jgenn

It is so important to track the financial details of all coin purchases.  The US Internal Revenue Service has a category to handle the capital gains or losses of collectibles, such as coins.  You must be able to establish the cost basis for your collectible in order to calculate the gain or loss when you or your heirs sell. You are always required to declare gains, even from "hobby" profits. You do need to understand the regulations in order to claim losses, and with all the buyer and seller fees involved that you can claim in your cost basis you may need to claim a loss.

Your gold coin prize was wonderful but your wife's prize was way more interesting, in my opinion.  Congrats to you both!

Thank you for adding those details!  I only collect crown size coins so I tend to focus on those but of course all issues are of interest

Well your photos are as tiny as the actual coins, which helps explain why setting aside the proper space for full legends is difficult to do.

Yes, please continue to use the journal to post your valuable information on the coinage of Iceland.  Although you may not think there are many people that view the journals section of this site, your posts will be indexed by Google so anyone searching on keywords in your post should be able find it.

LOL that 2 is wearing a tiara from a leftover serif.  Great catch!

On 1/14/2022 at 10:21 AM, coinsbygary said:

Jack

There is something to be said for your winning set that does not include high grades and the lowest graded coin in Very-Fine condition being a Top-Pop. Congratulations on your Potosi Mint 8-reales set winning the Best Presented award.

Thank you Gary!  It is a rather humble set, compared to my Mexico City type set, for example.  However, I did make some effort to take decent photos and tried to write something of interest about each coin and where I acquired it from.  This is perhaps my one set where all of the coins were purchased and submitted as raw coins.  I appreciate that the NGC award selection team has broad criteria in their choices.

Congratulations, Chris!  I think the custom set awards are some of the most prestigious awards that NGC gives out.  Well done!

Another excellent post, Gary.  I have been toying with the idea of posting my ideas about why we don't have any great, new art on our current coins.  As you mentioned in your entry, the great artists taught the next generation.  Did Laura Gardin Fraser have any notable apprentices/students?

I like that photo!  You look relaxed and happy and the coin display in the background is an awesome touch. 

And you are so right that active collecting spurs my journal posting, too.

Good hunting with rebuilding your East German collection, Tom.

At F12 it's certainly no gem but the nice thing about this design is that there are no fine details that get lost with heavy circulation.

My attendance at the Fairfax Coin Club was spotty after the move from Reston to Vienna and went to zero during the pandemic.  I am hoping this year will be better.

For coins like these examples, that are legitimately scarce as well as conditionally rare, reasonable price is whatever you can afford.  It could be a decade or more for equally nice examples to appear on the market.. But who knows.  The only higher grade example (MS-63) of the ducato appeared just last year.

I had to upload photos with Edge because my preferred browser, Firefox, does not seem to be supported anymore.

I'm kind of a nerd when it comes to learning about the specifics of actual coin production.  Thanks for your comment!

Thank you all for your comments

One of the great things that I love about coins is the history you learn when you take the time to research the places and times.  In this case, I came across a nice article at the US State Department website on Italian reunification.  One paragraph was very enlightening in describing the political and social aftereffects of the conquests across Europe of Napoleon I.

"The period of French invasion and occupation was important in many ways. It introduced revolutionary ideas about government and society, resulting in an overthrow of the old established ruling orders and the destruction of the last vestiges of feudalism. The ideals of freedom and equality were very influential. Also of consequence, the concept of nationalism was introduced, thus sowing the seeds of Italian nationalism throughout most parts of the northern and central Italian peninsula. "

What a coincidence to have another journal post related to Gustav III of Sweden.  Thank you for an immensely informative article!  ~jack

"But she's the real MS70" 

Aww, how sweet!

Welcome to the Journals.  Those of us that have been here before had to adjust to a rather jarring change that the new format brought about. Best wishes on documenting your passion here.

 I started a bit later than you both, also a renewal of a childhood hobby.  It's never too late to re-discover a wonderful passion.

Yowza!  The top set, representing the angled setup, I think, are astounding!

Welcome to the Journals, Michael! 

It sounds like you are one of many coin collectors that like to collect current mint issues and that you are following in your great-grandfathers tradition.  Have you though about creating a year set from your great-grandfather's birth year?

~jack

There is nothing wrong with responsible estate planning.  I commend you for thinking ahead and committing to get the best value for your heirs by handling the eventual disposition of your collection yourself.

As for a home safe, I recommend a large gun safe that can be bolted to your basement floor.  The better ones have good fire resistance, too.

Ha, ha, that's some way to get attention.  I agree, the owner doesn't check email or no longer has that coin.

I have used Heritage "buy from owner" to sell several of my coins.  It works well for ones that you got at a good price, not so well for the rest.