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 Replies: 11 / Views: 1,738 |
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Pillar of the Community
United States
7273 Posts |
We all have heard the wisdom that we shouldn't slab coins unless they are worth at least $150. The other common advice is that one shouldn't slab a coin if they can't make the money back. But I think we do a disservice to the members that are smart enough to follow the rules. The reason for that is when we tell members that we are depriving ourselves of great coins at a great price. For example the below ATB Quarter in Proof and in a nice slab cost me a whole $1...   THINK ABOUT IT  How can we get low priced coins otherwise? I'm not slabbing an ATB Quarter but some one else will and hence we can pick up nice coins cheap. Like this one for $3.95   Or this one for $5.19   So stop discouraging the noobies from slabbing coins they shouldn't! Think of your self first. Encourage everyone to slab what they shouldn't and enjoy the low prices. Legal Disclaimer NOT! This post is supposed to be funny, don't get your underwear all tight. If you don't want cheap slabbed coins, don't encourage the noobies   |
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Bedrock of the Community
United States
19111 Posts |
Interesting take, indeed.
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Valued Member
United States
232 Posts |
It could be similar to people sending in a 2020 (pick a random scrub baseball player) Topps regular edition card to PSA for grading. Personally I/we don't see the point but I'm sure they have their reasons.
That's probably part of the reason PSA is almost a year behind in grading and jacked up their prices. At least the last time I looked several months ago.
Like you said though, cheap graded coins for you!
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Pillar of the Community
United States
869 Posts |
Besides . . The grading company people have to eat too! |
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Pillar of the Community
 United States
7273 Posts |
Quote:
Besides . . The grading company people have to eat too! CORRECT and as long as you or I don't pay those fees, we are all GUCCI! Gucci is a new youngster slang good for good, but like super duper groovy good. |
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Pillar of the Community
 United States
5661 Posts |
Those were probably all bulk submissions by dealers trying for a few PR70s, then dumping the rest. But you're right, you can pick up some sharp looking graded coins at little more than face. I suspect you wouldn't want some of the ones submitted by noobs at any price!
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Moderator
 United States
187564 Posts |
It worked out for me when buying graded Ikes to complete that set.  |
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Bedrock of the Community
United States
19111 Posts |
Would be fun to have a seat in the PCGS lunchroom (if they have one) and listen-in on the stories told about stuff which comes in for grading.
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Pillar of the Community
United States
7273 Posts |
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Those were probably all bulk submissions by dealers trying for a few PR70s, then dumping the rest. I agree but it barely makes any sense to even try for PR70's when you can buy on auction a PR70 for around $20. Considering that the dealers probably paid $10 for each graded coin, there isn't much profit in it. Quote:
I suspect you wouldn't want some of the ones submitted by noobs at any price! Hey!! Which coin collection doesn't need a road rashed cent! I mean user error coin.  |
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Pillar of the Community
United States
7273 Posts |
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Would be fun to have a seat in the PCGS lunchroom (if they have one) and listen-in on the stories told about stuff which comes in for grading. I think those talks lead to this  |
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Bedrock of the Community
United States
19930 Posts |
A regular dealer at a local monthly show always has tubs of those. I think he runs the cheapslabs.com website - if it's still around. I've seen thousands of these slabs but I think a lot of it is dealers doing mass submissions going for 70's. The 69's and below are garbage to them. I remember a dealer years ago bragging he only paid $10 to grade a coin because he had a "contract" and submitted so many. He said "why not at that price?". I said "then you're stuck lugging all this inventory around forever - is it worth the back pain?" Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
3634 Posts |
I've appreciated the fact that so many low-value coins have been certified by some folks, as my U.S. type set is composed of only certified coins. Many of the recent modern issues I've picked up in NGC or PCGS slabs on ebay for under $10. I've always assumed those were from bulk submissions from dealers looking for the grade rarities, particularly for circulating issues. I guess even for the modern proofs, where a PF70 grade is very common, there may be some rationale for bulk submissions since a significant percentage will likely come back as a 70. And, no, I'll never get much for these particular coins if I ever sell them, but I won't lose much, either  . |
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Replies: 11 / Views: 1,738 |
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Posted 01/31/2022 2:18 pm
