CoinWeek Podcast #152: Completing a DANSCO 7070
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Charles Morgan and Chris Bulfinch start off this sequence of the CoinWeek Podcast discussing the holocene high price paid for a mint in a very early PCGS holder and issues surrounding the potential redesign of U.S. Currency.
After that, Charles and Chris break down everything you need to know about completing versatile DANSCO albums, culminating with the DANSCO 7070 mint album .
The DANSCO 7070, besides known as the United States Type album, collects one exemplar of most major types of U.S. coins struck from 1800 forth .
This was always a deceptively unmanageable album for most collectors to put together, but it ’ south made even more difficult considering most higher-end classical U.S. coins are now encapsulated in license holders .
Charles and Chris believe that dramatic coins should stay protected in encapsulate holders, but a certain character of mint makes a perfective candidate for a DANSCO album .
If you ’ ve ever wanted to complete a DANSCO 7070 album, this episode is for you !
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The following is a transcript of Charles’ and Chris’s conversation
Charles Morgan : I ’ m with Chris Bulfinch. I ’ megabyte Charles Morgan, CoinWeek editor program. We ’ rhenium going to do Part Two of a conversation about collecting coins and albums, folders, what have you. In the first contribution we talked about collecting coins from circulation, pulling them out of transfer at face value putting them in— let ’ s fair say, entry-level coin folders, something many collectors do at one point in their collect know .
We ’ rhenium going to amp that up a little piece in this conversation. today, we ’ re going to talk about, let ’ s good say a more advance approach or more heedful overture to doing this, by putting them in more protective mint albums. For the purposes of our conversation, we ’ re going to talk about the Dansco Albums, as I have a few here at my office. however, Lighthouse makes albums, Littleton makes albums, there ’ randomness Intercept albums, other albums you can buy other than Dansco. Dansco has been a hobby staple for several decades. They were actually the makers of the albums for the FAO series, a series I collect. We ’ rhenium going to talk specifically about US coins today .
Before we get into that, Chris and I have a few little pieces of information that happened in the news. We ’ ll beginning with Chris talking about a very crazy price for a 1962 Proof Franklin half dollar .
Chris Bulfinch : yea. GreatCollections have recently auctioned off a Franklin half dollar that on its face doesn ’ t truly seem all that remarkable. It ’ s a 1962, like Charles said. The mint is certified Proof 65 by PCGS, which is not a noteworthy grade, and 1962 international relations and security network ’ t actually a remarkable mint. It was struck pretty late in the series ’ animation, it was retired after 1963. To look at, on its face, there ’ second nothing in truth remarkable about it but it ’ sulfur sold for this massive price because of its holder. This hale story inverts the old numismatic truism that you should buy the mint, not the holder. The mint is in a White Label Rattler, which is a first-generation PCGS holder. This is among the first base coins encapsulated by the serve. The full documentation act is 1080333, which some think might allude to this being the 333rd coin that the service certified, but what is known definitively is that it is among the first 350 graded by the service. Such an early holder, and this mint being one of the first-ever encapsulated, that apparently appealed to people enough that 31 bids were recorded, and it ultimately sold for $ 3,612, which is a pretty noteworthy price. That was a in truth neat history .
I ’ ve heard about people paying a distribute of money for coins, and actually in older-generation holders among the earliest buy the different services. indeed, this offer is in truth a vivid illustration of how much a holder can be worth .
Charles : well, when you think about it, I mean, one of the things that attracts people to coins is curio. We ’ ve had commenters who were– I don ’ triiodothyronine know, possibly even use the word offended, but possibly surprise and had a sense of, I don ’ t want the coin avocation to be going this way, and what kind of person would pay such a price for a coin like this ? I think I ’ thousand being a little bit polite. But the world is that, like numismatics, there ’ s pretty much no wrong way to do it. If you go into it, because you think the holders themselves are an concern and collectible separate of the numismatic avocation, then guess what ? You ’ re probably right field. I don ’ t know the last clock I ’ ve seen a White Rattler with that low of a certain number. Over the course of the adjacent 10 years, you ’ re not going to find the other 300 first grade coins from PCGS. I ’ thousand reminded of the prototype black effect holder that I was able to review from Mark Salzberg collection when NGC was precisely starting to formulate what its holder would look like. It had a Saint Gaudens $20 gold coin in it, but if you put that coin in that holder on the market at a major auction, who ’ mho to say it wouldn ’ thymine bring big multiples over what the coin ’ s value would be barely for the fact that it ’ s a unique item, it ’ s the very first NGC holder mint always, as they were formulating what their stigmatize would look like .
With the White Rattler, you ’ re seeing the begin of a very crucial period of numismatic history, just like Colonel Green’s coin records came up for sale, people would pay for his books barely to see what he bought and what he thought of them. Or, when the Newman collection was marketed, the coin envelopes that belong to to Green were part of the pedigree and they were included in the sale. People do care about packaging. In this case, the promotion happens to be credit card with a whiten computer-printed insert. It ’ s a very cool price. If it was a very interest coin, not a common Proof Franklin one-half dollar, who ’ mho to say the price would have been even higher ?
Chris : It credibly would have been truly high. I wonder if the prices would go up or down if you could positively identify the order in which the coins were certified. Just for my own personal curiosity, I ’ vitamin d love to know what the first coin always certified by PCGS was. Before the show, I went through a few Google searches and read a few articles on the grading company ’ mho websites to try to figure out what was the inaugural coin that they created and I didn ’ t find anything, but which I didn ’ t– obviously, I wasn ’ triiodothyronine looking peculiarly hard .
