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jackson64

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Journal Entries posted by jackson64

  1. jackson64
    approaching holiday has me reminiscing
    As the Memorial Day holiday weekend approaches I have seen some great articles and programs on the remarkable men {and women} who have given so much to insure the liberty and freedoms that we have in this great nation.
    My father was one who served, and among my treasures are his 2 overseas service medals and a purple heart. Amazing to me was that he got the second overseas medal AFTER he got the purple heart.
    I have been asked many times about my passion for coins with ship themes, and I think that it goes way back to my dad. Of all my father's passions his greatest had to be the water and fishing. I have had the great fortune to have lived most of my life in Maryland. Besides being on the Atlantic Ocean {the worlds largest ocean} I live 5 minutes from the Chesapeake Bay {the largest bay/estuary in the western hemisphere} and the Potomac River {longest river on the east coast}.
    Easily the fondest memories of my childhood are those weekends in the spring through fall when my dad would pack up his fishing gear and we would head out for an over-nighter to one of his many fishing spots. His favorite was always Point Lookout- which used to be a civil war prison camp that had an outbreak of bubonic plaque and was burned to the ground-along with all of the soldiers.Point Lookout is now a state park and still has an out of time feel to it..and of course there are the legends of the hauntings... Located at the wide mouth of the Potomac where it dumps into the Chesapeake, often I would see large ships passing by out in the channel...and just as kids may gaze at an airplane far above and wonder where it was going and came from, I would have thoughts of great voyages across the ocean...whales, storms, and exotic far away lands. Sometimes on these fishing excursions we would stop to visit historical places on the way...Ft McHenry in the Baltimore harbor {where the star spangled banner was written}..Dr Mudd's house...St Mary's City where the Ships the Ark and The Dove arrived in 1632 with Lord Calvert and established the first Maryland colony..and many others.
    As I grew older and my parents finances improved my dad bought a small boat. Great for the rivers and the bay on calm days, that boat stirred in me something that still burns today. I love standing behind the wheel of my modest boat...running it full tilt...and the wind whipping across my face...grinning like a little kid. Sometimes I can never be sure if the tears streaming from my eyes are from the force of the wind or pure joy from the feeling of freedom my spirit feels.
    I love the romantic ideal of those giant wooden ships creaking in the waves, whether for exploration of the unknown, carrying settlers to promises of a better life, or even pirates drinking their rum and heading to a tropical island to stash their ill-gotten fortune.
    How cool is it that two things that I have a passion for...sailing /ships/waters and numismatics can be enjoyed together as I continue to build my High Seas signature set. It was my mother who gave me her old mercury dimes and buffalo nickels--none rare or valuable---that fascinated me and hooked me on the beauty and artistry of coins. However my greatest love is being out on the water with no land in sight and just shutting everything off and listening....
    It has been almost 8 years since my father passed and I would love nothing more than to spend a quiet day with him..with very few words spoken..as comfortable fishing companions do. I have only visited his grave a few times, I know he would prefer that my mom, 3 sisters and myself spend our time with thoughts of living. However, on Monday I will get up early and go place a flag and a photo I have of the 50 pound yellowfin I caught last month on a charter trip at his grave. Then to honor his wishes and the legacy he left me, I will hurry home...hook up the boat..and get out on the bay....

  2. jackson64
    it has been a while...
    It has been quite a while since I have entered anything into my coin collecting journal and it has also been a while since I had good news on the submission front.
    Earlier this month I actually sent away 3 submissions at once: one was to get a variety correction on 2 slabbed gold coins--they both got the varieties and at no cost. The second submission was to use a coupon I had for 5 free photoproofs. I had no idea that NGC's photoproof service did such a great job and I wouldn't mind having one done of each of my favorite coins--as funds allow.
    The third submission was for 3 coins I had purchased and been hedging on sending in because of my recent run of bad grading luck. Two of the coins were raw-a 1942 Proof Walker, and a 1921 High Relief Peace Dollar-the third coin was housed in an ancient ANACS slab {still had the ANA & PNG logos} an 1893 Columbian commem which I cracked out to submit.
    I felt confident in the quality of the Walker proof{ I bought it from Stacks} I felt a solid 64 hoping 65 and it graded PF64 {still a great buy for $400} The 1921 Peace I got for an amazing $125 with the help of a friend at tradingslabs.com--in reality I thought maybe an AU58 {it is hard to tell on this date if it is worn or just mushy on the front design} and hoping it wouldn't be Bagged. It graded as an MS63 !! woohoo !! Finally, the ANACS Columbian from 1893 has great cartwheel rainbows but some scratches and hairlines,it was graded as an MS60 but I felt that NGC has a little leeway for exceptional eye-appeal. My hunch was right and it graded an MS64.
    Here's a photo of one of the 2 gold coins I got back- a "no mintmark" {chi} 1977 $50 gold piece with a Sloop for my Signature Set collection of Sailing Ships called High Seas..

  3. jackson64
    long overdue
    After reading several posts of my fellow collectors bewilderment over their points dropping I started looking at my coins. The verdict?--I'll be dropping some too and I say it's about time.
    I own 7 PF70UCAM modern $5 gold coins, not because I sought to collect them, but because I got them for just a little above the gold value--around $200 each. I still look around occasionally for a chance to pick up another 70 for $250 or less.
    The reason I brought this up is my 1986 Statue of Liberty $5 gold PF70UCAM is worth 2,385 POINTS!! $200 for that many points? The population of just the 70's of this coin is 2,254-far from rare or even scarce.
    I also own a 1917-D OBV Walker MS63, the coin is PQ and I paid a bit extra for it but it was worth the $1500 I paid. The points?--1278 and population of only 323 in 63+.
    That's it in a nutshell..7 times rarer, worth 7x the monetary value and only getting half the points of my common issue 1986 coin.
    Think of what that 1917 MS63 has been through...besides world wars and such...it has passed through generation after generation without being damaged, survived the great depression and the great silver melts,not to mention almost a century of being handled without a protective plastic slab!! I'm sure my 1986 $5 gold went straight from its mint holder to the grading sertvice and straight into a slab.
    This is just 1 example of many that could be used -don't get me started on the high points for president dollar proofs-over 3,000 70's and climbing, or extra points for slabs-this is coin collecting right?-not slab collecting, but whatever floats your boat.
    So when my points drop I will understand that it is like a market correction. Although I would have much rather had them raise the points on my other coins to reach an equitable balance..
    Here is a photo of my first Multi-coin holder. It has 5 ship- themed coins from the Netherlands for my High Seas signature set {which will now pass 100 coins when I get my latest submission back from NGC} if I could get points for that set I'd be rolling..

