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MarkW

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Journal Entries posted by MarkW

  1. MarkW
    A year of victories, defeats, growth, and insanity
    I just passed 1 year of membership in NGC?s Collector?s society. Initially, I made journal entries on a fairly regular basis. While I have been a coin collector for over 45 years, my activity in the hobby would come and go. Occasional catalysts would crank up my interest for a short time and then finances or other ?real life? priorities would push numismatics to the ?back burner? for a time. I?ve had my collection on the ?front burner? now for a couple of years.
    My lifetime of coin collecting began with searching for the coins to fill an album of whatever set happened to be ?at the top of my list? on any given day. I think we all started out with a Whitman penny folder and expanded from there. My (our) beginnings in this hobby began with the daily search through Dad?s change for that one coin that could fill a hole in our folders. I remember bouncing from bank to bank purchasing rolls of pennies and nickels, searching those rolls, then returning a handful of change to one of those banks in exchange for more unsearched rolls. I?m sure that I am the reason for more than one 1960's bank teller?s nervous breakdown or early retirement. Those days of innocence and ?bank treasures? are now much scarcer. Numismatics now calls for research, knowledge, and considerably more outlay than it did then.
    Morgan Dollars had always been my favorite. These big, heavy, chunks of silver had grabbed my attention from the first time I held one. In the mid 60's, I purchased a roll for about twice face value. A few others came my way as gifts. In 1973, I purchased 3 more in the GSA auction. The seed was planted!
    Two years ago, two elderly aunts gave me some coins that had been stashed away in a drawer for a few years. These were not old coins, mostly U.S. proof, mint, and commemorative sets from the 1980's. Also included were mint and proof sets from other countries and a smattering of Morgans, buffaloes, assorted silver. Nothing of extreme value, BUT these additions to my stash triggered the desire (spelled ?N-E-E-D?) to get my rear in gear on my collection.
    This catalyst set me on the trail towards the goal of building a complete set of Morgan Dollars. I had a ?base? for the set built in my younger days, but this base still only comprised about 20% of the set. Ebay, Heritage, and other purchases finally filled my Dansco albums. Enough? Not yet!
    Then came NGC. Certified, slabbed examples were now the goal. Fueled by the desire to climb the ranks of the #1 collected coin in the NGC registry, my passion turned to a wild, no holds barred, fervor. My resources are not a bottomless pit. Completion of this goal was not sought without concern for my other financial responsibilities.
    On April 14, 2006, I reached the goal, set completed. Should I be happy that I?d completed this series, should I work to improve the set, or should I branch off into another series? I pondered my next numismatic goal and posted a journal entry declaring such. I received input from some of my fellow coin nuts that my position in the rankings was in jeopardy and that upgrading the set would be my best move.
    In the 6 months since my last journal entry and the completion of ?Poor Man?s Insanity? I?ve upgraded 40 of the 105 coins called for in the set. I?ve added over 20,000 points and managed to climb about 9 places in the rankings. The end is not in sight, although a slowing down is imminent.. Any upgrades now will call for significant expenditures. I?ll keep plugging away. While I?ll never climb much further up the rankings, I?ll still have a complete set of Morgans.
    One of these days, I?ll decide that I can do no more with my Morgan set and I?ll move on. Until I reach that day, I?ll sit surrounded by these beautiful silver discs and I?ll smile.
    Such is the joy of the coin collector. Whether one feels that he (or she) needs to improve an existing set or move on to another, there is always a road to take and a goal to conquer.
    P.S. I'm still waiting for my 20th anniversary Eagles. Pic is of 1879 O with electric blue highlights on obverse. A cool looking Morgan.
     
