Youtube Coin Community

As you are probably already aware, I participate actively with the coin community channels on youtube.  Lots of great shows at any time day or night.  Some channels are able to present their show LIVE, with an interactive chat allowing the viewers to ask questions, talk about coins, and generally yuk it up.

The community is growing and is expected to continue to grow.  It is not inconceivable to see another million viewers come to use youtube as an information and entertainment source when it comes to coin collecting.  Already one channel, Couch Collectibles, has breached 100k subscribers, with several others getting close.  Well Done, Justin! 

Observing the progress of several channels I have notice a trend develop.  Initially, videos will be experimental as the creator learns how all the software and systems work.  Next comes a more regular format.  Sometimes it's talking about coins, perhaps coin roll hunting.  As the subscriber base grows many channels move into a sales dominant format. 

I've mentioned before: Youtube, with it's ability to allow the creator to show coins in high resolution to a live audience worldwide is an ideal platform for presenting coins in a live auction.  People are taking notice.

I've talked at length about the opportunity this hobby offers.  Using youtube as a platform for creating videos, be they coin related or not, offers the creator to develop an income.  Once your channel reaches 1000 subscribers and maintains 4000 view hours over the previous 12 months, the channel owner is able to monetize their videos.  Those ads at the start of the video generate income for youtube.  It is shared with the channel owner.  Videos which receive copious views and viewer interaction stand to earn a respectable amount.  What's more, these earnings are cumulative and paid out monthly when the balance earned reaches $100 or more.  December will make the 4th time I have been paid by youtube.  It goes through Google Adsense and is deposited directly into my checking account.

The requirement for livestreaming is less stringent - you need 100 subscribers.  Being able to livestream opens new doors.  While a video receiving 1000 views can earn a person $2-5 depending on the level of interaction, likes, comments, and the ad rates charged, there are show formats which make it possible for the creator to earn far more.  A well presented show can generate hundred of dollars in sales.  I've exceeded $1000 in sales over the course of a 2 hour program. 

The incentive is in place to establish a channel with informational, educational shows to build an audience, then leap to live sales.  The effect has resulted in an abundance of sales shows and a drought of coin discussion.  Last night saw 3 channels with live auctions streaming simultaneously.
It's a perfect example of The Tragedy Of the Commons: a finite resource being overutilized by individuals to the detriment of all.  3 shows at the same time splits up the audience.  Their sales suffer as a result of fewer bids, lower prices.  On the other hand, it benefits the buyers, getting good deals. 

Thinking things through to their logical extension, if the current situation is left unchecked we can expect to see more sales shows and practically no suitable content being produced to educate new collectors.  A handful of channels will come to dominate prime time, up and coming channels will be shut out, and prices will slip as the sellers compete for market share.  In effect, its a race to the bottom.  While it may seem to be a boon to buyers, history shows that a reduction in quality accompanies this Coin War.  In the end, nobody gains, everyone loses.

Since the incentive is in place for everyone to do their own thing, and in the absence of a governing body to regulate the industry, this race to the bottom becomes a problem with no technical solution.  What we have is a moral question: How will we treat each other?

It is up to the members of the community, content creators and viewers, to address these issues in order to maintain quality programming, ease competition, draw new viewers and above all else, promote the hobby.  Cutting each others throats, streaming over other people, slashing prices, and offering substandard coins regularly only serves to drive away viewers and create animosity between creators.  This is a hobby.  If we're not having fun, we're not doing it right.  Let's look at the parties involved, their interests and incentives, and what we need to do to best organize and regulate our beloved coin community.

Viewers
We want good quality programming on diverse subjects, accurate information, and entertainment.  We want to interact with the host as well as other viewers.  We want to know where else to go for more information, be it other channels, websites, books, and references.  We're here for the enjoyment of the hobby, and want to learn.  We're not interested in drama, rage, hate or spite.  We might be willing to discuss politics, religion, or current events, but as a discussion rather than a diatribe, an in the scope of how it applies to the hobby.  We like giveaways!

Kids
We want an atmosphere conducive to kids.  Cursing like a ditch digger, dabs, and graphic content are not appropriate.  We also want to learn at a rate we can keep up with.  Some technical terms are ok but it does not need to be cartoons and butterflies.  We're here to learn, and we're just as serious as the older folks.  We're the future of the hobby and should not be overlooked.  Include us and we'll watch.  Teach us the benefits of teamwork and cooperation, we'll carry that with us for the rest of our lives.

New Collectors
We don't know what we need to know or what to ask.  We think these coins are kinda interesting and
would like to hear more about what its all about.  Drive us away, we ain't coming back.  Educate us, we'll show up more and might even invite some friends.  We have a lot of questions.  Please try to answer them.

Foreigners
Co je to reklama mince, stojí za něco?

Sellers
We want to use this platform to market our wares, get paid, not get ripped off, and develop a side income, secondary income, or full time enterprise.  We don't want trolls disrupting the show or giving the chat too much atmosphere.  In short, it's an opportunity that can improve my situation and the incentive is in place for me to give it everything I've got. 

Buyers
We want good quality coins, accurately graded, at fair prices.  If there is an issue, we deserve to know about it beforehand.  Show us what you've got, the good and the bad.  Give us a couple days to pay.  If we don't like it, we'll want our money back in a timely manner and not have to jump through hoops.  We would probably buy more stuff if you gave us a preview.
And don't be spamming up the email without approval.

Moderators
We offer our time, attention, and services.  We put up with a lot of BS, get attacked by trolls, and get them out of the way so your buyers can have faith in your auction prices.  Without us your sales will suffer.  Often we do this without so much as a thank you.  If it keeps up, we'll be washing our hair during your next show.  Sometimes the sellers produce their show and expect us to do our thing without advance notice.  Our time is precious and has value.  What we do makes it possible for you to do what you do.  We should not be neglected.