  4. jackson64

    Golden Buffalos

    By jackson64,

    mint announcement arrived today
    One of the great things about coins as a collectible is their variety. Many of us collect by certain series, some by themes, some by metals, some collect moderns, some collect pre-1900, some only certain denominations etc etc..there are tons of ways to collect them.
    I realized recently that I don't own a single slabbed coin with a president. I have old penny and nickel albums of Lincoln and Jefferson that I only fill with a coin I get from change...no ebay hole fillers. I realized that my eye for coins is more attatched to the artistic beauty of coins. Personally I feel that it is time to do away with the dead presidents of our coinage and go back to using symbols and images that represent what our country stands for and believes in. Liberty, justice, eagles, flags, fighting for freedom...
    I got a post card from the mint today announcing the gold buffalos for 2007....I am not a high roller and don't buy bullion coins. I would rather put $700-800 towards a high grade walker, slq, or even a common date Saint Gaudens or $10 Indian..this is just my preference and I know that there are many who will get a lot of enjoyment from assembling a handsome set of these 1 ounce buffalo gold coins. I do think that I will start collecting the buff golds but in a smaller denomination, probably the quarter ounce {large enough to do the design justice but still affordable}
    Although I don't collect moderns I am glad to see the Walking Liberty design on the SAE's, the Gaudens on our gold coins,and the buffalo return. I only wish that our generation could return to an artistic approach to coin design that balances a 21st century approach with classic American ideals...again, this is just how I feel...but 100 years of Lincoln on the cent is enough tribute..
    Here is one of my favorite coins of my collection, and also one of my favorite designs..these coins are not pretty when they get worn but an MS grade coin is a true work of art and testament to America...Standing Liberty Quarter-1917-S type 1 FH {barely}

  5. jackson64

    Missed Again

    By jackson64,

    where are they all?
    Well once again I tried to win a 1913-S type 2 Buffalo nickel and failed. I can't believe it is this hard to find a decent one. There were over 1.2 million minted, many buffs have similar mintages {the 26-S and 31-S both have lower} and they are not hard to find.
    The problem is that I've been trying to fill the last hole in a nice buff album I've assembled. The album has many nice BU coins I've gotten for $100 or less {many from crack outs of slabs} but the criteria I have is simply a readable 4 digit date, no acid treatment, no corrosion/nicks/scratches/rim damage..just a nice problem free coin.
    I have paid more for a few of the keys but the 13-S T2 puts me in a tough spot. Most unslabbed coins are uglier than I want-not to mention I'm not paying $250-300 for a coin that requires a magnifying glass to discern the date. The VF grade coin I would like to fill the hole with has usually been slabbed. I may be crazy cracking open slabs to fill an album, but even I am hesitant in cracking out a $400-500 coin for a hole filler.
    Every once in a while I see a quality example, not slabbed or treated and I watch it like a hawk. What really ticks me off is that the coin I had my eye on today was hovering at around $270 with 15 mins left. I waited and bid $321 with about a minute left. This was the max amount that I wanted to pay for this coin.I was outbid in the end-BY a DEALER!!! I get frustrated as a collector, when so many decent deals get ruined by people who buy these coins and then re-list them to make $10..
    I guess in the end I may just set aside $500 for the nicest one I can find {hopefully an XF+ or AU} and just fill that darn hole and be done with it. I usually am pretty patient-waiting for coins that are undergraded or have great strikes or luster for the grade-but this has been over a year for this one coin to finish this set and my patience is wearing thin.
    I have my eyes on 2 ANACS 13-S T2's and 1 NGC, and if the price stays reasonable and I don't get sniped, I have my trusty Dremel all set to liberate my prize and fill that final hole in my album.
    I have really been studying grading lately and one of the aspects that I have been focusing on is luster. I had an MS65 and an MS66 Walker from my collection side by side-and even though they had equal strike and cleanness-the one coin looks a bit flat/white while this ones luster pops...this studying may save me some money in purchases and submissions...My 1942-D MS66..unfortunately ANACS so I can't register it but I won't be looking for another one to replace this fully struck beauty..

  6. jackson64

    The reverse

    By jackson64,

    why I bought it
    The reverse is why I bought the coin in the first place, to include in my sailing ship themed signature set. And in fairness the reverse looks better than before...although the 1 or 2 spots are still there they are lighter and some of the copper in the gilt coin now shows in the field and sails, giving the coin a handsome highlighting..just a bit disappointed in the obverse...thanks for bearing with me on back-to back entries but I wanted to record for my journal's sake a more accurate record of my mixed feelings..JAX

  7. jackson64

    Returned From NCS

    By jackson64,

    My SC$1 aka The Forgotten Coin is back
    this will be short, I finally got back my 1907 Jamestown Tercentarry Anniversary SC$1 from NCS. I am an optimist by nature-which may sound like a virtue-but in truth it tends to lead to alot of disappointments in life. My mind had visions of the black spots being removed from this coin and some more of its original luster blazing back through. Alas, I guess I need to be more realistic in my expectations. But this...
    If you are interested I posted a "before" photo several days ago in a journal entry titled The Forgotten Coin...and here is a photo of the after.............I actually paid for this
    PS: I love all of you members who contact me via the Collectors Society messaging system and would prefer that if you have comments about this coin/medal that you drop me a private message that way{I'd love to hear your opinion on this "conservation"}...I don't think this forum is intended as a chat board ...and I KNOW it is not meant as free advertising for something you are selling on ebay......keep up the great posts that tell of your ups and downs of collecting...I enjoy reading my fellow collectors experiences..

