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 Replies: 30 / Views: 4,223 |
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Pillar of the Community
Australia
762 Posts |
I am curious as to why modern decimals are being certified like this one. http://www.ebay.com/itm/AUSTRALIA-1...em5d3296816fSurely the price of $15 wouldn't even cover the cost of it being certified by PCGS. Considering the speciman value of this coin is only $5 why would anyone bother? This isn't the only one however. There are plenty of modern decimal coins which have been slabbed and are being sold for $30 to $40. So why do they do it? |
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Valued Member
Australia
163 Posts |
Hi MobOfRoos,
For the buyer its a great thing, if you can pick up coins like this under the cost it would cost you to slab it.
For the dealer, if any come back MS65/6 or higher (depending on current PCGS population), they can and do command a premium, especially if it is a top of the population coin. If the coins are from a roll, the slabbing costs can easily be made up with the higher graded coins, considering they all were the same price to start with.
-rob
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Pillar of the Community
Australia
1244 Posts |
The coins got lines on the face and it's no exactly what you would call a good uncirculated coin, for $20 you buy a proof set, no foams or cert.
I think the seller has just sent a bunch of coins away and hoped for the best, getting rid of the ones that didn't make the grade. But there not really worth slabbing.
I am happy with my little bugger from circulation any day. It only cost me 5c duh.
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Pillar of the Community
Australia
4411 Posts |
A complete waste of time! and money! Unless theyre keys like 1972 5c or 1968 1c/2c and they grade MS-64 or higher theres no point.
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Bedrock of the Community
Australia
21788 Posts |
Waste of money.
Probably out of a mint set. No bag marks.
Slabbed to preserve the condition.
If I were that desperate, I would have bought a screw capsule from a dealer for a buck.
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Pillar of the Community
Australia
7096 Posts |
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Valued Member
Australia
163 Posts |
The PCGS cert verification has a great picture of the coin. To me this coin missed MS66 just with the few marks in the field on the obverse.
I looked through a number of mint sets at the last Petersham fair and the coins in most of them you would not get a good grade on.
I'm sure others who have been collecting for years might see it differently, but to buy an early mint set and get a coin to make MS64 would be tough.
If I find/buy a early decimal coin worthy of MS65 or MS66, I personally would attempt to have it slabbed, or pay the premium to acquire it already slabbed depending on the pcgs population for the coin.
Edited by rbarat
08/12/2012 12:26 am
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Pillar of the Community
Australia
4411 Posts |
The PCGS brand is so successful because of views such as yours rbarat. Not that there's anyway wrong with how you are thinking! People want the best and the easiest way to determine that is by looking at the PCGS population reports. Its nice to think you own a coin that is or amongst the best known. Straying from your post, it has to be remembered that until PCGS slab every coin on the planet theres a chance that theres better out there. I dont subscribe to slabbing but appreciate that some people do and also that other people know how to use it to make mega bucks. I do quite like the PCGS slabs and think the decimal coins look neat in them but I wont be running out buying them unless they are tough dates in extra high grade with a reasonable price tag.
Edited by enworb
08/12/2012 12:35 am
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Pillar of the Community
Australia
7096 Posts |
Quote:
The PCGS brand is so successful because of views such as yours rbarat. Not that there's anyway wrong with how you are thinking! People want the best and the easiest way to determine that is by looking at the PCGS population reports. Its nice to think you own a coin that is or amongst the best known. Straying from your post, it has to be remembered that until PCGS slab every coin on the planet there's a chance that there's better out there. I don't subscribe to slabbing but appreciate that some people do and also that other people know how to use it to make mega bucks. I do quite like the PCGS slabs and think the decimal coins look neat in them but I wont be running out buying them unless they are tough dates in extra high grade with a reasonable price tag. I totally agree with enwarb, I have a couple of Parliament house florins graded by PCGS and the population report for these is MS62 = 65 AU58 = 21 There are far more in the same grade out there I would imagine. As for decimal coins,This one is a better grade and I got this one raw.   Most of my 20 cents are as good or better than this one. There would be thousands of coins in this grade out there and not on the PCGS population charts. I think the PCGS pop numbers are pretty meaningless in Aus at the moment because very few Aussie collectors send their coins in for grading by TPG's. The cost and time it takes is a deterrent and for a lot of collectors it just doesn't suit the way they collect. |
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Pillar of the Community
Australia
515 Posts |
Lots of collectors are taking up collecting their decimals in slabs. It's not just the commemoratives or the more popular 50c to collect it's becoming the entire decimal series. Ok so MS64 in this case is not the best grade but you can buy it for a bargain price and it comes with those PCGS guarantees! If you want to buy a pvc mint set and it arrive covered in pvc slime and bagmarks or spots that you didn't see on the reverse in the ebay image then you'll be forking out for a lot of mint sets before you luck upon a nice coin. I do agree the pop report isn't a true indicator yet as there are so few graded so far. Time will tell. |
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Valued Member
Australia
163 Posts |
If anyone is going to ANDA next week, I recommend taking a look at a few of the decimal in slabs.
