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coinsbygary

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Journal Entries posted by coinsbygary

  1. coinsbygary
    The joy and focus in assembling a registry set
    One of my favorite categories of collecting is type coins. I put together a set of major designs (no die varieties) that fit into a picture frame size Capital Holder. I can remember my joy when I purchased a 1799 Bust dollar to fill that last hole (a single hole in a set drives me crazy, kind of like a 1916-d Mercury dime hole in a Whitman folder).
    Since then I have discovered the registry set. One of the cool advantages of registry sets is that these sets help you organize your collection. It also gives you goals to attain. My PCGS and NGC coins I have transferred into ?Gary?s Type Set?. Several other coins I have need crossover grading from holders not eligible for the registry. Yet still other ?problem coins? will never fit into any registry set. Six of my problem coins I listed on EBay and with the proceeds purchased an NGC 1930-S MS-64 Standing Liberty quarter. Not a bad trade off, since one of the coins sold was a Standing Liberty quarter. Now I have five coins I need to purchase to take the place of those I sold.
    The largest advantage of the registry set may be the focus on quality coins. Purchasing quality coins to fill slots in the registry only improves the value, quality, and appeal of my collection. This does not mean I only purchase MS-64 and higher coins. It only means I buy the best my budget allows. An affordable VF coin with good eye appeal can be an acceptable alternative to an MS-64. Since type collections focus on the type, I can purchase cheaper higher quality non-key dates.
     
    Now my registry set has slots for die varieties, giving me an excuse to purchase new coins to fill those slots and further increase my collections value. The only problem I have with my registry set is that there is no slot for my VF-20 PCGS 1799 Bust dollar! Since that is the case, I know I have a slot in my journal to post it. Enjoy collecting coins! The possibilities are near endless.

  2. coinsbygary
    It is not often that I talk about my Christian faith on a coin forum, but in this instance, the two are intricately entwined and inseparable. So follow along with me as I chronicle an improbable journey culminating with three new coins for my collection.
    Oftentimes the lines between the important and the most important things in life become blurred and the important overtakes the most important. Moreover, that transition can be so subtle that we are often not aware of it.
    Every Year in the month of January, my church observes a month of prayer and fasting, and each year I participate in this at some level. This year however, I felt strongly led to fast from buying ANY coins during the month of January because over the past year I had been overextending our family finances to buy coins. A month long abstinence from buying coins would help me to determine how important collecting coins had become in my life. Subsequently, if I found that my priorities were out of order, I could then put coin collecting back into its proper perspective as a distant third to God and family. This also meant that I would have to pass on any coins from my want list that became available during the month of January. Not coincidently, it is on this point that three coin purchases I made on February 3 get very interesting.
    In January I needed three coins for my Wilhelmina 10 Gulden set to reach a goal of every coin grading MS-65 or higher. Two MS-64 examples of those coins, the 1925 and 1926, had been in my collection since its inception almost four years ago. Like many of you, I receive e-mails from E-Bay of new items on my want list. However, 99% of the time I find nothing of interest. Nevertheless, on Monday January 28 a new listing with a closing date of February 3 appeared for a MS-65 1925 Wilhelmina. I thought, praise God, if this listing had been posted a week ago I would have had to pass on it. Over the next week there did not seem to be much interest in the coin, probably due to its high opening bid. Then Sunday morning February 3, I woke up to find in my want list a MS-65 1926 Wilhelmina as a BUY IT NOW. I had to pinch myself to see if what was happening to me was true! Four years I have waited to upgrade these two coins and now in one day I could have both! The BIN was a tad high, but after a four-year wait and a lower graded coin to subsidize the purchase, I didnt waste any time in snapping that coin up. Later that day I won the other coin as its only bidder. Now my set of eleven coins has six top POPs and only one MS-64 left to upgrade.
    If those two coins were the layers of the cake, this coin is the icing. Not long ago I discovered a Guatemalan one-peso coin that I found attractive and desired for my Inspirational Ladies set. An E-Bay search produced two BINs, an 1895 MS-64 for $400 and 1896 MS-62 for $275. Oftentimes, the Numismaster Price Guide lists the values of world coins only up to MS-60, thus making it difficult to gage fair prices for high-grade world coins. After about a month of watching the listing for the 1896 MS-62 coin recycle, I thought that I would buy that coin after my fast. That was until a true auction 1896/5 MS-63 listing with a closing date of February 3 appeared on my want list. Interestingly, the one thing I could determine from the Numismaster price guide was that the over date was $35 more valuable than the plain date at MS-60. Subsequently, I set up a snip for the coin at $305, which is what I would have paid for the other coin plus $30. At the end of the auction, I won the coin for $155.50 with postage! I now had a coin that was presumably scarcer and had a higher grade for more than $100 less than the other coin. Then I realized that had I not been on the fast, I would have certainly purchased the other coin and missed the blessing. There is then a lesson in this for me to be patient and wait.
    In summary, I believe that if I honor God in my commitment to him, he in turn will honor me. More often than not, he will not honor me by allowing me to buy more coins, but he will always be faithful and bless me in other areas of my life. You see, its not about the stuff, but about the relationships, and whether its my spiritual relationship with God or my relationship with my family and friends, my relationships are more valuable to me than all the coins in the world. This truth then is the lesson of the fast.
    So until next time happy collecting, and look for a Coin of the Month column on my Guatemalan peso coming soon.
    Gary

    To see old comments for this Journal entry, click here. New comments can be added below.
  3. coinsbygary

