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TMCGRADY

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Journal Entries posted by TMCGRADY

  1. TMCGRADY
    Submitted a 1982 for grading
    After submitting a 1982 to NGC I received the coin back and it was given the grade of MS65 with the triple die variety. When I initially looked at the coin i assumed it was a double die as i only glanced at it. After the grading I noticed the tripling that NGC saw under the #1 on the date. As I have stated previously, I am sure there will be more varieties in this series as more collectors start looking for them.
    Over the past 2 years here are the new varieties that have been discovered.
    1982 BU Double Die
    1988 BU Double Die
    1999 BU Mule of 2000
    1982 BU Triple Die
    1990 BU proof like
    1983 Proof Double Die
    Attached is a pic of some of the tripling on the 82 BU 1oz libertad.

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  2. TMCGRADY

    Coin World Magazine

    By TMCGRADY,

    Nice article in Coin Wold Magazine
    Coin World magazine did a nice article on some of the libertads in my registry set with a focus on some of the rarest libertads known. The article can be seen in the current issue (August edition). There is a mistake in the article regarding the 1998 triple die, it should be the 1983 proof triple die.
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  3. TMCGRADY
    Picked up a few over the past few years and now i am hooked.
    After attending the local coin show here in Richmond, i picked up a few more commems. Last year i picked up the 36 Connecticut since i attended grad school in Hatford and i used to ride my bike past the Charter Oak. Little did i know how much that single coin would cost and i was shocked. After the CT half i picked up a few of the texas commems because i really like the extreme detail on the coin. Fast foward 18 months later, while at the Richmond coin show i picked up the Dansco album for the 55 piece type set as well as a few coins at the show. Although most of these coins have mintages well under 10k amd as little at 2k, they are all readily available.
    The one thing i will say is you must be patient and do your research before buying any of these coins. Many sellers are way overpriced and there are a lot of counterfeits out there. When i find a coin worthy of a bid i take snapshots and do comparisons with graded coins looking for counterfeits. Bu doing this it really gives you a better idea of how the coin looks as well as pointing out inconsistencies. Every coin i ourchase i weigh them once received and to date i have only received one counterfeit, the seller was more than willing to make it right as he admitted to know nothing about them as he acquired it with other stuff from a rental unit.
    To date i only need the Hawaii and thw Spainish Trail to complete my Dansco album and i started the complete set in the 2 volume Dansco albums. These coins have amazing high relief detail and really show the artistic creativity of the day not to mention the long term investment potiental.
    Here is my advice.
    1. Be patient and dont buy using Buy it Now unless the coin is 20 to 30% below fair market value. Auctions are where the best deals are.
    2. Study each coin and do detailed comparisons with graded/authentic coins, this will help avoid counterfeits.
    3. After receiving the coins, weigh them, they should be in the 12.3 to 12.5 grams. The weight could be as low as 12.04 grams but that will be a very worn out slick. Anything higher or lower needs further testing. My brother wound up with 2 counterfeit halves one weighed 11.4 and the other weighed 14.04 grams. Both looked amazing nut they were fake.
    4. Never ever buy from Russia, China or for that matter oversees. These are where the counterfeits are coming from. Also ask yourself, wjat would someone in Russia, Lithuania pr China be doing with these? Not to say people oversee collect them, it is just too risky to buy from them.
    6. Only buy from those with perfect or almost perfect feedback.
    7. Really check out the pictures very well. There is one dealer that has great feedback with about 140k transactions. Their pictures look amazing and their RAW coins sell consistently at graded prices. I made my 1 and only purchase from this particular dealer as the pictures were fantastic only to discover they were all cleaned. The pictures they take do not show cleaning marks or hairlines. After this purchase i looked at their negative feedback only to see that most complaints were about their coins being cleaned. Learned lesson, even with the largest dealers you have to be careful.
    8. Read all negative feedback. Although some dealers with huge numbers of transactions may have negotiate feedback, read the feedback to see if there is a common complaint.
    9. Again, be patient and let the coin come to you. As you get started it will be very exciting as you learn about these rare coins so dont jump on each one as they come up.
    10. Dont be affraid to buy graded coins and worry about cranking them out for the dansco album. If you follow step #1 and get it at the right orice it will be ok to crack them out as they look so much better in the album. Dont get me wrong, some of the higher end graded coins will be better served in their holders.
    Tom
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  4. TMCGRADY
    Are we going to have to pay a ransom to dealers to stay out of your merchandise before shipping? Is Apmex starting a trend for other dealers to follow with their premium on top of the premiums for their "mint direct" products?
    I know this happens and i have heard of large dealers cherry picking through tubes of new releases for grading and shipping out the rejects but this is my first experience seeing myself. Last week i received my first 2 tubes of 2016 libertads with the intention of submitting a few for grsding and adding a 2016 MS70 to my registry set.
    Once the tubes arrived I looped all 50 and only 2 were worthy of submission for grading. A red flag went up immediately when I opened the first tube and the top coin was upside down. There was also a lighter type of masking tape material that was broken, i assume from the mint, and a new piece of tape, totaly difderent type, added over it. Not only was the first coin upside down but the rest were about 50/50 on how they were orientated.
    Over the years i have purchased many tubes for Eagles, libertads, maples, perth mint coins but this was a first. Needless to say i will never buy from JM bullion again. Are we soon going to have to pay a ransom to dealers like the added fees Apmex charges for their "mint direct" coins where they charge a premium to the customer for a guarantee on not cherry picking through your merchandise before shipping? If they are going to cherry pick, at least put them back in the tubes the right way.
    Looking at the grading for this year on the libertads it seems as though 70% are making it to MS70 with almost 1800 graded, wow. I was expecting at least 20 coins out of my 50 to select for grading, all i got were 2 out of 50, really?
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  5. TMCGRADY
    Here is how i rank the top 10 most difficult 1 OZ BU libertads to find based off my experience in collecting them as well as talking to other extremely knowledgeable collectors. Although some are rare like the 1998 with a mintage of just 67k, it is pretty easy to find but it's not scarce. Other coins with mintages of over 1 million can be be very scarce to find hence making them rare as well like the 1988 or 1989. The 1989 is extremely undervalued and finding a nice one in MS67 or MS68 is very rare. The 1988 is difficult to find in any condition.
     