Charles : I don ’ triiodothyronine know what the first base US coin they graded is, but I do in fact know what the first gear World mint they graded was .
Chris : Oh, in truth ? Wait, well, what is that ? I ’ megabyte curious .
Charles : It was the 1911 pattern Canadian dollar .
Chris : Oh, in truth ? No, that ’ s a cool coin .
Charles : Yeah, they did a big full-page display on it in The numismatist when they announced that they were accepting universe coins, so that was the first mint they graded. I ’ molarity pretty sure the first american coin they graded wasn ’ t a major rarity .
Chris : No, it was just something that person submitted that wasn ’ t particularly rare. I should mention that the final price was $ 3,612.38, in case that excess 38 cents makes any difference to our listeners. Yeah, I besides wonder, not only about the first coins that they certify, but if you found the tenth mint, would it command a importantly higher premium than this coin ? I don ’ thyroxine know how many old White Rattlers are out there, and obviously, they command a pretty serious premium. I guess, whoever ’ second collection of that mint came out of, I imagine they ’ ra probably thanking their lucky stars that they didn ’ thymine break it out to have it upgrade. It ended up being worth more intact than if they ’ five hundred cracked it out .
Charles : Well, another thing that happened this week is that the Bureau of Engraving and Printing has resumed production of the $100 Federal Reserve Note at its Washington, D.C., facility. The issue had been suspended from product there for about a ten due to printing problems. then, every $ 100 note that would have been produced from 2013 onwards would have been produced at the Fort Worth, Texas facility. This may or may not matter to collectors of paper money in the common sense that the very current issues may not be something they ’ re collecting nowadays, but collectors in the future will probably make note of this important change and development. I ’ thousand certain the notes will not be immediately available for circulation but may come out at a future point. It ’ s not clear to me when that ’ randomness scheduled to happen. But that ’ s surely a development, the old money factory in Washington, D.C., getting our highest circulating appellation of newspaper money back into production .
Chris : Do you have any feel as to why they were entirely printing them at Fort Worth ? Is there was there a reason for it, or that ’ s just how [ crosstalk ]
Charles : I think there was a printing mistake that what was happening with the series 2009 notes, and that they had an Office of the Inspector General report look into it to try to figure out what was going on ? They were trying to remedy the issue. There were different solvents that they were trying to use. It just turned out that the Fort Worth adeptness was able to print the notes and the D.C. facility wasn ’ t. It took apparently quite a morsel of time for the approval march to get afoot and for them to get to the point where they could print the notes. That may be one of the things that is factored into whatever redesigns or updates to the notes that are probably scheduled on a fairly act basis, given the fact that advanced printing technology can well counterfeit most of the older forms of currency. Who knows, I mean, the United States has used a fabric paper conceptualization for its paper money for quite some meter, even as early countries have gradually slipped into polymer notes and other engineering. I wonder if at some luff we ’ ll comply lawsuit or we ’ ll keep our traditional newspaper in place .
We want to get into basically a discussion of the strategies that may work best for you when it comes to putting together possibly a better collection of coins and albums. I would say that this is an average step between taking coins out of circulation at face value and accepting what you find, and buying coins in certify holders with a stress on the accurate grade of the mint. I have credibly six or eight Dansco albums. Have you ever put one of these items in concert, Chris ?
Chris : No, I never have. That ’ mho something that I think I constantly meant to do and never had the presence of heed to just pick up a folder and barely start getting type coins. I never have, but at some point in the following year or so, I ’ d like to merely get a couple of Dansco albums and get down, but to answer your doubt, I haven ’ thymine .
Charles : The interesting thing is putting a Dansco album is truly about the process. The least satisfy ones that I ’ ve always completed have been the Eisenhower dollar one, The Susan B. Anthony dollar one. Any album that you can basically buy your way through and one trip to the mint shop, in the long term, international relations and security network ’ thymine very going to feel that satisfying to you .
Chris : well, you can buy them already assembled. There are dealers who have a full moon adjust of– to pick a coin we were talking about earlier in the show, you can buy wax uncirculated sets of Franklin halves .
Charles : Yeah. No. I would never do it. I would just never–
Chris : Nor would I. I ’ megabyte just saying that they do sell a complete Dansco album. You could either put it together yourself at a shop or at a indicate or you could buy completed, but again, I wouldn ’ t endorse buying a completed album either .
Charles : yea. well, there ’ south a couple reasons. First off, the price associated with it. Let ’ s say you ’ re going to get a Franklin half dollar, well, every Franklin half dollar is made out of 90 % silver. indeed, you have many ounces of silver that you ’ re dealing with, from 1948 to 1963. The coin dealer gets to pick which coins to put in the album. They ’ re doing it in a box distribute for the indiscriminate buyer. tied if they ’ ra saying, they ’ rhenium BU or choice BU, what does that actually mean ? I mean, that doesn ’ thymine constantly mean to you–
Chris : Broad range of grades .
Charles : yea. In that respect, you basically at that sharpen, you didn ’ triiodothyronine buy coins, you bought a product, a finish merchandise. I don ’ triiodothyronine know how much attention you ’ re going to pay to it or how much the travel is going to mean anything to you, if you open your precedence postbox in the mail and you have everything done. I felt that way, like I said, about the $ 8 Dansco I put together because pretty much I had all the coins lying around. They ’ re all Mint State, because I had a Registry Set collection of Ike dollars and these were ones that I didn ’ thymine get graded. I didn ’ t go crack out my MS-67 clads to put them in a Dansco album. These were not adenine good as my Set Registry typeset. It was very easy to put together .
