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coinsbygary

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Journal Entries posted by coinsbygary

  1. coinsbygary
    ?Hockey Stick Valuation? is a trend where a coin steadily increases in value through its grades before reaching a point at which its cost skyrockets. This abrupt and sharp increase in price resembles a ?Hockey Stick? when it is plotted on a graph.
    There are numerous numbers of coins that display a hockey stick rise in valuation. Among the common date Morgan Dollars, this typically occurs when a coin moves from MS-65 to 66 or MS-66 to 67. Population reports can be a good indicator as to which step this will most likely occur for a particular coin. For instance, the NGC population report lists an MS-65 1898-O Morgan Dollar at 11,433 coins, MS-66 at 1,742 coins, and MS-67 at 168 coins. The FMV for these coins is $238, $500, and $1,630 respectively. Since there is a good supply of MS-65 and 66 coins in the marketplace, there is only a somewhat modest rise in valuation from MS-65 to 66. However, the population of this coin in MS-67 is not only significantly lower, but it is also at a level that makes it scarce in the marketplace as reflected by its cost. With a population of one coin in MS-68, this coin is worth $28,130!
    Never have I found this trend more profound than in circulation grade Eisenhower Dollars. Each date and mint of this series appears to have a point at which the value of the coin steeply rises. Furthermore, because of poor production this occurs at lower MS levels, especially among copper-nickel Eisenhower Dollars. For Eisenhower Dollars grading MS-67, NGC lists just 94 coins and PCGS 70 in their respective population reports. Additionally, there are no MS-68 coins from either grading service. Silver-clad Eisenhower Dollars fare much better because of superior production and handling at the mint. Most silver-clad Eisenhower dollars can be purchased for a reasonable price in MS-68 condition. However, in MS-69 these coins are extremely rare with just 24 coins combined between NGC and PCGS. At this population level, they are worth thousands of dollars, with the 1972-S being the least valuable at $2,160 FMV.
    Among the silver IKEs, the 1971-S is somewhat of an anomaly. First off, this coin was struck in lower relief than the other silver dates. Furthermore, rather than shipping the coins to their distribution centers in tubes like every other year, they were shipped in 1,000 coin bags. This poor handling subjected them to numerous bag marks. Consequently, there are only three of these coins graded at MS-68 between NGC and PCGS giving the 1971-S MS-68 Eisenhower Dollar a FMV of $5,000! Fortunately, they are much more numerous in MS-67 condition thus allowing me to purchase a PCGS example for my collection. Even so, this coin is by far the most valuable coin of all the silver issues in MS-67 condition.
    I was also able to purchase a copper-nickel NGC MS-66 1978-D, Eisenhower Dollar through E-Bay and a NGC MS-64 1972 Type 2, Eisenhower Dollar through Teletrade. With an NGC population of 181, the 1978-D MS-66 dollar is worth $138 and with a population of two, the MS-67 dollar is worth $5,560! The 1972 Type 2 has a two-step increase. At MS-64 with a NGC population of 117 coins the 1972 Type 2 has a FMV of $275. At MS-65 and a population of 18 coins, the FMV increases to $1,880. Finally, at MS-66 with no NGC graded coins and just five PCGS graded coins the FMV chimes in at $15,630! Clearly, the 1972 Type 2 Eisenhower Dollar is the key coin in this series, and I am very happy to be able to own an MS-64 example.
    My goal for collecting Eisenhower Dollars is simple, and that is to tap my head gently on the glass ceiling without breaking through. In other words, I intend to collect the entire series one grade lower than the steep rise. In the end, this will still give me a high quality, somewhat affordable set. Then, after I finish this set, I may decide to upgrade my MS-67 1976-S to MS-68. Currently, an MS-67 coin is worth $47.50 and a MS-68 is worth $400. Otherwise, so far, so good! Until next time, happy collecting!
    Gary

  2. coinsbygary

    Holy ?Ikes? Batman!

    By coinsbygary,

    A large sum of E-Bay Bucks leads to a dilemma and windfall of Eisenhower Dollars.
    Greetings all, because of several large purchases on E-bay last quarter I amassed $242.37 in E-Bay Bucks. For more than a month, I planned to purchase a MS-68 1976-S Eisenhower Dollar to upgrade a MS-67. I had coins from two different sellers on my watch list and both were ?Buy it Now? listings. One coin listed for $439.00 and the other for $475. Originally, my hope was to subsidize the cost of an upgrade with E-Bay Bucks.
    My dilemma though is that a MS-68 1976-S ?Ike? has a FMV of $400, and I have a problem with buying an overpriced coin simply because the cost is subsidized. With about a month to decide, the seller with the $475 coin ran a sale on it for $418. Although the $418 coin was still a little high, it had a ?Best Offer? option, and I considered offering him $400 for the coin. However, shortly before the E-Bay Bucks award, his sale ended and the coin went back to $475.
    Then just three days before the award, I noticed a MS-68 coin on Great Collections for an opening bid of $330 including a 10% buyer?s fee. Unexpectedly delighted, I now had another choice. The question was, do I buy the $439 coin on E-Bay with my E-Bay Bucks and pay $197 or do I put a maximum bid on the Great Collections coin and pay as little as $133 more than the E-Bay listing minus the E-Bay Bucks subsidy. After some thought, I decided to take a chance and placed a maximum bid on the Great Collections coin. When the hammer went down Sunday evening, I found that I won the coin as the only bidder and at a cost that was 16.6% lower than FMV.
    Now Left with a large sum of freed-up E-Bay bucks, I bought three MS-66 Ikes Monday morning. Added to my collection were the 1977, 1974-D, and 1972-D Eisenhower Dollars with the 1972-D coming in at almost 50% FMV. The end cost to me for three very nice coins was $5.63! Even though this route cost me more, I am very pleased with the value I got. Furthermore, the 1976-S is a spectacular coin with lots of eye appeal.
    Starting a high quality Eisenhower Dollar set has also allowed me to upgrade up to four coins in each of my type sets that have Ikes. This has enhanced the quality and point values of each of these sets. A MS-68 1976-S Ike garners 1886 points for my type sets.
    Copper-Nickel Eisenhower dollars are rare in MS-67. However, the 1971-D comes in with a FMV of $880 and is the least expensive to collect. A month or so ago Heritage had a 1971-D up for auction. Confusing the FMV with the MS-66, I put in a maximum bid based on the value of the MS-66 coin. Later, I discovered my mistake and thought I could never win an $880 coin on my current budget, so I ignored the auction. To my surprise, the final hammer was half the FMV value and I could just kick myself over letting that one get away. Realizing now that I can get the coin much cheaper than FMV, I adjusted my goals to add a MS-67 1971-D Eisenhower Dollar into my collection. Remarkably though, there is a seller on E-Bay that has two of these gems as a ?Buy it Now? for $4000 each!
    On another note, thanks a thousand, ?Gary Golden Wilhelmina Guldens? hit a thousand views yesterday and as such is the first set in my collection to do so. Additionally, my 9-11 medals came back from the graders as a mixed bag. The West Point medal graded at PFUC-70, while the Philadelphia medal came in at PFUC-68. Generally, I have come to expect US Mint products to grade no less than 69, and I was left scratching my head. At any rate, in a side-by-side comparison, I cannot tell the difference. Oh well, for now, please enjoy the picture of my MS-68 Ike; I think you will agree that it is a beauty. Until next time, happy collecting.
    Gary

  3. coinsbygary
    What does the collecting community out there think of these changes? I think theyre a step in the right direction to truth in purchasing on E-Bay
    As coin collecting continues to grow and thrive on eBay, customers have told us time and again that knowing they can buy and sell with confidence is important. Well be updating eBays Stamps, currency, and coins policy to help foster that confidence--this update may impact your coin listings.
    Starting May 30, all new listings and relistings in coin categories will need to meet the following requirements:
    First, listings for coins will be allowed to include a numeric grade in their listing title or item description only if the coin grading company meets certain objective standards.* Coins that havent been graded by these companies will be considered raw or ungraded. Currently, eBay has determined that only the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) meet these standards.
    Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above.
    Good;Til Cancelled listings will have until June 30th to comply with the revised policy. Listings that dont comply by these dates will be ineligible for relist or renewal and will be removed.
    Weve heard from both buyers and sellers that theyd like to see more coins on eBay graded by companies who meet high standards. These new requirements are an important step toward meeting these marketplace demands. Take action now to ensure your listings comply with these new changes.
    As always, thank you for selling on eBay,
    eBay Selling Team
    *These standards will be posted on eBays website shortly.
    Sorry this didnt post on the boards (ARRGG) follow this link to respond. I still cant get a link to copy right (ARRRGGGG) frustrating computer stuff At any rate go to the NGC forum coins to respond.
  4. 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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  5. coinsbygary

    How Did I Get Here?

