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JTO

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Journal Entries posted by JTO

  1. JTO

    1916 Mint Set Finished!

    By JTO,

    1916 a great transitional year.
    I finally finished my 1916 mint set. It has two great 20th century Key date coins, the Liberty Standing Quarter and the Winged Liberty (Mercury) Dime. I have pictures for each of the coins. Although there was no ranking benefit to adding pictures, I personally enjoy looking at my fellow collectors' sets more when the included pictures of the coins. As the saying goes "A picture is worth 1000 words".
    I don't know if this link will work but I'll give it a try. It is a link to my mint set, I welcome comments, criticism and insight.
    John
     
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=185101&Ranking=ngc

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  2. JTO
    What a time the THREE GSA employees had going through and classifying all of those CC dollars.
    First, I love the "Soft Packs" because they remind me of my youth when I collected the 1971-73 40% silver soft packs. The 40% Ikes were like a time warp back to the days when you could collect actual Silver, Silver dollars. I must have close to fifty of the various blue packs now. Yes that may cross the line from collecting and move in to hoarding. But many of the soft packs I have come by when buying a complete collection intact and then I just kept the soft packs.
    For the CC soft packs, the person (one of only three people) responsible for sorting all the GSA... Government Services Administration... looked at this coin and saw something that made her or him think that the coin had circulated. Frequently the characteristic that tipped the sorter's opinion of the coins grade or condition to the Circulated soft pack and not in the Un-Circulated, Black Hard Pack was toning. The toning came from the canvas bags, the vault environment or the coins 100 years of conditions that the coins were in prior to the big GSA distribution.
    In those days (the 60's and early 70's) the top grade was BU ... brilliant un-circulated and any toning was by definition not brilliant. Many coins fell prey to us collectors trying to make beautiful naturally toned coins brilliant. Alas, this coin escaped with just a sneer as to its grade but no damage from someone like me attempting to make it Brilliant.
    Not an expensive coin, not a rare coin but for me a fun coin. And after all isn't that what our Hobby is about?
     
    John

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  3. JTO

    A rare coin

    By JTO,

    Number 1 of my top 10 rare coins... in no particular order.
    I have previously posted about how freely the word RARE is used about particular coins when they come to auction. To me if there are 20 examples of a particular (rare) coin in a single auction it really begs the question: How do they define rare? One of the most glaring examples of this is also a coin many of us dreamed of owning as a kid and a few of us were lucky enough to find in pocket change: The 1909-S VDB Lincoln Cent.
    The 1909-S VDB Lincoln Cent is frequently, I mean really frequently, offered at auction with the catalog author waxing on about how the coin is a lustrous example of the key date of the Lincoln series. This drives me crazy. On the platinum night there may be 4 examples in MS-65 Red or better. Then in the live auction there are between 10 and 20 grading from AU-55 up to MS-65 and in the subsequent automated auction there will be another 8-15 graded from Good up to a plethora of problem coins. Its not necessary to single out the 1909-S VDB for all this abuse, as the 1877 Indian Cent fit the same profile almost identically, with the exception that the grades for each auction are slightly lower. These are not rare coins they are simply expensive coins. If you have enough money you need not wait longer than the next auction at your disposal.
    So with all that negative commentary what do I suggest IS a rare coin? First, a disclaimer: as a fan of the New Orleans Mint, and since that is a focus of my collecting, I may be over emphasizing coins from New Orleans. But, that said, however about 1838-O no stars half-dime. Although there appear to be as many as 150 that have made it problem free into slabs, when you take into account all of the re-submissions, the actual number of coins is probably closer to 80 problem free, gradable examples.
    I literally spent years waiting for an affordable and problem free example to come to market. I would regularly check Heritage, Collectors Corner and occasionally even eBay. Sure I could have gone to Legend Numismatics for the single MS-66 example but it is priced that well over 60,000 dollars. When the pictured example showed up on the Internet I tracked it back to the Liberty Coin website and snatched it up for ~$1000 dollars below recent auction archive results.
    This coin, because of its rarity, poses a number of challenges both for the dealer and collector. If you walk up to a dealers table and (as I attempted once) grandiosely open your offer with I am willing to pay full Red Book, i.e. retail value, you will likely be treated to a round of laughter and told you should go by the coin from the Red Book. The problem is, that the coin comes to auction or sale so infrequently that it is difficult to track its actual value. I was fortunate that the folks at Liberty Coin did not go to the Heritage website to do an auction archive search on the coin. Because I had been searching for an 1838-O no stars Half--Dime I was up to date on the auction results and lucked out on the price.
    Sorry for the rambling post. I was just trying to share a bit of my perspective and passion.
     
