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coinsbygary

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  1. coinsbygary
    Garys March Coin of the Month (Volume 3 Number 7) features a copper NGC AU-58 1790s 1/2 penny Conder Token (D and H-36D).
    During the late 18th Century, the widespread use of merchant tokens in the United Kingdom filled a void left by the government's failure to mint enough coins for commerce. These tokens provided an effective means for merchants to advertise their wares or in the case of this token, propagate a political cause.
     
    Now lets say that you owed a debt you could not pay. The worst thing that could happen to you is that you will lose your home. Furthermore, you may even have to file for bankruptcy. However, if you lived in the late 18th Century you could be looking at a prison sentence until your debt was paid in full.
    Consequently, since incarceration in debtors prison directly affected your ability to earn money, you may well be serving a long sentence. Because 18th Century prisons were privately run, you also had to pay a prison fee. So with the prison fees added to your original debt, your debt only compounded. Because of the capriciousness and injustice of this system, English philanthropist John Howard advocated for prison reform.
    Another of those 18th Century philanthropists was a print shop owner by the name of William Gye from the City of Bath in southwest England. In 1794, William Gye issued a token bringing attention to the poor conditions of the imprisoned debtors he visited weekly at Ilchester Gaol (gaol is British for prison). From his print shop in Bath, William Gye took donations to aid the debtors in prison and distributed his tokens as change.
    As the movement for prison reform began to catch fire, other merchants issued tokens using similar reverse devices to those of William Gyes original token. In all, there are some thirteen varieties of this Conder Token. My token without a date or identified merchant has as its edge inscription, Payable at London or Dublin. Given the distance between London and Dublin my token shows the extent and popularity of the prison reform movement in the United Kingdom.
    The reverse of my token based on Gyes original design has as its central device a seated woman representing benevolence. Surrounding Benevolence is a number of jars representing plenty. Benevolence with her right arm stretched out towards the prison is directing a young boy with a key to open the prison door. In her left hand, she is holding an olive branch representing peace or specifically in this case, a paid debt. Underneath the prison window is a basket for express purpose of receiving donations from passer-bys. Overhead in rays of glory as if from God is the command to Go Forth. The legend inside a beaded circle and delimited by a small ornament reads, Remember the Debtors in Goal. As an aside, it interesting to note that the word gaol is misspelled goal on the token.
    On the obverse of this token is a bust of prison reformer, John Howard F.R.S (Fellow of the Royal Society). The Royal Society of London for Improving Natural Knowledge is a learned society for science of which John Howard was elected in 1756. Each member of the Royal Society has the right to use the initials F.R.S. after their name.
    Born in 1726 John Howard grew up in a family of considerable wealth. Later he apprenticed as a wholesale grocer only to find himself deeply dissatisfied. As a young man devout in his faith and probably in search of his calling, John went on a grand tour of the European continent in 1748.
    Then after the 1755 Lisbon Earthquake, John Howard departed on a ship destined for Portugal only to be imprisoned when French privateers captured his ship. Subsequently, John returned to the United Kingdom in a prisoner exchange with France. Thus, it is likely that John Howard's experience as a prisoner had a profound impact on his life's work as a prison reformer.
    Appointed as the High Sheriff of Bedfordshire in 1773, John Howard found himself in a unique position to examine the conditions of the prisons under his charge and effect changes. Over time, John Howard visited hundreds of prisons across the United Kingdom and Europe, publishing his findings in a 1777 report entitled, The State of Prisons. On a number of occasions, the House of Commons called on John Howard to testify before a select committee. John continued his work as a reformer visiting prisons around the world and publishing his findings. He died in the Ukraine in 1790.
    Upon news of his death, a large number of merchants chose to commemorate John Howard by featuring his bust on their tokens. These tokens heightened the publics awareness of the conditions in their prisons and in particular debtors prisons. Subsequently, the passage of the Debtors Act of 1869 and the Bankruptcy Act of 1883 ended the practice of imprisoning debtors altogether in the United Kingdom.
    Gary

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  2. coinsbygary
    As of December 28th 2018, I am officially retired and am eager to move on into another chapter of my life. Retirement came a little sooner than I expected but when my employer offered me a generous buy out, I realized that I had to take it now or never see that opportunity again. Realistically, at 60 years old I had no more than 4 years left anyway and probably a little less.

    Now retired, I find myself having to live on a lot less money than I had before. To make things easier on my family I used the buy out money to pay off the main mortgage on our house. This in and of itself will make living much easier. Furthermore, all the other outstanding consumer credit I had is paid off. After all these years of not budgeting because I earned more than I needed to live on I finally sat down and made a budget on a spreadsheet. Remarkably, I found that retirement life for at least this year should not prove to be too difficult. That will change however in 2020 when we will have to buy healthcare.

    That said, I have very little wiggle room left in my budget to buy coins. So, the question I ask myself is how do coins and collecting fit into retirement? Fortunately, I am discovering that the hobby is bigger than just buying coins.

    Fortuitously, I saw this life change coming years ago and I worked furiously to complete as many of my type sets as possible before retirement. With gold hanging around at $1200-$1300 an ounce, most of my recent purchases have been of classic gold type coins. Now my 1834-1933 gold type set is complete with the exception of the 1907 high-relief St. Gaudens Double-Eagle. At the price I can expect to pay for that bad girl I’m going to have to leave it as an open slot.

    Having completed my Dansco 7070 type set (19th through 21st century type) I identified certain coins in my set for upgrading to more eye-appealing coins. I started this upgrade project about 2-3 years ago but have not been able to finish this part of my collection. To complete it I plan on selling the doubles in my collection to buy new coins. My goal has been to have the most eye-appealing coins in this set that I can afford. Thus, instead of using new money to purchase these coins I will sell off existing coins that no longer fit into any of my sets.

    As a collector who has been collecting coins since I was a boy I currently own hundreds of certified coins. Many of these will make a nice pool of coins for bartering and selling to have the collection I want through retirement. I have five sets that have won major NGC awards and those sets plus the balance of my type sets will make up the core of my collection.

    In May of 2018 after years of knowing of its existence I finally joined my local coin club. (I don’t know why I didn’t do this sooner). This will keep me busy with the local collectors where I live. On occasion one of our club meetings is a buy-sell-trade meeting. This is a popular event for many of the members and especially the dealer members of the club.

    At the last meeting I offered to image two coins for free to every club member present at the buy-sell-trade. This has allowed me to demonstrate my macro photography set-up and help me to determine if this is something I want to do in retirement for fun and a little extra income. Now that I know this will be a thing I want to do, I will rent a table at local coin shows around the state to offer my services. For the time being this will only be an on-site thing. I don’t want the responsibility for people’s coins off site.

    Other than that, I’ll have time to do research and write-ups for the sets I currently own. For the most part, this part of collecting will cost me little or nothing! Other than that, I may do more blog posts like I used to do in the past. I may also dabble in doing a display at a major show like the annual Central States show in Schaumburg, Ill. After all, if I can win awards with virtual displays on NGC’s registry, why not real displays at a show?

    As a sidebar to an earlier post, I got the provenance on the certification labels I was hoping for with two medals I purchased directly from the curators of the Fraser Studio Finds. (The Numismatist, June 2018). With a custom set dedicated to the Coins and Medals of Laura Gardin Fraser, I am thrilled to own these medals that once belonged to the Frasers! I want to thank Laurynn at NGC for working with me on this one to note the Fraser provenance on the labels.

    Interestingly, the 1912 John Cardinal Farley caste medal at 131mm is too big for a holder. In Its place NGC graded the medal as is and sent a card with photographs of the medal and its label. NGC also stipulates that the grade is as is when the medal was graded and that the NGC guarantee for grade does not apply.

    It seems that in the end just because I’m retired and not buying as many coins as I used to does not mean that I will have to give up on the hobby! Pictured is the card sent back to me with the Farley medal and a macro shot of a 1942-D 2/1 Mercury Dime I took for one of my local coin club members.

    Gary


  3. coinsbygary
    A popular fishing metaphor describes the coin that got away from me.
    As collector?s we all naturally desire to acquire coins with spectacular eye-appeal for our collections. Each of us having an idea of what spectacular eye appeal should look like; we spend countless hours perusing hundreds of auction listings to find the proverbial ?needle in a haystack?. For many of us those countless hours turn into years until finally our meticulous searching pays off. However, there are those times when for either price or bad timing we hesitate and our ?needle in a haystack? gets away.
    Earlier this week, a ?buy it now? listing for an 1883 Morgan Dollar grading PCGS MS-65+ posted on E-Bay. This coin with more eye-appeal than one my 66s? listed for 16% above Fair Market Value for MS-65. Since I could not tell if the coin was over-priced, I placed it on my watch list figuring I had plenty of time to make up my mind. Unfortunately, the coin did not last 24 hours on E-Bay before it sold.
     
    With the advent of the ?+? grade I am confused as to what FMV is, since there are no values listed for ?+? grade coins. Furthermore, I think 20 steps of MS grades in contrast to 10 muddies the water. In the past if you thought a coin was solid for its grade, you could send it to CAC, and they would confirm if the coin is solid or not. In a way is this not what PCGS and NGC are doing with the ?+? grade. Interestingly, reading from CAC?s own web page, CAC does not recognize ?+? or ?star? grades, but rather only if the coin is solid for its grade or not. Now I am not disputing that either CAC or ?+? grade coins should not command a premium in the marketplace. What frustrates me is not knowing what that marketplace premium is.
    Thinking back, I should have grabbed the coin when I had the chance. Failing to buy the coin rather than the holder, I missed a coin with spectacular eye-appeal. In the end, is not a coin's value in the eye of the beholder? Oh well, perhaps it was for the best this time since the very next day the starter on my car died and with an expensive repair I did not need to have the added expense of a new coin. Therefore, for now, it?s back to the haystack!
    Since we in Collector?s Society are family, and taking from the lead of other members, I am posting my Facebook picture of my family at my son?s graduation (I?m the old F@&t on the left). Until next time, happy collecting!

