I don't get it..What's the point of buying

It's three things: registry set mania, conditional rarity AND a major research project.

PCGS exhibited "The End of the Trail" collection at ANA 2 years ago. He's continued to 'improve' the set and it's GPA is now 1.058.

http://www.pcgs.com/SetRegistry/alltimeset.aspx?s=82663

http://www.pcgs.com/ezine/imagesforweb/hoyman-set-registry-brochure.pdf

Some of the coins were so worn that you couldn't actually see the date, but various die markers in protected areas allowed for the positive identification of the coin. Reportedly it took two years of research to prove out one of the coins.

But that level is only possible in something like Morgans or Peace dollars where there has been enough research in dies and die marriages.

 

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I leave Ikes out of it because people are deliberately wearing them down to qualify, and talking about it in public. At least the Morgan guys are keeping their mouths shut.

 

I just have some that I keep as pocket pieces because I think they'd look cool worn and I never seen worn examples. So I'm making my own!

 

And most of the PO1 Morgans and Peace dollars actually were worn in the casinos.

Still, there is a difference between a 1-off pocket piece and DELIBERATELY trying to achieve the level of wear. Say putting 5-10 coins in a bag and running the dryer for days at a time with the bag and a load of towels on no-heat.

 

Fill a coin tube but leave one short so there is movement but no damaging defacement to the coin itself. Then secure it to a paint shaker. It wouldn't take very long.

 

I do not consider myself a low-ball collector but as with all collecting, the value is in the rarity of the item. Certain low-ball coins are more rare than UNC coins. The rules as I understand it is the wear must be through the ordinary course of circulation (no grinding the coin); the coin should be problem-free, e.g., no after-mint damage, scratches, etc.; and you must be able to determine the date and preferably the mint as well. It is also interesting when you find a VAM or mint error.

Like any collecting hobby, it is fun and given some of the prices being paid for low-ball coins, it can be profitable.

 

In another thread I mentioned what I thought about low-ball collections. That is, once you've put together the absolute worst set possible of Morgan dollars, what do you have? A whole bunch of ugly coins, in my opinion. Don't get me wrong: I think a collection of well circulated coins can be appealing, but not when they're Poor-1 or Fair-2. A nice AG-3+ can be a decent looking coin, but when you go much below that, you've just got a bunch of dogs with not enough detail to see even the major devices. Just one collector's opinion, of course.

 

That's brilliant. And I have access to paint shakers.

 

A few titanium coin tubes and you're set!

 

slightly off topic, how do folks load up coins in their registry with non-PCGS coins? I saw a few in an everyman set too. Didn't think they allowed that.

 

Tell the truth. This whole idea is a bar bet. "I bet I can get coin collectors to do something dumber than you can." The guy who thought up lowball sets won the bet. Getting them to think reverse proofs make sense came in second.

 

There's always someone out there with a gimmick....the guy that started a low ball commem collection got in on the ground floor years ago. Others, hoping to echo his achievements, subsequently paid higher for what they wished to achieve. Actually though, low ball grades on some (if not most) commemorative (classic) coins are indeed quite rare. I've never seen a worn Albany, Hudson, or Panama. They might be out there, but that would mean some fool placed that coin in their pocket change and walked around with it for a few years. What idiot would do a thing like that? And for a low ball set? Bragging rights? Kind of an expensive way to achieve ones end.........

 

Proving once again that morons will do anything if you just gamify it.

 

Lowball collections do not appeal to me. I can see where some collectors would like the fact that they obviously have been in commerce. However, it is discouraging to hear the ways that even these can be faked. Along with cleaning, polishing, whizzing and artificial toning, has anyone ever figured out how many collectible coins are being annhiliated in the processes?

Just a thought....

 

I like low grade early silver. Especially in nice original gray skin. Not a fan of fake low balls but like coins that were circulated heavily or carried as pocket pieces. I have a friend that carried a unc peace dollar until it was a silver slug with no characters at all. His second is well along the way. Was unc is probably vg now

 

Condition, Rarity and Demand, Lowball coins have all three. I guess people really don't like the fact that a P01 Morgan can, price wise, blow the doors off an MS66.

 

The way some here view Lowball collectors (Morons and Idiots) is how 99% of the population view coin collectors as a whole.

 

Get them to swallow it, then just keep feeding them a steady diet of it. Marketing grading. If they were honest, they'd call it that.

 

By the same token, once you've put together the absolute BEST set possible of Morgan dollars you have a whole bunch of ugly coins, in my opinion. Morgans, to me, actually look better once that horrible looking design is worn off.

No two collectors are alike. Everyone has a preference with which others may not agree.