    Walking a Tight Rope

    By coinsbygary,

    Purchasing coins on a strict budget and the balance between registry points, grade, and eye appeal.
    Greetings all, buying coins for my New Orleans, Morgan Dollar registry set, ?Born on the Bayou? has been a challenge. In the past, whether I could reasonably afford a particular coin or not, if I liked the coin, I bought it. All too often, to buy the coin I wanted, I pushed back other priorities. The problem with pushing back other priorities though is that they eventually come back to nip you in the butt. Case in point, I recently had to have $1500 worth of repairs on the car and without cash reserves those repairs went on the credit card. Now my wife wants me to get a new car, but I rather drive a clunker with no car payments so that I can buy more coins! At any rate, the car should be good for a while now. The point is, I hate living on a budget, but I must admit that by being on a budget I am learning how to buy better coins for less money and have fun doing it. Trades-offs between price, grade, registry points, and eye appeal is where the fun comes in.
    With the Numismedia Fair Market Value as my guide, I can acquire most of the coins for my set well within my $200/coin limit, however, there are some coins that are definitely on the edge. One of those coins on the edge is the 1894-O dollar. This coin has a FMV of $192 in AU-50 that rises to $420 in AU-58. I briefly considered this coin in XF-45 for $90 FMV, but quickly dismissed it when I discovered it earned a paltry three registry points! Three points are NGC?s way of saying, ?We acknowledge that your coin is a coin, but you get no credit for spending $90 on it?. However, in any AU grade, this coin garners 366 registry points, effectively narrowing my choices to one coin, AU-50 or bust. In the past year Teletrade sold only one coin within my price range and all the E-Bay, ?Buy it Now? listings were just over the limit. On a side note, most coins offered on E-Bay as a ?But it Now? tend to be overpriced. Therefore, true auctions are the most likely place to get the coins you want at a good price. One such E-Bay listing had a PCGS AU-50 1894-O bid fairly close to my limit with very little wiggle room. I put the coin on my watch list anyway and set up my ?Snip? program to bid my best offer with six seconds remaining in the auction. Not expecting to win the coin, I was pleasantly surprised to find that I had won the coin for a little less than FMV!
    Conversely, with the 1897-O dollar and a FMV value of $86.40 in AU-50, $120 in AU-53, $156 in AU-55 and $270 in AU58, I have several options. Since this coin gets 304 points in any AU grade, to save a little money, I bought a nice AU-53 coin Sunday evening on Teletrade. Once again, I acquired this coin for a little less than FMV. Comparing both the 1894 and the 1897 coins, it would seem that the points? street runs both ways.
    My latest purchases leave me with only five coins left to buy. I should be able to buy the 1887, 90, and 1901-O dollars as rainbow toners, although rainbow toned coins of these dates rarely come up for auction. The 1889 and 1892-O dollars may give me a little trouble. If I am patient and persistent, I should be able to get the 1889 coin in MS-62 condition. The 1892 is a little tougher with a FMV of $192 in MS-61. Both coins earn three points in AU condition. The main problem that enters into the equation on low-grade MS Morgan Dollars though is an unsightly abundance of contact marks. Do I take coins with poor eye appeal or toned high-grade AU coins with three points? The balance here may be to get toned MS coins that hide the contact marks to give the coin a little more eye appeal. On the other hand, I may buy a blast-white coin with lots of contact marks to illustrate poor handling of coins by the mint in my owner description. Still yet, dare I say, is the option of going over budget to get a higher quality coin. For now, I have a good set, and I am in no hurry to complete it. Patience is the order of the day, and patience concerning this set has not failed me yet.
    Thinking the silver train left me behind at the station; I calculated the silver melt value of my set to be about $450! With that, I am encouraged to know that I am on board the silver express after all! Until next time, happy collecting all!
    Gary

  4. coinsbygary
    I know I'm not crossing over my PCGS world coins.
    If there's anything I cannot stand is changing the rules in the middle of the game. It's like if I can't win, let's change the rules until I win. All along, we've been told that our PCGS coins are welcome in the NGC registry, but now I'm treated as a 2nd class citizen because I have PCGS coins in an NGC registry. Granted, it is an NGC registry, and I've always felt a set populated with more than 50 % NGC coins should have some kind of preferential treatment, but this is over the edge.
    If NGC wants to change registry policy, then as suggested by other collectors on the boards, existing PCGS coins could be grandfathered or some sort of gradual weaning policy maybe instituted, but a drop-dead date of January 31. You have got to be kidding. At any rate, I am disappointed by this move, and I am suspicious of NGC's motives.
    Fortunately, this policy change only affects two of my world sets, "Gary's Golden Wilhelmina Guldens and Gary's Britannia's." The Wilhelmina set was created as a whole and this new policy will break up the owner descriptions. Three of eleven coins in this set are PCGS, but each of these coins is significant. The MS-63 1898 is rare and hard to locate; the MS-65 1911 is graded at my set goal, and the MS-67 1917 is the highest-grade coin in the set. For the Britannia set; five of 14 coins are PCGS, but the lone MS-70 in this set is PCGS. The question now is "where do I go from here"?
    What I can say is that I am proud of both these sets, PCGS coins and all, and that they need to be displayed. The Wilhelmina and Britannia sets are among the best in the world and what NGC does with their registry does not change that one iota. PCGS and NGC are the top third-party graders, and I am not crossing over my PCGS coins to fit a NGC registry. If only I knew how to design a web page to display my sets there, I would. I can't go over to PCGS because I run into the same problem. So what do I do?
    When the change is instituted, I am moving both these sets to the "custom" side of the registry where I am told PCGS coins are still welcome. I will leave my registry sets as placeholders for the eligible coins and place a link in the set description to the corresponding custom set. This way I can display my sets as a whole.
    I may not win many awards, but that does not change the fact that I am proud of the sets I have created. In the future when I upgrade the coins in either of these sets, I will buy NGC coins only. In spite of the changes coming, I still prefer NGC graded world coins.
    In the end, when you get right down to it, it's not about the registry or the plastic, but about the coins. If you have a set that you are proud of, you don't need a registry to tell you that, so happy collecting!
    Gary
  5. coinsbygary
    My first year as a member of Collectors Society
    Many of us have heard the clich? ?what a difference a year makes.? This saying, though a clich?, has a lot of truth to it and my first anniversary on May 31, 2009 as a member of ?Collectors Society? is no exception. A year ago, I joined Collectors Society with the express purpose of directly submitting my raw gold coins to NGC for grading. Now a year later, my collection resembles nothing of what it once was.
    I have been a coin collector for about 35 years. In that time I focused mainly on US type set collecting. Having a large number of raw coins, I wanted to enhance my collection by certifying my coins. In the past, I had ignorantly submitted my coins to lower tier grading companies. Having done a little homework I found that NGC and PCGS were the only legitimate choices I had. Trying PCGS before without renewing, I decided to try NGC.
    I remember my first submission, three out of the five coins in my free submission, returned as PFUC-70?s. To say I was delighted was an understatement. As a percentage of coins in a submission grading 70, this submission stands as my best. Now a year later, I have 11 coins that grade either PFUC-70 or MS-70. These coins reside in a special signature set called ?Gary?s 70?s.? Though I have purchased many 70 graded coins, ?Gary?s 70?s? is only for submissions.
    For my first two to three months in the society, all I concerned myself with were submissions. Then towards the fall of 2008, because of my fascination in the beauty and imagery of ?Lady Liberty? I started a signature set called ?female images on coinage from around the world.? At that time, my set concentrated solely on designs. As I began to research and compile the history of my coins, my collection started to focus more on allegories and the persons commemorated in history. This is when I changed the name and focus of my set to ?Inspirational Ladies.? Since then NGC has honored me by naming ?Inspirational Ladies? the ?most creative? set of 2008. The beauty of this set is that it is still growing, and now has over 50 coins. From this set, I have spun off a number of registry sets, namely ?Gary?s Britannia?s? and ?Gary?s Golden Wilhelmina Guldens.? Other signature sets include a bird themed set called ?For the Birds? and a set commemorating famous African-Americans called ?Prominent African Americans.?
    One of the features I enjoy about Collectors Society is the journals. I enjoy reading about others who share their passion for collecting coins. Many of the tips and insights I read about, I have integrated into my own collection. Because of the contributions of others within the Society and my love of writing, I started to share my own experiences with the Society through journaling. Since January 2009, I have made 27 of my own journal posts. My hope is that as I receive enjoyment and insight from other journals within the Society, that others experience the same from my journal posts.
    As I stated earlier, I had many of the coins in my type sets graded by lower tier grading companies. To be included in my NGC registry sets, I had to get them crossover graded. Unfortunately, many of those coins turned out to be problem coins. Now I find myself having to purchase new coins to replace my problem ones. The silver lining in this is that though expensive, I will eventually have a type set populated with quality coins.
    I think the greatest benefit of the past year for me is that membership in Collectors Society has helped me to organize and catalog my collection. Registry sets provide the benefits of both organization and fun competing with other collectors.
    I do not know what the next year holds for me in terms of coin collecting, but renewing my membership for another year, I am going to find out. Happy collecting all!
    Gary