  4. coinsbygary
    I know my December piece is a little early, but Ive been working feverishly on my owner comments for The Use of Seated Imagery in Numismatics custom set. I just finished the owner comments for this token last night and its history is so interesting to me that I had to post it. Ill post the other supporting pictures on the chat boards.
    NY 1863 NEW YORK F-630AM-1a CHRISTOPH KARL:
    There are coins in this set that are difficult to describe, and this 1863 store card is one of them. That said, I will convey the little I known about Christoph Karl in my owner comments. Then taking into account the historical context of this token, I will give a plausible explanation of the allegories present on this beautiful token from New York City featuring Germania, the national personification of Germany.
    Due to the hoarding of hard currency during the Civil War, merchants issued tokens and store cards in lieu of coins for use in their stores. Most of those tokens included the name of the establishment and its merchandise on the token. Other tokens were political in nature. However, this token gives only the name of the proprietor and the business address in New York. After numerous Google searches I found two sources stating that Christoph Karls establishment was either a liquor store or a saloon. I also found that Christoph Karl was born in Bavaria in 1824 and that he immigrated to the United States sometime between his birth in 1824 and 1859. In the following paragraphs, I will offer a theorem as to how and when Christoph Karl came to the United States using the allegory illustrated on this token.
    Starting in February of 1848 in France, a wave of nationalist political uprisings against the European autocracies erupted across the entire continent, including the German Confederation (1815-1866). The revolutionaries had hoped to usher in a new era of democracy and social reform in Europe. For many reasons, the revolutionaries failed to bring about the reforms they were fighting to gain. Following their loss, many of the revolutionaries fearing for their lives fled their homes to start anew in other countries. With the nickname Forty-Eighters, thousands of Germanic people immigrated to the United States. Many of those immigrants settled in the northern states due to their objection to slavery. I believe that Christoph Karl was among the Forty-Eighters settling in New York City.
    The obverse of this token features Germania seated close to a body of water with hills in the background. She is stretching her right arm over the land in an altruistic, calming manner. Behind her is the standard of the German Confederation with the tincture matching that of the black, red, and yellow colors of the German Confederation Flag. The shield is representative of the German Confederation arms with a double-headed eagle against a yellow background. Germania is wearing a more generic mural crown as opposed to a royal or imperialistic crown. At the base of the shield are oak branches representing strength and independence. Above the shield is the hilt of a sword showing a readiness to fight if necessary. The reverse features a harp representing harmony or perhaps unity. An oak wreath surrounds the harp with a radiant five-pointed star at the opening reminiscent of the approved, but not fully embraced, 1848 German Confederation Coat of arms.
    Not deterred by their earlier failures, I believe many of the Forty-Eighters took up the battle against the autocracies of Europe from their adopted homelands. Being a naturalized American citizen, Christoph Karl could now exercise his right to free speech without fear of reprisal. The lack of hard circulating currency during the Civil War was the perfect opportunity for a proprietor like Christoph Karl to continue to speak out against the reigning autocracies of the German states. Thus, I believe, given the absence of the business name on this token, that it should be numbered among those tokens making a political statement. Coins and tokens are excellent mediums in which to promote political causes. With the likelihood that a number of Germanic people and those sympathetic to the cause would frequent Christoph Karls establishment, this token was likely effective in promoting the cause of an independent German state.
    The picture substituting for the reverse of this coins owner comments is an 1848 painting of Germania, the personification of Germany. In it, the standard is that of the liberal nationalists and the rays of a rising sun is the beginning of a new era. Germanias crown of oak leaves denotes heroism, her breastplate, strength, her sword, power, and the hemp branch a willingness to make peace. At Germanias feet are broken chains, symbolic of being set free. To the right of Germania is the 1848 German Confederation Coat of Arms. Notice the similarity between the star on the token and the picture. The arms are very similar in meaning to the imagery of the harp.
    One of the things I find interesting concerning Germania is the way differing groups manipulate her for their own purposes. For instance, the revolutionaries were using the imagery of Germania on this token to promote their cause. On the other hand, the Prussians with the 1871 Victory Thaler manipulated Germania to strengthen Emperor Wilhelms status. These two positions could not be more opposed to one another.

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  5. coinsbygary
    The end of a long journey and the beginning of an even longer one
    Greetings again, seven months ago I wrote a numismatic tribute to my daughter as she earned her master?s degree. Now in little less than a week on December 19, 2010 my son will graduate college with a bachelor?s degree. The road has been long and hard, but now in the words of my son Jeffrey, ?I want to see what life has for me?.
    The coin I have chosen to commemorate my son?s graduation is a 2009 French 10 Euro coin commemorating the 50th anniversary of the European Court of Human Rights. I originally purchased this coin for my ?Inspirational Ladies? signature set because the obverse features Marianne as ?The Sower?. The translation of the reverse had always been a mystery to me before I turned to my son, who was taking French for its translation. In smart-aleck fashion, he replied, ?In the common tongue it means, "One ring to rule them all..." Just kidding. It was really good practice though. If you ever have any more French coins that you want translated, let me know--it was kinda fun. Anyways, it roughly means; "All humans are born free and equal in dignity and in rights. They are given reason and conscience and must act in the spirit of brotherhood".
    Jeffrey, I am proud of you and what you have accomplished. I pray God?s richest blessings on you as you begin to forge your life.
    For me this represents the end of a journey also, as Jeff is my youngest child. Now with both my children successfully completing their college degrees, I look towards the future and what it has in store for all of us. Therefore, with college tuition out of the way, maybe I will have more money to spend on coins! Then again, the next logical chapter in my children?s life is marriage, and I certainly need to save for that. Oh well, there are a few things in life more important than coins and my family most definitely qualifies! All the best Jeff, enjoy this moment, you have earned it!
    Dad.

  6. coinsbygary
    Two months after the Olympic Games and a month before our national elections, Octobers Coin of the Month (Volume 2, Number 2) is a 1995-P PCGS PR69DCAM Special Olympics Commemorative Dollar featuring Eunice Kennedy Shriver.
    The 1995 Special Olympics Games Commemorative Dollar has the same metallic composition and dimensions as a standard US silver dollar. The mintage of the proof coin struck in Philadelphia, is 351,764 while the uncirculated coin struck at West Point, has a mintage of 89,301. The obverse of this coin, designed by T. James Ferrell and based on the art of Jamie Wyeth, portrays a left facing profile of the founder of the Special Olympics, Eunice Kennedy Shriver. Around the upper perimeter of the obverse is the inscription, Special Olympics World Games. The reverse, designed by Thomas D. Rogers, features a Special Olympics medal, a rose, and a quote by Eunice Kennedy Shriver, as we hope for the best in them, hope is reborn in us. Further distinguishing this coin from other commemoratives is the fact that this coin is the first US coin to honor a living woman.
    Eunice Mary Kennedy Shriver was born to Joseph and Rose Kennedy on July 10, 1921 in Brookline, Massachusetts. The fifth of nine siblings, including three brothers named John, Bobby, and Teddy, Eunice hails from one of the most prominent political families in the history of the United States. On May 23, 1953, Eunice married Sargent Shriver, who himself became the founder and first director of the Peace Corps. Their marriage together lasted 56 years until Eunice's death, on August 11, 2009.
    Born into a prominent family, it would not be a stretch to say that Eunice was born into a life of privilege; nevertheless, Eunice chose to use her status as a Kennedy to serve others. As a person with an incredibly warm and caring heart, its impossible in the space of a single article to enumerate all of her philanthropic activities. With that said, I intend to focus on those activities and honors for which Eunice is best known.
    Perhaps more than anything, Eunice cared most about childrens health and disability issues, and as a result was a key founder of the Eunice Kennedy Shriver National Institute of Child Health and Human Development. However, Eunice is best known for her work with Anne Burke in establishing the Special Olympics for the intellectually disabled.
    The Special Olympics is an athletic competition designed to impart on its participants joy, honor, courage, and dignity. From the first games in 1968, the Special Olympics have grown into a movement that currently has four million athletes training in 170 countries.
    Eunice Kennedy Shriver has received numerous awards and honorary degrees. The most widely known of those awards is the Presidential Medal of Freedom, awarded to her by President Ronald Reagan on March 26, 1984 for her work with the intellectually disabled. The Presidential Medal of Freedom is the highest civilian award in the United States.
    The rose featured on the reverse of the Special Olympics World Games commemorative coin is of special significance. A single red rose signifies courage and respect, hope, joy, love, and beauty. The Special Olympics logo on the medal signifies growth, confidence, and joy among persons with intellectual disabilities. The spherical shape of the logo represents global outreach.
    I have always been curious as to why the mintage of the proof Special Olympics World Games commemorative coin is so high when compared with other commemorative coins. During my research for this article, I learned that a single corporate benefactor purchased 250,000 of these coins. Subsequently, those coins were given to Special Olympics athletes in 1998.
    In summary, I have heard from a few collectors that this coin is not particularly aesthetically pleasing. On the surface, I can see their point. However, if you can only look beneath the surface, you will discover an extraordinary beauty in the selfless, warm, and caring heart of Eunice Kennedy Shriver. So for now, until next time, happy collecting!
    Gary