    Due to the crazy low mintages year after year, one could say all these are rare to find. Putting a complete set together took me almost a year and with the newly added varieties discovered over the past year or so, finding all coins make this one of the most challenging modern coins to collect.
     
    One thing i do like about the Libertad is it is more numismatic than just bullion as most dates including the more recent years are not tied to the spot price of silver. If you want bullion that won't go down if the spot price does then the libertad is the way to go.#10. 2007 (200k minted but very scarce) #9. 1989 (scarce date) #8. 1987 DDO (mintage unknown)#7. 1998 (lowest mintage 67k Key Date)#6. 1991 Type 2 (actually a mule of the 1992)#5. 1988 in any condition (rare and scarce)The top 4 were all discovered in 2015#4. 1988 DDR (9 known - NGC & PCGS)#3. 1999 Mule (3 known - NGC & PCGS)#2. 1982 DDR (1 known)#1. 1990 PL (proof like 1 known)To see old comments for this Journal entry, click here. New comments can be added below.
  6. TMCGRADY
    3 new libertad varieties have been discovered in the past year.
    The libertad series began in 1982 and with the Panda series, its the longest running sovereign bullion program in the world.
    While most people take their purchases and just store them away wothout looking at them we have missed 3 huge varieties over the past 34 years. Early last year Dan from Connecticut discovered the 1999 mule where someone else took credit and a nice article was written in coin world magazine about it.
    Two months ago, my friend Dan discovered the 1988 Double Die. Right after his discovery, i found one, i was 2 months two late.
    About 6 months ago, I bought what i thought at first was a 1982 machine doubled libertad so i just kept put away. After learning more about different types of doubling I decided to reexamine it and submit it for grading as i was confident it was a true Double Die. Last week, NGC posted the grade and yes, the 3rd major variety within the past year is on the map, 1982 DDR.
    What makes the 1982 interesting is the fact it was the first year of issue and no one noticed it before.
    I bring this up because many of us have rolls and rolls of coins that are never looked at and there could be a hidden gem among them.
    The libertad series has been around for 34 years and to find new varieties of coins that have been around just as long means we should look at what we have a liile more closely.
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  7. TMCGRADY
    What a pleasant surprise, now the highest known grade.
    So far, this new 1988 DDR variety has 9 known and graded in all between PCGS and NGC. Until now the highest grade was 1 in MS66 by PCGS while others came in at MS64 and MS65. I received this coin raw from another libeterad collector friend who actually discovered the variety and submitted it for grading to NGC. We agreed that we would only agree to a price once it was graded. Having it come back as an MS67 was a nice surprise but then i realized that I would have to pay more now for the coin. Eventhough it was more than expected paying more was OK and now it replaced my MS64 88 DDR in my registery set. The MS64 was the first one graded by NGC and the MS67 was the second. There is a 3rd 88 DDR in the NGC pop that was a PCGS crossover and now resides in a NGC slab with a grade of MS65. All three of the mentioned are now in my possession within my registry sets. The 1988 is the toughest coin to find for the whole series and the Double Die will be even tougher.

