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audrop

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Journal Entries posted by audrop

  1. audrop

    Did rfar go too far?

    By audrop,

    Is something amiss?
    Just wanted you to know, rfar, that I wrote to NGC expressing my displeasure with their removing your journal entries describing your 'experience' with a well-known auction house. How are we ever going to make this hobby more 'user friendly' if we are not allowed to make people aware of dealers, auction houses, and others who do not cater to us, the collectors, who keep them all in business? I enjoyed rfar's journal entries and appreciated the 'heads-up'. Rest assured I will not be using their services until I have proof they have changed the way they do business. I do not believe that we would be able to read this sort of thing in any other venue. Would Coin World or any other publication print an article of this type about one of their major advertisers? I think not! rfar has a well documented case, with plenty of evidence (dates, times, emails, etc.) to substantiate what he writes. I would be the first to acknowledge that a real problem could develope if anyone who had a misunderstanding or bad experience with someone in the coin collecting field started slanderously spreading rumors. I for one think this auction house should be given space for rebuttal. Thanks for your time and enjoy the pursuit.
  2. audrop

    Condolences to jayh749

    By audrop,

    Now you know what they mean by 'join the club'.
    When I first started on my epic journey of coin collecting, I thought all you had to do was invest a few hard-earned dollars and buy a nice looking coin in a slab, or if raw, send it into a grading company and wait for your 'prize' to be returned. It seems to me, after reading numerous journal entries, that all of us have experienced the same excitement (of buying a great looking coin), the same exhiliration (of submitting said coin for grading or cross-grading), and the same anticipation and anxiousness (waiting for our gem to be returned) and, sadly the reality that our judgement of value was not as accurate as we would have liked.
    In retrospect, this is one of the nuances of coin collecting that keeps me coming back for more. Don't allow yourself to get discouraged, although it's easy to do, but instead learn from the experience and move on knowing that it was a lesson learned. Just be thankful it was nothing more than money lost. I'm quite certain all of us have wasted money more than once on far more trivial pursuits than such a great and personally rewarding hobby. We have all been there, some of us more often than we like to admit, but I would not trade the opportunity to gather such fine, historic works of art "for all the tea in China". May your good experiences in this endeavor far exceed the bad.
  3. audrop
    More time than money...guess it could be worse!
    For those of you who have checked my registry you know that I am really into geneology (family history). I am trying to complete mint sets for my ancestors, those I knew and those who had left this life before I arrived. It is astounding to me how I can hold a coin from lets say 1898 and visions of my maternal grandfather pop into my head with so many fond memories. This is why I collect coins, (obviously I am not much of an investor), I value the history and the art in my hand, not some expectation of future value. Who knows who held this coin before I did, maybe a famous person, maybe even my grandfather or some other relative.
    Anyway, I sit here almost everyday surfing the internet looking for coins to fill my slots and then it hits me (you know like I could of had a V8 or something), if I had the money, I'd love to complete a set of Indian head cents, and a set of Buffalo nickels, and a set of ________ (fill in the blank)!
    Isn't this the greatest hobby ever? The thrill of the hunt, the anticipation of the buy, and then finally the exhilleration of the gem in your hand, even if it's only graded a vf20! I truly appreciate my fellow collectors who share their experiences through this common medium of some special happening in their collecting lives. Thank you all! Happy collecting!

