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 Replies: 33 / Views: 3,573 |
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Pillar of the Community
United States
2200 Posts |
I have never bought a slabbed coin. I'm perfectly content buying what I think is an appealing raw coin, whether it's because it looks pretty or because the price is very right (or both). I understand the added appeal of a slabbed coin: it's been examined and certified--like a used car--but for me, that takes away from the mystique. A slabbed coin feels more like a museum piece, like it doesn't really belong to me, as if it were on loan from someplace. I think part of this harkens back to the old adage: Buy the coin, not the holder. Not to disparage TPG, of course. But it's not important to me. (I guess these feelings may stem from when I began collecting in the early 1970s--slabs and TPG didn't exist then.) Short version: if the coin looks good, that's good enough for me! Your thoughts. |
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Pillar of the Community
United States
5825 Posts |
In general I can grade coins. But where I lack knowledge is "authentication" and "originality". You may ask why I don't learn how to cover those two areas? Easy answer. My primary collection is a US Type Set, 1793-1964. That's well over 100 different designs/variations. Gaining expertise for each issue is not possible for me. I have to depend upon the TPG's for help there. |
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Pillar of the Community
United States
8715 Posts |
When you eventually purchase some coins of high value, you will understand the need to purchase a slabbed coin. Counterfeits have become more common today than before the TPGs started. Fakes have also become harder to detect. For example, read about the "superfake" 1884-S Morgan dollar. Would you be able to tell it apart from a real one? It sometimes is also difficult to detect surface originality. For example, a coin may be tooled or altered, but it is difficult to tell unless you know what to look for. |
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Pillar of the Community
United States
987 Posts |
Quote:
I have never bought a slabbed coin. I'm perfectly content buying what I think is an appealing raw coin, whether it's because it looks pretty or because the price is very right (or both). Neither have I. I started up collecting again a few years ago. I joined CCF earlier this year with the stated purpose of becoming a better collector. So I plan on starting to slab some of my existing and future coins. Why? Because part of my quality over quantity approach is cherry picking raw coins I love, mostly at my LCS. Some of these would fetch a good premium and when I'm gone I want my kids to be able to maximize their money. For example, I love lowballs. I know that the collectors who build registry sets, or who just insist on problem free examples, only pay a real premium if a TPG has determined it to be problem free, not a details coin, etc. Of course this is not for all my coins. That would not be smart nor feasible. I also have been setting aside a few nice examples of cents through quarters each of the last few years when they first appear in my change. I have seen some very low priced high grade modern clad coins in slabs- I guess they're the rejects of massive group submissions. I am currently looking for a good vendor for some of these as, from what I have seen, they are often much nicer than my examples from circulation. I recently just made my first online purchase ever. Bought a coin raw from a respected dealer. When it arrives I will get a feel for how I like that process. There are some good dealers who sell mostly raw, and those can also be cherry picked in a way not available through my LCS. And since these are higher priced, some might have much higher resale premiums in a slab. Again, my own due diligence will keep me from wasting money on unnecessary grading fees. I think I will be posting pics on CCF before I send anything. Anyways, hope this helps or spurs on some thought. Thanks for posing this question and thank you for everyone who answers-it really helps out less experienced collectors such as myself Edited to do the quotation correctly Edited by thisistheshow
03/09/2018 10:02 am
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Rest in Peace
United States
18456 Posts |
jpsned > I agree with most of your thoughts about TPG Slabs . I've been collecting coins for 50+ years and I think I have only 4 slabbed coins of which 3 were given to me . I love raw coins , with classic coins you can smell the history in them . Slabbed coins just don't give you that sense of feeling . Being that I'm not a collector of rare coins, not having my coins authenticated by TPG does not bother me . Besides after 50+ years you have the experience ( somewhat )of grading your own coins .  |
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Bedrock of the Community
United States
20753 Posts |
I have no slabbed coins. I have purchased some in the past but then broke out the coin for Album usage. And I've bought some really great raw coins too. For example I've bought several 1913 Liberty Head Nickels raw and for a decent price too. Then there is that roll of 1894S Liberty Head Dimes I got for a decent price too. And all in Unc condition. A few years ago I purchased a 1916D Mercury dime raw in about MS-62 for $5.00 at a local flea market. I've always wondered what happened to that seller. He sold lots of those and then vanished. The only real problem with buying raw coins is the vast amount of counterfeits now present. |
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Pillar of the Community
United States
1326 Posts |
I generally don't spend too much on a single coin, so "raw vs. slabbed" is usually a moot point. I like my coins in flips that I can put in a looseleaf binder. On the other hand I have gotten stuck with a few forgeries, and now have more of an appreciation for authenticated/slabbed coins.
