O mint bug

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About O mint bug

  • Boards Title
    Collector is an understatement.
  1. Going to Mexico in the 1960s and trading greenbacks for Morgan's and Peace dollars.
  2. I guess you would have to put common stocks in with his bottom ten since the DOW was 10,000 in 1999 and is now only 18,000 16 years later. High end stamps and coins have very much outperformed the Dow. Ole Dave must have bought his coins on Ebay and stamps by the sheet at the Post Office. A quick look at what quality rare coins have done on H.A.com will show you what his comments are worth. Like anything else high quality coupled with low pop and time wins. I paid $525 for a strong full horn Buffalo from a dealer in the mid 1970s and I doubt it could be bought for 15x that. Ditto on a AU 1937 D three leg Buffalo in EFI boght for $50. Sold em when I was starting a family and buying a house in 1992 when the coins shops had folded up because the hobby was dead at a nice profit. I am bullish long term on quality coins and a few early U.S. high end stamps. Foreign investors are coming in the market and baby boomers are selling their 1960s cars and buying higher end coins now that they can afford some. The common and modern material are probably stagnant to down but not the high end and this won't change. Frankly I think the best time to buy quality assets is when many others want to sell. I saw several people come to the southwestern U.S. ( Texas ) and buy good real estate during the 1980s when the oil bust hit. They all made a very significant amount of money.
  3. O  mint bug

    New to Numismatics!

    I would spend the money on one coin like a 1918/17 D Buffalo as opposed to modern material. Too much around. I cannot think of one nice coin ( low pop ) in the best grade I could afford that did not go up in value over time. I am also a big believer in focusing your collecting on a specific set of coins ie Buffalos and patiently buy the best you can get over time. Focus on the key dates from a quality standpoint. Before long you will learn the specific coin and see a nice collection coming together.
  4. This makes no sense. This would actually be counterproductive to PCGS's sole goal of making money. If you have two respected services, would you send to the company that would grade it most generously when the spread between grades is large or the one that is going to be stingier and potentially cost you hundreds or thousands of dollars? This makes no sense. This would actually be counterproductive to PCGS's sole goal of making money. If you have two respected services, would you send to the company that would grade it most generously when the spread between grades is large or the one that is going to be stingier and potentially cost you hundreds or thousands of dollars? It would depend on if it was a seller (dealer) and they thought it would possibly upgrade or cross to PCGS if the market perceives them to be the tougher grader and the coin command a premium as it is on some types of coins. As an owner/collector I keep it simple as I buy only the coins I am happy with in their present holder and will not pay a large premium just for a green sticker. If you get a cross or an upgrade on an expensive coin then you have a coin that generally would sell at a premium to your cost, sometimes at a large spread on expensive coins. I don't subscribe to the CAC being a coin god or either TPG. A good example is a PCGS AU 58 1851 O just went for a bit over $15,000 plus the buyers premium, well below the price guide. A slap to both PCGS and CAC. It should have as the coin was not appealing and seemed to have quite a bit of wear for a 58. Dealers represent a substantial amount of the TPG business and CAC guys and it is them that get catered to as opposed to the collector. That is what PCGS wants to have everyone feel they are the premier holder to have but I doubt it will work. NGC has graded far too many extremely rare coins like a 1913 V nickel for this to happen. Again it is to attract dealer ( large repetitive submissions ) business and they are good at spotting under graded coins as well as well struck coins that should and do command a premium relative over cost. They package them right before selling them. On a final note many times they do not crack the slab but send it with the provision that it should be cracked only to cross or upgrade to avoid the downgrade of a downgrade. Based on the initial post PCGS does seem to be getting tougher on Morgan's based on what I read but I do not collect or know them. Why crack the slab or allow an grade change unless it is for the better?
  5. I hate to hear about this type of loss. Frankly I think PCGS is tightening up their grading standards to be the "Holder of Choice ". I think it is a marketing campaign and is somewhat effective. PCGS is a publicly traded company and is not covering their dividend with cash flow from operations. There is enough cash on hand to pay it for a while. Thereafter they will have to cut the dividend, which is the kiss of death for their stock price and their CEO. If they cannot become the " elite " TPG then it will be trouble in a couple of years. I was a banker for over 30 years and unless this changed I would not loan them a dime CAC or otherwise.
  6. O  mint bug