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  7. coinsbygary
    For Novembers Coin of the Month column, I am using four coins to illustrate my heartfelt thanks to all the veterans of the United States Armed Forces.
    Those coins, all certified by NGC, are a 2005-P MS-70 United States Marine Corps silver dollar, a 2010-W PFUC-69 Disabled Veterans silver dollar, a 2011-P PFUC-69 Medal of Honor silver dollar, and a 2011-W PFUC-69 Medal of Honor five-dollar gold piece. Each of the dollar coins conforms to the dimensions, weight, and composition of a standard US silver dollar, and likewise, the five-dollar coin matches that of a standard US half-eagle.
    Initially called Armistice Day, Veterans Day coincides with the end of hostilities in World War I on November 11, 1918. By Presidential Proclamation, the first observance of Armistice Day occurred on November 11, 1919. Subsequently, in 1938 by an act of Congress, Armistice Day became an annual observance celebrated on November 11. Later through the efforts of World War II veteran Raymond Weeks, Armistice Day was renamed Veterans Day in 1954. Henceforth, since Armistice Day was originally intended to honor those who died on the battlefield in World War I, Veterans Day today celebrates the service of all veterans.
    The first of my tribute coins to our veterans is the 2005 Marine Corps commemorative dollar. The central device of this coins reverse is the United States Marine Corps insignia. Directly beneath the insignia is the Marine Corps motto Semper Fidelis which is Latin for Always Faithful. On the obverse of this coin is a representation of the February 23, 1945 raising of the flag on Iwo Jima atop Mount Suribachi. This moment, captured forever in time by a photograph is arguably one of the United States Marine Corps proudest moments. Against an enemy ordered to fight to the death, the invasion of Iwo Jima was one of the fiercest fought battles of World War II. Casualties were high on both sides, and of the six men who raised the flag, three of them fell in battle before the final fall of Iwo Jima on March 26, 1945. This battle exemplifies the highest ideals of the United States Marine Corps, ideals that continue in the Marine Corps today. The Marines have always been faithful to us in defending our freedoms; let us always be faithful in supporting them, Semper Fidelis.
    My next tribute coin is the 2010 Disabled Veterans commemorative dollar. On the obverse of this coin are the legs and boots of three veterans, one of whom has an amputated leg. Around the upper rim of the coin is a banner with the inscription, They Stood Up For Us. The reverse features an oak wreath wrapped by a ribbon with a forget-me-not flower at the base of the wreath. The oak wreath is a symbol of strength, and the forget-me-not, which dates back to World War I, represents those who were disabled during combat. Currently, 1.6 million service men and women have served in the Iraq and Afghanistan wars at some point. Of those, 45% have applied for disability benefits. This represents a significant number of men and women who are bearing the physical and/or psychological scars of war. The phrase in the middle of the wreath on this coins reverse asks us to honor the disabled defenders of freedom. Accordingly, let us honor those who have stood in the gap for us on the battlefield by standing in the gap for them at home, and giving them the love and support they both need and deserve. May they never be forced to carry the physical scars and psychological burdens of war alone.
    The Medal of Honor is this nations highest military decoration. It is awarded for conspicuous gallantry and intrepidity at the risk of life above and beyond the call of duty. There are currently three different medals, all illustrated on the obverse of the 2011 Medal of Honor commemorative dollar. The medal to the left is the Army Medal of Honor, the one on the right the Air Force Medal of Honor, and the one in the center the Navy, Marine Corps, and Coast Guard Medal of Honor. The reverse of this coin features a soldier under enemy fire carrying a wounded soldier to safety. For me, this represents the Code of Honor our service men and women live by to leave no one behind, even at the cost of his or hers life. The Holy Bible states that, Greater love hath no man than this, that a man lay down his life for his friends. This then is the type of honor, valor, courage, and love that all Medal of Honor recipients display. To date, less than 3500 Medals of Honor have been awarded. However, I would like to believe that to one degree or another, there are many more displays of these virtues that go on unrecognized on the battlefield. We as a nation can be proud of the people that make up our Armed Forces and the courage they exhibit in the face of grave danger.
    The final coin of my tribute is the 2011-W Medal of Honor five-dollar gold piece. The obverse of this coin features an image of the original Medal of Honor established in 1861. On the coins reverse is a likeness of the goddess Minerva carrying a Union shield in her right hand and the flag of the United States in the other, behind her are Civil War era munitions and a cannon. In Roman mythology, Minerva is the goddess of war, wise counsel, defense of towns, and heroic endeavor. The shield is representative of the Armed Forces of the United States; the flag is the banner under which they fight. As a defensive shield, is our military then defending a piece of cloth, or a plot of land? Rather they are defending the people represented by the flag and the freedom and liberty of that people. The men and women of the Armed Forces of the United States then deserve our heartfelt thanks and gratitude. Freedom comes at a high price and is not free, but for the men and women of our nations military, it is a price worth paying.
    As a veteran of the United States Navy during the cold war, I had often thought about how I would react if the call came to go to war. On my ship we spent countless hours training and preparing for such an event. Thankfully, for me, that call never came. However, today, scores of men and women are answering the call to arms, and many will pay the ultimate price on our behalf. Our veterans have given so much; let us not fail to show them the proper gratitude they deserve.
    Happy Veterans Day, November 11, 2012.
    Gary

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  8. coinsbygary
    An article in this weeks Coin World, a coin I collected 35 years ago in New Caledonia, and my new custom set, The Use of Seated Imagery in Numismatics gave me an idea for a little experiment.
    I normally do not advocate the cleaning of coins, but in the case of PVC residue there is little you can do for a coin to return it to its natural finish without first removing the residue. This week in Coin World, I read of a man who had cherry-picked an 1841-O, Small O, Closed Bud, Seated Liberty Dime on E-Bay for $99. Estimates however, place the value of the dime at between $10,000 and $15,000. There was only one problem the coin was encrusted in some type of ugly residue.
    The new owner of the dime deciding to remove the residue himself by first dipped it in acetone and then rinsing it with water before patting it dry. Still not pleased with the coins appearance he dipped it in olive oil and the residue fell off the coin like a sheet. He then submitted the coin to PCGS with a final grade of XF-40.
    The hunt for coins to populate my new custom set led me to an internet post concerning seated coins. There I saw a coin that reminded me of one I collected while serving in the Navy. Everywhere we put into port, I collected at least one of every circulating coin of that country. Then, I placed all the coins I collected into a binder with PVC plastic inserts. Acting in ignorance, I was unaware of the harmful environment I was placing my coins.
    In response to the aforementioned post, I retrieved a 1977, New Caledonia, 2 Franc aluminum coin from my binder to photograph and insert into the thread. After years in a PVC insert, the coin had a brownish tacky haze over the entire surface of the coin. I photographed the coin anyway and posted the pictures. Coincidently, the same day I posted my coin I read the aforementioned Coin World article and had a great idea for an experiment.
    The first part of my experiment was to take my inexpensive coin and bath it in olive oil. I dont have acetone, but that didnt matter since I thought that acetone would be a little harsh on a coin struck with a metal as soft as aluminum. Immersed in olive oil I gently rubbed the surface of the coin while watching the oil get darker with sediment from the coin. Then I rinsed the coin with water and patted it dry.
    The next step in my experiment was to do a stare and compare. For this, I replicated the lighting, camera position, and camera settings exactly as before. The only edits I made were in a raw picture editor where I adjusted the white balance and increased the exposure and the clarity of the photo. For each photo, the edits were the same. Afterwards, I placed all the photos together into a collage for a comparison.
    Amazed at the results the coin now has more of its original luster and color. Additionally, it is much brighter and attractive. Before the bath, the coin looked dull and listless. Gone is the tackiness feel of the coins surface. Overall, I consider my little experiment a smashing success.
    In summary, I am not sure I would have attempted to clean a coin as valuable as the dime in Coin World instead I probably would have sent it to NCS. However, for coins I do not intend to certify I think the olive oil bath is the way to go. Today, for better or worse I am a little less scared of cleaning my coins.
    Gary