    [attachment=:name]
  2. MarkW
    Morgan Madness
    I?ve collected coins since the mid 50's when my mom gave me a few Indian Heads, 1 Flying Eagle, and a very worn 1868 2 cent piece. My interest in numismatics has had peaks and valleys since that time, but I still have those coins. I delivered newspapers between 1959 and 1965 and managed to salt away some silver halves even though part of me was fighting the ?saving? part.
    Eventually, I started to collect in earnest and Morgan Dollars became my favorite. These huge, silver discs enthralled me. I had purchased a roll of circulated Morgans in the 60's and bought 3 Carson City Morgans in the GSA auction of 1973. Not until 2004 did I really kick my Morgan fever into gear. Then, I was satisfied in assembling a set of raw Morgans into my Danscos. Upon completion of this raw set, the next step was a registry set.
    I?ve just reached the 4th anniversary of the completion of my Morgan Dollar registry set. In April of 2006 ?Poor Man?s Insanity? reached 100% with 60,964 points and a ranking of #36 of 550 sets. I had no idea that this would become an endless journey. Now, 4 years after completion, I?ve made 78 upgrades, added 54,632 points, and still maintain that 36th ranking. Although, as of today, that is among 2000 registered sets of Morgan Dollars at NGC. Am I trapped by this set? I don?t think so. I?ve had too much enjoyment striving to improve on its members. I have somewhat ?branched out? by working on VAM sets of Morgans.
    The attached pic should be a Morgan, but I felt it best to display that 1868 2 cent piece that my dear departed mother gave me that planted the seed of my current madness.

  3. MarkW
    Can't sleep
    It's 3:30 AM. Earlier I "dissed" some of my fellow CS members. I apologize for a rant that I never should have posted. My only excuse is stupidity. I'll continue to read all posted journal entries. Now, so that I don't have to put myself in my ignore list, I will post a short journal.
    My collecting bent is Morgan Dollars. I completed my registry set in 2006 ranking 36 of 485 sets. Now, over 50,000 points and 76 upgrades later, I rank 37th. There are, however, almost 1700 sets in the NGC registry. Upgrades now call for a larger expenditure than I can handle too often. I've expanded to Morgan VAMs and have begun to work on these sets of die varieties. The TOP 100 VAM set should satisfy my coin addiction for quite some time and most of these coins can be found rather inexpensively. There is a lot to learn about identifying these die varieties. I've attempted to image the specific pick up points of the pieces I've acquired. Attached photo is an 1888-O VAM 9 with doubled arrows on the reverse. Photo was taken with my digital camera with a loupe held in front of the lens. I would never had thought it would work until a Vammer suggested this tip.

  4. MarkW
    Perhaps
    It could be that I was somewhat terse in my last rant. Maybe I shouldn't have automatically eliminated most of those that had a certain letter in their name. My point was that this is a JOURNAL page, not a page that calls for any little thing you have. NGC offers us a chat page with chats concerning U. S. Coins, Numismatic Tangents, What you Need to Know, ETC. Maybe we should use it!
  5. MarkW
    How to eliminate the that some of our members think are "journals"
    To those of you that think any thoughts about coins or your collections are journals, please read the description of "journals". To those of you that have won "journal awards" in the past, please realize the definition of "journal". Most of the stuff that appears on the journals here belongs on the chat boards. My guess is that these posters do not even know that the chat boards even exist. Therefore, I have determined that "most" posters that have a "V" in their name or that prefer to bury their coins in PVC pipes belong in my "ignore" list. When I visit the JOURNALS, I expect to see journals.
  6. MarkW
    Fellow Morganmaniacs
    On December 14, 2007 the number of Morgan Dollar sets in the NGC registry reached 1000. It is amazing to see the number of registered collectors of these huge chunks of silver reach this milestone. For a set requiring 105 coins ( only 3 of which are less than 103 years old ) to gain 1000 followers is quite amazing.
    The only set with a higher number of registered sets is Silver Eagles. The Silver Eagle set requires 25 coins ( currently ) and holds no coin over 21 years old.
    I?m not knocking the Silver Eagles. They are a beautiful coin and I?m working on a set, however, their real beauty is only because they are based on a coin designed for release in 1916.
    Can?t our mint come up with a new design that can capture the eye and the heart of the American numismatist?
    Pic is the newest addition to my Morgan set which I haven?t registered yet. I?ve been waiting 2 weeks for delivery of this 1893 MS63 because the seller ?overlooked? my purchase. NICE!!!

