How far should I pursue my collection?

[UK Decimal +]

I am still trying to decide how far to take my collection, but have the following aims in mind.   Perhaps tomorrow might be a different story.

1)   One example of each UK decimal coin that is currently in use, that is, one of each year and denomination and description of all that have been issued into general circulation and have not been demonetised.
2)   One example of each of the ones now demonetised.
3)   Fill in as many of the gaps as possible with BU or Proof examples, although I am quite happy with lower graded as long as they are 'respectable'.
4)   Collect as many as possible of any that have only been issued as BU or Proof.
5)   Where varieties exist, such as the 1992 10p coins, try to get one of each.
6)   Again, if the BU or Proof differs from the general circulation issues, one of each.
7)   Special sets, such as the 2009 50p '18 varieties' may have to wait until I can afford them, but I shall have to balance this against availability.
8)   Extend, when possible, to Maundy money, both post- and pre-decimal.
9)   Add any other examples of 'not demonetised pre-decimal' when I can. Further, I would also like to get a few representative examples of the coins that I grew up with.
10)   Constantly watch for new issues and add these as a continuous process despite the order of the previous listings, thus keeping the collection 'up to date'.
11)   I am only interested in coins in base metal although of course this will extend to silver with the Maundy money, etc.
12)   Learn all that I can about my subject and try to become an accepted 'expert' in the field.

As you can see, it is my intention to restrict the main collection to UK decimals, but to add a few pre-decimal where applicable.   I shall also 'save' any interesting Euros or other foreign coins that interest me, although most of these will be passed to my nephew who is more of a 'coin saver' than 'coin collector' and likes to collect coins that appeal to him.

This list is open to debate and I will listen to any further advice given.   Thank you all for your replies so far.

Bill.

[Galapagos]

Being more of a world collector, I have gaps in my UK knowledge. Here are some questions that your last post raises for me, Bill:-

1] What is the difference, if any, between pre-decimal and decimal Maundy money?

2] Is all Maundy money struck in silver?

3] What are you classifying as 'not demonetised pre-decimal', and do you know this for a fact?

4] "I would also like to get a few representative examples of the coins that I grew up with." Won't some of the Edwardian ones be very scarce and/or expensive?

[UK Decimal +]

OK, but I'll answer that in parts.

First, Manudy money.

1822 - Maundy money struck in 92.5% silver.
1921 - standard reduced to 50% silver in common with all 'silver' circulation coins.
1944 - last ordinary 3d 'silver' coins circulated.
1947 - standard of 92.5% reinstated for Maundy money, but not other 'silver' money, 6d, 1/-. 2/-, 2/6, 5/-.
1971 - Decimalisation, Maundy issues continue at 'p' values and existing 'd' coins became worth the appropriate number of 'p', i.e. they increased in value 2.4 times overnight.
2009 - still issued in 92.5% silver.

You might like to refer to http://www.maundymoney.info for further details.

As usual, if anyone notices something wrong here, I'm sure that you'll let me know.

Bill.

[UK Decimal +]

Thanks, Bill. And the link answers another question I had - what are the denominations? They are 1, 2, 3 and 4 - "d" or "p", depending on the date, presumably.

Yes, 1d, 2d, 3d, 4d from at least 1822 and now 1p, 2p, 3p, 4p commencing 1971.

Bill.

[UK Decimal +]

My list of 'wants' has now got short enough to publish it in the 'Wanted' section of this forum.   One thing that arises from this is the wording that I have used relating to condition.   I require what I call 'respectable circulated' by which I mean that I am not looking for anything really special such as Proof or BU.   In fact, I prefer them to be from circulation so that I am not scared of handling them.

For the future, I shall have to get Proofs / BU to cover examples of ones that never were circulated but that will be at a later stage.   I am also looking for variations between issues during the same year (such as the 1992 10p).

I also have on order four pre-decimalisation Crowns (5/-) and this is a subject that I shall be building on as they and the £££ for them become available.

I have chosen to use a small dealer 'up north' and if the present deal is successful, I will post a link to his site.   He is the first dealer that I have used other than the Royal Mint.

