Marshall Mash

[marshall]

My other hobby is collecting Early Date Large Cents.

I have recently found a very rare variety whiie looking through Auction House Archives. It had been misattributed at least 6 times by fellow collectors including several experts in the field. I followed up by contacting the Auction House to request they notify the new owner of his good fortune.

The cataloger, with the owner's blessing, confirmed my attribution and is writing an article in Penny-Wise, which is the magazine published by the EAC (Early American Coppers), the acknowledged leaders in the community of collectors and sellers of Early American Copper specialists.

To give you an idea of how rare, It was misattributed as a variety S-16 with only 17 known examples and I identified it as 1793 NC-6 (NC stands for non-collectable) and this is only the third known specimen.

I have been on cloud 9 for the last few days because I have now contributed something to the hobby which has occupied the vast majority of my life.

[Deleted]

Mar 10, 2019 19:00:20 GMT -6 marshall said:

My other hobby is collecting Early Date Large Cents.

I have recently found a very rare variety whiie looking through Auction House Archives. It had been misattributed at least 6 times by fellow collectors including several experts in the field. I followed up by contacting the Auction House to request they notify the new owner of his good fortune.

The cataloger, with the owner's blessing, confirmed my attribution and is writing an article in Penny-Wise, which is the magazine published by the EAC (Early American Coppers), the acknowledged leaders in the community of collectors and sellers of Early American Copper specialists.

To give you an idea of how rare, It was misattributed as a variety S-16 with only 17 known examples and I identified it as 1793 NC-6 (NC stands for non-collectable) and this is only the third known specimen.

I have been on cloud 9 for the last few days because I have now contributed something to the hobby which has occupied the vast majority of my life.

When this fortunate collector realizes his luck, and sells for $100K , let us know if he gives you a commission. 

"Penny-Wise, which is the magazine published by the EAC (Early American Coppers)"

Dying to see the Centerfold on that one.  

[Saint]

When I see Penny-Wise I only think of It from Stephen King. I don't think he collected coins though...

[ɮօʀȶǟʐ]

To give you an idea of how rare, It was misattributed as a variety S-16 with only 17 known examples and I identified it as 1793 NC-6 (NC stands for non-collectable) and this is only the third known specimen.

What makes it non-collectable?

I have a coin collection, a relic from my childhood...most found in change or with a metal detector around my little town.

[marshall]

Mar 11, 2019 12:57:28 GMT -6 ɮօʀȶǟʐ said:

To give you an idea of how rare, It was misattributed as a variety S-16 with only 17 known examples and I identified it as 1793 NC-6 (NC stands for non-collectable) and this is only the third known specimen.

What makes it non-collectable?

I have a coin collection, a relic from my childhood...most found in change or with a metal detector around my little town.

NC for Non-collectable was a term "coined" by William Sheldon in his book, Early American Cents (1948) and continued in his better known book, "Penny Whimsy." (1958; reprinted 1976) It was used for varieties with three or less known and available for collectors. These would simply be too rare for any collector to hope to acquire in their lifetime and was therefore excluded from his list of the Collectable Varieties.

To this day, collectors will only strive to complete a set of the Collectable Varieties, even though some NC varieties have a sufficiently large number of specimens to be collectable.

[Deleted]

Mar 11, 2019 14:45:09 GMT -6 marshall said:

Mar 11, 2019 12:57:28 GMT -6 ɮօʀȶǟʐ said:

What makes it non-collectable?

I have a coin collection, a relic from my childhood...most found in change or with a metal detector around my little town.

NC for Non-collectable was a term "coined" by William Sheldon in his book, Early American Cents (1948) and continued in his better known book, "Penny Whimsy." (1958; reprinted 1976) It was used for varieties with three or less known and available for collectors. These would simply be too rare for any collector to hope to acquire in their lifetime and was therefore excluded from his list of the Collectable Varieties.

To this day, collectors will only strive to complete a set of the Collectable Varieties, even though some NC varieties have a sufficiently large number of specimens to be collectable.

I was an avid coin collector as a child.  My numismatic tendencies waned greatly when as an adult I found out how bad an investment they are.  At least there aren't as bad as a bust as the baseball cards were in the '90's.  If you treat it as a hobby, it is fine, but folks, there are many other things better to make money on.  

Here is an '01 article that kind of puts into perpsective.  Intent of it rings true today though.

link

[marshall]

Mar 11, 2019 15:02:12 GMT -6 @txheat10k said:

Mar 11, 2019 14:45:09 GMT -6 marshall said:

NC for Non-collectable was a term "coined" by William Sheldon in his book, Early American Cents (1948) and continued in his better known book, "Penny Whimsy." (1958; reprinted 1976) It was used for varieties with three or less known and available for collectors. These would simply be too rare for any collector to hope to acquire in their lifetime and was therefore excluded from his list of the Collectable Varieties.

To this day, collectors will only strive to complete a set of the Collectable Varieties, even though some NC varieties have a sufficiently large number of specimens to be collectable.