  7. MarkW
    It's renewal time again with NGC.
    Another year of ?numismania? has quickly slipped by with only slight ?branching out? from my main interest (Morgan dollars). Upgrades to my Morgan set have grown into large investments, thereby making changes few and far between. The looseleaf binder shown in my February ?07 journal entry has had only 11 pages replaced with upgraded coins. I?m still constantly checking Ebay, Teletrade, Heritage, and elsewhere for the few ?affordable? upgrades I can still hope to obtain, but these coins do not crop up too often. When they do, they usually command a premium over Numismedia values. I can be patient. They will eventually come along.
    The slight ?branching out? is the diversion created by beginning an 1894 Mint set. My Morgans gave me the start and the search for the rest of the set forces me to look at coins other than silver dollars.
    Like most coin collectors, I also pick up annual sets from the U.S. Mint, although the government seems to produce an ever increasing variety every year. Even though all coins were at one time modern, I just can?t become enamored with moderns.
    Some of these mint issues get stashed away and some go as gifts to the young people in whom I?ve tried to plant the seeds of numismatics. I?m happy to note that some of those seeds have taken root.
    These past 2 years of building ?Poor Man?s Insanity? have been a learning experience. I?ve taught myself to rein in my zealousness when in pursuit of that ?special? coin. I no longer (or
    at least very rarely) allow my desire to overcome common sense or my wallet during the final moments of an auction. Many Morgan dollars actually have a lower ?book? than they did a year ago and updated research is necessary before any purchase.
    Two years ago, when this quest became serious, NGC had about 350 registered sets of Morgans. That number is now over 900, truly a testament to the enjoyment NGC?s members find in these heavy silver discs.
    The attached picture is one of my favorite Morgans. One of 15 in this set that is graded below MS60, this 1893 Carson City coin is graded by NGC as XF 40 and has the look I love, dark, slightly worn. This coin paid its dues as a circulating part of our economy over a century ago. I can ?feel? the history each time I hold it. Perhaps my viewpoint would be different had I the funds to fill this slot with an MS64. ;-)
    Good luck and successful collecting.

  8. MarkW
    Journal?
    As any one who has read any of my journals over the past couple of years knows, my collecting priorities lie in Morgan Dollars. Since completion of my Morgan set in April of 2006, I?ve added over 36,000 points and I?ve managed to drop only one notch in the rankings. Approximately $20,000 and one less position. SMOOTH! I?m not upset. My set is much higher quality than it was 15 months ago. However, I seem to be swimming upstream against an ever increasing current.
    WARNING!! Journal Tangent!!
    I finally managed to come up with an 1894-O Morgan in MS60. Not as high a grade as I would like, but, a good step up from my AU53. This coin served 2 purposes. It helped my Morgan set, and, it helped my 1894 mint set. A ?two for one? that I was glad to acquire.
    BACK TO JOURNAL!
    For comparison, at completion 4/13/06, 9 of the 105 coins required for the set were MS65. Now, 15 are at MS65 with 26 graded higher. I don?t know how much longer I can keep this up, but attempts at upgrades will probably never cease. Certain dates will forever be below MS in my set. I don?t have any relatives rich enough to ?will? me an 1893-S, 1895-O, 1895-S, or 1884-S in MS.
    By the way, ?Poor Man?s Insanity? has been fully imaged and now has a description or comment on each entry.
    I still feel the thrill of receiving a package from Heritage, Teletrade, or some Ebay seller whenever it happens and I hope that excitement never diminishes. This hobby creates a joy that is constantly refreshing.
    ANOTHER TANGENT!
    In checking ?Most Viewed? in Morgan sets, I?ve noticed a set with over 800 views that is an ?obscured? set. Who looks at invisible sets? Why would anybody who wants a set recognized be afraid to show the contents of that set? Who knows if that set even exists? BOYCOTT obscured sets.
    LAST TANGENT!
    This forum is set up for ?Collector?s Journals?.
    PS.
    Hey Coop, I hope I made you proud.