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  9. coinsbygary
    Featured in this months edition (Volume 2 Number 10) of The Coin of the Month is an NGC MS-65, 1903 Danish 2 Kroner coin (KM-802) commemorating the 40th anniversary of the reign of Christian outside-affiliatelinksnotallowed This coin is 31 mm in diameter and weighs 15 grams with a mintage of 103,392. It has a silver fineness of .8000 and an actual silver weight of .3858 oz.
    The obverse of this coin features a right facing bust of Christian IX, King of Denmark. The dates of his reign, 15 November 1863 to 1903 appear around the inner circumference of the coin. Underneath the left portion of Christian IXs bust is the coins date of 1903 and a heart signifying that it was minted in Copenhagen. The initial P to the right of the date represents mint master Vilhelm Buchard Poulsen and the initials GJ underneath the right portion of Christian IXs bust represent this coins engraver, Knud Gunnar Jensen.
    Often in order to understand a coins design, you need to understand the times of its issuance. Therefore, to understand this period in Denmarks history, its people, and its ruler is to understand the allegory of the 1903 2 Kroner 40th anniversary of reign commemorative coin.
    For illustrative and comparison purposes I will contrast this coin with the gold 20 Kroner pictured as an inset in this months photo collage. I find it fascinating that two coins with similar designs have such diverse interpretations. The 20 Kroner gold coin came into existence as an international trade coin at the founding of the Scandinavian Monetary Union with Sweden in 1873 and Norway two years later. The Danish 20 Kroner circulated at par with the gold coins of the other member nations.
    Both the 20 Kroner and my 2 Kroner feature the feminine allegorical figure Dania who represents the spirit of Denmark. Coins with seated feminine personifications can signify several things, and first among them is that Dania, as portrayed on the 2 Kroner, is at rest representing peace. Next, the seated position generally represents a person of authority much like that of a monarch seated on a throne, a god or goddess, or perhaps some other high government official.
    Oftentimes a shield accompanies the seated personification signifying either a national value, as is the case of Lady Liberty for the United States or a coat of arms representing the nation issuing the coin. The shield as a piece of defensive armor represents preparedness and protection from all potential foes, domestic and foreign.
    The Danish coat of arms emblazoned on the shield of the 2 and 20 Kroner coins, feature three crowned blue lions and nine hearts. Historians believe that the hearts at one time were the petals of the white lotus, which is a type of water lily. However, this was lost over the years and became the hearts of today due to worn and crudely made signets during the Middle Ages.
    The sheaf of wheat on the 2 Kroner and corn on the 20 Kroner represent the agrarian nature of Danish society and Denmark's agricultural exports. While other European nations were fueling the industrial revolution of the 19th Century, Denmark was leading the way in the agricultural revolution. Universal education and other political reforms of the late 18th to middle 19th Century eventually lead to new agricultural technologies, innovations, and co-ops.
    It is at this point that the allegories of the 2 Kroner and the 20 Kroner become dissimilar and take on different meanings. Dania, as illustrated on the 20 Kroner is seen holding a scepter in her right hand signifying Danish sovereignty. At her feet is a dolphin, the dolphin is an ancient omen of good luck and fair weather symbolizing Danish naval prowess. Since this coin was meant for circulation outside of Denmark, the allegory of the coin was directed towards foreigners.
    The 40th anniversary of reign 2 Kroner, however, was meant to remind Danish citizens of the benefits of living in Denmark under the reign of Christian outside-affiliatelinksnotallowed The legend on the reverse delimited by flowers and translated, With God for Honor and Justice reveals the true intent of this coin and defines the allegory.
    Rather than holding a scepter as on the 20 Kroner, Dania is extending her right arm. Extending the arm, especially for someone in authority can signify power and leadership. A person may also extend their arm to give someone directions or to show them the way. It can also signify things like acceptance, welcome, vulnerability, transparency, and compassion. Seizing upon these definitions, I believe the purpose of this allegory was to remind the people of the benevolence of their government. Interestingly, it was during the reign of Christian IX that the following social programs were introduced
    * 1891--Old age pension law; means-tested pensions for persons 60 years or older, financed by the state and communes through general taxation.
    * 1892--Sickness insurance law; public subsidies to recognized voluntary insurance funds.
    * 1898--Employers liability act; in order to ensure workers compensation in case of industrial accidents. (THE DEVELOPMENTAL WELFARE STATE IN SCANDINAVIA: LESSONS FOR THE DEVELOPING WORLD, STEIN KUHNLE AND SVEN E.O. HORT)
    Tensions between Denmark and Germany were high when Christian IX ascended to the throne in November of 1863. Consequently, Denmark found themselves at war with Prussia and Austria in 1864 over the disputed duchies of Schleswig-Holstein. After about eight months, Denmark was soundly defeated. The bitterness of this war caused a shift in national priorities from colonialism to domestic development. The effect of this shift brought peace and prosperity to Denmark, and hence the dove as the international symbol of peace on the 40th anniversary of reign, 2 Kroner.
    In summary, while Christian IX resisted many of the reforms of the late 19th Century, he no doubt enjoyed the political dividends of peace and prosperity in Denmark during his reign.
    Coins are historical artifacts. For my part, I am simply researching the historical context of the coin and connecting the dots as I see them. Thats it for now, so until next month, happy collecting!
    Gary

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  10. coinsbygary

    Good Progress

    By coinsbygary,

    My reflections and observations on the progress of ?Gary?s High-Grade Morgans? and ?Gary?s MS-65 & 66?s?.
    Greetings all, three months ago I started a new collection based on MS-65 & 66 Morgan Dollars at an average cost of $200/coin. My research showed that approximately 22 coins or 20% of all the dates and mints met my criteria. Now that my custom set, ?Gary?s High-Grade Morgans? is 64% complete, it?s a good time to reflect on the progress and quality of the coins I have acquired to date.
    Of the 14 coins I purchased, five are graded MS-66. Included within those five coins is a four-coin 1879 to 1882, S-mint short set. One of those coins, the 1882-S, is CAC verified solid for its grade and as such is likely the closest I will get to a MS-67 Morgan. The fifth MS-66 is an 1898-O dollar with beautiful lightly frosted luster. In order to meet my budget constraints, I acquired all these coins for less than Numismedia Fair Market Value with the 1898-O purchased for 35.6 % less than FMV. In fact, I was so encouraged by the 1898-O, that I began to think it possible to buy the other four MS-66?s within my budget. On a side note, all the MS-66 coins except for the 1898-O have risen in FMV the last two months in a row.
    Two of my Morgan Dollars, an 1878-S MS-65 and 1880-S MS-66 have semi proof-like surfaces that photograph well with a slight cameo finish. Another coin, the 1885-O, is graded proof-like 65 by NGC and yields 224 more points than the equivalent MS graded coin. I had the 1885-O on my E-Bay watch list for a little less than a week, and with 7 minutes left in the auction noticed that no one had placed a bid. Desiring to obtain at least one proof-like coin for my collection, I placed my bid for the seller?s minimum and won the coin. For a coin that cost slightly more than the FMV for the MS equivalent, it was 17.8% lower than the FMV for the proof-like coin.
    Another coin, an 1887 PCGS MS-65+, I acquired through a Teletrade auction. I placed my maximum bid on the coin at just below FMV for a MS-65 example. When the auction began, the bid went right to my maximum, and I thought I would lose the coin. However, it seemed no one else wanted the coin, and I won the auction. With a focus on quality and value, I am getting the best coins possible for the money while staying close to my budget. As far as points are concerned, this coin gets 103 more points than an MS-65.
    With no intention to compete with ?Gary?s MS-65 and 66?s?, I am using the points as a measure of quality. I am also populating this set with select MS-64 coins as a place to park odd coins in my collection. For example, it makes no sense to populate a dollar type set with an MS-64, 1885-CC at 171 points when I can place it in ?Gary?s MS-65 and 66?s? for 663 points. Furthermore, the 1885-O proof-like dollar is worth 684 points as a type coin in contrast to 502 points in a complete Morgan Dollar set? go figure!
    Because of possible grade-flation over the years, one CS member recommended that I try to get PCGS coins in Old Green Holders. Two of my coins, the 1883 and 1885 are in OGH?s with another two in the older ?small hologram? NGC holders. Soon I may submit the best coins from my collection to CAC in the hope of further accentuating the quality of my set. Whether there is grade-flation or not, the coins in these older holders are attractive coins.
    Overall, I am pleased with the progress, quality, and value of my collection to date. Depending on how well I do with my budget, I hope to add one more MS-66 to my set. Below is a picture collage of my two latest acquisitions, an NGC 1885-O, PL-65 and PCGS 1887, MS-65+.
    On yet another side note, with all the coins I purchase, I never lose the thrill of finding obsolete coins in circulation. March has been a banner month for finding Wheaties in circulation. After months of not receiving any in change, I found three, the 1940, 1953, and 1955-D Lincoln Cents this month. I know these are not worth much, but that does not diminish the fun of finding coins in circulation that have been around from since before I was born! Happy Collecting All!
    Gary

  11. coinsbygary
    With the coming of a new year comes a new set of Morgan Dollars!
    Happy New Year everyone, this time of the year is a good time for contemplation and planning; contemplation of the past year?s highlights and low lights, and planning for the new year. Overall, last year was a good year for me as measured by the goals I set for myself. I have upgraded and/or added coins to my 19th Century type, first-spouse, Inspirational Ladies, and Britannia sets. A few of my goals, however, are longer term goals based upon the availability of coins suitable for an upgrade. For instance, I only added one coin to my Netherlands 10 Gulden set this past year, upgrading an MS-63 to an MS-64 on my way to MS-65 for the entire set. In 2011 most of my goals will continue unchanged.
    One thing I did not anticipate last year was adding and completing another set. Because of my love of coinage history in general and the New Orleans Mint in particular, I discovered another love. That new love is the Morgan Dollar. For a period of four months, purchasing coins for ?Born on the Bayou? consumed my collecting interests. Furthermore, because of their eye appeal, I was attracted to rainbow-toned Morgans. Now for the same reasons I am adding a new set this year.
    A large drawback to collecting Morgan Dollars is the overabundance of those hideous looking contact marks. While I have always liked the Morgan dollar, this fact kept me from collecting Morgans at least that was until ?Born on the Bayou?. While rainbow-toning hides the contact marks in lower MS grades, coins grading MS-65 and higher have very few contact marks, allowing the true beauty of the coin to come out. For me gem BU Morgan Dollars are a sight to behold.
    Once I started collecting Morgan Dollars, I learned how collectable this series was in gem BU condition. Through researching coins for ?Born on the Bayou?, I discovered I could collect 22 MS-65 dates for an average of less than $200 per coin! Therefore, partially based on a recommendation from another Collector?s Society member to ?Go for It?, I am starting a collection of gem BU Morgan Dollars!
    One other point my Society friend made was that the market for Gem BU Morgan Dollars was little soft. Often I take these suggestions with a grain of salt, after all the proof is in the pudding. Therefore, with the Numismedia Fair Market Value as my guide, I thought to populate the entire set with cherry picked MS-65 dollars and buy one MS-66 dollar as a representative coin. Perusing E-Bay listings, I found a gorgeous MS-66 1898-O and submitted a maximum bid of FMV. To my delight, I won the auction with a bid 36% less than FMV! Later I won a MS-65 1896 dollar on the Tuesday evening Teletrade auction for 14% less than FMV! These recent purchases have greatly expanded the scope of this collection. Now with a set average of $200 per coin, I will enhance the quality of my collection with a mix of MS-65 and 66 coins! When I start populating this set, in addition to the competitive set, I am starting a custom set because I believe I can better present this set as a custom set. The custom set forum allows me to display my new set as a complete set in contrast to a competitive set I have little hope of completing.
    Check back often, 2011 should prove to be an exciting year! The year is already starting with a bang as on the first day of the year I purchased a MS-69 2011 PCGS Britannia! There is much more to say about my goals this year and about Tuesday evening Teletrade auctions, but rather than bore you with the details in a long post, I will save it for another post. For now, check out this bad girl (I?d say bad boy but with this coin it seems a little inappropriate)!
    Happy collecting and Happy New Year!
    Gary

