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30 Mar 2020

Chronicles of a Numismatist: Grading Woes

Coins-United States | user_14581

I am a PCGS fanatic. I like NGC and ANACS also, but for me the aesthetic appeal of the PCGS holder along with the high prices realized made it easy to go with. I appreciated early, when I first started, David Hall's video market report that he would make almost on a weekly basis at one point. With their video series on coin grading as well, it again made it easy for me to send my coins to them. Albeit I live in Florida, and NGC is in my back yard too.This recent submission was based on the 4 coin free grading submission I received for the level of service I currently subscribe to. I have too many choices, which is a good thing, but I figured I would use the 4 coins I have which are brilliantly toned. (I love errors and you can't send errors on the free submissions you receive, I will probably never submit toned coins for that service either ever again). Yeah, I am a little touchy on this as you are reading. Hence perfect article in my opinion because not all of our hobby is roses and sunshine days. Sometimes in our best efforts we receive epic fails or mishaps that tend to semi halt the progression, but only for the purpose of learning from my error(s) so that I don't do it again. Never halting to stop collecting, not even close.So 3 explanations on my choices for submission: A) My first choice was the 1886-P Morgan. I bought this around 3-4 years ago from a small dealer outside of Orlando. It was in a 2x2 stapled flip (can't stand those) and when I saw this coin I knew I had to have it. It was not priced at a toned Morgan pricing should have been, but the color and toning did not scare me nor brought any concern. B) 1963 Washington Proof Quarter. This was purchased through a huge purchase I made from a 2 generational family collection that was turned into the Boy Scouts 1-2 years ago. I bought a complete 1955-1964 Proof set 2 fold, One set complete unopened OGP and One set opened OGP. The Grand Father and Father bought tons of the same year and just hoarded them year after year. Mercury Dimes, Morgans, Peace Dollars, etc. So I opened the sealed sets I had because I was nosey and wanted to see how they looked. The 1963 Proof set screamed from the Washington. The Franklin has toning across the bust of Franklin but nothing like this Washington. The dime has some toning too. C) The 1962 Franklin and Washington come from a OGP '62 proof set. These along with the dime and nickel are wonderfully toned. The dealer that sold me the set actually wanted to not sell it to me because after he took it out of the case I continued to look through his shop and he came around to show me the packaging the coins were in and said that he didn't like the toning and didn't want to sell it to me. I said I still wanted it, especially since we had talked for 1/2 hour about grading services and how he offered to always submit coins for me if I chose to.So February I decided to submit my coins for grading and used my 4 coin voucher for this. About 4 weeks ago I received the grades and photos and ALL the coins came back Details- Questionable Color. I was pissed. Honestly, I am by no means a perfect expert and would not call myself an expert but to receive 4 back questionable? Man, I just said to myself, "Never again a voucher for a toned coin". Not a chance. I submit raw coins, and with raw coins I get the adherent risk reward. But these 4? To me I don't get it. You see Morgans that are outrageously toned with pinks and lime greens. I have seen a major auction house have a graded Washington that was highlighter yellow and it was mint state. The PCGS Rare Market report one month had that substantially Gold Coin that was Red and Blue toned all over... Gold! So I had to ask myself are they saying I doctored the coins? What does each coin stand in it's own merit?I finally determined they don't believe I doctored the coins. Had they, I believe they would have not graded and sent them back to me. Okay, then what are they saying? I researched the auction house I mentioned earlier and also NGC. (I wanted an alternative TPG because I needed to see if they have received similar coins that I have and gave same grading). I did find a ton of NGC Morgan toned coins that have both obverse and reverse with a halo ring of toning and they Detailed Graded the coins. Buttttt... after I was just about to stop I found an equally amount of Morgans from NGC with Halo toned rings with full grades. Now I am back at square one. What about the '62 Proof coins? Well the pictures don't do it justice. The orange and amber looks like a forest fire on the coin especially with the dark spots looking like ashes. I have only seen one or two Franklins close to that and they were both Net Graded by PCGS. The '63 Washington Quarter? I haven't seen the blueberry color like that obverse and reverse. It is brilliant and wonderful. What I have seen is a huge gathering of toned Washingtons in auction houses that have vibrant toning and sometimes reminiscent of colors from Morgans and sometimes out of this world. I have noticed that coin series tend to have toning that is particular for that series. My Proof nickels I have from these sets, some have that awesome dark blue or bright blue that you see in pictures on PCGS coinfacts, but that particular toning isn't found on Proof Washington or Proof Franklin coins. But I research toning and study it. Heck I collect antique silver and some of my pieces tone magnificently and other pieces go dark very fast.Where do I stand? Well I could send these back saying you got these wrong, but I am skeptical. I do plan to take these to one of the dealers I have a strong relationship with to talk to him and see what he thinks.For now though I have to sit and practice social distancing. But when this ban is lifted I do plan to make an appointment and receive a good educational experience. This will be updated once I speak with him.

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30 Mar 2020

TPGS

Collecting Tips | slybluenote

When I first started collecting coins/money I had never heard of "Third Party Grading Services". Back in Dec. 2019when I started collecting again, I had retired and decided to "get smarter" about collecting. Below is a picture of theONLY TPGS coin that I own. I promised my buddy MikeB that I would post the picture. As I told MikeB, the reasons thatI bought the coin were I thought it was a nice looking coin, I had heard that this is the last year that the mint was going touse this design, and I could afford it. My research so far indicates that you can grade your own coins. My favorite book that I've purchased so far is TheOfficial ANA Grading Standards book, 7th Edition. I've read it TWICE and still consult it regularly even though I've onlygraded a couple of my coins. Soon I will post the first coin that I graded in my collection. I've also read about grading onthis site. My MAIN takeaway in grading is look at a LOT of coins, especially the ones that you are collecting. Now, everytime I visit my local dealer, when he sees me come into the shop, he automatically gets out all of his Kennedy Half Dollars! I've also upgraded my library to include The Kennedy World in Medallic Art, by William R. Rice and A Guide Book of Franklin& Kennedy Half Dollars, Third Edition by Rick Tomaska, which I've only read once. The pictures in these books is GREATand shows fine details in the coins. I will continue to research this topic. My final assessment though is "grading" is a lot likelife, with age comes wisdom. Until my next post, enjoy the beauty of the silver dollar I purchased from Gov.mint !