    By coinsbygary,

    Numismatics has always been an obsession with me. It’s either all in or all out. While I have been able to maintain an even keel on almost all my sets, it has not been easy as she goes with my new custom set, “The Beginning, Dependability, and End of the Spanish Peseta.”
    This year most of my custom sets have seen some activity including my Inspirational Ladies set with a new French coin commemorating Joan of Arc and a Fantasy Crown featuring, “The Three Graces.” All my sets have had aesthetic upgrades meaning new and reformatted pictures. Having more time to spend on coins is one of the benefits of being retired. Other big purchases this year have included the Apollo 11 commemoratives less the gold coin and two upgrades to my 7070 type-set. The most recent addition to my type-set just this week is a PCGS MS-64 1906 Barber Quarter with a green bean. 
    Trying to keep a promise to my wife, I have sold some of my doubles this year to buy the aforementioned coins. Interestingly, I have been pretty successful in keeping our household budget spreadsheet balanced. However, starting a new and unexpected set has sent me catapulting off into obsession oblivion! Thus, I think there should be a danger label with all coin sales, “Danger, Buying Coins Maybe Detrimental to Your Budget.” 
    All this begs to question, “How did I get here, and why the Spanish Peseta?” To get those answers, I need to go all the way back to 2013 and my seated imagery set. It was then that I discovered coins featuring Hispania in a seated position on the 1870 Spanish Provisional Government coins. While I only needed one of the copper coins and one of the silver coins, I thought it would be nice to collect them all. Today I only lack the two scarcest silver coins.
    I have held all these coins over the years without having the bulk of them entered into either a custom set or a registry set. As far as the registry set, none currently exists for these coins. That was until I sent an e-mail to NGC asking for a set a few weeks ago. NGC has responded and shortly there will be a set for my set-less Spanish Provisional Government coins. 
    Up until last September I couldn’t imagine myself being here today having completed a nice 16 coin Spanish peseta set complete with write-ups totaling over 10,000 words. That was until purely by chance I noticed an 1868 bronze 5-peseta pattern for auction on E-bay. I knew of these copper patterns and have always wanted one. As you all know, I won the auction, had it conserved, and graded at MS-63. This had the effect of striking a match in an oil refinery and I was off to the races.
    Now I had to have a so-called home for the Spanish Provisional Government coins in my collection and only intended for limited custom set of just those coins. That was until I was intrigued by the following paragraph on the Royal Spanish Mint’s website: “The currency is a faithful reflection of history. Within its small dimensions, all the coordinates of the moment in which it was coined are enclosed and are always an inexhaustible source of information. The aesthetic, political, religious conceptions and the economic situation of the people are indelibly reflected in these small metal discs. Therefore, the 134 years in which the peseta has spent in the economy of Spain have seen transcendental events happen in the conformation of what is now the life of the Spaniards. Kings, artists, and conquerors have passed through the hands of the citizens; The peseta has become a key piece of popular iconography: longed for, hated, idolized ... in short, the history of the peseta is, in large part, the history of Spanish men and women entering the modern world.”
    Wanting to capture the essence of that paragraph, I enthusiastically expanded my set and used the paragraph as a road-map for the write-ups. Having bought the coins I needed and read and re-read the many articles and pieces on Spanish history, I believe that I have met the set objective and now it is finished.
    There is another aspect about this set that is unlike any of my other custom sets and that is that I don’t have to buy any more coins for it. It is complete as a set. My other sets are more open-ended in that when I find a coin that meets the set objective, I add it, much like the coins for my Inspirational Ladies set. Of course, this means I’ll have to come down from my Spanish Peseta high. It is always nice to buy a lot of new coins. However, it’s a huge letdown when you’re done. I’m currently suffering from coin withdrawal. ):
    The following is a link to my completed custom set: https://coins.www.collectors-society.com/wcm/CoinCustomSetView.aspx?s=28027 
    Furthermore, I’m using a picture of my new Barber Quarter as my blog photo. Whew, now I can go out and blow leaves around   Gary

  6. coinsbygary

    I Am Honored

    By coinsbygary,

    Sometimes I have to pinch myself to make sure this is not a dream!
    It is hard for me to find the right words with which to express how I feel after discovering that I won the award for number 2 ?Best Presented Set? and the ?Journal Award? for 2009. Just imagine that, a ?Journal Award? winner at a loss for words as I am now, preposterous! The only thing that I can say is that I am honored and humbled.
    I am honored that ?Gary?s 20th Century Type Set? is counted as one of the five ?Best Presented? sets alongside the winners of the other major registry set categories. That a 15th ranked set is even mentioned in the same breath as the grand prize ?Morgan Dollar Proof Set? is truly amazing. This shows that the contest really is open to all, and that a little guy can be recognized alongside the big guys. Thank you NGC for seeing the worth in all the registry sets, regardless of their valuation.
    My main motivation for creating ?Gary?s 20th Century Type Set? is a love for coinage designs, history, and writing. Nevertheless, to say that winning an award was not continually in the back of my mind would be a lie. Therefore, while still surprised, I cannot say that winning the award was entirely unexpected. That said I am glad that VUMC409 won the top spot in our category because as evidenced in his recent post, he was ?un-expectantly? surprised. I know how that feels because I was ?un-expectantly? surprised last year with the ?Most Creative Signature Set Award?. Take it from me VUMC409; the plaque is a LOT nicer to hang on your wall than the certificate.
    I am humbled to be numbered with all the current and previous ?Journal Award? winners. I have personally benefited and enjoyed each and everyone?s contribution to journaling. Now I have a responsibility to continue in the highest intent and purpose of Collectors Society?s journaling blog. The icon by my name and journals will serve to me as a reminder when I have the urge to use journaling as a forum to vent.
    Finally, I am honored, humbled, and proud to be a member of the most vibrant collecting community in the world. Congratulations, to all the award winners this year!
    Gary
  7. coinsbygary

    I Am Honored

    By coinsbygary,

    Sorry folks no image this time! It just doesn't seem quite appropriate for this post. You see, today I have accidently discovered that one of my writings was linked on the website of a national humanitarian organization!
     
    I still have to pinch myself to see if this is really happening! This all started with my coin club asking for club members to give a presentation at some of our upcoming meetings. I thought it would be nice for me to do a presentation based on my Laura Gardin Fraser coin and medal collection and I went right to work on my power point presentation to be given at the next club meeting on May 8. I really enjoy my club and the opportunity I had to offer other members free imaging of their coins at a recent buy-sell-trade event. This upcoming presentation will give me the opportunity to share other aspects of my numismatic interests in research, writing, and collecting. If that goes well, I plan to apply for a "Money Talks" presentation of the same material at the Chicago "Worlds Fair of Money" later this summer.
     
    One of the medals in my presentation is the "National Institute of Social Sciences medal". The mission of the National Institute of Social Sciences is to "promote the study of the social sciences, to support social science research and discussion, and to honor individuals who have rendered distinguished service to humanity." The bronze medal in my collection was presented to Clara D Noyes to honor her for distinguished service to humanity. Though the bronze medal is no longer awarded, the gold medal is still awarded on an annual basis since 1913. Because the medal design has not changed and it appears prominently on the upper left hand corner of every page on the institute's website I thought to comment on the artistic numismatic legacy left to them by Laura Gardin Fraser. This led me to a page that described the medal. As I went down the page I noticed a few additional reading links, One of which curiously seemed familiar to me entitled, "A Beautiful Medal for a Worthy Recipient." I thought, no it can't be? Yes it can! The link directs you to an article I posted at NGC's collector's society on 4/14/17! How awesome is that! 
     
