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 Replies: 14 / Views: 1,499 |
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Pillar of the Community
United States
1804 Posts |
Coin preservation for and by bulking BU coins I buy Ikes in bulk. First pleasure is to stripe out any .40 -- .90 -- .999, when I get any. Then I go for the toned, and error ikes, or anything that looks different, etc. Then you bucket the greasers, to place back into general circulation. I never take them to a bank. Many tellers just hate them. At this point in my endeavor, I am gathering tubes of BU coins, and this is where the coin preservation comes in. My capital for coins is limited, and I just cannot support 200-300 tubes of BU stock. I really do not want to sell BU stock for a 10-15 cent net profit on ebay. I do sell AU-BU (mix) stock on ebay, just to get rid of it, for a penny or two. That way I do not have to carry all that bulk to the stores. By having lots of BU Ikes on hand, I feel I have a chance of gathering a higher MS collection of Eisenhower's. My goal is an Eisenhower collection at MS63 minimum grade. Then, move up in grades. Gloves and tube storage is the way I treat BU. Errors and freaks get less new glove treatment. I have it in my head that freak collectors-investors are more interested in the MINT damage to the coin, than a hand grease spot. In 99% of cases, my best error coins are so messed up, it would be a joke to slab. I want to supporting the traditional preservation of coins by tube-hoarding and using gloves. Opinions? |
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Pillar of the Community
United States
1795 Posts |
Hmmmm I do sort of the same time but in much smaller quantities and with all circulating coinage. I always cash my surplus to purchase slabbed commemoratives. So I know of what your talking about. I store them in quality tubes stored in wooden small orange creates in a dry area with anti-descant bags. Never had a problem!
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Pillar of the Community
968 Posts |
I have several thousand BU Ike dollars stored in clear plastic tubes, then bagged into CoinLok bags. If you are going to go to the trouble of hoarding BU Ikes, you might as well spend the few extra bucks to store them properly, unless you're not serious about hoarding them. I have about 4,000 set aside, to give you an idea of how many coins I'm talking about. |
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Pillar of the Community
 United States
1804 Posts |
chasinytailbar Quote:(((((((I have several thousand BU Ike dollars stored in clear plastic tubes, then bagged into CoinLok bags. If you are going to go to the trouble of hoarding BU Ikes, you might as well spend the few extra bucks to store them properly, unless you're not serious about hoarding them. I have about 4,000 set aside, to give you an idea of how many coins I'm talking about.))))))))) We are in the similar neighborhood ... I have 1750 plus or minus. Thanks for the heads up on proper storage. |
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Pillar of the Community
United States
1804 Posts |
Chasingtailbar... Quote:I have several thousand BU Ike dollars stored in clear plastic tubes, then bagged into CoinLok bags. If you are going to go to the trouble of hoarding BU Ikes, you might as well spend the few extra bucks to store them properly, unless you're not serious about hoarding them. I have about 4,000 set aside, to give you an idea of how many coins I'm talking about. When you determine a coin is "BU" ... What is your visual thresh hold?  I avoid all nicks, at the one power (eye level). grease can.  Then I move to the 5 power level for hopes of getting rid of it. Gets really hairy at that point. Hard to say what is right to save or not hold. At the 10 power level ... you are looking at the difference of MSxxxx? all the way up to MSxxxxxx?  BTW ... do you save ERROR coins ?  Hope you book mark this thread.  |
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Bedrock of the Community
13014 Posts |
Quote:
My goal is an Eisenhower collection at MS63 minimum grade. Then, move up in grades. My suggestion would be to start higher if you know youre going to move up the ladder anyway. I know 67s arent really something most people can afford especially in some dates, but most of the 66s are pretty affordable if you save up and thats where youre planning to go anyway. The brutal ones you can swap out 65s or just do all 65s which is very affordable overall by comparison. I only say this just because if you start with 63 and upgrade to 64 then upgrade to 65 ect, it almost always costs you more in the long run to do it that way instead of just building the set slower in the range you want to be in. |
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Pillar of the Community
United States
1804 Posts |
baseball21 Quote:
My suggestion would be to start higher if you know youre going to move up the ladder anyway. I know 67s arent really something most people can afford especially in some dates, but most of the 66s are pretty affordable if you save up and thats where youre planning to go anyway. The brutal ones you can swap out 65s or just do all 65s which is very affordable overall by comparison.
I only say this just because if you start with 63 and upgrade to 64 then upgrade to 65 ect, it almost always costs you more in the long run to do it that way instead of just building the set slower in the range you want to be in. Thanks for the heads up |
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Pillar of the Community
968 Posts |
Quote:
When you determine a coin is "BU" ...
