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 Replies: 17 / Views: 3,995 |
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New Member
United States
4 Posts |
Greetings to the Coin Community Forum. After working on my blue Whitman Lincoln folders in the 1970s, my second grader has gotten me interested in coin collecting. I've come across the idea of collecting one of each type coin minted in the 20th century. I'm trying to get each in uncirculated condition, slabbed by a TPG in the best condition I can afford. I'd like your help selecting whether to collect the modern coins in MS business strike or in proof sets. My knee jerk reaction is that I prefer coins that were created for the purpose of being used as currency. What I'm finding is that bag marks seem to make it tough to find really nice MS coins. Could you share with me any pros and cons of modern MS vs. PS coin collecting? Thanks! Jack King |
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Pillar of the Community
United States
620 Posts |
I would do MS coins in the highest grade you can afford.
Proofs made for collectors while very nice to look at
they were never intended for cirulation.
To me MS coins meant for cirulation just have more history
and more appeal.
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Bedrock of the Community
Australia
21786 Posts |
jacksonking:  to the CCF, good to have you aboard. I really don't see a dichotomy. I only collect coins up to about 1950, when silver began to be withdrawn from circulating currency around the World. From about the 1970's, after silver had been withdrawn by Mints around the World, they saw the commercial opportunity to sell coins specifically marketed to collectors. The the rarity of such issues could be influenced for maximum profit to the Mints, by controlling the size of the issue. A bit like baseball cards and Pokemon cards. Silver and gold coins have re appeared, but for NCLT collectors only. If you like collecting NCLT, that's fine. For a lot of dealers, such NCLT material now forms the backbone of their businesses. I am not all that keen on NCLT. I rather like the idea that coins that were created to be used as circulating MONEY, and that is where my numismatic interests lie. Captain Morgan is right. Go for the best condition coins you can, balanced against your budget. Edited by sel_69l
08/31/2012 7:28 pm
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Bedrock of the Community
13014 Posts |
Personally I do like the looks of both versions of most coins, but if I had to pick one I would pick the MS for most series. The one thing I dont like about modern proofs is that the mirror image on them is so good the slightest little thing stands out like a sore thumb on it while MS coins can hide that much better. But a lot of the MS coins look amazing too. The one thing I would caution about the graded coins is not all slabs are created equal. Even with the same company you can have some of the same grade look amazing and others not so much. But I love graded slabbed myself and the vast majority of coins will be exactly what they say. Just stay away from SGS coins. I would suggest sticking with PCGS/NGC and Anacs in that order and stay away from the basement slabbers |
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Bedrock of the Community
Australia
21786 Posts |
Often, the cameo part of the dies for cameo proofs has to be laser or acid etched, or sandblasted to produce the cameo effect. Inevitably, some of the detail of the design is lost. That is a pity.
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Bedrock of the Community
United States
20753 Posts |
I suggest you purchase a copy of the Red Book, sit down with your Second grader and both decide what to collect. You two can scan through many different types of coins. Possibly one or many will make the decision for you. |
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Pillar of the Community
Canada
1411 Posts |
to CCF! |
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Pillar of the Community
United States
3184 Posts |
get a coin magazine and look at pictures and see what piques your interest and collect what you like
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Moderator
 United States
23522 Posts |
Quote:
What I'm finding is that bag marks seem to make it tough to find really nice MS coins. It seems to me that, oddly enough, the same technological improvements which have made high-grade Proofs the norm have also made high-grade Business Strikes harder to find. I just did a random search at Heritage Auctions for MS68 Washington quarters. 246 total auctions, all years, all mints, since about 1994. MS69? One. If you want to do it the hard way, go MS. |
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Pillar of the Community
United States
3755 Posts |
Something else. If you mean MS coins from mint sets, those are NOT true business strikes, and never meant for circulation. And I can say with a high level of certainty that most high grade MS coins came from mint sets, not from rolls or bags.
