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Morgans, Placing In Albums, Break Open Slabs Or Not

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189340 Posts
 Posted 10/06/2009  11:09 am  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
But I sell nothing.
Neither do I!

Quote:
(Not entirely true, but very close!)
Only because you give them away in your way cool contests.
Pillar of the Community
United States
5631 Posts
 Posted 10/06/2009  12:10 pm  Show Profile   Bookmark this reply Add Morgans Dad to your friends list
With all the opinions I have read, I feel I might be a pretty, pretty, quick to jump person, I Now feel I will complete the album, and Make my own pages to mount in the album from store bought sleeves, and this way I will feel pretty, pretty, good about the whole thing.

I appreciate the time and knowledge and expertise in the opinions given, I can Not be a cracker, my Father was Not a cracker nor was His Father, simply put, either your a cracker or your not, crackers are just Not in this the family!
Rest in Peace
United States
4849 Posts
 Posted 10/06/2009  1:45 pm  Show Profile   Bookmark this reply Add johnny54321 to your friends list
For me personally, I agree with all others who strongly prefer to remove the coins and place into an album. However, to me it is a "risk vs. reward" issue. Say you purchase a $500 Au-55 coin. First off, how is the market for the coin raw? If it is not a heavily counterfeited type, there wouldn't be as much risk to sell for full value raw. Also, how much money would you lose if it downgraded? The difference between AU-55 and AU-50 for many coins is quite minimal....so not much risk. I'd crack it. (My certified Seated and Trade dollars in my type set were pushing the "risk/reward ratio".)

However, say you purchase an MS-65 coin for $4000. The difference between 64 and 65 could be several grand. Or if it's a type that is often faked, you will really need certification to get full value for it.

So for me, it really depends on the coin. When I purchase coins that I'm going to de-slab and place in an album, I try to purchase them at a grade that carries little risk.
Bedrock of the Community
United States
20753 Posts
 Posted 10/06/2009  4:59 pm  Show Profile   Bookmark this reply Add just carl to your friends list
I have no slabbed coins. One nice thing about being old is you really no longer care about a lot of stuff. A slabbed coin is for someone that is considering selling it tomorrow or someday in the future. As you get older, this is the future so if you haven't sold your slabbed coins yet, you may well never have time to do that.
I've purchased many slabbed coins in the past. I always make it clear to the seller I refuse to pay for the slab so if the price for the coins are for the coins only, then I'll buy them. Many, many have been cut open so the coins could go to the my Albums where they belong. I just can't imagine those individuals with hundreds or thousands of slabbed coins. Need a separate room just for those.
One thing I suggest is being careful opening them to keep the little information sticker in good shape. I place a separate blank page just inside the cover of my albums and tape those on there. I only tape the top of those so that if I move the coin to another Album, that sticker goes with it. I really don't know why I do that though since I really have no intention of ever selling a coin and at my age, if I do I'd better get moving or it's to late.
I sometimes wonder who inherits this mess will wonder why I keep those things on the inside cover of the Albums. Since they are not attached to the coin, who knows if it is for the coin in the Album.
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United States
470 Posts
 Posted 10/09/2009  5:37 pm  Show Profile   Bookmark this reply Add Andrew289 to your friends list
Ofcourse coin collectors never sell their collections but their heirs do after the collector has died.

If a coin is slabbed and you paid over $500 for it. Leave it in the slab. You heirs will not lose money when they sell it after you are gone. The crime that most collectors commit is not telling their heirs what is valuable and what isn't so when the collectors die, it all gets sold to a dealer who low balls the heir because he/she doesn't know any better as they were "Dad's coins" and he never said much about them.

Heirs aren't interested in pulling key dates out of albums and resubmitting to PGCS or NGC. They take the whole album down to "lou" the friendly dealer. "Lou" offer a album price that he knows he can double if he breaks up the collection and sells it off coin by coin, so the heir takes the deal. It's cash in hand.
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United States
14454 Posts
 Posted 10/09/2009  11:23 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
I have cracked 3 and 4 thousand dollar coins to fill a hole in an album. I don't care what its worth in the slab if it was bought to fill a hole it is coming out of that slab and going in there. I do leave a sheet with what the coin was graded and what company and what it is worth and what I paid for it. I also have another list of coins to send in to be regraded if they ever intend to sell the coins because of resale value but I hope whoever gets my collection keeps it because it was mine
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United States
382 Posts
 Posted 10/21/2009  2:53 pm  Show Profile   Bookmark this reply Add tonphil1960 to your friends list
I agree with what was said in that condition matters. I am not a big slab fan, but if I had high grade Morgans in slabs that cost me alot of cashola they would stay in the slabs, say MS 64 and above,,, for me anyway that very high grade. If I had a Morgan collection of MS 63 or under that grade I would pop them out and get them in the albums. Nothing like a album full of Moragns ! JMO