  8. jackson64
    Ncs submission showed up at NGC
    I am a bit embarassed to admit this {especially since I take a bit of pride in my steel trap of a memory} but I had forgottten about a coin I had submitted. I have been a bit overwhelmed with working, I also had 6 coins in an NGC submission I was keeping track of and with all of the summer plans, cookouts, obligations, anniversary, birthdays etc etc--it just slipped my mind.
    In mid-may I had sent away a 1907 Jamestown 300th Aniversary SC$1 to NCS for conserving and having no way to check its progress-other than calling and nagging them-it just slipped my mind.
    Yesterday I was going through my bank stuff on-line and saw a charge by NGC and almost instantly remembered and guessed what it was. I quickly logged out of banking and came to this site and checked "order status". Low and behold it not only had arrived at NGC from NCS, but it was Finalized/imaged/shipped.
    I checked the grade- it was an NGC slabbed MS63 when I sent it-and it will be coming home as an MS63. {As many of you who have read my journal entries- I may be the unluckiest numismatic submitter in history !!}
    But the grade wasn't the point so I don't care. The coin had some black spots that I hoped could be removed professionally and I didn't want to risk messing it up and having it bodybagged.
    So I'm actually excited to get it back. I saw the coin at a Stack's auction....it took about a month for the auction end date, another week for the coin to arrive, and then I mailed it to NCS 2 days later...so after about 4 months it will finally be in my possesion for me to enjoy.
    I only hope that the conservation was successful {after almost 2 months with them I almost feel like there BETTER be some improvement}
    here is a before photo, the coin is a brass/copper/silver alloy and sometimes the "staining" cannot be removed because its not just superficial but goes deeper into the metal....crossing my fingers...

  9. jackson64
    Not all coins start at a 70 point scale
    I just got back 6 coins from NGC today--on a quick note, the $25 registered mail postage I paid NGC to return my coins took 10 days and the $8 USPS priority mail/fully insured took 2-3 days for them to receive them, go figure.
    But to my point about grading, it is very complex and the more I study it-through books and hands on looking at coins and trying to figure why they were attributed the grade they were, the more I feel I may never get it--although I am good enough to be very close usually. According to ANA Grading Standards there are Four Main Considerations: 1. Contact Marks-depending on the number, the severity AND location these can really drop a coin. I have learned that a contact mark on a prime focus area like the face can be as heavily graded as 2 or 3 in the field or near a rim. 2. HAIRLINES-these can be hard to see without rotating the coin or magnification. Most are caused by mishandling, like being loose in a flip or in an album with those plastic slides. 3. Luster-original mint frost or bloom. This takes a bit of experience to recognize not only if a coin has been improperly cleaned, but as I get better I can even tell the difference in the shine of a dipped coin versus one with original mint luster. 4. Eye Appeal-one of the reasons that coin grading is an imperfect science. To one person toning is attractive, to another the whiter the better. I think this is why I am often unhappy with my grades, to me-if I bought a coin it was because I found it attractive, those grading it might not find the beauty in the same coin that I do.
    NOT ALL COINS START ON THE 70 point scale !!! I was surprised to learn that strike was not one of the 4 criteria looked at for grading. Having said that, there is an unwritten rule that a weakly struck coin should never be graded above a 65. For example, many D and S mint coins from the 1920's were very weakly struck for various reasons. These weak coins could have been perfectly handled, never touched, not a ding, scratch hairline, lustrous-in other words perfectly preserved from the moment it was struck--and not grade above a 65 !! This explains the almost complete lack of 66's and above for many of these dates in the 1920's and other years.
    yes, grading is complex-and all I really want is consistency. My 6 coins back from NGC today were a mixed bag. I got an MS62 on a brand new Britannia-still in its mint capsule. When I saw the grade on-line I was mad. Now when it is returned I reluctantly have to agree. The mint capsule had rubbed the cheek and jawline of the Queen on the obverse {it looks worn in that area} the reverse is perfect, however I couldn't have argued if they had graded it an AU58, wear is wear even if it was "Uncirculated". I sent in 3 proofs, taken straight from the felt boxes {never touched the coins} and got 2 68UCAM's and 1 69UCAM. I am still waiting on the day when I actually get a 70 on a submission. Considering the fact that I have sent dozens of coins straight from their unopened boxes I think that I am over-due.
    I won't start this again, but if you remember about a month ago I was upset about a Roanoke half that got bodybagged for artificial toning? Well now it is graded a gem+ and slabbed in an NGC holder {they do make mistakes and if you are confident in being right-have them fix it}
    The final coin baffles me, to put it simply-the coin is perfect. There is not a mark anywhere, none, zilch, zippo, nada. It is a So-called $1 released along with the 1938 Deleware Commem and Sweden also released a 1938 coin {2 kronors} with the ship Kalmar Nyckel on it. I bought this coin, perfectly preserved-with the original program from the ceremonies where the celebration was held and the coin was distributed !!! Don't think I'm greedy-the coin graded as the finest known example ever graded an MS66!!- but is there an unwritten rule that 66 is a perfect coin for this issue?..anyhow, look for yourself..I am excited to include this in my High Seas signature set. I already have the Delaware commem from the US and its Swedish counterpart, and now I finished the hat trick.