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Pillar of the Community
United States
8715 Posts |
Quote:For example I've bought several 1913 Liberty Head Nickels raw and for a decent price too. Then there is that roll of 1894S Liberty Head Dimes I got for a decent price too. And all in Unc condition. A few years ago I purchased a 1916D Mercury dime raw in about MS-62 for $5.00 at a local flea market. I've always wondered what happened to that seller. He sold lots of those and then vanished.  |
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Rest in Peace
United States
10625 Posts |
I've purchased many TPG graded coins. The plastic case is not what sold me, it has always been the coin. I guess what I'm saying is I don't pass over coins just because they have been graded, they need a good home as well.  |
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Bedrock of the Community
13014 Posts |
Quote:Counterfeits have become more common today than before the TPGs started. Fakes have also become harder to detect. For example, read about the "superfake" 1884-S Morgan dollar. Would you be able to tell it apart from a real one? It sometimes is also difficult to detect surface originality. For example, a coin may be tooled or altered, but it is difficult to tell unless you know what to look for. This. Plus at this point if someone ignores slabs they're basically shutting off a large percentage of the best coins from themselves. |
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Pillar of the Community
United States
1627 Posts |
Of the series I collect, I insist on a TPG graded coin on only the proof Indian cents. Any others I will happily buy raw or certified, as long as the coin and price is to my liking. |
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Moderator
 United States
188052 Posts |
I have always preferred raw, but I have been building a graded Ike set to compliment the one in my Dansco. It is just something to do now that I am down to just eight rather expensive holes in the Dansco albums. During this journey I have become more comfortable with graded coins and feel less determined to fill those eight holes with raw examples. It has greatly expanded my choices.
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Bedrock of the Community
Australia
21786 Posts |
I have never bought a slabbed coin, either.
That is over a serious hobby interest period, that has extended for much more than 40 years.
As a result, I have forced myself to build experience and confidence in grading for my own benefit. I much prefer to grade my own coins, using TPGraders' methods. That means close examination in hand, with the assistance of a 10 X loupe.
My more valuable coins have come via public auction, and I ignore the auction lot describers' opinions, even if I expect them to be right.
I have never had to bother with the annoyance of displaying a mixture of slabbed coins, and coins in 2x2's.
2x2s have the advantage of carrying the complete written details of acquisition and attribution, attached to the coin. Can't do that with slabs.
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Pillar of the Community
United States
9395 Posts |
All expensive coins I buy from random dealers need to be slabbed, and the NGC or PCGS website needs to have a picture of the coin. The pictures need to match, of course. The TPGs aren't that good at detecting really good fakes, and many get certified, but they're a lot better at it than I am. I sometimes buy expensive unslabbed stuff from reputable places like the US Mint or (in the 1970s) the GSA. I've also bought expensive unslabbed gold bullion coins at spot + some % from places like APMEX. |
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Bedrock of the Community
13014 Posts |
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The TPGs aren't that good at detecting really good fakes, and many get certified, That's not true at all. They are that good at detecting even the really good ones, its very rare for something to slip through |
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Bedrock of the Community
Australia
21786 Posts |
I would tend to agree with that.
TPGraders get to see lots of coins. The graders themselves specialize on only one or two particular types, and so by experience, would easily spot something that is even slightly suspicious.
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Replies: 33 / Views: 3,573 |
Posted 03/09/2018 09:17 am