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  8. TMCGRADY
    Just had NGC authenticate and grade the first one.
    This is another new variety i had NGC grade and it can back as MS66 DDR. This new double die is not as obvious as the 87 or 88 double die as the doubling is in the letter O for onza, the date and the word Mexico. One area that also stands out os the size of the angels left big toe, its huge. Once i get the coin back I will take some better pictures.

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  9. TMCGRADY
    Its not what you think.
    When it comes to describing the Obverse and Reverse of a coin, the libertad is not what you think. The mint in Mexico actually calls the obverse on the libertad the side where they put the eagle and snake, their coat of arms. The reverse of the libertad is actually the side of the coin depicting the winged angel. I bring this us because most collectors and graders have described the obverse and reverse backwards. The new 1988 DDR variety i just submitted to NGC is actually the first libertad graded as a DDR where the doubling is on the side of the coin with the winged angel.
    What makes the 1988 DDR interesting is the doubling is on the same side of the coin as the 1987 double die libertad. The 1987 DD has been given the attribute of DDO or Doubly Die Obverse and the 1988 DD has been given the correct attirubute of DDR or double die reverse. Since all 1987 DD's are graded incorrectly i dont think NGC is going to start giving the 1987 the DDR attribute on future submission as this would alter the accuracy of the population reports. Right now i have 10 1987 double dies with NGC for grading so it will be interesting to see the results.
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  10. TMCGRADY
    I submitted a 1982 1oz BU libertad to NGC for grading and it looks as though it may be a DD. The doubling is only in a small area by the word Onza but it appears as though its a real double die.
    A few months ago i received a 1982 Libertad and thought is was a real DD and not just another coin with bad machine doubling. I sat on it for a while and last week submitted it for grading. Because the doubling is small i couldn't capture a good pic of the area but it seems as though NGC is going to give the DDR attribute to the coin. I will update the official word on it in the next day or so.
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  11. TMCGRADY
    Had some extra coins.
    Decided not to sell the extra libertads i had from all the coins i submitted for grading and would start another set. Right now the set is missing the 1992, 2001, 2007 and 2008 as well as the 88 DDR. I do have two more 88 DDR's with NGC now and hopefully these will come back with good grades. The current set is in 5th position and i dont think it will go any higher.
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  12. TMCGRADY
    Just got the grade back from NGC and am a little disappointed.
    When submitting the 88 DD i was expecting an MS66 or MS67 but as you have it, it was graded only at MS64. I have submitted about 250 libertads to NGC and the lowest grade till now was only a few MS65's. I thought the coin was much nicer than an MS65 and was shocked to see MS64. Oh well, at least i can say its the first 1988 DD that NGC graded.
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  13. TMCGRADY
    Here is another pic.
    Before i submitted this i took several pictures but I can only add 1 pic to the journal entry so here is another. This picture shows the bottom of the coin as well as the mint mark (Mo). Needless to say, the doubling is much more extensive than any other DDO coin i have seen.

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  14. TMCGRADY
    New libertad variety discovered and authenticated by PCGS
    A fellow Libetad collector named Dan from Connecticut submitted 4 or 5 1988 DDO BU libertads to PCGS for grading and they all came back MS64, MS65 and 1 at MS66 DDO making this the latest variety for the libertad series. After speaking with him I went through all my 1988 libertads and found inhad one as well. Currently mine is with NGC for grading and this should be the 1st 1988 DDO to be graded by NGC. What makes this particular variety special is the fact that the 1988 is a difficult coin to find in itself but finding a 1988 DDO is even more difficult to find.
    The doubling on this variety is very interesting and even pretty extreme. The picture i have attached shows the doubling in the wing as well as the dental work around the rim and can be seen throughout the bottom of the coin on the date, the word mexico and the double dots next to the 999 as well as the 999. Hopefully I will get the coin grade next week as i out a rush on it with NGC.