---

If we don't take responsibility for our community, things can get out of hand.  The incentive is to produce sales shows to the exclusion of teaching and having fun.  Too many sales shows and overlap starts to create animosity.  We must guard against this.

Long term success calls for a growing community of collectors.  Shows that educate draw in collectors, as we have proven with the Coin Seminar Weekend project.  It makes good sense to balance sales with teaching and hobbying.  Informed collectors make better buyers so it's a win all around.  They'll buy when the time is right.  Teaching brings that time sooner.  Don't neglect the fun stuff even if it's neither teaching nor selling.

If you are learning and prefer those educational shows, support them.  Lack of support is why new educational shows have dried up.  Fact: if an educational show generated 5-10 bucks from viewer support, it would be incentive enough to flood youtube with good content.  Send em a buck, leave a comment, share in your social networks and subscribe to the channel.   At the very least, give em a thumbs up.

Livestreaming is easy to produce and easy to watch.  There are so many active livestreaming channels that watching previous shows has fallen out of favor.  There is enough diversity of subject matter that simultaneous streams won't necessarily compete with each other.  Each channel will develop it's own audience.  Viewers will watch what they like.  It's a fact that sellers would do well to organize themselves in order to best utilize the limited time available and assuage grievances regarding competition.  Simultaneous shows can work-Jack offers high end rarities, Jill has coins for new collectors, John is doing foreign coins, Jane with her banknotes, Joe with exonumia, Judy presenting her silver rounds, and Gurtunca is doing...well...we're not really sure what he's doing.
A good sales show will draw in viewers and buyers.  If you have put in the time and effort and built a loyal following, you deserve to reap the rewards of that work.  If you are producing sales shows several times a week, good for you.  You''ll surely be able to get by without my continued support.  I'll promote the next up and coming channel.

I dont want to stream over Robert, Mantic, Cheapskate, Lemon, SJ, CJ, Fluffy, JB, BLKSteel, or any one of a hundred channels, but if I acquiesce I suffer and the light bill is due tomorrow.  It's the same for everyone else.  There's only so many hours in the day and some of these shows can run for hours and hours.  If we were to set up a schedule and people were limited to a single time slot, the entire week could be filled with just the current active channels with over 1000 subscribers.  Next year, there will be scores of new channels.  Are they to be shut out simply because we were here first?

This much is certain: There are no proprietary rights or claims to a time slot.  There is no anti-competition clause to which we must abide.  There is no decree saying you can't go live just because someone else is already live.  On the same thought, there is nothing stopping someone else from going live if you are already live.  It's a free for all, but we can still work together for the common good.  I set up the Youtuber Coin Community group on facebook as a means of continuing discussions after a stream ends and for sharing photos and ideas.  I think it would be a splendid platform for folks to use to better coordinate their video activities.

Looking at the bigger picture, I think the best way to proceed is to build the community:  A rising tide raises all the boats.  We'll all go further working together than going it alone.  Growing the community, supporting each other, offering numismatic programming in addition to sales is a proven method of building all our channels.  Twice as many livestreams will be not suffer if there are twice as many viewers.  The community works very well when we promote Quality Channels.  I urge all content creators to strive to improve their show.  Make a conscious decision to become more kid friendly.  If you want to see your channel promoted, stop swearing (this will be hard for me), put away the dabs, ease up on the drinking, don't be telling inappropriate stories.  Those channels which conform would likely see their show promoted more.

Don't be afraid to share the link to a good show.  Facebook, twitter, pinterest and other social networks can be used to advantage in promoting the hobby.  We're nerds, and it's the kind of nerdiness we can be proud of.  There are lots of other people out there who have an interest in the hobby and will respond favorably to shared videos, articles, sites, and even sales shows.

What matters most is how we treat each other as we move forward.  If you want a bigger piece of pie, make the pie bigger.  If you want more people to enjoy the pie, make it a pie worth eating.

I invite ideas and discussion about ways to improve the community, defray confrontation, and make the world a better place in the Youtuber Coin Community group on facebook.

Lincoln Cents Small And Large Dates Complete List

I've posted before about identifying large and small dates.
Here's the short version

1960 P small date

1960 P small date Proof

1960 P large date

1960 large date Proof

1960 D small date

1960 D large date

1970 S small date

1970 S small date Proof

1970 S large date

1970 S large date Proof

1974 P small date

1974 D small Date

1974 S small date - displays MMS-009 (Tall Mintmark)

1974 P large date

1974 D large date

1974 S large date - displays MMS-008 (Doubled Mintmark Punch)

1982 small date copper

1982 small date zinc

1982 large date copper

1982 large date zinc

1982 D small date zinc *Note - NO small date copper but 2-3 have been found

1982 D large date copper

1982 D large date zinc

1970 P and D - all are large date

1974 S Proof - all are large date, has 2 mintmark varieties, MMS-008 and MMS-009

1982 S Proof - all are large date copper

Video Coin Seminar Weekend

Note: The November Seminar is being set up. Click the Image to the right for current information.

 ANNOUNCING:
The First Video Coin Seminar Weekend

August 25-26

This is the First of it's kind: a weekend long series of LIVE coin collecting videos, dozens of channels, Giveaways, Auctions, Sales, lectures, and presentations on Coin Collecting, medals, tokens, currency, errors and varieties, and all things Numismatic.

Being LIVE, the viewers will be able to ask questions of the Host and interact with other members of the coin community in real time.

With channel producers and viewers able to contribute to the project by promoting it to their audiences and circles of friends, we can make this a remarkable event, bringing hundreds, perhaps thousands of people deeper into the hobby.