  10. jackson64
    it's the desirability
    As has been said many times in journal entries, "the demand creates the value of a coin"-and also the number of points a coin is worth. Many people wonder about how NGC comes up with the points for particular coins...how do they weigh market value, versus mintages, versus condition rarity etc etc.
    Let's look at the Jefferson nickel proofs for example: almost all of the 1980's -2006 are worth only 3 points for a PF69UCAM, which makes sense since there are tens of thousands of these graded and they can be bought for below the cost of the slab. The PF70's of these dates range from $100-300 in price, thus the 100 points is fair-there are dozens of each date at 70 and the lower amount of 70's the more the points go up.
    There are some exceptions but for good reason..the 1994 and 1997 SP coins have miniscule mintages {they are probably undervalued in the market} and when the nickel design changes these coins will be VERY hard to find.
    My main point is going to be about the heavy points for Ultra Cameo as opposed to a plain proof or SMS. In the case of the SMS coins an UCAM is incredibly rare. Take for example the 1965, NGC has only certified FIVE!!! UCAM coins-3 in 66 and 2 in 67 --if anything these coins are underweighted in point value. {PCGS populations are similar} put simply, there are over 136,000,000 non-cameo 1965's and 5 deep cameo's? The price and demand also reflect this {obviously this is not news to collectors} as on the rare occasion that one appears for sale it sells for THOUSANDS---of course it is worth more points-and it actually should be worth even higher if mathematical ratios were considered. I pay higher for a wonderfully contrasted and deeply mirrored cameo coin and it seems to be the consensus in Numismatics that these are preferred.
    All things considered, NGC does a wonderful job at assigning points and weighing all of the factors before setting the point level. I too understand the frustration of the points...My 64 may be worth 100 points but a 65 may be worth 800 points-doesn't seem fair--but the reason I bought ther 64 is because it cost $250 and the 65 cost $1500.
    There are always going to be undervalued coins for their rarity, and market and demands for some coins change--and that is why NGC gives you the option of contacting them for a Point Change. If you present a viable reason/evidence to them, they will change the point values { I know this from experience}, but for the most part they do an incredible job weighing all of the factors and coming up with a great system for points---even if it is like grading..an imperfect science.

  11. jackson64
    I will always be working on 1 or 2 album sets
    Like many numismatists I started my collecting with an album/folder. It was actually 2 seperate folders for lincoln cents, one with dates from 1909-1940 and the other with dates from 1941-present {which was about 1975 then}. I can still see my youthful -script of putting the dates under the undated holes for the late 70's years as they were released.
    I am an enthusiastic registry collector...in fact it has revitalized my passion for coins. I love the community feel, reading the collecting experiences of others, looking at some incredible sets and the various and creative signature sets that people assemble. I send away between 10-12 submissions a year with varying amounts of coins each time. I will even, on occasion, submit a coin that has a value lower than the slabbing cost...just so I can include it as part of my "registry collection". Some may think that's nuts but I'll collect what I like, the way I like..and anyhow, that low-value coin may have a higher value to me than the "list price" says its worth.
    Having said all of this about the registry and certified coins, I still love assembling an album collection. I usually try and have a primary registry collection I am building, a fun signature set, and 1 or 2 albums to work on.
    The albums are great...I get to hunt through cheaper, raw coins without any concern for points. If it is handsomely toned I can put it in its hole without worrying about body bags. I can use hole fillers to finish a set and upgrade later or start another set. It is casual, fun and I still get a thrill when I fill that final spot.
    For the most part it is inexpensive, although most series have a few semi-key and key dates that will cost more or I can just compromise with a lower grade example to fill the spot.
    One of the things I love about album collecting is I get to actually HOLD the coin. I love the weighty feel of an old silver half or dollar in my fingers, not a plastic case between. I also love to open a page of the album and look at all of the coins sitting together with their older and younger siblings..nice neat rows and hopefully of similar quality.
    I found out today why the water in my house has been murky lately---our well is drying up!!! Well that's gonna be an $8000-10,000 expense I hadn't counted on...so it looks like I may be collecting a cheap album set for a while...I think I'll start a Mercury dime set, starting off just trying to fill all of the holes, and then replacing the more common dates with nicer coins sometime later. This way I can still enjoy collecting during this tight spot.
    Here's my newest replacement for my Franklin Set {I've already finished it, I am just trying to make it a more matching set now} Fresh from its cracked open PCGS holder, I have a great home for him..right next to all of his shining brothers...

  12. jackson64
    received from the mint in only 4 days from ordering
    In 2005 the first issue of Canada's yearly Tall Ships $20 Hologram coins came out and I got one for my set of themed coins. A little reluctant at first because of not particularly liking the "cheap" look of painted coins or colored picture coins, I bought that coin because of the superb design and detail. I was realy surprised to find how beautiful the coin was when it arrived, and what a great medium a partial hologram image is for a ship-themed coin. The 2005 had the hologram on the water where a tilt of the coin could create a darkening sunset, or a brilliant orange sunrise reflecting in the waves. The 2006 had the hologram in the sky, where with the right tilt a looming squall can be seen in the distance--complete with lightning.
    I have been anxiously awaiting the release of the 2007 version,{ as I'm sure many of you who collect moderns can probably relate with} and on Monday I saw that it was available at the Royal Canadian Mint Website and purchased it. On Tuesday I got an email saying that it had shipped !!! And I was stunned today when I stopped by the post office and it had arrived!! Four days after placing the order I had it in hand...super service from a mint.
    My only other recent purchase was a nicer Whitman Album for my Buffalo Nickels. I just want my albums to be a bit more uniform--same style and color-- and now I found a new conundrum. I was down to just needing a nice full date 1913-S to finish this set...but low and behold---this album has HOLES for the 1918/17 D nickel and the 1937-D 3-legged nickel. I wonder what the odds of finding quality raw coins of those varieties is. Well, it looks like more crackouts for my albums are in my future.
    Speaking of slabs, I have 6 coins in receiving at NGC..and one coin somewhere at NCS. I say somewhere because I sent it several weeks ago and called after 1 week to make sure they got it--they did--but that's all I know. I guess I'll wait until it has been a month, and if it doesn't appear at NGC by then I'll call again to check on the progress.
    So, even though my collection has only grown by 1 coin in the past several weeks, I have still been very busy with the hobby...I even finally finished all of the individual coin descriptions in my signature set
    Here's a photo of the 2007 Tall Ships series edition..this years' ship is a Brigantine, a great 2-masted ship...
    PS: the 2005 and 2006 editions can be viewed in my High Seas sig set Gallery Page #1

