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A recent podcast discussed the differing philosophies of the raw/slab markets.
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<p>[QUOTE="nerosmyfavorite68, post: 24858540, member: 134416"]It's interesting how ancient and U.S./modern collectors go about things in the opposite way, generally speaking.</p><p><br /></p><p>1) Cleaning - I believe cleaning is a no-no for U.S. coins. The only U.S. coins I have are circulation coins, so I'm going off what I hear.</p><p><br /></p><p>All ancient coins are from the ground (or sea). Cleaning has to be done, in the great majority of the cases. It's how much or how skillful the cleaning was, and what shape the coin was in when discovered. Stripping the patina (like the Heraclius Seleucia above) is frowned upon, but sometimes it can't be helped.</p><p><br /></p><p>*Here's some uncleaned or partially uncleaned ones. I wanted to assemble a set of 'befores' for different denominations. The large AR Tetradrachms are very difficult to find uncleaned. There are cases where a coin looks better uncleaned.</p><p><br /></p><p>The top two are silver Denarii. The bottom one is actually a shekel, but it's the closest thing to a Greek tetradrachm that I could find, uncleaned. </p><p><br /></p><p>Cleaning the top two would just result in unremarkable coins. These two have eons more interest as remaining uncleaned. </p><p><br /></p><p>[ATTACH=full]1593871[/ATTACH] [ATTACH=full]1593872[/ATTACH] [ATTACH=full]1593873[/ATTACH]</p><p> </p><p>**I suppose that some 18th/19th century U.S. coins are ground finds. Wouldn't they have to be cleaned?</p><p><br /></p><p>2) Grading. As I mentioned earlier, stated grade isn't too important to most ancient collectors. Probably 80% of posts on numisforums, no matter how expensive, don't have a stated grade. There's a difference between grade and condition. There's cases where condition goes out the window. I'd rather have a Brutus EID MAR denarius in clear Good (clear outline present, but otherwise good fields) than an EF Marcus Aurelius Sestertius.</p><p><br /></p><p>U.S./modern - Stated grade is very important,and even tiny grade fractions can make a big difference.</p><p><br /></p><p>3) Slabs - (mostly covered earlier) related to stated grade. I'm told that the purpose of slabbing is to preserve the grade. I.e. that no substitutions are made (although I've heard of funny business).</p><p><br /></p><p>I'd guesstimate that about 80% of ancient collectors don't like slabs, to various degrees. I'm also told that it's more of a U.S. thing, and not as much in Europe.</p><p><br /></p><p>3) Errors. A mint error can make a U.S. coin valuable. It's generally more of a curiosity with ancient coins (or can decrease the value). I generally avoid them.</p><p><br /></p><p>4) Toning/patina; Here's where we have a similarity. Both fields enjoy coins with good toning/patinas. I think some of those Morgan dollars with rainbow toning have been helped along (a certain dealer in ancients gives his silver something like naval jelly, to get the rainbow look).</p><p><br /></p><p>Oh yeah, phoney patinas are often frowned upon. But, with a coin which HAD to be stripped (because of BD or something), I'd rather have a faux patina than no patina. There's a couple of ancients dealers who are notorious for often having an orange patina.</p><p><br /></p><p>5) Rarity; It definitely can be important with ancients. Like the Aaron Berk podcast touches on, there's also times where it's not.</p><p><br /></p><p>6) Provenance - While I can appreciate a stellar provenance, it isn't greatly important to me, but it is to many collectors of ancients. I'm not sure about U.S., but I suppose a good provenance wouldn't hurt.</p><p><br /></p><p>7) Tooling - I.e. re-engraving a design. Generally a big no-no in ancients. I don't like tooling. I would assume that tooling would totally ruin value for a U.S. coin. </p><p><br /></p><p>*There's also a gray area in ancients to what is tooling because they have to be cleaned of dirt. Is removing corrosion tooling? That's a gray area. I'm talking about the egregious examples when I mention tooling. I also don't like smoothing of fields.</p><p><br /></p><p>8) Value guides. While some ancients references have stated prices (more as a rarity guide), there's no value guide for ancients.</p><p><br /></p><p>Are there any other factors which I'm forgetting about? I don't collect U.S. coins, so I don't really know what makes a U.S. collector excited.[/QUOTE]</p><p><br /></p>