Bill.

[UK Decimal +]

I think that perhaps I've created a problem for myself.

As an extension (backwards) from UK decimals, I've chosen UK Crowns (and Crown-sized), all £5, 25p and 5/- varieties, although of course some will be well outside my budget.   But another consideration has now arisen.

As I said earlier, I don't want to be scared of handling them and like the condition to be 'respectable circulated'.   The Royal Mint have assured me that all varieties of Crown have been issued into circulation (although I'm about to question them on this).   Some of the gaps I've had to fill with Brilliant Uncirculated or Proofs.   There are plenty more gaps to fill so it should keep me busy for a long time yet.

But, I do like the Proof issues.   To me, they are a perfect example of the coin, far better than the uncirculated BU issues.   I want Proofs as well as circulated!   What does annoy me however, is that some Proofs differ in minor details from circulation standard coins and I think that this means that there are two different varieties for the same year issue.   If a variety is issued into circulation it should be exactly as the Proof (except for the better finish, such as a matt relief).

Any thoughts on this?

I'm also collecting 3d Threepenny Bits, both varieties, which will mean a mixture of 92.5% silver, 50% silver, and brass.   I hope to extend this to the 4d (Groat), and Maundy types together with some post-1971 examples.   All I need now is the £££ to buy them with although my dealer is very reasonable.

Bill.

[Figleaf]

The proofs are what would make your collection interest expensive. The farther you go back in history, the more often you will find that the proof sets are giveaways to the rich and the well connected, not circulation pieces and certainly not for sale to the public. They come in presentation boxes that may have tarnished them and they have often been badly kept. In terms of numismatics and history, proofs carry little or no extra information over circulation strikes. However, the bottom line is that it is your decision what to collect.

Likewise, maundy coins are an expensive addition of non-circulating pieces.

Peter

[UK Decimal +]

Another question on Proofs and special issues.

Unless in sets or packed in a proper display holder, most single coins come from the Royal Mint sealed in a small pack measuring 90mm x 120mm.   These fit nicely into my system.

A few however come in 'presentation packs', still for the one coin but encapsulated in a large folder 135mm x 190mm or 175mm x 100mm.   Boxed sets are no problem, all the ones that I have are 170mm x 125mm x 25mm high, but other sets come in thin 155mm x 155mm and 135mm x 190 packs.   I have no doubt that other sized packs are also used.

When I have a Proof or BU coin or set, it seems natural to keep it in the original case or pack, but this is causing storage problems and I would like to have my coins by year.   I am happy to keep sets complete as a separate part of the collection but the single ones in mixed size packs are causing me problems.   Unfortunately, year sets do not always contain all coins for that year.

I am obviously keen to retain as much value as possible and also want to show the packaging but I also want the collection to be viewable without having to open (unfold) a lot of different size packs.

How do you keep a mixture of sets, and single coins, some in small packs and some 'loose'?

What is your preferred method of storage?

Would I lose much by ripping the packs open and transferring the coins to clear envelopes or capsules?

Bill.

[andyg]

How do you keep a mixture of sets, and single coins, some in small packs and some 'loose'?

I take them all out or the packaging (except for the proof sets)   
sometimes they can be added back without problems, other times not so.....

[Figleaf]

It depends on the packaging and the scarcity of single coins for me. If I am likely to keep the coin or if I can put it back in the packaging I'll take it out. If I am not likely to find single equivalents and the packaging doesn't allow me to put them back I'll keep them in the packaging. I do not appreciate proofs, though, so my case is different.

Maybe this is a good time for you to step back and ask yourself why you are collecting. Maybe this contribution and indeed that whole thread is of help to you in the stage you are in now.

Peter

[UK Decimal +]

Thanks Peter, I was aware of that thread.

I am happy with my decision to try to collect one of each UK decimal issued, even if I have to buy Proofs to get them.   I am not referring to off-metal strikes.   From what I've seen of 2009 coins in circulation, I'm glad that I decided to get a set, in BU as it's cheaper.   I only have one Proof for 2009 which is the £5 Big Ben which I have not seen mentioned in any other grade.