Regardless, IMO it is worthwhile to collect both, which is why my modern Danscos are the proof included versions.
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Pillar of the Community
Australia
7096 Posts |
jacksonking 2 things you have to ask yourself first before you embark on your quest and trust me it will be a quest. 1 Am I doing this for fun as a hobby ? 2 Am I doing this as a form of investment ? If you are doing this as an investment, Give it away now because unless you are extremely lucky it will end up in tears. If you are doing it for fun then just collect what you can from your pocket change at first then upgrade the coins you need as time goes by and you have an idea of what you really want in your collection. As for MS V Proof coins, I get them both. 1 of each type in pcgs holders shouldn't cost a fortune but entire sets will. If you get bitten by the coin collecting bug I can assure you that 1 of each type of denomination will not be an easy goal to stick to, You will want the entire series  |
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Pillar of the Community
United States
1795 Posts |
I was going to give my own opinion but I couldn't say it any better than trout1105 has. I agree with them 100%. I will say coin collecting is for enjoyment and if by chance they increase in value...thats just icing on the already tasty cake.
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Pillar of the Community
United States
1704 Posts |
Quote:
If you mean MS coins from mint sets, those are NOT true business strikes, and never meant for circulation. The coins in Mints ARE true business strikes since they were struck on dies for coins intended for circulation. There only difference between a coin in a mint set and one that was not is one was sealed in cellophane and the other went into a canvas bag from the bins in which the coins were dropped into after being struck. The coins in mint sets were not handled any differently than those which were not. Not all coins in mint sets are without bag marks. I have seen some pretty baggy coins in mint sets. Ed ANA LM-3175 |
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Moderator
United States
187544 Posts |
Quote:
The coins in mint sets were not handled any differently than those which were not. Not all coins in mint sets are without bag marks. I have seen some pretty baggy coins in mint sets. I used to believe this as well, but it is not true. From the US Mint website... Quote:
United States Mint uncirculated coins are struck on special presses using greater force than circulating coins, producing a sharp, intricately detailed image. The coins are sealed in a blister and displayed in a folder. One folder contains coins bearing the "P" mint mark and the other contains coins bearing the "D" mint mark. According to Conder101, this has been the case since the late 1980's. |
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Pillar of the Community
United States
3755 Posts |
What Jbuck said. Thank you sir, again you beat me to it. LOL
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New Member
 United States
4 Posts |
Thanks to each of you for your comments. Here is what I was feeling before posting and your comments have made me feel ver comfortable in my "direction." To me a PCGS graded MS66 that's a business strike and not a special "silver" version when clads were the norm, or from an SMS are preferable to me that PR graded coins or other variations that are directed at collectors. I have a PR69 Washington quarter from 1964. It is a truly beautiful object. It is stunning to look at and to show my friends. But here's my issue, it seems to have more in common with my wife's 1984 Olympic proof set that it does with typical 1964 quarters. I totally understand the attraction, but I think I'm earing some validation in the fun and accomplishment of working hard to find the best possible currency intended business strike -- even if they may not be as perfect as a coin from an SMS or proof set. I really can't wait to go to a coin show were I can see them in person. Shopping on websites or ebay is just not the same as in person. On an additional note, I do find it tougher to get excited about the clad coins, so I think I'll be pulled toward pre-65 coins. Also, as a child of the 70's the Mercury dime and Buffalo nickel have a special place in my childhood worship! (Like those red Porsche 911s.) My son is almost finished with his State Quarters. He's got all the folders for Lincoln cents, Roosevelt dimes, Jefferson nickels, and Washington quarters. Except for key dates he's methodically found virtually everything possible in the last several months. (A little OCD like his dad.) Now he does yardwork with me to earn an ebay circulated Lincoln Cent each week. No one said bribery couldn't work well too! Thanks for your comments and I appreciate the welcome. Jack |
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Replies: 17 / Views: 3,995 |
Posted 08/31/2012 7:23 pm