    Thank you for reading,
    John

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  4. JTO
    What a journey this coin has had.  I bought it from Stacks in March 2012 as: "1923-S Standing Liberty Quarter. AU Details--Environmental Damage (PCGS)."  I looked at the coin as said I just don't see the damage but I do see a full head.  I bid up to $1,375.00 for the problem coin and took it home.  Then I CAREFULLY conserved to coin.  About a year later at Long Beach I took it to PCGS (because NGC had no at show grading) and  show graded it.  It came back in a PCGS AU-58 FH.  I was quite pleased with myself.  Subsequently, as the war between NGC and PCGS got going I decided to cross it to NGC.  So, at the 2015 FUN show I decided to wait in line to "Ask the Expert" (Mark Salzberg) who opined that the coin should not be in an AU holder.  I told him that a 60 something without full head was a loss to me, as I cared more about the FH designation than the grade.  He said it was clearly a full head and he wrote on the holder MS-61 FH and signed his name,  I asked, meekly, if the coin might still come back in a "details" or non-FH holder?  Salzberg patiently explained that what he wrote would be the grade period, he is the final word at NGC.  I must say he was kind and respectful and his passion and care for the hobby came through clearly.  So the journey for this coin has been:...Raw to PCGS AU details environmental damage... to PCGS AU-58 FH and finally thanks to Mr Salzberg... it rests for good in an NGC MS-61 FH.  The pictures are here you be the judge...
     



  5. JTO
    The number of replies gives a barometer of the value of the journal post.
    I too was saddened by the removal of the reply option on the Recent Journals section that were posted on the left side of the registry screen. I would gauge the quality of one of my posts based on the number of replies it received. I don't want to go searching through the chat rooms nor will I. I really enjoyed some of the posts, especially those with pictures, There on the left of my registry Control Panel screen each day. Now that I cannot reply I find that I don't pay as much attention to the posts, because why should I? No it is not just about what I have to say. I really enjoyed the back-and-forth discussions that were frequently engendered by an excellent post. It gave collectors the chance to interact with some of the finest Numismatic researchers of our day (i.e. RWD: Roger W. Burdette).
    PCGS is gone. Fine, that was a business decision, but I did you have to cheapen the Recent Journals section. Is it to save money? If not as one user I will say that the change has made the Recent Journals section worse, less than it was, not as good as it had been and for what I ask?
    Please put it back. Otherwise is just one more reason not to mess with the whole registry game on NGC.
  6. JTO

    An Actual Rare Coin

    By JTO,

    So many coins when offered at auction (especially daily coins) are touted as being Rare... Scarce... Low Mintage and the verbiage goes on. Most of these are not even close to being rare.
    I have given thought to writing in article about my top 10 rare United States coins. I'm not talking about this 1792 half disme, or the 1796 no stars $2-1/2 gold piece, these coins are ones that I will never be able to afford.
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  7. JTO
    Another "Problem Coin"
    Here is another "problem coin". I think that the picture is worth a thousand details or adjectives. If I had an unlimited budget I would buy all mint state and ultra cameo coins. But if reality was not an issue I would just go back in time and get one from Mr Rittenhouse at the mint hot off the screw press. Since neither of these is going to happen I like my problem coins and have some fun wondering about just where they have been and what they have done to get in to such trouble?