  4. audrop
    I guess I misunderstood the term 'empty-nesters'!
    What's the big deal? I keep reading the horror stories from my compatriots here in the Collectors Society about hoping that their significant others don't find out about their addiction and its expense. As Alfred E. Newman used to say 'what me worry?' My take is: 1) you only live once, 2) Uncle Sam won't let us starve, and 3) who needs a house anyway? My wife is a nest-builder with the best of them and I admit it is nice to have a place for the kids and grandchildren to come visit but I really think home ownership is partly a real estate agents mantra to get you to buy into the 'pride of ownership' trap. It is quite obvious that we, as Americans, are spoiled rotten, have way too much money for our own good and have a real need (as Longfellow Deeds said in the classic movie) to 'get back to nature'. Now who in their right mind can argue with that? Also we need to take into account the scriptural reference stating that it is easier for a fully-loaded camel to get through the eye of the needle (a narrow gate entering Jerusalem) than it is for a rich man to get into the kingdom of heaven. Well, obviously I want to go to heaven so I am simply trying to make sure that my wife and I will be admitted when the time comes. With all this evidence in hand and the infallibility of my arguments, when I broach the subject to my 'better half', well, you know it's like talking to a brick wall. Is there no space for logic in the female brain or what? What is a man to do? I've got to run. Hope my wife doesn't find out about my latest acquisitions until after the house is repossessed. What do you think? Do I need help? Anyone know where I can buy a nice used tent? Happy collecting!!

  5. audrop
    No double-dipping
    No matter how many sets a particular coin is in you only get credit for the points once. It would be nice, in my opinion, if collectors would only start sets on the registry that they are or have been in the process of trying to complete. When I look at other collectors registry pages and find that they have numerous 'sets' with one or two coins and the same coins in a dozen sets it seems to me to be redundant.
    I appreciate NGC allowing me to register my PCGS coins in its registry but a wish they would add a stipulation that at least 50% of your total registry coins must be graded by NGC. There are a few sets I am aware of that every coin is in a PCGS slab and I believe those sets defeat the purpose of having an NGC registry. Suggestions anyone?

  6. audrop

    The Road of Life

    By audrop,

    You don't have to join the Marines to build character.
    Just want to add my words of encouragement to what jayh749 said. We all have our 'crosses' to bear and the biggest rainbows follow the biggest storms. Two sayings I remember well during my trials and tribulations. Look on the bright side, you really made a difference in the lives of those young basketball players. You are a true hero!! If you hadn't coached them who would have? All in all, it could have been worse: your wife might have stayed!!
  7. audrop

    Misunderstood

    By audrop,

    Let me try to set the record straight..
    After reading some of the journal entries in response to my 'Points, points, may I make a point?' I had to go back and read my journal entry again. No where in my entry could I find where I was discrediting a set with only one coin (every set starts with one coin!) I copied and than pasted my original entry into this journal so it would be word for word.
    My points:
    1) No matter how many sets a particular coin is in you only get credit for the points once. It would be nice, in my opinion, if collectors would only start sets on the registry that they are or have been in the process of trying to complete. When I look at other collectors registry pages and find that they have numerous 'sets' with one or two coins and the same coins in a dozen sets it seems to me to be redundant.
    Clarification: I have a 1921 mint set that I am trying to complete for my fathers' birth year. It started with zero coins! Let's see, it has 2 Lincoln cents, it has 2 Buffalo nickels, 2 Mercury dimes, a Standing Liberty 25c, 3 'Walkers', 3 Morgans, a Peace $, and a 'Saint'. I can start 8 sets!!!
    2) I appreciate NGC allowing me to register my PCGS coins in its registry but a wish they would add a stipulation that at least 50% of your total registry coins must be graded by NGC. There are a few sets I am aware of that every coin is in a PCGS slab and I believe those sets defeat the purpose of having an NGC registry.
    Clarification: Collectors who have complete sets of PCGS coins, in my opinion, should register those sets in the PCGS registry. NGC is quite generous in allowing PCGS coins in its registry making them truly the grading company for all collectors, especially 'the little guys' who buy the coin not the holder.
    3) I would never judge someones collection by point value or cost of coins, etc. After all it's their collection and they can display it in any form they want. Each of us has 'heart and soul' in our collections and share the passion. I have deeper pockets than some because I am retired and made some good investments along the way. I'm 59 years old and I'm sure that collectors like Revenant, who is probably in his early 20's will have a much nicer collection than mine when he gets to be my age.
    I hope you all the best in your lifes pusuits, and above all have some fun. Thanks for reading and sharing your thoughts.
  8. audrop