  6. coinsbygary
    It just does not get any better than this!
    What an incredible coin-collecting weekend! NGC and Collector?s Society are the best. I sent three submissions to NGC for grading. They posted on the web site as received on Feb 16. I made one world submission and two US submissions. The world submission posted finalized/shipped Feb 20 and the US submissions posted finalized/shipped today. The turnaround time at NGC is incredible!
    To top that off, I am delighted with the grades my coins received. My world submission consisted of 4 proof coins and 4 MS coins. All the proof coins graded PF-69, two of them being gold coins from Canada! The MS coins returned three 67?s and a 68. Of the eight combined coins on the US submissions, two returned as PF-70 and one returned a grade of MS-70! The two proofs were a 2008-w Van Buren?s Liberty and a 1999-p SBA dollar. The MS-70 was a 2008-s 50-cent Bald Eagle commemorative. I could not wait to enter these coins into my registry and signature sets. Only a fellow coin collector understands that kind of excitement.
    If that was not enough, I received my plaque for the 2008 ?Most Creative Signature Set, Inspirational Ladies? on Saturday. The plaque now proudly hangs in my living room. I still find it hard to believe that I won this award because my peers are the best collectors in the world! This also serves to humble me in that my registry and signature sets were considered for awards, being among some of the finest sets in the world. Winning this award encourages me to keep building and improving my sets. My dilemma now is which five coins from my winning Signature Set to send for photo proofing.
    The only blight in an otherwise perfect weekend is my UHR double eagle order. People have already received and had their coins graded. My order, just 7 minutes after they went on sale is still not here. The last I heard is that it expected to ship Feb 22. I do not know what is wrong with the mint?s website, but the feature that tracks orders is not working. I called the mint and they verified my order, but gave me the pat answer of possibly 6-9 months for them to complete the order. I get this sinking feeling that something is wrong and see my ?early releases? designation in jeopardy. I still have a little time though and now hope for the elusive MS-70 grade. I have a hard time believing in the mint?s policy of first in, first out. The next time I get one of them pop up surveys from the mint, they will get an ear full.
    All told, it does not get much better than this! I am posting a photo of my four world proof coins from my submission. They will make a fine addition to my ?Inspirational Ladies? signature set. Isn?t coin collecting the best hobby there is?

  7. coinsbygary
    Six consecutive First Spouse coins purchased from the mint, six PF-70 Ultra Cameos!
    As a series, the current First Spouse gold coins have a small, but committed following, of which I am one. There are many reasons few people collect these coins; the primary being the cost to assemble a complete set is prohibitive, especially with the current price of gold. In fact, if the price of gold continues to rise, I foresee the Mint discontinuing the series or continuing it with a different base metal. Then for whatever reason, there is just not an enough interest within the hobby to collect these, despite the availability of nearly identical bronze medal versions. Nevertheless, I think the presidential dollar and spouse medal sets, released in special mint packaging are a bit more popular, and at about $9 each, is much easier to collect.
    As a collector of First Spouse coins, I see several advantages in collecting them. Among them are low mintages and a base metal of gold. Because of the gold content, these coins will always have value as a commodity and their rarity should give them value as a coin. Unfortunately, because of low demand many are sold at near melt value. This is one reason why my goal is to collect them in PF-70 condition, in hopes of giving my set a little more ?coin value?. Then there are personal reasons to collect these coins. I feel the contributions of our nation?s First Ladies are worthy of commemoration because of their selfless service to their husbands and our country often done within the shadow of their husband?s presidency. These things, combined with my love for history and the diversity of the designs makes this a compelling and interesting series to me.
    Just about one year ago, I decided to collect all the First Spouse gold coins in proof condition. My intention then was to continue purchasing them for as long as my finances enabled me. My goal was to buy the coins directly from the Mint and submit them for grading, any coins grading PF-69 or lower, I would upgrade at a future date. As many of you know upgrading your coins can be an expensive proposition, and the First Spouse coins are no different. The Mint is currently selling the coins raw for $729, a bit pricey to be sure, but PF-70 coins are often offered as a ?buy it now? on E-Bay for over $1000. At that price, I am not biting, even though I have a lower grade coin to sell to help finance the purchase. A week ago, I thought to browse through a few dealer web sites to see what they were offering. To my amazement, I found a Louisa Adams PF 70 coin available for almost $200 less than the lowest E-Bay listing! Of course, I scarfed that one up, and to finance it, I will sell the 69. If you want information on the dealer, contact me, and I?ll give you the name.
    The cheapest way to build this set is to buy the coins raw and grade as perfect 70?s. In a phenomenal run, the last six coins I purchased from the Mint all graded PFUC-70! Was this good luck or something else? I think it was a combination of both. Coins struck on fresh dies have much finer surfaces than those struck on worn dies. I purchased all these coins on the first day of issue and while there is no way to assure buying coins struck with fresh dies, I think buying them on the first day gives you a better chance.
    Finally, with 13 coins to date, I have Andrew Jackson?s Liberty to upgrade and Abigail Fillmore to purchase next month. Income tax refund money will finance Abigail Fillmore, and I?ll see how the finances line up for next time! Happy Collecting all! Please enjoy this photo collage of my last six purchases.
    Gary

