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 Replies: 8 / Views: 1,231 |
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Pillar of the Community
United States
937 Posts |
The following post is nothing more than my opinion. It is not endorsed by this community, any organization or any group. You may not agree, in fact it is for sure that many will not. The interesting article in the Modern Coin Forum "1942-1946 Double Mint Sets, Maybe..." brought this to the forefront. Feel free to disagree and by all means tell me how loony I am. This story is fascinating and touches upon something that I find more and more prevalent and distasteful in our hobby. The mystery and investigation is great and I am sure it will, in the end, shine light on a heretofore unknown practice that led up to all the fancy packaging the United States and other major mints around the world put out today. What I find distasteful is the premium being placed on a package holding the coins. Now I am not faulting Mr. Frese for his interest, curiosity, and purchase of the little canvas sacks of coins. In many ways I applaud his dedication to his search of knowledge and history, and that he is not showing them with the intent of making a profit but of gaining knowledge. But truly are the coins worth such premiums because they are in a little canvass sack? Much of the cost of many coins bought and sold today is directly due to a perceived premium of the holder the coin is in. I have seen this with coins from hoards like the Redfield Hoard where Morgans were demanding a premium because it said "From the Redfield Hoard" on the holder. Today with the Third Party Grading Services and the special labels the companies devise for their holders this has reached a whole new level. The holder and label is considered at least as important, to many, as what is in the holder, and I think you can surmise what my answer to a registry set would be. Third Party Grading has its place in the hobby, I will never argue that. On the other hand it has done much to turn coin collecting into collecting the correct holder with the right number. I have read several threads on this forum where someone asks if they should send a particular coin into a TPG. Hearing this is like hearing fingernails on a chalkboard to me. There are more productive ways to find out if you paid MS62 money for an MS64, and if you are happy with the coin and what you paid what difference does it really make? Enjoy the hobby, learn your subject, and relax. This is not a race or a competition.... Unless you are a dealer, then maybe it is a competition. But what do I know? |
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Pillar of the Community
United States
1158 Posts |
I'm fairly new to the hobby, and I do agree somewhat. But a LOT of the collectibles market has to do with perception, story, history and perceived scarcity. Certain historic lots or holders or bags can add history and scarcity to an otherwise not so rare coin. It's not just a Morgan dollar, it's one that has a story now because it was held by a famous person. It's no different than a baseball being worth more because it was used in the world series. |
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Pillar of the Community
Korea, Republic Of
1881 Posts |
 with tkbslc. I personally consider history a major part of a coin. That's why there are people paying big premiums for the Saddle Ridge hoard gold coins, and paying good premiums for coins with a famous pedigree like the Eliasberg collection. |
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Pillar of the Community
 United States
937 Posts |
personally consider history a major part of a coin. That's why there are people paying big premiums for the Saddle Ridge hoard gold coins, and paying good premiums for coins with a famous pedigree like the Eliasberg collection.
Yes each coin has its own history. But I see no extra value in a coin just because it is in a holder from a famous hoard. Does the original bos with a printed note from Richard Nixon make that 1883 CC Morgan a better coin? Does a Saddle Ridge Hoard or SS Central America on the holder make the coin inside better? Many seem to think so. Some think not
But What Do I know?
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Pillar of the Community
Korea, Republic Of
1881 Posts |
Not "better" as in better state of preservation/condition, but coins with pedigrees and GSA Morgans have more of a history to them. That's when the historical value is considered more than the actual numismatic value by some collectors. People that buy coins for their condition will not care for pedigrees and such, but people that buy coins for their historic value are willing to pay the premium for the history of the coin, not its condition.
Edited by Matteproof
08/05/2014 1:17 pm
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Moderator
 United States
56855 Posts |
The Holder Or The Coin?...The Coin Of Course,IMHO. John1  |
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Moderator
Australia
16827 Posts |
Personally, I agree with the OP to a large extent. I collect coins, not plastic packages, and do not personally feel any need to pay extra for a coin that is packaged differently, whether it be a 2x2, slab or some unusual "error" or "variety" in the OGP. If nature is allowed to take its course, the coin is going to be around for a lot longer than the packaging will.
However, I see the issue of provenance differently. I would be prepared to pay more for a coin with known provenance rather than a coin whose history is "I bought it from a coin dealer" and if the provenance is particularly famous or notorious, all the better. The provenance does not have to be attached to the label of a 2x2 or slab for it to "count", but it should be recorded there anyway, in order to preserve it. Provenance is intangible and usually unverifiable with current technology, so is therefore the property of the coin that is lost most easily.
In other words, while I would be prepared to pay more for a provenanced coin, I would not care exactly how that provenance was conveyed to me, so long as the source of the information is considered reliable.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
United States
20753 Posts |
I too collect coins, not plastic. If and when I purchase any coin in slab or plastic wrap, out it comes. I place almost all my coins in Albums. I have no use for whatever they came in and could care less if it's a TPGS slab or Mint wrap,
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Pillar of the Community
1325 Posts |
I am a coin collector, not a holder collector. I collect circulating coins because it is like a treasure hunt. Anyone with deep pockets can collect "Mint" coins by just buying them, but you have done nothing to "earn" them. It is like buying a bowling trophy. Anyone can do it, but if you work to get it, it holds more meaning. Sure my coins may be worth little to face and have in many cases gone through heck to get to me, but the history of a coin is easily found online. The history the coin has been through is a world of its own that cannot be put with every coin in some neat little packaging. I have one set that I paid someone $5 because they needed gas money and it has a Franklin half (1957 D) in it and the plastic ultrasonic welded case has a broken corner, and when I get around to it it will be broken out along with its: "Indian Head" (1905), "Silver Mercury dime" (1942 D), "Silver Standing Liberty quarter" (1926), and " Liberty nickel" (1900); and I will put them into respective folders. I figure these "containers" are more for shipping safety in the modern world and count them as valuable as packing peanuts. The most interesting and only container I have a coin in that it came in would be the tiny ziplock jewelry bag with an SBA and a piece of cardstock with the Burger King logo on it since it came from there. The novelty wore off the rest long ago (about 5 minutes after getting them) and the coins need to go to fill the holes they belong in in my folders! Just haven't gotten a Franklin half, standing liberty or other of those folders yet since I have so few of them to put into a folder at this time, so they are more easily found in what they came in, for now. |
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Posted 08/05/2014 12:27 pm
