gherrmann44

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Everything posted by gherrmann44

  1. The following is my personal take on points: 1. The method NGC uses to assign points is proprietary and a closely guarded secret. Thus, any of the explanations that have been given in this thread are purely guesses and opinions. 2. You can ask NGC to review and adjust their registry sets for higher points and NGC may raise the point value, leave the value the same, or in some cases lower the value. All this and NO explanation for their actions. Since you are not privy to NGC's methods, you take a real chance when you ask them to raise point values. 3. As for the competitive nature of the registry what difference does the amount of points make as long as they are fairly assigned within a particular registry set to everyone that has one. 4. Personally, I use the point system to gage the QUALITY of the coins in my sets. Thus, it is a great tool for me to measure my own progress and target certain coins for upgrades. 5. The overall points for the individual user are pointless. Currently I am in the upper 400's among all the collectors with sets, big deal! Really, what good is that except as a tool to measure personal progress. Ultimately, I will never be in the top tiers of collectors because I can't compete with the amount of money other people spend on their collections, so why try? 6. There are times that I scratch my head over the points system, but in the end I just go on and collect what I want and leave it at that. The registry and collection manager are great tools to organize and catalog your coins. That to me is the advantage of the registry. Gary
  2. Here are the other two coins I purchased: Gary
  3. In my last post, Buying and Selling Part 1, I described how I sold circulated gold coins to acquire mint-state gold coins. In this post I will talk more about the proceeds from the other sales to finance two upgrades and a new purchase. First the upgrades, and I'm not talking one or two grade points higher, but coins that are priced approximately six times higher than the coins they are replacing. The first coin is a PR-66 Three Cent Nickel replacing a common date MS-62. The other coin of which I previously wrote was too good to pass up, is an MS-63 Half-Cent replacing a common date AU-50. With most upgrades I prefer to subsidize the new purchase with the existing coin. However, because of the buying/selling ratio associated with the aforementioned coins, they might as well be stand-alone new purchases. Thus, these new purchases made it vital that I should sell coins that I was not replacing, such as the Silver American Eagles I referenced in my last post. I bought the PR-66 Three Cent Nickel coin from Gary Adkins Associates. Although I didnt originally intend to buy this coin, I got an e-mail offering a 5% Fathers Day discount through Garys website on his entire inventory. Well, I couldnt very well pass up an offer like that, so I decided to upgrade my existing MS-62 Three Cent Nickel coin. Since Three Cent Nickel coins aren't very popular with collectors, I was able to buy a high grade classic proof coin for a price that I could reasonably afford. As an aside many dealers sell the same coins offered on their websites as they do through their E-Bay stores. Since the E-Bay fees don't come into play on their websites they will often sell the coins for less on their website than they do through E-Bay. As I previous posted, the MS-63 Half Cent was an opportunity that I just couldnt pass up because of its brilliant toning and exceptionally strong strike. Furthermore, the E-Bay listing employed high quality listing photos leaving no doubt as to the coin I was buying. On most E-Bay listings with a best offer option, I almost always submit an offer. However, since this was a PQ coin and I didnt want to give anyone else an opportunity to snap it up, I gave him his Buy it Now price. Talk about an upgrade, this coin is replacing an AU-50 with poor eye-appeal! It very literally was a no-brainer. The new purchase was VF-30 1814 Classic Head large cent. I have been looking long and hard for this type before settling on the coin I finally purchased. Searching through E-Bay and auction house listings I discovered that for various reasons Classic Head large cents often have impaired surfaces. Classic Head large cents are in relatively good supply, but non-problem coins are scarce and thus very expensive. In fact, there are a lot of good buys out there for common date problem coins. However, considering my collecting goals, I was not going to buy a details graded coin of this type for my 7070 set. Considering the amount of money I wanted to spend on this type, I finally settled on purchasing a Classic Head large cent in either VF or XF condition. That decision further narrowed the number of coins available. Other issues impacting my choice included the quality of strike and eye appeal. In the end there were three coins I was considering, an 1810 VF-20 in an upcoming Heritage auction, an 1810 XF-40 through Great Collections, and a 1814 VF-30 on E-bay. All three coins had pluses and minuses associated with them and I had to decide which plus was the most important. The first coin eliminated from contention was an 1810 VF-20 Classic Head Large Cent currently listed in Heritages upcoming summer FUN auction. The-pre auction bidding rose to a point where the coin approached the asking price of the 1814 VF-30. Pure economics eliminated this coin as I thought why buy a VF-20 coin when I could have a VF-30 for a similar price. This narrowed my choice to two coins, the 1810 XF-40 and the 1814 VF-30. The 1810 featured visible star lines on 10 of the 13 stars, clean fields with lots of luster, and very little wear on the reverse. With all that going for it, this coin still lacked one very important thing in that there was noticeable weakness in the four locks of hair between Libertys eye-brow and ear. On the other hand, the 1814 has good facial details and displays all four of Libertys locks while there was only one lock clearly visible on the 1810. Additionally, the 1814 has reverse wear consistent with its grade. When deciding on which coin to buy I determined to buy the coin with the best bust features. Thus, would I pay $700 more for an XF-40 coin with weaker hairline features or a VF-30 coin with a little more reverse wear and better hairline features? In the end I decided that I needed to be happy with the coin and I made a best offer on the E-Bay listed 1814 VF-30. Now that I have that coin in hand, I am all the more convinced I made the right decision. Interestingly, the 1810 did not sell the first time around on Great Collections, perhaps suggesting that there were others with the same impression of the coin I had. The coin did finally sell though in a subsequent auction with a single bid. In closing, I hope you all get the coins that you really want! Gary See more journals by gherrmann44