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  8. JTO
    I bought a set of $2.5 Indians in a capital plastics holder where they have been in my bank until now...
    I agreed to buy a set for 10K form a "friend" who had bought them from an estate. When it came time to do the deal, I looked at the coins and what the $%#&*! I said I remembered them in a black holder and in better shape. Now I find out that there were 2 sets and the first set, the one that got me worked up, he said had already sold. I was not happy. The second set was not at all like the first. Each coin in the first set had had rich luster, so I remember... The second looked about AU at first glance. I offered 7K and he came back with 7.5K. It was housed in a BLUE capital plastics holder and I had to try to grade the coins on the fly. All I really focused on was the 11D. It had the wire rim that is diagnostic of the real deal so I was okay there and look to be a AU-58 or MS-61 or 62. Now almost 10 years later I finally decided to find out how I had done with my pig in a poke. I took all the coins to the Dallas ANA for NGC to grade but only PCGS was doing "on-site" grading, so I submitted the 11-D and 14 to PCGS and sent the rest to NGC. I guess it was not a bad deal after all.
    To see the entire set go to http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=188559
    I had a total of 5 out of 15 come back "improperly cleaned" and after careful review I actually agree with 4 of those 5. the 5th coin will go to PCGS or I will just sell it raw.
    Here is the run downof the original 15 coins is submitted:
    1908 AU "improperly cleaned"
    1909 AU "improperly cleaned"
    1910 MS--62
    1911 MS--61
    1911--D MS--61 (PCGS)
    1912 AU "improperly cleaned"
    1913 AU--58
    1914 AU--58 (PCGS)
    1914--D AU "improperly cleaned"
    1915 MS--62
    1925--D MS--62
    1926 Unc "improperly cleaned"
    1927 MS--63
    1928 MS--64+ (of course the most common date)
    1929 MS--62
    What does the term "buying a pig in a poke" refer to? The word poke means bag and if I am not mistaken, the phrase is English and refers to the open markets were one could by a piglet in an unopened bag. The term came to connote buying something without knowing what you're getting because crooked farmers would substitute a cat or dog which had little or no value as consumable meat for the pig.

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  9. JTO
    Here for modern coins that, I think, have investment potential. Shhh don't tell though.
    This is a continuation of the thread that was started about a week ago. We were talking about ordering mint sets and sending in a handful of coins to try to get a few top population for grade. If you order 10 mint sets (~$30 per set with shipping) that's $300. If you submit 2 coins from each set that will add on an additional $15 per coin minimum, that adds an additional $300. So we are up to $600.
    For just a little bit more you could by a mint state First Spouse gold coin. I think these are the real sleepers of the modern commemorative series. Consider that several so far have had mintage numbers under 2000!!! Not 2 billion, 200 million, 2 million but 2 thousand. The grey sheet on the MS L. Garfield first spouse is 1425 bid, 1525 ask. For VanBuren's Liberty its roughly $1100 mint state or proof.
    Time will tell...
    JTO

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  10. JTO
    I think starting competitive sets for so-called dollars would be a win-win for collectors and NGC alike.
    Coins that are at the top grades for their type, date, and mint mark are becoming quite expensive, whether they are modern issues or 18th Century coins. So-Called Dollars have remained relatively affordable even or top population coins. NGC is a leader in grading these coins in assigning the appropriate Hibler and Kappen (HK) designation. By opening repetitive sets in So-Called Dollars NGC would open the Registry to more people and allow for serious competition with a lower price tag.
    The above description is how the collector would benefit. I think that the Numismatic Guarantee Corporation would benefit by #1) like world coins making this in NGC only registry, #2) would encourage the submission of So-Called Dollars that are not currently graded to NGC and #3) would step ahead of their major competitor, as they have in world coins, with So-Called Dollars.
    Just a thought after I purchased the 1901 Pan American Exposition official medical (So-Called Dollar HK--289). I made the purchase simply because I find the token beautiful.
    John