    In fact, I've been a collector for a very long time and no other set that I have ever put together has brought me more accolades than "The Coins and Medals of Laura Gardin Fraser." My contact network of medal collectors is phenomenal, especially considering that I am not a medal collector and that my network has sent me referrals, watched e-bay listings on my behalf, and gladly have shared information without which my LGF set would not have been possible. I've had three LGF articles published in the PAN publication, "The Clarion." In fact the post from the link that I am referring is in the October, 2017 issue of the Clarion! I've had cold contacts from authors wanting to publish my images, other people wanting to sell me their medals, and the family of Clara D Noyes that wants to buy my social sciences medal back! Incidentally, I have every intention of selling it back when I find another example for my collection. In return the family representative has sent me a signed copy of a biography he wrote about Clara! All these things do me great honor along with all of you who follow my blog posts. This has all been a surreal ride for me that brings new and amazing things my way. As I always say, "Who would have thunk it?" It has just been a wonderful ride that I would have never in a thousand years anticipated. I am indeed blessed!
     
    Here are two links to the National Institute of Social Sciences website. The first will take you to the main page and the second to the page with mu link.
    http://www.socialsciencesinstitute.org/
    http://www.socialsciencesinstitute.org/the-gold-medal
    Gary
  8. coinsbygary

    I Am Honored

    By coinsbygary,

    Before I get started, I want to congratulate all the winners of this years awards. That said I also want to thank all those who have congratulated me for the Most Informative Custom Set. Your kind comments mean more to me than you know. I also wish to thank the judges for recognizing my set among the 72,000 other sets in the Collectors Society Registry.
    The last time I won a major NGC award other than a journal award was a best-presented set award four years ago. At that time, I wrote a post entitled, I Am Honored. Now four years later, I am still honored but with a slightly different twist.
    This time is much different for me in that I feel honored to know many of the other award winners. For instance I know all three (RichH, VUMC409, and jgenn) of this years journal award winners. Each of them, on numerous occasions, has commented on my posts as I have on theirs. Congratulations guys, NGC could not have selected three more worthy journalists! Furthermore, I have the utmost respect for each of these people and their knowledge of numismatics. When they talk, I listen.
    Next, I know four of the five winners of the Best Presented awards, two of which I know closely and the other two from their occasional posts on the Collectors Society boards.
    JAA/USA Philippines Collection and coin928 have been very supportive of my collecting interests. I have appreciated their encouraging friendship and look forward to many more years of continued friendship with them. Additionally, when it comes to coins of the Philippines you will not find two people that are more knowledgeable then they are. Together, they are responsible for four major set awards and a journal award over the last two years. That is a quite an accomplishment and I congratulate them on their awards.
    I only know of SPHansen and Eagles-R-It from their occasional journal and message board posts. Their sets are impressive and worthy of the awards they have received, congratulations!
    Finally, they say a person is known by the company he or she keeps. Well Id say that I keep pretty good company here at Collectors Society and this is why I am honored and privileged.
    Gary
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  9. coinsbygary
    A few months ago, I purchased a Spanish Provisional Government 1868 5-peseta copper pattern from an E-Bay seller in Argentina. The listing picture wasn't too good and it seemed like the pattern was a little suspect. Still, this piece is scarce and I have wanted one for quite some time. If I could get it on the cheap, all the better. With what I thought was a fair bid, I won the piece for about half what I could expect to pay for a certified piece.
    When the pattern arrived, I was very happy with it except that there were areas of the piece with a tarlike sticky residue. The residue was trapped in some of the crevices, lettering, and knife edges of the piece. I knew that I wanted it certified and I decided to submit it to NCS for review, conservation, and grading. 
    I got my 5-peseta pattern back last week, conserved and graded MS-63. According to the population report, there was one MS-62, one MS-63, and two MS-64's. Add mine to it and its two MS-63's! Looking at my pattern in the hand, the overall look didn't show significant change except that it looked a lot sharper. The tar was successfully removed from the legend making the letters look much sharper. The knife-edges of the rim were clean and sharp only leaving a lightly stained surface with no pitting or metal corrosion. The real change was in the mountain area of Hispania's left elbow. Some of the other offensive toning was subdued but not removed. NCS states that they cannot reverse or remove copper toning. 
    I offer this pictorial evidence of before and after conservation. The before photo of the mountains is slightly out of focus but it shows the most significant changes. The mountains and in particular Hispania's fingers are clean and much more detailed. The crevices are all clean and sharp. In the hand it makes a tremendous difference. What detail, like it just came off the dies! 
    There is one more thing that I found quite interesting. Sometimes when digital cameras have either lighting or surface anomalies issues they can't focus correctly on the subject. In this case, if you look closely in the center of the before mountain picture, there is horizontal detail where there should be vertical detail like the mountains of the after picture. 
    I have used NCS on several occasions and in some instances, I have not liked the results. Over time I have become better in selecting candidates for conservation. This piece was a no-brainer for me and I am delighted with the results. Gary





  10. coinsbygary

    I Feel Your Pain

    By coinsbygary,

    Jackson I'm sorry about the loss of that very attractive 1947-D Walker, I know how you feel. I just recently fell prey to the "snooze ya loose" syndrome.
    I was eying an AU-53 1830 large cent for my type collection on a dealer's web site. The coin had great surfaces, a very strong strike, and for the life of me, I couldn't identify the rub that warranted an AU-53 grade. There was one draw back though and I hesitated. Asking for clarification to a small mark on the coins obverse I sent an e-mail to the dealer and before I knew it, the coin was gone.
    Really nice early coppers are hard to come by and I have been perusing hundreds of listings looking for just the right coin at a price I could afford. At any rate I'm still on the prowl, and kicking myself for letting that coin go.
    Shortly, thereafter I was looking through some e-bay listings for a bust half-cent to add to my type collection. I soon stumbled upon an XF-45 1806 half-cent with really crummy listing pictures. I put the coin on my watch list anyways and waited. Before the end of the listing, the seller put the coin on sale and with my e-bay bucks, I got it for a really nice price. The carrot that enticed me to take a chance on this coin was the sale.
    When the coin arrived I found that the coin looked very nice in hand with a strong strike and very little wear for an XF graded coin. However, when I went to photograph the coin I noticed all the little warts that circulated early coppers can have. Macro photography has one drawback and its that it catches everything on the coin's surface without discrimination!
    Well it didn't take me to long to get over those warts and I really fell in love with my coin! This coin on the heels of missing another coin made me at least temporally forget about the one I missed. Now I only think about it when I look for it's replacement!
    Oh, by the way, shortly after I bought the half-cent I discovered that the coin was recently auctioned by Stacks-Bowers. To my delight, I found that with the e-bay bucks I got the coin for less than the Stack-Bowers final hammer!
    Jackson, I know this one hurts but the perfect prescription to ease your heartache and disappointment is the next pristine coin that doesn't get away! I found my half-cent the perfect prescription for my loss!
    Gary

