Sunday, September 19, 2010

JR Newsletter: 19 September 2010 (2)

We had a pretty healthy response with multiple contributions this week!  Here are the contributions from readers:

Stephen Fischer wrote:

As to the rant about price guides---they are only guides and if everyone only went by the guides then we wouldn't have to do any research and we would all be as smart as each other---but with the research that we all like to do, we find that some coins are worth far more than the guides would lead you to believe. Coins you never see anywhere, or in certain grades, or with certain breaks, cuds, etc. Therefore we are willing to pay a lot more in some cases than the guides suggest.  At this point we feel much smarter than everyone else, because our research and hard work has paid off.  So I say let the fine folks who know all and see all keep plugging in those numbers. I for one will keep on with my research and keep getting the deal of the century once in a while.  Stephen Fischer

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David Perkins wrote:

335 Lots of Counterstamped Coins in Stack's October Americana Sale!
For those who may not be aware of this yet, Stack's is offering 335 Lots of Counterstamped coins in their October Americana Sale to be held in Philadelphia September 30 – October 2, 2010. 
 I spent a couple of enjoyable hours last night viewing these and other Lots from the sale online.  It appears some of these counterstamped coins have been off the market for over 30 years; most for a long time.  There are a number of pieces not listed in the Brunk book, Merchant and Privately Countermarked Coins. 
Lots can be viewed online.  I'm told by a reliable source that the catalogs are being mailed this week. 
W. David Perkins
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Liz Coggan wrote:
Hi JRCS members:
Just a note to let you know, J.J. Teaparty will be conducting a sealed bid auction for an 1800 LIBEKTY LM-4, R-7 Draped Bust half dime.  This coin is very choice Fine in grade with claims to VF--in fact it could be argued that the coin is VF.  The sealed bid sale will be held at the November Whitman Baltimore Show on Friday afternoon at 2:00 pm.  We will have the coin on display at the show for anyone to review. 

Also if you plan to attend the Philly Whitman show and would like to see the coin there, I will have it there on display for you to look at.  Please feel free to call me or email me with any questions:  liz@jjteaparty.com  1-800-343-6412. I will try to get some photos posted so you can look at it on line.
(Editor's Note:  As of today, September 19th, there are no images of the coin available at JJ Teaparty's website)

Best wishes,

Liz Coggan
J. J. Teaparty, Inc
1-800-343-6412

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Mark Borckardt wrote:

In response to the rant from Dick Wells:
Please understand that the price guide editors at Coin World, Numismatic News, and nearly any other price guide you can name, have a nearly Herculean task. While collectors may specialize in a single coin series, or a small group of related series, the price guide editors have to be intimately familiar with every series that their publication handles, and that includes everything from 1793 half cents to 2009 and 2010-dated modern issue coins. For most collectors, such a task would seem daunting. While you are commenting on the price of Bust quarters, someone else may be complaining about the price of Saint-Gaudens double eagles, for example. And that is a series that changes every day. When a series like Bust quarters is considered, with prices largely unaffected by the daily price movement of gold and silver bullion, the price editors tend to be less proactive, and for good reason. The best thing that collectors can do is send positively written letters or emails to those price editors, asking that they review the prices in a given series. If they receive enough requests for any given series, they will almost be forced into a reexamination. Remember, however, that letters must take a positive or proactive stance.
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Brad Karoleff wrote:

Things have been very busy here in Cincinnati the last few weeks.  Coupled with a short vacation to NYC to visit my son there hasn't been much free time. 

I need submissions for the next issue of the JRJ.  Sound familiar?  We do not have anything on hand yet.  How about a review of the ANA?  Did any new members attend?  What were your thoughts and experiences?  You can float something here in the JR News and then send something to me for publication.

I'm sitting here in front of my TV thinking that I will never hear the end of things from Steve Crain and Richard Meaney after the Bengals get limping to the end of the game.
(Editor's Note:  All who follow football are well aware that the Cincinnati Bengals have been a non-factor in the NFL since the game on January 24, 1982)

On a numismatic note;  I began collecting the capped bust half dollars in 1978 by die marriage.  My original goal was problem free VF coins as my salary at the time was less than $2/hr!  Later I made XF my target grade.  I also set a minimum die marriage count of 400, later amended to at least 440 with a grade average of XF40.  I recently added the first NEW die marriage to my collection in over a decade with the purchase of an 1827 O137 which is my 440th die marriage.  I still "only" average a little over a VF35, but am pretty happy with the collection I have managed to build on a budget over the last 32 years. 

My point is that a new collector can begin a collection like the half dollars by die marriage with VF being the target grade and obtain 250-300 die marriages without paying over "type coin" price.  This is still a formidable collection and challenge if you are picky about the surfaces on your coins.  You may even be able to "cherrypick" a couple of rare die marriages for common prices if you study your Overton book carefully. 

Collecting the half dollars has been a very rewarding experience for me.  It has led me to this organization which has also been very fulfilling.  More importantly it has fostered many new friendships with other collectors with similar interests.  Where else can you meet someone who you can spend hours discussing not only numismatics, but the pros and cons of the Jefferson administration, the War of 1812, Jackson's removal of the funds from the Bank of the US and the subsequent world recession and many more items of interest? Jump in and become part of the group and see how much more you enjoy your collection!

Let's all work together to fill the inbox of Richard's for the JR News and the club's PO Box with submissions for the JR Journal.  We will all be richer for the sharing of the information.

Numismatically Yours,

Brad Karoleff

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Dennis Villanucci wrote:

Recently, I came across an interesting counterstamped 1806 Bust Quarter.  The counterstamp is partly worn off, but it appears to read "NC US".  Can anyone help in identifying this stamp?  The host coin is B-8, apparently an R6 with 20 or so pieces known.  The die crack at the lower left reverse is light, and has not yet formed the cud that occurs in the late die state.
(Editor's Note:  Dennis provided images of this coin.  I have attached a file to this message.  If you wish to view a larger version of the image, go to http://jr-newsletter.blogspot.com/ and click on the picture found there to enlarge it).
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From the editor:
1.  In response to Gary Rosner's request for information on 1829 LM-4 and LM-5 half dimes:  I have attached some images (coins that are mine or used to be mine).  The 1829 LM-4 is an XF-45 coin.  The 1829 LM-5 is an MS-63 coin.  The "jagged line" is there on the reverse of both coins.  I did note, when comparing various examples of the die marriage, that it seems that the "jagged line" is short on some coins and extends further/more upward on others.
Also, I can't tell from viewing the provided images if the obverse details suffered any ill effects from the condition of the reverse die.  I do recognize, however, that the obverse isn't the best-struck in the series.  It does have so-so details, in my opinion.  You will note on my coin that the reverse is very weakly-struck.  Take a look at the eagle's claws!

2.  I take the liberty to edit all contributions for spelling and grammar (to the best of my ability).  I think this enhances the readability of the weekly email.

3.  If you need a back issue of the John Reich Journal in order to "complete your collection" or replace a lost or damaged copy, please send me an email.  I am now the "official JRCS custodian" of all prior-year issues of the JR Journal.  Send me a note and tell me what you need.   I will check inventory and get back to you with what's in stock and the cost.



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Here are the images discussed in this week's newsletter (click on any image to open up a larger version that will help you to better see details):





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