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Dismantling a Roosevelt dime collection

July 18, 2017 in Auctions, Blogs, Coins, Collecting, Collector Sets, Education, Fun, Grading, News, Numismatica, Numismatics, Opinion, USA Coins

By: Michael Bugeja  News.CoinUpdate.com (Coin Update News)

Last year I won a stunning set of Jefferson nickels and wrote about it for Coin Update, explaining the process to dismantle a set (i.e., removing high-end coins for holdering). The process involves identifying toned coins, which command a premium, then checking for rare varieties or mint errors, and finally, selecting coins based on eye appeal and strike.

With regard to Jefferson nickels, premiums for strike occur with full steps (at least 5) on the reverse Monticello.

This month I won a premium set of Roosevelt dimes (circulation strikes) with a bid of $110 ($128.70 realized price) in an online Proxibid… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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A lesson in how not to compare grading services

July 9, 2017 in ANACS, Auctions, Blogs, Coin Errors, Coin Grading, Coins, Collecting, Education, Grading, Investing, Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins, World Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Every so often I will read something and even though I agree with the premise and possibly the hypothesis, I disagree with the method. This is what happened when I read “How do late ANACS slabs stack up with modern PCGS?” This article by Michael Bugeja at Coin Update is not the first of its […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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How do late ANACS slabs stack up with modern PCGS?

July 1, 2017 in ANACS, Coin Grading, Coins, Collecting, Education, Grading, News, Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service)

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Viewers of Coingrader Capsule know we test modern holdering companies, especially against the widely held half-truth / half-myth that early graders were more conservative than those of today. You can view several posts about that in Coin Update.

Here’s one of the first that I did in 2011, titled “Old Green Holders” [ain’t what they used to be]. Here’s another about “Inconsistencies of Old Green Holders.”

In the end, the earlier graders may have been stricter more often than not, but also more inconsistent than top-notch graders for PCGS and NGC. So I decided to crack out and test these quarter…Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Exaggerated descriptions plague coin auctions

June 19, 2017 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, Ethics, Grading, Investing, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I am growing weary reporting exaggerated descriptions in online coin auctions hosted by major portals, such as Proxibid and eBay. While it is difficult for those portals to monitor all lots in multitudes of auctions, it nevertheless hurts the hobby when hyped descriptions are not reported.

Here are just a few recent examples. I could provide many more, but these deal with coin rolls, raw coins, and holdered coins by eBay-approved and unapproved companies.

Let’s start with the “never opened” roll (hover cursor over images to zoom)… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Caution on coins during vacation

May 31, 2017 in Auctions, Coins, Collecting, Education, News, Numismatica, Numismatics, Opinion

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Proxibid sent the email above (hover to zoom in) allowing me to bid in an auction while I was abroad on vacation. I had to verify some details for the company before being allowed to participate. Here’s what happened: During a lull in vacation activities, I had gone to the business office of my hotel and tried to bid in an online auction hosted by the portal. As soon as I did so, I was informed that my account was being investigated and approval to bid in the auction was pending.

This is one of the reasons I patronize Proxibid more… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Grading Capped Bust half dollars

May 10, 2017 in Antique Coins, Coin Grading, Coins, Collecting, Education, Grading, Half Dollars, History, Investing, News, Numismatica, Numismatics, Online Tools, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Grading Capped Bust half dollars is a challenge, especially to new hobbyists unaccustomed to the series, which ran from 1807 to 1839 and which continues to be popular because many of the dates are affordable and come with a large selection of die varieties (including overdate strikes).

We’ll save overdates for a future column. This post concerns circulation (business) strikes. The denomination was used heavily in circulation, and that accounts for the typical wear you will see on the high points of the obverse and reverse.

The grading basics of this post concern high points where wear is readily distinguishable: the raised… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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When flat bids are not mentioned in terms

May 1, 2017 in Auctions, Coins, Coins for sale, Collecting, Education, News, Numismatica, Numismatics, Opinion

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I’m an experienced online coin buyer, blogger, and numismatist, and even I get caught on occasion when auctions do not mention flat bids in their terms of service, which I always read.

In an April 23 session on HiBid.com, there was no mention whatsoever that an online catalog was programmed to take flat bids—an amount that serves as both the opening and maximum bid all in one.

