Why I Prefer To Collect Circulated Versus Uncirculated US

[This is a repost from another board, for those who happen not to frequent the NGC forums.]

I thought it would be fun to put down my thoughts on the topic of why a collector (like myself) prefers to collect circulated coinage versus uncirculated coinage. There are some obvious and not-so-obvious reasons. The only uncirculated coins I own in my collection are moderns or very common late 19th century early 20th century coins. Of course, I love early proofs (no wear thank you...I don't like 'em impaired), but that's a whole different story. Here's the list:

1. The single biggest and most obvious reason is cost. Yes, if the cost is a simple linear change between grades and it's not a huge jump in price (it's all relative and depends on the series), then uncirculated might make sense. However, for the 19th century coinage I've collected, that's generally not the case. UNC's are usually much, much more expensive.

2. I have an easier time grading and "understanding" circulated coins. Also, in coordination with the first reason, there's usually not a massive jump in price with a single grade point spread like in the UNC's. Yes, you can probably come up with a myriad of examples where there are such spreads Like Fine and Very Fine mid-20's Buffalo nickels, but I'm trying to be somewhat general. I have an easier time knowing what I'm looking at and knowing if it looks like it has been processed or not. I have a much more difficult time with UNC's for some reason. I need more experience, yes, but my comfort zone is with circulated coinage. Oh...and, yes, I can still get totally pooched on a coin that I discover later a problem I didn't know to look for or didn't think much of at the time. I've been schooled more times than I care to admit on the purchase of various 19th century UNC's (or so-called UNC's).

3. Usually, I buy the coins raw and I can handle them. For some strange reason, if I buy a coin in a slab, I shy away from wanting to crack it out. I tell myself, I'm buying a particular coin to crack out and it never happens. Unless it's a high priced coin or I prefer a slab for authentication and/or protection, I'll go for a raw coin. It's neat to be able to hold onto a piece of history...carefully!...and even let friends and family partake in that privelege. These coins were made for commerce, they're "used", and they were meant to be handled. Light handling won't hurt a coin that's already VF/XF, as long as it's done with care and rarely.

4. I aim for VF-AU coins which should be easier to find than UNC's, but not always. I usually don't like anything below VF unless the coin is extremely difficult to find in that grade (or better) or extremely expensive. For example, I own a choice F-12+ 1872 2¢. I've been looking for over 2 years for a better grade and a reasonable looking coin. No luck. I like my coins to basically show full or nearly full detail. Even in VF that's generally the case, as long as it's a halfway decent strike.

I'm curious to hear what you folks have to say on the topic. I realize there are those of you who disdain circulated coins and only go after the cream of the crop. More power to you. I wish I had the type of funds to collect the variety of coins I have in UNC, but I don't. Plus, when you show off these coins to lay people, they tend to understand the age and connect with the history a bit better if the coin looks like it was "used" a bit.

I love coin collecting. And, I love to share it with people. Let's hear your thoughts.

Bruce