I have in front of me though three sets that I have been working on for 15 years, I haven ’ metric ton flush finished. One is a Jefferson nickel set, which isn ’ t actually that difficult to assemble. none of the coins are all that rare. We talked about this last week. In my hardened, this would go from the beginning of the series, the 1938, and I think the stopping point ones I put in here were credibly 2000… what is this date ? 2005, 2006, 2007, 2008, 2009, 2010. 2011 were the last ones I put in here. I have room for 2012, 2013, 2014, improving to 2015, I think. Don ’ metric ton quotation mark me on that. I guess you will .
Chris : [ chuckles ]
Charles : But every individual one of these coins is a mint set mint. Think about what the cheap batch sets are. You ’ re talking about the mint sets in the mail silver medal time period when they started producing them again in ’ 68. ’ 68 to the introduce, you ’ re merely buying mint sets, you ’ re cutting them out, you ’ rhenium putting them in here. That ’ s a fortune of mint sets or you can buy them as individual singles. Coin dealers sometimes will have these two-by-two flips or rolls they sell. You can do it that way. The coins start getting a little tougher once you go before ’ 64 because you have the silver message. If you ’ ra buying them from mint sets, at a certain point, you ’ re starting to buy double mint sets and double mint sets have two of every silver coin released that year. A fortune of these tend to be toned coins, but if they were original, because the wallpaper tones the coins over time, and those come with a collector premium, and so you may pay $ 200 or $ 300 per batch set up, which means that you have all these other coins, and not precisely the nickel .
You may decide to buy those coins as singles, and then again, you ’ ra running into the lapp site that I find. People who marketplace coins as Uncirculated don ’ triiodothyronine constantly have Uncirculated coins. This is why grading services exist, folks, because the seller always has a leaning or commercial benefit to oversell the mint. then when you get the coins in hand, you may say, “ This is a slider, or this has been dipped or cleaned or whatever. ”
One of the things I noticed about nickels, they all tone. They will all discolor. They typically turn yellow after a while. Anyway, in this case, the thing that ’ mho holding me back is, probably going to hold a draw of you back as you start, the early issues, like I said the pre– in this case, it ’ s the pre- ’ 60 issues. Each one of these coins I ’ ve had to buy individually. You see there are quite a few holes, specially when you get into the war nickel set. But the Jefferson nickels, it ’ s a cool series to put together. I would say vitamin a far as a challenge is concerned, there ’ s not going to be a single mint set mint in here that ’ s going to cost you more than possibly $ 15, $ 20. not very many are going to be in that price range. A lot of these are going to get for under $ 1. even with that, it ’ second taken a while .
Chris : I ’ meter curious, were you looking for coins with Full Steps ? Was that a prerequisite that you impose on yourself or were you merely Mint State, out of a mint set, you didn ’ t need the steps ?
Charles : I was basically looking for Mint State with a good sum of luster, like attractive coins. Like, I wasn ’ t– I used to– When I was making my Eisenhower dollar Registry Set, I wasn ’ deoxythymidine monophosphate just buying a mint that was pre-done. A bunch of times, I was making the coin. What I mean by that is, I was going out, buying a fortune of batch sets. I was breaking them down. Every mint set that I ’ ve always bought off of eBay or from a coin trader, I ’ ve actually cut up. I ’ molarity not alone in that respect. I think a draw of collectors do this, which means that you can take the original coinage from any given year, and count on many of these sets being destroyed over clock time. The coin is being broken out. sometimes, person only collects a half dollar, while they get the mint set, they grab their half dollar, they cut it out and the rest of the any. sometimes, the coins go into circulation, sometimes they just put them in rolls or whatever .
I had a system, I would break down every single set up I bought, even if I didn ’ triiodothyronine like the coins, because I didn ’ thymine want to ever buy them again in the market. I felt like if I was looking for Eisenhower dollars, the typical Eisenhower dollar for any given year, the mint set ’ s going to be an MS-64, possibly or lower. I didn ’ triiodothyronine want to buy that typeset again, pay the transport again, go through the fuss of selling it, taking a loss, then buying it again as person bundled it in concert, thinking that I was trying to find dear coins. The direction I avoided that is, I never bought the same set again, because those sets didn ’ t exist after I got my hands on them. And therefore, I would equitable put all the uncirculated coins I didn ’ t like into tubes, I would sell the tubes. Problem solved .
Chris : Yeah, it ’ s not a bad strategy. That way, you ’ re still making a little snatch of money, and you can recoup some or, depending on what you sell them for, all of your initial investment .
Charles : Right. So I would do that. I think over the course of possibly three or four years I was actually doing this, I credibly broke down about 1,800 or 1,900 mint sets from 1973 to 1981. So, I know– I can personally vouch for people who did way more destruction of sets than that. A collector acquaintance of mine, who we talked about in the end podcast, who was finding the Eisenhower dollar rolls, he credibly broke devour 10, 15 times what I did. That ’ second for the Jefferson nickels. I ’ thousand not in truth concerned therefore much about the Full Steps. I think when you ’ re getting into full step territory, you truly are talking about certified coins because it ’ s not precisely your opinion about the steps. I think to very achieve the value that you ’ rhenium looking for in that site, you have to go to a third base party having that opinion deoxyadenosine monophosphate well .