PURPOSE

To invite new collectors, potential new collectors, as well as experience coin collectors to visit and watch a two day lineup of live coin videos.

WHO

You, me, them, everybody.  Anybody.  If coin collecting is your thing, this thing is for YOU.

WHEN

August 25 - 26


The idea is simple enough: organize the youtube coin community in order to produce a steady lineup of coin videos and make it a weekend event - a Coin Seminar Weekend.  Content creators and show producers select a day, time, length, and subject.  Everyone involved promotes the event in their social networks, be it Twitter, facebook, Pinterest, MeWe, Instagram, or email.  The key is getting the word out.  Working together, we can reach tens of thousands of people.

The numbers are there.  To pull this off with great effect, 9AM-11PM,  15 hours, 30 minutes per program, 30 shows per day, 60 shows over 2 days.  With hundreds of numismatic themed coin video channels on Youtube, getting the content creators involved is simply a matter of getting the word out.

Line up the shows, promote the event, make it happen.


We've started brainstorming the idea.  In just a couple of days, bunches of people have expressed interest.

The comment section of the video allows for discussion of the subject.  We can also talk about it in the facebook group: Youtuber Coin Community.

GET INVOLVED!

YOU help make this happen.

• If you have a video channel, Plan on going live and let me know so I can add you to the Showtime Lineup.  
• Make a video to announce the event.  Share your video everywhere you can.
• Mention the event in your livestream.  
• Got a blog?  Talk it up in there.
• Create an image or meme that can be posted to the various social networks to promote the event.
• Spread The Word!
• Invite people to watch.
• COINS! COINS! COINS!

What to talk about in a livestream

We all have our own way of doing things, be it collect coins or make videos.  There are people hungry for good information about the hobby, and not many portals to get that information.  Video presentations are rapidly gaining traction as the premier method of showing off your collection, teaching people about the hobby, explaining errors and varieties, auctioning and selling, and just plain old coin talkin'.  Share your stories.  Share your coins.  Share information.  Make it inviting and informative.

Really, there is no limit to what you can do.  For the sake of the Seminar, a show with a duration of 30 or 60 minutes will fit the schedule for the weekend.  Show your coins, talk about a subject, field questions, and at the end of your show, mention the channel next in the lineup to invite the audience to keep on going.

Truly, the subject matter is without limit.  Go with your strengths.  Talk about what you collect and are knowledgable about.  Explain your channel and what you usually offer the audience.  Tell us about yourself, how you got started in collecting.  Show us how you do what it is you do.

Coin roll hunting, set building, series collecting, foreign coins, getting started in collecting, coin storage, how to handle coins, identifying varieties, grading, coin photography, foreign coins, copper, silver, gold, organizing your collection, coins and kids, book reviews, clubs and organizations, coin shows, broadcast from a coin shop or show, interviews, class lectures, Q&A, Show and Tell, Proofs v Satin v Business Strike, silver rounds and art bars, currency collecting, exonumia, trade tokens, merchant tokens, medals, ancient coins, coin trivia, identifying counterfeits, woodies, clipped planchets, mint and proof sets, rotated dies, colonial coinage, history, metals, how coins are made, silver stacking, bullion, Eagles, Pandas, Maple Leafs, Krugerands, behind the scenes, determining value, what to collect, notekeeping, recordkeeping, what to avoid, how to get coins graded, price guides, key dates, rarity, slabs, websites, internet resources, places to go, things to do, coins to see.

Those of you who are new to livestreaming would do well to practice before the event.  Make sure your equipment and software is working the way they should.  If need be, write a script or draw up an outline for your video.  Make a few videos so you are comfortable with live video.

Giveaways
This is not required to be involved in the seminar.  It's a sure bet people will appreciate it.  If you will be giving something away, be sure to let me know.  I'll add a note in the Showtime Schedule.


I hope to hear from you all soon!

Consignment Coin Sales

I have restarted my Friday Night Madness coin sales series on Youtube.  I had taken on too many projects and needed to catch up, but its back and better than ever.  I have teamed up with Robert Lawson on alternating weeks to bring more diversity to the Youtube coin community and not get overwhelmed.

Several people have contacted me expressing their desire that I would offer their coins for sale.  It is a project I have wanted to bring online and have been putting together notes on how it would be

equitable for all involved.
I'm in the midst of working out the final details and will be adding to this article over the next couple of days in order that we can move forward with the project.


Before you start shipping crates of coins, please contact me via email.






A signed copy of the Consignment Agreement must accompany the first package.  You can copy/paste the agreement into a text document and print it from there.

Consignment Agreement

Fees

This is not a free service.  I have expenses and taxes just like everyone else.  In order to cover the costs involved and earn an honest living, I charge for my services.  In order to discourage unsavory characters from trying to take advantage of the situation, some fees will be paid in advance.

Shipping Deposit
Handling and Processing
Commission
Additional Fees

Unacceptable Coins

Not all coins are suitable for live video sales.  There are quality standards that must be applied to safeguard the reputation of the channel and all personalities involved.

• Coins that are damaged, bent, scratched, defaced, cleaned, polished, altered, repaired or otherwise in an unoriginal state will not be accepted.
• Low value coins may not be justifiable due to the commission and fees involved.  Coins with a market value of  less than $10 would not leave much for the owner.  
• Common date, high mintage coins may not be the best choice to submit.
• Unidentified and misidentified coins may not draw the premium deserved
• Improperly graded
• Counterfeit, reproductions, fake, and non-genuine items

Advantages Of Consignment

Inexperienced sellers may not reach the market potential of the coin, may not understand the nuances involved in marketing, shipping, billing, and customer service.
New sellers may not have the reputation and customer base to effectively sell a coin.
Even experienced sellers may not have the technical expertise to successfully employ internet livestreaming.
Combined shipping with coins from sellers spread across the nation.
Economy of scale.

