"Hence it is foolish economy to buy coins in inferior condition"

I didn't care for the article. Who is it speaking to? Is it supposed to be speaking to every coin collector? What's 'foolish' is to believe that even if every collector was rich and could buy anything, there wouldn't be enough of the premium stuff left to go around anyway! Even now it's not that easy to find some higher quality coins for some series'. Many are lost or don't exist anymore.

I love both. Worn coins with character just as much as a pure MS coin. Each has it's own desirable characteristics to me. If I feel that way, there's a good chance others do as well.

Personally, I think the thought process that articles like this has instilled into people has put a market mandated, over emphasis, on gem BU coins and left circulated coins a little under appreciated, overall. Maybe undervalued? Especially for low mintages. I understand the thought process. Some stuff, I do want the best examples I can find and other stuff I don't care and am just as happy with an AG. AG coins can be more interesting and extremely affordable to own. Who cares what the value does on an AG coin? You probably didn't pay that much to begin with!!! Maybe the next coin you buy will be a MS67? Everything has it's place.

 

Log in or Sign up to hide this ad.

Focusing on only the highest-grade coins completey misses the point of coin collecting IMHO. A well-circulated coin will have been handled by more people (who knows who?) And has more charectar and history behind it than one that has been hidden away since it first left the mint.
For my personal taste, condition shouldn't matter that much as long as all the main details are still present..

 

That's what I took away, too.

While both approaches have their merits, being patient and saving your pennies while waiting for the right coin to come along is usually the most economical.

 

and most exciting ,I might add!

 

me three...

I was thinking the same thing lol... but the fact remains..."superior" condition is still valued more... period

 

Bingo! :thumb:

 

Although I agree with the advise from many responces above I would like to give another view. I have been collecting/hoarding/investing for a number of years now and I have never spent more then 20 bucks on a single coin. I have upgraded many coins in my collections many times over and still feel like I am ahead. I go through coins from the bank or buy junk silver and that is how I upgrade. I will return the coins to the bank or keep the silver in my pile that is growing since buying it a 8x face. I have over twenty albums started and some of them complete. I have a great dealer that has been nice over the years to let me sort through his silver bin which has resulted in many coins. I just purchased a lot of Barbers at 13x face which included dimes, quarters and halfs and filled several holes. Is this a high quality collection maybe not when looking at those Barbers but you would be surprised at some of the other series which are close to BU. I am very happy with my collection and will continue to add and upgrade coins as the thrill for me is the hunt and the condition of the coin is an added bonus.

 

You could almost apply Mr. Reinfeld's theory to the selection of a life-partner.

 

bust dime ms60 1987 bid $575 2009 bid $600
bust dime Good 1987 bid $7.50 2009 bid $25

SO much for that theory. What are risks of a good being overgraded compared to an ms60 being called a slider or worse.

No theory holds true for everything of course. Nice high quality coins are very desireable, but that doesn't mean they will go up the most. My guess is that many people buying the ms69 and ms 70 slabbed modern coins may someday wish they had bought a bunch of lower grade type coins instead.

 

Fred Reinfeld...

Is that the same famous chess-author Fred Reinfeld, or do I have my neurons crossed?

Seems to be the same time period, and a similar writing style...................

 

Yep, same guy.

 

A fool and his money are soon parted.

Most collectors here can afford coins one order of magnitude better than they buy now. If you can buy a coin for $45, you can go $450 in about a year. Rather than buy the cheaper coin now, save your money, $45 at a time and in 12 months buy a coin worth owning.

Grade is not the only factor. You mentioned mintage. Rarity is also a factor.

You did not mention damage. "XF details net VF" is a damaged coin. You are better off waiting for an XF that is not damaged and certainly if you want the VF for the VF price, then buy a VF without damage.

Nice, honest wear has eye-appeal and nice circulated coins from times gone by are always attractive. But it is false economy, a fool's purchase, to settle for less than you can afford when the issue is quality.

 

The wider the context the higher the abstraction

Since you are essentially paying the same price for all, then yes, your strategy is optimal. As you say, it is the thrill of the hunt. I did the same thing with my Whitman of Mercuries, built it from a dealer's bags of dimes. I sat in the store over several Saturdays. At some point, however, the 22-D and S aside, I still had holes for 30-something this and 20-something that, so I found stock in 2x2s. So, yes, I understand the collector's passion for the hunt.

But, again, that mode lets you buy them all at the same price and you always go for the better coin. Which is better, an AU with a scratch or an XF with no problems?

 

SO over the ages buying the best Siver dollar would have been

Unicirculated
then Gem BU
then MS65
then slabbed MS 67
then slabbed MS 70
then slabbed MS70
then slabbed MS70DMPL
now slabbed MS70DMPL w/CAC sticker
wonder what the next "BEST" will be......?

 

I'll answer that! The XF with no problems!

 

I'm bumping up this 5 year old thread of mine to see if it is worth any further commentary. What say you?

 

Just checkin' to make sure it was 'you' who had done that Cat........carry on......