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  11. JTO

    Confluence of Collectors

    By JTO,

    This coin is not a top pop, nor a high value or even a coin of striking beauty.  Why would I buy it?  It is an intersection between a man who was one of the most infamous collectors and a man who was the most accomplished US coin collector.
    The infamous man is King Farouk of Egypt who conspicuously collected coins en-mass.  He is responsible for the legality of the only 1933 double eagle that is legal to own.  That particular 1933 double eagle was exported by Farouk who actually applied for an export license which was mistakenly granted in 1944 (shocking that the Federal government screwed up...)  The Fed's realized their error and tried to get the coin back from Egypt but WWII intervened and efforts were paused.  Farouk was subsequently overthrown and his coins seized by the People of Egypt and auctioned in London.  The US attempted again to get the coin back but it again disappeared until it was found in the possession of British coin dealer Stephen Fenton.  After some haggling by the Fed's agreed to an auction and in a 6 minute flurry away it went from Sotheby's New York to an anonymous bidder for $6.6 million, plus the 15-percent buyer's premium, and my favorite part an additional $20 to the US Treasury to "monetize" to coin (making it the only [legal tender] , legal to own 1933 double eagle.)  The $6.6 million hammer price was split between Fenton and the US government.
    The most accomplished coin collector is of course Lewis E. Eliasberg Sr. who accomplished a task that will never be repeated.  He collected one of every US coin, by date and mint mark from 1792 to the date of completion circa 1950.  He too had a 1933 double eagle, but not the same the Farouk specimen.  When Eliasberg learned that the coins were considered contraband by the US government he turned his in to be melted at no charge to the government.  Some of his more notable coins were the 1933 double eagle, a 1913 Liberty head nickel and his last coin to complete his set a 1873-CC no-arrows Liberty seated dime.  Two caveats to the Eliasberg collection: 1) he selected the best coins he could find but did not collect proof coins as separate from circulation Philadelphia strikes and 2) he had no 1849 double eagle of which only two were minted.  One  of the 1849 double eagles resides in the Smithsonian National Coin Collection and the other was lost to history.  However, based on the fact only 2 were minted the 1849 $20 is considered a pattern rather than a circulation coin and thus not needed to complete his collection.
    This Coin: provides an interesting intersection between the two.  The obverse of this common Egyptian 20 Piastres displays King Farouk and the pedigree shows that this coin was owned by Louis Eliasberg.  An interesting side note is that the 20 Piastres was before and after 1938, a silver coin.  Only in 1938 was it made of gold in honor of the King's wedding.

    John

  12. JTO
    1934-S S$1 in MS-65 or should it be 64.
    I must admit that the coin might have graded a 64 if it were a Philadelphia issue. I think that the key or semi key dates get a slight "benefit of the doubt" so that the grading services can keep them their holders. This, i my opinion is more common with the Heritage-PCGS connection but I could be wrong... what do you all think?

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  13. JTO
    I just got the coin and noticed the doubling on STATES OF AMERICA.
    This looks like strike doubling to me. Primarily due to the linear direction of the doubling rather than rotational. The doubling is toward the 12 o'clock position rather than to the left of each letter. What do you all think?

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  14. JTO

    Fake 1893-S

    By JTO,

    Let's move on...
    What is the difference you ask? Okay I will again play the straight man and set you up for some insane response.
    Long Red Arrows show tight cluster of curls on the real coin with wide rivers between on the fake
    Short red arrows show fine detail in the hair on the real coin
    Gold arrows show sharp lettering on the real coin and fat lettering on the fake.
    There are so many OBVIOUS sign that this is a fake it is sad. But as a collector who values this forum I 1) want to educate my fellow collectors if I can 2) use this space productively and in the spirit of the hobby and 3) get rid of at least one of the 3 consecutive postings reading "1893 S, Silver Dollar, Morgan.
    My diagnosis is that the pictured Fake is in fact a silver round, that is a 1 ounce silver token.

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  15. JTO
    I finally found an acceptable 1860 P $5 half eagle to add to my 1860 mint set.  Oddly the 1860 D (Georgia) issue if far more available.  By mintage figures for the two issues, ~20k vs.~15k, are comparable.  The Charlotte is in the 15K range and rarely seen while the San Francisco is at 21k specimens minted and a tough find.  Here is my new addition...

