Collecting Low-Grade Coins?

I've been informed of this psuedo-collecting which comes in the form of lower grade coins. Apparently some series are harder to find in extremely low grades and this has sparked an entirely different market for these coins. My question is.. are these just rare in that there aren't many slabbed? I still don't understand the entire process. Do you collect or know about low grade hunting?

 

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It would have to be more modern I think, There are many worn barbers but something like an ASE in VG8 or F12 with honest wear would be something uncommon that is a low baller, just my take on it.... Could be wrong please correct if so.

 

Sort of pointless IMO. Coins can always be worn down to lower grades, never the oppostie.

 

They are called lowball sets. If you want to get an idea of the competition, take a look at these PCGS Lowball Registry Sets. The Morgan Dollar guys take this pretty seriously. It is a little silly if you ask me, but to each their own.

 

The idea of "lowball coins" has a certain appeal to me, but only within fairly strict "conditions".

The most enjoyable part of this hobby, for me, is the history of any particular coin. I've mentioned before, my favorite coin is a 1912 British Penny I found, in all places, in a roll of halves while CRH.

It is of no real value for any reason...what...MAYBE $2-$3 to someone? If that? It's not an error, or anything unusual or rare...it is, in fact, rather worn.

But...good grief...the stories that thing could tell! How does a 100 yr old coin from the UK wind up in a roll of US half dollars? And what's the wear from? A child buying candy? Was it given to a street beggar? Heck...could it even have been in the pocket of a Titanic Survivor???

Those stories are what fascinate me about this hobby. These...things....these historical artifacts we collect...they had JOBS. They stored value for someone, and acted as a means of exchanging that value for goods or services.

The more worn they are....the more stories they could tell, as far as I'm concerned.

Don't get me wrong...many coins have beautiful designs, and in high grade or beautiful to observe and/or own. I'm certainly not "anti-MS" or anything.

But "lowball" coins...IF they're honest, original wear, from actual use in commerce...they are history. Since I'd insist that the wear was "honest and original", I'd be willing in many cases to purchase a slabbed coin if the slab "authenticated" it as such.

 

Yes and Yes. The problem is getting these very low grade coins in no-problem slabs. Most very low grade coins also have problems which used to keep them out of the slabs back in the days before genuine and details slabs. Then again very few very low grade coins are slabbed unless they are key dates. That makes them very hard to find already slabbed so you have to try and make your own. So you try and locate a nice Poor-1 coin, spend a bundle to slab it and then it comes back a no grade, or details, or a Fr-2 or AG-3. Not low enough and you have to try again. It's harder than you might think.

Yes some people try artificially wearing the coins but that is usually detected and they come back details. They there are just some series that don't come in low grades.

 

like small dollars

 

Collecting low grade graded coins is just another way of collecting. There are some series that are known for low grades while some are most likely rare. Getting the really low grades is just as challenging as getting the high grade coins.

 

Ah, but hopefully such a coin would be slabbed as "Details: Artificial Wear".

I can see the value and interest in both MS coins and worn coins. For older coins, I generally like them gently worn. Luckily, those are a lot cheaper and a lot easier to find.

 

Oh, goody. I can't wait for the daily threads: "Is this AW or NW?"

 

Well, with that 1913-S quarter in particular, it probably got slabbed for authentication, and will probably sell to someone who wanted an example that fit a three-figure budget. I'm thinking that I bid a few hundred bucks for one in comparable condition, and didn't win it.

 

Not quite, I don't do it myself, but sometimes finding a PO-1 coin is just as hard if not harder than a high grade coin, you have to be able make out the date, and most coins that still have the date showing will grade 2 or 3, here is the pcgs lowball registry set, you can see how many coins don't have a PO-1 graded example.

http://www.pcgs.com/setregistry/default.aspx?c=139

 

Available in your forum soon!!

 

Low grade Barber coinage, as pictured in the first post, is common as all get-out since these series were used until they were essentially polished blanks. Newer coinage, such as Ike dollars, would be where there is an enormous challenge finding honestly circulated pieces at that grade level.

 

I guess this could be considered a lowball coin (it's my pocket piece) but to me slabbing a coin in interest of the lowest grade possible seems somewhat illogical.

What's really strange is having a CAC-stickered lowball coin. You have to wonder, would it not be less desirable as the intent of CAC is to have a professional determine whether or not the coin is in the higher part of the grade, and the point of lowball collecting is getting the lowest grade possible?

 

The Obv of this one might qualify

 

Yes, I also believe since this is a key day, it was slabbed to authenticate it was in fact a 1913s. More common coins are essentially bullion at that grade.

 

Just one more way folks have fun with the hobby.

 

Yep i love low graders!