Case in point: If you state $100 for a coin lot, that becomes the starting bid. You will win that coin for that amount if no one else bids. In an online session that closes… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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More Bidding Basics: Buy It Now & Make Offer “Deals”

March 18, 2017 in Auctions, Coin Grading, Coins, Coins for sale, Collecting, E-commerce, Ebay, Education, Grading, News, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Every now and then we need to monitor the major online coin portals in our “Bidding Basics” series—this time, concerning “Buy It Now” and “Make Offer” deals on Proxibid and eBay.

Some general rules:

  • Never bid on raw coins unless you are an expert grader, trust the seller, can view excellent photos, and can return the coin if unsatisfied.
  • Never bid on coins in bottom-tier slabs unless you spot a mistake like a rare error or variation that isn’t listed on the label.
  • Consider not wasting time on “Buy It Now” offers unless you need the coin or currency for your collection… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Dipped: Know the Tell-Tale Signs

February 28, 2017 in Antique Coins, Coins, Coins for sale, Collecting, Copper, Copper Coins, E-commerce, Ebay, Education, Morgan Silver Dollars, News, Numismatica, Numismatics, Opinion, Pennies, Rare Coins, Silver Coins, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Increasingly on Proxibid, HiBid, and eBay, I am encountering dipped coins, making me wary about placing any bids, even on Morgan dollars like this 1902 one depicted above. That’s not how a 115-year-old silver coin is supposed to look, unless it was broken out of a bank roll, in which case the seller would have offered more than one in this condition.

This coin was expertly dipped, meaning it still may slab at PCGS or NGC.

You can buy dips at coin shops, at shows, and online. Each dealer or expert hobbyist has his or her formula, usually diluted with… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Follow-up: The Volatile State of Online Estate Auctions

February 14, 2017 in Auctions, Coins, Coins for sale, Collecting, Education, Investing, News, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Earlier this year I wrote an investigative analysis titled “The Volatile State of Online Estate Auctions,” noting how tardy technological upgrades in addition to fees from auction portals and credit card companies—often combined with building rent and/or upkeep of onsite facilities—continued to push buyer premiums ever higher.

Shipping has always been an issue with auction houses. Some use third-party shippers. Some do not ship at all.. And a few charge high shipping fees..

These costs were passed to bidders, I noted. At first, auctioneers with onsite clientele did not charge local buyers any fees. Then many had to do so… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Ups and Downs of Online Auctioneering: An Interview with Sheena Wallace

February 1, 2017 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, Investing, News, Numismatica, Numismatics, Opinion, Photography, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

 Online coin auctions are challenging for buyer, seller, and auctioneer, says Sheena Wallace, who helps run Auctions by Wallace, an onsite and online auction that typically showcases coins each week.

On her website, she notes that her company has “a proven track record when it comes to selling coins.” She emphasizes that her coin auctions are competitive because of the combined online and onsite crowds. She also has taken pains to provide hobbyists with expert photography.

I’ve consigned coins with Auctions by Wallace because the bidders tend to know numismatics. So rare lots tend to go at higher rates than… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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The Volatile State of Online Estate Auctions

January 9, 2017 in Auctions, Coins, Collecting, E-commerce, Ebay, Education, Investing, News, Numismatica, Numismatics, Opinion, Rare Coins, Technology, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

payment

For the past seven years I have bought and sold coins almost exclusively via the Internet, preferring estate auctions on Proxibid over other venues. I even created a blog, no longer active, called Proxiblog.org, to monitor the company. I still prefer Proxibid over other portals, even eBay—too much competition there, too little oversight, and too few actual auctioneers.

But even auction portals like Proxibid may be falling behind technological trends, and that can spell dire consequences for the hobby.

Before 2011, I bought coins almost exclusively from dealers and coin shows. When I started bidding on Proxibid, I discovered that I could… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Crack-outs Bring Mixed Results

November 21, 2016 in Coin Grading, Coins, Collecting, Education, Investing, News, Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service), USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

crackout1880nnc

A regular feature of Coingrader Capsule is the cracking out of slabs by lesser holdering companies to see how they do in the big leagues, namely, PCGS or NGC. Specifically, I wanted to test some coins slabbed by National Numismatic Certification, which I reviewed in September, stating that its grading was inconsistent but, on occasion, good coins can be found encased within. I bid high enough to win these samples:

The 1880 Morgan is difficult to find in gem condition, and this one looked like it might pass muster. At MS-65, PCGS values it at $675.

