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 Replies: 22 / Views: 3,253 |
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Pillar of the Community
United States
2365 Posts |
I agree. The last few minutes of an auction is not a good time to be asking for advice. A link to the particular auction site may have been helpful to facilitate a better and perhaps quicker response. I also agree that the bidding is awfully low if the coin is truly MS66. Buyer beware where "investments" are concerned as well and also with e-bay in some cases. IMHO
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Pillar of the Community
 United States
1283 Posts |
quote:
Originally posted by dsking
I agree. The last few minutes of an auction is not a good time to be asking for advice. A link to the particular auction site may have been helpful to facilitate a better and perhaps quicker response. I also agree that the bidding is awfully low if the coin is truly MS66. Buyer beware where "investments" are concerned as well and also with e-bay in some cases. IMHO
Here it is. Tell me what the catch is. http://cgi.ebay.com/VERY-RARE-1866-...NR_W0QQitemZ150044906590QQihZ005QQcategoryZ3356QQrdZ1QQcmdZViewItem |
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Pillar of the Community
Czech Republic
803 Posts |
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Pillar of the Community
United States
1283 Posts |
quote:
Originally posted by TwoKopeiki
The "catch" is that the grading company is ANI. You can read about them on the TPG forum here:
https://goccf.com/t/7366
Wow. I feel much better about "missing" a bidding opportunity. So pretty much I should ignore any TPG companies besides PCGS, NGC, and ANACS? |
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Pillar of the Community
Czech Republic
803 Posts |
Until you learn to grade accurately yourself and have to rely on a TPG - yes. I know you've heard this many times already, but I will say it again ... and again ... and again - buy the coin, not the slab. BTW, here's another post about "ANI" grading: http:// (046) Not Allowed - Auto-Removed &threadid=492007&highlight_key=y&keyword1=ANI |
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Pillar of the Community
United States
1283 Posts |
quote:
Originally posted by TwoKopeiki
Until you learn to grade accurately yourself and have to rely on a TPG - yes. I know you've heard this many times already, but I will say it again ... and again ... and again - buy the coin, not the slab.
BTW, here's another post about "ANI" grading:
http:// (046) Not Allowed - Auto-Removed &threadid=492007&highlight_key=y&keyword1=ANI
The thing is, I don't feel confident grading on my own. At the same time I would like to build a nice portfolio of coins, and I don't want to "invest" in a coin by paying for an overgraded price. I really like old coins, and I more or less look at them as a way to put money away in a manner that I ejoy. |
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Bedrock of the Community
United States
14454 Posts |
if you dont know how to grade you will have to do what I did when I started, I bought NGC,ANACS,PCGS only then when I got a little better I ventured out into PCI, ICG, SEGS which sometimes get it right and sometimes you can even find some undergraded in their holders. But until you feel confident in yourself I would stick with the big 3 especially when you are wanting investment coins because the other companies coins just do not come close in value as those do. Dont fall for the nice looking slabs of NTC either because I have seen coins in their holders up to 6 points off and even seen some that were counterfit in their slabs so I really try to avoid them at all cost unless it is something I am confident in buying and it is bever at what the coin would be worth if it was actually the grade that is on the label
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Valued Member
United States
390 Posts |
USA, The old adage, if it sounds to good to be true, it probably is, seems warranted in this case. I concur about the ANI slab. If is had been PCGS or NGC or ANAC, then you would be onto something. But the number of ABC grading services astounds me, and I haven't been here that long. The difference between MS66 and MS64 can be a lot, and (I haven't read the threads on ANI yet) I bet they over grade two to three grades verses the big two. You need to buy some books on coin grading. Photograde (I just got my copy the other day  ) gives you some great info, and there are other books as well. The more you learn, the easier it will be for you to spot the uh oh auctions. And, it's hard to grade a coin form a picture on the Internet too. But, I would compare the auction picture to whatever similar coins you can find on https://www.heritageauctions.com (you can sign up for free and be able to search their archives as well). Their coins are graded and you can see pictures of multiple graded coins of the same kind as you are interested in. With a book on what to look for, and those pictures, you should be well on your way. I think you did well not bidding on this one. And, if you are looking at ebay, go to this site and type in the seller's screen name. It will give you all the negative and neutral feedback on them. Very, very important when bidding on expensive items like coins: http://toolhaus.org/ |
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Pillar of the Community
United States
1283 Posts |
Thanks for the advise guys. I think I am going to stick to the 'big three' when I'm buying the higher end coins. One last question: what is the general price range of coins that begin to get graded? Obviously nobody is going to send a $25 coin to be graded.
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Bedrock of the Community
United States
20753 Posts |
quote:
Originally posted by USArmyParatrooper
Thanks for the advise guys. I think I am going to stick to the 'big three' when I'm buying the higher end coins. One last question: what is the general price range of coins that begin to get graded? Obviously nobody is going to send a $25 coin to be graded.