  12. coinsbygary

    A Fly on the Wall

    By coinsbygary,

    Have you ever wanted to be a ?fly on the wall? and listen in on a conversation? I had just that exact experience last Friday at the ANA?s ?World?s Fair of Money?.
    Greetings all, I had a fabulous day at the ANA?s "World's Fair of Money? in Chicago. On my arrival at the convention, one of the items on my ?must see? list of things to do was to view ML Moser?s collection of pristine Morgan Dollars at NGC?s table. Walking towards the display, I noticed several people huddled around the display viewing Mr. Moser?s collection. Finding a place to stand and view one of two display cases containing Mr. Moser?s coins, I overheard a part of a conversation that made my ears perk up! In that conversation, I heard the ?ML Moser? being introduced to somebody else by a representative of Heritage Auctions. I could not believe it, what an opportunity to meet the owner of the finest collection of NGC graded Morgan Dollars that there is! Asking if anyone objected to me listening in, I continued as Mr. Moser described several of the coins in his collection to the Heritage representative. I listened with delight as Mr. Moser with a sense of pride described his 1881-S MS-68+ star date with a population of one, and none higher in the NGC population report. I also watched as the Heritage representative with a sense of glee personally inspected a few of the coins. Then, as I was getting ready to leave the display, the Heritage representative asked me if I collected Morgan Dollars, at which I excitedly answered, yes! At that, the Heritage representative asked Mr. Moser to sign one of his brochures for me! The NGC brochure describing Mr. Moser?s collection was signed ?Gary, happy hunting, ML Moser." Leaving the display, I had to pinch myself to see if what was happening to me was real.
    Then there were the rare coins to view including a 1913 Liberty Nickel, 1804 Silver Dollar, and a gorgeous specimen of the AMERI. 1793 Chain Cent. Another highlight there for me was a collection of Gobrecht pattern dollars. At the APMEX table, I did wrist curls with a 354-ounce bar of solid gold! Of course, the gold bar was secured in a heavy plastic case with a hole in the side in which you placed your hand to lift the bar; and naturally, an armed guard was close by. Never before have I had something worth 654 thousand dollars right in the palm of my hand! Another table at which I spent considerable time was with a dealer demonstrating and selling coin microscopes. I was very impressed with this fascinating little instrument with which I could examine the finest details of my coins. If they say the difference between boys and men is the price of their toys, then this toy has me intrigued. While I was tempted, I need to take more time to consider buying this toy. If I eventually get it, I will be sure to do a post on it.
    My wife is very gracious to me when it comes to my hobby and me. With her by my side at the show, she seemed graciously tolerant of every table I stopped at. Interestingly though, she also is a collector of sorts and loves collecting ?Cherished Teddy? figurines. When we walked by the PandaAmerica table she noticed a Chinese Silver Panda and asked me if I could purchase one. At that time, I had not purchased anything yet, so I told her if I had any money left at the end of the day I would return to buy it for her.
    I went to the show with a list of four Morgan Dollars in MS-64 condition I was looking for valued in the low $100s. Of that list of four coins, I had hoped to purchase two. However, the same problem I had in the past while shopping for certified early coppers, I encountered with the Morgan?s. It seems that dealers when traveling to shows travel with the best coins in their inventories. I could probably have purchased each of the dates I was looking for, but only in MS-65 condition or higher. In a strange twist of irony though, I encountered a dealer who had affordable early coppers, and I managed to purchase an AU-50 1828 ? cent for my type set! Additionally, this coin has sentimental significance attached to it. When I was a boy, I purchased an 1828 ? cent at my very first coin show. I later sold it because it was deemed cleaned and unable to be certified at a full grade. Nevertheless, I regretted selling that ?-cent and this new one purchased at the ?king? of coin shows more than atones for that mistake. Curiously, the dealer I purchased the coin from was based in Chicago, meaning he could bring nearly his entire inventory had he wanted.
    Having purchased the 1828 ?-cent my wife asked me if we could go back and buy the panda. Even though I do not collect pandas, how could I say no to her, so I purchased a 2011 MS-69 silver panda? Having seen most of what I wanted to see, it was about time to go home. On the way out, my wife noticed a colorized panda and asked if I could buy that one also. Feeling emboldened by buying one panda, I was not about to buy two. On our way to the car, my wife said in these exact words, ?I should have nagged you more for colored panda." She even mentioned it after we got home, and I finally said, ?Look, there are no colors on the panda except black and white?! Appropriately, I am going to put the properly colored panda into my ?Inspirational Ladies? set dedicated to her.
    Finally, I do not know if ML Moser reads these journals, but I want to thank him personally for putting together such a fine collection and for being willing to share it. I also wanted to thank him for his signed brochure that will always be a fond memento of the show. Some people collect autographed photographs of sports figures, but I collect brochures autographed by famous coin collectors! I am also posting a picture of my wife?s panda with this journal post, so until next time, happy collecting!
    Gary

  13. coinsbygary
    Behind the scenes, I am always on the lookout for coins to add to my ?Inspirational Ladies? custom set.
    With 70 coins in my ?Inspirational Ladies? custom set it can seem as if new additions are a slow go. In reality, nothing could be farther from the truth. This year alone I have added five coins to my set. Within those five coins are allegorical representations of Liberty/Freedom on a 1910 Mexican Caballito Peso and the goddess Minerva on our 2011 ?Medal of Honor? $5 commemorative. Another coin, a two Euro bi-metallic coin from San Marino features an allegorical representation of ?Spring? from an Italian Renaissance painting by Sandro Botticelli. Closing out my additions, are coins featuring two ladies whose humanitarian contributions have made this world a better place. They are Florence Nightingale featured on a Jersey five-pound coin and Mother Teresa on a French 10 Euro coin.
    Where possible I try to buy coins that are already certified. However, if there is a coin that really catches my attention, I will buy it raw and hold it until I have enough coins for a submission. In fact, I have been holding the San Marino coin since last September. On Monday, I got my first submission of the year back from NGC, and I am highlighting three of those coins in this post.
    My first coin is a 2006 five-pound coin commemorating Florence Nightingale from the country of Jersey. Before I bought this coin in January, I had never heard of Jersey. When I looked it up on-line in the CIA?s world factbook, I discovered it is an eight-mile long, by four-mile wide island in the English Channel. Florence Nightingale is known for her pioneering work in nursing, and in particular, caring for wounded British soldiers during the Crimean War in 1854. While treating those soldiers she brought attention to the unsanitary conditions that was killing many of them. It is said that by improving those conditions, she effectively reduced the death rate from 42% to 2%. Florence Nightingale often made her evening rounds while carrying a lamp and became known as, ?the lady with the lamp? by her patients. This is the reason that on the obverse of this coin along with her bust is a small lamp.
    I am very particular about the coins I include in this collection. I?ve dismissed a few coins for inclusion into my set because they seemed too racy for me. My 2010 two-euro coin from San Marino was a close call because of who the lady on the obverse of this coin represents. The image on this coin is one of three graces or charities in Greek mythology. The three graces were known for their charm, beauty, nature, human creativity, and fertility. The image on this coin though is taken from a 1482 painting by Sandro Botticelli named ?Primavera? or ?Allegory of Spring?. In the painting Venus is the central figure flanked by the three graces dancing together and the female goddess Flora/Chloris spreading flowers. Since spring is an inspirational time of the year with regeneration and new life, it is only fitting that female allegorical figures should represent it. Because art is often inspirational and the ladies in this particular painting are portrayed tactfully, I am including this coin in my collection.
    The last coin I am highlighting in this post is a 2010 French 10 euro coin commemorating Mother Teresa. Mother Teresa, a Catholic nun from Albania started a missionary society in 1950 named ?Missionaries of Charity in Calcutta?. Through this mission, she ministered to the poor, sick, and orphaned children of India. Eventually, Mother Teresa?s influence and ministry spread outside India and she received international acclaim for the work she did. This coin celebrates the 100th anniversary of Mother Teresa?s birth, and the reverse features her standing next to Pope John Paul the II. This truly remarkable person of faith has touched untold millions around the world and the organization she founded continues to minister to the sick and poor to this day.
    Before I close this post, I want to thank brg5658 for his inspirational photographs. The photograph I am posting is modeled after his. Until next time, may you find those special coins to add to your collections.
    Gary