I was an avid coin collector as a child.  My numismatic tendencies waned greatly when as an adult I found out how bad an investment they are.  At least there aren't as bad as a bust as the baseball cards were in the '90's.  If you treat it as a hobby, it is fine, but folks, there are many other things better to make money on.  

Here is an '01 article that kind of puts into perpsective.  Intent of it rings true today though.

link

You won't get any disagreement from me. Unless you can get ahead of a trend, you'll be lucky to keep up with inflation. I settled in on cherry picking rare varieties which is essentially a knowledge based advantage. Currently I'm doing it with a general downward trend in the market for early date cent collectors. As a group, we are aging and the kid's inheriting these collection are often not interested in the collections. Thus, supply is increasing as demand falls.

While I have a lot "invested" in my collection, it is really a misnomer. I have "spent" a good deal on a hobby. The value simply doesn't decline as rapidly as a typical hobby like collecting beany babies. The ultimate supply is fixed by the production from the US mint. If I've done well, it might even outpace inflation. But it is not the reason I collect coins.

It is , as you say, a HOBBY!

[marshall]

Mar 11, 2019 12:13:56 GMT -6 @txheat10k said:

Mar 10, 2019 19:00:20 GMT -6 marshall said:

My other hobby is collecting Early Date Large Cents.

I have recently found a very rare variety whiie looking through Auction House Archives. It had been misattributed at least 6 times by fellow collectors including several experts in the field. I followed up by contacting the Auction House to request they notify the new owner of his good fortune.

The cataloger, with the owner's blessing, confirmed my attribution and is writing an article in Penny-Wise, which is the magazine published by the EAC (Early American Coppers), the acknowledged leaders in the community of collectors and sellers of Early American Copper specialists.

To give you an idea of how rare, It was misattributed as a variety S-16 with only 17 known examples and I identified it as 1793 NC-6 (NC stands for non-collectable) and this is only the third known specimen.

I have been on cloud 9 for the last few days because I have now contributed something to the hobby which has occupied the vast majority of my life.

When this fortunate collector realizes his luck, and sells for $100K , let us know if he gives you a commission. 

"Penny-Wise, which is the magazine published by the EAC (Early American Coppers)"

Dying to see the Centerfold on that one.  

I do not expect a commission. I am thrilled to have simply discovered the rarity. As far as value, the only other public sale of an attributed 1793 NC-6 took place in 2009 and brought $43,000 for a superior specimen. This coin sold last year for $8400 labeled as S-16 which was a bit above market for the grade. I would anticipate it to sell for $15,000 to $20,000 when offered properly attributed this September at the Long Beach Auction. While it sounds like a lot for a low grade example, the rarest coins of this type are a favorite of those who can afford to spend big bucks for rare varieties.

To mention a famous person from the sports world which you may not know was an avid collector, Pat Riley has or had put together a rather extensive collection. Whether early Date Large Cents were among them may not be known since famous collectors often use agents to keep their identities hidden. Coach Riley was just a bit more open about his hobby than some.

[bearbryant]

Mar 11, 2019 12:21:53 GMT -6 Saint said:

When I see Penny-Wise I only think of It from Stephen King. I don't think he collected coins though...

90s punk band from Hermosa Beach is the Pennywise I know

[marshall]

nnp.wustl.edu/library/publisherdetail/511683

This is the one I know about.

[marshall]

A New Subject.

I was doing my taxes for the first time in over a decade since my disability has been my sole source of income and I was not required to file. But having to dip into my retirement 401K started after I received a lump sum payout on my pension from my first professional job at HL&P, I must file this year.

I'm trying to figure out if I can file a 2017 tax return just to use my casualty loss from Harvey, roll it forward for this year, and reduce my 2018 tax liability. If appropriate, it could save me over $3000 much needed dollars.

It's one of those situations that I need to speak to a CPA specializing in tax law, but it would cost me more in fees than I would save on taxes. I think I'll just take my chances and do it anyway. There should be no late penalties to file since I wasn't required to file.

[Deleted]

Mar 21, 2019 18:55:28 GMT -6 marshall said:

A New Subject.

I was doing my taxes for the first time in over a decade since my disability has been my sole source of income and I was not required to file. But having to dip into my retirement 401K started after I received a lump sum payout on my pension from my first professional job at HL&P, I must file this year.

I'm trying to figure out if I can file a 2017 tax return just to use my casualty loss from Harvey, roll it forward for this year, and reduce my 2018 tax liability. If appropriate, it could save me over $3000 much needed dollars.

It's one of those situations that I need to speak to a CPA specializing in tax law, but it would cost me more in fees than I would save on taxes. I think I'll just take my chances and do it anyway. There should be no late penalties to file since I wasn't required to file.

(1) You realize that if you had rolled over your pension to another qualifying IRA you wouldn't have to be dealing with the income aspects  right?  Well at least unitl age 70 (RMD). IF I am reading your situation right.
(2) Not sure of your exact situation, but I beleive the IRS only limits a cumulative $3K captal loss per year.  That's $3K income as AGI, not $3K in taxes.  Taxes on $3K of  AGI in your proable tax bracket, probably isn't very much.

