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Replies: 34 / Views: 4,217 |
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Pillar of the Community
Israel
2420 Posts |
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Bedrock of the Community
13014 Posts |
Ones that worn are actually pretty rare. Just like people chase the highest possible grades, theres also a decent segment which seems to be growing that chase the lowest possible grades for low ball sets
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Pillar of the Community
 Israel
2420 Posts |
But do you actually think that this is circulation wear?
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Pillar of the Community
United States
899 Posts |
It looks like someone used it as a pocket piece - so yeah - circulated. I see it sold as well. :)
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Moderator
 United States
23522 Posts |
Lowball Ikes are a fairly popular collection. This one - 1976 Type 2 - is among the "worst" you can find; PCGS has 4 P01's.
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Valued Member
United States
362 Posts |
It's amazing to me that since the advent of ebay how such premiums for the worst of the worst can be had. It's gotten so bad for the suckers that buy these "lowball" coins that they "created" a set to fit their bad choices in collecting. Maybe I'll spray paint my SBA coins pink and call it the blushing girl set. Oy vey iz mir ! 
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Moderator
 United States
23522 Posts |
Quote: It's gotten so bad for the suckers that buy these "lowball" coins that they "created" a set to fit their bad choices in collecting. The "sets" I refer to are PCGS Registry sets, and they were started because of demand from their membership. I'm as prejudiced one way as you are the other, though; consider my avatar. 
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Valued Member
United States
362 Posts |
Quote: consider my avatar I was reconsidering my use of the word sucker, and for that I'm sorry. My intended point was, it seems people create a new method/collection/term for adding monetary value to anything they possess. I understand having lowball coins, heck I have many myself, but rather than calling them a set, I consider those coins in two ways. First as silver, then as a record of history. In regards to to demands from their membership, it's the blind leading the greedy. When it's all said and done PCGS will do anything that keeps the cash coming in to their coffers irregardless. But as I say, I'm truly sorry for the term suckers. 
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Pillar of the Community
 Israel
2420 Posts |
I can't see any reason to pay such premiums for super warn examples.
It is easy enough to buy low grade for cheap and hold them in your pocket till they wear out and become P01.
As opposed to the high grade coins, there are plenty more potential coins which could one day become P01.
Edited by supgog 04/15/2013 09:57 am
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Pillar of the Community
United States
1211 Posts |
Its simply a matter of condition rarity.
I enjoy looking for and collecting honestly circulated, low grade coins. You may not like or appreciate this coin, but go ahead and try to find another like it... they just arent out there, especially for certain series.
This coin, in my opinion, looks %100 honestly worn. I agree that it was carried for a long long time as a pocket piece. Just imagine all the things this coin has seen and done.
For those like me who love low grade coins, this is a huge part of the charm.
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Bedrock of the Community
United States
17884 Posts |
What I find surprising is that so many collectors who have no trouble believing in and accepting the concept of grade rarity for the super high end coins can't seem to understand that they is also grade rarity for the super low end coins as well.
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Pillar of the Community
 Israel
2420 Posts |
Quote: What I find surprising is that so many collectors who have no trouble believing in and accepting the concept of grade rarity for the super high end coins can't seem to understand that they is also grade rarity for the super low end coins as well Well, I think it's not surprising at all. There is a fundamental difference between the two classes: You can't create any new high end coins, but you can always wear down existing coins to become super low end. If you are a low end collector - 1. Can you really tell the difference between a coin that was worn decades ago from circulation and a coin I've put it my pocket for a few year till it got completely worn? 2. Why won't you create your own super low-end coins by making them wear in present times? It seems to me that someone who's intentionally wearing off coins could make a profit out of lowball collectors. What am I missing?
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Valued Member
United States
362 Posts |
Quote: What am I missing? See Fatman's post when enough people buy enough junk silver and silver drops, they get creative. So the birth of another set to collect and being on the ground floor will provide premium cash flow to such individuals. I agree that they may hold a unique appeal to certain collectors, they will never be anything but a worn out coin to me. Also for the record if you have any low grade coins hurry up and put them in the cement mixer this afternoon so you can ebay them this afternoon.   Time to make a deed for some Georgia swampland to sell. Between the P01 collectors and Duck Dynasty beards, I'll make a killing. 
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Pillar of the Community
United States
1211 Posts |
The thing a lot of people don't realize is how long it takes for a coin to get to this point. Someone mentioned the idea of "wearing them down themselves" or something of that nature... You would be either dirt poor or you would have 100 Ike's in your pocket every day for 10 yrs plus to get coins in grades this low. It's not as simple as just beating up a MS coin.
Yes, you can tell the difference between an honestly circulated coin and something done with a belt sander or on railroad tracks. It is also possible to identify cleaned coins in low grades, and even the difference between dipped coins VS a piece which is polished from years upon years in someone's pocket.
Some of these things exist on a fine line, but bottom line is that there is an obvious difference between a true pocket piece and an artificially worn coin.
The comparison is similar to that of an intentionally toned VS an unintentionally toned coin.
This is a good thread. Not contentious, but it's a very interesting discussion.
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Pillar of the Community
 Israel
2420 Posts |
I'm not suggesting trying to wear the coins artificially in a day or two by destructive process, but there are alternatives. Since the coin in this thread is an Ike, we can assume that it was not genuinely circulated and changed hands for too long. At most, it might have spent a few year in someones pocket. Moreover, for many coins, such as the PO01 1859 IHC that was on this forum not to long ago, you could purchase problem free, truly worn FR2-AG3 coin for less than 5$. How much time do you suppose it will take it to wear off to become PO01? What about if I give a pile of those to kids (old enough not to eat them :) ) to play with? This could really accelerate the process.
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Bedrock of the Community
13014 Posts |
Quote: It is easy enough to buy low grade for cheap and hold them in your pocket till they wear out and become P01. Its true its definitely possible, but do you really want to walk around with it in your pocket for years waiting for it to happen? The fact that more of these dont exist out there answers the question that most people dont have the patience to do it. Quote: In regards to to demands from their membership, it's the blind leading the greedy. When it's all said and done PCGS will do anything that keeps the cash coming in to their coffers irregardless. Theyre a business making money is their goal. But what would you suggest that they get snobby and tell the collectors low balls are benith their registry sets? Good for PCGS for adding something people wanted. Quote: There is a fundamental difference between the two classes: You can't create any new high end coins, but you can always wear down existing coins to become super low end. You can make the same argument about toning on coins, you can always let one tone but can never make one blast white again. But I would be plenty of people who look down on low balls like toned coins.
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Replies: 34 / Views: 4,217 |