  8. coinsbygary
    Two coins I absolutely had to have at any price.
    What do you do when you have been hunting for a coin for over a year, and it finally comes up for sale on E-Bay? Does that coin become a ?must win? that you are willing to pay almost anything to acquire? This situation presented itself to me twice in the last month and in both cases, I paid whatever it took to acquire the coins. On the surface this may seem like lunacy, but when the coins are rarely available for sale, and fit perfectly into my collecting goals, it makes perfect sense.
    In most cases, I refuse to get into a bidding war with other collectors, but prefer to wait for another opportunity. To prove my point, say I am looking for a 1916-D Mercury Dime in AG-3 condition and it is available for sale on E-Bay. Since these are regularly for sale on E-Bay, I can afford to let the overpriced example go to someone else, knowing that there will be others to bid on soon. However, when I know a coin has not appeared for sale on E-Bay in a year, I am often willing to pay whatever it takes to acquire the coin, knowing it will not likely be for sale again soon.
    The first coin I had to win was a 1993 ?World at War Commemorative? 50 Tala coin memorializing Anne Frank from an island nation I never heard of before called Tokelau. I have been seeking this coin for my ?Inspirational Ladies? signature set for over a year. I missed an opportunity to purchase one for sale in January 2009 because I was overseas in Brazil at the time and not paying attention to my watch list. Now a year later I can hardly believe my eyes when my watch list shows one for sale. Sometimes you can pick coins like this up on the cheap because they are not particularly valuable and few know of their existence. Unfortunately, that was not the case with this coin because the listing was alongside other coins in the ?World at War? commemorative series that another bidder seemed interested in acquiring as a whole. In the end, the other bidder drove the price up for me, but since this coin was a ?must win?, I paid the price. Now with the coin happily in my possession, it is on its way to NGC for certification. When you think about it, the hunt is part of what makes collecting coins so much fun.
    Many of you know that I collect Silver Britannia?s issued by the United Kingdom with a goal of collecting the entire series in MS-69 or greater. These counterparts to the Silver American Eagle are much scarcer, with the mintage held at 100,000 annually. Additionally, Britannia?s graded MS-69 and higher are very rare. Part of the problem with Britannia?s is poor packaging at the Royal Mint that leaves hairlines on the coins? relief. With MS-69 Silver American Eagles in plentiful supply assembling a collection of 69?s is not terribly difficult to do. However, the NGC population report lists ?five? 1998 Britannia?s at MS-69 and PCGS lists ?seven?. With such low population numbers, I tried submitting raw Britannia?s for certification with varying results. While I did have a few coins return with MS-69?s, most of my submissions were meager at best. Therefore, I decided to give up on this option because of the high cost of submissions. With few options remaining, I decided to wait it out for examples to appear for sale on E-Bay. Six of the twelve of Britannia?s in my collection are MS-69, with four MS-68?s, and two MS-67?s. Overall, this collection is nice, but still falls short of my goal. Last week I won one of the PCGS 1998 MS-69 examples, replacing one of my MS-67?s, and I could not be more satisfied. Any certified Britannia for sale on E-Bay is scarce let alone one certified MS-69, so this coin easily became a ?must have?. Bidding for this coin remained low until the end when another bidder pushed up the final price, but when it comes to meeting one of my clearly defined collecting goals; it?s a no-brainer.
    While most price guides list the value of these coins significantly lower than what I paid, the real value is much closer to what the market is willing to pay to acquire these coins. That someone else is willing to drive up the price shows me that the value of the coins I purchased is pretty much what I paid. As always, Happy Collecting!
    Gary

  9. coinsbygary

    What Gives?

    By coinsbygary,

    I don't understand how the US mint operates or in this case doesn't
    What gives with the US Mint? My UHR double eagle order status was listed as "in process" and the coin listed as "in stock and reserved" with an expected ship date of 2/6/09. Today 2/6/09, I get an e-mail from the mint stating my order is "back ordered" with an expected ship date of 2/21/09. Which is it? I thought in stock and reserved meant they have my coin and need to ship it and back ordered means they do not have my coin , but expect to have it a future date. What is so hard about knowing whether you have an item in stock or not? Why is there a difference between the emails and my order listing taken from the mint's web page? Where's the rocket science in this? How could the mint be so unprepared for this, knowing how popular this program was going to be? If someone can tell me, I sure would like to know. At any rate, I do have something to look forward to, I have a submission with NGC scheduled for grading and another I am sending soon. Perhaps I will have these coins graded and back to me before I see my UHR double eagle!
  10. coinsbygary
    Last month I received a notice that the bank I stored my coins at was closing and I had until February 4th to vacate my safe deposit boxes. Fortunately, I was able to rent another box close by and for cheaper than the boxes I had. Having secured a new and bigger box, the next step was to transport the coins to the new location.
    I was very uncomfortable transporting my coins from one location to the other and in particular standing at the teller window with my coins in a shoebox waiting to close out the old safe deposit boxes. You see, my bank had the misfortune of being held up last year and I did not want something like that to happen with thousands of dollars' worth of coins in my hand. Fortunately, both the clearing of the old boxes and the transfer to the new box went off without a hitch.
    That said, moving my collection did present a wonderful opportunity to reimage many of my coins. This meant that coins which haven't seen the light of day in years could now be easily reimaged to reflect the refining of my photography skills.
    Now, instead of driving from one bank to the next I made a detour home for pictures. To tell the truth, it sure felt good to hold these coins in my hands again after not looking at some of them for years. Now I like the security of a safe deposit box but if I want to easily view my coins, I will need to buy a home safe.
    After reimaging and editing my coins I thought to organize all my pictures into power-point presentations mirroring my NGC registry sets. For instance, I started with my 1834-1933 gold type set minus the 1907 high-relief St. Gaudens double-eagle. All the coins in the presentation are organized according to the definition and order of my NGC registry set. Thus, when I decide to sell my set and pull it down from the registry, I will always have my former coins to look at assembled as a set. To tell the truth, this is all I  had with the online registry since all my gold coins are off-site and not all that easily accessed. So, if I have the pictures why do I need a home safe? All these are important questions we need to answer for ourselves as we assess what level of risk we are willing to live with.
    Oftentimes, when I get to thinking one thing leads to another and I began to think about eventually dissolving my entire collection before I pass away so as not to leave my wife and kids with that responsibility. Don't worry, reports of my demise are greatly exaggerated.
    What got me thinking this way is that my wife and kids have no interest in collecting coins. Thus, I think it is unfair to leave the liquidation of my collection to them when I am much more knowledgeable in the buying and selling of coins. Another point to consider is that who is more likely to get the most for the coins? I can't rationalize around that one, it's me.
    None of this is going to happen anytime soon as I am still actively collecting but at a much slower rate. Still, it is good and necessary to have a plan in place to make this happen before I am bedridden or worse. For my wife and kids, I'll offer them any coin from my collection they want for sentimental reasons. The other coins will be offered to certain collectors who might be eying my coins for their own collections. Otherwise, the low-cost coins will be handled through e-bay and the rest to a major auction house.
    In the meantime, I'll eventually have all my coins organized into power-point and word documents to enjoy for the rest of my life! Please enjoy this slide reimaged and made for my personal presentation! Gary.   

