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 Replies: 15 / Views: 1,671 |
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Pillar of the Community
United States
1151 Posts |
Quote:
From Nelrak from a different post about his 1909 S VDB
It's slabbed by PCGS, I would never buy a coin over $500 that wasn't slabbed especailly the way China is starting to penetrate the coin market these days! I thought this was a very good point. I normally do not buy slabbed coins, but if it were a key, I surely would. The question is, what dollar amount would you set before you bought a coin, key or not, in a slab if you normally do not buy slabbed coins.
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Pillar of the Community
United States
812 Posts |
That would depend. If I were purchasing on ebay, flea market, etc I'd begin to get nervous over $100 and would not buy a non-slabbed coin over $200. If I were purchasing from one of the dealers I've grown to trust over the years, I would not worry about the slab till it hit $1000 (theoretically, since I've never purchased a 4-figure coin; my pockets are sadly not very deep). Even trust-worthy dealers can be mistaken. |
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Pillar of the Community
United States
1116 Posts |
i start looking to buy slabbed at about $50.00 on ebay I know that is kind of low but if I am spending money on coins on ebay I prefer not to get ripped off at all no matter what the amount. but now I am worried to buy even slabbed coins because they fake those as well. you have to check the coin in the slab to make sure it is real. i have only been collecting for 10 years but I remember when they use to say you can by slabbed coins with out even seeing the coins because you knew what you were going to get. not no more you don't |
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Pillar of the Community
United States
608 Posts |
But who's to say China is not making slabs also. How to you verify the slab before buying?
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Bedrock of the Community
United States
20753 Posts |
Quote:
But who's to say China is not making slabs also. How to you verify the slab before buying?
Yes they aleady are counterfeiting slabs and the coins inside them. And if you really think your safe if the coin is slabbed, try this. Go to Google and type in Coin Grading Services. I think the last time I looked there was close to 100 of them. And that is the ones that Google knows about. And just what makes a grading service and/or a slabbed coin? Why anyone with a piece of plastic of coures. |
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Moderator
 United States
16679 Posts |
As a general rule, I usually purchase only PCGS,NGC,or ANACS graded coins in the G-VF levels. Most of the Chinese counterfeits are PCGS only and higher grades. There are also particular series being counterfeited as of right now. I have not seen NGC or ANACS counterfeits as of yet but, I could be wrong. As for ebay and it's track record, I would only buy from reputable sellers who offer an authenticity guarantee and a return privilege. If not, move on. Only buy in the USA. swcoin.ecrater.com
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Bedrock of the Community
United States
10982 Posts |
I've bought a lot of 1 oz. gold coins that were $800 to $1,000 raw. They were really bullion purchases though and easily identified as genuine.
Coins over $200 that are priced on numismatic value only should be slabbed for me to buy them. I've bought a couple $300 to $500 pieces raw and I won't do it again any time soon. Too much downside when I part with a coin I paid $400 for only to find out it's worth $200 or less.
It's all a learning experience and I love coins but a particular affection for cash also.
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Valued Member
United States
55 Posts |
I generally try to buy all of my error coins slabbed. I too want to make sure the grading is what it seems. I've bought a few that the sellers claimed to be graded a 65,only to find they are not that at all. As for the counter fitting, I too try to support local shops or ebay members I have dealt with before before making my larger purchases. |
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Moderator
Australia
16827 Posts |
I've never bought a slabbed coin, and don't plan to. I'd never trust a slabbed coin to be authentic or even properly graded, just because it's in a slab. Slabbers make mistakes too, and the fakemasters of China can make any coin you wish, in any kind of slab you wish.
I'd rather trust experienced and established dealers who stand behind their coins with a lifetime guarantee of authenticity.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Member
United States
917 Posts |
Is there an area here on the forum where we can view examples of these fake slabs ? I'm particularly worried to see PCGS named as one widely faked.Most of my slabbed are NGC but lately I've aquired one or two PCGS here and there. Whats the most popular fake these days ? I was putting together 50 silver pf69 State Quarters , are these popular fakes ? Thanks |
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Moderator
Australia
16827 Posts |
This thread has quite a bit of discussion about them, as well as examples from ebay and links to articles elsewhere written about them. I don't think the fakers are making many ultra-modern US coins like silver State Quarters yet... they're too busy making fake classic coins. But I have seen fake modern Australian coins, so you never know.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Rest in Peace
Australia
661 Posts |
Good point Sap.
If you cannot trust a friend from overseas to sell you a good coin,
you may as well stop collecting foreign coins..
I think Vermontensium's comment is a bit heavy, unless you only want USA coins.
Personally, from an Aussies point of view, I know about 40 people in America that I would buy coins from.
regards, muckeye.
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Pillar of the Community
United States
1055 Posts |
The bottom line is just to be careful, for many people out there it is un-realistic to only buy from a local dealer when there is one 200 square foot coin shop in the county and the next closest is 3 hours away. I buy coins from ebay, I am also careful of who I buy from, take a good look at the pics, feedback (not the numbers but the comments left by seller to negative snf neutral feedbacks). There are many reputable dealers selling authentic high quality coins on ebay. The trick is to find them. I would be nervous to buy a coin even for $50 that was not certified on ebay. There are too many people selling on there that have no clue what their "AU50" grade means!  I have bought many certified coins on ebay and all have been a good sale. I only buy PCGS,NGC, ANACS,. I will also look at ICG if I think the coin could crossover well. Some of the copy makers may not be bad people at all. I have seen sellers on ebay have over 1000 different copied coins, all marked COPY and advertised as such, there is nothing dishonest about this. The best advice I can give is to be careful and know what you are doing. The best idea isn't always a local coin shop as I have paid way too much for what I got on a couple occasions. There are honest people out there on the internet and dishonest people running coin shops. In the end you are spending your money. |
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Bedrock of the Community
United States
14454 Posts |
I have bought 2 and 3 thousand dollar coins raw from dealers I trust but if from ebay or somewhere else I am not sure about I usually go for a slab if I am not very familiar with the series of coin I am purchasing and even then I usually stick to the top 4 grading companies for grading so atleast there is some type of guarantee, because if I am not very good with the series I am probably not very good at grading them either |
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Member
United States
917 Posts |
That was interesting Sap,thank you
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Bedrock of the Community
United States
20753 Posts |
Quote:
I've never bought a slabbed coin, and don't plan to. I'd never trust a slabbed coin to be authentic or even properly graded, just because it's in a slab. Slabbers make mistakes too, and the fakemasters of China can make any coin you wish, in any kind of slab you wish.
I'd rather trust experienced and established dealers who stand behind their coins with a lifetime guarantee of authenticity.
You are aware that with that kind of attitude countries like China could start having monitary problems. their factories, organizations, companies over there are becoming dependant on making coins and those plastic holders. Then too the little stickers that look like PCGS or NGC. Then too there are the ones that know how to pry open a real slab and replace the coins in them. They too could start going out of buisness. What I really wonder some times is how many people with coins in slabs really have couterfeit coins and/or slabs and think they have the real things. Possibly there will soon be a TPGS for slabbed coins but called a TPSS or Third Party Slab Service. So now you send in your slabs to have them authenticated. |
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Replies: 15 / Views: 1,671 |
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Posted 06/15/2009 8:05 pm