    GSA Morgans

    By audrop,

    Original packaging please!
    In response to Bully's musings, I would like to add my silver dollar. I prefer my CC Morgans in the original GSA package for the sake of authenticity and their historical value. I refuse to buy PCGS graded GSAs simply because they break them out of their original package. I have requested that NGC make a plastic storage box, much like their multi-holder box, that would hold 10 or better yet 11 (so an entire set would fit in 1 box) GSA original slabs, so far to no avail. Thanks for reading and happy collecting all!
  9. audrop

    Turn Around Times

    By audrop,

    Surely you must be kidding!
    As collectors we want our newly purchased coins in hand right now...we are an impatient lot. After careful consideration and reflection I hope NGC will ignore this latest round of complaints and just continue doing their job of accurately grading my coins. I think all would agree that having a fast turn-around time is not in the best interest of collectors. There are other TPG companies out there if you want your coins back in a day or two. Frankly, I take comfort in knowing that three different graders are evaluating my coin and I don't mind waiting rather than have them feel pressured to run my coin 'thru the mill'.
    If NGC was just trying to make money they could take shortcuts with the grading process and reduce turn around times and all would be happy, except the discerning collector who paid hard earned money for an honest evaluation. Hats off to NGC for resisting the temptation, for keeping their reputation in tact, providing us with a great registry to show off our coins, and this journal where we can share experiences, opinions, and the occasional complaint.
    Keep up the good work, NGC!
    Respectfully submitted,
    audrop
  10. audrop

    Buying Points

    By audrop,

    Is price per point an indication of future value?
    I recently acquired two coins; an 1893-CC Morgan dollar and a 2006-P Colorado state quarter. Comparing the two is a little like apples and oranges but I find the point values assigned by NGC to be skewed to the advantage of the modern coins.
    Coin Price Points $/Point
    1893-CC $5,100 2,786 $1.83
    2006-P $30 620 $.048
    As you can see, if your focus is to amass a large point total, then concentrate on modern issues where you get the most bang-for-the-buck(about 5 cents a point). Personally, I find modern issues to be ho-hum compared to the artistic issues of the past. Mind you, this is just an opinion, but give me a 'buffalo' nickel or a 'mercury' dime, in almost any condition, any day over a 'Jefferson' or a 'Roosevelt' in a high mint state. I should think by now the mint should be able to manufacture near perfect coins as a matter of routine.
    I am assuming that NGC registry point values were established some time ago and may not reflect the actual scarcity of a particular coin as of today, last week, or even last year but I think if you compare coins of the same era, the ones with the largest 'spread' of $/point have probably appreciated the most and more than likely will continue to outperform the market. Is this conjecture a stretch on my part or a total fabrication, i don't know. Would appreciate your thoughts. Thanks for reading and happy collecting all!

  11. audrop
    From the mouths of babes........
    It think it might be time for all of us to take a deep breath and reflect on 1) why we got involved in coin collecting 2) why we show off our collections to our peers and more specifically, 3) why we share our thoughts with others by making journal entries. The teaser refers to a journal entry by Noah Pardee, who just happens to be 9 years old and had to ask his father if he could join the registry and write a journal entry. Imagine his excitement as the whole world of numismatics is unfolding before his eyes. We can only hope that he doesn't read all of the journal entries posted and if he does that his father will continue to support his efforts and be able to explain the passion that some of us 'adults' have for our hobby.
    I think that it is important that all have a voice and that there will be differing opinions about everything we can post a journal about. Please try to keep it all in perspective and be civil and supportive of your fellow collectors. If that is too much to ask then I would suggest we all learn when to ignore certain posts that we disagree with. For the sake of the common good and especially the collectors just starting out we need to give them some positive feeling about the 'joys' of collecting.
    Personally, I'm having too much fun with my collection to let someone else ruin it for me. Collect what you want and do it the way you want and learn to ignore some of the 'noise' that might discourage your efforts. Above all....have fun! Enjoy collecting and thank God (or your lucky stars) that you have some disposable income to invest. Thanks for your time and good luck in your pursuit of happiness (coin collecting)!
  12. audrop
    Enough quarters to choke a horse.
    I wish someone would give serious thought to putting the National Parks on the obverse/reverse of the half with Theodore 'Teddy' Roosevelt on the other side. The larger size would allow for a bigger picture or even multiple pictures of the NPs and would finally get 'Teddy' on a coin where he belongs. His is the only 'mug' on Mt. Rushmore not to grace a circulating coin. Teddy was responsible for establishing our first NP at Yellowstone and was probably the first true environmentalist-politician.
    This is not an original idea on my part, I can't recall where I first heard of it, but it makes perfect sense to me. If you agree, write or call your members of Congress, let's get the coin rolling.
    Happy collecting all! Anyone heard from Clay recently?
    audrop
  13. audrop

