World Colonial

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About World Colonial

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    I was posting here when you were in diapers.

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  1. If that's a "cherrypick", that's quite a find. I also understand NGC will evaluate it.
  2. Lot of variety in Roman's something on my list to consider if I ever decide to "move up" the complexity scale of collecting. Others are Byzantine silver and bronze, Crusader and medieval Europe. Definitely interesting and challenging. But I don't really have an active second "go to set" now as I believe you do for interim "action" when I cannot find anything. I prefer to buy my coins at auction. My comments were specific to this one firm. Not sure why they required a deposit, as it's not like the amount I was asking to bid was material. I'll buy my coins from dealers but I will usually have to pay more, since most of the coins they have come from the same auctions I compete in. As an example, one dealer has a coin where I was the under bidder last year. They paid somewhat less than $3k for it and are now asking almost $6k. Same coin in the same holder for over double the price. It's probably the best one of this date/denomination combination in existence but I think it's overgraded. If I get a second chance to buy it near the last auction sale, I'll probably buy it but no way at anywhere near their ask price. My guess is that they will hold on to it looking for the right buyer but I think they will have an almost impossible time getting their price, unless a prospective buyer is unaware of the prior auction result. They also have a second coin I want where I was one of the under bidders but their ask price is also too high, as it's the most common date from this denomination (in higher quality) and I am also dubious of the assigned grade. The coin previously sold ungraded (where I missed it) for around 15% of their ask price before they bought it in the TPG holder. They had it for about six months, couldn't sell it, offered it through another auction firm where it failed to meet their reserve and it's back on their website at a slight discount to their initial price. I suspect it will sit indefinitely, as I don't think it's worth what they paid for it. I'll buy it if I can get it close to my initial bid, around 75% of their cost. Otherwise, I'll just wait another 5+ years for another one.
  3. Thanks I have no realistic prospect of completing anything other than denomination sets by mint. This was my goal prior to making this series my first priority. Earlier this year, Spanish auction firm Cayon sold a mostly complete set but the quality was very poor, by US standards. I am primarily buying Lima and Potosi coins because Guatemala is both too expensive for my budget and not available. Of the approximately hundred coins for these two mints in all four denominations, there were a handful of high quality coins, two 1754 Peru half real I would grade better AU (and probably TPG eligible) and a Peru 1753 4R that I would grade AU details. I didn't bid because Cayon insisted on a deposit and I didn't want to bother with it. The coin I actually wanted to buy the most was the 1763 Peru 2R that I would grade VF details. A nice coin but with surface issues. I'll probably regret it later, as there is a good chance I'll never see some or many of these coins again, problems or no problems. Other than this collection, Patterson (sold by Bonhams in 1996) is the only other I know that was mostly complete. I own most of the better quality date/MM combinations in the NGC and PCGS populations, though there are opportunities to upgrade. Of those available, I believe there are nine I don't have. Also aware of a few ungraded examples out there which I either missed or was outbid.
  4. Spanish colonial pillars, by far. Of the five denominations, I don't actively buy the 8R unlike most collectors. The entire broader series totals about 400, excluding varieties. . All four mints for all four minor denominations range from quite to extremely difficult to complete. Due to the number of coins (20), Potosi (Bolivia) is the easiest to complete but not in any decent quality. Outside of Mexico, the minor denominations are disproportionately damaged or very low quality. Many of the dates are almost impossible to buy at all.
  5. Accuracy and completeness require a lot of work. In the coins I almost exclusively buy now, I only recently was able to find mintage data. Krause doesn't include it for most listings and in some (or many) instances, it might not be available at all.
  6. I have expressed the opinion that the best explanation for the relative price between gold and other metals (especially silver) is that gold is viewed as a money substitute while the others really aren't. Gold's current value certainly isn't based upon it's utility since unlike silver, platinum and palladium most of it is in bar or coin form. On this coinage generally, I have also commented that I don't believe that most buyers are primarily (if at all) buying it as a collectible but for financial purposes. Except for the 70 grades, it's a relatively low premium option with additional potential financial upside. It's my opinion that the "real" collector base for any of these issues is very low, maybe in the hundreds at most. If this is correct, these "low" mintages aren't really that low. None of these coins are remotely actually scarce and it is invalid to compare the mintage to other coinage, especially circulating series. As an actual collectible, it should be self evident that even at current depressed prices, these coins are hopelessly uncompetitive versus any non-NCLT in a similar price range. I am aware that a low number of the earlier AGE sell for high premiums even below a 70 and I'd also guess that many who buy it hope for a similar outcome.