Being able to sell your coins through consignment puts the items in front of a considerably larger audience than you may be able to on your own.  It opens the door of opportunity for people to generate an income and accelerate their coin enterprise.  A few bucks here and there can develop into a regular income stream that may eventually compete favorably with full time employment.

Buyer Protection
All coins are vetted.  Before being offered for sale they are examined for suitability, quality, accuracy of grading, and authenticity.  Sale price or starting bid must be agreed between myself and the seller before a coin is offered.  There will be no excessively priced, impaired, or outrageous offerings, no tomfoolery, no Bait and Switch.  You can't get this on eBay.

Anonymity
The name and address of the owner will not be disclosed to the buyer.  Concerns for safety and security are subdued with the general public having no knowledge of the source of the coins. 
Since the coins are juried and approved prior to being offered, its all about the coin rather than the personalities.

Related articles and videos

Video: Discussion of the Consignment Agreement

Flipping Coins

Let the Hobby Take Care of Itself

How Much Additional Income Is Enough To Make A Difference?




Topics under development for this article
Quantity
Shipping address
Payment
Recordkeeping
Point By Point Examination of Consignment Agreement

Tall Tales

When I pick up boxes of pennies bank I often queried by the teller regarding the purpose of wanting so many pennies.  I gotta admit, it takes all my strength to suppress my knee-jerk response of "NONE OF YOUR BUSINESS!"  Instead, I find ever more creative stories to distract their attention from my actual objective: Coin Roll Hunting.

An example of an effective tale comes from last year.  I was working a job at a paper mill out of town.  The job was finished mid day and I headed home.  Driving through town I stopped at several

Photo from Pinterest.

banks to pick up some boxes, still in my jeans, boots, and hairstyle left by a hardhat.  The teller asked what I was doing with so many pennies.  I explained they were to be used to cover the top of a bar at a house I was working on, with a clear resin poured over the top.  People could pick out the
dates..."This is when we got marries"..."This was when we bought the house"..."This is when little Billy was born."

She ate it up, offered me more coins, asked me to bring back photos.

I never did build a bar covered with pennies, but if I did, I'd be sure to take a photo in with me on my phone.  Other construction projects covered with pennies include floors, end tables, and countertops.  It's a believable story.  They look great, it can be done by anyone, and the cost is quite reasonable.

Another tall tale that I have used extensively is  the tale of a kid stacking pennies.  This one developed over several weeks when I stopped in to the same bank where I did not have an account.  If you say the coins are for a kid, they tellers are much more willing to part with their boxes.

In this story, I'm at that bank because I don't have time to drive across town to get to my own bank.  There is a kid who comes into the restaurant I work at to get a tall Iced Tea.  He mows lawns, it's hot.  He takes his lawn mowing money, buys pennies, stacks them, and makes videos.  But check this out...he makes money on the videos.  He's saving up so when he's 16 he can get a truck and a trailer and mow more lawns.

They love this story.  It combines a kid with work ethic and saving for the future.  At one point that particular bank shut me off for not having an account there.  Fortunately there was a lady behind me heard me explain everything before being so callously shot down.  She had an account and asked for two boxes of pennies.  I gave her 50 bucks and told her to type in "pennystacking" in the Youtube search bar.  It really IS a Thing.

People stack pennies in pyramids.  Sometimes with lights.  It's really quite impressive.  Here's a stack with around a quarter million pennies...

I'm not alone in my shenanigans.  David W writes

When I go into banks to get a box every now and then, I always say that my nephew is starting out with collecting coins and I thought it would be neat to get him a box of pennies. If I remember it, I also ask if they have any Kennedy Halves or Ike Dollars. Of course if the ladies only knew that I'm 61, and my nephew is over 35... they might not give the pennies up to readily.

New Feature: Index Of Articles

This little blog has come into it's own in the past couple years.  Currently it receives thousands of pageviews each month with no end in sight.

To improve browsing and make it easier for readers to find articles of interest, I have added a page:

Index of Articles

You'll find it on the right side of the screen at the top of the Jump To list.

Passing the Baton

If I could teach one thing, it would be Self-Reliance.

If someone knows where to hunt for information and what questions need to be asked, they stand to be able to improve their knowledge on their own.

Historically, knowledge and wisdom (the Craft) came from self study. There were books and periodicals available, coins to be seen at shows, other collectors to talk to. When the show ended, the sun went down, and the lights went out, that was about it for the day. With the advent of the internet and, lately, advancements in digital photography, the world of knowledge has opened grand vistas never known before in the hobby.


Back in the day I could borrow every book about coins from the local library and haul them home in a backpack, and that was a 2 mile hike, uphill, through deep snow.
Today, there is so much information freely available that it is impossible to take it all in over the course of your lifetime. In fact, the amount of information is growing faster than it can be assimilated. 
When I answer questions I strive to include a link to further reading so the folks can delve deeper on their own. In a group of this size a tactic has developed: Find out who to ask...tag them in a post.

I'll have to step up my game and teach other people to follow suit.
The challenge, then, is to urge people to answer questions from all these new collectors, and include a link with that reply. Not only do the new people get answers to their questions, those who offer the answer become more able to teach self-reliance....Here's what you got, and here's a link to more information.

Ken's Guide to Coin Rarity

Common - I've heard of it or you have one
Scarce -I've seen it
Rare - I might be able to buy one
One of a Kind - I have one
Unique - I have one and its for sale


Update...Now on Video

You folks stay groovy!

Experience

I been doing this so long, I can taste a coin and tell you what grade it is.

This one is XF.

