This week’s letters (08/20/13) | Silver Coins

This week’s letters (08/20/13)

2014 U.S. Coin Digest

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Collectors have duty to educate themselves
I see that a reader has corresponded with you (“Best of Buzz, 7/30/13) concerning Numismatic News&#8217 previously published definitions of “&#8230a commercial uncirculated coin and a slider.”
The reader seems really unhappy that Numismatic News did not pillory he whom the reader describes as an “&#8230unscrupulous greedy dealer [who]&#8230prices and sells the coin to a trusting collector as an uncirculated coin&#8230a flagrant violation of the American Numismatic Association Code of Ethics&#8230”
Although the reader has a point regarding condemning those who knowingly misrepresent the situation and value of coins they sell, is not there “another side to the coin?”
Doesn’t the “trusting collector” have any duty to educate himself (by signifies of totally free “coin mentors” who abound at each coin club educational material on grading coins published by Numismatic News and a host of other sources use of the coin return privilege that is supplied by coin sellers and so forth.) before spending his cash on either “raw” coins or, for example, overpriced “slabbed” coins of the sort typically supplied on Tv?
I personally feel sorry for those who “trustingly” send sums of cash by way of the Net to Nigerian princes, who will supposedly then shower the sender of that cash with countless riches in the near future, or those who get land in Florida sight-unseen, only to understand afterwards that their land is below water. Nevertheless, I often then think that a little prior work to educate oneself before “trustingly” providing one’s money to anyone for something may possibly lessen the quantity of suckers P. T. Barnum described over a century ago (“There’s a sucker born every minute.”) by 1.
If the “trusting collector” is too busy with life to take time to educate himself before spending his income, shouldn’t he be buying only reputably graded third-party coins, possibly with CAC stickers attached, rather than getting “raw” coins from anybody?
Or perhaps the “trusting collector” need to not commit his money at all on anything that he does not recognize well adequate to make a reasoned judgment about at the time of purchase, after which he is willing to accept complete personal responsibility for?
Bob Bair
Denver, Colo.

Postal Service delivers FedEx packages from Mint
Even though I’m no spring chicken, yesterday I found one thing I was entirely unaware of. Federal Express makes use of the U.S. Postal Service to deliver their packages!
I was checking on the shipment of a back-ordered item I had purchased from the Mint, as I had received an e-mail from the Mint on July 15 that they had sent my product over to Federal Express for delivery. I hadn’t heard something for a week, so I checked the tracking number on the FedEx site.
What did I uncover? On July 22 my item had been transferred by FedEx over to USPS for delivery. On July 24 it had ultimately arrived in Austin. The note said that it would be delivered to me sometime in the subsequent two days by the Postal Service.
When my carrier came to the residence yesterday afternoon, I asked her about this. She said, “Oh, yes. Our delivery vehicles are full of parcels each and every day that we get from FedEx.”
Do I truly care who ultimately delivers my merchandise? Not truly, except for two troubles not connected to the “who” from my end: (1) FedEx delivery, to me at least, implies a fast approach of shipment, as nicely as a traceable approach and (2) why in the planet would FedEx use the Postal Service to deliver their packages, and spend USPS for this? It seems to me that if it is worthwhile financially for FedEx to contract with the Postal Service to provide packages for them, then an individual is “overpaying” FedEx for their services! And this would certainly contain the U.S. Mint!
It will have taken at least 11 days for me to obtain my solution that the Mint gave to FedEx for shipment to me. If it is less costly for FedEx to contract with USPS for delivery, then the Mint need to be paying much more than they need to for shipment to me. I wonder if the Mint realizes that it is in the end the U.S. Postal Service that is making the delivery, and not FedEx??
Dan Sowards
Austin, Texas

Challenging for collectors to get MS-70 from grading firms
I would like to says cheers to J.D. Roberts relating to his “Viewpoint” column regarding coin grading solutions.
More than the previous 5 years I have sent at least a dozen coins to three of the 4 major coin grading services trying to get an MS-70 graded coin. These coins had been all silver Eagles bought straight from the Mint, handled really meticulously and checked beneath magnification for any flaws.
These dozen or so had been selected from hundreds that I have bought and were the cream of the crop. None of the coins came back graded MS-70 even although they appear the exact same or far better than slabbed MS-70 coins that I already personal.
I decided to do a test that cost me just brief of $ 200, but it proved a point.
I purchased six MS-70 coins for just below $ one hundred dollars from the three grading services I had dealt with in the previous.
I meticulously broke them out of their slabs and sent two every single of their personal graded coins back for grading. None of the coins came back as MS-70. Two came back MS-69, 3 came back MS-68 and a single MS-67.
I now know that 3 of the 4 key grading solutions have no integrity. They grade coins for companies as MS-70 because they send in hundreds or thousands of coins each year while men and women like myself can seldom get a coin graded MS-70.
David Wisniewski
Longwood, Fla.

Thanks for chance to design and style baseball coin
Baseball to me means “Pride in America,” and pride in America is usually represented by the American flag. Some of the most patriotic times that I have seasoned have been at sports events when absolutely everyone stands and salutes the American Flag throughout the singing of “The Star Spangled Banner.” Which is why I was disappointed to see that most of the 16 final baseball coin designs did not consist of an American flag.
I was one of the 178 original baseball coin designers. And, of course, I was disappointed when my design was not selected. I am proud, nonetheless, that my main concentrate was to contain a sizeable American flag blowing in the wind. My secondary concentrate was to figure out which baseball icon to include. I chose a batter slugging a single out of the park.
My greatest disappointment, even so, was not becoming notified as to why my design and style was not chosen. I’m hopeful that the U. S. Mint will in the end recognize all of the designers by listing their names at their website when the judging is completed and the winner is announced. Right after all, they only received 178 entries, while expecting ten,000!
Nonetheless, I appreciate the soliciting of coin designs from the public! I truly enjoyed the expertise!!
April McGuire
Falls Church, Va.

Grading firms need to use ANA Standards
This is in regard to the “Viewpoint” by J.D. Roberts in the July 30 edition of Numismatic News.
I completely agree with the remarks of J.D. Roberts regarding the grading standards of the third celebration grading solutions.
At one particular time, the ANA Requirements were the basis for grading by both collectors and dealers. Variations in opinion led to coin cost variations. Today, these value variations could also be primarily based on which service graded the coin.
The grading solutions offer you a assure of a free regrade if the coin owner believes that the coin was overgraded. This assure signifies that coins are most likely to be undergraded. (No free regrade for that!)
Today, coin buyers are probably to be far more interested in slabbed coins rather than raw. For them, there is no longer any need for ANA grading requirements.
But that could alter. The ANA could regain its influence concerning coin grading if they insist that all skilled graders operate with ANA to create a set of uniform requirements.
Stan Dubow
Ocean View, Del.

Do not waste money on new Liberty coins
U.S. Rep. Andy Barr of Kentucky must have a relative who styles coins. Why not get in touch with his bill that calls for placing Liberty on coins the Coin Designer Employment Act of 2013 and be honest.
Give me a break, Andy. Our coins are beginning to appear like European play funds a lot more and far more.
If he thinks the seigniorage will be some big profit machine for the U.S. budget, please think about how considerably effort goes into designing, the cost of those committees to judge, efforts of Mint personnel to set up, all that packaging and advertising.
And do not get me began on the poor old coin collectors who will purchase these silly issues, who must be spending their funds on meals and medication, not worthless coins their grandchildren will not be capable to get rid of.
Possibly I’m just a grumpy old guy, but does not our Congress have much better things to do?
Mark Parsons
Berthoud, Colo.

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