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  11. coinsbygary
    A long search finally yields for me the 1838 Hard-Times, Am I Not A Woman And A Sister Token.
    Ive been on the prowl for the Hard-Times, Am I Not A Woman And A Sister token for some time. After looking through numerous E-Bay listings over time, Ive finally bought an example I am happy with. Most of the tokens I rejected were problem tokens or had a weakly struck date on the reverse. Many more were of a lower grade than I was seeking, and all were raw until now. This token is problem free with wear and toning that is consistent with its VF-30 grade.
    The token was struck by Gibbs, Gardner & Company of Belleville, New Jersey in 1837 (dated 1838) during The Financial Panic of 1837. The token primarily circulated in New York and there are an estimated 500-1000 tokens that remain today. There is an accompanying, Am I Not A Man And A Brother token of which just three examples are known to exist.
    My token is a near copy of a late 18th century Conder Token which circulated in Great Britain before slavery was abolished there. Hoping to lay the groundwork for an abolitionist movement in the United States the design of the Conder Token was adapted for use here. In the Red Book Guide of United States Tokens and Medals it is suggested that this token was the inspiration for Sojourner Truths famous 1851 speech, Aint I a Woman. Since she lived in New York she was likely familiar with these tokens that generally circulated from 1838-1843.
    I have a lot of reasons for wanting this token, but the primary reason is that I have a good number of African-American friends, and I am trying to understand their perspective on American History as it pertains to slavery and race relations today. Therefore, this token will be the centerpiece of my research along with my 1860-O SS Republic shipwreck half-dollar. That ship laden with silver and gold was heading from New York to New Orleans when it sank in hurricane off the coast of Georgia. The money on board was intended by Northern investors to purchase land in the South during the re-construction period following the Civil War.
    When I look at this token, it is a somber reminder to me of a people stripped of their dignity and basic human rights. The inspiration of this token then is as a symbol in the never ending struggle and will to be free. Therefore, this token will be included in my Inspirational Ladies custom set.
    Gary

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  12. coinsbygary
    I am already finding the new ANA searchable database of The Numismatist quite useful in finding information I thought didnt exist or was lost.
    A few years ago I bought a three medal set of ANA convention medals enclosed in a plexiglass holder. The 1969 medals struck in bronze and silver commemorate the 78th annual convention of the ANA held in Philadelphia, Pa.
    The main attraction to these medals designed by US Mint Chief Engraver Frank Gasparro is the obverse rendition of Lady Liberty reminiscent of the 1781 Libertas Americana medal. Interestingly, the design of the 1969 ANA medals was to be a prototype for a new small-size dollar in 1979. However, Gasparros liberty cap design was overruled by Congress and President Jimmy Carter in favor of Susan B. Anthony. At that time I was a YN and I remember being very disappointed that Gasparros Liberty Cap design was not chosen. Thus, with no dollar coin to collect, I opted for the 1969 ANA convention medals instead.
    After I bought the medals I searched for any information I could find on them. This led me to check out a book from the ANAs library that I thought might shed a little light on the subject. Unfortunately, the information I found in the book was sparse and incomplete. With apparently nowhere else to look, I mailed the book back to the ANA and my search temporarily ended. That was until...
    ...Until the recent launch by the ANA of a searchable database for every issue of The Numismatist. Naturally, the first thing I did after signing up was to read Volume 1 Number 1. Then, I thought to give the database a trial run and I reopened my quest to find any pertinent information about the medals.
    My first search query, 1969 ANA medal returned too many links. Then I narrowed my search by adding the word convention and the number of links shrunk considerably. On about the third link I had my, Eureka, I found it moment! What I found was three pages (pages 973-975) of the June 1973 issue of The Numismatist with all the information I could ever want on my medals and then some!
    Another link returned a two-part article by David Lange chronicling how the Susan B. Anthony Dollar came about. Those articles are found in the 2010 January and February Issues of The Numismatist. For future reference, I found 93 references to Laura Gardin Fraser that will be very helpful in piecing together my new collection based on her work.
    Now without any further ado, May I present a small sampling of the information I gleaned from an article written by ANA historian, Neil Harris in the June 1973 issue of The Numismatist.
    There are three medals and two looped pendant badges that make up a complete set of 1969 ANA convention medals, and all of them were manufactured by the Medallic Art Co. of New York. The pendant badges are struck in bronze measuring 38 and 19 mm in quantities of 2,300 and 500 respectively. The 38 mm pendant is suspended by a ribbon to a gilt bordered name plate with a rear pin clasp. The 19 mm lady size pendant is suspended by a ribbon with a rear pin clasp. Each conventioneer received one or the other badges with their $3 registration fee. With a total convention registration of 7,722 I'm not quite sure how this worked out.
    Separate from the badges is a three medal set that includes a 38 and 19 mm bronze medal along with a 38 mm silver medal. The inscription on the edge of the 38 mm bronze and silver medals is that of the manufacturer, MEDALLIC ART CO. N.Y. along with the medals serial number (the serial number of my medals is 259). Furthermore, the edge of the silver medal has the inscription, .999+ PURE SILVER. The three medals are attractively housed inside a plexiglass holder with a ribbon swatch across the face. The mintage of the three medal set is 400 and the original issue price was $15.00.
    The obverse of the three medals portrays Frank Gasparros rendition of Lady Liberty likened to that of the Liberty Capped Half Cent of 1793 and the previously mentioned 1781 Libertas Americana medal. The Liberty Capped Half Cent was among the first coins produced by the newly opened 1792 Philadelphia Mint. Around the rim of the medal is thirteen stars representing the thirteen original states and the legend 1969 Annual Convention, Philadelphia.
    There are several reverse devices featured on this medal. The main central device is an eagle symbolic of the United States. In back of the eagle is the newly dedicated Philadelphia Mint with a glory radiating from behind it. To the right of the Philadelphia mint is Independence Hall located in Philadelphia representing our independence. Finally, the seal of The American Numismatic Association is just below Independence Hall and to the right of the eagle. The top rim features the legend 78th ANNIVERSARY while underneath the eagle on the bottom rim is the legend, AMERICAN NUMISMATIC ASSOCIATION.
    The fourth US Mint in Philadelphia was dedicated on August 14,1969 in conjunction with the 78th anniversary convention of the American Numismatic Association. The fourth mint can produce a million coins in thirty minutes while it took up to three years for the first mint to produce that many coins. Thus the theme of this medal with a representative device of Americas first coins on the obverse and the fourth mint surrounded by a glory and iconic images on the reverse shows the heritage and growth of coinage in America prospered by independence and freedom.
    In summary, I hope you find the ANAs searchable database of The Numismatist as useful as I have!
    Gary

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  13. coinsbygary
    What I can do to ensure that people have fewer "Postal Moments"!
    I think we have all had our own ?postal moments? at one time or another, and I am no exception. Some time ago, I bought a Britannia on E-Bay and the parcel arrived at my house in a timely manner. The only problem is it arrived empty! Stamped on the empty packaging was the following, ?received unsealed and received empty?. Whether my parcel was damaged on the post offices? sorting machines or the coin was stolen, I could only conjecture. All I knew was that my coin was lost. Fortunately, the seller refunded my money when I sent a picture of the package back to him. In my case, the incident turned out OK, albeit disappointing, however I felt bad for the seller.
    Often when things of this nature occur, I try to find the ?teachable moments? in them. While I cannot control how people package items they send to me, I can control how I package coins I sell.
    Because of the human element, I try to do what I can to protect myself. My first rule of thumb is that I try to avoid using bubble packaging. Have you ever noticed how flimsy the paper flap is on those things? If I use bubble packaging, I always reinforce that flap with nylon reinforced paper tape. In the case of my empty parcel, this had not been done. Instead of bubble packaging, I prefer to use a paper cushioned rugged mailer manufactured by a company called ?Caremail?. This envelope has no plastic in it and is manufactured with 95% recycled paper. A package of 25, 6 by 8 ?-inch ?Caremail? mailers can be purchased at Amazon.com for $14.49. Even with these, I paper tape seal the openings.
    If the parcel is not insured or registered, I seal the address with clear tape so that if the package gets wet, the ink does not run. Clear tape is prohibited on registered mail, so I make sure the address is bold and will not run. When I use mailing labels, I do not trust the adhesive on the labels, but reinforce it with clear tape. I always use labels on bubble packaging because if you ever noticed the ball point pen pokes through the paper. I also like to put an invoice with the recipients address inside the package with the coin to ensure the address is in more than one place.
    I always use delivery confirmation and insurance on items valued over $50. If an item is lost, tracking numbers such as these go a long way in located the lost item. For items under $50, I usually send them with delivery confirmation only.
    Had these steps to secure my purchase been followed, I may have my coin today. In the end, there is no way to eliminate the risk; however, you can minimize it. May all your coin purchases be delivered to you safe and secure!
    Gary
  14. coinsbygary
    ...And now I have it! A search encompassing a fair number of years has culminated with the purchase of an MS-61 1882-H Newfoundland $2 gold coin. This is like a dream come true from the first time I knew that this coin existed until now. FYI, I bought the book, "The Gold Coins of Newfoundland 1865-1888" shortly after it was published in 2017.