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  15. TMCGRADY
    Over the weekend i was able to purchase 21 of 34 coins from a former #1 NGC registry set.
    On ebay i noticed a few high grade coins pop up at a great price so i decided that although I had them and most in higher grade i would purchase them. Since the earlier graded libertads have such low populations and you dont see them come up for sale very often, adding to my collection was a no brainer.
    As the day passed, i noticed there was a pattern to the selling as the owner started from oldest to newest. It was like clockwork, every few minutes the next one would pop up and i would buy it and so on. Then the holy grail years popped up, 1997 to 1999 all in MS68 and i hit buy it now immediately for each one. After trying to pay, it stated they were no longer available. I was shocked to find out there was another buyer that discovered what was happening.
    As the weekend passed, i reached out to the seller asking him to call me. Not only did i want to confirm this was real but i noticed on the Libertad 1 oz BU registry site that a former #1 set had disappeared and wondered if these coins belonged to that set. Late Sunday i did get a call from the owner and he confirmed the set and we talked for about 45 minutes. His decision to sell them was because of what he went through in caring for the loss of a family member and their assets. He did not want to leave his family with the responsibility of having to sell his collection and being in his late 70's decided to start taking care of it himself.
    Selling a collection or lightning up your load is something i think about every day. Although I am only 50, having something unexpected happen is a reality so i have been considering and even started to sell a small portion of what I have. Right now i am not supposed to be a buyer but this was an opportunity i could not pass up. I have always looked at collecting as not owning but being a custodian of coins. There will be a time that custodial possession must be passed on and making a decision as to when its time must be difficult.
    At the end of my call to the fellow collector, i felt i was saying goodbye to a long time friend. During our conversation i let him know how i felt blessed in being the new custodian of most of the coins that he spent 15 years collecting. I have no plans on selling any of them for a profit as they have been registered in my current sets where they will stay until its time to pass on custodial ownership to the next.
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  16. TMCGRADY
    Finally found one after a year of looking.
    Not only was i able to upgrade my 2011 MS69 to a MS70 but the person i acquired the MS70 from had 2 of them. Of course i purchased them both as this was the first time I had seen one as there have only been 7 graded in MS70 for the year.
    The search continues for the 1997 MS70 pop 2 and the 2010 MS70 pop 1.

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  17. TMCGRADY

    1986 Libertad DDO?

    By TMCGRADY,

    This was a false alarm.
    In searching through about 140 1986 1 oz bu libertads i noticed something strange on one. There appeared to be doubling on the top of the left hand and in several other areas of the coin. I went back through all the coins again and found 8 or 9 with the same exact doubling in the same areas. Unfortunately at the time i was not up to speed on the different types of doubling and submitted them to NGC as a new variety. After a little more education on doubling i called NGC to have those coins pulled from the grading process and was lucky that they were able to do so.
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  18. TMCGRADY
    Only 1 more coin to go then its complete.
    Since i had so many extra coins from submissions to NGC i decided to start another registry set. Although the first set took about a year to build and take over the top slot the 2nd set only took a few months. Today i just upgraded the 1986 from a MS65 to a MS67 and only need the 2007 to complete it. I do have a raw 2007 but i dont think it will grade well so i may just wait till the right one comes along. An MS67 for any of the 1980's is a strong grade as the top grade is MS67-68 for that stretch of time. There were no MS69 grades given to any BU 1 Onza's in the 80's.
    There is a part of me that wants to sell my 2nd set but the other part says no way. Currently the second set is sitting in the #4 rank and with a few upgrades should be able to take #3. I dont think the set will last long in the 3rd spot if it gets there as the current person has a very strong set and still has 5 open slots to fill.
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  19. TMCGRADY
    Just received my latest submission back from NGC.
    I was able to upgrade the 1995 MS68 to a MS69 on my #1 set and upgraded 4 coins on my #5 BU set.
    When i started putting together a BU libertad set i never thought it would be possible to hit the 13,000 point mark as the person holding the #1 slot had it for 5 years. As time goes on i will continue to look for coins to upgrade in the set as my goal is to have all coins in top known grades. As of now the set has 20 of the 35 coins in top grade. The biggest part of the challenge will be obtaining the 1997 MS70 and the 2010 MS70 as there are only 3 graded between those two years. There are a few other years where the top pop is only 1 or 2 so finding coins for submission is going to be very difficult.