  4. In my last post, Buying and Selling Part 1, I described how I sold circulated gold coins to acquire mint-state gold coins. In this post I will talk more about the proceeds from the other sales to finance two upgrades and a new purchase. First the upgrades, and I'm not talking one or two grade points higher, but coins that are priced approximately six times higher than the coins they are replacing. The first coin is a PR-66 Three Cent Nickel replacing a common date MS-62. The other coin of which I previously wrote was too good to pass up, is an MS-63 Half-Cent replacing a common date AU-50. With most upgrades I prefer to subsidize the new purchase with the existing coin. However, because of the buying/selling ratio associated with the aforementioned coins, they might as well be stand-alone new purchases. Thus, these new purchases made it vital that I should sell coins that I was not replacing, such as the Silver American Eagles I referenced in my last post. I bought the PR-66 Three Cent Nickel coin from Gary Adkins Associates. Although I didnt originally intend to buy this coin, I got an e-mail offering a 5% Fathers Day discount through Garys website on his entire inventory. Well, I couldnt very well pass up an offer like that, so I decided to upgrade my existing MS-62 Three Cent Nickel coin. Since Three Cent Nickel coins aren't very popular with collectors, I was able to buy a high grade classic proof coin for a price that I could reasonably afford. As an aside many dealers sell the same coins offered on their websites as they do through their E-Bay stores. Since the E-Bay fees don't come into play on their websites they will often sell the coins for less on their website than they do through E-Bay. As I previous posted, the MS-63 Half Cent was an opportunity that I just couldnt pass up because of its brilliant toning and exceptionally strong strike. Furthermore, the E-Bay listing employed high quality listing photos leaving no doubt as to the coin I was buying. On most E-Bay listings with a best offer option, I almost always submit an offer. However, since this was a PQ coin and I didnt want to give anyone else an opportunity to snap it up, I gave him his Buy it Now price. Talk about an upgrade, this coin is replacing an AU-50 with poor eye-appeal! It very literally was a no-brainer. The new purchase was VF-30 1814 Classic Head large cent. I have been looking long and hard for this type before settling on the coin I finally purchased. Searching through E-Bay and auction house listings I discovered that for various reasons Classic Head large cents often have impaired surfaces. Classic Head large cents are in relatively good supply, but non-problem coins are scarce and thus very expensive. In fact, there are a lot of good buys out there for common date problem coins. However, considering my collecting goals, I was not going to buy a details graded coin of this type for my 7070 set. Considering the amount of money I wanted to spend on this type, I finally settled on purchasing a Classic Head large cent in either VF or XF condition. That decision further narrowed the number of coins available. Other issues impacting my choice included the quality of strike and eye appeal. In the end there were three coins I was considering, an 1810 VF-20 in an upcoming Heritage auction, an 1810 XF-40 through Great Collections, and a 1814 VF-30 on E-bay. All three coins had pluses and minuses associated with them and I had to decide which plus was the most important. The first coin eliminated from contention was an 1810 VF-20 Classic Head Large Cent currently listed in Heritages upcoming summer FUN auction. The-pre auction bidding rose to a point where the coin approached the asking price of the 1814 VF-30. Pure economics eliminated this coin as I thought why buy a VF-20 coin when I could have a VF-30 for a similar price. This narrowed my choice to two coins, the 1810 XF-40 and the 1814 VF-30. The 1810 featured visible star lines on 10 of the 13 stars, clean fields with lots of luster, and very little wear on the reverse. With all that going for it, this coin still lacked one very important thing in that there was noticeable weakness in the four locks of hair between Libertys eye-brow and ear. On the other hand, the 1814 has good facial details and displays all four of Libertys locks while there was only one lock clearly visible on the 1810. Additionally, the 1814 has reverse wear consistent with its grade. When deciding on which coin to buy I determined to buy the coin with the best bust features. Thus, would I pay $700 more for an XF-40 coin with weaker hairline features or a VF-30 coin with a little more reverse wear and better hairline features? In the end I decided that I needed to be happy with the coin and I made a best offer on the E-Bay listed 1814 VF-30. Now that I have that coin in hand, I am all the more convinced I made the right decision. Interestingly, the 1810 did not sell the first time around on Great Collections, perhaps suggesting that there were others with the same impression of the coin I had. The coin did finally sell though in a subsequent auction with a single bid. In closing, I hope you all get the coins that you really want! Gary To see old comments for this Journal entry, click here. New comments can be added below.