  9. MarkW
    Saturday night and I'm writing a JOURNAL entry.
    It?s been 4 months since my last entry. In that entry I mentioned upgrades to my Morgan Dollar set. I also stated that the torrid coin buying pace I had been setting must slow down. I have upgraded 7 more members of the set, but I have not bought a coin for a month. That is, of course, if I don?t count a couple rolls of GW$. BTW, the rolls here were in rough shape also. The withdrawal symptoms are getting a little rough. Hence, I?m writing this instead of spending money on eBay.
    Back to the journal. Upon completion of my Morgan set back in April of ?06, I posted a journal regarding upgrading or moving on. Fellow collectors helped me decide to upgrade. It really was an easy decision.
    At that time my set was ranked 36th of 550 sets and totaled 60,000 points. Here we are 10 months, 49 upgrades, 32,000 points, and thousands of dollars later and my current rank is......36.
    Disappointed? Nah! There are now over 750 Morgan sets in the registry and I?ve enjoyed tremendously watching my brethren build those sets. I do wish, however, that more collectors would include images. When one of my ?competitors? pops a 2000 point Morgan into his or her set, I?d love to get a look.
    During this last month of ?abstinence?, I still get my ?fix? by surfing into this website or looking at my coins. I, like many, don?t have immediate access to my more valuable coins. I?ve compiled a loose leaf copy of my complete Morgan set. That?s 105 coins, 210 pages with obverse and reverse images of each coin on card stock and a printout of NGC?s census report printed on standard copier paper. I hope I?m not infringing on any copyright laws by printing NGC?s census. I can just remove any pages as I find replacements. Now my set is instantly accessible. I can easily show a friend or fellow collector any coin in the set. This project cost considerably less than any upgrade that may have tempted me. I also included copies of my journal entries.
    Pic is my ?home? journal. The Morgan is my first MS67 (but not my last).

  10. MarkW
    Images, folks!
    Matched ?TheCoinGuy?. While my sets do not reach the scope of TheCoinGuy, I too have finished imaging my sets in the registry. Much experimentation with a new digital camera was necessary and I?m sure I can improve on some of my photos. But, like TheCoinGuy, step one is complete. We coin nuts should be able to enjoy each other?s sets. Come on folks, image those sets.
    [attachment=:name]
  11. MarkW
    ??
    In my April journal entry I mulled my options about what step to take in my numismatic quest. I had completed my Morgan Dollar registry set and, knowing I could never climb much higher in the ranks, was undecided in whether to upgrade or move on to another goal. I decided to work on upgrading those coins that wouldn't rush me to the Poor House. I've managed to slide a few coins up a grade or two. However, I've hit a snag. I recently purchased a nice 1885 NGC MS66 to replace a very nice PCGS MS64. Upon trying to register this coin, I found that NGC would not recognize the certification number. The seller had this and other Morgans certified on the same invoice and those others checked out fine when checked through certification verification. I've contacted NGC and the seller and have not received any replies as of yet. Has anyone else out there run into this problem and how has it been resolved? Attached is the info retrieved from NGC and a photo of the slab.

  12. MarkW
    What Next?
    The acquisition of an 1895-S Morgan in XF40 completes my registry set of Morgan Dollars. Currently, the lowest ranked 100% set of Morgans at #36. This number is not too bad considering the fact that Morgan Dollars are the #1 collected set at over 550 registered.
    I?m in somewhat of a quandary as to my next numismatic adventure. If this set remains untouched, I know that this ranking will only slip further down the list as time passes. I don?t have the funds to ever climb much higher than this position.
    I could peck away at upgrades a little at a time, or I could feel satisfied that I?ve invested in a set that I can be proud of. The Morgans that most need upgrades, however, are the ones I can least afford to upgrade. A ?Catch 22". My ?coin money? has dwindled considerably in the past year.
    If I move on to another registry set, it must be one I can complete at far less cost than this first set.
    Recent posts have shown me Bammer?s Wild West Signature Set. Nice idea with some beautiful coins. (Get those images up, Bammer, I?d love to see more of that set.) TheCoinGuy has tailored his collection down to almost 80 coins (Keying in on his current wants). We?re all different in our collecting techniques and we should do whatever makes fully enjoy this hobby.
    I?ve always strived to complete a set before moving on, in my ?raw? sets and now in my certified set.
    I guess the question I must ask myself here is; Is this set complete?
    PS. The attached pic is just one of the final few added to this set.
    [attachment=:name]
  13. MarkW
    Live and Learn!
    In some of my previous journal entries, I?ve done my share of beefing about the long wait only to receive ?body bags? containing coins that wouldn?t grade. My ?contributions? to NGC have paid for a lunch or two in Sarasota. When I joined The Collector?s Society last fall, I was new to the ?graded, slabbed coin? thing. Basically, for the 40-something years I had leisurely collected coins, coins came in plastic flips, cardboard flips, or totally naked (ready to fill a spot in an album or folder).
    Sending money to NGC for nothing more than a new plastic flip and a one or two word explanation caused me to seek better answers to the ?Why didn?t my coin grade?? question. I?ve determined that I need to learn more about grading. What knocks a coin into the category of ?UNGRADABLE??
    I?ve attached a picture of a very nice looking 1892 Morgan graded MS-64 by a second (or third) tier grading company. I sent this coin to NGC hoping to cross to at least a 62. BaDaBing, altered surfaces (?). What surfaces? Where? How?
    I?ve also included here a link to an excellent article on what we should all know about what grades and what doesn?t. It taught me something.
    Live and learn.
    Mark
    http://www.coingrading.com/ynotgrade1.html
     
