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My First TPG Submission Results - Guessing Game

 
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 Posted 12/08/2018  9:57 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
Additionally - could you post a couple images of a few of the grades?
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 Posted 12/08/2018  10:26 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
I definitely lost money by paying for grading, but there is peace of mind confirming that the primary coin is genuine. I think the slab also supports the value of the coins that were straight graded. Not sure about the others. As much as I don't like the bagged coins, I'm glad I know that two are counterfeit, even though I could have easily figured that out myself.

Sorry to hear that. But as you said, you got some good out of it. I don't know if you did or not, but posting pics on this forum before sending things in for grading may minimize losses in the future.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
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 Posted 12/08/2018  10:44 pm  Show Profile   Check Jadey's eBay Listings Bookmark this reply Add Jadey to your friends list Get a Link to this Reply

Quote:
Additionally - could you post a couple images of a few of the grades?

@SilverDollar2017
I will post some pictures of the coins involved soon. For me personally, I am entertained as much by the experience of collecting as by the subjects of the collecting, so I have chosen to talk about the experience first (if that makes any sense). I think it makes for an interesting narrative, but I can understand why others might not be so inclined, and just want to see the results.

Also, I've bombarded the forums enough for today. I don't want people to grow too weary from my topics.
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 Posted 12/08/2018  10:48 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
It sounds like a worthwhile experience, especially since you got your bust dollar authenticated. I'm sure your yield will be better on the next submission.
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 Posted 12/08/2018  11:08 pm  Show Profile   Check Jadey's eBay Listings Bookmark this reply Add Jadey to your friends list Get a Link to this Reply

Quote:
It sounds like a worthwhile experience, especially since you got your bust dollar authenticated. I'm sure your yield will be better on the next submission.

Thanks Zurie. I believe it will be. To be clear, I don't necessarily begrudge the details grades when they are expected. It is what it is you know. I was just surprised by a couple of them. I will definitely be more diligent in the rudimentary procedure of at least measuring and weighing the coins prior to submission though. That's really what I regret.
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 Posted 12/08/2018  11:09 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply

Quote:
I will post some pictures of the coins involved soon. For me personally, I am entertained as much by the experience of collecting as by the subjects of the collecting, so I have chosen to talk about the experience first (if that makes any sense). I think it makes for an interesting narrative, but I can understand why others might not be so inclined, and just want to see the results.


Indeed, talking about the experience is just as interesting. I am quite interested in reading it.
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 Posted 12/09/2018  03:48 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
By doing this you are starting to understand the pitfalls of buying raw coins. You have just leapfrogged over many other casual numismatics.

Raw coins always come with high risk. And in most instances have a risk/reward profile that most advanced collectors aren't willing to accept. Gambling on coins rarely works out no matter how many times others boast of it.

You have learned a lot in a very short period of time. Sometimes mistakes are a tough pill to swallow and can be discouraging. But not so much if you learn from mistakes you made.

I love raw coins. They are much more pleasing to handle. They're much more fun to view without the annoying thick layer of plastic that comes with graded coins. But these little buggers are expensive and are considered to be an asset. So part of the equation for any numismatic should be to evaluate an exit strategy.

Raw coins guarantee a complicated exit strategy. With graded coins, not so much.

My advice moving forward would be to only buy graded coins unless you enjoy headaches.
Hi, my name is MikeF and I'm a degenerate coin collector. I also like adventure, big trucks, long walks on the beach and the Kansas City Chiefs.
Edited by MikeF
12/09/2018 04:16 am
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 Posted 12/09/2018  08:07 am  Show Profile   Check Jadey's eBay Listings Bookmark this reply Add Jadey to your friends list Get a Link to this Reply

Quote:
I love raw coins. They are much more pleasing to handle. They're much more fun to view without the annoying thick layer of plastic that comes with graded coins. But these little buggers are expensive and are considered to be an asset. So part of the equation for any numismatic should be to evaluate an exit strategy.

Raw coins guarantee a complicated exit strategy. With graded coins, not so much.