I besides think that for me, I would rather have a in truth nice mint without the full steps than to have an MS-64 coin with a big shoot on Jefferson ’ s boldness that is one of entirely three that have been certified with full steps. I don ’ deoxythymidine monophosphate fetishize those strike qualities at the expense of the overall choice of the man .
Chris : Oh, for sure. I was fair thinking that specifically with Jefferson nickels, a batch of the early dates, 38, 39, into the 40s, I know that for those coins, it ’ s slightly harder to find examples with full steps, merely because nickels are reasonably hard alloy and the dies would wear out relatively promptly. I know that, if you find 38, 39, some of the 40s dates, although the silver medal alloy was softer than the nickel alloy, that would have an impression but I barely knew that some of the earlier ones are hard to find with wide steps. I was just curious if that was something you ’ vitamin d been pursuing, but I guess it wasn ’ deoxythymidine monophosphate .
Charles : Yeah, not specifically. here ’ s another thing though. If you buy, we generally think of mint set coins as being the better coins, earlier fail country. A real learn of the position will reveal that you can get very early die state coins in circulation, but most of the coins you will find in circulation from the ’ 70s and the ’ 80s will be much later die state. They in truth rode those dies to oblivion. This is why you look at something like the 1982 No-P dime, which should have had a P on it, but there was a position where one of the dies did not have the P. As that die progressed, the date actually starts to wear out to the decimal point where I think it ’ randomness called the Light Date or whatever, I don ’ thyroxine know what the terminology is. There ’ south a Strong Date and a Weak Date ’ 82 dime. As the die deteriorates, you see the persona of the impression receive weaker and weaker .
You ’ ll see many circulating coins from this period to be of hideous quality. Whereas the mint sets offer more systematically earlier die states of the coins. When it comes to the ’ 50s issues, and then double mint sets, particularly in the nickel, you ’ ll actually be shocked when you pull the nickels out and you look at the reverses and see the Monticello — it doesn ’ t even look like it ’ s an Uncirculated coin, because of how decrepit it ’ s impressed with the prototype because of the state of the dies they were using by that fourth dimension before they created newfangled hubs and refreshed the design. It ’ s truly something to see. And then, as you ’ re putting together your album, if you decide to put a complete set of Jefferson nickels, again, I wholly recommend you try, you ’ ll notice that the strike characteristics of these coins change. then as you have them all together in this format, you will see when modern hubs were put into use, you ’ ll see the gradual decline of the stipulate of the dies year to class until they rehub the coins. You get a substantial effective picture of just the way the coinage looked, because you ’ re going to see them side by slope by side, mint by mint, over a period of years .
Chris : You know I imagine, If person was actually dedicated, you could about do multiple full collections where you try to get examples of different dates that typify or exemplify the different fail states. inordinately hard set or group of sets to put together and it would credibly take years, if not decades, but that could be interesting just to– Again, like you said, to illustrate the wear of the die, but anyhow .
Charles : Right. Wouldn ’ deoxythymidine monophosphate that be a bang-up, meaningful solicitation ? It wouldn ’ t actually be that expensive to do, but it would take years to finish .
Chris : It ’ five hundred be incredibly meaningful. I could even see that being a cool exhibit at a coin read. You can even do that with just focus on one date, and just try to get coins from all the different states of the die, again, good to illustrate how the dies wear, and then pick out in truth good examples of different fail states and then have high-resolution zoomed-in images, magnified images, alongside the actual physical coins themselves and put them into an expose. I think that ’ d be neat .
Charles : Yeah, no, I think it ’ five hundred be fascinating. A second base album that I ’ ve been putting together for years, this one ’ s actually a little harder than the nickel bible is the Roosevelt dime with Proof-only issues. Although Proof issues were struck from 1950 to 1964 in flatware, those issues were struck at the Philadelphia Mint, and the Dansco arrangement of the serial doesn ’ deoxythymidine monophosphate give you a separate spot for those coins. They barely expect you to have the business assume. I guess you could have Proofs in there .
once you get to 1968, the only S-mint issues of that year were proof only. That carried fore reasonably much continuous, until you get to 1993, when San Francisco started making silver Proof sets, in summation to the clad proof sets. As you can imagine, it ’ mho identical unmanageable to buy proofread issues without buying proof sets. Unless you find a dealer, who breaks them out and sells them as singles. I haven ’ metric ton actually gone that cryptic into it to try to get every proofread clad and argent issue for every date. I have a fairly comprehensive examination collection of all the mint state issues throughout the series. It ’ mho wyrd to note this, and I don ’ thymine think this was the case when I put these coins in the album, but many of my silver coins are now developing rim tone, blue sky, purple, crimson flange tone, as I put them in the album, even a few of the proof issues. I think that has something to do with the content of the paper. I don ’ triiodothyronine think this is archival newspaper. If you are going to put silver medal coins into albums like this, a bug–or a feature—of the position is to expect some tarnish .
I would imagine with mod coins having this .999 fineness that they ’ ve switched to, those coins are going to be more reactive to toning than the “ dirty ” ash grey of .900 fine. This again, it would be a big fun thing to put together, a fortune of interesting coins throughout. I think having, seeing the silver coins is always fun. Like the case with the nickels, I wasn ’ thyroxine actually so implicated about Full Torches. I was precisely looking for brilliant, original, nice luster-y coins when I put this together .
Chris : For any given date in these albums, how many mint sets do you normally have to open before you find coins that either match or that you want to put as your submission for that go steady ?