  5. Very well then, I'll go this route for the centennial celebration of our independence struck in white metal: Gary
  6. That's all fine and dandy, Roger, but what relief do the rest of us have? Maybe PCGS has a cure for him. Chris This thread would have been zapped ATS by the end of page 1. Gary You had to mess up the surprise, didn't you! Chris Oop's Sometimes I'm a little dense. Gary
  7. That's all fine and dandy, Roger, but what relief do the rest of us have? Maybe PCGS has a cure for him. Chris This thread would have been zapped ATS by the end of page 1. Gary
  8. Not long ago I posted My Collector Profile and expressed my affinity towards type collecting. Subsequently, I reviewed my entire collection for coins I could sell, and with the proceeds I bought several coins that I am really excited about. As a part of that review, I looked to upgrade a few circulated gold coins to mint-state condition. The first was an Indian eagle from XF-40 to MS-63 and the other an Indian Head half-eagle from AU-55 to MS-62. Finally, I upgraded a type-2 gold dollar from AU-50 to AU-58. The other part of my review involved doubles and coins I no longer collect. Of the coins I no longer collect were a 2011 Silver American Eagle anniversary set and a 2008 reverse of 07 SAE. Years ago I lost interest in SAEs and sold most of the SAEs I owned. However, I held onto the reverse of 07 just in case I ever decided to start collecting SAEs again. Today, I saw this coin as an opportunity to buy something I really want. Thus, I sold the coin at roughly double the price I bought it. With the 2011 SAE anniversary set I got caught up in the hype, first purchasing it directly from the mint and then turning around to have it graded by NGC. Out of five coins graded, only two came back as 70s, but of those two coins the one was the reverse proof. Now, as with the reverse of 07, I saw selling these coins as an opportunity to buy the coins I really wanted. Incidentally, I more than doubled my money on this set also. In the past when it came to selling coins, I have either sold the coins myself on E-Bay, traded or sold coins with another collector, or consigned the coins to an auction. This time however, I decided to sell the coins through NGC Collectors Society user Yankeejoses E-Bay store. In the end, I thought I got the best price possible on E-Bay for the coins I sold. With the price of gold reasonably low, I am selling the circulated gold coins I bought before the price of gold rose to over $1000/oz in order to buy the higher grade coins I prefer. Though the current market interest in my circulated gold coins is not what I would have liked, I can still sell the three aforementioned coins for a small combined profit. Over the years I found that MS gold coins perform a lot better than circulated coins when the price of gold goes higher. Thus, I feel that in todays market higher grade gold coins are somewhat of a bargain which in part is the reason I am upgrading these select coins now. Even still, there are other gold coins in my collection that I'd like to upgrade. However, Ill have to wait on those because I bought them when the price of gold was much higher. One option is to buy the higher grade coins now and hold onto the others to sell at a later date. The problem is that I dont currently have the financial resources to pursue this option. Notwithstanding, I may yet decide to do this, but for now upgrading MS-62s to MS-63 and perhaps 64 is not a high priority. Unfortunately, most gold coins grading MS-63 and below have low eye appeal. The problem much like with Morgan Dollars is contact marks and hairlines. When it comes to nice looking common date gold coins figure on grades north of MS-64 with a price tag to match. On other coins such as the type 2 gold dollar you're looking at a hefty price tag for any mint state coin. Thus my new gold coins are about the best I can afford in terms of eye appeal and grade. Type 2 gold dollars are notorious for being poorly struck and the coin I bought is no exception. The advantage I gained by upgrading my previous coin is in a little more frosty luster on the reverse devices. On the obverse the legend is especially weak but there is a little more detail in Libertys hair just above her eyebrow. Furthermore, there is frosty luster in the protected areas of Libertys head piece. Both the 2 1/2 and 5 dollar Indian Head gold pieces look nice to me in lower mint-state grades. The incuse devices distract my eyes from any significant marks in the fields, especially on the coins obverse. Thus, I am very happy with an MS-62 example of the half-eagle I bought that goes up significantly in value in grades MS-63 and higher. The Indian Head eagle suffers from being larger and heavier. Since the coin is much larger and the fields are more open, contact marks are more critical to this coin's eye appeal. The MS-63 eagle I bought gives me value in that the marks for the grade are not significant enough to be distracting even though I could have bought an MS-64 example of this coin. I will talk about my other purchases at length in part two of this post. Until then, happy collecting! Gary See more journals by gherrmann44