"Variety" vs "Error"

"Variety" and "Error" are different terms with different meanings. An ERROR is an event during the minting process. The coin produced will be unique, although similar coins can be produced by a similar event. Example: an off center coin, 1943 copper cent, brockage A Die Variety is the result of a change or difference in the die. ALL coins produced by that die will exhibit the same feature. Because the die is in heavy use, some modest changes will appear over time. Example: Doubled Die, Repunched Mintmark, cud A Design Variety is the result in a change in the design. ALL coins produced by a die with a design change will exhibit the same feature. Example: 2000 Wide AM Cent. It is possible for any die to produce an error. The result would be a coin that is an error AND variety. Example: Off center 2000 Wide Am The terms used can get rather technical but reference significant differences in what is going on. I see "cud" being often employed incorrectly when "die chip" would be appropriate. It can be a subtle misuse of term, but if you want to kick up your game to the next level, learn the terms.

Finding a 1969-S Doubled Die 1C

The following was sent in by Megan Green and is published here as a Guest Blog article.  Mrs Green recently discovered a 1969-S Doubled Die Obverse, FS-101.  This is her story...   

Hello,

    My name is Megan Green.  I am 27 years old, married and have two beautiful children. My son is 4 years old and my daughter is 3. I started coin searching almost two years ago. When my son was born, he was diagnosed with a very rare heart defect called Diverticulum of the Left Ventricle which required me to stay at home with him to attend his medical needs and care. I’ve always been a hard worker as I’ve worked since I 

was 11 years old so it was quite difficult to make the transition but little did I know I was going to be doing more work than I ever have in my entire life. With all the work it takes to raise a medically inclined child, I still needed something to keep my mind stimulated to feel I was doing something productive. I needed a hobby to keep myself entertained during my mommy time.

   When it was time to have some mommy alone time, I’d get on YouTube and watch different videos such as photography, music, education and news. I one day came across a news reporting video about the 1970 Washington Quarter that had been stamped with a Canadian Quarter and was sold for $35,000. I was dumbfounded as to how someone would pay that much for a quarter. A thought came to my mind about trying out this new hobby and I felt if I could help out financially for my family and enjoy doing it at the same time, it’s a win-win situation. I sat there almost two hours scrolling through different coin videos which soon had me hooked!

    When my son was first born we lived in Texas. There is a golf course there called Northcliffe Golf Club. My husband and I had worked there for a few years just before I had my son. The owner, being the full hearted thoughtful person that he is, put together a golf tournament/ banquet to help raise money for my son's medical expenses. He also had a donation jug for my son which was filled with coins and it was also given to us after the tournament. I had no idea about the coin world yet, so like anyone who wouldn’t, I kept those coins in a big tin bucket and put them up. My husband and I continued to throw our change in anytime we had change with the intentions to fill it to the top before we cashed it in. After I had watched those YouTube videos I remembered we had that tin full of coins and super excited to go through them to invest what little I had learned in that short time span. That is how it all started.

I first separated them into piles of denominations. As I went through the piles, I’d listen to YouTube videos on different coin varieties. That’s when I really started to follow Coin Opp. Dustin Morgan is a very genuine person and his enthusiasm kept me excited. He has so much knowledge about coins and explains everything so well. Every time I’d hear of a new error I’d go through the same piles I had separated over and over and put them to the side. There was no stopping me at that point. I was so pleased to finish that tin of coins! I then learned about picking up coin rolls from the bank and I obsessed about finding any MS coins or error coins. Soon I became overwhelmed trying to search all denominations at once so I decided to stick with pennies for the time being.

    While coin searching, I would collect all wheat cents even though some may not have errors I still find them to be unique, all 1959’s thru 1973’s for different die varieties and doubling, any 1982 D small Dates for 3.1 grams in weight, 1983’s 1989’s and 1990’s also transitional pennies accidentally produced during those years, 1984’s for doubling on Lincoln’s ear, 1988’s produced with the wrong FG, all 1992’s to search for close AM, 1994’s and 1995’s for doubling, 1998 1999 and 2000’s for the wide AM and doubling, and last but not least the 2009’s for doubling. I have only incorporated about 4 Indian head pennies in my time of searching and of course, a lot of Canadian cents.

    In July, I slowed down my coin searching because I wasn’t having much luck finding good coins and felt defeated. I gradually started back mid October picking up a box twice a week. It was good to get back into the coin zone as I had missed everything about it! The break, I think, was needed and gave me the excitement back. After three weeks I was up to 3-5 boxes per week. I bank with Chase bank and try not to exhaust one bank at a time so I bounce from one branch to another. There is a bank teller whose name is Brett and he is always so helpful getting me coins. I picked up 3 boxes from him on Nov 28th. When I collect more than one box I tend to open all of them at once. While searching I’ll keep in mind which box came from which bank in hopes that if I find good coins they’ll have more when I go to pick up more. Especially when they give me the customer rolled pennies. In this case, having them all from the same bank, I still skipped around because I wanted to know if there was really any difference in the boxes. I always question how they are rerolled when the bank sends them into the reserve.

   That night I had gone through my first box with only finding a small amount of errors. I was about 3/4’s through the second box when I found the1969s DDO! I honestly never thought I’d every really find one but I am always very excited to find a 1969s while searching and will immediately grab my microscope to check for any doubling. I have found about 45 1969’s without doubling and had a few I felt were in question but when I saw this one I knew it was the famous one that everyone talks about. There’s no mistaking it and the ones I had in question weren’t anything to compare! I actually thought I had some lent or something on my contacts at first. It was late at night and I kept rubbing my eyes to make sure this was really what I was seeing! I used my USB LCD digital microscope (Celestron) with a screen at the top to see the image view and there it sat, more beautiful than anything I had ever seen before! I kept laughing in disbelief while saying out, “Are you kidding me?!?!” I jumped up and ran my coin and microscope into the bedroom where my husband and the kids were sleeping. The light from the microscope lit up the room which woke everyone up but I was too excited to care. I shoved the microscope with the coin in husband’s face and said, “BABE, I FINALLY FOUND IT!!!” As he’s reviewing the screen he looks up at me and says, “What is it?” I didn’t realized I had it zoomed in on the letter D in the word GOD. I zoomed it out and he just smiled real big and replied, “What are you going to do next?” I started to say, “Probably cry..” as I was actually starting to cry with excitement. My enthusiasm was through the roof!

