Are we coin collectors all a little crazy? posted by RAM-VT

[CSJournals-migration]

Or do we grasp for any straw to justify our OCD issues related to coin collecting?

 

I have written two posts dealing with the fact that I have recently entered the world of collecting ancient coins and sometimes I feel like I stepped into the twilight zone. The quirkiness of some of those I have "met" (only via email or posts at ancient web sites) has occasionally totally dumbfounded me.

 

The major issue with these collectors seems to be my preference for encapsulating ancient coins. Many of the comments I am hearing on this issue today as it relates to certifying ancient coins are almost identical to those I heard about 30 years when third party graders first started to certify U.S. coins. Many of the best and most respected dealers initially argued against third party grading claiming that the slabs interfered with their ability to touch and feel the coins particularly our colonials and earliest U.S. coinage which were already circulated and would not suffer from the occasional touching and this touching and handling (in their mind) makes the hobby that much more meaningful and enjoyable.

 

I on the other hand I welcomed the encapsulation but not the third party grading. My love for all things numismatic drives me to do all I can to preserve each and every item in my collection in the condition it was in the day I purchased it and to protect those items from any further degradation. I have dropped too many nice pieces or dropped something onto my coins only to have them gain one or more nick, dent or scrape. In fact the last time this happened I was packing up my most favorite Swiss shooting medal for certification and yup I dropped it. I picked it up and there it was the slightest little nick on the highest point of the obverse. It really stands out because the newly exposed silver is quite shinny in contrast to the nicely tone silver around it.

 

So here we are with these very serious collectors arguing against the encapsulation of ancient coins as if their life depended on so their ability to FEEL he coins. Then these very same collectors post pictures of the wear and damage done to their coins as they slide around in their coin cabinet's draw (tray) openings every time a draw is opened and close or the coin cabinet is move. Does this perceived need to touch/feel ones coins justify this continued degradation their coins which could easily be prevented? However, what really up sets me is that these collectors who take some perverse pleasure in the slow destruction of their coins so they can hold them treat me as if I am their enemy, in addition they will poke fun at and attack NGC for NGC's effort related to grading and authentication of ancient coins as well as NGC's encapsulating ancient coins. Why?

 

The very first time I ran into this argument that coins should be held in order to appreciate them I viewed it as a smoke screen. I my opinion many of those presenting this argument resented he fact that the opinion of some third party would be accepted over that of a well know dealer or collector. But to sound credible they did not attack the third party but rather they attacked the process and specifically that process that removed the tactile component of the hobby. I think that eventually the larger dealers got behind the third party grades because they could transfer any issued related to grade and/or condition to the third party grader. Let's face it, there was and will always be a perceived conflict of interest when the seller is also the one setting the parameters (in this case grade) by which the item for sale is valued.

 

I will continue to have my ancients certified; I feel it is best for the coin and best for the hobby. The certification process identifies fakes, provides unbiased grading and specifies any condition issues. In addition the encapsulation is a superior option to letting my coins slide around in a coin tray.

 

See more journals by RAM-VT

[The Fielding Collection]

I totally agree with you.

I do not collect ancient coins, but I do collect modern coins and to have a coin graded and encapsulated protects that coin for my lifetime and If my son decides to keep my collection tat 1995 S Jefferson nickel I have graded by NGC in PF70uc will still be a PF70UC in 50 years. yes I can never handle my coins but I never have been one to get my hands dirty sorting through the thousands of Wheaties I have that's why white cotton gloves were invented for.

Great post RAM-VT Happy Collecting and may God Bless...Mike

[RWB]

Yep.

[Mohawk]

I myself love NGC certification! You get a solid grade, guaranteed authenticity and the best protection for your coins money can buy!! Anyone, especially a dealer, who tells you that certification is something you shouldn't do typically has something to hide. A dealer that I used to frequent would frequently pooh-pooh Third Party certification and grading. He'd say to buy a Dansco and buy more coins. As things turned out, he would say this because much of what he sells turned out to be problem coins when sent in for grading. Cleaned, artificial toning, environmental damage....you name it. I bought a lot from this dealer in my earlier days as a collector, when my eye wasn't as good as it is now, and I lost a good amount of money on coins purchased from this dealer. In my mind, certification is a great thing.

[jpcienkus]

I agree with you Mohawk.

 

I got into this hobby slowly. I didn't know who to trust. I've always been wary about coin shop owners and where their interests lay. I know if you find a good one, they can be a great asset in your collecting, but finding a local one is the key.

 

I have complete faith in both NGC and PCGS. The TPG's, IMO, have opened up the hobby to many people who wouldn't participate otherwise. I prefer NGC to PCGS, but I will evaluate the coin in the holder and make my decision regardless of whether it's in NGC or PCGS plastic. These two companies has also made it easier to purchase coins from anywhere in the country.

[Texans Coins]

First, yes we are a little crazy. Who in their right mind would pay $100 for a 50 cent piece? (my hand is in the air as well.). That's why we have this great support group that encourages each other to continue being crazy.

 

Next, me personally, I like the TPGs because as much as I love my coin collection, I do not have the time or desire to become a numismatist along the lines of knowledge possessed by Q. David Bowers and others. NGC gives me piece of mind that my coin is genuine.

 

That being said, each crazy person's collection is their own. Your choice to encapsulate ancients is neither right nor wrong. What is wrong is someone condemning your collecting choices. That is what will keep people away from this great hobby.

 

That's my two cents. Enjoy embracing your coin collecting craziness.

 

Marcus

 

 

[RWB]

"NGC gives me piece of mind that my coin is genuine."

 

That is why the authentication services - ANACS to start - were formed, and it is the primary reason they continue to exist.