JR Newsletter: 17 July 2016 (302)

We have no new contributions for this week's JR Newsletter.  Perhaps a Baltimore show report for next week (hint, hint)?

JR Newsletter: 10 July 2016 (301)

David Perkins wrote with this week's only contribution:

I purchased a nice group of 13 Capped Bust Half Dollars this week, all in AU grades, and some with CAC stickers.  The dates range from 1807 to 1827, with many overdates.  Included are examples of the popular 1823 Broken 3 and Ugly 3 in PCGS AU55.

 

These coins are photographed and posted under “New Purchases” on my new website at www.davidperkinsrarecoins.com.  Under “Silver-Half Dollars-Capped Bust Half Dollars” you can find all my Capped Bust Half Dollars listed. 

 

I also picked up an affordable 1819 B-4 Quarter in the desirable late die state, with the neat double break through the date.  It is graded PCGS G06.  I will have all of these coins that are unsold at the ANA Convention in Anaheim next month, Tables 451 and 453.  I can be contacted through my website, at wdperki(at)attglobal.net, or Phone 303-902-5366.  Thanks.

 

W. David Perkins

JR Newsletter: 3 July 2016 (300)

David Finkelstein wrote another article in his series about the Congressional reports on the early United States Mint.  The article, The 1794 Congressional Committee Appointed To Examine The Mint – Part 6 (Boudinot & Harper), is at the following link:  https://gallery.mailchimp.com/74a0e3c37d154d935bdeb2daf/files/DJF_Mint_Congress_Examination1794_P6.pdf

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From the editor:  I often receive questions about the source of photos used as "title or header coins" for each week's JR Newsletter.  Sometimes, the images come from coins in my collection, collections of friends, or from other numismatists who have chosen to share their coin images.  Lately, I have been turning to the online memorial to Russ Logan for images.  That site is found here:  http://rob.com/russ/collection/index.html

JR Newsletter: 26 June 2016 (299)

Denis Loring wrote in response to comments by Dave Wnuck:

I don't disagree at all with what Dave Wnuck says.  Opinion on authenticity and opinion on grade do come as part of the slabbed coin product package.  My point is simply that a raw coin and the same coin slabbed are two different entities, and no one should be surprised that they behave differently in the marketplace.

 

Denis

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A couple of comments from the editor:

 

A reminder:  If you need back issues of the John Reich Journal, you can order them from professional book dealer Bryce Brown of Avon, CT. To view the extensive inventory of back issues and pricing, go to Bryce's website and scroll down to JR Journals. The website is http://brycebooks.squarespace.com/storage/Lit-Periodicals-display.htm

 

Nominations for the JRCS Hall of Fame class of 2016 are now CLOSED. An announcement of the 2016 honoree(s) will be made at the JRCS meeting in August at the ANA show in Anaheim, CA.

JR Newsletter: 19 June 2016 (298)

One contribution this week…In response to Denis Loring, Dave Wnuck wrote:

Respectfully Denis, you are forgetting the 2 most important, most valuable components of buying a graded & slabbed coin.

Specifically, I mean: (1.) An opinion of authenticity, and (2.) An opinion of grade.

Of course, a collector my disagree with one (or both) of those opinions, but nevertheless someone at some point in that coin's existence paid money to purchase those two opinions. As long as the coin remains in its tamper-evident slab, that is part of the "bundle of goods" that a collector purchases when they purchase a slabbed coin.

Dave Wnuck

JR Newsletter: 12 June 2016 (297)

We have two contributions this week.  First, Denis Loring wrote in response to Louis Scuderi (who wrote, "Is a raw XF-40 coin inherently less valuable to the "collector" community than a holdered XF-40 coin other than the fact that it is in a piece of plastic?")

Here's my take on it:  A raw XF-40 Bust half is just that, a raw XF-40 coin.  A holdered XF-40 Bust half is a product, manufactured by PCGS/NGC/ANACS, out of the raw materials of silver, plastic, paper and ink.  Some people collect and/or invest in such products, some just coins, some both.  The markets for the two overlap, of course, but are not the same, just as the coin and the product are not the same.

Denis Loring
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David Finkelstein wrote with an original work:  "The 1794 Congressional Committee Appointed To Examine The Mint – Part 5 (Way)"

You may read this article by clicking the following link:
https://gallery.mailchimp.com/74a0e3c37d154d935bdeb2daf/files/DJF_Mint_Congress_Examination1794_P5.pdf

JR Newsletter: 5 June 2016 (296)

Regarding census reports, Nathan Markowitz wrote:

I agree with Brian, as I personally use P/N/A for certified coins and R for raw so IF its decided to add TPG data to the census this might be simplest.  P45, R35, etc.

Perhaps more importantly, we need to keep provenance data with our coins.  At EAC this year, there was much discussion about counterfeiting...primarily of copper coins.  A rare coin will be purchased and a real coin will be overstruck with a die made from that example then often worn down and passed off as genuine.  This is a danger to our hobby and its only a matter of time before silver is more widely exploited per the experts.  Our best defense is to keep good pedigree records IMO.

Nathan Markowitz

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Louis Scuderi also contributed on the subject:

My ten cents on the holder/census issue for the readership to think about.

Not really certain what designating the grading service does other than taking up room in the census. And then what's next? Ranking based on number of PCGS, NGC or ANACS holdered coins? Ranking PCGS coins higher than NGC coins or vice versa? Is that what is really important? Is a raw XF-40 coin inherently less valuable to the "collector" community than a holdered XF-40 coin other than the fact that it is in a piece of plastic? I can understand the difference from an investment point of view but it is still my understanding that the official name

of our society is the John Reich "Collectors" Society. Has that been changed to John Reich "Investors" Society?

I would suggest that before any change is made to the census format that we also think about the oft quoted "buy the coin, not the holder".  I've seen far too many coins in holders that are excellent examples of grade inflation and some times significantly so. I also see significantly undergraded coins in holders and buy them when I can.

I personally prefer (and it is just my preference) my coins unholdered and trust that my 30+ years of grading experience collecting all of the capped bust silver series trumps the experience of 3rd party graders. In my opinion, and it is only my opinion, if you do not study the early series in depth you often do not get grading of the early US bust coinage right. To do so consistently you must understand strike, die wear and a number of other die marriage specific indicators that impact the appearance of the specimen.

Hopefully this will generate some interesting discussion and perhaps a few comments telling me how wrong I am! So be it. The important point here is to have the discussion.

Louis Scuderi

LM#56

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The final contribution for the week came from Steve Herrman:

COMING SOON!

The 4th revision of Auction Prices Realized for Certified & Graded Bust Half Dollars 1794-1839 (APRCG) shall be available in mid-June.

The 2016 APRCG contains prices realized for all certified and graded Bust Halves sold in major auctions over the past three years, June 2013 through May 2016.

Softbound, 134 pages, $25.00 postpaid. Also available in PDF format.

Copies will be mailed to JRCS members with an enclosed invoice. Advance payment is not required.

Note: $1.00 shall be donated to each the JRCS and the BHNC for each copy sold.

Please send orders and inquiries to Herrman102(at)aol.com

Thanks,

Steve Herrman

JRCS LM 28