The merits of collecting low-grade vs high grade
renomedphys
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I mean sure, I've always been attracted to the meatiness of a high grade specimen, but there is a lot to be said for particularly nice low-grade examples. I recently picked up a Fine-15 Head of '93 (S20-b) cent that's got great color and hardly any marks, just nice even wear, and is even beautiful in its own right. And along the same vein, I bought a VG-8 1812 Large Date cent that again was well-centered, had nice color, excellent appearance, and hardly any "marks". Just nice even wear. There is definitely something unusual and "sweet" about coins like these. And not to mention, they are far more affordable than their often over-processed high-grade bretheren. I mean, they may actually cost quite a lot more than a typical example in that grade, but I'd almost rather pay $3000 for an extremely nice $1500 "book value" coin than the regular price for a questionable Unc
I've given some thought to completing a date set of Sheldon cents. I mean, I'm only missing the '99 through the 1807. Maybe this is the way to go with these. I know I'm probably asking a lot (I usually am) but at least I won't have to sell 1000 shares of APPL for a nice 1799. Right?
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As you know, there is quality to be found at every grade level.
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
If high grade is not affordable lower grade should do.
Ronnie can’t afford a certain slab coin in ms67 which is $620 but he could afford a MS64 example of this date for $259.
Separate from availability and cost and the cool history that comes with a circ coin, many circulated coins are more attractive to some than an uncirculated coin.
There's something very attractive and appealing about a nice circ cam or crusty, dirty old gold that a spotless, lustrous uncirculated coin doesn't have. Less sterile. I prefer a coin that was used rather than one that has been babied since it came off the presses.
chopmarkedtradedollars.com
I too find some lower grade coins to be attractive and collectable but at the end of the day I like the jaw droppers more.
S-20b is my favorite large cent variety because of the placement of the date. Congrats on owning what sounds like a very pleasing coin.
Sounds like EAC thinking.
Not what the OP was stating. He was speaking of mid-grade worn/circulated coins that are attractive and problem-free VS ultra Gems.
What he wasn't doing was comparing MS64s to MS67s and the cost between them.
I feel the same way! The flat date is so unique in the series
Empty Nest Collection
Taking it step further to lowball collecting, I think moderns (and only moderns) should be collected in the lowest grade possible.
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Some of my favorite coins are beautiful VF or XF's. I pull this out to look at significantly more often than the MS one in my type set.
That would be nice if I had, oh say, Del Hansen's bank account.
Agree 100% with @lermish. I am attracted to the history that comes with a nicely circulated old coin.
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Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
I also enjoy a well-circulated crusty coin look, as long as not dipped. Nothing is worse then a 100+ year old white coin in low grades.
When I started collecting Morgans I started both a slabbed, mostly MS set (excluding several key dates) and a raw XF and lower graded set in a LOC album. I really enjoyed the look and history of these circulated coins. Most of the time I looked at the circulated set, more then the MS set, and enjoyed removing coins from the album and holding in my hand. Below was a set of my S mint coins.
Have to make compromises when you have a budget. I’d much rather have a nice $350 1921 Walking Liberty Half dollar than a nice $350 1944 Walking Liberty.
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@renomedphys ..."great color and hardly any marks, just nice even wear, and is even beautiful in its own right. "...
This was my general rule of thumb for my two volume Wayte Raymond Large Cent albums. That said... Copper is a very reactive metal, and nice surfaces (free from corrosion and excessive nicks) and nice even color consistent with early copper (and hasn't been cleaned, Deller'ed or recolored) is still a fairly tall order for early copper even in lower grades. Especially for R4 and higher varieties...
Here are a few of my album coins...
Now in a PCGS holder:
Partial Page in the album...
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I try to collect only MS coins but a charming, high-end AU or XF is always welcome in my sets. And the pops are often lower than the MS examples for the rarer issues.
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My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I mostly collect MS where I can afford but agree sometimes an old coin in say VG-F-VF that has really “earned” its genuine wear and age can be just as neat & beautiful.
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I prefer the look of lower circulated grades. Even if I was richer that would not change that is just what I like. G-04 to F-12 and may up to VF-20 if I cannot find a lower grade with nice eye appeal.