    I tried to call my mom first because she gets excited about my coins and is always giving me change to go threw. She was asleep of course so I left her a message that she probably couldn’t understand from my crying and hype about this coin. I then texted my Papa who has been a very proud supporter of my coin searching and sent him photos of my find. He was elated for me! The next day I did some research to verify that this was the real deal and everything I could find appeared to be. I reached out to Dustin with Coin Opp to get a confirmation and he responded with as much enthusiasm as I have had. His words were, “Well a huge congratulations. You have hit the jackpot of Lincoln cents!” I of course cried again because I knew that if he was telling me this, then it was confirmed to be the true rare 1969’s Doubled Die.

Thank you,
Megan Green 

---
Further Reading

• Closeup photo of the coin is available on the PCGS website.
• Coin World article regarding this piece.

Guest Blogging

Looking around the web, there are not many coin blogs.  I have a few listed in the Directory, but they do not include pseudoblogs hosted by several large coin and coin-related-product companies.  I'm talking about regular people, doing their thing, writing stuff about coins.

You'll read in this blog and hear me talk about the hobby being a journey of personal development (see Axiom #7).  I'd like to explore offering the opportunity for people to do some writing.  This would be in the form of a Guest Blog: Pick a topic, write an article, add links and photos, send it to my email and I'll give it a look.
If it's good enough, I'll add it to this blog, listing you as the author.  It's your work, you get full credit.

This will be your own original work.  Articles, writing, or images published elsewhere will not be considered.  The only other limit is that the subject should be related to coins, coin collecting, or perhaps include the word "coin".  After that, you are on your own. I suggest you offer insight.  Get deep down into the subject, explore aspects other people have not.  Grab their attention.  Give the reader something to think about.

Perhaps the idea of starting a blog is seen as being a big step for you right now.  There are few places to submit examples of your writing to get practice or to get noticed.  There's a lot of work involved in maintaining a blog.  As a Guest Blogger, you can work at your own pace, try out this writing thing, see if it grows on you.  When you are ready, starting your own blog will be much easier.

The BIG Show Email Ladder

Axiom #7 states that coin collecting is a journey of personal development.  To best explain the email ladder, I think it best to take you on my journey these last few years.  Bear with me, there are some disconnected parts to the story but they all come together later.

I've mentioned in some livestreams that I conduct most of my business over email.  It's a substantial

percentage of my volume and the reason why I must protect my paypal account and not accept Friends and Family payments.   I've been doing this for years, have developed long term relations with several knowledgable and dependable collectors, several of whom I have watched develop from casual collector to serious investor.  As you know (or will find out eventually), coin collecting is a lifetime hobby.  Part of it is forming those relationships that last for years.  Earlier this month I lost one of my coin buddies.  He had been buying from me for nearly 20 years.  One of his goals was to build a complete set of Lincoln Cents for his grandson's high school graduation, which we barely completed in time.  I understand the grandson is finishing his junior year at the University of Florida.  Ave et wale.

After closing the diner I focused my attention on my coin enterprise.  I have done some piece work for an industrial contractor from time to time.  I worked there full time for a couple decades but the years have caught up with me.  Climbing through manways and crawling through pipes to inspect vessels is proving to be too much for my worn out back and knees.  For the past two years I have relied more and more on my coin enterprise as my primary source of income and it's working out well.  The loss of Mr Parker will slow things down but I'm sure I can recover.  Perhaps his grandson will find motivation from his set of Lincolns to continue the hobby.

In addition to this blog, I produce coin videos.  Early last fall I started broadcasting livesteam shows.  You'll find Coin Class is quite popular, seen most Saturdays at 3 PM Eastern time.  I pick a subject and explore it in depth, explaining it as best I can in order that coin collectors can gain a better understanding of the hobby.  Friday Night Madness is a live coin sale in which viewers can interact in chat and ask question about the items being offered.  My favorite is The BIG Show: a viewer supported giveaway that puts old, rare, valueable, and collectible coins in the hands of people who will appreciate them and become better collectors as a result.

The BIG Show started as a raffle.  Donations to the show would earn the person more chances to win the whole lot.  This did not last as it was completely illegal (a First Class Misdemeanor in Florida) and a violation of youtube policies.  The remedy was to separate the donations from the reward.  Now, anyone can win but since there is no direct incentive for the supporters, the donations (and hence the size of the prize) have experienced more shrinkage than George Castanza in the cold Atlantic.  I've been looking for a means of rewarding those people who make the show possible.
Wednesday Wheats is another BIG Show, but with wheat cents as the dominant coin in the prize.  This show has also been suffering from a lack of incentive for the supporters.  Contributions have fallen so low than continuing the show has come into question.
There is more that I want to do with this coin hobby of mine.  With all the shows my time has been in great demand.  I need to free some up for other pursuits.  Changes need to be made lest I stagnate.

Here's whats going on...
I've made some contacts over the years.  From time to time I come across some pretty good deals.  In particular, there are a couple of new opportunities that have come to my attention as my business volume has grown.  I'm at a point where I can take advantage of these.  What's more, I think I can bring together several parts to make a greater whole.