    John

  16. JTO
    Has NGC begun net grading coins?
    First, I apologize for the delay in posting the results, I am a working guy and cut busy with my "day job".
    Thank you all for your thoughtful and insightful comments. Many of you identified correctly that there are rim bumps at the 11 o'clock position and 2 o'clock position.
    My dilemma is this: Based on all of the grating standards that I've been able to find this coin should grade VG and could possibly even grade Fine. My understanding is that the grade is based primarily on the amount the coin's wear. In different series the sharpness of strike also plays a role usually to add a positive attribute if the coin is well struck (i.e. full head designation for Liberty Standing Quarters, full split bands for dimes, full bell lines for Franklin half dollars...)
    The conundrum for me is that both PCG S and NGC state that they do not "net grade" coins. If the coin is a problem coin then it is listed as "unable to grade" and then assigned a "Details Grade" using the adjective (i.e. VG details) without a numerical score. This allows "problem coins" to be used in the NGC registry. There "problem coins" are given a value of one half of the lowest number for the category (for example a corroded coin that has uncirculated details gets one half of the score a "no problem" MS--60 coin would get. For people new to the hobby the ANACS historically would take into account problems and assign a "net grade" based on the underlying grade of the coin and the severity of the problem.
    Although the difference is minor, as I looked at the coin I saw a Very Good or maybe even Fine-12 coin that was under graded. Now I am curious as to whether in fact NGC assigned a "net grade" based on a Very Good to Fine coin with rim damage. If so based on their grating policy they should have called the coin out as a problem coin and assigned to details grade.
    I welcome your input as to whether I should return the coin to NGC to be re-graded. In my opinion it is clearly better than a "Good--6" unless they're calling it a problem coin in which case that should have been stated on the holder.
    Again I thank you for your thoughtful comments and I await your insights.
    John

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  17. JTO

    I am at #7 Overall and no idea how I got here

    By JTO,


    Registry and NGC
    I have been collecting since I was 8 years old and turn 61 in 2 weeks.  I had the usual starts and stops but for the most part my collecting was always there for me.  I got more serious about a few series in 2013 when I got a new job and needed to escape to my coins.  By way of back ground I am a Trauma Surgeon and have seen suffering, death and dying on a daily basis.  Coins have ben my escape, my safe place, after God it is were I go for peace (this sounds weak and whiny but it is what it is.)  My first passion is as a type collector of pre-1964 US coins.  My set is not number 1 nor will it be but respectable at number 4 currently (https://www.ngccoin.com/registry/competitive-sets/90973/).  I got interested in putting together a set of nice Liberty Standing Quarters (SLQ) in an album, and did, but along the way picked up certified coins that I broke out for the album and the some that I just could not break out... Thus started my SLQ registry set (https://www.ngccoin.com/registry/competitive-sets/138325/) at a less respectable #12.  With this set I have sought eye appeal and full heads (holder designated or not) over grade numbers and points.  i.e. my 1919-D is a 58 FH that I replaced a 64 flat head with.  And I love the 20 Cent series, short and sweet.  I spent 7 years chasing my 1877 with cameo appearance, now #3 (https://www.ngccoin.com/registry/competitive-sets/185444/).
    My point is that the registry Mark Salzberg and the great staff of the NGC registry have reenabled my passion of albums, both the cardboard and the virtual (registry.)   The NGC Registry is like a virtual Dansco or Whitman or Intercept Shield album.  I find that for me the coin is only fully in the NGC Virtual album (registry) once I have photographed it and placed a cropped photo in the set on which I am working.  The decision to again accept PCGS in addition to NGC makes NGC in general and Mark Salzberg in particular the bigger and better grading company, registry and man/collector.  My main point is that with 53 years of collecting NGC has been instrumental in helping me to keep collecting and my wits about me. Thank you.
    Thank You Mark ,Thank You Registry staff and Thank You NGC for being inclusive (not PCG exclusive) and fostering our great hobby.
    How did I get to # 7, very slowly with no goal to get there.
     