Continuing on my 'decimal' theme, I'm looking at coins which still appear to be valid, such as Crowns, Double-Florins, plus Maundy money and the similar 3d etc.   I like the Crown, and as has been said the silver 3d is a fun coin and as the brass ones were only struck from 1937 to 1967 I am getting just a few as comparitive examples.   I was surprised at how much interest my 1944 set attracted here.

The future?   I'm certainly not going to try for any full sets of anything other than the decimals but I want to keep that as up to date as I can and try to become an expert on the subject.   The other coins?   If I can get pairs of years to show a last and first (such as between reigns or major design changes), that would be ideal.

My real problem is one of storage/display.   Should I think about albums?  If I could get a year-card (like the 1944 one that I illustrated) for decimals too, that would be ideal.   Until I can decide on a suitable storage method, I am a bit stuck and that is where I am looking for guidance.   I would be happy to keep Proof sets in their display boxes but am trying to think of a good way of storing the 'loose' coins.   I think that an album with one year per page (or similar) and perhaps Proof sets in their boxes might be OK.   Should I get some capsules for the best ones?   Do capsules fit in albums?   Do albums admit too much light and dirt?   This is where I need some guidance.   Please!

Bill.

[Figleaf]

My real problem is one of storage/display.   Should I think about albums?

If storage space is a problem, albums are the best solution, because it is the most compact way to store coins that still allows you to see them easily. If you want long-term storage and you will not be looking at them regularly, any kind of box of the right size for coin cartons is even more compact.

Should I get some capsules for the best ones?

The advantage of capsules is that the best are airtight. The disadvantages are that they are bulky, hard to store and they have to fit tightly, so you need many different sizes. They are probably worthwhile only for expensive single modern proofs. Older coins were toned long ago. Most people find the toning attractive.

Do capsules fit in albums?

In principle they don't. You may be able to press the smaller ones in, but this will ruin the album page when you shift coins. Cartons will drop out easily afterwards.

Do albums admit too much light and dirt?

If you look at the coins regularly, dust is not a problem. Light is not a problem for coins, unless they are printed on, which is seldom the case. I don't know if colorized "coins" suffer from light. Anyway, my complaint is that in an album, there are so many layers of plastic that it's hard to see the details.

Peter

[UK Decimal +]

Thanks Peter,

Here is the extent of the problem for 2008.   

Loose coins - 17 coins, all different, in 'circulated once only' condition with full lustre and negligable scratches.   At present I have them in individual 'ziplok' plastic packets about 6cm square.   These are kept in a larger packet of the same type.   Oh, plus one coin with die rotation.

Sets - only one, the last of the old type coins in BU condition which are in a 140mm x 190mmx 7mm display pack.   These are duplicated (above) in circulation standard.

Year 2009.

Loose coins - only two.   (That's how few there are around).

Sets including single coins in BU (1 Proof) - 5 packs of different sizes, plus a couple more on order.


I understand that the use of this type of plastic might not be desirable, so I might have to be getting another type, hence thinking about albums.   Would I lose by taking BU and Proofs out of their display packs and putting them into albums to make up complete sets that way?

I do not keep spare circulation coins, apart from anything that might be considered unusual.

Any thoughts?

Bill.

[a3v1]

Would I lose by taking BU and Proofs out of their display packs and putting them into albums to make up complete sets that way?

@ Bill,
You will be at a loss only whenever you'll be trying to sell the coins that you have taken out of their display packs. As a rule complete packs always are more valuable that loose coins taken from same. But if you're not contemplating any sale ever, there's no problem at all.
I myself have bought most of my Euro collection in BU-sets (and sometimes even Proofsets - if the coins aren't issued in BU) and took all the coins out to put them in my albums. I did so because circulated coins are less attractive to me. Theoretically this will result in a considerable loss if I ever sell the collection. But I won't. I am collecting for the pleasure it gives me, and not in the hope of a future profit. I am a collector, not an investor.
Regards,
a3v1