading the explanations everyone replied with, I saw great arguments on all sides. I think we need a new answer now, ALL OF THE ABOVE. As time flows along, all the answers change. There is always a moment where every coin is a modern and always a moment where every coin is a classic.
That wasn't an insult. That was a quote from @Regulated in the other thread yesterday morning. Mentoring new generations is actually a very important part to this hobby. If you're old enough to remember the turn of the 20th Century, God bless you. I will still make sure to stay on the concrete path when coming to your door.
Very wise answer.
But there's always another perspective to see anything at all.
One of my favorite perspectives now days is that of a great pyramid builder. From this perspective the Great Pyramid with its uncountable nummulites is the greatest "coin" collection of all time and all coins ever made are extremely modern; some are more or less modern than others.
Any coin that modern-haters look down on.
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