  14. coinsbygary
    My day at the Central States Numismatic Society nets two new coins for my collection and a whole lot of fun.
    It is a rare treat for me to attend a major coin show, so when the opportunity arises, I usually try to make the most of it. Since I live a little less than 3 hours? drive from Chicago, my latest opportunity presented itself a couple of weeks ago Friday at the annual Central States Numismatic Society coin show.
    With every show I attend, the experience of the previous show helps me to prepare for the present show. For instance, last time I learned that most dealers do not accept credit cards on the bourse floor by having to walk several city blocks to find an ATM. This time I loaded up with cash from my local ATM before leaving for the show.
    So, with cash and ID?s in hand (One year my wife did not have her ID with her, and they almost did not let her in) and a day off work, my wife and I hopped into the car for the drive to Chicago. Personally, I have found that Friday is the best day to attend a show. The advantage to Friday is that most people who might attend the show over the weekend work on Friday. With a smaller crowd and earlier attendance comes the first pick of coins available at the show.
    Another important aspect of preparation is to know exactly what you are looking for and how much you want to pay for it. I had one coin in my target list, and I was looking for an MS-65, 1901-O Morgan Dollar. When we arrived at the show, I immediately embarked on a scavenger hunt to find my treasure. A lot of the fun of a coin show is in the hunt. I must have searched through more than a dozen glass display cases full of coins before I found a dealer that had just what I was looking for and at a fair price.
    Now with my treasure in hand and money left in my pocket, my attention turned towards adding another type coin to my collection, and I resumed the hunt. However, in my search for early coppers, I did not find a suitable certified example to add to my collection. It seems when dealers pack to go on the road, they like to pack their heavy hitters and for the second year in a row, all I could find were MS examples and rare lower grade coins. One dealer whom I have seen advertised in several periodicals left me his card and invited me to call him when he got back home, so I just might take him up on that.
    While on the hunt to fill holes in my type collection, I found a dealer with two MS-63, 1883 no-cents nickels. Needing this fairly common and inexpensive coin for my collection, I reveled in the fact that I could choose the better of the two in a side-by-side comparison. Furthermore, the dealer gave me a great quote on the coin, and it was a sale. Now with two nice coins in hand, I called it a day.
    My poor wife, on the other hand, is quite bored with the hunt and the many conversations I enjoyed with other coin-collecting zealots. However, she seemed to enjoy the educational displays and spent most of her time there. I must admit, several of the displays were appealing to me also, and in particular, an ancient?s display with coins from all the places the Apostle Paul from the Bible visited on his journeys. As an extra special treat, the owner of the display approached us and talked about the coins and other artifacts in his set. This owner was also quite innovative with his display design in that he had the coins elevated in the display on a piece of glass with a mirror behind the coins so you could see the reverses. I left hoping the owner of the display won an award for his very handsome and informative display.
    Overall I had a very enjoyable day, and I am looking forward to the ANA show in Chicago this coming August. Until then, may you enjoy unearthing the treasures for your collections.
    Gary

  15. 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
  16. coinsbygary
    The definition of profile is to describe, write about, give an account of, portray, depict, sketch, and outline. That said, could someone easily write about, give an account of, portray, depict, sketch, or outline my collector profile by the coins currently in my collection?
    This is exactly the question I am asking of myself as I examine the state of my collection. More specifically, which coins in my collection represent my core passion as opposed to those I bought on a whim? If I were to be honest with myself, Id have to admit that there are currently a number of coins in my collection that I bought impulsively. It is those coins that effectively blur my profile. Furthermore, they are a distraction which causes me to lose focus and needlessly spend money.
    One of the first things a person must do before they start buying coins is to determine what coins they'd like to collect. Potential collectible coins may include US coins, world coins, type coins, series, moderns, classics, die varieties, error coins, tokens, medals, etc. IMHO a collection of coins needs to have purpose and order. Furthermore, the individual collector needs to become an expert on those coins he or she wants to collect. Developing my collector profile has helped me to bring purpose and order to my collection.
    For me I love type collecting, theme-based collecting, pedigrees, allegorical coins, premium-quality coins, sentimental coins, and coins with a story. At the core of the aforementioned list is variety. Theme-based sets stand on their own no matter if that set has two coins or a hundred. However, they are also open-ended. For instance, I will never run out of possible additions to my seated imagery set, yet if I never add another coin, it stands complete. Open-endedness also insures that I probably won't get bored with the set.
    Type sets bring a lot of variety to coin collecting, such as coins of a specific denomination, century, mint, or base metal. Allegorical images add mystery to a coin and oftentimes, the allegories on coins link them with specific places and periods in history. As a person interested in history this aspect of coinage fascinates me. Coins with pedigrees such as hoards and shipwrecks come with separate storylines all their own. Premium-quality coins are aesthetically pleasing to look at and I am determined to buy the best coin, within the best grade I can afford. In a nutshell this is my collector profile. This brings me describe a few coins from my collection to which I either yielded to the numismatic hype or bought on an impulse.
    In the fall of 2011 the Mint released the five-coin 25th anniversary Silver American Eagle set and I ordered a set directly from the Mint. Then I had it graded as a set by NGC. However, I also remember the feeling of possibly being left out had I not ordered the set. Consequently, I momentarily lost sight of my collector profile. As it stands, since the SAE anniversary coins dont fit into my collection as type or theme-based coins I should not have bought them at all. Now Im probably going to sell the set at a slight profit and spend the proceeds on a profile coin. On another occasion, my daughter bought me the two-coin West Point SAE set that I will probably keep for sentimental reasons.
    Morgan Dollars became attractive to me because they offer a multitude of sub-set type options. First, some of them were minted at obsolete mint facilities such as New Orleans and Carson City. Next, many of the Carson City dollars have the GSA hoard pedigree. Additionally, the Redfield hoard adds a different pedigree twist to a vastly popular collector series. Morgan Dollars also have some of the best examples of toning in numismatics, thus satisfying my profile by being aesthetically pleasing. Finally, since many of the Morgan Dollars didn't circulate, I even started a theme-based set based on MS-65 and 66 examples with an average cost of $200 or less.
    I started collecting Morgan Dollars in 2010 with a type set based on toners and the New Orleans Mint after which I decided to complete the entire business-strike series as soon as I determined that it was doable for me. Thus for three years I bought Morgans with a vengeance, even adding a VG10, 1893-S to my collection. About two years ago I decided to take a break and hadnt bought but a handful of Morgans since. Now I wonder if the number of sub-types in this series somehow clouded my profile, especially since I dont have a passion for series collecting. For now I will be thinking long and hard before I sell off my Morgans, considering that if I start down that road there will be no turning back.
    In summary, it is a good thing for me to periodically audit my collection based on my profile because it keeps me disciplined and my collection from getting cluttered.
    This all brings me to the latest addition to my 7070 type set that perfectly fits my profile. That coin is a PF-62 Cameo, 1863 Civil War era quarter with aesthetically pleasing light golden toning, distinct cameo devices, and a strong strike. Additionally, I have added three coins to my theme-based seated-imagery set. Finally, I encourage all of you to stayed focused on the coins that fit your profiles, whatever those coins may be.
    Gary

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  17. coinsbygary

    Obsessed!

    By coinsbygary,

    Why do my obsessions have to cost so much?
    It seems that forever and a day I have been obsessing over coin photography. I absolutely must have high quality photographs of my coins to display in my registry sets. For years I have been trying to take just the right picture, but only with mixed results. To say that this has been an obsession with me is an understatement.
    To add to my obsession is the realization that with each coin being different, there is no such thing as a cookie cutter approach to photographing coins. With differing metals, luster, and finishes coins can be a bear to photograph correctly.
    Admittedly, much of my problem is with my setup. Thinking I needed a higher quality camera, I bought a new camera. While the pictures were better, they were not what I expected. Finally, I broke down and purchased a tripod. There was some improvement, but I was still not satisfied. Then I purchased Photoshop Elements 8 and fixed the problem of standardizing my background matting. However, when editing photos, even Photoshop needs good raw material to work with. While each of these steps had helped in my quest for just the right picture, I still was not entirely happy.
    If location, location, and location are the most important considerations in real estate, lighting, lighting, and lighting is the most important in photography. Up until a week ago, I had been using a desk lamp without a shade and a 60-watt incandescent light bulb for my light source. This set up presented problems with white balance and shadows. Getting a good picture was possible, but often took trial and error with a large dose of determination. Finally, I broke down and thought that maybe I should invest in better lighting.
    For the obsessed, better equipment often means spending much more money than necessary to get what is perceived to be the best. Perusing several websites, I purchased a kit that included two professional table lamps on adjustable stands, a lighting tent, and a camera stand.
    It seems though that life is not without a sense of irony as I ordered this kit just before reading the journal posts of the past week by Moondoggy and Merlin8*. To pay 10 times more for a set-up than what is necessary is often the lot of the obsessed. If I could only manage a little self-control, maybe I might get somewhere. At any rate, the quality of my pictures will markedly improve albeit at a higher cost.
    It is said though that the proof is in the pudding, and for the evidence of that, I offer a picture collage of my E-Bay Bucks purchase PCGS MS-65 1878-S Morgan Dollar. This coin with satin devices and semi proof like fields is absolutely stunning! Now if only I could get over my obsession with buying coins over budget and stick to my moratoriums?oh well, happy collecting!
    Gary

