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 Replies: 7 / Views: 2,286 |
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Pillar of the Community
United Kingdom
2133 Posts |
I'm unfamiliar with the concept of slabbed coins, though I've seen the definition in the glossary.
I've never seen a slabbed coin.
1. Does the process of slabbing damage the coins ?
2. Can the slabs be opened, for example, to take the coin out and weigh it, inspect it more closely ?
3. Can one buy empty slabs, and if so, where ?
4. How do people who buy slabbed coins make sure they are genuine and not forgeries ?
Forgive me, please, if this is the wrong place to post this.
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Pillar of the Community
United States
4846 Posts |
1. no
2. yes, but it can not be put back in.
3. yes, (forgot where though)
4. certain things are not the same on slabs
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Valued Member
United States
299 Posts |
There are large outfits with long history that have developed some trust and legitimacy.
Google up PCGS and look at the video online they have demonstrating how they claim to handle this for a bit of background.
Some more or less well trusted grading companies ( also called third party graders) are PCGS, ANACS, ICG, and NGC.
Most of the others are what is knwn as basement slabers. They tend to be guys who create their own labels and are generally over-graded by the same guy or company that is willing to part with them for higher dollars than they are actually worth.
Keep in mind that a slabbed coin is simply a coin that is protected from damage and has been graded by someone with an opinion.
Some have good and verifiable expert opinions, and some have opinions that stink.
You can take a coin out of a slab, but not put it back in. only do that with a coin you plan to keep, or one3 that is from a basenent slabber. If you have any thought of re-selling it,you have de-valued the coin by throwing away the opinion of a quality grader.
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Moderator
 Australia
16806 Posts |
1. Usually not. Slabbers are human, too, and just as prone to dropping or damaging coins in their care as you are. There's a small but non-zero chance of the coin being damaged during either the grading or slabbing stage of the process. They will usually admit to such damage and reimburse you for it, since getting caught trying to "pull a fast one" isn't worth the hit they'd take to their reputation. ICG's early attempts a slabbing ancients caused the slabs to buckle and crack, but this was more damage to the slab than to the coin inside it. 2. Yes, with great difficulty. The two halves of the slab shell are sonically sealed. The act of "cracking a slab" usually destroys the slab. They're deliberately designed such that any attempt at cracking open then resealing a slab is supposed to leave telltale signs. 3. You can buy "slab-sized" coin holders from Coin World or other suppliers, but not actual empty slabs. The plastic and sonic sealing techniques the slabbers use are trade secrets. 4. I believe the technique most slab owners use to authenticate the coins in their slabs is called "blind faith" in the slabbing company itself not to make a mistake. Once a coin is in a slab it's grade and authenticity are usually considered beyond question. As counterfeit slabs from China become more and more common, slab owners and dealers have to learn how to tell counterfeit slabs from genuine articles. Personally, I'd rather spend my time learning how to tell counterfeit coins from genuine articles, but that's just me. 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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Bedrock of the Community
United States
20753 Posts |
You can see them on ebay or many other coin web sites. And as to opening them. At a coin show a dealer I know loves to show peopel a slab he opened up, replaced the coin inside with something completely different, resealed it and just for fun. He shows it to people he knows well and dares them to figure out how he did it since any inspection does not show dampering. It's been done many times by people that know how. And of course there are thoes faked slabs from China with faked coins inside. Organizations that make slabs. So how do you know it's the real thing? I have no idea. |
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Valued Member
United States
450 Posts |
I believe there are some grading Companies that offer a guarantee if your coin tones or is otherwise damaged after they have slabbed it ?
Anyone else heard this ?
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Moderator
Australia
16806 Posts |
Yes, it's effectively part of the "grade guarantee" that the coin will remain for eternity in the condition stated on the slab. The only toning they won't guarantee against is red copper; For PCGS (since the start of this year), the browning of red copper is now considered "environmental damage" under their list of exemptions. PCGS Guarantee page. NGC only guarantees the colour of copper for 10 years; NGC Guarantee page. However, if the company believes that the toning or damage is the result of a deliberate act to attempt to alter the coin's appearance while still inside the slab (eg. by giving the slab a sodium sulfide bath) then the guarantee is void; both companies have an "anti-tampering" escape clause. 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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Bedrock of the Community
United States
20753 Posts |
Quote:
4. How do people who buy slabbed coins make sure they are genuine and not forgeries ?
The more I think about that question, the more scared I get wondering just how many faked coins are in either real or fake slabs. Now think about this. You go to a coin show and there are 80 or more dealers. Some even have 2 or 3 tables of coins. About 40% to 50% and sometimges more are in slabs from the possibly close to or over 100 TPGS's now out there. How many new or close to new collectors are impressed with a coin they always wanted and there it is in a slab so they know it's OK. How many even long time collectors just don't know a faked coin when the see one anyway. Then the dealer tells you it will cost more since it is in a slab. Now it's taken home, the slab is broken open, the coin is put in an Album and stays there until the end of the Earth. Ever wonder how many coins you too may have that are fakes and you don't know. Think I'll go back and closely inspect my complete roll of 1913 Liberty Head Nickels. Same with my rolls of 1894S Liberty Head Dimes.  |
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Replies: 7 / Views: 2,286 |
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Posted 08/27/2010 9:22 pm
