April 24, 2016

Rare Coins have Great Stories; MS70 Eagles with Doubled Beaks Do Not.

This necromancer collector has been troubled lately.
   I have always considered rare coins as the ones with great stories. Being unique is not enough. The coin has to have something to say. After all, all coins are unique in one way or another. It is the contagion of meaning that makes a coin desirable.
   Consider the heritage of the necromancer for a moment. In medieval times, the necromancer was a cunning man or wizard who could glean information from those who had passed. Why do this? Well, those who came before us had wisdom gleaned from a life of full of experiences. Plus, they knew the past; they were there.
   Of course, in medieval times, a body part -- a skull perhaps, or some other bone if that is all that could be had -- was enough to get things started. A really good necromancer could make do with a molar!
   The coin collecting necromancer just needs an old coin. No bones.
   But the coin needs to have been passed amongst the living. It needs to have been part of the action. It needs a storyline -- that is, enough drama and mystery so as to be animated with past lives.
   Relics are an obvious choice. Each is unique and steeped in mystery. Each was used and lost. Relic coins come to us directly from the past. As such, relics are perfect: they cannot be graded on a 1 to 70 scale.
   But relic-ness is not everything.
Here is a coin the necromancer can wear to provide
protection from the heretics that clamor for MS70 eagles
with doubled beaks and bent feathers!
   A 1909-S VDB has a great story, even if in high grade. So too, a mint state half-eagle from 1822 has a great story of survival at the hands of a few savvy collectors. Or, how about a rare die variety that tells the story of what was happening inside the mint. Similarly, an unusual mint error can be alluring. All of these rare coins -- some of which might not squarely fit the bill for the necromancer -- are desirable -- and storied.
   I like die varieties from the early mint; and particularly, I like late die-state coins where the cracks and cuds reveal a die coming apart with use. Such coins speak to the economy of the times. They also capture a moment in time when a decision was made to keep the screw press going.
 
   So why am I troubled?
   I see so many collectors chasing after modern coins in ultra-high grade (MS-70) in an effort to have something rare and desirable. But I ask, what is the storyline?
   Part of me just wants to shrug, sigh, and move on. After all, if these collectors are having fun, so be it. Let them chase after MS-70 silver and gold eagles. For the necromancer that means they will not be competing for the real stuff that is linked to past lives and actions.
   Of course, I am missing the art part. An MS-70 coin represents ultimate beauty and perfection. Okay, I get it.
   But recently, I read an editorial wherein a collector was suggesting that the mint produce "rare" varieties to be randomly distributed to mint buyers. Maybe they could add an extra feather here or there on a few hundred coins. Or better yet, add a doubled beak! Now that I am pondering this, I think a doubled beak would be more exciting than an extra feather (unless it was a really big feather, or a bent one) -- what do you think?
   Yes, I am troubled. But, I have seen heresy before -- it comes and goes. After all, in medieval times, necromancers were often charged with heresy. I am used to it.
   If you think a doubled beak will be fun
, I say: "Go for it!" And, you can make up a story!

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