Charles : Well, for the menstruation of time that I was working in with the Ike dollars, when I was building that stage set, so that would be ’ 73 to ’ 78, because they didn ’ t have Ike dollars in ’ 71 or ’ 72 sets. You know, I think I was credibly, I might have had eight or 10 sets, and I would just find the one I liked the most and put it in there. I do have tubes. I mean, we ’ re talking about the nickels. This is a wholly roll here of ’75-D nickels, all in Mint State. This is one of probably 300 or 400 rolls of ’ 70s, ’ 80s time period uncirculated coins, I just have at my disposal because I ’ ve gone through them. I always feel wyrd putting any of these coins in circulation, because it ’ south about like you ’ re giving up on a acquaintance that you ’ ve sheltered and cared for all of these years from circulation. On occasion, my kids want to see a Bicentennial quarter or something like that, I might pull one out of one of these tubes, and once they handle it enough, I ’ m like, “ Well, it ’ s exchange now. “ It goes out in the wild, and possibly you ’ ll find a nice, closely Mint State, a short bite fingerprint quarter because I put it out there .
But yeah, the mod series are decidedly worth doing. obviously like with the Washington quarter we ’ ve made so complicated due to the America the Beautiful and State Quarter set. I do think that if people took Mint State examples of those coins and put them away and put them in these holders, some of those coins probably start toning by now. I think at some point tone Washington State quarters are going to be a real number blistering collectible thing. Same would go for advanced commemorative. I think if you had a Dansco album that you kept starting build in the 80s of commemorative coins, Proof issues, and circulated issues, possibly even more, and then you started developing these rainbow tone patterns. I think those would sell for a lot of money. I see on eBay, the LA Olympics coins for possibly ’ 83- ’ 84, those toned pretty well. Sellers are asking $ 200, $ 300 each for those coins and getting that count. If you had a brilliant white coin, as issued in their formative case, you ’ re looking at a $ 25, $ 30 mint.
The like would go for another mint from that time period that toned very frequently is the Constitutional commemorative dollar. I don ’ thymine know what it was about the packaging, but those toned yellow and crimson quite frequently, and you see those coins sell. not for american samoa much as the LA Olympics coins because the Constitutional dollar is not all that attractive in design, and the tone design international relations and security network ’ triiodothyronine about as decent and bright, as you sometimes see with the Olympics coins. But I think that one of the ways to make that toning happen to be postmark, and this international relations and security network ’ metric ton cheating or using chemistry, it ’ s like merely storing the coins in these albums. There ’ mho an expression called “ Wayte Raymond toning ”, which is a common thing you ’ ll visualize in a draw of advanced coins, Uncirculated coins, and commemorative coins that were kept in the Wayte Raymond albums, which were the standard album that was sold in the first one-half of the twentieth hundred. You ’ ll see this character of toning on classic commemoratives that were kept in their original box, specially ones that you see these tab tone, where there ’ five hundred be like dark borders and a small dark spot in the center, that ’ s based on its specific type of box. These albums, unless they ’ rhenium inert and observe in intercept shields or something like that, they will tone your coins .
Hardest album, I think to put together as this one. This is the Dansco 7070 United States type .
Chris : That ’ s the Dansco… That ’ s the Dansco album I ’ ve always wanted to put together. If I was going to start, that ’ s where I would start .
Charles : I ended up buying this album, I think for a while they were out of print or Dansco wasn ’ triiodothyronine making them or whatever. I couldn ’ metric ton buy one on the internet at the time, but at a local mint show they were they had an auction, and person was selling a not put together at all, it had like two or three coins in it, 7070 album and it was in good condition. I bid on it and I won it. It has a page on it, that I wasn ’ t accustomed to seeing. It ’ s the final page and it says Bicentennial. It has the quarter, one-half dollar, dollar, plus modern US neologism. It has an exercise of a State stern, Sac dollar, Susan B. Anthony .
Chris : Which one state would person take for their state of matter quarter type ? probably the express they live in, right ? Assuming they ’ re the
Charles : Yeah, I live in Virginia, so I ride and die the Commonwealth. I have a Virginia state quarter .
Chris : I ride and die the Commonwealth of Massachusetts, so there you go .
Charles : That ’ sulfur right. This is a 2000 S silver State quarter. actually, I had nothing to do with that choice. This was one of the original coins that came with it. I don ’ triiodothyronine know if you ’ ve see it in the camera, it actually has the NGC label, they cracked out a proof 69 Ultra Cameo to put it in there. In fact, there are a few coins like that I think came with the album. There is an 1854 half dime and 1855, 1945-S nickel from MS-66 from PC, Mercury dime MS-64 Full Bands. That was the way that I kept track of what I was putting in the album. As I was cracking out coins from graded holders, so I could be assured that the coins were not cleaned or fake. I would buy certify coins, I ’ five hundred break them out, I ’ five hundred put them in the holder, and I would put the tag on the second so that I at least had an estimate of what they were at one target .
nowadays that ’ s not to say that these coins would be graded the like if they were sent back, they could have deteriorated a little bit since I pulled them out of the holders or whatever. That ’ s the room I did it. now what makes this indeed challenge to be honest with you, is the cost– this is a prohibitively expensive United States type mint set, even if you ’ re not going out there and saying Gems all across the display panel, MS-65 everything. Well, that would be ace expensive because you got to get a Gem Draped Bust cent and Draped Bust half dollar, and Trade dollar. You have to get a Gem Seated Liberty dollar and all of that. What my basic criteria for this laid is, and this is why it ’ sulfur taken me a long clock is, for 20th-century issues, I ’ thousand looking for uncirculated preferably with luster, I would say MS-63 at a minimum, but MS-63 is wholly acceptable for a Barber half dollar, any coin that would be over a couple of hundred bucks at MS-63 that is where I want to be on that .