    John
     
     
     


     

  18. JTO
    I have always had my eye on reaching 1 million points but never really thought I would get there.
    I have a strong predilection for New Orleans coinage. So it seems fitting that the coin the put me over 1 million point mark was a New Orleans issue. I have been looking for this coin in and circulated condition for the past 8-10 years. After careful analysis of auction records there are probably less than 20 truly Mint State examples in the market. Many have come to the auction block multiple times; they have had hammer prices for MS-62 examples range from $4500 to > $10, 000.
    The 1838--O half dime was, potentially, the very first circulating coin to be produced by the new Branch Mint in New Orleans. For whatever reason, it appears that unlike many other first issue coins, this one was not saved or set aside. This may be because concurrently there was the 1838--O dime. It had both a larger mintage as well as being the larger coin. Because the designs are essentially identical it might of made sense to save the dime and not worry about saving any examples of the half dime.
    Regardless of the reason the 1838-O half dime is rare in any grade but particularly uncommon in Mint State condition. I've lost this coin at auction more times and I care to remember, has the bidding rose above my comfort zone. This time I put in my bid on Heritage Live and walked away for the computer. When I could wait no longer I found that not only had I won the coin but for the reserve, that was less that the last time it changed hands. I have added it to my custom New Orleans issue type set. And, by adding it to my feeble half dime set it bumped my overall point total over the 1 Mil mark.
    As a self-admitted coin nerd I know that this must seem pretty sad that something like this would register and an actual milestone for me. But there you have it in all my nerd glory and what a coin!

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  19. JTO
    Improperly Cleaned or Improperly Graded
    Some of my most beautiful coins are Improperly Cleaned (problem coins). If you look at my (JTO) 1792-1964 type set and view the pictures of the 1793 wreath large cent and the Capped Bust Half Dollar I think you will see what I mean. I think, in some respects we, as collectors, have lost our way. The grading services have hijacked our hobby. Numismatics is a form of art albeit within historical contexts. With the registry system "collectors" seem to prefer an ugly MS-61 over a beautiful AU-58.
    Your posting raised an important question based on the subjective nature of the grading process. The real question is not how we should educate ourselves on identifying the possibility of a gentle cleaning occurring over 100 years ago (one that leaves no hairlines, does not disrupt the luster or SIGNIFICANTLY alter the coin's appearance); the question is how do we get the major grading services to use a more reasonable set of standards.
    I have some of the same experiences with the grading services as you...
    1909-S Indian Cent ICG AU-58 Details corroded... I CLEANED with acetone and it became a 1909-S Indian Cent PCGS AU-58.
    An 1893 Isabella 25c NGC body bag "Altered Surfice" became PCGS MS-63
    I really enjoy the registry game and I wish there was more emphasis on the coins in the sets rather than just the holders the coins are in.
    John

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  20. JTO
    Grading services, especially PCGS, seem to give a pass to high ticket or marque coins.
    I tried this once before but it got bogged down on the peripheral issue of the role of the auctions houses in this issue. It drives me crazy when I send in a perfectly good coin and get it back "code 92" or improperly cleaned or maybe that's code brown. Here is another shining example of a coin that is er... Proof-61?
    Or should it be Proof Unc details?
    The upper red arrow shows a protected where the abrasive cleaner could not reach and the lower arrow show the "hairlines" or improper cleaning marks on Liberty's leg. These features eliminate the possibility that these are just highly reflective die polishing marks.
    What if this were a 1983 Kennedy half with the same surface, what do you think the grade would be?
    John

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  21. JTO
    Which coin would you pick?
    I paid a bit of a premium price for this coin that, unfortunately, happened to be in a PCGS holder with a CAC sticker. These slabs attract the wrong kind of bidder... the investor. (I am of course joking, kind of). After writing about, "Problem Coins", the thread went to the question of what a person is buying: the coin or the slab? I think when it comes to these better type coins or rare date coins, IN GENERAL, you get more coin for your money for a coin in a NGC slab. It seems to me that the investors like the PCGS coins especially if they are CAC sticker-ed. I bought this one because of the nice creamy original look. There was an NGC 1874 Arrows 50c in a 64 holder for less. In this case the 64 coin may have had slightly better surfaces (technical grading) but it was blotchy and had dirt in the recesses. I bought the coin I liked better and am happy with it, I just wonder what the prices would have been if the coins were in opposite holders. Maybe I am too cynical and the other bidders were all bidding just on the looks of the coin like me. I will never know. Which coin would you pick? (the left is the 63 and the one on the right is the 64)