Here’s a close-up of… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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High-End Sets Usually a Bargain — This One Was Stunning

November 4, 2016 in Auctions, Coin Grading, Coins, Collecting, Collector Sets, Education, Fun, Grading, History, News, Nickel Coins, Numismatica, Numismatics, Opinion, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

nickel

As you can see, I won this Jefferson nickel set in a Capitol Coin Auction on Proxibid. The set was described as special, and because I trusted auctioneer Brad Lisembee’s numismatic skills, I bid $300, with the set coming in a hundred less than my maximum.

I was not disappointed. Nearly every nickel was gem, as he stated, although some were duplicates of the same date put in a spare slot in the Dansco album. For instance, there was no 1938. A 1938-D was placed there instead.

This article explains how to dismantle a set of coins. First, you want to identify… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)




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The Domino Effect of No-Pay Bidders

October 21, 2016 in Coins, Coins for sale, Collecting, E-commerce, Ebay, Education, News, Numismatica, Numismatics, Online Tools, Opinion, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

call-of-duty-black-ops-ii-multiplayer

Online bidders who think coin auctions are a kind of video game do damage, not only to their own credit (if they even have or care about credit) but to portals, auctioneers, consignors and buyers who lost out on bids or who will pay ever-higher premiums when they do win coins.

I used to sell on eBay and had to follow up on no- and slow-pay buyers, often leading to uncivil messages that made me stop doing business on that portal, content to consign to popular auctioneers and pay 10-15% seller fees in addition to more fees for photos and listings…. Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Review of National Numismatic Certification

September 6, 2016 in Coin Grading, Coins, Collecting, Grading, Investing, News, Numismatica, Numismatics, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

NNC

Increasingly I have been seeing slabs by National Numismatic Certification, a Florida firm, whose coins I sometimes bid on despite its grading being inconsistent at times, with flaws that would disqualify coins at PCGS or NGC. But that’s not an issue if you know how to grade, because some NNC-holdered coins are grade-worthy and, on occasion, near what a top company might award.

Please keep this review in perspective. CoinUpdate reviews books, services, and other aspects of the hobby. This is not an endorsement to submit coins to NNC, nor is it a warning not to. There are two… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Grading Results of Cleaning and Old Green Holders

August 22, 2016 in Antique Coins, Coin Grading, Coins, Collecting, Education, Grading, News, Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

safecleaning3

Remember these coins? Two on the right were cleaned with MS70 detergent and two with an undisclosed dilution of water and Jewel Luster, a dipping product. All were cracked out of PCGS holders to test cleaning and grading consistency.

 

You can read about the perils of cleaning in this prior Coin Update post, focusing on these coins.

The dipped coin received a one-half upgrade to 64+. The other three graded MS-64, aligning with the old green holder grades. Again, as… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Monster Toning, Monster Prices: It’s Still Just Bullion, Folks!

August 6, 2016 in Bullion, Coins, Coins for sale, Collecting, Education, Investing, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

monster

The screenshot above came in a search of “toned” and “monster” Silver Eagles on eBay. There were hundreds with “Buy It Now” prices ranging from $50 to $5,000.

This article tries to put the issue into perspective for those considering bidding or buying one of these coins. You may want to do so because of a unique pattern, for instance, or perhaps because you want at least one for your collection before they vanish. Or perhaps you are trying to build a set of toned Eagles.

Good toned examples are becoming increasingly difficult to find.

And as always, a coin is worth only… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Online Platforms vs. Buyer’s Fee: Share Your Views!

July 7, 2016 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, News, Numismatica, Numismatics, Rare Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

proxibid4

Occasionally we need our viewers to weigh in on a complex or controversial issue, and this is as controversial as it gets: questions about where you do online coin business and why and what terms you are willing to accept or reject.

We will cover fees (paid by sellers and buyers) in addition to services before sharing some examples from my Proxibid experience–which you can affirm or contest, as always, because your opinions matter at Coin Update.

First, some background to inform your views.