Liberty Seated Half Dollars
When I put together a date set of cents from 1793 to date, the grades range from VG-10 PR or MS-66. There are very few 66s. I could have collected all but couple dates from 1816 to 1857 in Mint State, but I didn’t. I just didn’t want to spend that much money. A no problem VF, wth hard, smooth surfaces was just as good for the money.
I had a number Mint State Flying Eagle an Indian cents, but aimed to finish the set in raw EF and AU in an album. It felt good to fill well over half the album for about $2,000.
When I was actively collecting Trade $'s, I usually tried to get the best XF-AU coins I could find. I have a couple VF's that fit the bill as well.
I love well circulated coins! VG/F is generally a little more worn than I like, however a superb VF or XF type coin will often bring me more dopamine than a bleh UNC
Head coin nerd @ Rarity7
In many of the sets I try to assemble I try to find nice XF to AU examples. More affordable but tougher to find than what the price guides indicate they should be.
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I wasn't nearly as "invested" in this little side-venture doing Buffalo Nickels in mostly VF...
https://forums.collectors.com/discussion/1114715/completed-wayte-raymond-album-of-buffalo-nickels-pics-added#pagetop
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I like wholesome circulated coins and am sometimes tempted to keep them. But unless extremely rare, I usually decide against it. First, because the ROI usually sucks. (Doesn’t mean ROI is my primary focus, but it does matter.) And second, I know I’ll probably buy a better one when the opportunity presents itself, so why bother?
Doggedly collecting coins of the Central American Republic.
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I think it really comes down to what gives you enjoyment from the hobby.
For me, I'm much more interested in building a collection than waiting decades for "the perfect coin." I have a career outside of numismatics that pays the bills and allows me to buy coins when I can. If I held out for the absolute best example of every date, I'd own far fewer coins and would probably never complete many of the sets that interest me... especially in Early Copper.
ROI isn't irrelevant, but it's never been my primary motivation. I buy coins because I enjoy studying them, comparing die varieties, and appreciating the history they represent. A wholesome, evenly worn coin that has survived 200+ years with honest circulation can be just as appealing to me as a Mint State example. Could I sell my entire copper collection and buy one spectacular 1793 cent? Probably. But then I'd have one coin instead of a collection, and for me the enjoyment comes from seeing the progression of dates, varieties, and history laid out together. There's also something wonderfully democratic about circulated early copper. These coins did what they were made to do. They passed through thousands of hands, bought bread, paid wages, and witnessed the first decades of the Republic. Honest wear isn't a defect to me... it's part of the coin's biography.
Everyone has different priorities. Some collectors pursue the finest known examples. Others enjoy completing sets within a realistic budget. Neither approach is "right"... they're just different ways to enjoy the hobby.
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Wish this had been a poll, I'd like to see the breakdown. My favorites tend to be in the 25-40 range, and I have no problem going down to G if the pricing demands it, as I did for my Chain Cent.
An old classic MS coin is similarly sad as a 1960s Ferrari with 12 miles.
For my Capped Bust half dime set, I aimed for AU to Gem grades. Now that I'm doing Capped Bust dimes, I realized that I'd have to accommodate some scarcity and higher prices, so I aim for XF45 through MS62+. (Some of the tuffies will be below 45, and I may find a "must-have" or two above 62). Here's the 1833 JR-5 in CACG 45. This isn't a tuffie, and I could have held out for a higher grade for this marriage. But I thought this coin was just lovely (and still do) and it makes me smile. Quality is found at all levels, and there's peace in being happy with something and not needing to strive for MORE.
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I have very few well-circulated coins in my collection, but when I came across this wholesome, problem-free example with peripheral color in an OGH & CAC approval, it was an insta-buy. I think my next lowest certified coin grade is XF45, and that's a Bust Dollar.
https://us.v-cdn.net/cdn-cgi/image/quality=80,format=auto,fit=scale-down,height=2000,width=2000/6027503/uploads/editor/s9/h1k312azxgmr.png
Nothing is as expensive as free money.
I think it also depends on the series. You don't often see a circulated St. Gaudens. Especially when the cost is just the gold value for a common date, choosing between a 63 or 64 and a 06, the the 06 is more fun to me.
Return On Investment always has been and always will be enjoyment and relaxation along with inquisitive study.
Let other aspects in life focus on the financial ROI.
There are beautiful coins in all grades. Collect what you like.