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I Have Read Several Times On This Forum It's Not Wise To Slab < 150$ Coins

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 Posted 09/06/2021  10:31 am Show Profile   Bookmark this topic Add grospoisson to your friends list Get a Link to this Message
Having lurked then joined the forum, I have been confused (only slightly) of the statement "only slab high value coins". I think this logical if you plan to buy and sell coins, however I want to have a slabbed collection from EF( for key dates) AU (for semikeys) and MS-63 or better for more common early Lincoln wheats and MS-66 or better from 1934 to the present. I am thinking of when I am long gone, my children or grandchildren can have an idea of what to accept for my collection. If coins are raw they will be offered 10% or less of the greysheet value.
When I began to assemble my collection seriously in 2002 I bought a dansco album, thinking they would be protected to a certain degree. I was able to get common teens ,twenties, and early thirties and a lot of them are very nice 64-65 I think anyway. slowly the collecting bug waned only to reignite two years ago.
If you guys look for the types of coins I am talking about, you will see them going from 75 to 150$ a piece slabbed. There are two things I considered. First buy them slabbed (can't afford that or even close) or submit my original raw coins which I paid affordable prices for.
My thinking is my raw coins will go to waste but slabbed coins can eventually be resold by my kids or whomever and get a few dollars for them.
My LCD told me 20 years ago that it was unwise to collect copper in our living environment and coin prices may stay stagnant for awhile, but they will not drop in price, only rise ever so slowly. (he seems to have been right at least with early copper).
The two coin shows I attended had very very little slabbed copper and wanted three times the PCGS price guide for them. Ebay sellers want three to four times the PCGS price guide for early slabbed Lincolns.
Veteran collectors on here , is my logic out in left field? I know collecting should be fun, but finances and recouping some of my money by my kids can be a deciding factor whether to slab or not. Feel free to chop my logic up in fact I encourage it. Depending on the results my first submissions to PCGS my questions on to submit or not may be answered for me.
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 Posted 09/06/2021  10:43 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I actually wrote about this (you can read it here)

http://goccf.com/t/378763


But a synopsis is, slabbing makes sense if it meets one of the 3 criteria:
1) authenticity
2) upside potential (selling for more than you paid)
3) value

The reason's not to slab are:
1) can you buy it slabbed cheaper than it will cost you
2) low cost coin
3) common modern coins

Basically if you can buy it cheaper than what it costs you to get slabbed, buy it slabbed instead of you doing it yourself.
Edited by hfjacinto
09/06/2021 10:45 am
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 Posted 09/06/2021  11:16 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Rereading your post, if doing this just got the wheat cents, I don't know if there is long term value in that. It seems most people only slab the keys. I also added the Lincoln cent to my registry on NGC and with 8 coins I'm number 24, so I don't know how popular the Lincoln cent collection in slabbed is.

I think if you have high grade Lincoln cents they make sense to get slabbed but common date/ lower grade may not make sense.
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 Posted 09/06/2021  1:37 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
If you submit yourself, it will cost you more money to slab a coin than it costs to buy it in many, many cases - plus you run the (very real) risk that you won't get as high a grade as you expected. Not a good plan to me.
Edited by Coinfrog
09/06/2021 3:25 pm
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United States
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 Posted 09/06/2021  5:31 pm  Show Profile   Bookmark this reply Add grospoisson to your friends list Get a Link to this Reply
"If you submit yourself, it will cost you more money to slab a coin than it costs to buy it in many, many cases - plus you run the (very real) risk that you won't get as high a grade as you expected. Not a good plan to me."

Here is what I am talking about and if so inclined please check for yourself. also " please remember an email may come across as smart ars but this is sent with the most gentle affect!
I just tried to look for a 1948, 1949 , 1950 and 1953 ms-66 Lincoln look at the prices. what you said about running the risk is very real to me and right on point. On ebay all these dealers want over 100 dollars each and it has been that way for months. It seems to me that dealers of Lincolns might take note and bulk submit these four dates (providing they can get an obw roll or two of these dates. It may well be worth it. What say you guys?
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 Posted 09/06/2021  5:44 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
If slabbing beings a sense of calm and order, go for it. In the end, it's a personal decision. Go for what you truly want.
Edited by ijn1944
09/06/2021 5:44 pm
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 Posted 09/06/2021  5:48 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Couple of thoughts -

First, eBay ask prices are not a good guide to value. Have you checked Heritage's extensive auction data base?

Second, my comment was based on your indication that you were aiming to acquire, in 66 or better, all cents from "1934 to the present". I was basically referring to issues from 1959 to 2021.
Edited by Coinfrog
09/06/2021 5:49 pm
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 Posted 09/06/2021  6:46 pm  Show Profile   Bookmark this reply Add hokiefan_82 to your friends list Get a Link to this Reply
I'll throw in a couple remarks, some repeating what's already been said...
When you look at the pricing for slabbing a coin, be sure to include additional costs - the shipping/processing fees by the TPG which are on top of the actual cost of slabbing, and your shipping costs to get the coins there. Those add up quicker than you may think!
For my type set, I've purchased many of the modern issues in PCGS or NGC holders for less than the cost of slabbing. Sometimes far less. As others have said, compare the costs, and just remember your coin may come back at a lower grade than expected.
You mention collecting copper in your living environment - remember that TPG slabs are generally not completely airtight. They give some protection, but not complete. Proper storage of the slabs is essential to protect them from your local environmental issues.
But at the end of the day, it's your decision to make. Once you have the necessary information and weigh the pros and cons, go with what makes you happy!
Edited by hokiefan_82
09/06/2021 6:52 pm
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 Posted 09/06/2021  9:59 pm  Show Profile   Bookmark this reply Add grospoisson to your friends list Get a Link to this Reply
I got the bug for a slabbed set but I thought I may have tunnel vision and am counting on other members to look at different perspectives and run them by me. Thanks you guys wisdom helps
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 Posted 09/07/2021  9:35 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
I just tried to look for a 1948, 1949 , 1950 and 1953 ms-66 Lincoln look at the prices. what you said about running the risk is very real to me and right on point. On ebay all these dealers want over 100 dollars each and it has been that way for months. It seems to me that dealers of Lincolns might take note and bulk submit these four dates (providing they can get an obw roll or two of these dates. It may well be worth it. What say you guys?