Last year Numismatic News ran an interesting and prescient piece chronicling the reasons hobbyists are buying more coins online… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Cracking Out Top-Tier Holders

March 12, 2016 in Certified Acceptance Corporation (CAC), Coins, Collecting, Education, Grading, News, NGC (Numismatic Guaranty Corporation ), Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins, World Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

ngccrackout1

Some believe that when a top-tier grading company such as PCGS, NGC, ANACS or ICG slabs a coin, it is the last word on the grade. However, after a numismatist gains sufficient expertise, he or she can spot an under-graded coin, or what is perceived to be one.

In this article we are discussing crack-outs, not crossovers, or resubmissions. NGC only considers crossovers from PCGS, a policy I have criticized repeatedly here, especially when the coins are slabbed by ANACS and ICG. If you want to learn about choosing candidates for crossover and resubmission, click here.

The crack-out… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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NGC Upgrades Guides to Match PCGS CoinFacts

February 13, 2016 in Coins, Collecting, News, NGC (Numismatic Guaranty Corporation ), Numismatic Societies and Clubs, Numismatica, Numismatics, Opinion, PCGS (Professional Coin Grading Service), USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

priceguide

Following the PCGS announcement late last year that CoinFacts would be available to hobbyists for free, competitor NGC has launched a nifty, enhanced price guide that contains many of the same features as CoinFacts, with graphics, census data, and auction prices.

In a news release earlier this month, NGC claimed that its U.S. Coin Price Guide is faster and easier to use–on computers, tablets, and smartphones.I tried it. The company is correct.

When you log on to the price guide, you locate your coin type from a table of images, making the selection easier and more visually appealing than if… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Crack-Out or Reconsideration? See these results!

February 2, 2016 in Auctions, Coins, Collecting, Education, Grading, History, Investing, News, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

crackout

Recently in an estate auction I won more than 50 lots of coins in older green PCGS holders, which traditionally have the allure of being conservatively graded and deserving of upgrades.

For several years now I have been submitting my own coins to the top holdering companies, paying an annual fee for that privilege to PCGS and NGC. (ANACS and ICG do not charge fees; but I seldom submit to them because I have set registries in the other two top companies.)

Only rarely do older numismatic estates come up for auction, and when they do by the major houses such as… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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FLAWED GOLD: How to Spot and Lessen Risk

January 20, 2016 in Bullion, Coins, Collecting, Education, Gold, Gold Coins, News, Numismatic Crimes, Numismatica, Numismatics, Precious Metals, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

flawed Gold

With the price of gold at less than $1100 per ounce, many hobbyists are buying old coins rather than bullion, taking advantage of price and adding raw coins to their collections. However, unlike other numismatic items, raw gold comes with more potential problems because of the soft metal, history of counterfeits, improper care and, lest we forget, unscrupulous sellers.

Some problems lessen value but still may earn a grade at the top holdering companies. Many problems will not be worth slabbing. And a few problems are outright frauds.

The most common flaw is the test cut. Such cuts were made to discern… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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PCGS Prepares Labels for Mint’s 2016 Classic Commemoratives

January 9, 2016 in Coins, Collecting, Commemorative, Dimes, Education, Gold, Gold Coins, Half Dollars, News, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), Precious Metals, Quarters, US Mint, USA Coins

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

Mercury

Professional Coin Grading Service (PCGS) announced today that it is developing a full suite of attractive labels for 2016 coins commemorating classic designs by the U.S. Mint, featuring .9999 24-karat gold coins in the original size of the Winged Liberty dime, Standing Liberty quarter dollar, and Walking Liberty half dollar.

The Winged Liberty dime, designed by Adolph A. Weinman, includes an image of Liberty that often is mistaken for the Mercury, the Roman god, which is why the denomination is often called the Mercury dime. The gold issue of this coin will contain “AU,” symbol for gold, on the reverse. It… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Review of the 7th Edition of Travers’ Coin Collector’s Survival Manual

December 21, 2015 in Books, Coins, Collecting, Education, History, News, Numismatica, Numismatics, Opinion

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

travers

As a coin collector for more than 50 years, I have a very select library. For years, Scott Travers’ The Coin Collector’s Survival Manual was a must-have work that informed and enhanced my numismatic education. Viewers of Coin Update know about my background in coins, including serving as a columnist for Coin World and as a former member of the Citizens Coinage Advisory Committee. Many also know that I am a journalism educator and author of media ethics and technology books, including works by Oxford University Press.

In fact, I am in the process of writing the second edition of… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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