Why I Prefer Slabs

((( 2. Keeping: Slabs are convenient )))

For me, slabs are a lot of thing, but convenient is NOT one of them! I own literally a couple thousand coins, and if they were all slabbed, I'd have to dedicate practically a whole office just to house them. I'd need a monster truck just to haul them around! No, convenient is when I can house ALL my Washington quarter collection, including all proofs from 1936 on, in a single book-sized album. There's simply no way slabs can compare in terms of "convenience".

I collect coins both slabbed and not. My preference is strongly for uncertified coins, but at the level I collect, which is mostly coins in the $10 - $100 range, the price of the plastic is just MUCH too high. In my opinion, few things in numismatics are more absurd than a coin worth $10 in a holder that costs $25.

It looks like no one from outside the USA has written anything in this thread so far. Looks like is topic is not of big importance elsewhere?

I live in the old world and have a relatively large collection of coins from all over the world with a specialized part of higher grade french coins. There's also one graded coin but I don't think there will be another one.

I understand that TPG graded US-coins get higher prices and offer some security concerning grade and genuineness, but always wondered why someone who manages to make a real looking fake shouldn't be able to go further and put it into a false slab with a false label?

I believe that's how many collectors from Europe feel. At least all who I have spoken with about this ;)

with the current vogue to resubmit slabbed coins there should even be no problem to get original labels

No matter how many years experience you have handling raw coins, mistakes can and do happen. There was a thread across the street a few months ago and someone wrote that they were holding a very expensive raw coin (I believe an ms 1797 Flowing hair, not sure) and watched in horror as it fell from his hand and hit the floor. Can you say rim damage?

((( I understand that TPG graded US-coins get higher prices and offer some security concerning grade and genuineness, but always wondered why someone who manages to make a real looking fake shouldn't be able to go further and put it into a false slab with a false label? )))

There are only four coins in the United States that are legitimate numismatic certification companies (NGC, PCGS, ANACS and ICG). Fortunately, all four are exceptional at rejecting fake coins. Although it is true that counterfeit coins have appeared in slabs by all four companies, it is an exceedingly small number of fakes that have successfully been slabbed.

There are extensive reference resources that differentiate fake coins from the genuine article, and ALL of these four companies have comprehensive libraries with these references in them.

From a practical standpoint, I assume that EVERY coin certified by one of these four (and ONLY these four!) companies is genuine. It's an extremely safe bet. Indeed, the security of the coin being authentic is by far the single most important contribution that certification has given to numismatics.

You raise an excellent point about released numbers, maudry - I have no idea of the numbers are forever retired when used once, or not. Definitely something I should check on.

Interesting topic. I would like to post my Two Cents worth, that only applies to me and no one else, hopefully no one will see occassion to take offense. There is much to agree with in the posts on this topic, all are valid points depending on one's perspective. I admit that I had to "skim read" most as it is quite lengthy.

I do not own any slabbed coins and do not forsee buying any. Personally, I like the challange of trying to become a consistent, honest, grader of the coins I collect...that appeals to me as part of the hobby. I think I have made some very good buys, along with a few mistakes that were learning experinces and not very expensive.

I like coins in Dansco type albums for ease of viewing, seeing that "hole" that needs to be filled. I don't get that from slabbed coins. If I bought a slabbed coin (which I probably never will) I would promptly remove it from the slab and put it in my album; hence the added cost is not worth it.

I can see using TPGs to authenticate a coin, or to establish accurate value and grade prior to sale so that one can honestly represent the coin and remove doubt from prospective buyers, especially if it is to be sold on a site such as ebay.

I agree with some who state the TPG is getting out of hand, there appears to be a lack of consistancy between companies, and when only the person grading the coin can establish the grade I loose faith in the system. I collect for the coin and if I am happy with the appearance, condition, and price according to my standards I will add it to my collection (or at times speculate and buy it for resale).

I guess the bottom line is that if I have to depend on a TPG service to differentiate between the grades of my coins I don't need them...I'll leave it to my heirs to decide about grading them for sale.

Just one last note, I started collecting long before TPGs came along, had to liquidate in the late 60's due to misfortune and only recently got back into it (6 months or so ago). I am astounded that many coins I used to have would have been out of sight in value according to current grading standards. I used to have a dealer who would set aside gem BU Morgans for me and I would buy only the cream of the cream of anything...Liberty nickel, St. G's, Indian head gold, Indian cents, 3 Cents Silver, etc..sure wish I had them back again in this market -then I would be in favor of grading if I had to liquidate again, but as long as I don't have to..I just want to enjoy the coins and collecting them.

again this is just my personal pref. and I fully support anyone's differing position...for themselves. basicbob

I have to agree with the original post on this. You really need to look at it from two perspectives.

1: (IF) I was an expert with 20+ years experience, and knew the ins and outs of most of the coin series.. I would probably prefer raw coins. I would want to make my OWN determination of a coin's grade, and I could actually hold the coin itself instead of a square lump of plastic.

2: For novice/intermediate collectors I think slabbed is the way to go- IF you are buying a high value coin. Of course, high value to me might not be high to someone else.

IMO very few people are qualified to know all the variables involved in grading. Which year/mint of individual coins tend to have strong/weak strikes and in which areas, all of the common counterfits and how to spot them, how to spot cleaning (which often is NOT obvious), how to spot very subtle variations/errors... and I'm sure there's other considerations that I can't think of.

It's true that the "experts" might disagree on grades, or be a little inconsistent. But grading is so complex and subjective I would expect that much. At least with a slabbed coin I know that someone who knows waaaay more than me objectively gave his/her honest opinion.

Edit: One more thing I forgot to add. If you ever want to sell the coin being in a slab increases it's salability. I think we can all agree on that.

Edit 2: Ok, last thing! IMO the TPG's have been good for the hobby. If they didn't exist can you imagine how many more altered/phoney/cleaned/etc. coins would be on the market?