  13. jackson64
    sometimes patience is forced upon you..
    Several times over the past year I have seen a coin at auction that I REALLY wanted. I'm sure many of you can relate. For me it is usually a coin that fits my signature set of ship coins. I usually was not even aware of the coins existence, but once I see it at auction-whether from the big auction houses or even ebay- I become enamored. I can already picture how great it's going to look in my set.
    However, it doesn't always work out. Most of the time I'm unsure of its value and underbid or get sniped at the end of auction. THEN the quest begins...I look high and low for another one, world coin dealers, ebay, every auction house..even emailing people and asking if they have seen one. On 3 recent occasions I have ended up finding the coin and paying much less for it than my auction bid...and as 70% less than the winning bidder paid.
    I guess the lesson I should learn is that I need to curb my impulsiveness and when I see a coin I really like--research it and hunt for a cheaper example. I have started a list of coins that I would REALLY like and now I spend time looking specifically for these coins--like hidden treasures--in some dealers bargain bin.
    Here is the latest example of my HUNTING EXPEDITION....This coin is part of an 8-12 piece set that the Royal Mint has made for Bermuda honoring the ships wrecked in the Bermuda Triangle. Each coin is triangular {really cool} and has a different ship inlaid with gold. Unfortunately they are sold by the set and many of the coins have steam ships or military ships---and I collect SAILING ships. I hunted high and low for this coin and finally came across a phone # for a US distributor of Royal Mint coins. After a bit of convincing, they agreed to sell me the single coin with the Constellation on it...it just arrived today and is everything I had hoped...and worth all of the effort....and maybe even a little sweeter since I had to work to find her.
     
    PS: I have just added 15 coins to my High Seas signature Set...I got the coins back from NGC late this week and they are all listed with photos {page 6 of the set gallery} but the descriptions will take a while since I need to research some of the ships/explorers/histories that are depicted on the coins..

  14. jackson64

    Alphabet Soup

    By jackson64,

    if you think there's any good
    I usually restrict myself to only using the journal as a place to record my experiences and thoughts as a Numismatist. There are plenty of coin chat boards for discussions on various issues. Having said that-I'm breaking the rules!!
    The preponderance of self-slabbing by anyone who wants to buy some slabs and a label maker can in no way help the hobby.That few dollars one might get a decent deal on is going to be off-set in the long run by the de-valuation of a lot of coins...let me try to briefly explain.
    For many new collectors, you may not realize that the market is very volatile--being huge in the early nineties and then prices for almost all coins plummeted after many people quit collecting due to various scandals, not the least of which was the over-valuation of silver due to the Hunt bros. It was not until the state quarter program that a wonderful rebound occured.
    Do not kid yourself into thinking that this market is strong enough that if there is an exodus of collectors that the coins you buy now for $200-300 could be valued at $20-30 if this happens. Really, how much is a silver quarter worth? If the slab says 70 it may have a value of $200 only if there is demand for it..otherwise it is worth only about $3-4.
    The biggest danger that these self-slabbing criminals at sites like ebay pose to the hobby is the potential to push away collectors and stymie the new found interest in our great hobby. If a newbie bought some of these junk coins in phony slabs and thought he was investing wisely, only to find out that the coins were over-graded garbage-if he were smart he would quit the hobby.
    I fear that if ebay doesn't start policing themselves, or NGC and PCGS don't step up and stop people from using their names and price guides to sell this junk..we may see another exodus from the hobby when the state quarter series is done. Then all of these coins we are paying hundreds for in Legitamate holders of real TPG's will be worth fractions of their current value.
    One thing I read is true--we the collectors set the value of the coins--and if something is not done to shore up and eliminate the fraud that goes on everyday--there will be far less people collecting and lower values of our holdings for everyone..
     
