Help me with the logic of lowball coins

Discussion in 'US Coins Forum' started by NIBBS, Jul 11, 2018.

Page 2 of 3
  1. Michael K

    Michael K Well-Known Member

    The P-01's can't be damaged, just wear, and the date must be readable.
    To me, when it is all said and done people are going to be left with a $5 coin in a $600 slab. They'll be trying to sell their coin in 20 years. "But you don't understand, this is a P-01." "It's less than G-04 it's $5."
     
    Michael K, Jul 12, 2018
    #21 + Quote Reply
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    This, along with about 100,000 other ways to collect, falls into the "not for me but have fun with it if you enjoy it" category.
     
    IBetASilverDollar, Jul 12, 2018
    #22 + Quote Reply
    Mr. Flute likes this.
  4. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    In regards to the sticker, there's an easy way to find out....

    That said, why do you feel it's absurd? One would think someone claiming to be an experienced dealer would understand this is simply another niche within a hobby full of them.
     
    BooksB4Coins, Jul 12, 2018
    #23 + Quote Reply
  5. ACE Mike

    ACE Mike Internet Dealer

    Whoops, guess I should have been more clear!
    Anybody who has looked at my website knows I sell a LOT of lowball coins!
    But, I price them fairly.
    The absurd part of the listing is charging MS-64 price for an item that retails under $10 raw. Anybody wanting a slab like that can simply buy a similar cent and submit it for grading and CAC stickering (is that a word?) for less than 1/10th the price they are charging.
    Sorry about the misunderstanding!
     
    ACE Mike, Jul 12, 2018
    #24 + Quote Reply
  6. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    You'd think so, but I don't think it's that easy. See, lowball collectors want straight-graded PO01 coins, and I don't think many tumbled coins would pass muster at PCGS or NGC without getting a "details" grade. Artificial wear won't do, unless someone's really good at it. (Some people probably are.)

    And you wouldn't want to start off with worthless pennies. You'd want stuff that's hard to find in "natural" PO01 condition. An Ike dollar, perhaps. A Silver Eagle. Commemoratives, particularly more modern ones. Stuff that didn't circulate much.
     
    lordmarcovan, Jul 13, 2018
    #25 + Quote Reply
    tommyc03 likes this.
  7. Conder101

    Conder101 Numismatist

    Try it sometime. I think you will find it isn't as easy as you think.
     
    Conder101, Jul 13, 2018
    #26 + Quote Reply
    lordmarcovan likes this.
  8. GDJMSP

    GDJMSP Numismatist Moderator

    Help me with the logic of lowball coins

    The answer to your question is a simple one and can be stated in 2 words - cool factor.

    If you want to explain it another way, answer it with pictures maybe, I think this works.

    AGE.jpg AGE rev.jpg



    This was just one of these coins that I carried in my pocket, every day, for many years. And to this day I am the only person I have ever met or even heard of who ever did it. That's cool factor at work.
     
    GDJMSP, Jul 13, 2018
    #27 + Quote Reply
    TypeCoin971793, tommyc03 and lordmarcovan like this.
  9. Gilbert

    Gilbert Part time collector Supporter

    Your pockets must be reinforced.
     
    Gilbert, Jul 13, 2018
    #28 + Quote Reply
  10. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Doug's pockets are made from a Kevlar-Kryptonite mesh.
     
    lordmarcovan, Jul 13, 2018
    #29 + Quote Reply
    tommyc03 and Gilbert like this.
  11. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    Good question. In my mind CAC'ing a coin means that it could almost grade 1 grade higher. So if you are after low ball coins you'd not want this. Unless of course a CAC sticker in this case means a P01-
     
    CoinCorgi, Jul 13, 2018
    #30 + Quote Reply
    green18 likes this.
  12. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    CAC on PO01 does rather defy logic, but since the whole thing does, well, then why not?

    PCGS and CAC both say, "Thank you very much for your money. Send us all the slick and worn-out coins you want."

    *cha-ching*

    *cha-ching*
     
    lordmarcovan, Jul 13, 2018
    #31 + Quote Reply
    tommyc03 and Dave Waterstraat like this.
  13. GDJMSP

    GDJMSP Numismatist Moderator

    You misunderstood, not several coins at the same time. But 1 AGE for one time period, another AGE for a different time period. The one in those pics, that one I carried for 7 years. The others were for shorter periods of time, but none for less than 2 years.
     
    GDJMSP, Jul 13, 2018
    #32 + Quote Reply
  14. Michael K

    Michael K Well-Known Member

    On the AGE I would be afraid to lose it.
     
    Last edited: Jul 13, 2018
    Michael K, Jul 13, 2018
    #33 + Quote Reply
  15. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    It ain’t as easy as it sounds

    355FE89C-F385-4F11-9DFE-6D1D1022C571.jpeg
     
    TypeCoin971793, Jul 13, 2018
    #34 + Quote Reply
    lordmarcovan likes this.
  16. TheFinn

    TheFinn Well-Known Member

    Homeoparthic Coin Collecting. The more dilute (worn) it is, the more concentrated (expensive) it is.
     
    TheFinn, Jul 13, 2018
    #35 + Quote Reply
  17. TheFinn

    TheFinn Well-Known Member

    A Green CAC sticker would mean it is solid for the grade. A Gold CAC sticker would mean it would grade at least one grade higher than that shown on the slab.
     
    TheFinn, Jul 13, 2018
    #36 + Quote Reply
    Michael K likes this.
  18. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    Ah, that is right. Doh.
     
    CoinCorgi, Jul 13, 2018
    #37 + Quote Reply
  19. Wheatmaster101

    Wheatmaster101 U.S. Cent Collector

    How was PCGS able to tell that the wear was artificial?
     
    Wheatmaster101, Jul 13, 2018
    #38 + Quote Reply
  20. Michael K

    Michael K Well-Known Member

    IDK. But could you really have full LIBERTY on a P-01 Morgan?
     
    Michael K, Jul 13, 2018
    #39 + Quote Reply
  21. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Good question, and I don't know know the full answer. But they have their ways. That 1879-CC dollar in Post #34 would've totally fooled me. I'd have assumed it was natural pocket wear.

    There must be microscopic cues and clues that tip 'em off to the presence of artificial wear. Maybe that coin had traces of whatever was used to retone it? Who knows. I'll bet some artificially worn "lowballs" do slip past them occasionally.
     
    lordmarcovan, Jul 13, 2018
    #40 + Quote Reply
    Wheatmaster101 likes this.
6 more messages...
Page 2 of 3
Draft saved Draft deleted

Share This Page