What is your visual thresh hold?
I avoid all nicks, at the one power (eye level). grease can.
Then I move to the 5 power level for hopes of getting rid of it. Gets really hairy at that point. Hard to say what is right to save or not hold.
At the 10 power level ... you are looking at the difference of MSxxxx? all the way up to MSxxxxxx?
BTW ... do you save ERROR coins ?
Hope you book mark this thread. For 1971 and 1972, I save MS63 or better. For 1974, 1976 T2, 1977 and 1978, I save MS64 or better. I save all 1973's and all 1976 T1's. I never use a loupe, I know how to grade just fine without one, especially on a coin as large as an Eisenhower dollar. I save anything worth greater than face value. |
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Pillar of the Community
United States
1804 Posts |
Quote:For 1971 and 1972, I save MS63 or better. For 1974, 1976 T2, 1977 and 1978, I save MS64 or better. I save all 1973's and all 1976 T1's. I never use a loupe, I know how to grade just fine without one, especially on a coin as large as an Eisenhower dollar. I save anything worth greater than face value. When you grade them with out a loupe, Do you just wooble them? Do you pay more attention to the obverse? |
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Pillar of the Community
United States
1804 Posts |
Quote:For 1971 and 1972, I save MS63 or better. For 1974, 1976 T2, 1977 and 1978, I save MS64 or better. I save all 1973's and all 1976 T1's. I never use a loupe, I know how to grade just fine without one, especially on a coin as large as an Eisenhower dollar. I save anything worth greater than face value. I too save all 1971 P (high grade) The reason I do this is the dies in the early years were inferior. And (if) you get a MS65? the value is very nice. |
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Bedrock of the Community
13014 Posts |
Quote:
When you grade them with out a loupe, Do you just wooble them?
Basically. Hold them near a light source and tilt and move them around, itll show all the dings and scratches under various angles. Magnification really is over kill for a coin that big if you arent checking for varieties or double striking. |
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Pillar of the Community
United States
1804 Posts |
basebal21 Quote:
Basically. Hold them near a light source and tilt and move them around, itll show all the dings and scratches under various angles Thanks... We are in agreement. I call this method a "wobble" test. With this in mind, I may have lots of nice BU ikes. |
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Pillar of the Community
United States
1795 Posts |
Actually I do save error coins if I can find them and as far as the BU coins I do use different magnification to sort out the coins. I first do them with an 8x then up to an 35x power magnification under halogen and florescent lamps. If they have any marks I usually discard them from my saved coins as far as BU. I will keep minor nicks for my general album collections till I can find better. Then months later I usually go through my coins again and cull them again especially when I want to buy more commemoratives. Works great for me and actually floats my boat.....he he.
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Bedrock of the Community
United States
20753 Posts |
I seldom can see any purpose in bulk collecting of anything The more people that do that, the lower the value will always be with those. Good examples are like the 31S Cent. So many hoarded away, even in high grades, just not worth a real lot and that one is of low mintage. So as far as I can see, hoarding any coins of high mintages and not a fantastically popular coin, will only get you a real small amount of profit in the far, far future. Very posibly the plastic tubes used for storage may be worth more than the coins in the future.
Just to see what you've accomplished, take a bunch of rolls to a coin shop or coin show and see how much your offered.
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Pillar of the Community
United States
1804 Posts |
Just Carl........ Quote:
Just to see what you've accomplished, take a bunch of rolls to a coin shop or coin show and see how much your offered. How true, How true. However, brick and mortar stores buy low and sell at a mark up. If, (when) dealers do buy a roll, or a bag, they may plan to sell one coin at a time, to retail buyers. Or dealers, DO some times buy Buckets -Bags - rolls and TURN them to SOMEONE ... 2 seconds after the client is out of sight. The (poor) person who held on the coins for months-years ... didn't make much .... you can be sure the dealer did make money .... that is why he is paying for Brick and mortar ... or a table fee at thecoin show. As for my personal hoarding habits ... I need not to sell all at once, necessarily. Aside from hoarding (I like to call it coin collecting) , I have had the good luck .. so far ... to get coins at face. The worst thing that could happened to me is ... I die ... and my wive cashes the coins at the bank. I guess you might say I DO mix coin collecting with my nature of being an ex-merchant of my younger years. At least I am not paying Brick and mortar now.  |
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Replies: 14 / Views: 1,499 |
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Posted 02/17/2014 10:55 pm