  11. coinsbygary
    Crossing over five PCGS world coins over to NGC confirms one of my long held suspicions, but does not effectively answer the question, does NGC under grade its world coins or does PCGS over grade theirs? The world may never know, however this I do know with certainty, NGC is more conservative in grading world coins than PCGS is.
    Most of you will recall that earlier in the year NGC changed their policy of allowing PCGS coins into their world registry to an exclusively NGC registry. I remember being especially annoyed that my complete set of Netherlands Wilhelmina 10 Gulden gold coins was no longer complete in the eyes of NGC. I originally took a defiant position by refusing to cross my PCGS coins over to NGC. I even launched my own web site for the express purpose of writing my own rules.
    My long-standing goal for this set is MS-65 and higher for the entire set and unfortunately, upgrades of this quality are few and far in between. Upgrades can also be expensive, combining the increased purchase price of the new coins with the seller fees of the old coins. Regardless, I had always been willing to bear the brunt of the cost to own not only the top set competitively, but also the best set possible.
    For a long time I have been suspicious that NGC is more conservative in their grading of Wilhelmina coins than PCGS as evidenced by the top-heavy PCGS population report. However comparing NGC and PCGS population reports may be like comparing apples and oranges because PCGS has graded a lot more of these coins than NGC, thus potentially skewing a comparison.
    Until now, the only way to prove whether NGC is more conservative was to cross my PCGS coins over to NGC. As of recently, Ive had the following PCGS Wilhelminas in my set, a MS-63 1898, MS-65 1911, and MS-67 1917. With the scarcity and cost of upgrades and a goal of MS-65 or higher, I thought I had a chance to cross the 1911 and 1917 coins to MS-65 and avoid purchasing new coins. With that, I sent those two coins, the 1898 Wilhelmina, a MS-69 1998 Britannia, and a red MS-65 1898 French 10 Centime coin for cross over to NGC with this years five free submission coupon.
    I knew the 1917 would grade lower based on NGCs population report of only two MS-67s in the entire series, but the wildcard was the 1911, would it hold at MS-65? I was taking a big chance that it would grade MS-64 instead. However, I honestly felt that the grade of MS-65 was fair and would hold making this coin one of four top-pops in the NGC population report. Interestingly the 1911 is the most heavily toned gold coin I own. Did the toning have an equalizing effect on both PCGS and NGC graders? In the end, I think it did because out of the five coins, this coin was the only coin to hold its grade at MS-65. All the other coins came in one grade lower (the 1917 at MS-66), confirming my suspicion of more conservative grading on world coins only, but not really answering the question I posed in the first paragraph of this post.
    Currently, my 11-coin set has four MS-66, four MS-65, two MS-64, and one MS-62 coins. Of those coins the 1932, 1927, 1912, and the newly graded 1911 are top pops. Based on this, it appears that my goals are coming together rather nicely. Additionally, I have a line on a MS-64 1898 that I hope pans out to make the rest of the set one grade lower than the top pop coins. Now my set is both complete and consistent in the eyes NGC. The term white tux referring to NGCs holder is a borrowed term from another Collectors Society member. Until next time, Happy collecting!
    Gary

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  12. coinsbygary
    My latest acquisition that takes my collection off in yet another direction.
    Most of you that know me and keep up with my journals know my love for signature sets, especially my ?Inspirational Ladies? set. At times, it must seem that I am a ?one? dimensional collector, yet the truth is my collecting interests are wide and varied.
    The main reason I love collecting are all the interesting and beautiful designs found on coinage. This is the primary reason for my love of type -collecting, to have a sample of all the major US designs, denominations and mints.
    With a love of coinage designs, I am naturally attracted to commemorative coins. If I can match a good commemorated event or person with a good design, I will usually buy the coin. This even if I do not have a slot for it in either my competitive sets or my signature sets.
    This is the case with my latest acquisition. I love anything to do with aviation and flying so I recently acquired a French 10 Euro coin that commemorates the 40th anniversary of the Concorde. This coin that has yet to find a place in my collection, I bought for the simple reason that I love the design.
    Now all the coins in my collection must fit into my collecting goals. With this in mind, I may be starting a signature set that has as its theme aviation and flying.
    So many interests, so many coins, this is why this hobby never gets boring. Happy collecting to all of you and enjoy this picture of my latest purchase.
    Gary