     
  15. jackson64
    wary of coin conserving
    It is going to be a bit lengthy journal entry because I have had a lot of activity in my collecting recently--for those who read these please bear with me..........
    First of all, I have been so busy, not because of any uncontrolled spending or any financial windfall--but mainly by trying to get some things in order and several coins that I have been waiting for became available simultaneously.
    I have decided to try out NCS mainly because of a wonderful ship coin that I bought--a So-Called Dollar--celebrating the 300th anniversary of Jamestown, minted in 1907. I thought this coin would make a great companion for the recent 2007 400th anniversary coin I bought. I saw this coin at a Stacks sale, from the John J Ford Collection auction and put in what I thought would be a reasonable AND winning bid---I lost. As fortune would have it, I randomly looked at a Teletrade auction one day and saw another one!! I bid a bit higher and won--for about half of what my Stacks bid was !! woohoo...I love when that happens, and now with the money I saved I will send it off to NCS {with a few others to make it worth the expense of shipping, time etc}. I only hope that the black areas on it can be removed off of a brass alloy coin--grunge seems to penetrate the surface of certain metals. If all goes ideally the coin will be conserved great, and re-holdered in a new, higher grade NGC slab afterwards..crossing my fingers here.
    I also recently did 2 more submissions to NGC, one with 8 coins and one with 2 multi coin set holder requests. The multi-holders are a 3-coin set of the 1977 Bahamas Silver Jubilee { I couldn't believe when the coins arrived at my house after purchase that they were the rare "no mintmark" variety--and I bought them at the mintmark price-a nice $600+ bit of luck} the coins have a $100 gold coin, $50 gold and an oversized silver $25 { which is why I went for the multi-holder}. The second multi-coin slab will have 5 coins-the "Sail '95" set from the Netherlands. This is a pristine set {I mailed it with the original unopened cases} and hope I might finally get my first 70 on a submission with one of these...the other 8 coins I sent in also all have ship themes on them, including a really cool but tiny 1/20th oz. gold coin from Mongolia with a commem to Marco Polo's travels to the far east.
    I was surprised today when an NGC rep called me to clarify a small detail concerning my submissions. This is the second time I have gotten phone calls from NGC--just for the purpose of my satisfaction and making sure they get my order right. This kind of service is why I continue to use them { my recent submissions were my 6th and 7th of the year}. Although I do not always agree with the grades I get {who does?} I feel assured that they are spending their best efforts to be correct and if there are any glitches in labeling etc etc..they are quick to rectify the problem..........these phone calls could also mean that I might need a course in how to fill out submission forms and quit holding up the grading for every one else...sorry.
    I have much more but I'm gonna cut it short for now and probably add another in a day or two {breaking my rule of no more than 1 journal entry per week}....a quick thanks to 2 friends from tradingslabs..J3Eleven for the tip to a website that has 7 pages of ship coins-and where I found that Poland zlotych commem silver coin, and also to Ronday for trading me the Sail '95 set........here's the obverse of my So-Called Dollar 300th anniversary coin..Pocohantas on the front, and of course ships on the reverse {pictured in my High Seas set-which has several new additions--including a new pirate coin which is a must see coin-with ship}
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  16. jackson64
    have been doing some thinking...
    Ok, first of all, I'm not parting with anything for a long while. I have just been thinking about that day in the future....
    I have been re-hashing some thoughts recently after reading the journal entry by AEAGLE01...who is selling his #2 ranked Buffalo Nickel set at Heritage this month. As much as I enjoy numismatics-and it truly is a hobby foremost to me-the objects of our collecting endeavors have VALUE. When I see a fabulous set of buffalos like AEAGLE01's I realize the time and effort he must have spent putting it together. With the abundance of internet auctions, ebay, websites, local auctions etc etc it is not hard to put together a complete set of decent/upper grade coins..or even Super High Grade modern sets if you have the money. To put together a wonderful set of classic coins--many in the top-pop range-- and especially an enormously popular set like buffalo nickels is a labor of love, and much invested time. The higher end coins are not readily available and when they come up for auction there is heavy competetive bidding.
    Anyhow, to sell a set like that got me thinking...what would make me sell my sets and if I never sold them...who would I leave them to when I'm gone?? First of all I have a wife and 2 daughters, none of whom share my level of interest {my wife's response is usually "that's nice honey" and the girls usually give me a "cool coin dad" response}. Because my sets have value I do look at them as a bit of an investment/security. God forbid any tragedy should strike my family but I do count my coins along with my other investments as potential assets for a rainy day.
    I also can see a much slower collecting period in my not too distant future. My older daughter just finished her freshman year of college and in 2 years my second daughter will be a freshman while my older daughter will be a junior. Things will be a lot tighter on the coin buying front for a few years to say the least.
    These are just a few of the thoughts swirling in my head recently concerning my collection....and in the end I have decided nothing. I guess I will have to hope for continued health and good fortune and maybe someday.... a grandson!!!
    Here's a photo of a super Maryland commem I bought many years ago... I tried twice for an upgrade from its current 65 {I've never seen a 66 this well struck, lustrous, and completely free of contact marks}..but now I'm happy to just own it...I figure if it were properly graded I wouldn't have invested the money to own such a beautiful example of a coin that fits no set..I only bought it because I live here in Maryland and in Calvert county {the bust on the coin is Cecil Calvert-the first Lord Baltimore}
    [attachment=:name]
  17. jackson64
    beauty is in the eye of the beholder?
    I'm sure that most serious collectors realize that grading is an imperfect science, the system of using multiple graders and taking the average is probably as effective as it can get. Grading standards have changed over time--a PCGS coin in an old rattler or green label usually has a much higher chance at an upgrade than other coins.
    Well my journal is supposed to be about my collecting experience..the bad as well as the good. My luck has been down lately, and I may as well record it here to keep me grounded during the good times....Here's what happened....
    About a year ago I purchased a coin from American Numismatic Rarities for $1700..the list was $1500, but the auction listing stated the coin looked easily 1-2 spots undergraded. The coin was an MS62-trends at $1500..a MS63 jumps to $2500 and an MS64 jumps to $7500!!
    After the coin arrived I was ecstatic--it was even nicer than the photos in the catalog. I studied auction histories of major coin Auctioneers and had not even seen an MS64 close to the detailed strike, mint luster and very few contact marks...I was sure mine would go at LEAST 64!! I sent it away with 4 others to NGC for a regrade. All 5 coins came back just as I sent them away {no explanation..duh..} I was just a $100+ shorter in my funds. Well, I thought that maybe the other 4 coins may have been borderline and my MS62/4 was just quickly perused...so I sent it in again alone..$70+ later it came back again in its same holder. I ran a poll of friends and asked them to grade it {showing only the coin}..9 said 64, 2 said 65 and 1 said 63...
    I was getting frustrated at this point, mostly everytime I saw an inferior coin graded higher and decided I would take it to my local dealer to have him look...he was impressed, said it was VERY PQ for the grade and offered me $2000...after a brief pause I sold it and washed my hands of the thing.
    The story doesn't end there...about a month later the dealer called me and told me he was sending me a check for $500..when IU asked why he told me that he had decided to crack out the coin and re-submit it..his result?..MS64 worth $7500!!! Although pleased with his gesture {I can't say that I have ever given a dealer back money when a PQ buy got upgraded to a higher value} I almost wish he hadn't told me. Well I guess..No Guts No Glory..I was afraid to crack out a coin I had paid $1700 for...
    Finally, about 2 weeks ago I purchased a superbly toned Roanoke Half Commem..with eye-popping luster still coming through..graded MS67 by one of the big 2 grading companies {not NGC}...this coin sells for about $1000 in MS67 and skyrockets to over $10,000 in MS68 {some have sold for over $40,000!!} anyhow, I took the chance and cracked it out..I mean the potential benefits could far outweigh the cost, right? At worst I figured I would get an MS66..hopefully I was betting on an MS67*-star coin..and wishing to finally "hit a big one" and get a 68 or 68*. Three days ago I received my coin back----bodybagged as artificially toned??? $%^&*&$@#...man oh man..it has taken me 3 days to calm myself enough to write this...
    Anyhow, I'm not sure what the lesson is..don't send in crack outs?..don't try for upgrades?..submit 100 coins at a time?...I have now sent close to 100 coins in and have only gotten 2 upgrades, both on ANACS graded coins..
    Maybe in the end the thousands of hours I have spent studying the hobby, looking at coins in hand, in catalogs, on websites and at auction..I have not learned how to judge the quality of a coin. I subscribe to weekly publications, monthly publications and have around 15 books on various series..
    In the end I think I will go back to doing what I have done for most of my collecting life..buy 65's in 64 holders and PF69 moderns that look perfect to the naked eye and be happy with the fact that my coins are PQ and pleasing to me..
    But what to do now with this very pleasing coin that has just been bodybagged???
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  18. jackson64
    this set just keeps growing...
    I finally got enough time to go by the post office and pick up some packages..among them were my submissions to NGC. A great turnaround-exactly 10 days, just as listed for the tier on World Coin submissions. Just a fabulous group I sent this time-with coins from Andorra, San Marino, Iceland, Congo, Ghana, Somalia etc etc..since I purchased the Krause catalog I have found dozens of coins that fit my signature set of sailing ship themed coins.
    Now comes another great part of the hobby that my little niche provides-and that I love { I am a bit of a history geek}--researching either the ship, the navigator/explorer, expedition or discovery of the place that the coin commemorates.
    I am not the greatest photographer but I try and take photos that accent the details of the coin or create a white on black effect for deep cameos.
    This set is quickly nearing 100 coins and now I will start the next phase..researching my returned coins for info to add to their descriptions, while shopping/hunting for the next batch to mail away..and then it starts again as those get graded/returned and the next treasures are discovered..I really love this hobby.
    Here is a photo of one of the latest returnees--a heavy, bi-metallic, silver with gold inlay,interesting shape, Bermuda $2 coin celebrating the arrival of a new Millenium..just gorgeous...