Boy, did you nail that one! That's exactly where I'm headed. I love coins, but my hoard is actually a bit of a headache, and its not "numismatically pleasing" for lack of a better phrase. My wife and kids have no interest in coins, so imagine what a headache they would be to them.

I'm planning to sell off all the bulk coins, and use the proceeds to buy some fine specimens. I think I will appreciate my collection much more this way, and it will make it easier to liquidate when I'm gone. I'd like to be able to leave some simple instructions like, "put it all in a box and ship it to XYZ auction house".

I do agree that these fine specimens should be bought slabbed by a reputable TPG. I'll still buy some lower value raw coins though. For example, I just noticed that I am 1 coin shy of a complete Franklin set. I'll buy another raw one to complete the set.
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 Posted 12/09/2018  10:16 am  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
Did you say pictures

I'm curious about the coins in the middle if that is not a rude request.
Edited by Lionel90
12/09/2018 10:19 am
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 Posted 12/09/2018  2:18 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
By doing this you are starting to understand the pitfalls of buying raw coins. You have just leapfrogged over many other casual numismatics.

Raw coins always come with high risk. And in most instances have a risk/reward profile that most advanced collectors aren't willing to accept. Gambling on coins rarely works out no matter how many times others boast of it.



Just remember to balance faith in TPGs with reality. In other words, buy the coin and not the slab.

For the most part the companies are great at determining fakes. However, with all of the information available online nowadays, determining most modern fake coins does not take too much effort if someone wants to do it for themselves. CCF is a great starting place. Finding and identifying die markers is an invaluable way along with weights, specific gravity, graphic overlays, comparison with online slabbed pieces pieces, etc.

Also remember there is no magic behind the TPG companies and coin grading. In fact Ron Guth, former PCGS president has been quoted as saying that anyone can learn to grade and even says the best graders only get it right 80% of the time (which is why the companies use three graders;s individual opinions per). However, I also submit his use of the term "right" needs to be better defined as "right according to the PCGS ways of grading," since different TPGs have different standards of grading.

So while some people choose to simply rely upon the grading services, it should be made clear that what these services provide is only optional, What they offer can be learned by (again, Mr Guth said,) "anyone." wit just takes an interest in finding these things out for yourself.

Either way a person chooses to enjoy their hobby is fine. Just always remember CCF's sayings of, "Education is the key to collectors' success," and "buy the coin, not the slab." These concepts are the most effective way to avoid pitfalls including losing much money on submissions.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Edited by Earle42
12/09/2018 2:20 pm
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 Posted 12/09/2018  5:57 pm  Show Profile   Check Jadey's eBay Listings Bookmark this reply Add Jadey to your friends list Get a Link to this Reply
OK, here are the body bags. Total brain fart on the first two counterfeits.


1879 S quarter weighing 5.7g vs authentic 6.2g




1870 S Half weighing 10.9g vs authentic 12.4g




1827 Half - Not Suitable for Grading
I suspect its been polished or whizzed or something.




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 Posted 12/09/2018  6:48 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The MM is a quick giveaway on the '69 and the date logo is the easy clue on the '70. I'm sure the Bust nuts will have a quick answer on the '27 half.
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 Posted 12/09/2018  11:25 pm  Show Profile   Check oih82w8's eBay Listings Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
I have not been bitten by the "body bag" bug as far as submittals go. I have been bathed in numerous "details" coins though. My observations were the same as Coinfrog's. That MM (25C) and dates (25 & 50C) jumped out at me at first glance. The mushy head on the quarter was pretty bad as well.

Bottom line; "...we learn by doing..." Aristotle
oih82w8 = "Oh I Hate To Wait"
"I tell her coins keep me off the streets and out of the bars." Moe145
"WOO-SAA...WOo-SAa...Woo-Saa" (calm down)
"An individual who vacillates when there is need of action will find themself beyond the hope of future success."

My Virtual 7070 https://www.PCGS.com/SetRegistry/ty...album/142105
Edited by oih82w8
12/09/2018 11:28 pm
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