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Originally Posted by Speedy I really don't agree where Bone says that you have to do it every year....I think he meant that more of a joke? 
You can learn to grade and be the best graders out there but sometimes when selling a coin a slab is worth alot more than your own word---people will buy coins sight un-seen if they are slabbed.
Speedy |
Well maybe not every year
But you know the standards change often depending on the series you collect and sometimes these changes are devestating to the collector who is also in it as an investment. True, the slabbed coin sells for more but it also costs more.
(These words are in stone. David Hall, PCGS)
"The Word is Out!!!
We've had a ten year honeymoon with the coin buying public, but we've betrayed their trust, and the word is out. The word is out in the financial planning community; in the hard money circuit; and to the coin investing public. Coin dealers are rip-off artists; the rare coin market is a trap.
For ten years, we've sold coins to the coin buying public as MS-65, only to tell them that the grading standards had changed and their coins graded MS-63 when it was time for them to sell.
For ten years, we've told them that rare coin prices have gone up and up and up and up, only to tell them that the buyers bidding those higher prices were very fussy, very selective, sight-seen buyers who bought only the coins that they liked and not the coins that the public owned.
For five years, we've supplied the telemarketers who have pounded the coin-buying public with Salomon Brothers fantasies while [selling them] viciously overgraded coins.
We are currently paying the consequences of the abuses of the past ten years. And frankly, we deserve it!"
David Hall, dealer and a principal in the Professional Coin Grading Service What he's saying in a nutshell is Your $600 MS-65 coin is now a $250 MS-63 coin...
Ben