    P.S. While I've been told that I'm a few french fries short of a Happy Meal, actually I'm two Morgans shy of a full set. (1903-S & 1895-S) Toughies, both.
     
     
    [attachment=:name]
  14. MarkW
    The End is Near..."
    The delivery Gods are smiling on me. Morgan Dollars are appearing on my doorstep and in my mailbox at a headspinning clip. I race home from work daily to beat the mailman to my home so I?ll be there to sign for my next treasure. Some days, I find only the evidence of the attempted delivery of one of these registered and insured packages and I?ll jump back into my truck and chase down the delivery person further along his or her route. I?m sure my local representatives of the USPS think that I am insane. It really doesn?t bother me if they do (they?re right). Today, I arrived home to find 2 padded envelopes (Valued at $5000+) thrown on my front porch by our friends at UPS. Not slipped inside the storm door, not signed for, just dropped on the porch of a home in a residential neighborhood with pedestrians, kids, and dogs. They (UPS) and I were both lucky.
    These packages brought me closer to the magic number of 100% on ?Poor Man?s Insanity?. All 4 of today?s arrivals fell into the 1892-1895 ?Hell Range? of Morgans. Almost any registry set that falls below 100% is missing 1 or more of the 13 Morgans that fit into this range. All low to lower mintage and real tough (and expensive) in the higher grades.
    Attached is a photo of one of today?s acquisitions. This 1893 CC has the look that I love. An ?HONEST? Morgan that did its duty as a circulating part of this nation?s economy over 100 years ago. Dark, toned, slightly worn! I can ?feel? the history each time I see or touch a Morgan like this one.

