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 Replies: 14 / Views: 4,361 |
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New Member
United States
22 Posts |
Ok new guy here. I've heard plenty of criticism about coin slabs. Mainly because the grading is very subjective between companies and it's easier to grade your self. What else is a pitfall to the slabs, and then how do you get the full value of your coin when you want to sell it and the person you're selling it to has no idea how to grade and only goes by slab gradings?
also since most everyone is against slab gradings then why are these companies still around?
***Edited by Forum Dad to split from "Opening a tomb" topic.***
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Bedrock of the Community
United States
17884 Posts |
Many of the people who are against the slabbing are people who either know how to grade or just don't care about the grading services opinion be cause they are goin to look at the coin and buy it based on their own evaluation anyway. We don't see any reason to spend $15 to $30 per coin for someone else to tell us something we already know or will know after looking at the coin.
The services survive because there ARE a lot of people out there who can't, won't, or have not yet learned to grade but who want to jump in and spend large sums of money on things they don't understand. These people want/need the services opinions for a safety net. They will not buy without it. And since it is easier to sell something to someone who doesn't know what they are buying than someone who does, dealers keep the slabbers in business, and collectors do as well because they can sell the coins to the dealers more readily (Since now the dealer doesn't have to go through the trouble of getting it slabbed for the next end customer.) That is why even many collectors who don't like slabs will have their coins slabbed before selling them. Just makes them more saleable to a dealer looking for a fast flip. (If the dealer has to send them in it ties up money in inventory, sometimes for long periods. Also it requires the investment of extra capital in slabbing fees. Plus sometimes things have to be submitted more than once. If the collector has already taken care of that problem it makes it easier on the dealer, less expense and overhead, and he can offer more for the coins.)
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Bedrock of the Community
United States
14454 Posts |
I am one who is definately for the top 4 TPG's especially for the new collector and not necessarily because of their grading ability but for their ability to tell a counterfeit coin from a real one (in other words authentication). There are some key date coins and some whole series of coins that I wouldn't buy myself without them being atleast authenticated by one of the top 4 grading companies and that is just because there are so many fakes out there that even if you are comparing coin to coin you may be comparing two fakes made from the same dies/molds. |
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New Member
United States
22 Posts |
slabs are a great way to protect your investment, however one must aware of who is doing the slabbing. any one can do it, unfortunately there are too many doing it. I learned this from a friend who works at the mint and introduced me to coin collecting, knowing this when I first started helped save me from these thieves who prey upon the newbies. my collection only includes icg, ncg and pcgs certified coins, I do buy raw coins to send to be graded and I do prefer icg over the above mentioned
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Pillar of the Community
United States
2254 Posts |
quote:
my collection only includes icg, ncg and pcgs certified coins
I'm 99% sure you meant NGC. There are so many alphabet slabbers out there, there is no doubt someone is using NCG to try to get money out of people not paying attention. Just wanted to clarify for the newer collectors.  Oh, and where are my manners, welcome to the forum. |
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New Member
 United States
22 Posts |
Ok since we're talking about slabs I had seen a magazine (yes I know how you guys feel about those and shop at home TV) But they were offering First Day Issue "Brilliant Uncirculated" Presidential coins for only $1 and no shipping costs. The coins are a little scratched, but hey I only payed a dollar for a first day issue slabbed coin and got both Jefferson's P&D at that! what say you?
additionally I noticed some rough spots around the outer edge where the two pieces are fused together they are NGC slabs. Is this common?
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Pillar of the Community
United States
1231 Posts |
I'm not a huge fan of TPG's. You can buy a slabbed coin today in MS65 and 5 to 10 years from now you could re submit it and get a MS67. The First day issue of First minting is a gimmick to me. Population reports are flawed from resubmissions. Unless you own a coin that is Pop 1. As for counterfiets, don't always count on the TPG's to be accurate. Take the 1896,1900 and 1902 Micro-O Morgan dollars, the leading TPG's all slabbed these coins as real and then years later learn that they were fakes. I know PCGS reimbursed people for their coin, not sure if the other TPG's did. To me ICG is too far in bed with the TV hucksters to be of value to me. They sure seem to be putting out a lot of MS70 and PRF70 coins. Makes me wonder if they are trying to catch up with the quanity SGS grades at 70 |
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Pillar of the Community
United States
2254 Posts |
quote:
To me ICG is too far in bed with the TV hucksters to be of value to me.
Shop at home TV is all NGC.  Or at least a very large percentage. |
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Pillar of the Community
United States
1231 Posts |
HSN-Home Shopping Network sells coins only slabbed by ICG as far as I can tell.
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Bedrock of the Community
United States
14454 Posts |
quote:
they were offering First Day Issue "Brilliant Uncirculated" Presidential coins for only $1 and no shipping costs. The coins are a little scratched, but hey I only payed a dollar for a first day issue slabbed coin and got both Jefferson's P&D at that! what say you?
I don't see anything wrong with this at all, you only paid face value for the coins which is what you would have had to pay at any bank anyhow so I don't see anything at all wrong with this offer |
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New Member
United States
22 Posts |
quote:
To me ICG is too far in bed with the TV hucksters to be of value to me.
quote:
Shop at home TV is all NGC. Or at least a very large percentage.
I just seen on shop at home TV a couple days ago, nothing but PCGS |
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Bedrock of the Community
United States
14454 Posts |
I agree most shop at home networks use NGC allot more than ICG
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Member
United States
3242 Posts |
HSN&Shop at home are great comedy's
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Pillar of the Community
United States
1231 Posts |
Here is an example of how ICG is too far in bed with the TV hucksters. Just on HSN they were offering 2007 ICG PRF70 Golden Dollars sets. All 4 Presidents and The SAC all in PRF70. How many sets available......800!!
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Bedrock of the Community
United States
17884 Posts |
quote:
There are so many alphabet slabbers out there, there is no doubt someone is using NCG to try to get money out of people not paying attention.
Actually I believe there have been three different companies that have used NCG, one of which I believe is still active. quote:
As for counterfiets, don't always count on the TPG's to be accurate. Take the 1896,1900 and 1902 Micro-O Morgan dollars, the leading TPG's all slabbed these coins as real and then years later learn that they were fakes. I know PCGS reimbursed people for their coin, not sure if the other TPG's did.
PCGS, NGC and ANACS all offered to buy back all of the fake micro O dollars in their holders. That was rather expensive for PCGS and ANACS, each of which had quite a few pieces in their slabs. NGC only had eight coins in their slabs because after slabbing those eight they decided back in 1998 that the coins were fake and stopped slabbing them. PCGS and ANACS continued slabbing them for another seven years. The only reason PCGS figured it out was because someone who had been hoarding them (raw) sent his hoard in for slabbing and with a large number available they were able to determine they were fake. Now today the fakes that didn't get turned in are more valuable than ever. The services have also had other examples of counterfeits, sometimes known counterfeits, that they have slabbed. |
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Replies: 14 / Views: 4,361 |
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Posted 10/26/2007 4:10 pm