    In 1865 the Royal Mint began striking new coins exclusively for Newfoundland including a $2 gold coin for a then population of 122,631 people. You will notice the conversion values for this coin on the reverse of 200 cents/100 pence. This is related to Newfoundland's coinage being based on the British Pound well before Great Britain adopted the decimal  system for its currency. Thus there was 240 pence to the pound which converted to $4.80 in Newfoundland currency.

    The Newfoundland $2 gold coins were struck for circulation irregularly between 1865 and 1888 from a low mintage of 2,500 to a high mintage of 25,000. Incidentally my coin has a mintage of 25,000. The 1882 coin also has an H mintmark denoting that it was struck at the Heaton Mint in Birmingham. This coin was designed to be nearly equivalent to the American Gold Eagle which also circulated in Newfoundland. A US gold eagle contained 0.48375 ounces of gold while the 0.91666 fine Newfoundland $2 coin  had 0.0981 ounces of pure gold. Thus the Newfoundland $2 gold coin was worth $2.0277 US dollars. The diameter of the Newfoundland $2 coin is 17.983mm and the weight is 3.328 grams.

    I have been looking for a suitable yet affordable example of this coin for many years. My problem is that this coin is scarce and was popular as a circulating coin. Thus there are very few nice looking coins to be had. I had decided that if I was going to pay good money for this coin, I wanted it to look nice. With only a handful of MS-65 coins and steep prices for an MS-64 coin, I was looking for something in the AU-58 to MS-62 range. Without really looking too hard this coin popped up on e-bay with a best-offer option. I put forth my best offer and it was a sale. The gold toning on this coin gives it contrast. As such it is a very nice looking coin with lots of eye appeal. Gary

  15. coinsbygary
    The day I stop learning or wanting to learn is the day I need to do something else.
    I have enjoyed the many responses to my last post about an 1870 half-dime I recently purchased. I particularly liked the comments concerning the photographs I took of the coin. That said, I want to personally thank users wdrop, Walkerfan, and RWB for their input.
    There are many people on these boards whose opinions and experience I greatly respect. If they say people listen when EF Hutton speaks, I listen when the users on the Collectors Society boards speak.
    For one reason or another I have had a devil of a time photographing this coin. Listening to the users I already mentioned, I began to think that I could do better. With that I went to my old 5000 kelvin lamps and adjusted my white balance accordingly. I previously had my lights at a low angle relative to the coin. In the past I have had success with the lighting at this angle but not this time.
    This time I set both lights so that they pointed as straight to the coin as possible. This literally bathed my coin with light and I had to set my f-stop one step up from the previous setting of f4.5 to f5.6 and my ISO back to 100 from ISO 200.
    I must say that the results are phenomenal as the natural colors popped while at the same time the contrast remained sharp. I hope you like the latest version I am posting and I want to admonish you all, no matter what it is, to keep learning!
    Gary

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  16. coinsbygary
    Then buying the grade sight-unseen regardless of the plastic or the coin is especially bad! That said, I am embarrassed to admit that in my zeal to upgrade an XF-40 Indian-Head Eagle that I am guilty of doing just that.
    As a type collector, my main focus is to obtain the highest graded coins I can afford for a particular series. Thus very few, if any of the coins in my set are key dates or even semi-keys and most of the coins are quite common.
    With the price of gold currently down, I had determined to upgrade all my gold coins to MS-63 unless either my budget limited it or I was happy with the coin I already owned. Since I already owned an XF-40 Indian-Head Eagle, I deemed an MS-63 eagle an acceptable upgrade.
    1926 and 1932 Indian-Head Eagles are probably the most common dates in the entire series. Prices for these two coins grading MS-63 are quite reasonable. Furthermore, the population reports for both NGC and PCGS indicate that they are in good supply.
    This is the point where I made my first mistake. I should have researched each gold type separately to see if MS-63 was the best grade I could afford. If I had done my homework, I would have discovered that MS-64 is also an affordable grade for both the 1926 and 32 Indian-Head Eagle.
    In addition to not adequately researching the coin I wanted to buy, I was impatient. For those lacking patience, having a pocketbook flush with cash after just selling a few coins can sometimes result in rash purchases. When I was a young boy with money to spend in my pocket my mom oftentimes wisely remarked that the money was burning a hole in my pocket. As it turned out, there was no rush to buy another coin. Thus, what I should have done was to wait and cherry pick the MS-63 with the most eye appeal. After all, what is the hurry since there is such a good supply of coins.
    Rather, I went for the cheapest MS-63 I could find and that sight-unseen without returns. This proved fatal when the coin finally arrived and I was not entirely happy with it. Do not get me wrong, I am not disputing the grade, I am only saying that I did not like the coin. A word to the wise, stock listing pictures are always better and maybe higher graded than the coin you receive.
    To be more specific about the coin I bought, I found the luster on it to be flat and unattractive. Furthermore, I found numerous contact marks and deep cuts in places that distracted my eyes from the beauty of the coins devices. Again, not to dispute the grade but I think that those marks are common for the grade. Good research would have made me aware of this fact before I spent one red cent.
    Along with a lack of patience, I also have a cheap streak. Another word of advice, if you wanna be cheap you're in the wrong hobby. Rather, a person should focus on value. At times there is a fine line between the two and this time I fell on the wrong side.
    Moreover, impatient people typically refuse to invest the proper time needed to research the coins they would like to buy. You can only help yourself by researching the coin you want and the more time you spend doing this the more you help yourself.
    Dissatisfied with the coin I had, I continued to peruse E-Bay listings until I found a coin grading MS-64 CAC that I fell in love with. Though this coin would cost me $450-$500 more than the other coin, I did not think twice before I pulled the trigger on it. Yes, I ended up spending a lot of money that I did not need to, but at least I can probably sell the MS-63 at a profit when the price of gold goes back up. Otherwise, I might trade the MS-63 eagle for another coin that I like. In the end, I should have listened to my own advice and I hope that I won't be making this mistake again.
    From my side to side comparison you will easily see why I like the MS-64 so much better. The luster is robust, the contact marks are not as numerous, and the cuts are not nearly as deep. Clearly, I will never have to upgrade this coin and my goal will always remain to buy the best coin I can afford.
    Gary

