why didn't I post a picture? maybe next week...

The Mercury dime set is languishing for lack of material that meets my set requirements. I can see the effects of this already as my ?ranking? slips again. Fortunately, I know I will never be in the top 10 or 20 ? so this is not a worry, but it would be nice maybe to break 50? That may not happen either.

Reading the journals regarding PCGS coins in an NGC registry is very interesting. I can understand both points of view and, obviously, I agree with those who say to include PCGS coins in the registry sets here. The old saying of ?buy the coin, not the holder? is very wise. I have yet to find an NGC-graded Mercury dime for my set, but that most certainly isn?t their fault. I have seen far too many very nice coins in NGC holders, but they are beyond my price range and my current collecting interests. One poster remarked about his coin losing value in a different holder. But it?s still the same coin, whether it?s in one company?s plastic or another?s? the value should be the same. Keep in mind, I am not bringing grading standards into the discussion. That is a topic I do not wish to bring up ? I do want to finish this thought by saying, however, that while the coin should have the same ?value? it is up to the market and the ?investor? to determine what that ?value? is at that given moment to that person.

By the way, notice that I said ?investor?. I?m beginning to believe that all collectors are investors. No, not like investing in the stock market. We invest time, energy, sometimes excruciating mind-numbing research into the coins we own and the coins we consider owning. We have an investment in them. This is different from investing to get rich in numismatics.

I was lamenting earlier this evening that I didn?t have any of the large American coppers to look at, but then I realized I have photos of many of my large cents. I find photos to be very useful ? they don?t always capture the complete nature of the coin, but they help a lot when your coins are sitting in a bank vault.

I mentioned last week the 1803 large cents. I completely forgot that I have two of these interesting coins in my collection. My two specimens are the S-243 and the S-255. A little on the S-243 this week and on the S-255 next week. The S-243 grades VG-8 in terms of sharpness, but was net graded (minus defects) G-6+ by the dealer. The S-243 is not really that rare as far as copper large cents go? 600 to 2,000 of them are out there and that is just an estimate. Now what is the condition? Choice, Average, or Scudzy? I?ll use Jack Robinson?s condition descriptions for a net graded G5 coin in the latest edition of CQR ? definitely not Choice (it has a few marks, the reverse legend is wearing down on the left side, etc?). Ok, is it Scudzy? Definitely not a problem coin, no heavy or even moderate porosity, no corrosion that I can tell. That leaves Average ? a few marks, not messing with eye appeal. A little rough in one or two sections, but nothing distracting and I wouldn?t call it porosity or corrosion, maybe just honest wear. After this coin is 206 years old? I would have no problems calling it Average or maybe even Average Minus if I have to.

So now I have an 1803 S-243 VG-8 net G-6+ Ave- (just to be conservative)? CQR tells me this coin (in G-5) is (given the sharpness, net defects and condition) an R-4 coin. R4 coins are estimated to have a population of 76 to 200. Did I mention this coin is also an example of a scarce late die state?

Sheldon tells me that this coin is dated 1803 but was actually minted before some 1802 large cents in the same year of 1803. Sheldon remarks ?the same thing is encountered four or five times among the early cents, and probably indicates that when a number of dies were still in good condition and not worn out, the transition from one date to the next was sometimes accomplished more or less gradually, with occasional returning to a die of the earlier date, perhaps in order to ?use it up.?

Fascinating stuff. I need to learn more about the late die state ? a perusal of some old EAC journals may help in this ? thank goodness for the CD that packages all the journals from 1967 to 2007 in Acrobat format. I?ll look into this and see what I can find out.

On a side note, the Stella Coin News website (affiliated with DLRC) has put Lange?s Mercury dime book online with free access ? saves me having to buy the book now.

Dave Bowers in right in suggesting that you spend time with your coins, examining them, researching their history. You can appreciate them as more than just old pieces of metal.