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Subject: Re: WINS: Breen book
Date: Mon, 29 Mar 2004 00:58:41
When I studied landscape photography, I came across a "Zen quote" that said:
The novice sees mountains as mountains and rivers as rivers. As he beings
to study more, he begins to *know* that mountains are *more* than mountains
and rivers *more* than rivers. Should he finally reach enlightenment, he
will once again understand that mountains are just mountains and river are
simply rivers.
Except for the dealers among us, and those who may have entered numismatics
first from the investment standpoint (both of which are fine--I'm not
arguing in any way against the coin market in general), how many here became
attracted to coins for the subtle distinctions in hairlines? Or the
counting of contact marks? Probably few. We wondered about the people who
held the coin, the society in which they lived, the technology extant at the
time used to produce the coin, perhaps peculiar variations between coin and
coin, the aesthetics of the objects themselves, the purchasing power now and
in their day, their role in mankind's economic development, how the wise use
of money has benefited civilization and poor choices set it back. Maybe we
were attracted by mention in some religious work. Fill in you own
answer(s). They're yours.
We saw mountains as mountains and rivers as rivers. And, coins were coins.
Then, we attended shows, met other collectors, read publications and
population reports, bought grading books, argued grading, the whole works.
((((One thing that's constant---we see the grading standards as used in the
market bounce around like Tigger (indulge me, I have 3-yo and we have a lot
of this stuff on the tube...I'm still trying to find time to watch "Sniper
II", which I bought myself as a Christmas present, trying hard to keep in
the spirit of the season ). I cracked Eric Newman up once by referring to
PCGS as "Perpetually Changing Grading Standards" (note, this is another
reason to go to the ANA Summer Conference---you'll get to legitimately drop
numismatic luminaries' names).))))
Somehow, mountains were different, if not *more* than mountains and the
rivers were certainly not the ones that carried us to the avocation. And,
how dare anyone suggest that these precious things in our hands were *just*
coins????!!!!! Why this is condition census and has seventeen steps---you
can even see the bird-poop on one!!!!! Shucks, you can even *smell* it!!
If you have the right coins, one day, those "little metal disks", as Ralph
calls them, may begin, in the quiet hours of a late night or early morning,
once again, to try and tell their stories. May we have the wisdom to
listen.
I like "nice" coins as much as anyone, and try to get the most attractive
example of a desired coin that I can afford (and, unfortunately, often a
level or two *above* what I can afford ). But, many times, I think of the
wear on a coin as a footprint from the lives and events it has touched,
telling a far more dramatic story than the somewhat sterile life of a MS98.
Certainly, we need a modicum of knowledge simply to participate in the
market without (large) costly errors. We try and understand subtle aspects
of differences in quality that become more apparent with experienced eyes.
But I've found that virtually every time I've had any real grade
"aspirations", the biggest thing on my mind was money, mostly the hope for
gains. Absolutely nothing wrong with this. But it isn't why I became
interested in the first place. I'm like a farmer speculating with wheat or
pork bellies on the futures exchange, trying and use my knowledge and
experience to make a profit now or down the road.
Is it a crackout candidate? Is the grading standard likely to change
favorably in the future? What's the risk and reward of going to a higher
grade when I decide to sell? Is the market hot for high-grade examples of
this coin? Am I broke, or do I have the bucks? Should I be committed for
even *thinking* about spending $541 for a lousy quarter?
Like we say in photography--some of it you do for a living, some of it you
do for a loving.
I find the longer I collect, the more I like the loving. And the mountains.
And the rivers.
Tom Campbell
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