  13. coinsbygary
    The Full Library of Garys Coin of the Month Journals represents much of what I enjoy about numismatics and coin collecting. Together with collecting coins, I also enjoy history, writing, and photography. All of these aspects combine into what has become Garys Coin of the Month.
    More than merely collecting coins into sets, I want to know the who, what, where, when, and whys of the particular coins that I collect. Concisely, I have a desire to know who designed or commissioned the minting of my coin. I want to know what my coin represents, or what message the coin is conveying other than that of a medium of exchange. The where of my coin centers on the nation issuing the coin and its peoples. The when of my coin brings into focus the coins historical context, and the why my desire to know for what purpose the coin was minted.
    These curiosities coupled with my love of writing and a desire to present my coins in a way that is aesthetically pleasing to myself, and others led to Garys Coin of the Month. The goals of Garys Coin of the Month are simple. First, I research the coin in hopes of discovering the five Ws associated with that coin as listed in the previous paragraph. Subsequently, I re-tell the coins story in my own words. Finally, I take high-quality photographs of my coins and edit those into collages using Photoshop Elements to create artistic images.
    One of the things I enjoy about writing is the opportunity to editorialize what I think are the main themes of a coin into its proper context. Additionally, I try to keep things simple and interesting in the hope that my readers will take away something of significance from reading my articles. Furthermore, I enjoy the feedback I receive from my readers both good and bad. That feedback consistently encourages me to improve upon my writing skills.
    The coins I have featured come from all over the world representing five continents, with a few of them hailing from island nations and colonies. Generally speaking, the coins I highlight fit into one of my custom or registry sets. Oftentimes the Coin of the Month post will be incorporated into the coins Owners Comments portion of the set that it is contained. Additionally, my Coin of the Month articles have featured proof, mint-state, and circulated coins in all types of metallic compositions.
    Please enjoy perusing my set, and in particular view all the pictures of my coins using the slide show feature. A few of my articles have been condensed to fit into the Owner Comments. The following is a link to The Full Library of Garys Coin of the Month Journals. I know I have referred to this set in a previous post, but now the set description employs this post above and JAA USA/Philippines Collection tips for sprucing up Custom sets.
    http://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=11573
    Happy Collecting and all the best for the upcoming awards!
    Gary
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  14. coinsbygary
    For the most part, I am not an error coin collector except that I think coins displaying clashed dies are rather cool.
    In numismatic circles, I understand that there is discussion as to whether a clashed die is an error coin or not. My opinion lies somewhere in between and I think that the error occurred to the dies when they clashed together without a planchet. Subsequently, every coin thereafter correctly struck with that die pair carries the image of that one error.
    A clashed die occurs when the hammer die, usually the obverse die, clashes against the anvil die, usually the reverse die. The striking force of the dies clashing together leaves portions of the opposing dies image on the face of each die. This then transfers to every subsequent coin thereafter using that die pair.
    Since I have purchased a macro photography rig much like the one THE BRG COLLECTION uses to image his coins, I have methodically gone through my collection to re-image my coins. I still have a ways to go, but I have made significant progress. I have been particularly anxious to re-image the smallest of my coins, in other words my Type 1-3 gold dollars. The Type 1 gold dollar at 13mm and the Type 2 & 3 at 15mm stood to benefit the most from macro photography.
    The things I saw in my coins using macro photography that I had missed before have fascinated me. That is particularly true about my NGC MS-62 1857 Type 3 gold dollar. While I knew that it was a clashed die coin because of the outline of the obverse bust on the reverse, I had not noticed the transference of the letters ERTY from Lady Libertys headdress to the reverse. When I saw it, I thought to myself, How cool; now why had I not seen this before?
    Describing how this happened gets very interesting because the coins are an exact mirror of the dies. If the coin has incuse details, the die has those details in relief. Where the coin has details in relief, the die has those in incuse. Interestingly, the word LIBERTY in the headdress of my gold dollar is incuse on the coin. Therefore, the obverse die, which is in relief, struck the open field of the reverse die leaving an incuse impression. This then transferred to my coin in relief. Did you get that? I had to read this sentence several times to make sure I got it right.
    What is particularly neat is that this die clash flattened the ERTY relief of the obverse die except where portions of the R were protected by the incuse 7 of the reverse die. Wow! Can you tell I get excited about this stuff? Only a coin geek like me and perhaps some of you will find this fascinating. I am posting two pictures on the chat boards, the one will show the outline of the bust on the reverse and the other the fine details of what I have been describing. Remember when viewing the detailed photo that this coin is only 15mm in diameter. Its amazing what you can see using macro photography.
    Gary
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  15. coinsbygary
    Simply put, I love coin collecting and I use the registry to catalog, organize, and display my collection.
    I have enjoyed the healthy debate these past few days concerning the registry and the reasons' people participate in it. Many good and valid points have been made, but in the end, what matters is that you are happy with why you participate. For me this debate has caused me to re-evaluate my position and that is a good thing because it keeps me focused and on track.
    It is said that you cannot control what others do, what you can control though is how you respond. For instance, I wish I had a larger budget with which to buy my dream coins. That said, I will most likely never own a 1907 high relief wire rim Double Eagle, unless someone gives it to me like the one ?COLLECT-A-BILLS? received for filling out a survey. Now I can choose to whine and moan about ?COLLECT-A-BILLS? luck, or I can share with him in his excitement of acquiring a dream coin. The choice is a no-brainer, as I rather share in his excitement! When it comes to high-grade number one registry sets, I am just glad that someone has the means to assemble, and display for everyone to enjoy, sets I could never dream of owning. I spend hours perusing other sets in the registry, and enjoy every second of it. In fact, perusing other sets stimulates me to dream of the coins I hope to own and without dreaming, my collection would not be what it is today. As for the 1907 Double Eagle, I have been dreaming of this coin ever since I was a young boy and who knows maybe one day I may realize my dream. Until that time, I am quite content with my MS-69, 2009 Ultra High Relief Double Eagle.
    In the registry, I have three sets that are top ranked, and each is number one for a different reason. One of my sets (Austria 100 Corona, 1892-1916, Circulation Issue) is number one only because no one else is competing. Not intending for it to be the highest-ranking set, it serves as a placeholder for another of my sets. In fact, most of my competitive sets serve as placeholders for other sets (this is where the cataloging and organizing come in). Another set (Netherlands 10 Gulden, Wilhelmina I, 1897-1933, Circulation Issue) started as an obsessive competition. However, this set has evolved into something much more. For instance, I may never have the means to assemble the best Morgan Dollars in the world into a complete collection, but I have the means and desire to collect the best Wilhelmina 10 Gulden coins. Regardless of what you think about number one registry sets, collecting the best coins possible into complete sets is good for the hobby and preserves a numismatic heritage for future generations. The third set, (First Spouse Gold $10, Proofs) in becoming number one, took me the longest time to acquire and cost the most money. In the process of becoming number 1, I devised clever buying strategies to acquire PF-70 coins as cost efficiently as possible all the while enjoying the journey. In the end though, after all that time, effort, and money I found arriving at number one to be a bit of a disappointment, especially when compared to the Wilhelmina set. In other words, I gain a greater sense of accomplishment with the best coins I can afford in registry sets that become a legacy or heirlooms rather than ?just? another number one registry set.
    NGC allows for other types of competition that are more subjective than a certificate based upon whoever has the most points. In many respects, this part of the competition is much more inclusive. Case in point, I won one of five 2009 ?Best Presented Set Awards? for my 20th Century Type set. This set, populated with average MS coins was ranked 15th when I won the award and includes a MS-64 1950-D Jefferson Nickel that garners 1 registry point! To win the award, I had to impress the judges with more than simply nice coins. I had to have good photos and owner descriptions also. This award means the most to me because not only did it require the greatest amount of time and effort, but more importantly, it is a reflection of what I enjoy most about coin collecting. For those who want to do their own thing, there are custom sets that allow you to define the set. In 2008, I won the ?Most Creative Signature Set Award? for my ?Inspirational Ladies? custom set with a mix of United States and foreign coins. For me, these two aforementioned awards are much more satisfying than the certificates for of the reasons I gave, and because they come with a plaque and a certificate for five free photogrades. Furthermore, I much rather hang a plaque on my wall than a certificate even though I currently hang both!
    Keep dreaming and you will be surprised at the coins you will have a few years down the road.
    Gary

  16. coinsbygary

    With Friends Like These

    By coinsbygary,


    Canadian Peace Dollars
    ...Who needs enemies, or so the saying goes. Recently, a fellow coin club friend who collects modern coins notified several club members and me of a new Canadian-minted coin that I was unfamiliar with. The UHR-proof coin he referred to is the stunningly beautiful 2023 Canadian Peace Dollar. This coin has selected rose-gold gilt surfaces with an obverse luster that pulsates as the coin is tilted in the light. Having already spent what I budgeted for coin purchases this year, I just had to grit my teeth and pony up for this coin. It was just too beautiful to pass up.
    In jest, I told my friend at the last club meeting that it was all his fault for making me purchase this coin. His answer? “I love spending other collectors’ money!” Now, he may have spent my money, but I get to keep the coin! When I finally viewed the coin in my hand, I was glad that I had bought it. Truth be told, “With friends like these, I am truly blessed and thankful.” It is nice to know other collectors have my back. To show my gratefulness, I hope to reciprocate their kindness back to them.
    The Royal Canadian Mint has been issuing .999 fine 1-ounce silver peace dollars yearly since 2020. A 2019 medal features the “Peace” Canadian obverse designed by Susan Taylor and a “Libertas” US reverse designed by John Mercanti. Each year the Canadian Peace Dollar has featured the same design with a different surface finish.
    There are several similarities between the US Peace Dollar and the Canadian Peace Dollar. Since the mint documentation that came with my coin describes this coin better than I could, the following paragraphs are directly copied from that documentation.
    In 2019 the Royal Canadian Mint made history when it brought together former engravers from both the US Mint and Royal Canadian Mint to create the Peace & Liberty Medal. The “Peace” side of this medal, which was crafted by retired Royal Canadian Mint Senior Engraver Susan Taylor, was then selected as the face of a new, legal tender Canadian Peace Dollar.
    Like De Francisci, Taylor used family to help create her rendition of Liberty. In Taylor’s case, her daughters Erin and Sarah modeled for the design. Erin wore up-swept hair adorned with flowers for her wedding, which served as the inspiration for the maple leaves in Peace’s hair. Taylor combined both daughter’s facial features to create Peace’s profile.
    Taylor had more to say on the inspiration for her Peace design: “Initially the [Ottawa National War Memorial] Cenotaph was the primary direction, and then the US Peace Dollar design was introduced as a reference. This reference to the US Peace dollar was very helpful, since it evoked a clear and elegant message of not only peace but also of harmony and grace. This is what I tried to portray in this Peace design. In these troubled times, we need to strive for harmony in our relationships with each other and to respond with grace and compassion.”
    Like the 1921 US Peace Dollar, the Canadian Peace Dollar series comes struck in high relief—Ultra High Relief, to be exact—and has featured a variety of finishing effects over the years.
    The following information I gleaned from the COA.
    This coin has the serial number 2178 and a total mintage of 6,000. The Latin motto over Peace (Pax) reads “From sea to sea.” This coin is struck in ultra-high relief. It is 36.15mm in diameter and weighs 31.39 grams. The obverse (the effigy of Queen Elizabeth II on coins has always been considered the obverse) features the effigy of Her Majesty Queen Elizabeth II engraved by Susanna Blunt.
    In closing, I have much to be thankful for, like my coin club friend, who referred me to the 2023 Canadian Peace Dollar. In fact, I am grateful to God for so much more that I can’t name everything. Finally, I wish everyone who blogs here and the ANA staff a Happy Thanksgiving. Gary.

