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 Replies: 19 / Views: 3,594 |
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Bedrock of the Community
 United States
12477 Posts |
Womp, womp. Shoulda left it alone.
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
Australia
21788 Posts |
I don't think coin speculation is running rampant, but
we all must continuously be aware of sophisticated marketing techniques.
Slabbing is often used as a marketing tool.
Forget all of that; just consider any coin you may buy soley on its own merits. Slabbing may add a bit to the value with a widely accepted grading, by those who are unsure of their own skills in this area. Slabbing can also help a bit with authenticity, but it must be understood that Third Party Graders are not in the business of providing a definitive answer to authenticity.
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Pillar of the Community
United States
1211 Posts |
Interesting observation, but I fail to see the point you are trying to make?
So, someone bought a coin from one auction, had it re-slabbed, and is now selling it in another auction... And?
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Rest in Peace
United States
17900 Posts |
Good follow-up Mike. I've been sniffing around for a couple more SLD for year sets and its amazing how many get resold in a short time.
The unfortunate thing is that I found a 53 that I love but ask is $2000. The same coin sold in January for $1570. So I have a tough time with the price. Offered $1825, but no go.
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Pillar of the Community
United States
1695 Posts |
Great memory, and great sleuthing!
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Pillar of the Community
United States
987 Posts |
Quote:
Interesting observation, but I fail to see the point you are trying to make?
So, someone bought a coin from one auction, had it re-slabbed, and is now selling it in another auction... And? The speculation part is the "crack-out game". Someone buys a coin that they think is undergraded , crack it out, and re-submit with the hope of getting a higher grade to sell it for a lot more than they paid for it. |
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Pillar of the Community
United States
7626 Posts |
Sometimes speculators roll the dice and things don't quiet work out like they planned.
This is one of those times.
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Moderator
 United States
54282 Posts |
So, now it is in the PCGS database twice, skewing (slightly) population counts, etc.
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Moderator
United States
189222 Posts |
Quote:
Sometimes speculators roll the dice and things don't quiet work out like they planned.
This is one of those times.  |
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Pillar of the Community
United States
4469 Posts |
I am surprised that the coin was cracked out and resubmitted as it appears to be graded correctly at AU55. The coin does not work for me as I do not care for the toning halo around all the details.
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Pillar of the Community
United States
824 Posts |
Quote:
So, now it is in the PCGS database twice, skewing (slightly) population counts, etc. I have been wondering about this for a little while and wonder how accurate the TPG's databases are? Here is an example: The 1859 S Seated Liberty half dollar had a mintage of 566,000 and according to one TPG, has an estimate survival of 150 coins in all grades. When you count all of the graded coins from THAT TPG, they have almost 200 coins. If you combine that with another top TPG then there is almost 275 graded 1859 S coins? |
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Bedrock of the Community
United States
12057 Posts |
TPG populations and survival estimates are meaningless. They exist entirely to justify demanding absurd premiums for "top pop" coins and hyper-inflated TPG price guide values that heavily overvalue coins in all grades. The very few exceptions are for historic rarities of which the population is so low that it can be accurately stated as to a survival rate, e.g. the 1804 dollar and 1913 V nickel. There is one thing they ARE useful for, and that's determining the condition scarcity curve for a given coin. This has allowed numismatists to back up long-held "wisdom" with actual numbers and raised the importance of condition scarcities relative to mintage scarcities. Collectors have known for years, for instance, that certain Morgan dollars (1883-S, 1880-O, 1896-O, 1897-O) were very difficult to find in higher Uncirculated grades, but it wasn't until the advent of TPG pop tracking that the anecdotes of years of collectors were able to be supported by hard data.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
824 Posts |
Quote:
TPG populations and survival estimates are meaningless. Quote:
There is one thing they ARE useful for, and that's determining the condition scarcity curve for a given coin. . I have used them this way as well but I do wonder how many of the higher graded coins are duplicates from people trying to get a higher grade? |
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Bedrock of the Community
United States
12057 Posts |
Probably quite a few, but it's still reasonably accurate for guesstimating.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
13014 Posts |
Quote:
Slabbing can also help a bit with authenticity, but it must be understood that Third Party Graders are not in the business of providing a definitive answer to authenticity. This is not true at all. The absolutely ARE in the business of authentication. Quote:
. I have used them this way as well but I do wonder how many of the higher graded coins are duplicates from people trying to get a higher grade? Just assume the population is inflated anywhere you see a large price jump in the next grade. |
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Replies: 19 / Views: 3,594 |
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Posted 05/23/2018 07:53 am
