Why Coin Collecting Is Great in PA 1 1

[VKurtB]

This Saturday, the 19th, yet another great "in person only", no Internet bidding, coin and note auction in south-central Pennsylvania. Actually, it's one of two, but the one I'm going to is nothing short of great. 53 classic U.S. gold pieces, an ANACS small slab XF45 1795 Flowing Hair dollar, a raw 1798 Bust Dollar, a 1799/98 Bust Dollar (13 star) in a Capital Plastics Holder with box, and an 1801 Bust Dollar.

Those aren't my specialty areas, but in mine, I have identified 25 potential "targets", and I'm not halfway through the sheets yet. At the likely prices, if and when I snag 3 or 4 lots, my budget will have been spent. 436 lots total, all classic U.S. series. Very little modern except some gold not included among the 53. There's a lot of mundane condition in there, but there are some nicer pieces interspersed. This is so not unusual in south central Pennsylvania. In fact, there's another great coin sale going on right now here, which I can't get to due to other obligations. You have to get to know the auctioneers, and who has an "optimistic eye" on his grading, but once you put that work in, this place is coin nirvana.

Alabama needs to step up its game to keep me happy there.

Edited September 17, 2020 by VKurtB

[World Colonial]

I have read your similar posts before.  My inference is that what you describe is mostly limited to the Northeast.  Higher population density of families who have lived in the area for a long time.  Most of the rest of the country seems to have a much larger proportion of short termers.

Some interesting stuff for a local small town (?) auction.

[VKurtB]

32 minutes ago, World Colonial said:

I have read your similar posts before.  My inference is that what you describe is mostly limited to the Northeast.  Higher population density of families who have lived in the area for a long time.  Most of the rest of the country seems to have a much larger proportion of short termers.

Some interesting stuff for a local small town (?) auction.

There is so much "fresh material" in this neck of the woods, it's almost embarrassing. Much of it held for 50-100 years, in some cases.

[brg5658]

9 minutes ago, VKurtB said:

There is so much "fresh material" in this neck of the woods, it's almost embarrassing. Much of it held for 50-100 years, in some cases.

But it can't be so - PCGS claims all the coins worth owning are already in their holders. 

[VKurtB]

13 minutes ago, brg5658 said:

But it can't be so - PCGS claims all the coins worth owning are already in their holders. 

THAT is the damnedest stupidest thing anyone ever said anywhere. Typical for PCGS. 

 

Just because MOST of PCGS' business is crack-out and resubmit, doesn't mean it all is. Some of what I buy on Saturday may very well cross our esteemed hosts' threshold.

Edited September 17, 2020 by VKurtB

[coinsandmedals]

Wow, it sounds like you have a nice setup where you are. You very well may find Huntsville a bit disappointing. I spent two years there while I earned my master’s. There is not much in the way of numismatics from what I remember, but I could be entirely wrong. I barely made enough money working for the Institutional Review Board to pay the rent, much less seriously pursue numismatics.

[VKurtB]

12 minutes ago, coinsandmedals said:

Wow, it sounds like you have a nice setup where you are. You very well may find Huntsville a bit disappointing. I spent two years there while I earned my master’s. There is not much in the way of numismatics from what I remember, but I could be entirely wrong. I barely made enough money working for the Institutional Review Board to pay the rent, much less seriously pursue numismatics.

I'm putting a lot of faith in the Madison County (AL) Coin Club to keep me entertained numismatically. That and having FUN shows a lot closer. I need a budget airline to add HSV to their route map. Spirit? Allegiant? Southwest? Billy Bob's? [Okay, that last one was just mean.] I think the Interstates between Huntsville and Chicago will become well-known to me.

Edited September 17, 2020 by VKurtB

[VKurtB]

CROSSPOSTED FROM ANOTHER THREAD:

Just a few days ago a Federal District Court in Pittsburgh struck down almost all the "mandatory" COVID restrictions put in place by Pennsylvania's Governor Wolf. He retains jurisdiction over actual state business, but the judge smacked him around fairly well over his ability to restrict rights to assemble and to attend worship services. High school football is, at least for this week, open for crowds in Pennsylvania.

Wear the mask.

But remember, this is Pennsyl-frickin'-vania here. The Bill of Rights was WRITTEN here, in temporary digs rented from my employer.

[brg5658]

Gack....but you'll have to live in Alabama. 

[VKurtB]

3 minutes ago, brg5658 said:

Gack....but you'll have to live in Alabama. 

Alabama, whose State Constitution contains about 900 Amendments. It is the most lengthy written Constitution in the world.

[RWB]

11 minutes ago, VKurtB said:

Alabama, whose State Constitution contains about 900 Amendments. It is the most lengthy written Constitution in the world.

...and possibly the least observed.

[VKurtB]

Just now, RWB said:

...and possibly the least observed.

It's remarkably lacking in big ideas.

[Alex in PA.]

1 hour ago, VKurtB said:

CROSSPOSTED FROM ANOTHER THREAD:

Just a few days ago a Federal District Court in Pittsburgh struck down almost all the "mandatory" COVID restrictions put in place by Pennsylvania's Governor Wolf. He retains jurisdiction over actual state business, but the judge smacked him around fairly well over his ability to restrict rights to assemble and to attend worship services. High school football is, at least for this week, open for crowds in Pennsylvania.