Again, I am not a CPA, so buyer beware.  Why don't you  just contact the IRS?.....    They are normally pretty decent with questions.

[marshall]

Mar 21, 2019 19:19:18 GMT -6 @txheat10k said:

Mar 21, 2019 18:55:28 GMT -6 marshall said:

A New Subject.

I was doing my taxes for the first time in over a decade since my disability has been my sole source of income and I was not required to file. But having to dip into my retirement 401K started after I received a lump sum payout on my pension from my first professional job at HL&P, I must file this year.

I'm trying to figure out if I can file a 2017 tax return just to use my casualty loss from Harvey, roll it forward for this year, and reduce my 2018 tax liability. If appropriate, it could save me over $3000 much needed dollars.

It's one of those situations that I need to speak to a CPA specializing in tax law, but it would cost me more in fees than I would save on taxes. I think I'll just take my chances and do it anyway. There should be no late penalties to file since I wasn't required to file.

(1) You realize that if you had rolled over your pension to another qualifying IRA you wouldn't have to be dealing with the income aspects  right?  Well at least unitl age 70 (RMD). IF I am reading your situation right.
(2) Not sure of your exact situation, but I beleive the IRS only limits a cumulative $3K captal loss per year.  That's $3K income as AGI, not $3K in taxes.  Taxes on $3K of  AGI in your proable tax bracket, probably isn't very much.

Again, I am not a CPA, so buyer beware.  Why don't you  just contact the IRS?.....    They are normally pretty decent with questions.

I would not have had to deal with taxes from my IRA if not for expenses caused by Harvey which required substantial withdrawals in 2018. I'm fairly certain a casualty loss from reduced property value (as indicated on my property appraisal) is treated differently from capitals gains/losses. But who knows with the changes to tax laws this year. That's why I need more expertise than it's worth. But $3,000 is a big deal to me, if not to CPA's.

[marshall]

I'm just in for the night. I received a call shortly after my last post notifying me my sister was found unconscious and unresponsive. I've been in Houston Greater Heights ER and IMU since then. I came back for the funeral of a friend who died suddenly and unexpectedly and will be going back tomorrow afternoon.

[ɮօʀȶǟʐ]

Take care, Marshall.

[paastrosfan]

Apr 15, 2019 18:31:32 GMT -6 marshall said:

I'm just in for the night. I received a call shortly after my last post notifying me my sister was found unconscious and unresponsive. I've been in Houston Greater Heights ER and IMU since then. I came back for the funeral of a friend who died suddenly and unexpectedly and will be going back tomorrow afternoon.

Sorry to hear the news Marshall. My deepest sympathy.

[marshall]

A quick update. My sister is now out of the Hospital and at a nursing (rehab) facility. Her mental facilities have returned completely and now she is trying to get back physically. I'm back at my PC for the day to do bills.

A good thing about the new facility is that I can pick up channel 39 for Astros games.

[sempersmom]

Apr 24, 2019 5:57:55 GMT -6 marshall said:

A quick update. My sister is now out of the Hospital and at a nursing (rehab) facility. Her mental facilities have returned completely and now she is trying to get back physically. I'm back at my PC for the day to do bills.

A good thing about the new facility is that I can pick up channel 39 for Astros games.

That's great news (about your sister).

[thomasj13]

Apr 24, 2019 5:57:55 GMT -6 marshall said:

A quick update. My sister is now out of the Hospital and at a nursing (rehab) facility. Her mental facilities have returned completely and now she is trying to get back physically. I'm back at my PC for the day to do bills.

A good thing about the new facility is that I can pick up channel 39 for Astros games.

That is awesome news!

[abregmanfan]

Apr 24, 2019 5:57:55 GMT -6 marshall said:

A quick update. My sister is now out of the Hospital and at a nursing (rehab) facility. Her mental facilities have returned completely and now she is trying to get back physically. I'm back at my PC for the day to do bills.

A good thing about the new facility is that I can pick up channel 39 for Astros games.

Great news about your sister. Both of you hang in there. Best wishes.

[marshall]

I'm now dealing with getting a long term guest out of my house so my sister can move back. She has decided to retire early rather than spend two or three years to max out her SS check.

It's funny how giving a womon and her teenage daughter a place to stay rent free for over two years is so quickly forgotten and now i'm evil for "tossing them into the streets."

But family is family and it has to be done.

[abregmanfan]

May 1, 2019 7:12:28 GMT -6 marshall said:

I'm now dealing with getting a long term guest out of my house so my sister can move back. She has decided to retire early rather than spend two or three years to max out her SS check.

It's funny how giving a womon and her teenage daughter a place to stay rent free for over two years is so quickly forgotten and now i'm evil for "tossing them into the streets."

But family is family and it has to be done.

Family first!

[abregmanfan]

Does anyone know of a decent hotel near Houston Methodist hospital? I am looking to put my parents up there for a few days.