    Economics 101

    By audrop,

    Collecting vs. Investing
    In my humble opinion the main difference between collecting and investing is that a collector collects whatever pleases HIM/HER, whereas an investor collects whatever will please THEM (other people). Investors tend to be a bit harder to satisfy and a bit more picky perhaps because they are trying to predict the value of a particular coin in the future (near term or distant).
    Investors will primarily stay with the tried and true; Morgan S$, Walking Liberty halves, 'Mercury' dimes, and Indian Head (Buffalo) nickels, to name a few. They will buy as nice a coin as their pocketbook will allow and part with it at any time they can make a nice profit, especially if they believe the market is too hot and due for a correction. It's all about supply and demand.
    Collectors, on the other hand, get taken in by the appearance of the bright, shiny, new coin from the U. S. Mint. Most collectors will not part with their prize possession (I guess you could pry it out of they're cold, dead hand) for almost any amount of money unless they know they can replace it for less than they're offered. Collectors also tend to buy a lower graded coin to fill a slot until something better comes along. Collectors don't see any reason to adhere to the Law of Supply and Demand because they are never going to sell, therefore they will pay astronomical prices for 'common' coins with high mintages. It is my belief that many of the new issues that collectors are buying at inflated prices in ms or pf 70 will take a real beating as more of these coins get graded.
    Law of Supply and Demand: when something, i.e. coins, tulips, etc., are believed to be scarce, demand goes up and correspondingly the price also rises. Dealers and investors send in more coins to be graded and the supply increases, demand falls, prices drop.
    All of us are probably a combination collector/investor and I'm certainly not saying one is better than the other. I am saying that the smart money is going into the truely RARE coins that will more than likely remain rare (unless another Redfield Hoard of 400,000 Morgan S$ shows up). A word of caution for all of us; check the mintages of a particular coin and the population reports of NGC and PCGS (the other TPG services probably don't matter), and remember that the pop. reports are probably 10-20% high due to re-submissions.
    I am not trying to do anything to anybody except be helpful from my perspective of 50+ years of collecting/investing. Take my advice or leave it, makes no difference to me, but PLEASE don't write some drivel saying 'that there is no use debating the difference between investing and collecting'. Thanks for your time and Happy Collecting or Investing or a little of both.
    I'm audrop and I approve this journal entry. Have a GREAT day!
  14. audrop

    Rare Coin University

    By audrop,

    Get your degree today!
    I don't normally plug a website in my journal entries but this is a real winner. Austin Rare Coins has a Rare Coin University that I believe will help anyone collecting coins to be more focused, know what to buy and when, and allow all of us to put our limited resources to our best use. This is not a plug to buy their coins, but I've found the info to be invaluable. I wish I'd read this before I started collecting/investing.
    I certainly hope this passes the test of what a journal entry is supposed to be. I'm putting it under the heading 'sharing collecting experiences and thoughts' or maybe 'sharing your knowledge with other investors'. Hope I've been a help.
    audrop