Wear the mask.

But remember, this is Pennsyl-frickin'-vania here. The Bill of Rights was WRITTEN here, in temporary digs rented from my employer.

I thought that there protest, armed and angry, would be enough to sett Governor Woof's tantrums.  I guess a little kick in the pants by the court was an added measure.  

[VKurtB]

10 minutes ago, Alex in PA. said:

I thought that there protest, armed and angry, would be enough to sett Governor Woof's tantrums.  I guess a little kick in the pants by the court was an added measure.  

For all we know, the Third Circuit might issue a stay on the ruling, but they haven't so far. So Pennsylvanians, enjoy your larger sized gatherings this weekend if you have the need. It may not last. I feel a sudden need to take in a high school football game. And a kickbutt coin auction.

Edited September 17, 2020 by VKurtB

[World Colonial]

On 9/17/2020 at 3:08 PM, VKurtB said:

THAT is the damnedest stupidest thing anyone ever said anywhere. Typical for PCGS. 

 

Just because MOST of PCGS' business is crack-out and resubmit, doesn't mean it all is. Some of what I buy on Saturday may very well cross our esteemed hosts' threshold.

Not that I consider it often accurate, but PCGS Coin Facts estimates contradict this thinking also.  Even though some coins in the highest grades have been resubmitted multiple times, there is still a large gap between the estimates and the populations, often or most of the time.  

The best example I can think of is the 1802 half dime where the combined population is 14, excluding any PCGS "details" (which if any aren't available for viewing) and including duplicates (3 NGC AU-50?).  The estimate is 35-40 and it's my understanding someone purportedly compiled an itemized census about 75 years ago.  So while some could have been lost, shouldn't be close to that many.

Previously in a Coin Week article, Jeff Garrett made a similar claim though he wasn't specific.  He's been around for a long time and presumably has more direct knowledge than most but Harvey Stack contradicted him by responding to the article.

As many coins and large collections as Garret has seen, I think Stack is right.  He's presumably seen more.

[Henri Charriere]

[This time next year, to my colleague's eternal amusement, I am going to take a shot with, "Why Coin Collecting is Great in Ms."  If there is anything worth finding, I will ferret it out the same way those American Pickers do.  And if VKurtB is scrounging around in Neshoba County, no problem, I will outbid him.  I might even bring a few hitherto unknown tokens for Just Bob to pore through, just for drill, for his unique collection.]

[VKurtB]

5 hours ago, World Colonial said:

Not that I consider it often accurate, but PCGS Coin Facts estimates contradict this thinking also.  Even though some coins in the highest grades have been resubmitted multiple times, there is still a large gap between the estimates and the populations, often or most of the time.  

The best example I can think of is the 1802 half dime where the combined population is 14, excluding any PCGS "details" (which if any aren't available for viewing) and including duplicates (3 NGC AU-50?).  The estimate is 35-40 and it's my understanding someone purportedly compiled an itemized census about 75 years ago.  So while some could have been lost, shouldn't be close to that many.

Previously in a Coin Week article, Jeff Garrett made a similar claim though he wasn't specific.  He's been around for a long time and presumably has more direct knowledge than most but Harvey Stack contradicted him by responding to the article.

As many coins and large collections as Garret has seen, I think Stack is right.  He's presumably seen more.

For all of Jeff Garrett’s experience, he gets all his information from the major show circuit, and presumably his own neck of the woods, Kentucky. If you spend virtually every week where you spend every week, you get a skewed view of the whole field, and I’m telling you that anyone who doesn’t see central Pennsylvania is missing something exceptional. Massive amounts of fresh material, most of which has never been in plastic. Of the four early dollars in this sale, only one is slabbed, and that one hasn’t seen a TPGS in over 25 years. But all are in the XF range. The “traditional wisdom” says if great coins are not slabbed, there’s a reason. And there is, just not the one people think. These collectors don’t often let their stuff out of their sight, even by registered mail to Southern California or the Florida Gulf Coast. There is no increased liquidity to be gained by having stuff slabbed, either. This is a fully liquid coin market, and the buyers know how to grade for themselves. The place is loaded to the gills with active coin clubs, coin dealers, and even major houses. Remember Steinmetz? CNG? Yup, both will have buyers at typical sales here. This one doesn’t have CNG type of material, though. Some of the most important collections that “come out of nowhere” are assembled in central Pennsylvania. 

[Cat Bath]

1 hour ago, VKurtB said:

 The place is loaded to the gills with active coin clubs, coin dealers, and even major houses.

Do you think these folks go to Pittsburgh or is that not something they're interested in.

[VKurtB]

50 minutes ago, Cat Bath said:

Do you think these folks go to Pittsburgh or is that not something they're interested in.

I’ve attended some as far west as Johnstown.

[Zebo]

Haven't thought about attending a auction in central PA. Been to a couple shows - both were good. This should be a good time for interesting items to be coming out as they are inherited. I was just up in Altoona - but wasn't thinking coins. 

For you PA football fans - which I am not watching anymore because of the rotten politics that has created in - did you know that the Eagles and Steelers once had to merge and become one team called the Steagles?