Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Why Certify A Common Date Coin

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 6 / Views: 292Next Topic  
Valued Member

United States
135 Posts
 Posted 03/27/2021  7:25 pm Show Profile   Bookmark this topic Add Hidalgo to your friends list Get a Link to this Message
As I've been assembling my US type set, I noticed that there are numerous common date coins that have been certified by PCGS, NGC, etc.

Why would anyone want to certify a common date coin (let's say that it's worth less than $5.00 in "raw" state) when the cost of certification is higher than the cost of the raw coin?
Edited by Hidalgo
03/27/2021 7:46 pm
Pillar of the Community
United States
941 Posts
 Posted 03/27/2021  7:42 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
Plenty of these get certified in bulk submissions by dealers hoping for a handful of HIGH grade specimens that for them justify the "wasted" money on the stuff they are clearing out to you.
My hoard of '82s is up to 204! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 382 x 1, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 4, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 13, 1682 x 15, 1782 x 57, 1882 x 49, 1982 x 33
Bedrock of the Community
Learn More...
United States
56761 Posts
 Posted 03/27/2021  7:45 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That summarizes it pretty well.
Bedrock of the Community
Learn More...
United States
15188 Posts
 Posted 03/27/2021  9:24 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Some common date coins can be high priced examples if graded 67+, 68+ which will justify the cost of submission .
Proud Member of The Black Sheep Squadron !
In Memory of Fallen Black Sheep Mates .
Pillar of the Community
United States
7109 Posts
 Posted 03/27/2021  10:07 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
As can be seen on most coin forums, there are a lot of people out there who don't do the homework, see many slabbed coins going for high prices on eBay, and assume any shiny looking coin can be sent in, slabbed, and sold for a high price. They have no concept of what a high grade coin looks like.

I believe a lot of slabbed face value coins can also come from this mistaken mindset as well.
The slabbed Half dollar No G farce: Download No-FG half vs. Grading Company Claims report here:
https://tinyurl.com/yalrstjz or higher resolution version: https://tinyurl.com/y7rksxu8

- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Pillar of the Community
United States
5230 Posts
 Posted 03/27/2021  10:08 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
For some it may represent something special.
Maybe the passing of a family member.
Maybe your first tooth fairy coin.
Lots other other possibilities similar to that.
Describe it as if there were no picture.
Picture it as if there were no description.
Pillar of the Community
Australia
757 Posts
 Posted 03/31/2021  06:55 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
A $5 raw coin can easily become a $1000+ coin IF it grades high enough. A few years ago I purchased a bunch (nearly 60) of a fairly common date Australian coin from a US seller, all Unc and most likely from a couple of broken rolls. Paid about $120 for the lot. Slabbed them a year ago and got 2 in MS67, 22 in MS66, ditto MS65 and a few that scored lower. In MS65 they sold for around $500 (I was outbid on one 18 months ago at $580) and I now own 2/3rds of all the 65, 66 and 67. The submission cost was $15/coin. Not that I'm selling but the slabbing was well worth it. BUT the risk for anybody with the slabbing game and buying highly priced slabs is that it just takes someone to submit a roll of choice coins and the perceived rarity (and value) can be heavily reduced. I'll bet the guy who outbid me probably has some remorse for paying that much when the population tripled six months later.
  Previous TopicReplies: 6 / Views: 292Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.26 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05