  18. coinsbygary
    Phase 2 of a major re-organization in my collection is complete.
    A few months ago, I wrote about the beginning of a major shift in my collecting priorities. The first phase of this re-organization involved selling seven ANACS details graded gold coins to purchase an 1893-S Morgan Dollar. In Phase 2 of my re-organization, I decided to liquidate most of my proof ?First-Spouse? coins. With the proceeds of those ?New Gold? coins, I planned to purchase the ?Old Gold? coins necessary to complete the gold portion of ?Gary?s Type Set."
    Now I am happy to say that phase 2 of my re-organization is complete. The first coin I purchased with the proceeds of seven ?First-Spouse? gold coins that I sold on E-Bay was an AU-53, 1854 $3.00 gold piece. Additional purchases, all in MS-62 condition, include an 1853 ?Type 1? Gold Dollar, 1857 ?Type 3? Gold Dollar, 1914-D Indian Quarter-Eagle, 1881-S Liberty Eagle, 1897-S Liberty Double-Eagle, and the final piece of the puzzle an 1878-S Liberty Quarter-Eagle.
    The NGC 1878-S quarter-eagle is a bit of an oddity though, not because of the coin, but because of the holder. I noticed the photograph of the holder in the E-Bay listing had the coin labeled as 1878. However, the reverse pictures clearly showed the mintmark ?S.? I verified the certification, and sure enough, there was a mintmark on NGC?s certification verification photo. In a classic example of buy the coin and not the holder, I bought the coin because of its lack of contact marks for an MS-62 coin. Furthermore, the ?S? mint coin has a lower mintage than the 1878 coin, although neither of those coins is particularly scarce and the money you can expect to pay for both those coins is roughly the same through MS-62. At some point though, I may get this coin re-holdered, but I am in no hurry. Furthermore, unless I get it re-holdered at a coin show, I am not paying postage and insurance to send it to Florida.
    Flush with cash in my PayPal account, I thoroughly enjoyed my little ?shopping spree." However, I did not get as much money as I had hoped for from the sale of my ?First-Spouse? coins. It seems, just as I suspected, that there is not a strong demand for these coins in the marketplace. Fortunately, since I had purchased most of the coins I sold, two to four years ago when the price of gold was considerably lower, I made a healthy profit on each coin. Now I have six coins left to sell and plan to use the remaining proceeds to pay a few bills and purchase some key-date Morgan Dollars.
    I am in no hurry to sell the remaining coins, especially since I purchased most of them recently. For now, I am monitoring the auction results of my coins to see what I can expect to get for them. I am especially monitoring the new kid on the block, ?Great Collections." What has me intrigued about ?Great Collections? is that if my consignments sell for over $1000, there are no seller fees. Additionally, the buyer?s fee is only 10%.
    The 1914-D Indian Quarter-Eagle in my collection I won on a Sunday evening ?Great Collections? auction. For being so new, I am very impressed with ?Great Collections," and especially their speedy delivery. The next day after the auction, my coin shipped, and I had it in my hand on Wednesday. The only thing I am concerned about though, especially with a possible consignment, is their limited visibility. However, as time goes by, I definitely see that increasing. Even so, the potential of no seller fees is quite tempting, especially since E-Bay and PayPal took me to the cleaners.
    Overall, I am quite pleased with where my collection is at and where it is going. Sometime later, I will have more to say about ?Great Collections.? My picture collage shows the first coin and the last coin I purchased during my recent 7-coin shopping spree. Until next time, ?Happy Collecting?.
    Gary

  19. coinsbygary
    One of the things that endears me to coin collecting is allegorical art. I have several sets in my collection based on allegories alone. I have always maintained that coins are a powerful medium to communicate national ideals through allegorical images.
    For me a lot of the fun in collecting coins is deciphering the allegories. In researching the allegories, I am amazed by how much I have learned about world history through the stories told on coins! For instance I had not known that the name "Borealia" had been considered for Canada's name at it's confederation in 1867 before I acquired the latest coin for my allegorical "Inspirational Ladies" set. The following is a description of my coin purchased from Tallisman Coins and comes from their website:
    Building on the classical concept of a female national personification, Canadian artist Rebecca Yanovskaya offers a new allegory for a modern Canada. Framed by waves and maple leaves that unite land and sea, Borealia is the very picture of strength and confidence as she stands against the majestic backdrop of Canada's tallest peak, Mount Logan, which represents the soaring spirit of innovation.
    Like the British figurehead Britannia, Borealia is clad in traditional robes, but with unique armor that hints at Canada's journey since the colonial era. Every engraved element in this intricate design carries deeper symbolic meaning, including those that allude to the weight of history: the fur cape that represents Canada's pre-Confederation past; the feather that pays tribute to Indigenous Peoples; and the poppies of remembrance woven into her hair. In one hand, Borealia holds the shield of the Arms of Canada; in the other, a dove of peace, a nod to Canada's historic role as peacekeepers, but also to Canadians' desire for peace.
    Facing forward towards the future, Borealia is strong, optimistic and steadfast, like the people she represents, whose ideals and spirit continue to shape and redefine the nation's global future. With one foot reverentially set in the past, her name is an ode to one of the proposed names of Canada leading up to Confederation: Borealia.
    Traditional engraving creates a classical portrait of the modern Miss Canada, a highly symbolic and meaningful allegory or personification of the goddess Miss Canada, struck in one full troy ounce of 99.99% pure silver, and layered in precious 24-karat gold!
     She is youthful yet wise, peaceful yet  powerful. She is Borealia, (from "borealis," the Latin word for "northern") the goddess Miss Canada, who radiates strength and confidence on this fully gold-plated, 99.99% pure silver proof. This symbolic personification is a superb rendering of a classic allegorical figure who represents the collective spirit of Canadians in today's world: hopeful and steady in resolve and perseverance, rising to meet the challenges that lie ahead.


  20. coinsbygary

    INSANE!

    By coinsbygary,

    This current sudden rise in value of high-grade common date dollars is insane and shows no sign of letting up.
    Several months ago, I began a collection of what I felt were affordable MS-65 & 66 Morgan Dollars. Now my collection of 22 MS-65 & 66 Morgan Dollars is complete and resides as a custom set in ?Gary?s MS-65 & 66 Morgan Gems?. I started this set based on the hope that I could complete it at an average cost of $200/coin. For a while, I was doing pretty well until the value of common date Morgan Dollars in uncommon grades started sharply increasing. Fortunately, by the time I noticed the sudden change in market values, my set was nearly complete. In the end with a little help from ?E-bay Bucks?, my final average cost came to $203/coin.
    I would love to say that ?I saw this coming?, but the truth is that I am very fortunate to have gotten on this train just before it left the station. Since January, most of the coins in this set have seen double digit increases in value, with three of my MS-66 coins increasing 69% in value! I know this is not sustainable and that there will be a correction at some point. However, I have read several articles in the last week or so suggesting the current correction in silver is not affecting the value of high-grade common date silver dollars. This sudden increase in the price of silver may have started a demand that has yet to see a correction.
    The numismatic value of a coin is the value above the melt value of that coin. Increases in low-grade common date dollars are more in line with the coins melt value. High-grade dollars, on the other hand, have eclipsed their melt value to increase in some cases hundreds of dollars. In essence, the intrinsic value of a high-grade common date dollar is practically a non-factor.
    One of the biggest casualties of a rapid rise in the price of silver is the permanent loss of entry-level coins due to melting. Time will tell how this current loss of supply will affect the long-term market. Nevertheless, a drop in supply is sure to put upward pressure on what remains. Although high-grade silver dollars are in no danger of being melted for their silver content, the upward pressure from the bottom tier dollars is almost sure in some way to buttress the higher tier.
    A bad E-bay experience illustrates the difference a month can make. On April 3, I won an auction for a NGC MS-65 1902-O Morgan Dollar. However, the seller who had a 100% feedback score at the time never sent me my coin. I filed a customer care case with E-Bay, and they refunded the money I spent to buy the coin. One month later, I won an auction for a PCGS MS-65 1902-O dollar and spent 38% more than I paid for the original coin. Even though I won the case and got the refund, this incident unnecessarily cost me more money. The point of this illustration though is that it is an accurate microcosm of the market as a whole.
    Where do I go now that this portion of my collection is complete? I think I will take a break from Morgan?s for now and focus on other areas of my collection. As I stated in a previous journal, the increased activity in one area of the market is making for good buys in other areas. We?ll see what happens, but until then, happy collecting!
    Gary

  21. coinsbygary
    A short one this time.
    A few hours ago I sent an e-mail to NGC's customer service asking them to add the 2011 slot for silver uncirculated British Britannias. So when I opened my CS page a few minutes ago, I found that the slot had been added! Now how's that for customer service! Thanks NGC!
    Gary
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  22. coinsbygary
    Over her long and distinguished career Laura Gardin Fraser had a very cordial relationship with the United States Military Academy at West Point, New York. Both Frasers loved America and the Armed Forces of the United States. Many of their military related commissions not only included medallic art, but also full size sculptures and smaller bronzes.
    There are three significant works Mrs. Fraser completed for The United States Military Academy. The first is a 1952 bronze medal commemorating the sesquicentennial of the USMA. Struck by the Medallic Art Corporation, this medal was presented to the parents of the cadets who entered the academy that year. A small insert reads, "A memento of the United States Military Academy to the parents or guardians of the cadets who entered the Military Academy in the Sesquicentennial Year".
    The medal's obverse displays the flaming torch of leadership, the sword of valor, and a laurel wreath representing victory. The reverse emphasizes the United States Military Academy Coat of Arms set underneath a rising sun. Across the face of the Union Shield is a sword and the helmet of Pallas Athena. Athena is associated with the arts of war and her helmet represents wisdom and learning. Perched atop the shield is a bald eagle clutching a bundle of 13 arrows and a scroll. The scroll bears the academy's motto, "Duty, Honor, Country" and the words, "West Point, MDCCCII (1802) USMA. In front of the eagle's right wing is an oak branch signifying strength and on the left an olive branch signifying peace. [1][2]
    Laura Gardin Fraser's next work for the United States Military Academy was the 1957 Sylvanus Thayer medal. This medal exhibits a profile bust of Sylvanus Thayer on its obverse and the coat of arms on the reverse. The Sylvanus Thayer medal is awarded annually by the USMA Association of Graduates to an outstanding citizen who in service to America exemplifies the USMA values of duty, honor, and country. Sylvanus Thayer known as the "father of the Military Academy" served as the United States Military Academy's Superintendent from 1817 until 1833. Under his leadership the USMA became a pioneering engineering school whose graduates were largely responsible for the construction of the nations initial rail lines, bridges, harbors, and roads. [3][4]
    Laura Gardin Fraser once said that, "A sculptors life is measured in large chunks of time." Three 9x4 bronze relief panels chronicling almost five centuries of American history represents one of those large chunks of time in Mrs. Fraser's life. The following is quoted in an interview with Dean Krakel concerning the aforementioned panels, "I began this project making little vignettes of historical figures in clay. We seem to know so little about American history, and so having begun this in 1935, I began to accumulate an interesting collection. I started doing events from history and animals purely American like--the skunk. Then I started sorting and organizing my figures in chronological order, placing them on large tablets. These became like the leaves of a book. This essentially is how I started the project. For a long time I thought I was doing them for love of my country, as no one or institution seemed interested."
    Eventually, the United States Military Academy took an interest in Mrs. Fraser's panels and they were cast into bronze. Then finally in 1964 after nearly 30 years, they were unveiled at the dedication of the Academy's new library in the portico of the library's entrance. The first panel begins with the exploration of Leif Ericson and extends all the way through to the Declaration of Independence and Revolutionary War. The second panel includes westward expansion, the development of American political parties, and the Mexican, Civil, and Indian Wars. Panel three illustrates industrial development, modern inventions, labor unions, the depression, the World Wars, and the atomic bomb. [5]
    1 The United States Military Academy West Point, http://www.usma.edu/news/sitepages/coat %20of%20arms%20and%20motto.aspx
    2 Medal Commemorates West Point Sesquicentennial by Fred Reed 10/4/99, http:// www.pcgs.com/News/Medal-Commemorates-West-Point-Sesquicentennial
    3 The United States Military Academy West Point, http://www.usma.edu/wphistory/SitePages/ Home.aspx
    4 Wikipedia, https://en.wikipedia.org/wiki/Sylvanus_Thayer_Award
    5 End of the Trail, The Odyssey of a Statue by Dean Krakel