    "Legend" report

    About a year ago there were two 1855 o Double Eagles were up for auction by Heritage. They were shown side by side and both graded AU 55s by NGC. The NON CAC coin brought just over $9k more than the CAC coin. In this case the non CAC coin was a better looking piece. I agree it is all about eye appeal not just grade or grader. I don't have the respect for CAC some others do. I just look at the coin and make my decision. Sorta like a beauty contest in that if there are there ladies left standing and three guys watching chances are non of the guys would agree on number one.
  7. I had a friend that got caught in all that fun at DFW. In Houston all was clear with no ice or bad weather. I would take a flight to Houston and then get out to LA. Southwest is great and leaves for Hobby every 30 minutes but you need to depart out of love field in Dallas and avoid DFW. I used to fly to Dallas from Houston about three times a month. Always southwest. I don't like Dallas as I have been there and during the day I was there the temperature dropped 60 degrees. Dallas is where the wagon train broke down. Gotta show here 3/15 and 16.
  8. Nice coins. I really like the 1913 Buffalo. I had a complete set, including a nice full horn 18/17 D. Sold em to finance a portion of the house I raised my kids. I don't want to know what the 13 s' the leg 17/18 D and overdate are worth now. All were very nice and full horn coins with little to no apparent wear. I paid $525 for the overdate, $50 for the three leg Buffalo and $75 for the type one and type two Buffalos. That was in 1974. Who says coins are not a good investment as long as the pop and condition are in your favor. Thanks for showing.
  9. The best way to make money is buy a quality coin that has good eye appeal and a low pop. The higher the grade the better. I cannot think of any coin that fits this description that has not done very well over the long haul. One that comes to mind had and sold is a 1978/17 D Buffalo that was a well struck full horn coin. it would now sell for about 20 times what I paid. Same as a three legs 1937 D Buffalo in au ungraded at that time. I paid $50 for it and $525 for the overdate. The 1937 D trades well over 20 times what I paid. Quality with eye appeal and a low pop will win over the long haul. One reason is the baby boomers are selling their 50s and 60s dream cars and are now collecting coins. I fit that bill. Bought a 1957 T Bird for $2,700, restored it for about $7,000 and sold it for $18,000. Sold out to early as the car in good shape all original is a six figure car. Same result just a different asset. I look at what good double eagles sold for 15 years ago. I just wish I would have put the t Bird proceeds into a nice 1855 O.
  10. O  mint bug

    What You Need To Know: Inherited Coin Collections

    One thing I feel is forth mentioning is the tax aspect. If you are given a rare coin by say a grandparent prior to their death your cost basis is what they paid for it. If you inherit the coin then your tax basis is the fair market value of the coin upon the death of the person you got the coin from. An example - Your grand father paid $100 for a Mercury 1916 D dime. If given to you prior to his death your cost basis is $100. If you inherited the coin and at the time of death the coin was worth $700 your cost basis is $700. If you opt to sell the coin for $700 you would pay no tax on the sale if inherited whereas if the coin was given to you a $600 capital gain would be created and you would pay tax on the $600 gain.
  11. O  mint bug

    Expensive Coin on Ebay

    Yes. Very surprised. A coin like this will get much more exposure prior to sale if auctioned.
  12. O  mint bug

    NGC Grading

    I would send it raw or without a slab. Can't say which grading service is tougher on this type of coin but you cannot go wrong with either NGC or PCGS as both have graded millions of coins and dominate the industry. To get an idea of which TPG service is tougher on a particular type of coin look on ha.com and type in the face amount, date and mint mark in the search engine. Then click on the information below the coin that is close to yours ie XF 40. A second page will appear giving you the number of each TPG has slabbed. If one has graded 65 in EX 40 and the other 22 then I would go with the tougher grader or the one with the lower number slabbed. The reason is the coin will trade at a slight premium from the grader with the lower number slabbed in a particular grade. I own coins by both as I collect only coins not holders. You will need to register with heritage to get the numbers graded by both graders buy it is at no cost and provides a great source of information.
  13. O  mint bug

    Large cents

    I am considering buying a few pre 1800 large cents. The 93 won't be one of them. Can anyone recommend a good dealer and what grade I should consider. I am not going to pay a significant amount of money and as a result I am interested in the type and date of the coins that are reasonable. Heritage had some but I don't know the set and the pictures difficult to determine if the coin is as good as it looks. All comments regarding these coins are welcome and appreciated. One date I am very interested in is the 1794.
  14. O  mint bug

    NGC/PCGS

    Can't remember. I now have a bevel on the axe. I wish I had the time to count someone's number of post. Read it and I think you could begin to get the initial start on a bevel if you do in fact collect. The above could help you as many of the people that post about coins and types they collect have helped me. If you don't collect coins that need to be slabbed I would just disregard it. It is intended for the collector that wants a few but nice coins.