  17. coinsbygary
    Besides world coins, tokens, and medals based on a particular theme, my primary area of numismatic interest is in United States coins. This past year though I have delved into an area of numismatics that until now was unfamiliar to me. Rather than starting another theme based set, I started a set based on the work of a particular sculptor. I started a collection of coins and medals featuring the artwork of Laura Gardin Fraser.
    While I was somewhat familiar with the coins attributed to Laura Gardin Fraser, the same cannot be said concerning the many medals she designed. Familiarizing myself with her medals became quite a task because she was much more prolific in designing medals than she was with coins.
    The first thing I wanted to know is what to collect. All her coins are very well known and readily available. However, I had no clue as to the number and availability of the medals Laura Gardin Fraser designed. Later, I was to discover that she may have designed and sculpted up to one hundred medals.
    A search of the internet produced a medallic art databank created by Medallic Art Company corporate historian, D. Wayne Johnson. Laura Gardin Fraser's databank page was the most important internet resource in helping me to identify her medals. This page had practically everything, a comprehensive list of items by date with pictures, auction appearances, and a bibliography which I found invaluable to my research.
    I also found the ANA archives of The Numismatist and the Newman Numismatic Portal very useful. The archives of The Numismatist contains numerous articles on Laura Gardin Fraser's work. I even found a couple of the ad pages to be helpful. The Newman Numismatic Portal contains all the medallic art auction catalogs of the Presidential Coin & Antique Company. These catalogs were especially useful because of the lot descriptions and estimated valuations. The valuations helped me to determine what I could expect to pay for the medals in my collection.
    Along with purchasing new pieces for my collection came new books for my library. These included End of the Trail by Dean Krakel, The US Mint and Coinage by Don Taxay, and Numismatic Art in America by Cornelius Vermeule. Other references included The American Women Medalist, a Critical Survey by Elaine J. Leotti and a January 1970 Coinage Magazine article entitled, Ordeal of Laura Gardin Fraser by Don Taxay. In fact, I think Don Taxay's article in Coinage Magazine is the most credible narrative I have read on the contest for the Washington Quarter.
    Next, the purchasing avenues for medals is somewhat different from that of coins. However, other places such as E-Bay are pretty much the same. For me, E-Bay was a familiar place in which to begin my collection. It was also a good source of Laura Gardin Fraser's most readily available medals. That said, it didn't take to long for the E-Bay well to dry up. Subsequently, the annual Presidential Coin and Antique auction quickly emerged as a top purchasing outlet for all those difficult to locate medals.
    In the last Presidential Coin and Antiques auction I passed on a scarce silver Washington medal and ended up winning a silver plated Morgan Horse medal at a price that was towards the bottom of the estimated valuation. What really surprised me about winning this auction is that even before I found out that I had won the auction, or even paid a single red cent, the piece showed up on my doorstep! I've never had this happen before especially since this was my first auction with Presidential. All this brings me to the most important and necessary element of my transition into the world of medals, the human element!
    While looking for information pertaining to the 1947 MacArthur peso and 50-centavo piece in The Numismatist, I ran across a letter to the editor written by a collector of anything Fraser. This person also included their e-mail address in the body of the letter. With a little encouragement from another of my friends I sent a cold contact e-mail inquiry to the writer of that letter. To my amazement I got much more in his reply than what I had asked for or even hoped for.
    What I have now is a new friend who is very eager to help me in my quest. One of the resources that I have not had the opportunity to examine is the Fraser family papers. However, my new friend had. As a result I found out the specific contents of a nine-point letter Laura Gardin Fraser had sent to the Philippine embassy chronicling her difficulties with the Philippines peso and 50-centavo coins.
    Later we had an hour long conversation over the phone about Laura Gardin Fraser and he freely answered a number of my questions. He also e-mailed me some of his own writings on the topic and sent a spreadsheet he had compiled of many of Mrs. Fraser's works. As an extra bonus the spreadsheet contained the latest final hammers for each piece. This was very helpful as a tool to help me gage how much I would have to spend in order to continue this collection.
    My new friend also watched for buying opportunities on E-Bay and more than once notified me of a piece that his search uncovered and mine missed. My latest two purchases are a direct sale from a friend of my new friend. I purchased the 1912/13 National Institute of Social Sciences medal and the rare 1932 John Endecott Massachusetts Tercentenary medal from this person after a very pleasant half-hour phone conversation and a confirming e-mail. I immediately mailed him a check for the medals and he mailed the medals to me on the next business day. As it turned out, the day my check cleared his bank was the day the medals showed up at my house.
    This is the way I love to do business and I am impressed with the honesty and integrity of the people I come in contact with in this hobby. It really doesn't get much better than this. And to all those who have helped me in my numismatic journey a hearty, thank you!
    Gary

