Why I'll Never Upgrade My 7070 Type Album... Plus, an Uber-Original Circulated Sesqui Newp
airplanenut
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When I started collecting, the history of a circulated coin--history you could hold in your hands--fascinated me. To be clear, it still does, but my budget has also increased to the level that where a lower grade circulated coin may have one stretched my budget, I can now buy a much higher-end piece and there is a strong incentive--protection and potential resale--to keep a coin holdered. Back to my childhood, I picked up a Dansco 7070 probably around when I was 13 (whenever it was, I remember paying the extra $5 to get one that included the gold page--as if I could afford gold--was a big financial commitment).
I immediately transferred what I had in my collection to the album, including some of my most sentimentally-valued coins. There's the 1859 Indian Head Cent that I bought for $7 as a third grader. That coin was an amazing steal as an uncirculated example. Then I got my knowledgeable and realized it was just a high-end AU. Then a lower AU. Let's be honest, it was still a good price for the XF that it actually is. There's the 1917 Type 1 SLQ--a splendid grey XF--that my aunt bought for me when I was in fourth grade. It must have been $30 or so and way out of my budget. My mom had clued her in that I wanted the coin, and she went over to the local shop, picked it up, and left it on my pillow. Over the years, I put more coins in when I could. Some are lower end (maybe even with a problem or two) and reflect a time when a $10 coin was as stretch. Some are nicer (or more expensive types), added later on. The gold page isn't empty anymore. Some of the expensive slots are still empty--I've never owned a seated dollar.
Over the years, my collection diverged. As my budget increased and with it my ability to buyer nicer (higher-end and more appealing) coins, I kept with the type theme, but many newps came slabbed, and very few have been cracked out and put in the album. When I go to a show and a dealer asks what I'm looking for, my answer is always the same: "whatever catches my eye." I like it that way. Being a type collector lets me buy whatever I please. I can have multiples of a great design, or I might just find one nice example of something and call it a day. I might not be looking for a certain coin, but if I see it, it might come home with me. That's resulted in what I think is a pretty nice collection of slabbed material reflecting increased means and an ever-improving and discerning eye over the years.
But these new coins don't fit with my 7070. At some level they're the same--what can I afford today?--but they also seem too nice. No longer are they the wholesome, circulated examples of yore, outside of the few coins that have always been cheap in high grade (that uncirculated, toned wheat cent probably cost me $2 15+ years ago). It doesn't feel right to put those new coins in the old album. One of the things I love about the album is that it is a great reminder of what my collection once was. I still think it's a great set, it's just that I can do better now. But not everything has to be better. The album still has holes, and while I'm not a super active buyer, I like being able to add to the book with coins that match what I once would have bought. Maybe the type is more expensive than I could have paid back then or maybe not, but if I add a coin, it needs a look to match my old collecting habits. The album needs to be consistent.
A few weeks ago, @mcarney1173 listed a bunch of circulated type coins on the BST. I scrolled through and saw lots of nice stuff, but nothing that was quite for me in terms of album holes to fill. Someone in the comments mentioned the great Sesqui and I scrolled back up. I missed it the first time, but it looked perfect. Totally original, circulated but not too heavily worn. It's the average of my album's deeply toned and lustre-less circulated Columbian and more lightly toned Pilgrim, which as an AU has some nice lustre. I probably bought the Columbian when I was 10. The Pilgrim came when I was in high school. My college graduation was 11 years ago this past week. I don't know how I missed it scrolling through everything, but it had to be mine. It's a great design among the commems, and it's one of the designs that also looks great with wear. Mike was wonderful to work with, and after a hefty shipping delay due to a snafu that was entirely my local Post Office's fault, the coin arrived on Friday. It's just the kind of coin I would have bought 20 years ago--if I could have afforded it--and it is a perfect fit for an album that still needs to be filled, but never needs an upgrade.