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  17. coinsbygary
    It’s been a long time since I've written an original blog here. It's not that I didn't have anything new to say but that I've had other responsibilities and distractions getting in the way. However, behind the scenes, I have been accumulating bits and pieces of news about my Laura Gardin Fraser collection.
    The first big bit of news came to me in the form of an e-mail from my LGF go-to guy. It seems that my friend is moving and wanted to lighten his load. Then as I read further into the body of the e-mail, he went on to offer me ALL his research on Laura Gardin Fraser. I about fell off my chair. Are you kidding? Of course, I want it!
    Not long after that, the research arrived in the mail. It included several old editions of the National Geographic magazine featuring medals that LGF designed for them. On top of that, there were two large folders containing newspaper clippings, quotes, emails and other records that will prove invaluable to my research. Over the years, he has been very generous about sharing information with me and he is a good friend. I finally met him in person one year at the Central States show and took him out dinner. Now he has dinner for life anytime our paths cross again!
    The American Bar Association awards a Laura Gardin Fraser designed medal every year for, "Exceptionally distinguished service by a lawyer or lawyers to the cause of American jurisprudence." Awarded versions of this medal are next to impossible to come by and very expensive when available. I have several different Ebay searches set up and an unawarded version of this medal became available early in January.
    This medal is a gilded bronze version of the ABA gold medal. From the picture, it appears that the gilt did not uniformly take on the medal. I believe that this caused the seller to call this medal a fake in his description. My first thought was who would strike a 73mm medal that would have been more expensive to produce than the price the seller was asking? I ran this through my LGF go-to friend and he didn't think it was a fake either. With practically nothing to lose, I bought it for significantly less than I could expect to pay for an awarded medal. Now I'm going to submit this medal to NGC for authentication at some point in the near future.
    Next, for several months I've been tracking a 1970's silver restrike of Laura Gardin Fraser's 1930 inaugural issue of the Society of Medalists medallion on Ebay. Of a maximum mintage of 700, the 72mm, 7 ¼ ounces .999 silver medallion has a reported mintage of only 125. The listing for the medallion was a buy it now that I have seen go for less in other auctions.
    Finally, the seller sent me an offer to buy it for less than the BIN asking price. Even so, the medallion was still listed for more than I wanted to pay. However, he had the "make an offer" button highlighted and I sent him a fair offer. For several days he had not replied and I thought the offer expired. That was until I found an invoice for the medallion in my inbox and it was a sale.
    This all brings me to the last bit of news and the reason for the title of this blog. Recently I received an e-mail from so-called dollar dealer Jeff Shevlin about an item I had on his watchlist. In an effort to update his list, he wanted to know if I still wanted the so-called dollar he had for me on his watchlist. I replied that I already had the piece in question and that he should take it off the list.
    Just for curiosities sake I went through his inventory to see if he had anything else of interest and I found a medal commemorating the centennial of Oregon statehood. Interestingly, the reverse of that medal is a variation of the Conestoga Wagon obverse (US Mint definition) on the Oregon Trail Memorial Half-Dollar. Since this medal is related to my collection, I bought it.
    Naturally, the first thing I did was to research the medal I just bought and found a publication describing it on the Newman Numismatic Portal. Additionally, I found it has a mintage of 5000. My new 1959 gilded so-called dollar is also graded by NGC at MS-67. Besides James Earle Fraser's Society of Medalists 1952 issue #45 and a 1998 ANA convention medal I had not known of any other use of the Oregon Trail Conestoga wagon on other numismatic medals. That was until I found the medal I am writing about and another 2009 medal of the Pacific Northwest Numismatic Association for the spring ANA National Money Show in Portland.
    Now I will have to collect all the medals I am still missing, the 2009 PNNA medal and the 1998 107th ANA convention medal. To sum it up, so far according to my count there are four medallic variations on the Oregon Trail Memorial Half-Dollar. It would appear that good designs never go away but keep coming back for more.
    The links below are to the 1998 ANA convention medal from The Numismatist and the other is an article about my new purchase from the Newman Numismatic Portal. The pictures of the 1998 and 2009 medals are screenshots of the medals I do not own. Gary
    https://reader.exacteditions.com/issues/44218/spread/85
    https://archive.org/details/PNNAnews2013Q2/page/n9/mode/2up






  18. coinsbygary

    In the Mean Time...

    By coinsbygary,

    Well it’s been a long time since I last wrote. Retirement has kept me pretty busy at my church having delivered the morning sermon last Sunday and again tomorrow. With all that I am doing, I have a whole new appreciation of pastors. However, I’m not writing about my outside exploits today but my numismatic ones.


     
    You see while I have been busy with church activities, I have been amassing several new purchases along the way including a new book! I also served as kind of a consultant for a Coin World writer who is publishing an article about Laura Gardin Fraser in the next issue. Oh, and I will have to write about the podcast I recorded for Coin World that is still being edited. But today I’m writing about a Spanish provisional government pattern I got in the mail this week from an e-bay seller in of all places, Argentina.


     
    First the new book. I haven’t got it yet but it is on order from Wizard Coin Supply. The book is by Roger Burdette entitled, “Girl On The Silver Dollar.” It is Roger’s contention that the girl that graces the Morgan Dollar is not Anna Williams and I have long wanted to know why not.


     
    These are indeed exciting times and without further ado, let me get into the meat of my blog.


     
    After the 1868 ouster of Queen Isabella II from the throne in Spain came a new provisional government and new coinage. Without a royal on the throne these exciting new coins featured the feminine personification of Spain, Hispania. I started collecting these coins years ago for my seated imagery collection but it has been a rough go. Because most of the coins circulated very few of them survive today in MS condition. Fortunately, I have been able to purchase all the copper coins in MS condition but the silver coins are difficult and expensive to obtain in that condition. My highest grading silver coin is AU-53. I am still missing three of the silver coins in my collection and need a miracle to get the 20-Centimos silver coin with a mintage of 5000 and a survivability today much lower. However, I digress. Back to the point of toady’s blog.


     
    Since I am a guy who only started collecting these for their design, I wanted to have at least one coin with design features as crisp as if they were just struck. In this copper pattern I get all that and them some. The relief on the pattern is much higher and sharper than that on any of the coins, bar none! When I happened upon the e-bay listing by accident I couldn’t believe it. Because it was an overseas seller, I hesitated a little. When I saw that he had an excellent feedback percentage with over 11,000 replies I placed a reasonable snip bid on what is now the first pattern in my collection. I won the auction with a bid that is about half of what certified examples had sold for at Heritage.


     
    Still this pattern has a few drawbacks with some sort of foreign residue on the obverse and around the rims and lettering but most important NO mechanical damage. There does not appear to be any nicks or scratches in any of the fields! Yesterday, I sent my pattern off to NCS for conservation that I hope leads to a good grade.


     
    With that I am starting a new custom set over at Collectors Society entitled, “The Coinage of the Spanish Provisional Government.” It is populated with all the coins I currently own including my new purchase albeit in “want” status until it is graded. There is a lot of information I have collected and saved that I will have to shake the dust from but it all leads to a great start to a new set! If you look there is a rabbit at the feet of Hispania on the pattern that is not on any of the coins. This design feature goes all the way back to Hadrian and the Roman Empire but for now I can’t remember what the rabbit signifies. I digress again! You know I’m getting excited by all the rambling on!


     
    Thus, I will leave you with a link to my new set. https://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=28027


     
    Oh BTW, I’m also posting a Germania Mint medal I just purchased featuring you guessed it, “The Allegories.” Germania and Britannia are the first in the series. Germania and Columbia are next! This looks like it will be a pretty cool series of medals that I will want to collect. Gary  



  19. coinsbygary
    I must confess that of lately I have been focused on my web site and Coin of the Month posts. However, behind the scenes my collection has been quietly growing.
    Greetings all, in the area of web design I have come a long way in a short time. After coinsbygary.com launched, VUMC409 essentially turned the keys over to me for the sites future growth. I asked for VUMC409s advice about purchasing web design programs, but he suggested not wasting my money on expensive software packages like Adobe Dreamweaver. Rather I should do all my edits using of all programs, the lowly MS notepad. I did download a free simple editor though to help me figure out the file system and relationship of the .html and .css files. Amazingly, it all made sense, and I started cutting and pasting to expand my site. Of particular help is the website w3schools.com to explain html code. Check out the latest revisions to my site. I have created the file system and framework for all future expansions and have loaded all my Philadelphia Morgan Dollars under the heading Philadelphia Freedom.
    Naturally, with all these going-ons, I have not had the time to write of my latest acquisitions. Behind the scenes, I added to my Morgan Dollar set the 1879-CC capped and normal CC Morgan Dollars both grading F-12. In my Eisenhower set, I upgraded an NGC MS-66 1971-D to NGC MS-67, and added an NGC MS-65 1976 Type 1, and NGC MS-66 1973-D Eisenhower Dollar to come within one coin of completing the set.
    I am delighted to have obtained at a reasonable price a NGC MS-67 1971-D Eisenhower Dollar. Apart from mint-state silver issues, copper-nickel IKES are very rare in MS-67 condition. The entire copper-nickel Eisenhower Dollar series with millions of coins issued has just 173 coins grading MS-67 between both NGC and PCGS and none in MS-68. The 1971-D represented my best opportunity to own a rare Eisenhower dollar with an NGC population report of 42 coins. Regardless of how you feel about Eisenhower Dollars, you have to admit that it feels pretty good to own a true American rarity.
    An NGC VAM-3 1879-CC Capped Morgan Dollar is my first attributed VAM Morgan Dollar. The main diagnostic on the VAM 3 is a large over small CC mintmark, giving the appearance of caps on the mintmark. Other diagnostics commonly show the G in IN GOD WE TRUST filled, and strong doubling on the 1 and 8 in the coins date. In the picture attached to this post, I highlight all these diagnostics. In the past, I have not been particularly interested in VAMs, but I have to admit this coin is really cool. To fill the 1879-CC normal CC slot and complete the 1879-CC portion of my Morgan Dollar collection, I purchased a PCGS F-12 1879-CC Morgan Dollar.
    Until next time, happy collecting, and Happy St Patricks Day!
    Gary
    (PS, I will upload a larger pixel picture to the boards for you to see the detail on the capped CC Morgan Dollar.)