  9. Not long ago I posted My Collector Profile and expressed my affinity towards type collecting. Subsequently, I reviewed my entire collection for coins I could sell, and with the proceeds I bought several coins that I am really excited about. As a part of that review, I looked to upgrade a few circulated gold coins to mint-state condition. The first was an Indian eagle from XF-40 to MS-63 and the other an Indian Head half-eagle from AU-55 to MS-62. Finally, I upgraded a type-2 gold dollar from AU-50 to AU-58. The other part of my review involved doubles and coins I no longer collect. Of the coins I no longer collect were a 2011 Silver American Eagle anniversary set and a 2008 reverse of 07 SAE. Years ago I lost interest in SAEs and sold most of the SAEs I owned. However, I held onto the reverse of 07 just in case I ever decided to start collecting SAEs again. Today, I saw this coin as an opportunity to buy something I really want. Thus, I sold the coin at roughly double the price I bought it. With the 2011 SAE anniversary set I got caught up in the hype, first purchasing it directly from the mint and then turning around to have it graded by NGC. Out of five coins graded, only two came back as 70s, but of those two coins the one was the reverse proof. Now, as with the reverse of 07, I saw selling these coins as an opportunity to buy the coins I really wanted. Incidentally, I more than doubled my money on this set also. In the past when it came to selling coins, I have either sold the coins myself on E-Bay, traded or sold coins with another collector, or consigned the coins to an auction. This time however, I decided to sell the coins through NGC Collectors Society user Yankeejoses E-Bay store. In the end, I thought I got the best price possible on E-Bay for the coins I sold. With the price of gold reasonably low, I am selling the circulated gold coins I bought before the price of gold rose to over $1000/oz in order to buy the higher grade coins I prefer. Though the current market interest in my circulated gold coins is not what I would have liked, I can still sell the three aforementioned coins for a small combined profit. Over the years I found that MS gold coins perform a lot better than circulated coins when the price of gold goes higher. Thus, I feel that in todays market higher grade gold coins are somewhat of a bargain which in part is the reason I am upgrading these select coins now. Even still, there are other gold coins in my collection that I'd like to upgrade. However, Ill have to wait on those because I bought them when the price of gold was much higher. One option is to buy the higher grade coins now and hold onto the others to sell at a later date. The problem is that I dont currently have the financial resources to pursue this option. Notwithstanding, I may yet decide to do this, but for now upgrading MS-62s to MS-63 and perhaps 64 is not a high priority. Unfortunately, most gold coins grading MS-63 and below have low eye appeal. The problem much like with Morgan Dollars is contact marks and hairlines. When it comes to nice looking common date gold coins figure on grades north of MS-64 with a price tag to match. On other coins such as the type 2 gold dollar you're looking at a hefty price tag for any mint state coin. Thus my new gold coins are about the best I can afford in terms of eye appeal and grade. Type 2 gold dollars are notorious for being poorly struck and the coin I bought is no exception. The advantage I gained by upgrading my previous coin is in a little more frosty luster on the reverse devices. On the obverse the legend is especially weak but there is a little more detail in Libertys hair just above her eyebrow. Furthermore, there is frosty luster in the protected areas of Libertys head piece. Both the 2 1/2 and 5 dollar Indian Head gold pieces look nice to me in lower mint-state grades. The incuse devices distract my eyes from any significant marks in the fields, especially on the coins obverse. Thus, I am very happy with an MS-62 example of the half-eagle I bought that goes up significantly in value in grades MS-63 and higher. The Indian Head eagle suffers from being larger and heavier. Since the coin is much larger and the fields are more open, contact marks are more critical to this coin's eye appeal. The MS-63 eagle I bought gives me value in that the marks for the grade are not significant enough to be distracting even though I could have bought an MS-64 example of this coin. I will talk about my other purchases at length in part two of this post. Until then, happy collecting! Gary To see old comments for this Journal entry, click here. New comments can be added below.
  10. My new half-cent is perhaps the most gorgeous half-cent I have run across. I wasnt looking to buy this 1835 Half-Cent piece, but I came across it searching e-bay listings and couldnt pass it up. Fortunately, the coin it replaces in my collection was targeted for an eventual upgrade. In the new piece I get exceptional color and a very strong strike. In other words this coin has exceptional eye appeal. It also fits my plans to add the best looking coins for the price I can afford into my 7070 Type set. Gary See more journals by gherrmann44