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  18. coinsbygary
    It?s hard to describe the fun I am having assembling my latest registry set based on New Orleans Morgan Dollars called, ?Born on the Bayou?.
    Greetings all, a little more than a month ago I started a new registry set based on New Orleans minted Morgan Dollars. Little did I know at the time that what started as a whim has turned into a source of great enjoyment. Since then, I have learned much about coin collecting in general and the Morgan Dollar in particular. While I cannot adequately describe everything that has happened in the last month with one journal post, I can give a general overview in this post and elaborate more on the details in later journals.
    It is always wise before beginning any endeavor to count the costs. The concept for this set started with determining whether it was financially feasible to complete. Once I determined that it was indeed doable; I set a budget of no more than $200/coin. As with any set, there are always a few budget-busting coins. While most of the dollars in my set can be acquired in choice or gem BU condition for less than $200, some coins are only obtainable in lower circulated grades. For instance, the 1895-O dollar has a Fair Market Value of $16,250 in MS-60. Moreover, the value of this coin only becomes less than $1000 starting in grades XF and lower. Even a Good 4 or 8-graded coin is valued at $219! In the instance of this coin, along with the 1893 and 1903 coins, I determined the minimum grade I will accept is VG 10 or higher, realizing that each of these coins would cost me over $200.
    My strategy for completing any set is to try to obtain the key dates first. The 1903-O dollar in VG condition has a FMV of $288 and $513 in MS-64. Since the difference in the value between the two is just $225, I bought a gorgeous MS-64 example on sale from David Lawrence Rare Coins over Labor Day weekend for less than FMV. Perusing Teletrade and E-Bay listings for 1893-O and 95-O dollars seemed fruitless, and when they were available, they tended to be overpriced. Then last week I located both coins on E-Bay from a single seller. The 1893-O dollar certified at PCGS F-15 had one bid and the 1895-O at PCGS VG-10 had none. I placed both my bids through a snip program at FMV and won the 1893-O at less than FMV. The 1895-O ended without clearing the seller?s reserve, but since my bid was the only bid, I was hoping for a second chance offer. Shortly after the listing ended, I got my offer and immediately seized upon it. Now I have all three key coins at very good prices.
    Desiring to learn all I can about Morgan Dollars I bought a book by Q. David Bowers entitled, ?A Guide Book of Morgan Silver Dollars?. Contained in the book is a complete history and price guide pertaining to the Morgan Dollar. As I was reading this book, I discovered a fascinating story on the 1903-O Morgan Dollar that I will elaborate on in a future post. Along with the stories is an abundance of other useful information that I will use to write owner descriptions for each of my coins.
    Where possible, I thought it would be nice to collect rainbow-toned coins. Even though there is a premium attached to these coins, I find that most fit within my budget. The conditions necessary to tone coins ?naturally? and the science behind it is fascinating. Additionally, the selection of these coins corresponds to my taste, making it much more fun to pick and choose.
    The coin pictured below was listed on E-Bay as a ?buy it now? for more money than my budget allowed. However, the seller was also accepting best offers and I made him an offer at cost plus postage of slightly less than $200. To my amazement, the seller accepted my offer, allowing me to purchase the coin while sticking to my budget.
    As far as budgets go, I am learning that if I am patient and stick to my budget, I will get the coins I want at cheaper prices. The hard part is being willing to walk away from a coin I like simply because it is off budget, as was the coin pictured in my post. When it comes to coins, self-discipline is tough, but I am learning that good things come to those who wait and surprisingly my set stands today at 50% complete! Happy collecting all!
    Gary

  19. coinsbygary

    Worth the Wait

    By coinsbygary,

    My most recent acquisition is worth the wait. Especially sweet is that I could of bought a nice example of this same coin at any time during the last eight or nine months.
    I have an interest in collecting the entire series of 1870 Spanish Provisional Government coins. The copper coins come in denominations of 1, 2, 5, and 10 Centimos. The silver coins come in denominations of 50 Centimos, 1, 2, and 5 Pesetas. There is also a gold 100 pesetas that is very rare. Needless to say I probably wont be adding that coin to my collection.
     
     
     
     
     
    I have been spying out a nice MS-64 BN example of the 1 Centimo on E-Bay for quite some time. Interestingly, the seller advertised this coin as a former Heritage coin, so I looked it up. What I discovered was that the starting bid for the coin was twice the cost of the coin on Heritage. With that I placed the coin on my watch list and waited for the seller to lower the starting bid.
     
     
     
     
     
    The seller of the MS-64 coin kept re-listing the coin at the same starting bid for eight or nine months. Finally, last Sunday evening another seller listed a MS-65 RB example of the the 1 Centimo as a true auction and I set up a snip at 1 dollar higher than the MS-64 coin. When the hammer went down Sunday evening, I was delighted to own a nicer coin at $25 less than the starting bid of the MS-64 example.
     
     
     
     
     
    As a series these coins are very difficult to find in MS condition. However, they are much easier to find in lower circulated grades. Of many millions minted, NGC only grades 27 mint-state coins in BN, RB,and RD and there are only two MS-66 RD coins that are higher graded than mine.
     
     
     
     
     
    For the series I currently own this coin, the 10 Centimo in MS-64 BN, the 2 Peseta in AU-53, and the 5 Peseta in XF-40. Incidentally, I am watching a AU-55 example of the 5 Peseta on eBay in which the seller wants more than $700.00. Needless to say I will keep my XF-40 piece, thank-you very much!
     
     
     
     
     
    Gary

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  20. coinsbygary

    Worth the Wait

    By coinsbygary,

    Two and one half months after I made a commitment to buy an 1802 NGC XF-40 Large Cent, my wait has finally ended!
    Though I waited about two and a half months from the commitment to buy until delivery, this story really began at the ANA show in August. This is when I purchased a 1901 MS-63 gold eagle. You see, it was then that I asked the person I bought the eagle from to look out for a nice VF-XF Draped Bust Large Cent to complete my 7070 type set. Thereafter, I personally decided to put an end to my search and wait until I got word on a prospective coin.
    When you think about, you have to be able to trust your want list to a person or dealer who has a good eye for quality coins. The 1901 gold eagle and some other coins my friend had on hand for other clients convinced me of his knack to find coins with nice eye appeal. Add to this the nice deal I got on the 1901 eagle and I have no problem trusting this person to select quality coins for me sight unseen.
    Another plus about this deal is that I don't normally buy early coppers and as such I am not familiar with the market for them. Having someone in your corner who knows something of that market and is someone you can trust is a real comfort.
    As time went by, I kind of forgot about the coin. That was until I got a call from my friend at the Whitman Show in Baltimore about an 1802 NGC XF-40 Mervis Collection pedigreed coin. Part of this coin's appeal is that at one time it was part a complete set of large cents according to Sheldon variety. In 2013, the Mervis Collection of Large Cents won the NGC award for best classic set.
    Another appealing feature of this coin is a long die crack on the coin's obverse. That crack starts at 12:00 and cuts through the top quarter of the coin before ending at about 3:00. The surfaces are all evenly colored and original. Except for weakness in the reverse legend, the coin has a small planchet flaw in the D of UNITED and what appears to be a clash or crack running from the top left of the wreath through the A & T in STATES. Another crack from the wreath through the E in UNITED rounds out the reverse features of this coin.
    After viewing a few photographs of the coin, I decided to go ahead and purchase the coin. However, there were a few flies in the ointment so to say. When I got the call, I had already made a big coin purchase only a little more than a week earlier. Add to that the coming of Christmas and my kids needing a little help, I was in a pickle to buy another pricey coin. Fortunately, this did not turn into a show stopper as we worked out an agreement whereby I could pay for the coin in three monthly installments.
    Now with my set complete, I only need to make some choice upgrades to achieve the level of quality I desire for this set at the amount of money I can afford. This is where another set of eyes really comes in quite handy!
    For now I hope you enjoy my images that for an early copper are quite impressive. Believe me, I have combed through dozens if not hundreds of listings only to discover that there are relatively few coins of the quality I now have!
    Gary

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