First, I need to rearrange my schedule amd find time.
Wednesday Wheats has to be put on the back burner for now, possible from now on.  It's a lot of work to produce the show and I have no gain for the effort.
Friday Night Madness is hit or miss.  If I could free up those two blocks of time, I release the entire week. Coin Class works well on Saturday Afternoons but 24 hours before the next show sometimes is not enough.  It was Friday night, Saturday afternoon, Sunday afternoon.  Three shows in 42 hours?  Effective immediately The BIG Show will be moved to Sunday evening at 9:30.  I'll be able to go to my brother's house for Sunday Dinner.

Next, bring the incentive back to supporters of The BIG Show
I can't change youtube policy or Florida statue, but I can offer a perk to those who support the show.  Those pretty good deals?...I can offer them to the people who support the show.   Using those new opportunities to which I alluded, I'm sure I can come up with more of those offers.

Go with what works
I've been using email to offer coins to a few select people.  What I should have been doing is expanding that system.  If the stick ain't broke, don't fix it, and if there is one stick that has proven to work well for me, that's it.  I've been selling coins on facebook...the stuff my power buyers did not need or want.  Facebook has outlawed coin sales.  It is becoming increasingly problematic.  MeWe has been set up as a back up plan but until facebook shuts down the whole show people will resist making the change to a new platform.  Email is personal.  Its tough to form a personal or professional relationship with 8000 people.

The system I've develop over the years is pretty simple:  I offer the best stuff to the people who spend the most and work my way down.  It's a ladder.
Seems to make good sense to me to include people who support The BIG Show in this ladder.  From my point of view I have to add a single column on a spreadsheet and it only takes a moment to keep it up to date.  I can get more stuff to offer more people, thats no problem at all, and I can offer it at pretty reasonable prices, especially if there are a bunch of people involved.  It won't be instant.  It will take some time to put all the pieces together and make the changes in my setup behind the scenes, but with the extra time freed up it should be a piece of cake.  I've already started to order more shipping and printing supplies

Here's the plan:

• To Qualify to get on the list you have to donate to The BIG Show at least once, or several times to reach a total of $50 or more.  
• To Be Added to the list and get offers from me by email, you have to ask: kpeavey@live.com  I'm not going to send out email offers to people who don't ask because that's called spam.  Spam drives people away and it's not a good way to treat people anyway.
• If you want to get of the email list, all you have to do is reply to the email with UNSUBSCRIBE in the subject line.
• When I send out an offer, you have 24 hours to respond.  Take all, some or none.  If you wait, the offer goes to the next on the list and they have dibs for 24 hours.  You might still be able to get it.  If not, I'm sure to have something in a few days.  
• If you know you won't be buying for a while, you can help me out by replying to the email with TAKE A BREAK.  This keeps you in the list but I can move on to the next person immediately.  When you are ready, just let me know.
• To move up the ladder, keep supporting the show.  It's a simple matter to add a donation to the existing total in your column.  Those on the bottom may not receive as many offers as those at the top.  The best stuff goes fast.  
• Coins submitted to be included in the show will count towards ladder rank at their retail value.
• Purchases will also count towards ladder rank.   
• There won't be 1000s of people on this ladder.  I'm just one man.  As the list grows I may or may not be able to extend offers to everyone.  It may be I will need to bring in help, but that bridge will be crossed when reached.

The ladder is not a popularity contest.  I wont be fielding questions in regards to a persons ranking.  If you dont think you are getting enough offers or the offers are not so great, support the show more so you move up.  It may simply be that I have reached my limit of ability.

Terms Of Sale
Same as they've always been
-Payment due within 30 days of first item on the invoice.  The purpose here is to let you build a large order to save on shipping.  You can always pay earlier.  At $100 or more it would help me out if you went ahead and paid.
-Paypal is the prefered method.  I'll send you an invoice.  Pay the invoice.  This gets you buyer protection and I get seller protection.
-14 day return window gives you plenty of time to think about it.  You are responsible for shipping costs.

Should I Get This Coin Graded?

This is a question I get asked repeatedly by new collectors who don't fully understand the coin market:  "Should I get this coin graded?"

The short answer is a resounding NO.

The long answer takes a more detailed explanation.  See my Coin Class video from several months back, embedded here for your amusement.

Plenty of folks will tell you to get it graded.  This may not be practical advice and is often given from an uninformed position.  Ultimately, you must make that decision on your own.  If you are unable to answer that question on your own, then you have not done the research required to make an informed decision.  If you have not done the research, you would probably be throwing your money out the window.

Let's say I can sell my house right now for $100,000.
If I were to renovate the kitchen, I could sell my house for $120,000.  BUT, if it costs more than $20,000 to renovate the kitchen, I end up with less than I started with.  If I do all the work myself, maybe I could do it cheaper, but how much would I have to save to make it worth the effort?
There is Opportunity Cost involved:  What if I invested that money in something else I could sell for more than I would make fixing up the kitchen?

The Susan B Anthony Dollar pictured below is a more practical example.  In MS65 condition, Numismedia suggests a fair market value of about $10.
NGC charges $16 to slab a Susan B Anthony Dollar, plus shipping and insurance.  This does not include the minimum $69 fee to become a member, whatever that means.
Fact of the matter is, if the member who had this coin slabbed had instead spent the dollar on junk food, it would have made a better investment.  If it had been thrown into a muddy bottom pond, the owner would have been better off.

Let's put math to work so you can see what I'm talking about:

• Expected market value of a coin, without certification = A
• Cost of certification, membership, shipping, insurance = B
• Expected market value of a coin, with certification = C
• C - (A + B) = D

If D is less than zero then you lose.
If D = zero, then you made no gain for your efforts.  B would have been better spent elsewhere.

