I'm sure this has been hashed and re-hashed here several times but why not again for old time's sake? How many here have found a special AG coin they found so alluring that they had to have it? I purchased my first AG coin yesterday. An 1838-O dime. Along with another L.S. 'G' dime for a total of $24.00. I was prepared to pay 40-50 for the pair (which would have been a fair price) but, once again, thank you bad economy. I'm sure many people, including myself in the past, may scoff at or simply give the cold shoulder to the typical AG coin. Usually seeking a 'better' example to collect, of course. And for many issues, maybe it would make no sense at all to buy an AG example. To me though, this was a true, 'feel good' purchase without breaking the bank. That doesn't happen for me too often anymore. Or, often enough I should say. Now, I love proofs and BU, MS coins just as much as the next guy. But I believe the true 'coolness' of the AG coin often times isn't appreciated as much as it should be. Really, the AG coin is the true collector's coin in it's own unique right. They are unbelievable survivors. Take this 1838-O dime for example. The N.O. mint was built in 1837 with the 1838 dimes being I believe the first coins to roll off the presses. One of two years with no stars or motto on the obverse. It rolled off with 406,033 of it's buddies, and got dumped out to circulation as a shiny new instrument of commerce. At a time when coinage was in short supply and in high demand. Today, that coin is still with us, but now only the design is outlined. The date is readable, and the lettering around the edge is almost totally worn off on the reverse. The wreath totally worn down as well. You can't help but wonder how long it would take for a coin to degrade to this state? How much use would it have had to seen? Incredible really. You have to think back and realize how important of a role change used to play in society. Change used to have so much more value. Even in the 1960s, a dime would buy a candy bar or a bottle of pop. In the 50s it would buy a gallon of gas. So imagine what a simple dime would buy from 1838 to the late 1800s? The special part about it?? This coin was not stashed away and forgotten. It was sent out into the world and used heavily for what was probably many decades. It was probably still circulating during and after the Civil war. Just to think that somehow it made it. It didn't fall out of a hard working farmer's pocket into a field. It didn't get lost by a drunk, on a battle field, fall out of a pocket into the ground, or get lost under a counter somewhere. It didn't fall into a body of water, down a grate, lost in furniture, or lost over-seas. And finally, the major obstacle towards the end of it's useful life...... it did not end up back at a bank, pulled from circulation and melted like it most likely would have and should have been. Somebody decided to decommission it and stash it away as a collectors piece, or finally it was forgotten about in a drawer. It served it's primary purpose for many decades, as a dime, for hundreds of people, if not thousands. And somehow survived it all to end up in my collection. Besides that, the AG end of the spectrum is affordable and the least likely to be counterfeited, as natural wear is probably not the easiest or cost effective thing to want to produce. Another key factor: AG coins are probably a thing of the past. Modern day stuff no longer has enough value to warrant circulating as much as the old stuff did. The grade itself no longer has a use. To that extent, it makes you wonder if some day they won't have a premium like toned coins do now? As stated earlier, most small coins that would see so much use would be lost or melted before somebody could save them. Or maybe they'll never really be appreciated by collectors for what they went through and only be looked upon as worn out cast-aways? Who knows? I don't care what people do. I won't be the one begging for higher prices. The cheaper they are, the more I can buy and appreciate for myself. I'll post a pic and a weight after I receive it. I'm sure it's well underweight.
I love the AG coins. A solid AG coin to me is nicer in some respects than the high grade coins. I am not a coin grade racist - my collection includes coins of all grades, coins that I like. And yes everytime I go to the coin store I look at alot of AG coins - especially the older busties. Excellent post and I can't wait to see it.
I enjoyed this post, it could be an article or a blog entry. I was thinking about this while at work the other day, I work hard and I was thinking that those coins with all the wear on them were hard workers in the economy. They traveled from hand to hand, a dime might have passed from hand to hand, from pocket to till to pocket keeping the economy humming along. How many thousands of people needed to handle those coins to wear them as much as they are worn would be an interesting experiment, sort of like when you were a kid and wanted to see how many licks it took to get to the center of a tootsie pop.
I always think about people who are given coins by their parents/grandparents, etc. If you read most of these posts, the coins are just average circulated. They didn't go to the bank and get a bunch of uncirculated ones to hoard away for their descendents. Every once in awhile, they threw a nickel, dime or penny into the dresser drawer and slowly it grew to whatever size. I honestly don't think a 185x whatever SHOULD be uncirculated. We have so many members saying not to "entomb" your coins in plastic. Well, guys and dolls, if you have a 185x anything in Uncirculated grade, it has pretty much been entombed in something its entire life. LONG LIVE THE "AG" GRADE!
Here it is! It finally arrived today. It's been used and abused and apparently cleaned. The reeded edge lines barely visible, but I love this coin. Just a great piece of history. If I find a nicer one at a show, I might pick it up too, but it's cool just to own one for now. The diameter came in at exactly 17.90 mm. The original weight was supposed to be 2.67 grams. It's been worn down to 2.43 grams.
gotta love it ! Not a bad little coin, that one. 1838-O is a super-cool issue, and I think this coin illustrates your OP perfectly. :high5: Congrats !
Thanks! :thumb: The other L.S. dime I got is surely a strong 'G' so I've got all of 14 bucks wrapped up in this coin. NGC lists a 'G' at 48.00. I think it is a pretty cool issue too. I can see buying another one of these some day.
That is cool...would fit in perfectly with my collecting interests. And, better yet, my collecting budget!
I like the color on this coin, particularly the obverse. Subtle pink on the date, baby blue in the lower right obverse. Phase I of Newbie Coin Collecting is "Oooooh ! SHINY !!!". Everything has to be blast white. So what happens to this coin if we shine it up r-e-e-e-e-a-l good with some baking soda ? Oh, it would be shiny, all right. And it would lose its soul. Lovely little coin, just as it sits.
