coin collecting

it is hard to rely on advertising claims.. people selling coins tend to over rate their coins.. i got me several coin this week at it seems that it is not as beautiful as claimed.. anyway, to start some friendship, i decided to buy some common coins for his asking price knowing that it will sooner or later reached that value..i just got two pieces of uspi 1945 50c coins at P380 each and five pieces of uspi 1945 10c coins at P75 each.. all coins were claimed to be "UNCIRCULATED" but upon closer scrutiny it do not pass "AU" because of dents and scratches, the only saving grace was its luster which seems natural even if clouded by greenish and brownish toning.. i cannot rate a coin uncirculated if it shows some damage. what do you think?

Al, don't mixed-up uncirculated from mint state. A coin my be uncirculated but my show signs of bumps or bag marks because coins usually passed thru several processes with other coins before ending-up in a roll.

The most important thing to identify to check if the coin is circulated or not is the luster. In my experience here in the Philippines, auction clubs usually grade their coins uncirculated even though they were already cleaned or dipped. It is correct that the grade is uncirculated but it is not in mint state though.

Mint state is the most conservative condition of a coin, para bang virgin kung sa mga babae. Never been touched.

Anyway, much better if you could submit some images so we could have better judgment.

kolektor wrote:

Al, don't mixed-up uncirculated from mint state. A coin my be uncirculated but my show signs of bumps or bag marks because coins usually passed thru several processes with other coins before ending-up in a roll.

The most important thing to identify to check if the coin is circulated or not is the luster. In my experience here in the Philippines, auction clubs usually grade their coins uncirculated even though they were already cleaned or dipped. It is correct that the grade is uncirculated but it is not in mint state though.

Mint state is the most conservative condition of a coin, para bang virgin kung sa mga babae. Never been touched.

Anyway, much better if you could submit some images so we could have better judgment.

You are right on the luster; not totally on the difference between uncirculated and mint state. Uncirculated or BU (bright uncirculated) is a term used to describe the state of a coin. If a coin is called BU, it generally means it has a grade of MS-60 or higher, usually up to MS-63. Mint state or "MS" is a grade given to coins. Some MS coins of low grade (EX. MS60) will definitely have bag marks, small dents, hairlines on, but not limited to the effigy. It can also be found on the fields surrounding the coin.

Mint state coins have not been 'circulated' in the sense that it still resembles a new coin, complete with the details and the lustre. But doesn't mean, hindi pa nahawakan. No such thing. You can always carry it by the rims, and it won't wear the coin.

Also, I think grading in the Philippines is pretty immature and in its infancy. I guess people who know how to do this actually takes advantage of others. Cleaned/dipped coins are always less than their grade's value. A coin that has been dipped, in my opinion, should not be bought unless it's rare.

Thanks kolector and vensinton for your informative points of view.

Pardon my ignorance but what do you mean by," A coin has been DIPPED?"

Regards and a great weekend to all!

edbsbc78 wrote:

Thanks kolector and vensinton for your informative points of view.

Pardon my ignorance but what do you mean by," A coin has been DIPPED?"

Regards and a great weekend to all!

Merong mga liquid solutions that are available in the market. If you dip your coin into that type of solution, it will remove the dirt, stain, etc, from the coin. It's another way of cleaning the coin, although this is generally more acceptable since from what I know, it does not remove the lustre. So pag nigrade siya ng certifier, nakakalusot siya sa comment na 'cleaned' in, I'm sure, many cases.

thank you everybody..

vensinton wrote:

edbsbc78 wrote:

Thanks kolector and vensinton for your informative points of view.

Pardon my ignorance but what do you mean by," A coin has been DIPPED?"

Regards and a great weekend to all!

Merong mga liquid solutions that are available in the market. If you dip your coin into that type of solution, it will remove the dirt, stain, etc, from the coin. It's another way of cleaning the coin, although this is generally more acceptable since from what I know, it does not remove the lustre. So pag nigrade siya ng certifier, nakakalusot siya sa comment na 'cleaned' in, I'm sure, many cases.

Thanks vensinton

edbsbc78 wrote:

vensinton wrote:

edbsbc78 wrote:

Thanks kolector and vensinton for your informative points of view.

Pardon my ignorance but what do you mean by," A coin has been DIPPED?"

Regards and a great weekend to all!

Merong mga liquid solutions that are available in the market. If you dip your coin into that type of solution, it will remove the dirt, stain, etc, from the coin. It's another way of cleaning the coin, although this is generally more acceptable since from what I know, it does not remove the lustre. So pag nigrade siya ng certifier, nakakalusot siya sa comment na 'cleaned' in, I'm sure, many cases.

Thanks vensinton

No problem guys. I'm here to help as well as to learn from my kababayans

still on this coin collecting hobby.. i got several pieces of USPI 10c 1945D coins each for its silver value, and quite luckily most of it has its mint shine although more than half the numbers were already with scratches, dents, hammer marks and other deformities that are surely not what many refers to as "bag marks".. hope somebody out there can share some excess / spare pretty coins which can be sold at its silver value for a guy who is starting over again... thanks.

Al. if you bought the coins at silver value and it has the mint shine as you said then that would be a great buy. it seems you want a mint state coins and not AU coins. i would suggest buy some bullion coins like canadian maple leaf or the canadian wild life series or american silver eagles. those coins are in mint state conditions and you will be contented if your after the looks of the coins. These are not just bullion round but a coin too. i know there are old coins that are in almost in mint state condition but very rare you could find these. you could buy coins like these at PCGS or NGC.

thanks, but i am only for philippine coins..yes canadian maple coins are pretty much available and are really beautiful..nice philippine coins comes once i a while. i am willing to wait and has the patience of a die hard collector.. again thanks..