You will find that PCGS actually are quite tough in their grading, and to get top or 2nd in the population charts isn't that easy.
The coins that have been graded until now would probably have been cherry picked from 10's, maybe 100's of coins unless the coin was rare or a key date.
Taking a coin out of a mint set isn't a guarantee on an MS65 or above, nor is sending a coin graded as 'Gem' or ex mint roll.
PCGS have lustre as one of the features they look for when grading a coin. Compare the lustre on a later decimal with that on a earlier decimals. Some newer coins whilst they have some lustre, don't really have the gorgeous frosty lustre of the earlier coins.
For example, I opened a roll of uncirculated 2005 20c pieces and none of them had any significant lustre to them, and I think the best from that roll will be MS64 due to lack of lustre and some tiny bag marks.
I will send 1 or 2 over to check my grading against theirs, but I won't be holding my breath.
-rob
Edited by rbarat
08/12/2012 05:21 am
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Pillar of the Community
Australia
1295 Posts |
Anyone who thinks finding decimal coins worthy of grading is easy is kidding themselves. We haven't done many decimal submissions but when we have we send less than 5% of the coins we take out of rolls or mint sets. It's not just a matter of cracking a roll and sending the lot nor is a matter of blindly buying mint sets and sending those. Anything pre 1984 in a mint set is ruined by PVC so you can forget those. And 1984 mint sets onwards are mostly rubbish, very little worth sending. It really is eye-opening how bad some mint set coins really are.
So the coins you see on our website (or currently being sold by Stuart Andersen coins for example) are the cream of what may be 200+ coins of that particular type that we've looked at. We've broken open a number of rolls of a particular type and sent NOTHING from them to be graded. I can guarantee you the decimals we've had graded (and Stuart Andersen's for that matter) better than most decimals you'll see raw in dealers books. Almost no dealer grades decimals, they break them from rolls or mint sets, put them in a 2x2 and call them choice or gem and price them blindly from Macca's.
As to the coin in the OP I am not sure why it would have been sent. Perhaps someone (blindly) sent all the coins from a PVC mint set. 1978 5c rolls are easy to find and MS64 is a pretty average grade, certainly not hard to improve on. But hey, $15 is less than slabbing costs and it's a cheap way of getting into graded coins.
Edited by markn
08/12/2012 06:56 am
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Pillar of the Community
Australia
7096 Posts |
Quote:
Anyone who thinks finding decimal coins worthy of grading is easy is kidding themselves. We haven't done many decimal submissions but when we have we send less than 5% of the coins we take out of rolls or mint sets. It's not just a matter of cracking a roll and sending the lot nor is a matter of blindly buying mint sets and sending those. Anything pre 1984 in a mint set is ruined by PVC so you can forget those. And 1984 mint sets onwards are mostly rubbish, very little worth sending. It really is eye-opening how bad some mint set coins really are. I argree with markin. Here is a coin I have just cracked out of a 1984 mint set. The 1975 coin is from Stuart Anderson. The differance in quality is starkly evident. mint set coin   Stuart Anderson coin |
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Pillar of the Community
Australia
841 Posts |
 yep I'm slowly working it all out  it's all about fleecin  |
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Pillar of the Community
Australia
7096 Posts |
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yep I'm slowly working it all out it's all about fleecin Well put  AJ Sometimes the short simple and honest answers are by far the most poignant  |
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Pillar of the Community
Australia
1005 Posts |
AJ and trout, While I dont particularly like having my coins in slabs. I don think there are some good reasons for them. They are SO MUCH more trustworthy than a dodgy (or even clueless) sellers grading when buying from ebay. Trout, You were burned with an incused 50c recently. Do you think that would have happened if the coin was slabbed? I only have 1 slabbed coin (ms64 graded 1972 5c) and there is probably a 50/50 chance it will come out of tge slab, but when buying it, the slab did give confidence that the coin would be good. It was bought for $50 which is probably a fair value with or without the slab, so I dont think the seller made the slabbing price back, but it would have made getting the right price easier for them. Edited by ozcoins
08/12/2012 6:59 pm
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Replies: 30 / Views: 4,223 |
Posted 08/11/2012 10:27 pm