Comments
Jeremy, what a pleasure it was to read that post!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I took a different path but can relate to the sentiments in the OP. To some extent. I preferred it when the coins I have been collecting for the last 20 years were "undiscovered" and cheaper. Cheaper so that my budget would go further, not to buy something for sale at a potential future windfall.
Oh man ... what a great read, and still the same great attitude I remember from when I first met you on these boards many, many moons ago. Congrat's on a NEWP for the old 7070.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Love the coin and the post!
Wow, great story to read and see those awesome photos of my old coin. I started out collecting exactly the same way as you with a 7070 and VF-XF Type coins when I was about 13. As you mentioned, my post on the BST was a majority of the raw coins I owned in my 7070 after I recently decided to shift to certified coins for the same reasons you did. The 7070 has been so important to me as a collector and I am holding on to my (mostly) empty album for when I inevitably want to start it up again. Thanks again for a pleasant transaction and I'm glad the coin brought up so many great memories.
P.S. If the sesqui was "returned to sender" a second time I would have taken that as a sign for me to keep the coin. It was tough to sell, but like every collector my direction in the hobby is changing every day
This is a great post and wonderful read. It reminds me of my childhood collection too. I wish I would have found the 7070 when I was younger and took the same approach as the OP. We'll done!
I should note that even now, my goal isn't really to buy something for a future windfall. I've sold very few coins out of my collection, especially from the time my budget really began to grow and I've been able to buy higher quality coins. I don't buy much, and what I do have, I really do plan to keep for the long term. In 2007 I went through my collection and sold off the pieces that I didn't really like (much of it accumulated later in high school and early in college when I could afford more expensive items, but still hadn't really gotten a consistent, patient eye) to help fund my flying lessons. I've been much more disciplined since then, and I'm not sure I've sold anything from my collection since then, either. Of course, knowing I may always trade up when the opportunity presents itself, there's incentive to keep a relatively more expensive coin in a holder, whereas with a $50 coin, it might not really matter one way or another if it gets cracked.
Nice read!
Nice post, Jeremy. I like the phrase ".. not everything has to be better."
(BTW, I inquired about that Sesqui. but it was already spoken for... glad it has found a good home. I did acquire the 1837 half and the Stone Mtn. both are perfect circs, imo)
What don’t you buy more coins?
Your young enough !
I give away money. I collect money.
I don’t love money . I do love the Lord God.
That is a great post Jeremy... and I recall when you came to Seattle....Beautiful coin there. I like your collecting philosophy....Very close to mine at this time. Cheers, RickO
Coins are not my only expensive hobby, and even when I have something in mind, it can take a while for me to get it. I've found great pleasure in looking for something--casually or seriously--for months or years to get the best example I can reasonably get given my budget, rather than buying the first example I come across that theoretically meets the basic requirements (usually grade).
Great post old friend. Enjoyed it.
The arc of one's collection, and the awareness of the arc, is something that is valuable to a true collector. Not only does it allow for wisdom to inform future purchases, but it also is a resource for new collectors, facilitating both advice and patience to/with them.
siliconvalleycoins.com
Always fun to read your posts Jeremy. This one helps us all to remember those small things that kindled our attention to numismatics.
Altitude is your friend.
Speed is life.
Keep it in the center of the air . . the edges of the air have all the problems.
Drunner
Quite a nice post, and I absolutely agree with the sentiment regarding his 7070 set. I also have coins in my 7070 album that remind me of deceased family members or earlier times in my life. I technically finished my 7070 album decades ago--all of the holes were filled. However, it will never be completed in another sense. As the years go by, it's something that will change just as I change.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Thanks so much for sharing. I really enjoyed reading it.
Love the coin, I have 3 Uncs, just a mental thing. I bought a 64 for my set when 65's were nuts, bought a 63 because it was "too pretty" to be a 63, bought a 65-CAC when they came down to a "reasonable" price. I may actually have a circ in my old type collection...just need to find it. LOL, I guess this is what it's about.