  19. jackson64
    At long last..
    I finally bought the "holy grail" coin for my signature set-High Seas. It is the Hudson Commemorative from 1935in a nice MS grade. I started my signature set of coins with sailing ships on them several years ago-and the set was originally just going to be US coins with ships. I had purchased every American coin {and even a few Hard times tokens and so-called dollars} that fit my criteria except the Hudson.
    I expanded the set to include World Coins and it has taken off like crazy-there are literally hundreds of potential additions to this set. I got carried away adding a lot of $25-$100 coins and never got around to getting the Hudson.
    The few times this coin has been available at auctions it has sold for a higher price than I was willing to pay at the time. This is one of those hard coins that flies under the radar-it always sells for more than either: Trends/Coin Values, Numismedia or PCGS lists its value at.
    So I waited..and waited..and finally with another bid at "book" value, I finally won !! A well-struck coin for tis issue and still some nice luster. It has only a few smaller, non-distracting contact marks in non-prime areas...a very solid coin for the grade and I am ecstatic...I haven't felt like this since the last time I actually finished a set.!!
    I also have started a new set, although I probably won't list it in the registry. I am putting together a Walker short set from 1940-47 with all coins graded 63 or 64..just trying to find the most attractive coins I can get for around $100 or less each one...and maybe take my time and just get 1 per month or so-after all I still have a few hundred ship coins to buy to "finish" this set/collection...

  20. jackson64
    Knowledge may be power, but it can save a person money too
    I have not written in my journal in a while-except for my little April Foll's prank about the gold formula. The main reason is that I have purchased several books on our great hobby recently and have been doing more reading than writing or collecting. David Bowers book "The Experts Guide to Collecting and Investing in Rare Coins" has been a real eye-opener. It seems that I have done several things naturally correct, and really blown it on others {overall my collecting has been a pretty good investment though}.
    One chapter that really was an eye-opener was that Rarity is Subjective!!! I have known for a while that even with set grading standards that grading can still be subjective to a degree, within a point or two {and sometimes a single point can mean $thousands $} However I had not considered that rarity is subjective. A 1916-D mercury is almost always known as rare, yet its mintage would place it as the 11th easiest date in the 3-cent nickel series. Demand, condition rarity, high grade hoarding, and other factors all help explain why more common coins often sell for more than lower mintage ones.
    Anyhow, my big project has been looking for World Coins with ships that fit my High Seas signature set. I spent the $60 on the new Krause catalog of World Coins 1901-2000...and there are a lot of cool older ship coins. I wanted to try and add more coins from the 1800's and earlier 1900's to my set. It is quite a project looking through this 1000 page book and writing down interesting coins, doing a bit of research on them, and then trying to find some of them for sale. It is however a true labor of love.
    I added 2 beautiful Daniel Webster Hard Times Tokens from 1841 {with sailing ships} to my collection-they are 2 gorgeous copper coins that have gotten that beautiful blue toning that you rarely get on copper-and I had to have them.
    I also finally bought the "Holy Grail" for my ship themed coin set...The Hudson Commemorative!! I got it at a Heritage auction an NGC MS63 {should be receiving it anyday now}. It is the final US coin that I needed with a ship to add to the set, and I had put it off for quite a while because the it's a bit pricey for a non-competition set coin.
    Finally, I just mailed off a 10 coin submission to NGC with some super coins in it, and I'll probably be checking the order status every day for the next few weeks.
    Well, it has been a busy first quarter of 2007 for my collecting experience-even if my actual collection has grown little and my library and knowledge have grown more....here is a photo of one of the few coins I have added to my collection this year-Daniel Webster HT-21 Hard Times Token with a die break and great coloring {which is hard to photo}..

