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 Replies: 24 / Views: 3,488 |
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Valued Member
United States
70 Posts |
Any thoughts on why a dealer sells only raw coins? Coin Depot is South Carolina seems to be a big one, advertising in Coin World a full page every week. Why would a dealer do that? Are they trying to pull something off, or is there another reason? |
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Pillar of the Community
 Canada
5394 Posts |
Pick up the phone and call them. There are still lots of old fashioned coin dealers left in the world that sell raw coins. Probably nothing nefarious. Especially if they have advertising privileges in Coin World. |
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Pillar of the Community
United States
604 Posts |
Raw coins take up less space than ones in a slab. I personally prefer to buy my coins raw and maybe this dealer has a customer base with the same preference.
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Pillar of the Community
 United States
1949 Posts |
There are many dealers who only deal in raw pieces... My favorite coin shop had exactly 1 graded piece last time I was there, and it was a modern Eagle someone had traded in...
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CCF Advertiser
United States
1533 Posts |
It allows for a dealer to buy a coin that is VF-35 and buy it for VF bid and sell it for XF bid, something you used to be able to make a living doing, but no longer can with slabs. It also lets you sell coins below $100 for what they are really worth rather than the slab cost inflated price people are paying. A lot of cleaned coins that would grade details are sold raw as well.
I'm not the biggest fan of slabs, but it is a reality of coin collecting now that anything above a few hundred bucks is going to be in a slab and if you eschew slabs, you cut yourself out of most of the best coins in any series.
There are some old time dealers that have not moved into the 21st century and still have print ads without pictures or websites that look like a catalog with no scans. Its only a matter of time before they all die off though.
Edited by Andrew99
08/25/2016 09:43 am
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Pillar of the Community
United States
1211 Posts |
Andrew hit the nail on the head with his explanation.
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Pillar of the Community
United States
968 Posts |
It wouldn't surprise me if there was a bit of the mentality of "I've been doing this forever and know just as much as a TPG grader on how to grade and detect counterfeits". That may well be true, but they probably don't understand that most of the collecting world has come to see slabbed coins as being guaranteed to be what it claims it is in a way raw coins aren't. |
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Moderator
United States
188213 Posts |
Quote:It wouldn't surprise me if there was a bit of the mentality of "I've been doing this forever and know just as much as a TPG grader on how to grade and detect counterfeits". That may well be true, but they probably don't understand that most of the collecting world has come to see slabbed coins as being guaranteed to be what it claims it is in a way raw coins aren't. I agree with the first part, for sure. I may be wrong, but it could be that these dealers have a solid enough reputation, at least among their customer base. They see no need to get something slabbed when their regular customers expect to have it at the same price and/or will be cracking them anyway. |
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Pillar of the Community
United States
666 Posts |
Quote:
...these dealers have a solid enough reputation, at least among their customer base. That is the case for my local coin store. The owner has been in the business for 40 years; he grades conservatively; and prices fairly (usually pretty close to NumisMedia FMV [Fair Market Value]). He does not sell on the Internet. Edited by dd27
08/25/2016 3:46 pm
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Bedrock of the Community
United States
20753 Posts |
For the average coin there is no reason to have them slabbed. And a slab cost money, takes up space and in many instances the buyers just break the coins out anyway.
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Pillar of the Community
United States
968 Posts |
Jbuck,
I agree mostly with you. What I am referring to is the general direction of the hobby where more and more slabbed coins are the standard. Someone with a loyal customer base can definitely make a living not doing that for now, but I think those buyers will become fewer and fewer as time goes on. Probably long enough from now that the old timers will make due.
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CCF Advertiser
United States
1533 Posts |
Saruma, I know several of them. Its not that they don't realize. They just don't care. They cater to collectors of things like large cent, capped bust half, or bust dime varieties who are very sophisticated and have no need for an opinion of the grade of a coin. Most variety collectors are pretty old themselves. Maybe the sophisticated collector will die out as well in 30 years.
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Moderator
United States
188213 Posts |
Quote:
What I am referring to is the general direction of the hobby where more and more slabbed coins are the standard. Someone with a loyal customer base can definitely make a living not doing that for now, but I think those buyers will become fewer and fewer as time goes on. Probably long enough from now that the old timers will make due. Yes, with that I do agree. They will probably pass on or retire before it really affects them. |
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Bedrock of the Community
United States
94367 Posts |
My LCS has very few slabs out for sale, yet does a big business in submitting to TPG for us (his customers) and himself. He has told me that he typically trades/sells his own slabs to other traveling dealers or at shows because he understands that his shop needs to be "unpretentious and friendly" for most of his collector customers. If you want to see slabs for sale and he trusts you, he takes you back to his office. |
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Bedrock of the Community
Australia
21786 Posts |
Raw coin only dealers: the best sort! That's for me anyway.  I like to see the coin sitting in the palm of my hand before deciding to buy. Museums know how to store and display coins. In the British Museum, NONE of their coins are slabbed. That's hundreds of millions (perhaps billions in total value) of Pounds in numismatic value. I admit that my coins are in cardboard / Mylar 2x2's, (mainly for description and attribution purposes, in archival quality albums. TPG slabbing best left for ebay sales of less than $100 by private sellers, mainly for fair grading and authenticity purposes. |
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Pillar of the Community
United States
1308 Posts |
I don't even know how to respond to this original post, guess I'll just leave it alone.
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Replies: 24 / Views: 3,488 |
Posted 08/25/2016 07:53 am