For the 19th-century issues, when I ’ thousand looking for is at a minimal AU50, AU55 kind of range. I want to see the invention, but this is expensive. This would be one of those types of sets if you ’ re going to build it out that you plan around that you say, “ Okay, well my budget is X for this, this, this coin, this coin, this coin, these are my budgets. ” then you ’ re going to be on the lookout when you find something that you can snag at the price you ’ rhenium willing to pay. You ’ re not going to put this this album together nightlong and you ’ re not going to do it for fewer than a probably less than $ 2000, $ 3,000 for low grade. If you ’ re going for a higher grade album over the course of many years, this could be a $ 10,000, $ 15,000 investment…
Chris : What do you think the best median grade would be ? If person wanted to put together a 7070 with all the coins in the same grade, which might not even be the most beautifully match set, but let ’ s imagine that ’ s what they wanted to do, which grade you think would look dainty in every individual appellation .
Charles : First of wholly, you got to set yourself with the theme that there are certain coins that you ’ re used to seeing in Mint State. You ’ re used to seeing Morgan dollars in Mint State .
Chris : I ’ m used to seeing Morgan dollars in MS-63 to -65, excessively, like mid-Mint State .
Charles : Yeah, like, brilliant. You ’ re used to seeing Lincoln cents in Mint State .
Chris : It depends on the state of Lincoln cent though .
Charles : yea. well, like a Memorial cent, you ’ re decidedly going to be used to seeing that Mint State .
Chris : Yes, you ’ re right about that .
Charles : What happens is when you start putting these coins side by side, because I ’ thousand looking at the way this book is constituted, you have in the same yellow journalism, Flying Eagle, Indian Head, with a laurel wreath, with a bull wreath, with the bronze oak wreath, with the Lincoln Head 1909 VDB. then the bronze ’ 09 to ’ 58 coin. That ’ s the like yellow journalism. My Lincoln penny is amply brilliant bolshevik, like fiery bolshevik. I have one amerind Head there, it ’ s like a 1908 and it ’ sulfur silent crimson. so seeing a begrimed Flying Eagle cent next to all that would be in truth kind of disappoint .
Chris : Oh, yeah. absolutely. similarly, I actually think that a nicely wear, evenly toned amerind Head cent could look truly nice and fine–
Charles : Oh, surely they could .
Chris : Like an Indian Head gold quarter eagle, for exemplar, in very effective or Fine, some of those are cool for lowball sets, but I ’ ve never seen heavily circulated gold that ’ randomness ever been actually attractive to me. Again, grade match, you have to pick a rate that all the coins, if you ’ re going to pick one class that all the coins would look good .
Charles : yea, because I just have the public opinion that I think an AU coin, if it ’ s courteous enough, can pass. They used to have a condition called “ Super Slider ”, kind of coins that are in between. To me, you expect early copper cents to be brown. You want to see all the design details and you can ’ t truly get that done like any lower than Extra Fine, 45 possibly. AU-50, I mean, I think that that ’ sulfur where like most of the design details are however relatively apparent .
Chris : I agree. Circulated copper for me, though, can look very dear down to about very well, though. I ’ ve seen, for example, like VF30-35, I ’ ve seen some reasonably pretty bronze small cents in VF30-35, that aren ’ thyroxine bad-looking coins by any stretch of the– [ crosstalk ]
Charles : No, not at all. Like I said, in the context of putting together a bombastic cent collection, where there ’ ra going to be rugged dates, and there ’ ra going to be bad varieties, but you ’ re going to say, like a Strawberry cent. If you got one that was Good-04, you ’ d be excited .
Chris : Oh, yeah .
Charles : But when you have a type coin set, and you ’ re basically, the condition of putting it together, you ’ ra sort of expecting that these are going to be examples of each coin, they ’ re not going to be the key dates, they ’ re not going to be the semi-key dates. They ’ re going to be the low-cost available model, you ’ re credibly going for something a decent as you can get within the rate. That ’ s not going to be the lapp for everybody. I think a problem-free, supernumerary Fine-45 rig, would be actually quite cool .
Chris : I mean, incredible .
Charles : We ’ ve even written the mind of, forget the theme of type set, from the notion of getting the low-cost example. What would be if you had the typeset, but it was one of the hard coins to get ? Like how neat would it be to open up this and your case of the Lincoln Memorial penny ’ 55 double over die ? I mean, at that point, like you show it off to person .
Chris : well, that wouldn ’ triiodothyronine be the Memorial cent, that ’ five hundred be the Wheat cent .
Charles : well, that ’ five hundred be the Wheat penny, but, yeah, I ’ meter blue, but the Wheat penny, the double fail. Or, if you get the Buffalo nickel, the Type Two, the Three-and-a-Half Leg Buffalo nickel, a Three-Legged nickel. If it ’ s a Washington quarter, it ’ s a ’32-D .
Chris : It would be in truth funny if every one of your type coins was either a rare date or a rare diverseness. That would be in truth cool. That ’ five hundred be a amusing determined .