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  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
    I think I lost the desire to keep up with the First Spouse gold coins.
    Greetings all, many of you are aware that I have been collecting First Spouse gold coins. In the past, I have opined in my journals on strategies for collecting the entire series in PF-70 condition. The fact that these coins are gold, and they sprang out of a passion for my ?Inspirational Ladies? custom set has kept me buying these expensive coins. Although I did not buy these coins as an investment or hedge against inflation, those thoughts do cross my mind frequently these days. These reasons are not why I collect coins; in fact, they tend to taint my collecting passion.
    Another reason the time may have come to move on is the cost of running in the ?Golden Rat Race?. I recently purchased Buchanan?s Liberty for my collection and one week later the dealer raised the price by $30.00, good thing I got that coin when I did. When I started this series, the coins were selling for around $500 each, today they are getting close to twice that price. Another of those thoughts that props up every time I purchase one of these coins is, ?Is it worth it?? With my collecting passion returning to my ?classic coin roots?, First Spouse coins' drain resources that could be spent on 19th and 20th century classic coins. Furthermore, with the First Spouse series less than half way complete and the price of gold projected to hit $1500/oz the cost of continuing is daunting.
    Fortunately, there is a ?bronze? lining in this. With each new issue is an accompanying, nearly identical, bronze medal. In the event I discontinued collecting the gold coins, I purchased the bronze versions of the First Spouse coins. In spite of my waning passion to continue with the gold coins, I still love the designs and history behind the First Spouse coins, and these medals are an economical way to enjoy that history. Additionally, I purchased the Presidential dollar and First Spouse medal sets mounted in attractive cards from the mint. These sets are a wonderful way to collect the presidents with their spouses housed in the same packaging. Eventually, I will have the medals certified and in a registry set to.
    Another positive aspect is that this year I will achieve one of my stated goals. My goal has been to have the top rated First Spouse gold proof set. The next issue will be Mary Todd Lincoln, set to be released on December 2, 2010. With the registry cut-off date on December 10, there will not be enough time for the mint to deliver the coins and have them graded. Since my set is currently top rated, it will end top rated.
    In all this, there is also a golden lining. As my set currently stands, it represents eight ounces of pure gold. At $1300/oz plus numismatic value, that is quite a chunk of change. Even though I intend to keep the ?Classic Liberty? short set, I am still left with a healthy sum of cash with which to buy some nice 19th century coins. Since I do not currently need to sell the coins in my set, I can wait until gold hits $1500 to begin selling.
    With the next First Spouse release due in three months, I am in no hurry to make up my mind as to what direction to go. When it comes to collecting coins, I have a penchant for being fickle, and three months is a long time to think about it. Add to it, a little ?Gold Fever? and anything can happen. In the end though, I know I will have a collection that will bring me many hours of enjoyment.
    Gary

  22. coinsbygary
    Yes, I was finally able to rid my 7070 Type set of no-grades with three coins totaling 9 cents in face value. Those coins are an Eric P Newman pedigreed 1859 AU-58 Indian Head Cent, an 1853 MS-62 half-dime with arrows, and a 1861 MS-64 silver three-cent piece.
    For the better part of 2014, my 7070 typeset has been the primary focus of my new coin purchases. Of the 13 coins I purchased, there are seven new coins, two upgrades, and four details upgrades. Of course I made other purchases of note in 2014, but my passion has been for my typeset.
    Towards the end of last year, I decided to focus on buying quality coins in the highest grade I could reasonably afford. For instance, if all I could afford was a VF, I would set my sights on what I believed was a VF with nice eye appeal for the grade. Next, if I was going to buy attractive coins, it made no sense to display them with crummy pictures. Consequently, I set about to re-image most of my coins.
    At first, my plan was to complete the set, then go back and upgrade the no-grade coins. As a result, I purchased seven new coins for my set including a 1998-S SP-69 Kennedy Half-Dollar and an 1876 PF-62 CAMEO quarter-dollar. However, before long I just could not stand having three no-grades left to upgrade.
    At that, my priority shifted from completing the set to getting rid of the no-grades before moving on. Therefore, just last week I purchased the remaining nine cents in three separate purchases. Two of the coins I purchased were from e-bay sellers and the other from Heritage.
    In addition to coins with eye appeal, I try to look for coins with something unique. I found that extra something in an 1859 AU-58 CAC Indian Head Cent in that it is pedigreed to Edwin P Newman. Although I was looking for a coin in the MS-62 range, I thought this coin with a strong AU-58 grade gave me just about everything I would want in an MS-62.
    Recently, I was debating on whether to go with a lower grade 1851-O silver three-cent piece or a higher-grade type coin. I posed this question to NGC Collectors Society user RichH who collects silver three-cent pieces. He suggested that while the 1851-O is appealing, that I should go with a higher-grade coin. The two dates he suggested were 1861 and 1862 for their string strikes. With that, I bought an 1861 MS-64 silver three-cent piece that is just dripping with luster. Now what about that something unique, well I found it in the coins date as the year the Civil War began.
    Thank you Rich for your insightful advice, I now own a very attractive three-cent piece that I am never going to have to upgrade. A short time ago NGC Collectors Society user Jackson opined in a journal posting that he bought a coin, Just Because. I may yet buy that 1851-O silver three-cent piece Just Because.
    The last coin of the three is an 1853 MS-62 half-dime with arrows. Though I did not find this coin as attractive as the others, it displays clash marks that I have never seen before.
    Half-dimes are notorious for clashing but what makes this coin different is the tripling of the reverse bow around Libertys head. Perplexed at how this might occur, I posted the coin on the boards to see if someone could explain this. The answer seems to be that the dies rotated during subsequent clashings. Curiously, doubling from the obverse die also appears on the reverse.
    The last two coins are regular upgrades of existing coins. The first coin was a small-date 1837 AU-55 no-stars half-dime. In this coin, I have attractive toning, a strong strike with no distracting surface marks, and the original Gobrecht design without having to buy the very pricey dollar. In other words, this coin has everything.
    For one reason or another, I have found very few attractive Seated Liberty Dollars so you can imagine my excitement when I found that Just Right upgrade. That coin is an 1860-O XF-45 no-motto Seated Liberty Dollar with even toning and wear, and no distracting marks except for what appears to be a strike-through on the reverse.
    Next year my focus for this set will be early coppers. I expect that many of them will be no better than VF. The challenge then is to find coins with clean surfaces and an even strike. That will be a tall order, but I am up to it if I get coins I will never have to upgrade!
    Gary

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  23. coinsbygary
    The definition of passion is, ?The object of somebody?s intense interest or enthusiasm?, and suitably applies to my love for coin collecting among other things.
    Greetings all, my father always told me, ?If something is worth doing, to do it right the first time.? Consequently, whenever I put my mind to do something, I do it with passion. This applies to all areas of my life, up to, and including coin collecting. How else can I explain the expenditures and time I spend on this hobby? As an extra bonus, other things I am passionate about fit very well into my collecting hobby. For instance, I love writing and Collector?s Society provides a wonderful forum, whereas I can write about the hobby I love. Coins as mementos of American history allow me to research and express my love for history in my coins? owner descriptions. As a perfectionist with an obsessive personality, I am always striving to improve the photographs of my coins. Simply put, there are few aspects of coin collecting that I do not enjoy. In fact, if you cut me, sometimes I wonder if I would bleed silver and gold!
    The true test of passion though is over time, and with the passing of time, does it increase or decrease? Genuine passion increases over time as coin collecting has proven to be for me. However, if all there was to collecting coins was collecting coins; I would soon be bored.
    Coins are objects that can neither give affection nor receive it. Life is about relationships; relationships with God, family, friends, acquaintances, and whomever you come across in day-to-day living. For instance, if I could not share my collection with someone else, I would not enjoy this hobby as much as I do. In a matter of speaking, coins are a tool with which to establish and develop relationships with people of like minds. Your collections and journal posts serve to fuel my passion for collecting, and I pray that I have the same effect on you. The Thanksgiving and Christmas holidays cause me to reflect on how thankful I am to have you.
     
