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Should You Slab Your Coins? Baldwin's Of London Discuss.

 
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Author Previous TopicReplies: 5 / Views: 589Next Topic  
Pillar of the Community
United States
8340 Posts
 Posted 05/24/2021  03:44 am Show Profile   Check westcoin's eBay Listings Bookmark this topic Add westcoin to your friends list Get a Link to this Message
An interesting take on slabbing or professionally grading your coins, specifically hammered UK and ancient coinage.

I think their take isn't far off from how many of us Early American Copper Collectors (EAC), and C4 (Colonial Coinage) collectors in the US feel about them. Yes they add security and protection, as well as market value in selling. On the other hand, many times the TPG misses the call on correctly ID'ing the coin/variety/grade and losing the ability to hold history in your hands. An interesting discussion IMO.

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So is encapsulating your coins a good thing or a bad thing? The jury is still out and the debate goes on...
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Valued Member
United States
498 Posts
 Posted 05/24/2021  04:13 am  Show Profile   Bookmark this reply Add PNWType to your friends list Get a Link to this Reply
Where I stand, I want some old hammered stuff and other old world stuff, and I may likely buy slabbed, take photos, then crack and save the labels. I want my hands all over everything, especially when it's 200+ years old
[Custom 7070 v3.0 WIP] - - - [Custom 7070 v2.0] - - - [Custom 7070 v1.0]
Bedrock of the Community
Australia
18964 Posts
 Posted 05/24/2021  06:34 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I am really thankful that this video has come to my screen. I agree with all of the opinions made here in relation to slabbed coins, including those opinions that favor slabbing.

However,
I really prefer to grade all coins for myself, in whatever grading system that I may use.

Slabs do not allow for your own identification notes that can be made on a cardboard 2x2, or for how much I paid, and when acquired. That sort of information is critically important for me.

Thus, I am not a fan of slabs, especially in relation to ancient and hammered coins.
Pillar of the Community
United States
8340 Posts
 Posted 05/24/2021  08:41 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I agree sel_69l I have coins I keep in slabs, even ones I sent in to be slabbed, but none of them are coins I truly enjoy, like my oldest raw colonial and EAC coins, and Two Cent Pieces. I want, and need to be able to see them in hand to identify them without plastic in the way, to measure them, weigh them, etc. Ultimately to store them in a way that make sense to me as well, slabs just don't fit in that equation any more. Not to say the slabs don't have purpose and some, I might even keep in the slabs for protection or financial reasons. I'm sure if I had millions of dollars in high value coins they would be mostly slabbed, but what I do have it just doesn't make sense for me to slab them, I already know what they are, I don't need confirmation of grade or in many cases the variety (which most TPGs wouldn't even accept or use), and I certainly am not willing to spend my hard earned and seemingly ever decreasing dollars to pay for that privilege.

There are definitely good reasons to have coins slabbed, in in terms guarantees (financially), and for protection they do offer that. Liquidity, sight unseen sales, or even seen in photographs only sales. But over the years I've learned to grade from some of the best graders around in the business, I trust my eyes, and I know where to turn for opinions, if I'm ever questioning myself. Heck I was even offered work at a major grading firm in the late 80's and again by a different firm in the 90's both of which I turned down. I saw too many graders get burned out from grading coins day in and day out. Sometimes you want to enjoy your hobby and your business, not work it like a slave owner.

I don't however think I know everything, and I'll often go to others for opinions on varieties and die states, as well as values. I like the Richard Picker way of market pricing and grading all in one.

"You like that coin? How much do I want for it? I'd say it grades right around $150.00"

Richard priced his coins, he didn't put a numerical grade on them, that way there wasn't any ambiguity. You either liked the coin of not, at his price. Richard was also a consummate professional numismatist and always willing to help answer a question or help figure out a die variety. He is one of the great old school coin dealers and sorely missed today, like Art Kagin, and Elliot Goldman to name a few of the top of my head.

They were some of my mentors and they came up through the coin dealer ranks pre-slabs.

"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Edited by westcoin
05/24/2021 08:43 am
Bedrock of the Community
Australia
18964 Posts
 Posted 05/24/2021  8:26 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Slabs work best when you wish to sell American coins on eBay,
where the buyer and seller can easily agree on the independent third party grading and authenticity.
A bonus is that the coins are well protected during shipping.

This situation has never really applied for me,
because all of my more valuable coins have come by way internationally recognized public auction,
where I have examined each coin in hand for myself at the pre auction view day.
Pillar of the Community
United States
5328 Posts
 Posted 05/28/2021  09:14 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
I am VERY much for slabbing.
That means NGC or PCGS, not ANACS nor ICG.

Except for some of my birth year coins everything in my collection is slabbed.
In general all the coins that catalog over $150 are slabbed.
And I'm an EAC member!

Why am I strongly for slabbing?
In order of most to least importance:
(1) Authentication
-- My #1 collection is a US Type Set (1793-1964), Half Cents through $1 silver plus a short set (1834-1933) of $1 gold through Double Eagles. There is no way I could become proficient at authenticating all the different face values and different designs.

(2) Originality
-- I am reasonably good a detecting cleaned coins but weak at spotting altered coins.

(3) Grade
-- I'm a proficient technical grader particularly if I've got my grading guide for help with the less seen coins. I'm in the process of slowly learning EAC grading. At my age (80) I don't expect to ever get a strong handle on EAC grading.

(4) Value
-- I've got access to a few monthly catalogs. I only use the Red Book to get a quick idea of relative values within an issue. As I say to others, I'm going to go to the great beyond with my collection intact. That leaves dealing with the collection to my wife and a very trusted dealer.
Describe it as if there were no picture.
Picture it as if there were no description.
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