Even if you could get your hands on OBW, and bulk submitted them you would probably find that most of them would come back 62,63, and 64. Now check the going rate for those compared to your submission costs. Anything that comes back less than a 66 is a loser financially. (And if $100 already slabbed is too much for you how can you afford 100 grading fees for a bulk submission?)
Gary Schmidt
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 Posted 09/08/2021  4:55 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
I got the bug for a slabbed set but I thought I may have tunnel vision and am counting on other members to look at different perspectives and run them by me. Thanks you guys wisdom helps

Whenever people ask about buying slabbed coins, I ask why. You've indicated that your interest is primarily because it will help your heirs get the most for the coins when you pass away. While it may help some, having a strategy for selling is far more important. When selling, one needs to be able to offer coins to a broad audience. eBay is one way to do this, but the selling fees are pretty high. The best way I've found is to go to a large coin show and take offers from multiple dealers. However, this requires effort. Reality is that most heirs will just take everything to a local coin shop or two at the most and take whatever they're offered.

A significant downside to slabbing lower value coins (<$150 or so) is that you end up spending a significant portion of your budget on slabbing. Do you want more raw coins or fewer slabbed coins? Do you like slabbed coins better because another person is affirming the grade? Do you care about presentation? When putting together my Lincoln wheat collection, I found that putting the whole set in two large Capital Plastic holders presented very well to people who know little about coins. I even cracked my EF 1909-S VDB out of its slab to put it in the Capital Plastic holder along with the rest of the set. One final suggestion that I'd make is to buy the whole series in the same condition to the extent possible. My Lincoln wheat set is in brown EF to AU condition and looks very uniform. People love looking at it. When a set is presented that have varying condition coins, people immediately think that you couldn't afford the rarer coins in nicer grades. While that's likely true, people just don't go to that thought when the coins are all close in grade.
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 Posted 09/09/2021  07:35 am  Show Profile   Bookmark this reply Add dant5150 to your friends list Get a Link to this Reply
It sounds like you are doing as you are doing for a future that cannot be fully predicted.

example: You, cross-over but your children don't need a financial boost but are impressed by your passion and they assume the caretaker duties upon all you had built and never sell one plugged nickel.

example: You, cross-over but somehow suddenly and unrelated to your demise, people become human and the need and the greed for things and stuff and more than what one needs is eliminated from our goings on and the world becomes as BILL & TED'S Excellent Adventure dreamed up!

You are currently able to spend time with your children, they will appreciate this more than whether or not you slabbed a penny to get them an extra few bucks than a non-slabbed penny after you kick the bucket.

You could entertain them with what you hope they will use your coins for and what they could expect, but, you won't be able to be there at that time to ensure it so, have fun building it... the relationship with your tots/kiddlings/offspring!

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 Posted 09/09/2021  07:57 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
$150 is a sort of 'rule of thumb' potential value limit.

For a number of different reasons, none of my coins are slabbed.
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 Posted 09/09/2021  2:18 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I have many slabbed coins. I just let a previous owner pay the fee.
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 Posted 09/09/2021  6:17 pm  Show Profile   Bookmark this reply Add Rick-99 to your friends list Get a Link to this Reply
Thanks for the great information, I just learned a lot and probably saved some money too.
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 Posted 09/11/2021  12:09 pm  Show Profile   Bookmark this reply Add grospoisson to your friends list Get a Link to this Reply
"$150 is a sort of 'rule of thumb' potential value limit.

For a number of different reasons, none of my coins are slabbed."

"I have many slabbed coins. I just let a previous owner pay the fee."

These statements sound like sound advice. When you have a raw coin that looks pretty awesome but A slabbed one cost 100$. The cost of grading around 25 to 30 dollars seems cheaper than 100 dollars. The argument there will be there is no garrantee you will get the grade desired ( very valid statement). Having examined my raw coins under a 50 power scope to count bag marks, hairlines sharpness of strike then doing the same with a slabbed coin from NGC and PCGS and the raw coin in fact has fewer marks, then I probably should submit in my opinion (provided that's what I want).
After rereading the comments to my original post, I saw many many very excellent points. These gave me pause, yet I can't shake the argument to slab coins before 1960 that are expensive for me (75 to 100 dollars) slabbed like a 1948 or 1953 Lincoln and several other Philadelphia mint Lincolns (late 40's and early 50's) Maybe I want my cake and eat it to?

Reasons for
1. I want a slabbed collection( most on here will say then go for it) they are your coins
2. Most seasoned collectors say coins will tone over time even in slabs ( will slabbed coins take longer to tone so longer protection) or at least until I pass
3. In the event I want someone else to enjoy the collection later on, I can get some return on my set ( no intent to sell for now)
4.The price of submissions keeps going up, this will increase the selling price I would think
5. I know what I have
6. Potential buyers gravitate to slabbed coins and grade of them

Reasons against
1. the coins in question still exist in original rolls
2. waste of money since there is no garrantee I can get the grade I want (very real possibility)
3. unwise investment, money could be put to expanding collection
4. And the list goes on

One more time thanks to everyone who weighed in, I guess it's my dumb ars spending the money and trying to convince myself to go ahead and do it if it makes me happy!
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