Case Study: Why The Large Price Drop? Brazil 600 Reis 1758

The NGC census shows 7 straight-graded in equal or better grade. Can you find any auction results for the straight-graded ones? HA has only sold 3 "details" graded ones.

There was this piece (also Heritage) just a few months prior to the XF scratches piece. Strong detail, but the "J" side looks rather monkeyed-with:
https://coins.ha.com/itm/brazil/bra...ption-071515

Then this mid-grader from Sedwick a few years further back:
https://coins.ha.com/itm/brazil/bra...ption-071515

I don't know the market for Brazilian super well (I almost exclusively stick to the Spanish-speaking realm)... but Spanish Colonial and Latin American are still quite strong, as is most World material in general, so I doubt it's the overall Brazilian market.

I get the feeling that the market is paying for that jump in the amount of meat on the coin... However, I also think that $1200 piece went too high and the $192 piece definitely went low. As jgenn said, things can vary more when dealing with "problem" pieces.

Also, the (2) pieces originally posted each were in special Brazil/Portugal auctions. A further analysis of the overall Prices Realized in each of those aucs. by someone who knows that material well is warranted. Cherrypicking one specific type/date is not enough for a general statement.

@Sap Before TPGs were introduced onto the numismatic scene, did collectors hold any prejudice towards coins that would receive a "details" grade today like many US collectors do, or is this mostly a modern invention that's come about as a result of companies like PCGS, NGC, and ANACS put their "seal of approval" on coins? Obviously a damaged coin is a damaged coin (scratches, graffiti, environmental effect) and would sell at a lower price than an undamaged coin. But what about coins that have been cleaned, or have questionable toning? I've seen some coins that appeared totally fine prior to grading, but then came back with a "tooled" designation. For American buyers, the plastic label might detract some of the value from the original coin, but for non-American buyers, perhaps not so much. Is a scenario like this in the US largely a modern invention?

I don't have 40 years of coin collecting experience under my belt, so a lot of what I've learned about the hobby was through magazines, books, and websites, all of which have numerous advertisements from TPG companies on their front page or jacket covers.

I guess in other words, what I'm asking is how did the hobby change after TPG companies entered the scene?

I think there are too few examples to draw any kind of reasonable conclusion on this. We see only 6 sales in 10 years, half of which are "problem coins." I think that means it's a rare enough type than any particular listing could get a lot of attention (or not) based on factors that don;t show up in the numerical grade.

I think the list we've dredged up, from highest sale price (buyer premium stripped out) to lowest looks like this.

$1000 NGC XF Details (Heritage Aug, 2021)
$750 NGC VF-30 (Stack's Aug, 2013)
$550 "XF Altered surfaces/tooled" (Heritage May 2021)
$500 "aXF" (Sedwick, Dec, 2016)
$260 PCGS VF-35 (Stack's, Nov. 2022)
$160 NGC VF Details (Heritage, May, 2023)

One could argue the outlier is the old 2013 result, with everything else falling somewhat in line.

When I was in Hong Kong I saw some slab from Chinese companies. But mostly dealers traded in American slab. There have been coin valuation companies in Russia for several years, but none of these companies have gone beyond Russia. If it's interesting, I can post some photos. But to be honest, these companies are not developing. One of the companies I've been following hasn't opened a single new office in 5 years, I think it's a dead end.
Continuing the topic, I want to say that many are still skeptical about such a novelty as slab. Many people think that this way you only overpay for a coin. Dealers want to get more of my money, that's how an old-school collector thinks

In countries where slabs aren't popular, why is that? What are most collectors thinking when they find a coin that they have been looking for in a slab? Are they telling themselves, "Ugh, because of this plastic case, I'll have to pay more if I want that particular example, without it the price would be much less." Perhaps they see the grade as an arbitrary number that can inhibit a coin's potential value. "This piece really is VF, but because the graders think it's F, the value is somewhat inhibited." Is it seen as some businessman's hustle trying to create an unnecessary standard in their collecting sphere? "Collectors from previous generations never require slabs, so why should there suddenly be a need for them?" Perhaps some people see them as potential tools for institutions to regulate and monitor all coins that come up for sale, as photo technology advances and all coins ever imaged can be secured in a "data base" of some sort for easy search and check-ups? The places where slabs are popular obviously see the value in using them, whether it be to have their coins authenticated or to be confident in the condition their coin is in with the hope of selling them later. This is probably why its super serious when PCGS or NGC mis-grades a coin (the grading game) or encapsulates a counterfeit coin and claims it to be authentic, as I'm guessing it calls into question their reliability. I'm curious, what are collectors outside the US or in places where slabs aren't popular thinking when someone introduces a coin to them that's been TPGed?

If this piece was put on ebay, what would be an appropriate price to sell it for? After taxes and shipping, I'm guessing the total price would come to around $180ish? What price should the piece be listed on ebay for so that the seller has a decent return, after taxes and shipping costs?

@Sap is correct. I do not know about Brazil but people in Portugal do not care for slabs and their grades. Often they break coins out. I would if I added a slabbed portuguese coin to my collection. Foreign coins I would leave in the slab.

I have seen some portuguese coins, and so called colonial brazilian, minted for use in Portugal, horribly graded in slabs. The slabs also make it hard to examine details. Like the pattern engraved in the rim. Very important detail for many portuguese and brazilian 18th century coins.

I think the slabbed coins usually are returned under-graded for the expectation of the traders who sent them in. Tired or damaged dies seen as wear. Or the details thing for light cleanings.
But I recall a pinto in a recent auction in a slab graded as MS65 despite having been clipped. Someone familiar with the type and year could see that the size of the coin was wrong. The surfaces were beautiful but the cojn seemed mistreated. Pointed this out to the auction house but I could not prove it because the slab made it difficult to examine the rim. And impossible to accurately weight the coin. It is a very small coin.

There was a french slabber, GENI, that made it easier to examine the rim. But I only saw 2 or 3 coins in their slabs in years. NGC and PCGS slabs appear in every trader's stock but are only a small portion now. Then there is the horrible wait time when having a coin slabbed, 3 months I hear is common. No trader wants to have that added delay to its stock.

Both knowledge of the coins and swiftness would have to improve for slabs to become common here. I also think that in any country it is traders who drive any move towards slabbing coins. Not collectors.

Big differences in prices may happen because the market is shallow. Not many of us collectors. This may change if foreigners develop more interest in these coins. I hope they won't, it would drive prices up!