[QUOTE="nerosmyfavorite68, post: 24858540, member: 134416"]It's interesting how ancient and U.S./modern collectors go about things in the opposite way, generally speaking. 1) Cleaning - I believe cleaning is a no-no for U.S. coins. The only U.S. coins I have are circulation coins, so I'm going off what I hear. All ancient coins are from the ground (or sea). Cleaning has to be done, in the great majority of the cases. It's how much or how skillful the cleaning was, and what shape the coin was in when discovered. Stripping the patina (like the Heraclius Seleucia above) is frowned upon, but sometimes it can't be helped. *Here's some uncleaned or partially uncleaned ones. I wanted to assemble a set of 'befores' for different denominations. The large AR Tetradrachms are very difficult to find uncleaned. There are cases where a coin looks better uncleaned. The top two are silver Denarii. The bottom one is actually a shekel, but it's the closest thing to a Greek tetradrachm that I could find, uncleaned. Cleaning the top two would just result in unremarkable coins. These two have eons more interest as remaining uncleaned. [ATTACH=full]1593871[/ATTACH] [ATTACH=full]1593872[/ATTACH] [ATTACH=full]1593873[/ATTACH] **I suppose that some 18th/19th century U.S. coins are ground finds. Wouldn't they have to be cleaned? 2) Grading. As I mentioned earlier, stated grade isn't too important to most ancient collectors. Probably 80% of posts on numisforums, no matter how expensive, don't have a stated grade. There's a difference between grade and condition. There's cases where condition goes out the window. I'd rather have a Brutus EID MAR denarius in clear Good (clear outline present, but otherwise good fields) than an EF Marcus Aurelius Sestertius. U.S./modern - Stated grade is very important,and even tiny grade fractions can make a big difference. 3) Slabs - (mostly covered earlier) related to stated grade. I'm told that the purpose of slabbing is to preserve the grade. I.e. that no substitutions are made (although I've heard of funny business). I'd guesstimate that about 80% of ancient collectors don't like slabs, to various degrees. I'm also told that it's more of a U.S. thing, and not as much in Europe. 3) Errors. A mint error can make a U.S. coin valuable. It's generally more of a curiosity with ancient coins (or can decrease the value). I generally avoid them. 4) Toning/patina; Here's where we have a similarity. Both fields enjoy coins with good toning/patinas. I think some of those Morgan dollars with rainbow toning have been helped along (a certain dealer in ancients gives his silver something like naval jelly, to get the rainbow look). Oh yeah, phoney patinas are often frowned upon. But, with a coin which HAD to be stripped (because of BD or something), I'd rather have a faux patina than no patina. There's a couple of ancients dealers who are notorious for often having an orange patina. 5) Rarity; It definitely can be important with ancients. Like the Aaron Berk podcast touches on, there's also times where it's not. 6) Provenance - While I can appreciate a stellar provenance, it isn't greatly important to me, but it is to many collectors of ancients. I'm not sure about U.S., but I suppose a good provenance wouldn't hurt. 7) Tooling - I.e. re-engraving a design. Generally a big no-no in ancients. I don't like tooling. I would assume that tooling would totally ruin value for a U.S. coin. *There's also a gray area in ancients to what is tooling because they have to be cleaned of dirt. Is removing corrosion tooling? That's a gray area. I'm talking about the egregious examples when I mention tooling. I also don't like smoothing of fields. 8) Value guides. While some ancients references have stated prices (more as a rarity guide), there's no value guide for ancients. Are there any other factors which I'm forgetting about? I don't collect U.S. coins, so I don't really know what makes a U.S. collector excited.[/QUOTE]
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A recent podcast discussed the differing philosophies of the raw/slab markets.
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