    When it comes to passion, there is an order in those things of which I am most passionate and first in importance, is my relationship with God. After my relationship with God is my relationship with my wife and kids, my friends and acquaintances, and so forth. When and if my coin collection takes the place of any of these relationships, it is then I need to step back from collecting. Unfortunately, there is no one in my family interested in coin collecting, so I must find other ?tools? to develop my relationships with them. What is encouraging though is that when I take steps towards them, they take steps towards me. I pray that you have a blessed holiday season with those who are most special in your life.
    Speaking of Christmas and passion, it is God, who passionately gave us the unimaginable gift of eternal life through Jesus Christ to all who believe in him. In the spirit and tradition of Christmas, the coin pictured below, from my ?Inspirational Ladies? custom set is an NCS XF details 1868 Bavarian 1 Taler that I purchased while I was living in Germany. The portrait on the reverse is that of Mary and the baby Jesus seated in the clouds. The obverse features a bust of the king of Bavaria, King Ludwig II. I hope you all have a Merry Christmas and a happy new year!
    Gary

  24. coinsbygary
    I was so impressed by Alan Lastufkas, Most Improved post that I thought it was high time I kick it in gear and improve upon a few images of my own. Thus, this post features an image upgrade of one of my all time favorite coins, the Austrian 1908 Franz Joseph I, 60th Anniversary of Reign 100 Corona.
    Every one of the images of this coin I photographed several years ago and at the time I considered them to be satisfactory. Nevertheless, what was satisfactory then is no longer so today, especially considering the quality of the pictures I take today. This left me with no choice but to re-mage many of the coins in my collection. However, before I get into the photography aspects of re-imaging this coin let me present a little background information.
    I bought this coin raw from a German dealer through E-Bay in 2008. Subsequently, I sent it to NCS to have it encapsulated. The coin received an AU-details grade for rim damage. However, since I bought this coin solely for its reverse design, I am glad that the rim damage is only visible from the obverse.
    When I purchased this coin the only way I could afford it was if it had a problem preventing it from obtaining a full grade. Recently, an AU details (hairlines) example of this coin sold through Heritage for just about four times what I paid for mine. Ergo today, I would be hard pressed to purchase this coin at all.
    Although I am working towards replacing most of the details graded coins in my collection, I have made an exception for coins like this one that are either very scarce or very expensive.
    Along the way I decided to encapsulate my coin in a NGC holder. When I got the coin back there was a splotch of dried glue on the surface of the holder. I should have returned the holder, but for some reason didnt. This became a real obstacle to re-imaging this coin because it would take a lot of time and effort to carefully remove the glue without permanently damaging the holder. Then theres always the hassle of retrieving the coin from the safe deposit box. Finally, Alans timely post became the straw that broke the camels back.
    With that, I decided that enough is enough and I retrieved the coin from the safe deposit box. Once I removed the glue I thought that re-imaging my coin would be a piece of cake. Unfortunately, nothing could have been further from the truth.
    I began by used three Jansjo lamps as my source of lighting. I placed them close to the camera lens and perpendicular to the coin about 120 degrees apart. Then I photographed the coin using three different f-stops and two different shutter speeds. In the end after all those samples, I could not find a single image that I was totally happy with. However, if these were the best images I was going to get, I decided to save the best of the worst.
    After that, I tried adjusting the angle of the Jansjo lighting in reference to the coin and the images got worse. Then I tried using diffused daylight lamps, but to no avail. Finally, I decided to throw in the towel.
    It was then that I felt the weight of the coin shift in its holder. I looked closer at the fingers holding the coin in place and noticed that the coins thickness was much thinner than the fingers holding it. Thus, I could shake the holder and alter the coins position. This meant that the lighting was perpendicular to the holder but NOT necessarily to the coin.
    Could this be the source of my frustration? The only way to find out was to photograph the coin one more time. I banged the holder on a flat surface to get the coin to rest flatly on one side of the fingers. Then, returning to my original lighting configuration, I shot two sets of pictures using different f-stops and the rest as they say is history. It is so amazing to me that a tilt of just a few millimeters can make all the difference in the world.
    After hundreds of hours working on my photography skills I learned that the learning never stops. That said, some things always seem consistent. First, my best shots are done with my original Jansjo lighting configuration. Next, if I am getting crumby pictures I need to look for another solution other than radically adjusting the lighting. Finally, the diffused daylight lamps are only good for narrow applications where a softer effect is desired.
    I hope that you enjoy my before and after shots including the best of the worst and the best of all. If re-imaging my coins wasnt fun, I wouldnt do it. However, having already paid for the coins and the photography gear, I consider this a very fun and inexpensive way to enjoy my coins.
    Gary

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  25. coinsbygary
    A journal entry that mislead me, but turned out well
    Today I saved $50.00 on a coin purchase because of a journal posted by Collector?s Society member ?davidricher? written yesterday. For those of you who read his journal, he stated that the mint would BEGIN shipping UHR?s April 24 and then only to those who placed orders on Jan 22. This afternoon I received an e-mail from the mint stating that they have begun to ship Feb 22 and expect to deliver UHR?s ordered between Jan 22 and Feb 23 BY April 24. I believe the information in the journal, though false, was an honest mistake. Based on the information in ?davidricher?s? journal I placed an order for one each, Elizabeth Monroe and Louisa Adams gold proof coins yesterday afternoon. Now you are probably wondering how I get from a journal entry on UHR?s to a first spouse order, let me explain.
    I do not have to tell anyone out there who has a 401K retirement account that the stock market is in the tank. I think I have lost 30 to 40 percent of my money in the past 6 months. I do not look at my statements for fear that I will get depressed, angry, or both. It will probably take a long time for me just to break even again. If you are a coin collector, I do not have to tell you that the price of gold is sharply rising either. The UHR I purchased on Jan 22 for $1189.00 now sells for $1339.00, $150 more than my order one month ago on Jan 22. If I continue to work and earn a decent salary in this current economy, I see a GOLDEN opportunity. Where else can I invest in a rising commodity and fuel my passion to collect coins at the same time during a poor economy? Now to be fair I do not buy coins primarily as an investment. I buy them for the enjoyment they bring me as a hobbyist. Unless I need to liquidate them to survive, I have no intention to sell them. Therefore, I will never realize a profit. With that said it feels nice to have my coins appreciate. If only I could move the money from my 401K to gold coins, but then again, how could I retire if I am not willing to sell? No, my strategy is to give investing in the stock market a break and take the extra money I earn and buy gold coins.
    Now, since my UHR order supposedly moved to April 24, and I did not have that charge on my credit card for the next billing cycle, I purchased the coins yesterday for $629 each. With the mint?s new pricing guidelines in place, the same coins listed today for $654 each, saving me $50! Generally, though, when I take a course of action based on incorrect information, things do not usually turn out well. Before I make a decision based on Collector?s Society journals, I need to verify the content of the journal, even though I believe them to be well intentioned. I still may be in trouble though, if the mint ships my UHR before the first week in March, I will see both charges on my credit card. I will have to deal with that when and if the time comes. For now ?davidricher?, if you are out there, thank you, because of your journal entry, I will get a better deal on two fine coins!