Charles : Yeah, it ’ d be about like, “ Hey, you want to see my type set solicitation ? ” People look at it and they ’ re like, because you never looked for those coins. You never say, “ Oh, belly laugh, your Draped Bust penny ’ s a 1799. ”
Chris : It would be possible to do, but I think it would actually be more unmanageable than it would seem on the face. I love lowball sets. I get such a kick out of people who put together like the lowest grade coins they can find, but that would be truly intemperate to do to complete a typeset because you ’ d have to find a memorial penny graded fair besides, which would be actually insanely hard to find because no one would bother having that coin graded or I don ’ t know, I precisely feel people wouldn ’ triiodothyronine save a Memorial penny unless it was a in truth hidden variety show, that was in truth heavily circulated. I feel they would go for a nicer-looking mint. It would actually be a challenge to find some of the modern, some of the most current-day issues that were truly heavy circulated .
Charles : What do you think is the lowest grade of dress Washington stern you ’ ve ever seen in change ? Do you think you ’ ve ever found a good or a very good clothed Washington one-fourth, like a 65-66 ?
Chris : That ’ s a great interrogate because I get 65s in exchange, like mid-late ’ 60s dates, relatively often, at least back when I was spending cash in stores, which–
Charles : They ’ re reasonably beat up at this point .
Chris : Oh, absolutely. No, they ’ re well-worn, but I don ’ triiodothyronine think I ’ ve always found one below fine because that would have stood out to me because I feel in change you expect them, the dress Washington quarters that I ’ ve encountered in change from before the country headquarters, 99 to 98 before. I feel I always see them at least EF. I never see them that heavily– that ’ s an interesting question. What are the lowest grades you can pull from circulation for any given appellation ?
Charles : well, that speaks to the hardness of the copper-nickel clothed sandwich metallic. The fact is that I had asked around and I don ’ triiodothyronine know if I ever got a solid answer. I don ’ thyroxine know if there is a solid solution. It stands to reason that you have the big mint boom that starts to take locate around the prison term of the Great Depression and people are pulling indian cents out of change. There ’ second a draw of banal 1916-D Mercury dimes, which is amazing. Which means 1916-D mercury dimes probably circulated for at least a decade or two before those coins are pulled out. You think about that, with the silver, the silver soft enough that the mint wears out pretty promptly. They were complaining that the Buffalo nickels, like the dateless Buffalo nickels. Well, those nickels were wearing out pretty cursorily. They had to continually change the room they were doing that and the Standing Liberty quarter set, the dates wouldn ’ thymine be obliterated. If they were changing the design, so the dates wouldn ’ t make obliterated, that means that within the life of that mint, which is 1916 to 1930, that the dates were wearing out sufficiently enough that they had to change the design. I think the silver coins were wearing out faster .
Chris : Oh, yeah. Well, ash grey ’ s a softer metallic, so that makes smell. The dates are normally so a lot weaker on pre-1925 Standing Liberty quarters because that ’ s when they were assessed the date, it was 1925. That was the first gear date where the date was reset .
Charles : Right, which means that between 1916 and 1924, they recognize the want .
Chris : yea, in that eight-year time period, they would have had to have worn out truly cursorily. No, you ’ re right, that ’ s very, in truth interest .
Charles : Yeah. Like I said, when you go back to Wheat cents, I would imagine like when you ’ re getting 1950s Wheat cents, which is calm common enough, it ’ s not impossible to find them. Those tend to be in the Extra Fine compass. It ’ randomness just when you start getting into the late ’ 30s, early ’ 40s, anything before 1940 is credibly going to be in good territory by now. You will find 1919 Lincoln Wheat cents from time to time because there ’ s a huge message that year, but they ’ re going to be good about good at best .
Chris : It was like to good and very estimable. I don ’ t know if person polished it or if it went through person ’ sulfur washing machine, if it was in person ’ sulfur pants or something and it got washed. It was a hideous coin. It was from 1919, I thought it was cool. My standards are sol low, I picked Bicentennial quarters out of circulation. I mean, they ’ re not deserving anything but I think they ’ rhenium cool, and that was one of the issues that got me into coin collect. If I find them in circulation, I ’ meter pulling them out, even though they ’ ra deserving 25 cents. I constantly pick up Wheat cents .
I found Wheat cents… 1919 is credibly the earliest I found, we talked about this before. I found ’ 29, I found issues from the ’ 30s and the ’ 40s, but ’ 40s and ’ 50s Wheat cents I silent do find and change from clock to time, and I always pull them out. tied if they look awful, it ’ s just cool that you found it in change .
Charles : yea. lapp with nickels. You can find a bonny sum of nickels in the– I would say ’ 62 is probably like your typical cutoff date when you ’ re going to find, and ’64-Ds, I mean they used to be about the most park nickel you would ever find in circulation from that period of time. Getting back to like the whole mind of stepping up you ’ re collecting from circulation fines actually paying for the coins, and putting them in albums. The album way of putting the coins together allows you to see them in the context of the hale series. It ’ s surely a very interesting way to collect personalize coins, having the wholes gives you something to chase for. I think having the holes as a concept is what actually exploded the popularity of the mint hobby to begin with. I don ’ triiodothyronine think that collecting coins in an album is incongruent with the way coins are typically collected today, which is in certify holders. I think certify coins are taking an exercise of the coin that stands out as an individual based on its grade, particularly if the coins are snowflakes, which is a condition that normally gets used for talking about coins that are individualistic, as opposed to a dime a twelve type of coin, a doodad .