Tony
Valued Member
United States
88 Posts
 Posted 10/21/2009  6:28 pm  Show Profile   Bookmark this reply Add TokenDave to your friends list
My preference is to "crack it out." I will make an exception for a very special coin such as a 1901S Quarter or an 1895 Morgan, but in those cases I scan the coin in the slab (obverse and Reverse), attach the scanned pictures to a round disk of cardboard of the appropriate size and put the "cardboard coin" in the album. The scan is hardly detectable as a "stand-in" coin, so the album is "complete" and the coin is safe.
Pillar of the Community
United States
1599 Posts
 Posted 10/22/2009  11:51 pm  Show Profile   Bookmark this reply Add jprine to your friends list
I just caught the but recently; started a franklin dansco (nearly finished). Cracked my first slab ever about 6 weeks ago. Since then I have cracked about a dozen. After the first couple, it was a breeze. The only slabbed coins I have left are some silver eagles. I really like the coins in the dansco. I really enjoy being able to see all of my coins together which I do regularly (my wife thinks I'm nuts). I have also started learning how to photo my coins. It is really easier when they are not in slabs (always use gloves). Anyway, just my opinion-free those coins.
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United States
6394 Posts
 Posted 10/23/2009  1:39 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list
Valid points all. The only thing I would mention is that I've read horror stories of coins being submitted for grading after they had been kept in albums with sliding plastic windows. Coins previously thought to be gem quality received low grades of MS-61 or MS-62 because the portraits had fine parallel abrasions produced when the windows were slid open and closed. I don't know if the Dansco albums are immune to this problem but it is something to consider.
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1055 Posts
 Posted 10/23/2009  2:31 pm  Show Profile   Bookmark this reply Add cownas22 to your friends list
I will add one thing. Remember that the grade the coin received by the TPG is no longer valid once the coin is taken out of the holder. Just because you have a slip of paper stating a grade does not mean the said coin is in the same condition.
Valued Member
United States
258 Posts
 Posted 11/29/2009  10:11 am  Show Profile   Bookmark this reply Add 925dealer to your friends list
I will put a third take on this issue. Personally I would never crack out a coin from plastic just to put it in a book. The reason for this is because of the following..

A. Books damage coins to include sliding plastic marks across it's face and tarnish along the border of the coins. Books over time (even Dansco) do damage coins.

B. Somebody went to the expense of having a coin slabbed once and this gets pricey and thus I consider it "waste" to do it again unless you are attempting to get a higher grade than what it is currently graded at.

C. Since the coin is slabbed you know it is "safe" from general environmental damage short of a fire.

D. While I understand the issue that it is "my" coin and I can do whatever I want with it please keep something in mind. Once we are dead and gone what have you done to protect/preserve your collection so it can be enjoyed by the next generation? Books just don't meet that criteria. Heaven knows I have seen so many wonderful coins that were bu when put in a book (and yes this includes Dansco's) that are now toned/damaged (not pretty either) in some areas several years later. Honestly it is a shame as the coins will never again be what they once were.

Let me close off by saying this. When it comes to common coins in grades up to au 58 the Dansco book is ok as the coin is already damaged or showing signs of wear. NEVER USE THE OPEN AIR BOOKS, ESPECIALLY THE WHITMAN BOOKS WHICH DESTROY COPPER PENNIES AND SILVER COINS.

Choice uncirculated and proof coins should NEVER be put in a book as they will never again be in the pristine condition they currently are once placed in a book. One of my friends fills the "hole" in his Dansco books for coins he has with a piece of paper saying the grade ie. MS 63 and leaves his beautiful coins in their slab. This lets him know the hole is filled while at the same time protects the coin for the long term. I am a coin dealer and collector and consider conservation to be a part of being a dealer and collector. Try to remember our next generation and at the same time keep in mind you are trying to protect YOUR investment. But again, the choice is yours to make. I just want you to look at a bigger picture and think outside the box. It is an honor to hold a piece of history in one's hand. Don't take that away from the next generation without careful consideration. Please forgive me for waxing poetic....Sincerely, John Leckrone
Edited by 925dealer
11/29/2009 10:21 am
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United States
1083 Posts
 Posted 11/29/2009  10:39 am  Show Profile   Bookmark this reply Add okie-colin to your friends list
Some really good thoughts here. I have cracked out every coin I ever bought slabbed. I cracked out a AU-53 1909-S VDB and a 14-D in VF-35 to place them in a Dansco album and complete the set. I just finished cracking out nearly twenty Walkers in 63 to 65 holders to complete a short set. If I ever sell my collection I have made a list of all the keys I own and some of the more valuable types, like gold and Seated dollars and I will just have them reslabbed - it's only 25 bucks a piece. Since I buy the coin and not the slab I am reasonably confident they would grade the same or higher. As far as Dansco slide marks, you just need to be sure that the surface of the coin is not touching whichever slide you are moving. In regards to Morgansdad dilema I would just add that if he has GSA Carson City Morgans I would keep them in the GSA holders rather than cracking. In that case the holder is part of the history and provenance of the coin itself. I think the decision to crack or not falls this way - are you more of a collector or more of an investor/dealer? To each his own.
Pillar of the Community
United States
8904 Posts
 Posted 11/29/2009  11:06 am  Show Profile   Bookmark this reply Add Moe145 to your friends list

Quote:
put the "cardboard coin" in the album


That never even occured to me! You get to protect your coin and show it too!

GENIUS!
New Member
United States
14 Posts
 Posted 12/08/2009  10:25 am  Show Profile   Bookmark this reply Add otie79 to your friends list
Below ms 65, crack it. Nothing better than pulling out the dansco and seeing no holes.
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