Oddly enough I've seen numerous coins that are worth only a few dollars that someone had graded and are slabbed. Many by organizations like PCGS. If someone sends in a coin for grading, grading services don't care if it is worth 5 cents or 5 million, they grade it, slab it and send it back. At coin shows I see them all the time and always wonder why someone would do that but there they are. I recently bought a slabbed and graded 1962 Lincoln Cent that was MS60 for $0.50 just for the fun of it. I go to about 3 coin shows a month and see just about everything possible with coins lately. As to the value of coins on places like ebay, A kid I know showed me a $5 Gold peice he bought on ebay for $5. It turned out to be real. The funny part of the deal was the buyer paid for the postage also. You just never know. |
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Pillar of the Community
United States
751 Posts |
quote:
Originally posted by USArmyParatrooper
One last question: what is the general price range of coins that begin to get graded? Obviously nobody is going to send a $25 coin to be graded.
You must not have seen this thread: https://goccf.com/t/8619 |
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Pillar of the Community
United States
2365 Posts |
quote:
Originally posted by USArmyParatrooper
quote:
Originally posted by TwoKopeiki
The "catch" is that the grading company is ANI. You can read about them on the TPG forum here:
https://goccf.com/t/7366
Wow. I feel much better about "missing" a bidding opportunity. So pretty much I should ignore any TPG companies besides PCGS, NGC, and ANACS?
I'm glad that you feel better about missing this opportunity. Although it looks like a very nice coin and worth the bid, it's better to be cautious when inexperience is in your portfolio on grading, TPG's etc. The seller looks to have very good "feedback" and I didn't see anything that would suggest inappropriateness on their sales and so forth...ie: reasonable shipping, no out of the ordinary claims ANI has received such negative "press" (so to speak) that I too am cautious about their grading expertise. Yes, stick with the top 3 until you are comfortable with your own grading skills...atleast to the point where you can feel close to correct. Grading skills are just that..."skills". I too am not even close to being an "expert" but, the Photograde and others are excellent references as mentioned in the thread. Hopefully, there will be other opportunities for you! Our family forum is always here, just maybe not within 20 minutes for an accurate opinion. Thanks for asking this though. We all learn from one another. |
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Valued Member
United States
218 Posts |
quote:
Originally posted by USArmyParatrooper
quote:
Originally posted by TwoKopeiki
Until you learn to grade accurately yourself and have to rely on a TPG - yes. I know you've heard this many times already, but I will say it again ... and again ... and again - buy the coin, not the slab.
BTW, here's another post about "ANI" grading:
http:// (046) Not Allowed - Auto-Removed &threadid=492007&highlight_key=y&keyword1=ANI
The thing is, I don't feel confident grading on my own. At the same time I would like to build a nice portfolio of coins, and I don't want to "invest" in a coin by paying for an overgraded price. I really like old coins, and I more or less look at them as a way to put money away in a manner that I ejoy.
You NEED to find a dealer you trust who will be able to provide some guidance for your collection. Investment in rare coins requires one of 3 things; great luck, very good skill, or a skilled dealer's guidance. Unfortunately rare coins rarely make a good investment vehicle since they tent to experience prolonged down cycles between smaller boom cycles (we are currently in an unusually long boom cycle, which some think is ending). The problem with buying random high grade coins is quality. No 2 coins are identical, and a skilled dealer can guide you in which coins are "solid for the grade" and which are "premium for the grade" and which are downright dogs in a maxed out holder, that will always be dogs. Even buying big 4 coins only will not insulate you from this problem! All 4 have coins that run the gammut from dogs to premium in their holders. Only someone skilled can tell the difference (which you obviously aren't yet), but when it comes time to sell you can bet that the market will discount the poorer coins and place a premium on the true quality coins. Be prepared to pay strong money (sometimes more than the published prices) for the best quality, but in the long run you will be rewarded for your insistance on quality. |
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Pillar of the Community
United States
1283 Posts |
quote:
Originally posted by dsking
quote:
Originally posted by USArmyParatrooper
quote:
Originally posted by TwoKopeiki
The "catch" is that the grading company is ANI. You can read about them on the TPG forum here:
https://goccf.com/t/7366
Wow. I feel much better about "missing" a bidding opportunity. So pretty much I should ignore any TPG companies besides PCGS, NGC, and ANACS?
I'm glad that you feel better about missing this opportunity. Although it looks like a very nice coin and worth the bid, it's better to be cautious when inexperience is in your portfolio on grading, TPG's etc. The seller looks to have very good "feedback" and I didn't see anything that would suggest inappropriateness on their sales and so forth...ie: reasonable shipping, no out of the ordinary claims
ANI has received such negative "press" (so to speak) that I too am cautious about their grading expertise. Yes, stick with the top 3 until you are comfortable with your own grading skills...atleast to the point where you can feel close to correct. Grading skills are just that..."skills". I too am not even close to being an "expert" but, the Photograde and others are excellent references as mentioned in the thread.
Hopefully, there will be other opportunities for you! Our family forum is always here, just maybe not within 20 minutes for an accurate opinion. Thanks for asking this though. We all learn from one another.
The seller has no negative feedback, but there's a couple things I don't like/trust. He lists it as "MS-66 Trends $3500". I'm quite sure he knows with ANI grading it's probably much lower, and it's (definately) not worth $3500. To me it just shows a willingness to decieve. |
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Valued Member
United States
179 Posts |
Yep, and who in their right mind would put up a coin truly worth $3K plus with no reserve and let it go for $200? This seller is no beginner, sisnce 2000, so the old adage must rule here, It IS too good to be true...not much is free in life.
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Replies: 22 / Views: 3,253 |
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Posted 10/16/2006 10:29 pm
