Author Topic: Conservation and cleaning of modern coins  (Read 15940 times)

0 Members and 1 Guest are viewing this topic.

Offline Lynnetteasis

  • New Member
  • *
  • Posts: 24
Re: Conservation and cleaning of modern coins
« Reply #30 on: November 19, 2013, 12:31:04 AM »
The above, latest post refers to loose coins already circulated. Of course if graded, encapsulated or already in a coin holder then that is where they stay.

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 29 613
Re: Conservation and cleaning of modern coins
« Reply #31 on: November 19, 2013, 12:40:46 AM »
Pefectly clear, Lynnetteasis. Also, please refer to my reply #27 above. Many don't believe in third party grading and slabbing; your mileage may vary.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Prosit

  • Moderator
  • Honorary Member
  • *****
  • Posts: 3 935
Re: Conservation and cleaning of modern coins
« Reply #32 on: November 19, 2013, 01:17:58 AM »
I think there is a place for third party graders. I don't think we should rely on them to replace learning about our hobby and being able to grade coins in general. 

But...I might like to have an early US Large Cent say KM 22 (1801-1807) for example. I might like it in a VF grade.

Depending on year that coin might cost between $225 USD and 5,000 USD. But a Fine grade might cost hundreds or thousands less. I am not likely to collect all years due to expense and learn the ins and outs of the series and grading them but I might like one for a type set so a TPG begins to make a lot of sense.

No 100% guarantees but I am certainly less likely to throw hundreds of dollars into some dealer's pocket unnecessarily for a lesser graded coin than I want by using a reputable third party grader in this instance and less likely to buy a counterfeit example.

It is kinda like insurance. It doesn't always do what it should but a lot of times it does.

Dale






Pefectly clear, Lynnetteasis. Also, please refer to my reply #27 above. Many don't believe in third party grading and slabbing; your mileage may vary.

Peter

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 29 613
Re: Conservation and cleaning of modern coins
« Reply #33 on: November 19, 2013, 01:54:54 AM »
Sure, if that's way you like to do it, why not? It probably makes sense in your situation. It doesn't in mine.

If I were prepared to spend that kind of money on a single coin, I would budget an amount and start looking around. I wouldn't spend the money until I see a specimen that pleases me. I wouldn't grade the coins I see and I wouldn't look at the grade the seller gives it. I wouldn't worry about not getting a high enough grade for my money, because I wouldn't sell it. My taste would be the only deciding factor. It's not even a question of eye appeal, because that's not subjective enough. :)

Very important in my approach is never looking back. I don't keep records of what I paid, don't remember prices and don't care if I see a better specimen later. In fact, I bought most of my coins without consulting catalogue quotes or the internet. If I think it's worth it and I can afford it, that's enough. What counts very heavily is how badly I want the coin, though. That's not quite the same as chasing a coin. I look at what's available and decide what I like best.

Maybe an example might clarify that. In Madrid, I went around the market without a catalogue or want list. One dealer had a medal I liked. He wanted more money than I was prepared to pay. No deal. I enjoy going around and see some cheap, interesting counterstamped Spanish coins. Bought some. See some older Spanish coin that look identifiable to me but sit in a rummage tray. Got some, just for looking them up. In a lost corner is a lady with a bucket full of civil war emergency money. Got some. Got some more for friends. Enjoy sunshine. Talk to andyg and Spabreda, who have seen the medal and some more counterstampers. The medal is cheaper and better than the one I turned down. The counterstamped coins are too seductive not to add another sampling.

No planning, no specialisation, no inventory, badly updated want lists. Bliss for whatever I pick up. Grateful to friends. Make some happy with duplicates etc. It's a very relaxed way to go. I can recommend it.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Prosit

  • Moderator
  • Honorary Member
  • *****
  • Posts: 3 935
Re: Conservation and cleaning of modern coins
« Reply #34 on: November 19, 2013, 02:16:23 AM »
And that is very close to they way I feel and do things too.  However there are several things uppermost in my mind when I buy what I consider an expensive coin which is rare but it does happen ocassionally.

1. I am not searching after nor do I want a counterfeit.
2. I am not wanting to spend more than I can get the coin I want from some other reputable dealer/seller.
3. I am not wanting a coin that really grades less than most people would grade it.

I do on ocassiona like I am talking about chase a specific coin with a certain eye appeal with usually goes with a specific grade.

What never enters my mind is speculation on a coin or what I can sell it for...I couldn't care as like you I am not going to sell it.

What does concern me is that if I buy a coin for $500 that should/could have cost me $250 is that I now have less scarce hobby funds to spend on some other coin(s). It isn't actually the fact that I paid too much, it is the fact that I unnecessairly restricted my hobby endevors for the next few months by paying too much.  Minor distinction but a real one for me.

Thinking about it, I haven't carried a coin list with prices to someplace where I bought a coin in...well I can't actually remember a time when I did that.

I like to get a few coins every month...can't always do it. If I was to buy a $250 coin then I am out of business for several months.

I think it some cases a TPG coin helps me maximize my enjoyment of the coin hobby by helping me not make a mistake.  Not fool proof but a help.

Dale




Sure, if that's way you like to do it, why not? It probably makes sense in your situation. It doesn't in mine.

If I were prepared to spend that kind of money on a single coin, I would budget an amount and start looking around. I wouldn't spend the money until I see a specimen that pleases me. I wouldn't grade the coins I see and I wouldn't look at the grade the seller gives it. I wouldn't worry about not getting a high enough grade for my money, because I wouldn't sell it. My taste would be the only deciding factor. It's not even a question of eye appeal, because that's not subjective enough. :)

Very important in my approach is never looking back. I don't keep records of what I paid, don't remember prices and don't care if I see a better specimen later. In fact, I bought most of my coins without consulting catalogue quotes or the internet. If I think it's worth it and I can afford it, that's enough. What counts very heavily is how badly I want the coin, though. That's not quite the same as chasing a coin. I look at what's available and decide what I like best.

Maybe an example might clarify that. In Madrid, I went around the market without a catalogue or want list. One dealer had a medal I liked. He wanted more money than I was prepared to pay. No deal. I enjoy going around and see some cheap, interesting counterstamped Spanish coins. Bought some. See some older Spanish coin that look identifiable to me but sit in a rummage tray. Got some, just for looking them up. In a lost corner is a lady with a bucket full of civil war emergency money. Got some. Got some more for friends. Enjoy sunshine. Talk to andyg and Spabreda, who have seen the medal and some more counterstampers. The medal is cheaper and better than the one I turned down. The counterstamped coins are too seductive not to add another sampling.

No planning, no specialisation, no inventory, badly updated want lists. Bliss for whatever I pick up. Grateful to friends. Make some happy with duplicates etc. It's a very relaxed way to go. I can recommend it.

Peter