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Most outrageous parroted wives tales about coin collecting?
WildIdea
Posts: 1,877 ✭✭✭✭✭
Some statements that get tossed around about coin collecting, that to me, ring kinda hollow and untrue, but I hear them all the time. Blanket statements like “all the good coins have already been sent for grading” and “most have been to CAC now” are a few that bug me. I’ve heard that any OGH still around is overgraded or it would have been cracked by now. Things like this get said enough times and many start to believe them and repeat them.
What are some other good ones you hear a lot that just aren’t necessarily true or factual?
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Indian head nickels and sitting liberty. 😦
The Mint, whether way back years ago or recently, purposely make error coins so the workers either can keep or distribute.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Coin dealers wear Hawaiian shirts with mustard stains
The hobby is dying... all old men, no young collectors..... Both are totally and completely wrong. Cheers, RickO
There’s a few good ones!
How about, All blue copper is MS 70’d......
How 'bout, "Come on, the coin has to be worth a fortune, look how old the date is!"
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line."Of course it's worth a big premium!!! It's got a CAC sticker!!!"
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
One of my all time favorites is “old” cleaning, haha
If you dip it too many times you will go blind
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I only dip it until I need glasses.
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
Actually, if used correctly that is a very good description. Many like this have retoned over the years and are now entombed in our host's holders!
MPLs were made in 1917.
You'll dip your eye out!
*
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Toned gold=iodine.
Could very well be true and absolutely the case, if like you said, used correctly, but old doesn’t make it less cleaned and toning can be helped. I mostly see it as a cover story for a formerly original or a problem coin. This gets way overused and parroted as a selling technique, IMO.
The use of old in general is immediately suspect to me. Old collection, old find, old cleaning, old spot removal, old grading standards, old pricing, old you name it. When someone says old in front of a sentence description, it’s basically smoke and mirrors. Take old out of the sentence and you’ll be able to evaluate the coin for what it is. Old alone doesn’t offer or add any factual timeline, relevance, value or perspective.
The value will go up for sure. Buy it as an investment.
Smitten with DBLCs.
I'll pass, it's a "low end" 67.
I told paralegal friend about CAC. She thought it crazy, zany, especially material with huge premiums. She said “why would anyone pay that with down market?”
That you can strike perfect high relief St. Gauden's coins from rusty collapsing dies.
"Buy the best that you can afford."
Often wise but not always. Sometimes values get stretched out of line with each other and the "best" just isn't a good value compared to something nearly as good but much cheaper. For many, a MS 65 at x price is a better deal than an MS 67 at 10x or 20x.
"Buy the book before the coin."
I have almost never done this and not paid huge "tuition". Generally this sounds like a good idea but in reality I've bought a few items (sometimes unwanted but part of a group), bought a few more, then decided that I wanted to become more involved in a collecting area and THEN bought the book. It's OK to "get you feet wet" by buying a few inexpensive items to see if an interest is there and THEN educate yourself as your interest (and purchases) increases.
Worse, almost all coins are priced in with this imaginary premium.
True but it's particularly egregious when there's a CAC sticker involved.
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
Thanks for the posts everyone. I'm enjoying the comments. Serious tone of some but the funny ones are the best. The mustard shirt one had me rolling.
How about, For a profit or at least break even, it's best to hold on for the long term.......I hear this a lot, and it might not hurt if your gonna simply consign them to auction at some point, but I see coins move around a coin show all weekend and likely everyone made a little. It's more about knowing your market, who the buyers are, where in the food chain you bought it and where you can take it from there. Hoping the market will move in your favor over time is just guessing.
I heard a wife say her hubby kept his collection in the freezer down stairs cause he wanted cold hard cash. go figure
A penny is 1 cent, a nickel 5 cents, etc. Any more is “non-cents”
"Remember, they don't make them anymore!" May be true, but the coin is readily available.
"Got a flaming heart, can't get my fill"
Classic Commemoratives were not ment to circulate. You will not find any circulated ones. Common comments from dealers at shows
Lafayette Grading Set
These bicentennial coins were only made for one year. Someday they’ll be super valuable.
If you inherit a stamp collection it's probably worthless, on the other hand, an inherited coin collection is big money.
The only thing that counts is today. I'd like to hear the billionaires like Ray Dalio and Bill Gates whose father was into pms and their take on numismatics; both my brother and Gary North said to get out of it.
"those hairlines are just from an old cleaning with a chamois cloth!!!"
Reminds me of "That's not wear. That's cabinet friction."
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
It must be valuable, look how old it is!
It must be valuable, I've never seen one like it!
"Every coin should be slabbed!"
Coins in da water, sharks in da water. Farewell my Spanish lady😱
That it’s a symptom of AS (Aspergers Syndrome).
“The survival rate of moderns is 100%”
“The SBA dollar would have made it if it didn’t resemble a quarter.”
Even when the coin in the holder falls short of the grade.
George Washington gave up his silverware to supply the silver that was used to make the 1792 half dismes.
What cracks me up are coins with a CAC that are uglier and skankier than a comparable coin without the CAC (both are same grade PCGS) but that have the CAC coin with a 20% premium or more.
I just bought a really nice 1904 $20 PCGS MS64+. The CAC version was $300 more and for that price, you also got a few more nicks and ticks on the face of the coin....Wow, what a deal.
This could be the new slogan: CAC is Wack. Ok, that doesn't roll off the tongue quite like I thought.
Most outrageous wives tale about coin collecting is that wives know how much husbands spend on coin collecting
8 Reales Madness Collection
Aint that the truth!
It's from an old collection, so it has to be real.
"Price is negotiable, grade is not"
Buffalo Nickel Digital Album
Toned Buffalo Date SetDigital Album
Something that’s always bothered me is the belief that the PCGS Graders are out to get you.
Not the case people.
Also the belief that certain people get better grades than other people because of who they are.
Also not the case people.
"How many were printed?"
“It’s priced just $5 over my cost.”
This coin came from my grandad’s attic.
I won't come down in price because I can't keep them in inventory.
(said before I reminded him that he has had it for over 6 months)
My Saint Set