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People Are Buying The Slab, Not The Coin...

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Valued Member
zakgold's Avatar
United States
382 Posts
 Posted 02/14/2005  09:03 am Show Profile   Bookmark this topic Add zakgold to your friends list Get a Link to this Message Number of Subscribers
Take a look (scroll down) at prices realized for a 1932-D MS66 Lincoln from Heritage:

http://www.heritagecoins.com/common...&Lot_No=5528

Now I respect NGC as much as PCGS, but I find it hard to believe that PCGS slabbed coins get twice as much than NGC? It is not just this coin, look at prices realized throughout Heritage and there is a hugh gap between PCGS and NGC prices.

It must people buying the slab and not the coin. Makes you want to go into the "buying and breaking the slab" business and sending off the coins to PCGS. I'll wait the 70 days and almost double my money.



Edited by zakgold
02/14/2005 09:08 am
Rest in Peace
catman's Avatar
United States
954 Posts
 Posted 02/14/2005  09:32 am  Show Profile   Bookmark this reply Add catman to your friends list Get a Link to this Reply
I'm sure glad I'm a coin collector and not a slab collector.

catman
Pillar of the Community
United States
2724 Posts
 Posted 02/14/2005  2:09 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
The sad fact is that most will not care to learn how to grade. It is simple enough to put your faith in a holder and go. This is how the low tier guys make their fortunes. It is "our" responsibility to teach people that there are alternatives to the slabs and what price guides should be used. We all need to do our part to help our hobby.
Pillar of the Community
longnine009's Avatar
United States
1247 Posts
 Posted 02/14/2005  6:54 pm  Show Profile   Bookmark this reply Add longnine009 to your friends list Get a Link to this Reply
This is going to sound silly but please bear with me for a moment. Before driving down to Dunkin Donuts on Sunday morning do you consider all the possibilities of what might occur on that journey? If you did you would either not go or you would spend all day thinking about it. So you would just default to nothing will go wrong and go get your donuts. And like most people it would not even get to the stage a question, it would just be filtered out. If we did not automatically default to these black and white this or that answers in simple matters such as a drive to Dunkin Donuts we would become paralyzed. Black and white, this or that solves the problems even if the answer isn't true. It not an absolute that nothing will go wrong on your trip to Dunkin Donuts. It's just a probability.

But there is also a price to pay for these simple Black or white solutions. It becomes a habit a state of mind that is applied to the bigger questions automatically. And the faster society moves, the less time people have, the more they will seek fast answers. Someone reads somewhere that a certain TPG company is the best and it sticks. Or someone reads that they should always buy the highest grade coin they can afford. I bet you'll find that statement on the first page of most intro books on coin collecting. And people either don't have the time or the inclination to question these concepts. It bogs them down. If I can afford to buy an MS67 for $1,000 why is that better than buying a MS66 for $200? And the answer is because that "greyish" and not black or white.

"By allowing the existence of large bureaucratic systems
under centralized control, whether corporate, governmental,
or institutional, we unwittingly enter into a hideous conspiracy
against ourselves, one in which we resolutely work to limit our
minds and spirits." John Taylor Gatto
Edited by longnine009
02/14/2005 7:00 pm
Pillar of the Community
United States
2724 Posts
 Posted 02/14/2005  7:01 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
I don't know longnine, I am one that currently believes in buying the best that you can. The main reason is that higher grades bring more money. Now it is true that 95% of the people cannot tell the difference between MS-63 and MS-65 and MS-67, but for those that do, the money flows from the pocket.
I do agree with your logic though. People tend to follow the advice to the letter, and that is not always the best thing to do. For many years, PCGS has lead our little hobby and created one of the best advertising programs ever writtten. NGC with all the money thrown around still are having difficulties catching up. This is because perception is hard to change. Once you get people to believe something as fact, it takes more than a little effort to get them to change their minds.
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