  21. jackson64
    Article from the Journal of Metallurgical sciences..
    A recent article in a reknowned Scientific Journal reports that researchers have uncovered a complex stoichiometric formula that can transform higher grade bauxite metals into 24 carat gold. The process which involves an intricate operation enables bauxite to shed up to 3 valence electrons thus changing the polarity of the bauxite. The result is a change in the density of the mass of the metal, giving it the same electrical compatability as gold-but still without the "golden" color...essentially white gold.
    The US government has not yet determined what they will do about the discovery-and no official report is expected until a study is done on what the effect on the world economy might be. As it stands, this may cause all of our gold holdings to become no more rare than common lead...
  22. jackson64
    I found my old Lincoln Cent album
    Like many people I have moved several times in my adult life. Some moves have been because of work, some to cut down on commute time, and even once for just a 3 year hiatus in my early 20's to south Florida for the heck of it. As a result of these moves I have boxes of stuff that have followed me in my travels and usually end up unopened in an attic, garage, basement or closet at my new location. I have been at my current address for over 10 years now and decided to clean out some stuff in my garage to make room for a weight bench {which will be gathering dust in a month, I'm sure}. Going through an old box of yearbooks, High School athletic awards,old photos, Cal Ripken autographed baseball..I found mixed in my old penny album!! It is a Whitman fold-up book#2 with cents from 1940-present {which at the time was around 1978} Opening it up I saw three bright steel pennies-as shiny as ever-dated 1943, 43-D and 43-S. As I sat looking at them I remembered like it was yesterday the winter storm in 1979 and how I spent 3 days shoveling snow with my buddy Rusty for $5 for a driveway and sidewalk. I made about $30 between sledding and snowball fights and when the roads were clear enough and the stores re-opened I had my mom drive me to the coin store to buy these 3 pennies. Thirty years later, I still have those great memories of old friends, a mom who got me interested in coin collecting, snow days free from school, and all I had to do to return to those care-free days of my youth is open up my old penny album and gaze back in time..
  23. jackson64
    superb new edition to my set
    All this talk of TPG's got me thinking recently- and thinking is not always one of my strong suits. Some may consider me insane, especially since NOBODY collects anymore..only buying for the investment value-but I rely heavily on NGC, PCGS, and ANACS for my coins--the ones I crack out of their slabs and place in my album sets. I can always count on a top-quality coin being within a point either direction, of accurate grading. They are the best coins PERIOD to crack and put in a quality album. I'm not totally insane-rarely do I crack out a coin worth more than $200-300 {unless it's one of the final holes and a key date}
    Well I finally got one of the final 2 coins I needed to upgrade my Franklin half MS FBL collection and now all I need is a little arthritis medication and I'll have it in its new home in no time.....and as soon as I can find a decent 1913-S type 2 Buffalo nickel graded in the VF20/30 range by either of the true 3 TPG's then I have a nice little round home for it too...
     
    MVC-949S.J
  24. jackson64
    Got my 2 NGC Award Plaques today...
    I almost opened the package in my car..it was a box from NGC and could be only 1 thing, the Awards that I was granted for best Collectors' Journal and the other for Most Creative Signature Set.
    I am writing this in all humbleness and gratitude because I am one of the little guys. I often see coins sold at some of the big auctions that are worth far more than my entire collection and although I love to look through the catalogs I get in the mail, most of those great coins I can only dream about. In fact I have never spent more than $3000 on any coin, and I am grateful that I can do that because there was a time in my life where $300 for a coin would not have been feasible.
    For any of the newer collectors who may read this remember that NGC has set up a wonderful sight here where even the smaller budget collectors can find a niche in a signature set, world set,year set etc..and be the best in their category.
    For all of the incredible sets on this sight and the many wonderful coins that I will never be able to afford- a little guy with 2 daughters in college to boot-was actually the only member to win 2 of the special award plaques. And although not as prestigious as Best Overall Set-my little niche is alot of fun collecting for me.
    The commentary on the Journal Award was very flattering-"represents the spirit of the collectors journal by recording his collecting experiences". When I started writing journal entries I understood that it was intended almost as a coin diary { I like to think of it as a ship Captain's log-more manly than a diary}..the purpose of the journal feature is not to solicit opinions, ask questions, or raise topics for discussion {there are seperate chat boards for this here at this sight} but only as a PERSONAL log of our private collecting experiences...
    For the journal option and the wonderful signature sets I want to thank NGC for both and hopethey continue with the excellent work they do here.
    It has been another great year of collecting and I am living proof that even us little guys have our place and I can call myself a Numismatist..
    MVC-934S.J
  25. jackson64
    too large for slabbing
    Since the start of the signature sets here at Collectors Society my ship-themed coin collecting has gone overboard. I collected coins with ships before the signature sets started but I kept most of them raw and was planning on building some sort of presentation case for them..now I get them slabbed to include in my High Seas Signature Set. Sometimes the cost of slabbing is greater than the value of the coin, but I want it as part of my collection because of its uniqueness or overall beauty/eye appeal.Recently I have even started buying silver bullion bars with ships on them and oversized coins-2-5 ounces-that fit my collection..I hope that someday NGC will make a way that I can include these jumbo coins in my set. If they can make a large holder that can hold 5 coins at a time {multi-coin holder} maybe someday I will be able to add some of my other coins to the set that are too large..or maybe I should just pull out those old plans for that presentation case...
    MVC-915S.J