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  20. TMCGRADY
    The libertad is a beautiful bullion coin with pros and cons.
    Compared to most other larger bullion programs, the Mexico mint makes a ridiculously low mintage series year over year. When looking at the silver eagle, maple, panda and Australia programs that mint anywhere from 8 to 45 million coins each year, the libertad mintages are around the 1 million mark. Last year the libertad mintage was only 420k and there are 12 years years where the mintages were lower than 500k. When looking at their proof silver as well as their gold BU and proof gold mintages, most years range from a few hundred toba few thousand. Last year i was lucky to pick up 20 1oz proof coins, mintage of 6400 or so, had them graded and 16 came back as PF70.
    The pros of having such low mintages are having a relatively scarce coin to collect as well as having a coin with huge potential to increase in value over time. The price has noticeably increased over the past year where i was buying them for pennies over spot. Today, some of the same years have doubled or tripled in price. A typical BU 1 oz from the 80s used to be 20 bucks, now depending on the year can go anywhere from 35 to 100 dollars. My first 87 DDO libertad i purchased over a year ago for 33 dollars, that same coin will run 60 to 80 dollars. Forget about the 1988 1oz BU, first they seem to be almost non existent but when they do come up be ready to pay 50 to 100 dollars. My favorite of the earlier years is the 1994 with a lower mintage of 400 thousand, this is one coin you still can pick up for 35 dollars, the only problem is they come up often. All the above coin prices are for raw only, if they are graded by NGC or PCGS then all bets are off as some years can run upwards of 1000 dollars in highest grade.
    I did the Richmond coin show last week and brought with me a large amount of raw and graded libertads to sell. Each customer was asked "what do you collect"? Anyone that responded with "everything" was shown the libertad. Most never saw one but most then bought one after learning more about them. Certainly as more people discover these the collector base will rise.
    There are some big disadvantages of having small mintages year over year. The most obvious is there not enough to go around and visibility of these are low. If people dont know about them then how could they collect them? Population reports for graded libertads are stupid low. There are 16 years where the total pop is 50 or lower for all grades. It wasn't till 2012 when there were over 1000 graded and those numbers have climbed each year since. Lastly, he libertad program started in 1982 making it one of the longest running programs in the world but, the strikes and handling for the first 15 years or so was less than marginal. The coins were allowed to abbraid with one another and the strikes on most were weak making it undesirable to collect.
    Bottom line, when having a low mintage bullion program, it can be great for the collector but also be its own worst enemy.
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  21. TMCGRADY
    If I knew how to upload more than 1 pic i would do it all in one post.
    Sorry for the multiple posts on this but here is another to show. Today the 6 coins I found with the same attributes and doubling in the same areas went off to NGC today.
    For the three pics I added in these three posts, all pictures show the same doubling.
    Your thoughts are appreciated.

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  22. TMCGRADY
    I am calling this the Brass Nuckles DDO
    Here is another pic of the new DDO. I will announce the year once NGC validates. All coins I have submitted show the same doubling.

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  23. TMCGRADY
    Went through a roll i just received from Canada.
    After going through a roll of libertads, one coin caught my eye. The left hand appeared to have a shadow and after flipping it around I noticed doubling. The wing of the libertad also had doubling as well as all the written words on the obverse like Mo, 1 Onza and the mountains. I decided to look back at all of the libertads I had for the same year and found a total of 6 coins with the same exact attributes. These were not the 1987 DDO but from a different year. I will be submitting these to NGC and will write more when they are graded.
    The pic attached is one area where the doubling is noticed.

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  24. TMCGRADY
    This is a one of a kind finding as it had me and others fooled.
    The 82 BU libertad i aquired has turned out to be more than just a proof like coin. After further study and research the coin may have been a specimen strike, not. When comparing it with other 1982 and early libertads it turns out there is nothing that is the same. Some of the differences on the obverse are the flow of the angles hair, her body, face, the dental work on the rim, the feathers, the font and the reverse is also very different. The details in areas are more defined but in other areas they are not. The strike of the coin is remarkable and even the spacing on the edge lettering is a little different although the font is almost the same. In speaking with Pat Stuvall and the dealer I bought it from seems to think it may be a specimen strike. The photo i attached is one of many closeups I took.
    As it turns out, NGC wrote a white paper on this coin in 2011 as it was a great fake made of 1 ounce of silver.

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  25. TMCGRADY

    New Libertad Variety?

    By TMCGRADY,

    There is a 1987 double die now there is a 1990 double die reverse.
    Ok, we its obvious I have a lot of 1oz libertads as well as some time on my hands. After going through about 140 libertads in the past few days this coin caught my attention. On the reverse you can see doubling on the letters as well as the wing, head of the eagle and snake. This will be going in for grading on my next submission with a new variety to be added to the series.

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