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 Replies: 29 / Views: 3,196 |
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Valued Member
United States
111 Posts |
For me, it depends on the series, and more importantly, my budget. I'd buy as low as G-4 if it was a key that I knew I wasn't going to be able to afford at a higher grade. If/when funds aren't an issue, I try to get the best quality I can as I'm sure most collectors do.
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Valued Member
United States
245 Posts |
I collect sets mostly although I do buy coins I like that will never go into a set. When I start to put a set together I make a decision up front on what the goals are for that collection and they vary by the set. The reason for it varying is I have a thing about trying to complete the set before I take the dirt nap (I'm 65) so I look at what it will take investment wise to build the set and then once I'm comfortable that my collection goals and intended invested capital matching up I will start the collection. On coins I buy that won't go into sets are coins I really like in the grades that I like the price point at. I have several large cents in VF-30 condition that will never be in a set and I'm thrilled with them. However in my Lincoln Penny set I won't go below XF in the early years except for the 1909-S VDB and 1914-D where I would be thrilled with a VF-30 when I decide to buy them. |
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Pillar of the Community
United States
1083 Posts |
There are an infinite number of ways to build a collection or to complete a set. The only person you need to please is yourself. While I have a goal of bringing my 7070 up to AU, my classic head large cent remains a VG-8 (with no corrision). I like the look of that original old coin and it exudes history - certainly not junk to me.
Edited by okie-colin
01/13/2010 1:02 pm
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Pillar of the Community
3660 Posts |
Low ball collections and low ball registry sets (as stupid as that sounds) are becoming popular with many folks, and it has nothing to do with affordability. Poor coins are bringing premium prices lately. The poorer the condition (but still recognizable), the higher the demand. Somebody here said something about history and character that lower grade coins contract from making a few spins around the block (I don't remember if it was on this particular thread or not). I do not mind lower grade coins for that reason. I have quite a few very low grade coins, and many of them are among my favorites, because they are interesting. The coin below is something that most folks would not look twice at, but since it is on your screen now, check out the cracks in 'cents' and 'states of', the breaks in ERIC in 'america', the Cud above AM in 'america'. Tell me this old worn, worthless coin doesn't have character in it's interesting features . The more wear to a break, the wider it will appear.  |
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Pillar of the Community
United States
3343 Posts |
For me it's the same old hobby it's been since I was 12. I'm rarely picky about condition. I prefer unusual coins that I can carry in my pocket daily rather than have them sitting in an album or safety deposit box. French revolutionary branch mints in bell metal, various world crowns, early SF quarters, whatever. I don't expect any of these coins will ever slab. It's just a pastime, like watching the Cubs.
I've seen a lot of high condition rare coins listed at several prominent dealers lately, waiting to sell. I don't think this bodes well for a short-term (ie under 20 year) investment. There are only a limited number of collectors trying to fill all the holes in a series with $10,000 coins. This could be seen as an opportunity - to get in while you can pick and choose - but I see it more as evidence of an annoying abundance of the coins that I used to consider rare.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
1571 Posts |
fyimo. and all the fine folke who are, like me, another collector with their own way of colecting. I am at present, working on completeing a full sett of FE/IHC cents. If anyone has checked the value of one of those "registry sets", you know there is a LOT of money there. I have stated, I am working on completing a "problem coin set. I lack the 1877, and 1909-S. I would be happy to have one of each date to finish the set. Time is not one of my best options. I am probably the oldest, of maybe the next oldest member, but, I like any other "kid', enjoy getting that new one, or the one that I needed to fill the set! I do not express myself to the satisfaction of everyone, and if any are, or were offended, I apologize. I was very surprised at what one of the owners of one of the MS65 Registry sets, (FE/IHC), statement that "He would love to see my problem coin set".``` This is not a coin, but it relates: My first car was an old "Model T" Ford. My dad gave it to me just before I went into service, (WWII). Since then I have owned several cars, but never a "brand-spanking new one. All my income was spent on 'feeding the kids, and sometime the grand-kids, as well. All my cars were "used', and when I owned them, were kept in good operating shape, so when I had to cross the US, to carry out orders, I knew it would make it, without problems. No Mercedes, , no mazzarattis, just fords, and chevies, for the most part. IOne could call them "problem cars", because the original owner didn't hold on to them. We do the same with our collections. I do the same. Fill an emty hole, then replace witha better coin. Do I have anything beside "problem coins"? Yes. I have many sets of proof sets, Bullion sets, PL sets mint sets. One thing I don't do, asI have read that others have done, is to "break one open", to pull a particular coin out, because it is worth more that a dozen sets, by it-self.