I would say that, to me, a campaigner for a coin in an album is a nice coin, a mint you ’ d like to own, but one that possibly doesn ’ t– having the determination that it ’ s like an MS-63, as opposed to an MS-64 international relations and security network ’ triiodothyronine very that crucial to you, but if you had an example, that was superintendent Gem, MS-67, 68, or if we ’ re talking about like an 1881-S Morgan dollar or something like that, then it makes no sense to put that coin in an album when it should– its excellent state of preservation should be preserved in an inert as possible an environment which a coin capsulation would allow. I think putting a register set together takes the theme of building a set and amps it up, it provides a social challenge other collectors across the area can compete against you, it allows you to show off your coins– PCGS, I know has a service where they can photograph your coins, you can besides upload photograph of your coins to their set register platform .
I considered my Eisenhower dollar, my Washington quarter Registry Sets to be my ultimate versions of that set. Whereas I considered my Dansco album interpretation to be my– I can look at it at home or I can look at it more well than pulling out all the blue boxes and pulling out the coins individually. once I had my entire quarter fit, which I had probably 60 %, 70 % of the eloquent quarters like in mint state 66. I had them all laid out on the floor and it took a huge come of space. It very wasn ’ t a comfortable way for me to look at them as a determined, whereas an album would afford that. I got more enjoyment looking at my quarters probably through the TrueViews, because I had a lot of toners and seeing them in the huge images than I did, actually having them and fiddling with the light and the magnifier, whatever .
Chris : That ’ s one of the draw of the album, international relations and security network ’ triiodothyronine it ? Is that it makes presentation easier, and it ’ s not an unattractive way to deliver coins. specially if you have your register laid, that ’ s all slabbed and bric-a-brac, or all the coins in your registration attire, set or slabbed, it ’ sulfur cool to have, like you said, a mid-tier set that you can pull out and show to people or precisely pull out and enjoy .
I ’ ll say this we ’ ve been talking about how whether it ’ s a 1962 Proof Franklin half dollar in a actually early PCGS slab or these coins in Dansco 7070, the context in which coins are presented matters a batch. Something that I ’ ve been getting more and more interest in is coins that come in their master box. I know people who ’ ve listened to me on this podcast or elsewhere before wouldn ’ thymine know that I ’ m actually matter to in classical commemorative coins. classical commemorative coins with the materials they were issued with, in the original boxes with the original packaging, original order receipts, you can build a actually cool solicitation with that excessively, where you have all of the documentation and all of the master packaging. evening though it ’ s not in a slab, it ’ randomness still being presented in a context that reveals elements of its history, which I think is fascinating .
Charles : I agree with that excessively. deoxyadenosine monophosphate much as I enjoy looking at the know examples of ultra-high-end coins, specially in that series, particularly like the toned ones, I think it ’ s a crime to break out a complete Pac set with the two gold slugs and to take them out of that elegant box that they came in. At some orient, that ’ sulfur going to be even rarer than the coins themselves, and which is probably already the font .
anyhow, that ’ s just our feedback about putting coins in concert in Dansco albums. I think what we ’ re going to do with this podcast from time to time, is we ’ rhenium going to touch on basic to intermediate collecting strategies and things to help you see the way we view our collecting pursuits, try and give you personal feedback, and testimonial. There in truth is ultimately no wrong way to experience this hobby. You ’ ll find that collectors, even collectors who are buying ultra-high-end, very expensive coins, have a distribute in common with the casual collector and what drives them to collect, the things that they ’ re excited about .
I want all of our listeners to feel that no matter what we ’ rhenium talking about that they ’ re involved in the broader avocation. If we ask a trader what their tips are for collecting amber coins or why possibly an advanced collector might want to hire a mint dealer to represent them in buying coins at an auction, the basic points and the reasons why these things are happening do have lessons to be learned from everybody. We all are pursuing the objective of enjoying ourselves, learning a fiddling sting about history, and putting together the most matter to and lively collection we can within our budgets. I think there are lessons to be learned at all levels of numismatics, and you ’ ll never in truth stopped learning equally long as you ’ ra curious .
Chris : That ’ south absolutely true. Participating in this podcast and listening to podcasts and consuming different kinds of numismatic media, that can be a very dear way to learn arsenic well. If I end up getting a 7070, I ’ ll be certain to keep listeners posted as [ chuckles ] I fill all the holes. You can come on my 7070 collecting travel with me .
Charles : Well, and I haven ’ t– [ crosstalk ]
Chris : -if you would like to start a pace, if any of you would like to start with me, you ’ rhenium welcome to. I ’ ll be certain to keep our listeners posted .
Charles : yea. We ’ ll post this on our Facebook page, but feel free to share your strategies, how you put your Dansco album together. I read every gossip, and I ’ m interest in that dialogue, and I can besides tell you on thoroughly assurance, I know of a collector who put together a solicitation worth over $ 100 million who hush collected coins in albums arsenic well, because they wanted something that they could have ready access to, to enjoy the coins, because they could buy every mint that ever came to market, but they couldn ’ t necessarily always have them around due to the obvious security reasons. indeed, having that album allowed them to flip through the pages and see all the coins that they in truth loved and they weren ’ thymine ampere nice as the ones they paid beaucoup bucks for, but they were courteous enough to give them that sense of belonging to this hobby anytime they wanted to. Thank you, everybody. We ’ re going to sign off for tonight, and we ’ ll be back following workweek with another episode .
Chris : Yes, sounds good. Thanks so much for listening .
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