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 Replies: 26 / Views: 2,613 |
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Valued Member
New Zealand
227 Posts |
quote:
Originally posted by bm1947
Anyone collect Poor coins?
I don't know about collecting poor coins....
but I do not that collecting coins makes you poor!
it seems to me that coin collectors can be like farmers...cash poor but asset rich!!  Sometimes I will buy a coin that could grade poor just to fill a gap or just to satisfy my obsession when I can't afford anything better! |
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Pillar of the Community
 United States
5362 Posts |
grouse12 and others - I totally understand your point when it comes to filling the slot normally occupied by an expensive rarity - but the coin in question is a 1974 Denver Copper-nickel US dollar. That coin is a face value item that you can still find at banks in very high grades. They were actually never in general circulation (most were used in casino slot machines) so this coin must have been a "lucky pocket piece" that the owner rubbed for luck 24-7 for the past 30 years.
What struck me here was that this is an absolutely NO Premium value item in VF - so why would anyone attach a premium value to one in Poor condition? The payment to get it graded was several times it's raw value. So what gives?
I guess the attachment of collectors to Plastic Slabs and the value such slabs "add" to coins is the real subject here. Hard for me to attach any value to this at all.
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Pillar of the Community
United States
4589 Posts |
quote:
Originally posted by triggersmob
If they graded British coins with the american system, do you think this would be PO-01? This is the best side.
http://www.coincommunity.org/galler...um=267&pos=1
Steve
judging by what I have learned in this thread that would be a PO-0 LOL wow that is worn |
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Valued Member
United States
363 Posts |
Well, this is the first I've heard of this. I knew the poor grade existed, but didn't know some people collected them on purpose. I suppose they might not be a very good investment, because as the years go by, more and more coins would become poor, instead of fewer and fewer coins remaining in high grades. Just think if the poor grade craze began sweeping the nation, there'd be nothing left for me to afford but those old MS 65's that nobody wanted. That would be a shame.   |
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Pillar of the Community
United States
4589 Posts |
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Valued Member
United States
363 Posts |
Thank you for your willingness to share that burden, ScoutJim. It's nice to know I won't be alone in ridding the world of those high grade monstrosities. (It must be the boy scout in us) I wonder how many FR 2 coins have been resubmitted in hopes of obtaining a lower grade? That could really skew up PCGS's population reports! |
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Valued Member
New Zealand
227 Posts |
quote:
Originally posted by swamperbob
grouse12 and others - I totally understand your point when it comes to filling the slot normally occupied by an expensive rarity - but the coin in question is a 1974 Denver Copper-nickel US dollar. That coin is a face value item that you can still find at banks in very high grades. They were actually never in general circulation (most were used in casino slot machines) so this coin must have been a "lucky pocket piece" that the owner rubbed for luck 24-7 for the past 30 years.
What struck me here was that this is an absolutely NO Premium value item in VF - so why would anyone attach a premium value to one in Poor condition? The payment to get it graded was several times it's raw value. So what gives?
I guess the attachment of collectors to Plastic Slabs and the value such slabs "add" to coins is the real subject here. Hard for me to attach any value to this at all.
Yeah Swamperbob you are right the plastic seems to add value as does the name on it depending on the grading company! |
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Pillar of the Community
United States
4589 Posts |
quote:
Originally posted by adobero1
Thank you for your willingness to share that burden, ScoutJim. It's nice to know I won't be alone in ridding the world of those high grade monstrosities. (It must be the boy scout in us)
I wonder how many FR 2 coins have been resubmitted in hopes of obtaining a lower grade? That could really skew up PCGS's population reports!
LOL you have a wonderful sense of humor, I laughed while reading. Me and how many others are willing to share that burden RIGHT. Actually though I never was a boy scout. the word scout in my name was used originally before secure email for the Army and websites as a means to contact my soldiers. Scout being the Army term for Reconnosaince, and my first name of Jim and when I first used email 1999. but I do get that a lot. I should change it. I guess I and everyone else is used to it. By the way your Avatar did you build that. WOW Edited by scoutjim99
09/06/2006 02:46 am
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Bedrock of the Community
United States
14454 Posts |
quote:
Originally posted by adobero1
I wonder how many FR 2 coins have been resubmitted in hopes of obtaining a lower grade? That could really skew up PCGS's population reports!
ALOT!!! The PO-01 is the one everyone wants to get (if they cant get a high grade) because there will never be anything lower so its like getting a MS-70 but on the opposite side of the scale Edited to say:I guess I should say its like a PF-70 instead of a MS-70(not impossible to get but very difficult) Edited by Bryan1315
09/06/2006 07:53 am
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Bedrock of the Community
United States
14454 Posts |
quote:
Originally posted by triggersmob
If they graded British coins with the american system, do you think this would be PO-01? This is the best side.
http://www.coincommunity.org/galler...um=267&pos=1
Steve
It may qualify as PO-01 but if they cant tel;l what date it is (by any certain characteristic) or cant read the date then it would be ungradable and would be body bagged so there is a fine line between PO-01 and BB |
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Pillar of the Community
United States
1247 Posts |
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Replies: 26 / Views: 2,613 |
First Page
Posted 09/05/2006 11:42 pm
