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 Replies: 12 / Views: 2,674 |
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Pillar of the Community
United States
4867 Posts |
This is something I have been pondering for a while now. Do you think PL sets have had a negative impact on collecting coins? Looking in Charlton or Haxby it seems the business strikes almost always commands a higher premium than PL/Specimen strikes. I think things have changed now but wouldn't have it made sense to have actually circulating coinage in these sets instead of a different coin finish? For years I was buying PL sets to to build my sets. Looking back I think I should have went after business strikes instead and just reserved the PL/specimen strikes for those issues who did not have a business strike counterpart. What are your thoughts on this? In the beginning I thought I was doing the right thing getting these flashy coins from PL sets. I was just so enamored with the flashy coins. One last thing, in those publications I mentioned, do the coin mintages reflect all the finishes for said coin or just the business strikes?
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Rest in Peace
10197 Posts |
You are referring to Cannuck coins now, right? My shoes are covered from last time...
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Pillar of the Community
 United States
4867 Posts |
Yes Crazyb, that is correct...hahaha
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Pillar of the Community
 Canada
5587 Posts |
It is much harder to find circulating coins in grades above 63 or so. On the other hand, EVERY Proof or proof-like coin is in untouched 65+ condition and will remain so for the rest of its life (life for them being in drawer or plastic or lockbox). That's why P and P-L coins will always sell for less than circ coins in the same grade. It's supply and demand, pure and simple. There may only be 1000 P-L coins struck, but only 200 people that want them .. prices will be stagnant forever and usually sell for less than the issue price.
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Bedrock of the Community
Canada
21605 Posts |
Your a quick learner Crazyb0.
Now if we can just get you to spell Canuck
with one'N', we'll be all set.
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Moderator
 Canada
10458 Posts |
PL, Specimen and Proof coins were struck for collectors.... as Bill said, they are all usually quite pristine.
Business strikes were struck for everyday use. How they were produced, handled and distributed were entirely different, and it can be a challenge to find a pristine example not marred by production and distribution (bag marks).
Lastly, for PL coins, the dies used were different (for the most part), striking pressure was higher and the presses were run slower. You get a coin that looks entirely different. The mirror fields can be attractive, but the matte fields with cartwheel lustre of a business strike is equally as attractive, and harder to find.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
United States
1352 Posts |
A little off topic, since I think TheForce was only asking about modern specimen coins, but some of the early (Victoria, Edward, George V) specimens were struck for other reasons; such as examples of design changes for the engraver, mint master, treasury, and the monarch to approve; examples sent to other mints; and presentation pieces for VIP's. Some of those were struck for collectors as well.
http://www.victoriancent.com2011 & 2025 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner. Life Member of RCNA.
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Pillar of the Community
Canada
849 Posts |
I would not call it negative impact. Just a case of two choices. If having the most perfect coin available for a more reasonable price, you can go proof-like/specimen.
If you are more attracted to the business strike concept of what the coin was intended to do, you can go that route.
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Rest in Peace
10197 Posts |
JimmyD, Blame Android Spell Check, it is auto-correcting that way on my tablet!  |
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Pillar of the Community
Canada
617 Posts |
I made the exact same mistake. It started when I was speaking to a long time collector who got out of the hobby but bought a pl set each year so that he would always have an up to date and pristine looking collection. I thought that sounded like a great idea and started doing the same, but have learned better since.
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Rest in Peace
United States
17900 Posts |
In the US mint sets and proof sets, as well as more recent special sets, have historically been purchased, as you listed - one or the other. Most collectors picked a set and kept buying them dutifully year after year. Today a new old cache of silver proof sets will attract some attention, especially if the 1950-53 are included. Everyone wants first crack at silver mint sets. You only need to find one super coin to more than pay for the set. Oh, no. What is all this brown stuff? CRaaaaaZZzYYY  |
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Pillar of the Community
Canada
1778 Posts |
You guy's are as good as the Comedy Network.  "We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Moderator
United States
23522 Posts |
Quote:
I was just so enamored with the flashy coins. This whole equation becomes far simpler if you just stop right there. If that's what moves your heart, why are you second-guessing? The only reliable way to make a small fortune in numismatics is to start with a large one; doesn't make much sense to impose profit-oriented rules in an emotion-oriented activity. Who knows what collectors will be "feeling" twenty years down the line? "Scarcity" makes for solid bragging rights when publicly discussing your collecting activities, but is my reaction to what you bought the definitive collecting parameter driving your efforts? If so, why are you letting me define what you collect? Chances are you'll be disappointed, because I probably like stuff you don't.  How does that help you when you're alone with your coins? If you're collecting what you like, questions like these are moot. The only thing that has a negative impact on collecting is not being able to find what you like to collect. Greater variety of strike intent can only have a positive impact, because it's another class of potential appeal, broadening the possibilities for collectors who may like things you don't. Canadian PL sets have undoubtedly diluted the market. It's just that, viewed objectively, there's no way to define this as other than a good thing. |
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Replies: 12 / Views: 2,674 |
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Posted 12/19/2017 1:58 pm
