Why is a PO1 such a cool thing now?

It started out with a pretty fun challenge a couple years back from one person here -- $1000 to the first person who could get PCGS to slab an Ike graded PO-01.

Soon after that it became the next "thing to do," and pretty soon a lot of people were trying to do it. And now, of course, PCGS has the "low ball registry" which I personally think is a bad idea and an incentive to wear down collectible coins in higher grades.

Personally I don't get it, but I think it's pretty cool that the low end of the collecting spectrum is finally seeing the love and respect.

Most of it is due to the Registry Set Craze.....

TorinoCobra71

because pcgs has a low ball registry set?

<< <i>because pcgs has a low ball registry set? >>



I can't speak for others, but I've been collecting low grades for several years before the low ball registry started. There are 2 or 3 other passionate long time low grade collectors on the board also.

carsoncitygold,

i know you have been. i can clearly remember you posting long before
this low ball registry set.

also many of us like well circulated examples but as with all cool
things, when it becomes popular, it is no longer cool ;-)




almost impossible to find well worn gold.
i wonder if the more modern coins are being artificially worn down.
!!!

<< <i>if the Peace $ is graded P01, how can the 1881-cc have the same grading? the 1881-cc has more detail, can make out the date and mint. What am I missing? FYI - I agree with the Peace $ being a P01. >>

Some coins are more PO-1 than others. These coins have to be the same grade because there is no numerical grade of zero.

It is the most difficult grade to achieve at PCGS
followed closely by MS 60, then MS 70

<< <i>It is the most difficult grade to achieve at PCGS
followed closely by MS 60, then MS 70 >>

But the problem is, if someone becomes proficient at "simulating" wear quickly, there's almost a never-ending supply of PO-1 coins.

<< <i>I have some FR02s that are worse then that PO01 CC Morgan... I got screwed!!! >>

Crack out candidates

I also offered a 1K reward for a PO01 Ike

The best I received was a raw FA02 that NGC graded out (it's still in my collection).

Here is my reply on the last P01 thread.

"Does anyone think that in an attempt to "get" us to go in another direction..... once this eases off the next tomfoolery will be F15 registries where people holding classics in 20 slabs will resubmit HOPING for a downgrade and continue to crack out those 20's hoping for a 15 till they get it right and downgrade it to a 15 slab?????

I am sorry and I know that I will step on some toes BUT..............

this is like a Groundhog day type of "RETURN OF THE LEMMINGS"

Well......... Lemmings are cute I guess and when the TPG's decide to pull on their leash they do tend to just go in the next direction without much resistance.......

"

<< <i>
>>



That goldie is too nice to be PO01. I would call it a slider between FR02 and AG03.

It's FR02 PQ!



Edit: ditto to the one that was just posted above me.

<< <i>That goldie is too nice to be PO01. I would call it a slider between FR02 and AG03.

It's FR02 PQ! >>

At this end of the spectrum, I think "PQ" means it barely makes the grade and is almost a crackout candidate for a lower grade...

Nice low grade coins everyone!

Collectors often say they like classic coins because there's more history with them. A coin with more wear probably has been in touch with more people and experience more commerce than a coin with less wear. So if you like history and imagining what it was like when the coin was being spent, low grade coins may have some attractiveness over higher grade ones that may have seen little, if any, commercial use.

<< <i>and...since eye appeal is not there on most of them...is it because they are sometimes POP1 coins? Or is it that they are considered problem-free coins if PCGS will slab them? Or is it just a game? I am a poster child for collect whatever you like....but I don't get it with the PO1 stuff? >>



A PO1 coin has seen way more history than any UNC piece. A PO1 coin has been places, seen sights, been used--it's a true connection to history. You can't get that with BU coins

<< <i>

<< <i>A PO1 coin has seen way more history than any UNC piece. A PO1 coin has been places, seen sights, been used--it's a true connection to history. You can't get that with BU coins >>

I totally agree with this, but I don't understand the clamor for slabbing them -- at least not after the "coolness factor" of it vanished when it started becoming common practice. And that clamor was happening even *before* marketing invented another reason to get people to slab coins that don't need to be slabbed. I mean, from the standpoint of history and feeling connected to it, there's nothing like holding it in your hand. And if you're reasonably careful, you're not going to hurt a PO-1 coin by handling it. Putting it in plastic seems like it would take away from that historical link and add a "degree of separation" between me and that history. >>



Perfect ziggy

You know, I could see the dealers who "get into" this craze, because these P01 coins will make them quite a pretty penny and these P01 coins they show go straight onto their sites to sell.

<< <i>If this really becomes popular, maybe the coin doctors will get involved.
It would really be cool to have a set of the new president dollars in ag-good.
I think a p01 would be too obvious though.
>>



HaHaHa....
But the REALLY sad thing is the lines of buyers that would put down some serious dosh for them.....

Those furry little lemmings.......

Here's a TRUE PO01 Gold $2.5 dated 1908.............

And here's a raw 1836 $5 that I wish was a PO01 but is probably a weak FR02:

I'll never understand the attraction.......

I get that it's challenging and competitive....But WHY not compete for something that has quality and/or value??

Live and let live and to each his own.

@blitzdude said:
Why do people care about imaginary bitcoins and silly little green/gold stickers on their graded coin slabs? It is most certainly a crazy world. SMH!

Why do people care about imaginary shares of GM stock and imaginary Treasury bonds? Those are both all digital these days.

@Newcomp103 said:
Why is a PO1 such a cool thing now?
and...since eye appeal is not there on most of them...is it because they are sometimes POP1 coins? Or is it that they are considered problem-free coins if PCGS will slab them? Or is it just a game? I am a poster child for collect whatever you like....but I don't get it with the PO1 stuff?

The best ones that are PO01s that have great eye appeal

@Zoins People do pay more for them, so I partially agree with the value part, but they are of very poor quality.