Money Down The Drain

If D is greater than zero, then by how much?  Was it worth the time and effort?

You have to do the research required to estimate the expected market value of the coin.  This requires the skills to accurately grade the coin as well as some experience with the coin market.  Really, if you are not going to sell the coin, why have it slabbed in the first place?  

Since grading accuracy is required to determine value, you should already have a close estimate of the grade of the coin.  Only then would you be able to estimate the value of the slabbed coin.  If you are that skilled, why would you need a Third Party Grader?

Go back to the early 80s.  Back then it was not possible to send electronic photos around the world.  It was an expensive proposition to photograph a coin and send out catalogs to potential buyers.  TPGs came into being to facilitate Sight Unseen trading.  Fast forward to the present day.  A $20 digital camera can take professional quality photos.  The internet can send those photos to every point on the globe in seconds.  The need for sight unseen trading is gone.

I also want to dispel the notion that certification adds value.  The old adage is as pertinent now as ever:  Buy the coin, not the holder.  Some of these TPGs offer a guarantee that the coin is genuine and accurately graded.  That guarantee does add a slight value to the purchase, but the added value is a small percentage of the value of the coin.  Realistically the coin needs to be valued at a couple hundred bucks at least to make the investment worthwhile, and even then you would probably only get the benefit of the membership if you have a large number of coins certified.

The Barry Specimen

The Barry Specimen
The 1914-D Lincoln Cent pictured here was found by B Barry of Florida in, of all place, a coinstar reject tray.  Photos were posted on a social networking site and folks commented on the coin.  Some offered grades ranging from F to AU.  A few expressed interest in purchasing the coin if it was authenticated.  Several proclaimed the coin be graded ASAP!

Mr Barry sent the coin to NGC for certification through a dealer.  The cost with shipping, insurance, and the dealer's fee was around $80.

The coin went to auction on eBay, where I acquired the coin.  I was not surprised that NOT ONE of those folks who said to get it graded placed a bid on the coin.  It's easy to spend someone else's money.

The coin came back with a Details rating.  With the rating, there is no guarantee as would be offered on a straight graded coin.  For $80, all the seller got was a really nice holder.

When is it a good idea?
There are instances when it makes sense to submit a coin for grading and certification.  The first requirement is the expected market value of the certified coin exceeds the expected market value of the raw coin.  Other reasons include, but are not limited to

• The coin is Rare.
• The coin is Valuable
• The coin is Unimpaired
• The coin is of Superior Grade
• Certification will allow the coin to be sold in a major auction
• The coin will be included in a Registry Set

Recently an example of a 1969-S DDO-001 was found in circulation.  The coin was sent for certification and will likely proceed to Heritage Auctions where it will easily fetch several thousand dollars.  Prior to sending it for certification it was examined by my friend Dustin Morgan.  It was on his recommendation that the coin was submitted.

Have It Inspected First

Before bearing the cost of slabbing a coin, do your homework.  Solicit opinions in the various social networks.  See if there is substantial and credible interest in the coin.  You may choose to submit the coin for inspection.   Nothing beats putting the coin into the hands of someone who can take an impartial look at your coin and offer an informed opinion.  I have inspected several hundred coins and saved the owners thousands of dollars of certification fees that would have been for naught.

Previously I would include my written inspection report with the coins.  I have begun producing video of the inspection report to better convey my findings.

A Practical Example

A reader sent an email with photos of a coin.

Hey Ken

     Is this worth sending to get graded.  Sorry about pics.....not the greatest

I took a look at his photos but was unable to determine if it was a 1971 DDO, as he suspected.
The reply I sent sounds a lot like the above article.

By asking the question I can tell that the answer must be No.

If you have to ask, it means you dont know.
If you dont know, then you are not doing your homework (determining grade, value, investigating the cost of slabbing).
If you are no doing your homework, having a coin certified would probably be a waste of your money as you are not likely to have done the homework required to sell the coin.

Key data:
Whats the grade?
Whats the anomaly, if one exists?
In its raw state, what is the projected, realistic market value?  Call this X

What is the cost of certification?  Call this Y
In a certified state, what is the realistic market value?  Call this Z

If Z-X is less than Y, then certification is an expense that is not recovered - you lose money.
If Z-X = Y, then you break even, and it took seve, but your ral weeks, no gain for the time and investment.
If Z-X is greater than Y, is the difference worth the time and investment or is it too small to bother with?

From the photos provided I can't offer much enlightenment.
I can not determine if it a Doubled Die.
If it was, the resolution and view selection would make it difficult to determine which one (there are several known 1971 DDO)
Let's say it is 1971 DDO-001.  The general shape of the letters in Liberty suggest it is a possibility.
Variety Vista assigns a value of $100 in MS62.  Coppercoins lists $105 for XF.
Based on these photos, your appears to in the XF-AU range.

If you used PCGS to slab the coin the fee is $16 for modern coins, plus $18 for a variety attribution, plus the $69 membership fee, plus shipping/insurance both ways. 
Y = at least $34 + shipping if you are already a member.

So far, X is maybe $100, if you are an experienced seller and have a clientele in place.  From this will be deducted auction site fees, paypal fees, and income taxes.

Understand, there is rarely much difference between Z and X.  It's the same coin regardless of the holder its in.
If you have a buyer, that buyer will either be interested in die varieties or not.  If they are, they would be able to determine the attribution on their own, without the certification.
Grade can be estimated quite closely using Photograde. 

Now that you have all this presented pragmatically, you should be able to answer the question for yourself:
Is this worth sending to get graded?
For all the cost, time, and effort, I always look at what else that money, time, and effort could be focused on.
In your case, I think a better investment of the $34 + shipping would be in a suitable camera so you can show detailed photos of the coin to prospective buyers.


KP