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  22. JTO
    When describing the diagnostic wire rim on a 1911-D $2.5 Indian I was told that it was just a manufacturing defect (See bought a pig in a poke)
    In a previous thread about my purchase of a set of gold $2.5 gold Indian coins a pithy comment was made that the "wire rim on a coin is a manufacturing defect". With due respect to RWB, a wire rim is not, in my opinion, a manufacturing defect. First, if it were it should be listed as a Mint Error, it is not. The most well-known example of a coin catalogued not only with this trait in the red book but it is listed separately based on the presence or absence of a wire rim. The coin is, of course, the 1907 $20 High Relief gold piece by Augustus Saint-Gaudens.
    The wire rim occurs when a new die is used with a full planchet. The amount of gold, silver or whatever metal used in the planchet fills all of the devices and body of the coin with enough additional metal to have a small amount flow (under pressure the metal becomes fluid) out around the collar. A wire rim is created. It is found it usually occurs in very early die states or some proof coins. Sure, you could call it a manufacturing defect, but it is most often seen as a desirable trait. The wire rim may disappear over time with wear (the coin had it but it wore off or as the dies wear and as the metal flows there is no longer more metal than the dies can hold.
    To the original point: the vast majority of the 1911-D gold $2.5, strong D coins have a wire rim. I have never seen a 1911-D gold $2.5, strong D without it. This is also a difficult attribute to counterfeit accurately. And so my comment that it is a diagnostic to look for. Yes, if it is not there it does not automatically mean that the coin is bad, but if it is there it is a good sign. That's all...

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  23. JTO

    just another problem coin

    By JTO,

    When does is a coin go from having where to having a "scratch"?
    This poor excuse for a coin has been given the scarlet letter of numismatics, the details grade with the NGC purple insert. Exactly when the coin goes from having where to being "scratched" it is not clear to me. I brought this coin because its dreaded defect is essentially unnoticeable in hand. What do you think?

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  24. JTO
    I have tried for years to crop circles, that is Coins...
    Finally I have got cropping the circular coin down. To those of you who are Photoshop savvy this is dumb as dirt, but I just could not get my programs to do the job. All computer/digital picture are saved in pixels which are square. So cropping a square is easy but a circle is another issue. I tried to search on line a couple of years ago and got a ton of hits on "crop circles"... like aliens and corn fields. But I finally got the real Photoshop and puttered a bit and voila. I have a long way to go to get to the quality of some of you but this is a start.
    17599.TIF
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  25. JTO
    This is truly an original original. There has been a great deal of study on the sequencing of these dollars. One of the relatively early revelations was that the name below base, which was always assumed to have preceded the name on base, actually was a re-strike. During the original striking in December 1836, the first coins were struck. Only those of the earliest group are free from diagnostic die cracks and clash marks. This coin is free of one of two of the earliest die state changes. The first is a die chip in the denticles peripheral to the second A in America on the reverse. The second is a die clash that extends upward and outward from the eagle's right wing. See June 2009 Numismatist Pg 55 by Dannreuther & Shalley. The upshot is that this is probably one of the first ~400 coins minted. The weight is 416 grains and is of .892 fine silver (January issues and restrikes are made with he new standard .9 fine silver with a weight of 412 grains.) NGC declines to opine as to Original versus Restrike stating there is not enough data to make that determination. After the research leading up and the review of the Dr. Korein collection there is ample data to make these determinations and both PCGS and ANACS do!. I am not a fan of PCGS but here they have NGC beat. The coins here is in remarkably good condition, given that they were released into the hands officials and citizens.