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30 Mar 2020

The Midnight Ride of Sybil Ludington

National Coin Week | Al Raddi

Sybil Ludington was a 16-year-old girl who reportedly rode her horse Star 20-40 miles (estimates vary) on the night of April 26, 1777 through Putnam County, NY using a stick to prod her horse and knock on doors to alert militia forces under the command of her father Henry Ludington of the approach of British forces.

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30 Mar 2020

ANACS CLOSED!

Coins | Longstrider

Just a quick notice to all. Also still PCGS. No wonder my token doesn't seem to be moving at NGC. Lets not forget our ANA Library is also closed.

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29 Mar 2020

The Eyam Boundary Stone, English Coinage, and the 1665 Plague

| Well worn Copper

In 1665, a plague swept through the English village of Eyam. The residents of Eyam selflessly self-quarantined themselves and depended upon food and medical supplies from outsiders. To safety facilitate trade, villagers would leave vinegar-soaked coins in the holes of the village's "boundary stone". (It was believed vinegar would make the coins sterile) Outsiders would then take the coins and leave food and supplies, thus minimizing the plague's effect on the town's people. The Eyam Boundary Stone still rests in it's original spot, and because of the Coronavirus pandemic has reminded people everywhere of the mercy of strangers. That's something to reflect upon should you have a 1665-dated English coin in your collection.

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28 Mar 2020

Coin Collecting

| Ty Guy

Hello everyone a was just wondering what you guys had been doing over the past month because of the Coronavirus outbreak. I have been looking at my coins and I am trying to find different varieties and also VAM varieties for my Morgan Dollars. So what have you guys been doing?Thanks,Tyler Jorgenson

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28 Mar 2020

A Little Known Wonder X 60

Medals-So-Called Dollars | Mokester

One of the best things about being an ANA member is the opportunity to share knowledge with each other. There is not a day that goes by that I do not learn something new and do not find a new collecting niche that piques my interest.

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28 Mar 2020

1978 Pope John Paul I Vatican Coin with Mylar Packaging

| Well worn Copper

A few days ago I purchased a silver 1978 Vatican City 1000 Lire coin. What makes the piece special is it was issued under the brief 32 day reign of Pope John Paul I. The coin came in it's original cardboard presentation case, which unfortunately included what appears to be a removable soft Mylar cover which slipped over the coin. The coin doesn't show any problems from the Mylar, but I have removed it just the same. The Mylar also shows a indentation of the coin, which is scary, considering it's been there since 1978. The coin is silver and I am considering just leaving it in the cardboard case as is (without the Mylar of course) until I get it slabbed someday. My question is this: If left in the cardboard, could the coin possibly tone, like coins in old Whitman folders did after many years? Or should i just put it in a 2x2?

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28 Mar 2020

The Jefferson Nickel

Coins | Long Beard

With the release of a West Point (W) mintmark, in three finishes, a first ever in the 82 year series run, this weeks blog topic touches on the creationof the collectible Jefferson Nickel. No other currently struck series has had more design changes, seven in total. With four finishes and four mintmarks. Not to mention numerous varieties and errors,this series offers collectors many possibilities. A series which is fairly easy to complete in mint state grades on nearly any budget. If you haven't, why not start a collection today? Enjoy!

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28 Mar 2020

Ok I Went And Bought One

Coins | Mike B

Ok the secret is out. Yes i did pick up a 2019 proof Uncirirculaded silver dollar. Why . Well we buy what we like. Yes this is a man made rarity. So why? I wanted to pass something nice to the kids.. But as my friend will tell you this was not about the highest bid. This seller had i dont believe him but you dont know what to believe. So out came the caculature. I always said buy in your budget. I asked Pay Pal if i could have six moths of interest free. No problem. Here came the hard part. I noticed a seller who had many of the proof 69. Now the bidding had slowed. I called and asked him a question. How many do you have.? Would you like and help me sell them.i said no thanks im not set up for that. I continued to watch the bids.slow.They were lower.and lower. Now for you who werent here for this Caous. The mint decided to end the series with a special eagle. Only 30,000 and i have no idea how many collector there are some.say 20 million collectors. I dont know how.many there are. But when the clock struxk 12p.m. E.S.T. 90 000 were in there bags. I was on and kicked me of. My friend got to check out and was down out. An instant sellout at the mint. It was crazy. They wanted tens of thousands for these. My friend said Mike the price will drop So now im watching one coin. I new the bidding had stopped . Less than a day to go. My bid went up. I didnt need six months now about four. Tjats not a hundred a month but it was vert much in the bufget. Some buyers waite till the last minute and snipe you. Didnt happen!! I had won all the work came to an end got it last year. But i smashed the mint on what they did. I waited and gave many people q.chance. . As my friend said they will drop i never thought woul win with that bid. Othere were selling higher What im trying to say is bidding is hard on a budget but you can do it. I did you can. I also at the time checked the NGC verification app. They had it doubled than my bid. So i oulled the trigger. There is a sxience to bidding when your on a budget. I only bought three tokens since then they will be paid.ahead of time. Because of the bid and how much i had to bid n with. Thanks Mike

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