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  23. coinsbygary

    69's Full Of 70's

    By coinsbygary,

    The results of my 25th Anniversary SAE submissions are in, and I am nowhere near Kamakazy's royal flush.
    My 25th Anniversary SAE grades are in, and it is a full house, with the three mint-state coins grading MS-69 and the proofs grading PF-70. While I am a little disappointed with the overall results, I am ecstatic that the reverse proof is PF-70! Of the five coins in this set, the reverse proof is my favorite coin. The mirrored devices and frosty fields make for an extraordinarily beautiful coin that in my eyes stands head and shoulders above the rest.
    My fascination with coins struck in reverse proof started with the 20th Anniversary SAE. I remember receiving the US Mint's flyer in the mail and quickly dismissing it because I did not know exactly what a reverse proof coin was. Much later, having seen photographs of a 2006 reverse proof SAE, I regretted not purchasing it.
    Two years ago in an effort to make up for my mistake, I purchased a 2006 reverse proof 68 as a type coin. At that time, I recall that PF-70's were very expensive and even now, one sold in November for $546.25 at Heritage. For $169.00 my 68 was a very attractive alternative.
    Now fast-forward two years and I have a chance to upgrade the 2006 coin with a bonus of four additional coins for $300! For a month leading up to the 25th anniversary sale, I debated whether I would purchase a set at all, but as the purchase date approached, I was caught up in the hype. Therefore, with a renewal coupon to cash in for grading, I decided to purchase one set and take whatever grades I got.
    Obviously based on my perspective, purchasing and grading a 25th anniversary set has paid off. Only time will tell what the value of my coin will be, but consider this, the 2006 reverse proof with a mintage of 250,000 and a NGC population of 9,255 coins grading at PF-70 representing 19% of all the coins NGC has graded lists for $550 FMV. As you can see, the 2011 reverse proof with a mintage of 100,000 has a lot of potential for growth with very little, if any downside.
    In summary, while it would have been nice to have a royal flush, I think I can live with the grades I got. After all, a full house more often than not is the highest hand on the table. Additionally, for now, I think I will also hang on to my 2006. In closing, I hope that you are all happy with the grades you get, and I wish you the best.
    Gary
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  24. coinsbygary

    My Best Submission Yet

    By coinsbygary,

    It’s been a while since I posted about a submission I dreaded to send but finally mailed to NGC in June. As of August, NGC posted the grades of the last two coins of a nine-coin submission.
    This submission may have been the best I have ever sent. I divided the submission into four parts. The first is the WORLD-MODERN tier with three coins, followed by the WORLD-ECONOMY tier with two coins. Next is a single medal under the TOKEN-WORLD-VALUE tier, and finally, a three medal TOKEN-EARLY-BIRD tier to round out the submission.
    There was a twist in the WORLD-ECONOMY tier that I had not anticipated. The coin in question is a 1937 Spanish Second Republic peseta that I hoped would grade MS-63. Before NGC finalized the grade, they recommended that NCS should conserve the coin. The invoice they sent me was puzzling because they listed the grade of the coin at MS-64. However, because of my grading credits, I agreed to have this coin conserved that I originally purchased for only $8.00.
    Now, I would not have usually sent such an inexpensive coin in for grading, let alone conservation. However, this coin fits nicely into my Spanish peseta custom set. After conservation, the 1937 peseta received a final grade of MS-64+. The top-pop coin in the NGC census is MS-65. Considering the before and after pictures, I’m glad I gave my approval for NGC to conserve it. Now, an otherwise dull coin has come back to me, revealing spectacular luster.
    The other coin in my two-coin WORLD-ECONOMY tier is an 1869 Spanish 50-centime coin for my Spanish Provisional Government registry set. This coin is next to impossible to acquire in mint state condition. Good examples of raw circulated coins are also hard to come by on E-Bay. My hope for this coin was to have it graded VF-20. However, I knew this coin could go either way between F-15 and VF-20. I was thrilled when NGC graded the coin VF-20.
    I had been eyeing an MS-64 German medal for my seated imagery custom set on E-Bay for several years. However, in all those years, the seller never came down on his high asking price. Later, I bought a raw medal for approximately 40% less than the E-Bay medal in my watch list. After holding this piece for a couple of years, I finally sent it in to have it graded under the TOKEN-WORLD-VALUE tier. This medal came back to me graded at MS-65.
    My WORLD-MODERN submission features two coins for my Inspirational Ladies custom set and one for my Spanish peseta custom set. I had hoped for the 2001 Spanish 2000 peseta coin that I purchased to grade MS-65. Instead, I was delighted to get a top-pop grade of MS-68 for this beautifully toned coin.
    Late last year, I purchased a 2019 Great Britain “Una and the Lion” silver five-pound coin. Since I purchased this coin, the value of the coin has skyrocketed. Naturally, I had hoped for a PF-70 grade but realistically expected a PF-69. Unfortunately, I ended up with the expected PF-69 grade. Notwithstanding, this coin today is worth at least twice as much as what I paid for it. The last coin in this tier is a 1998 German 10-mark coin that received an expected grade of MS-64. Both these coins are currently residing in my Inspirational Ladies custom set.
    Rounding out my total submission is a three medal TOKEN-EARLY-BIRD tier. A while back, I lost an E-Bay auction for an “American Bar Association” medal for my Laura Gardin Fraser custom set. The biding had gone over $500 when I gave up. Shortly after that, I found another medal listed on E-Bay for a Buy-It-Now price of less than $100. The only caveat was that the seller thought the medal was a fake. I thought otherwise and quickly snapped it up. I was hoping for an MS-62 grade but figuratively did cartwheels when I got a fully authentic MS-64 grade.
    The other two medals are the silver “Society of Medalists #1” medal by Laura Gardin Fraser and the “Edmond H. Harriman Memorial Medal” by James Earle Fraser. Both of these medals I would have liked graded MS-67, but the “Society of Medalists” medal returned with a grade of MS-66. Incidentally, the “Society of Medalists” medal is a silver restrike of the bronze medal using the original dies, and it has a reported mintage of 125. Both these medals are now part of my Laura Gardin Fraser custom set.
    Overall, I couldn’t be happier, especially since there are no “details graded” coins and medals in the entire submission. Gary









  25. coinsbygary
    Reaching an important milestone for my collection and the coin that put me over the top.
    Greetings all, just three short months ago I wrote about possibly discontinuing my first-spouse collection. Now three months later I have a new perspective even though the price of gold has not significantly changed. First, I have a lot invested in this series already, and if I have the money to continue, I should. Next, I want to continue to add gold to my portfolio and these coins are a great way of doing it. Finally, the most recent issue is of Mary Todd Lincoln, so with the Lincoln commemorative of a year ago, this first spouse coin is the perfect complement.
    Using the aforementioned rational, I purchased the most current first-spouse gold coin. In doing so, I also crossed an important milestone for my collection as Mary Todd Lincoln put me over the 100,000-point barrier. Having ?arrived? at this point, I am beginning to wonder what the big deal is. The reason I collect coins is not for points, nor for competition. I have been a collector for most of my life and have only recently discovered the registry. However, I must admit that there is a bit of a competitive nature in my blood, but I have to ask myself, with whom am I competing.
    With more than 100,000 points, over 600 people are ahead of me, and I have little or no possibility of getting significantly higher. Even at that if I were to stop collecting coins, I would find myself slipping in rank due to others adding to their collections. With the exception of a few sets, I am in essence competing with myself, and points are the measure of that competition. If my goal is to acquire the best first-spouse coins possible, then I will be assembling a PFUC-70 set that just happens to be the number one set alongside other number one sets. The overall points are also a means for me to measure growth in my collection, rather than with who I am ahead or behind. In the end, I am happy to be over 100,000 points, but it is only a number and an indicator of the quality and number of coins in my collection. I cannot compete with most of the top sets in the registry, but points are an indicator of the best I can do.
    Overall, I feel that the concept of the registry is good for the hobby. NGC in awarding points for coins in registry sets encourages individual collectors to assemble the very best coins possible for their collections within their budgets. Additionally, high-grade and rare coins are preserved for future generations in NGC and PCGS holders, and assembled in sets. The registry is also a wonderful tool for collectors to help them stay focused on their collecting goals.
    Next year is almost here, and I am beginning to focus on my goals for the coming year. For the most part, my goals will be focused on the coins I will purchase rather than the points I will earn. Please enjoy my photo collage of Abe and Mary Todd Lincoln and have a Merry Christmas and a prosperous new year!
    Gary