  15. MarkW
    Another Road Grows Smoother THEN Grows Potholes
    The completed road is actually one leg of the journey through the completion of my Morgan dollar set. The final piece to my GSA Carson City Morgan dollar set is on its way. The 1879-CC is the ?King? of this set. Only 4100 79-CC?s were sold in the GSA auctions of 1972-1974. Two varieties exist, the Clear CC and the Capped Die CC. I didn?t know when, or even if, I?d find one on which I would be willing to spend a small fortune. Done, now I?m just crazy enough to try to peck away at upgrading this set. Only 13 100% sets registered. I?m at the bottom, and will never approach the top. Check the #1 set (Saksgirl) for the best, unsurpassable, GSA Morgan CC set there will ever be. 7 or 8 of the 11 coins are Top Pop, beautiful and 100% imaged.
    Now, the other road;
    Last month, I made a journal entry regarding the increasing cost and availability of the Morgan dollars needed to complete my registry set. NGC had made the road to completion a little smoother by relaxing the grade requirements for scoring on a few of my ?needed? coins. I also mentioned in that journal entry that I?d like to see a lower grade requirement on the ?King? 1893-S. Sure enough, Scott Schecter (NGC scoring Guru) sent me an e-mail the next day stating that he had read my journal and had revised scoring on that very tough coin. Bingo, slot filled. Albeit with a PCGS AG03. A coin purchased when I was completing my first ?raw? set of Morgans and a coin that books for $7000 in VF. I think I?ll leave that ?dog? in the set for now. Thank you, Scott.
    That?s the smoothing.
    Now, the potholes;
    With the changes in scoring on some of these coins, I decided to raid my ?raw? set and fill some holes in my registry set. ?Body Bag City? Nice, decent Morgans that had survived over 100 years, shot down because someone in the past felt that a light cleaning was in order. Morgans relegated to second class citizenship because they fell out of someone?s pocket 75 years ago and sustained a minor rim ding. It doesn?t take much for a coin of this size and weight to get damaged slightly in a fall. PO?d, you bet I am! Grade the coin accordingly!
    Minor ranting finished, I see by some of the new journals that the 2005 registry winners have received their certificates and I congratulate all of them. Perhaps, this year I will win a new category, that being ?Most coins returned in a Body Bag?. A certificate I?ll display proudly. (Sorry, almost another rant.)
    2006 should bring me to the completion of the first step of my collection and could launch a new career. I think I?ll ask you, my fellow numisnuts, to send me your coins for grading (please enclose $30 per coin). I?ll then put them on a shelf for a month or so. At which time, I?ll send them back to you in their original packaging, with minimal explanation, AND, I?ll keep your $30. Sounds like a plan. I wonder if anyone has ever thought of this. (More ranting, Damn!)
    As you can see, it?s been a busy month since my last entry.
    79cc o2.jp
  16. MarkW
    Gifts from NGC?
    As I look at and admire some of the top Morgan Dollar sets, I can only imagine what kind of outlay was necessary to accumulate so many pristine examples of George Morgan?s legacy. I?m just a typical working stiff who has enjoyed coins, especially Morgans, for more decades than I care to remember. I had completed a set of ?raw? business strike Morgans and decided that my next logical step was to leap into a registered set.
    There?s a reason that my Morgan registry set is called ?Poor Man?s Insanity?. What I spend on coins is a bit insane, but with coins I?ll always be able to recoup most of my outlay or possibly come out ahead should the need for cash ever reach that extreme.
    This set is now about 3/4 complete and my standards must slide downward somewhat if completion is to be reached. For example, an 1892-S must be XF or better to score above the minimum in the registry. Numismedia has the 1892-S in XF valued at $210, however, at AU-55, the price jumps to $3090 and at AU-58, we?re looking at $6570. Too rich for this poor man.
    Today, NGC made my quest a little easier. Registry points were adjusted on two Morgan Dollars. My 1895-O in XF gained 386 points and the 1894 needn?t be AU to be worth registering. I?ll get my raw 1894 in the mail to NGC. Now, I?d like to see my 1893-S be able to score at less than VG.
    A few extra points from NGC, it must be Christmas in January!
    P.S. Ronday is doing a nice job on his (really, our) trading slabs site.
    [attachment=:name]
  17. MarkW
    Disappearing journal
    Is David Copperfield somehow affiliated with this site? Can someone make journal entries disappear?
    Island Antiques made an entry claiming that he (or she) received the incorrect coins back from grading at NGC and stated that he (or she) was finished with this site and NGC. That journal entry has vaporized. If, in fact, NGC screwed up that badly, I am rather uncomfortable. I have coins in for grading at this time. If Island Antiques was wrong, I will not worry.
    Did Island Antiques pull that journal entry or did NGC make it disappear?
    Let?s check some facts;
    NGC would like us to trust them with our valuable coins and Island Antiques? journal entry would damage that trust.
    Island Antiques is active in the journal but doesn?t have a single coin in the registry.
    I?m in a quandary. Who do I believe? Who do I trust? More importantly, WHO DO YOU TRUST?
    On a lighter note, 1889-O, I?m still putzing with a new camera.
    [attachment=:name]
  18. MarkW
    "FRESH" & "Double Sharp"
    Like VUMC409, I have also purchased many of my coins on eBay. I?ve found that some dealers use their own terms to describe their offerings. ?PQ?, I believe, means ?Proof Quality?. Says who? One eBay seller who sells mostly raw coins loves to use the term ?FRESH?. Fresh from what? Another likes ?Double Sharp?. What the !#** does that mean?
    I find that NGC and PCGS slabs are the safest bet. I examine the Numismedia and PCGS price guides before making any bid. Rarely will I bid over 80% of the ?book?. I try not to let the ?fever? of desire overwhelm commonsense but, it does occasionally happen.
    While I lean towards NGC and PCGS slabs, I have, on several occasions, gotten a good deal on a raw coin. I have also been burned once through dishonest photography techniques.
    Attached photo is a coin purchased raw at a very good price and later graded by NGC.
    Good luck! & BE CAREFUL!!!
    Also, to Bryan1315:
    Congrats on finishing your imaging. Let?s hope others follow
    ImageGette