My comments were just my way of expressing myself, and after reading the various posts, appreciate the comments, pro, and con. I am not offended, and quite the contrary. I have seen Posts, with the varionus Danscos being shown, and appreciate their having shared. I love beauty, and can also appreciate the ugly. I know that , some where in the whole bunch of us, I probably qualify as one of the G-8, because not olny am I old, deaf ,legally blind, only have two teeth left, but I do have the honor, and pleasure of knowing, (if I make it that far), of celebrating 55 years with the same woman that I must have been "a Keeper", this next month. my biggest pleasure is that I lived long enough to be a great, great grandfather. it is not too common to see five generations, alive at the same time. I almost forgot to mention, I am lissing the 1909-S VDB for my lincoln set. And a whole slew of the different varieties for each different types of sets. You might say, I have my work cut out for me!
G'nite Folks,
Dick
Edited by livingdinasaur
01/13/2010 11:02 pm
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Pillar of the Community
United States
6384 Posts |
But to respond to the original question.... I would insist on a grade no lower than what is needed to see the important details of the coin. For some coins like early coppers that might mean a VG-8, since sometimes the dates are almost gone on lower grade examples. For large silver coins perhaps an AG-3 will still have enough detail to satisfy. This 1897-S half graded AG-3 by PCGS represents my personal lower grade limit:   |
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Valued Member
United States
245 Posts |
Like I said about my Lincoln Cent set I will buy the coins that match up well with the set but I won't break the bank getting there. If I can buy the 1909-S VDB or 1914-D that will fit in the set then I will and if I can't they will be the ones that one of my son's will need to get. The group has made me see the light on buying the 1950 to 1964 proofs I'm missing because my Dansco album decided to leave them out so I'm starting to acquire those. I'm even thinking of trying to get the 1936 to 1942 proofs but time will tell. I buy the best I can reasonably afford and that's where my set will end up. The rest will be left to the one who gets it and hopefully that won't be left with the collection in some dealers inventory. Edited by fyimo
01/15/2010 6:22 pm
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Valued Member
United States
317 Posts |
For me, it depends on the coin. For example, I've decided to finally chase a dream of mine and pursue a Standing Liberty quarter set. I'm a full time college student, and while I have a decent paying job at the moment,it's part time due to my commitment to my education. I have a decent collecting budget, but it's definitely not as big as some people have. For many of the coins in the set, I'll be able to afford Fine to Extra Fine, and even AU in some cases. Will my 1916 be in one those grades? or my 1923-S? No. I'm shooting for G-4 for both of those, possibly even a presentable AG piece for the '16 as it is completely recognizable as such without a trace of a date. For me, I'm just going to get the best coin I can afford for every date, and I will try to avoid problem coins. No matter what the grades of the individual coins, this will be a set that I will enjoy building and will always love. It's kind of my celebration for my 10th year of coin collecting and for my 30th year of life, and I will always remember this time in my life when I look at my AG-G 1916 just as much as when I look at the AU 1917 ty 1 I'm going to get from my local dealer this week. It'll be like my Anthony dollar set, which was the coin that started me collecting 10 years ago, and was the first set I completed. I still remember that time in my life when I look at those coins. |
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Valued Member
 United States
76 Posts |
Very well said. I see repeated reference to chasing a dream. That really is the magic of collecting isn't it? Most of the items I have acquired whther stamps,coins,autographs,fossils,etc have a story attached to them. The story might invole the means of acquisition, the significance of the itself, or some other aspect. It is this passion that separates the "collector" from the "investor."
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Pillar of the Community
United States
1283 Posts |
Personally *any* problem with a coin like cleaning, dipping, corrosion etc. always steers me away. I refuse to buy one but I don't fault someone else for having a difference of preference. There is a market for them, and of course they come with a reduction in value. For the same price I would just rather have a problem free coin with a bit more wear.
As far as grade goes - for the more expensive coins there is something to be said for lower grade examples. They're more liquid because more collectors can afford them, and with pricier coins an AG or G example will sell in a flash.
Although I prefer higher grade coins I certainly don't mind low grade examples. But I must at least have a clearly readable date to the naked eye.
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New Member
United States
31 Posts |
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Pillar of the Community
United States
1083 Posts |
I wouldn't buy thast coin at any price unless it were in a Genuine holder. Nevertheless I think you make your point In any condition a Chain Cent is a coin worth owning, just for the History alone.
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Bedrock of the Community
United States
14454 Posts |
a chain cent is one coin that would have to be authenticated before I would buy it also because the scarcity and value makes this a target for counterfeiters
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Replies: 29 / Views: 3,196 |
First Page
Posted 01/13/2010 12:49 pm