  7. I don't see how it can ever be in the ballpark either. There are too many coins which sell infrequently, whether in grade or otherwise and it will never be economical for most of the values to be anything other than a guess. The problem is, I don't think that most collectors know that most price listings are anything other than just made up. Here are some examples: Coins listed that either do not or likely do not exist: South Africa Union 1933, 1934 and 1936 business strike farthings. The 1936 is in dispute, as NGC has four listed in the census. The mintage is supposedly three but South African collectors don't fully accept these coins. The 1953 "matte proof" crown is another. South African collectors have never heard of it and it isn't listed in any local guide. Bolivia 1882 and 1889 50 centavos might be another. Coins which either have not sold at all or in the listed grade: Krause lists the South Africa 1931 florin in "UNC" at $1250. NGC only recently graded an MS-63 and I wouldn't buy it without a second opinion, as there are instances where proofs have been graded as business strikes. Regardless, the has probably never sold publicly (there appears to be no record of it) and this equally applies in lower listed grades. Krause also lists value in multiple grades for the 1752 Peru 4R. According to Brad Yonaka's recent volume, a single coin is believed to exist. Gilboy lists it as an R5 (1 to 3 known) but apparently, he couldn't find one in the numerous auction catalogs listed as references. Patterson and Norweb didn't have it either. Attribution accuracy would be nice but ultimately, I don't see why anyone who has bought one version will ever need a second since the price listings are worthless anyway. That is, unless they collect modern NCLT. I have no intention of updating my 1998 ever.
  8. I own a hard copy of the 18th to 20th centuries and all are in storage. Initially back in 1998 when I resumed collecting, I used it to determine what was available to collect once I decided it wouldn't be US coins. It is useful for attribution but not otherwise. I'd curious to know your definition of "doing it right". I see no prospect that it will be remotely "accurate" or useful as a value guide. The prices are just made up and it will never be economical to even attempt to publish prices for over one million price points updated with any frequency. I presume from accounts I have heard that collectors believe it has been mismanaged since it was acquired. My suspicion is that it's mostly because their business model became outdated and no longer relevant in the internet age.
  9. A few inferences from what I see in the data I have reviewed and comments on coin forums. My initial post would be an example of "other" I suppose. I am a series collector but don't have a realistic prospect of completing it. I suspect for other collectors, "other" includes thematic collecting. For US collectors who predominantly collect 20th century US classics plus the Morgan dollar, there is no point in collecting below MS unless they can't afford it. Except for key and somewhat less for semi-key dates, the price difference isn't "material". In many instances, the surviving quality distribution makes it impractical to collect XF or AU grades. Many series have a disproportionate percentage of (very) low quality survivors with a noticeable though low proportion of higher grade examples. Barber quarters and halves are examples. Gold isn't affordable to the overwhelming percentage of the collector base. For US collectors, common silver classics are overwhelmingly preferred over moderns. Based upon sales volume, the Heritage archives indicate that US collectors may prefer US coinage by a factor of at least 10-1. Many US collectors collect both but the Heritage data also includes buying by non-US collectors who I don't believe collect US coinage hardly at all.
  10. The poll doesn't really enable me to provide answers either. Currently, I have one primary area of interest but now, I doubt it will change going forward. But it's because of the challenge in acquiring coins and by challenge, I am not referring to the current US definition which I don;t consider a challenge at all. My goal isn't to complete the set because I doubt I can but even if I could, I wouldn't buy dreck just to do it. I also don't buy based upon eye appeal using the quality standards of most US collectors because there isn't hardly anything available. I try to buy AU or MS coins if available but also buy lower circulated and in some instances, even "details" coins as long as it looks decent. It isn't the type of set which would interest hardly anyone else.
  11. I don't buy $8500 coins but I have lost more than a few times myself. Every time I did, I obviously liked the coin but not remotely enough to potentially get "buried" in it. The coins I collect aren't widely held and getting into a bidding war can put you way over likely value in a hurry, a market value which you won't really even know.
  12. Under the eBay system, they may also block you. Most might not care and wonder why anyone would want to buy from the same seller again but it might happen. I bought from a well known prior forum member here who has been selling on eBay for years. I had several transactions with them with no problems. This was all for graded coinage. I then bought an ungraded coin relying on their images and my perception of their reputation. When I received the coin, it wasn't terrible but I contacted the seller to return it. My messages were ignored, including through this forum. I was subsequently blocked for leaving a neutral.
  13. Make sure you can the return the coin or if you cannot, that you actually want it. Otherwise, you are probably better off buying it in the grade you want from a reputable TPG.
  14. It is an option but my opinion is that it would disproportionately result in "fire sale" prices or the coins not selling. Using this option, what I would do is consign a relatively small portion of the collection and see what happens by comparing the results to my estimate of value and dealer offers, if any. I don't believe any auctioneer is going to take the time to list thousands of low value coins as individual lots. No money in it for them for the time it will require. The only possibility I can see for any auction company accepting an 11,000 coin collection of this estimated value in its entirety is if they offer it in bulk lots with the size of the lot depending upon the composition and quality, whether the collection is sold at once or split up over several auctions. If the lots are large, the only likely bidders will be dealers with maybe a somewhat better price due to the competition. For smaller lots, there might be collector interest. Under either, almost certainly still at massive discounts to the Krause list or even actual retail. I have heard that these auctions do sometimes result in inflated prices due to ignorant buyers (purportedly disproportionately non-collectors just buying something) but I wouldn't expect it. For most collectors, eBay is a better option since you can return the item if you don't like it and can't usually perform a personal inspection.