How do you get the wholesale price for a slabbed coin?

hhearst · 04-20-2004, 10:02 AM

Hi Folks,

I recently acquired some slabbed coins. I have never had any of these before. Though it makes figuring out the grade easy, figuring out the price is a little tricky. I have the greysheet and I am wondering if a slabbed coin (from a wholesale price) has any effect on the price. For instance, I have a slabbed MS65 1948 GW quarter. The wholesale bid price for this coins would be $30. Does the fact that it is slabbed change this price? Or is an MS65 just an MS65.

Best Regards,
Hal

National dealer · 04-20-2004, 01:53 PM

Well some people use the bluesheet for graded coins. Sometimes it is more, sometimes it is less. Personally, our firm only uses the greysheet. So the slab would not make a difference in our buy or sell price.
Not withstanding it is a good grading service

**Speedy** · 04-20-2004, 06:13 PM

What grading company graded the coins???

Speedy

**GDJMSP** · 04-20-2004, 10:12 PM

Speedy asked a good question - it makes a huge difference in price as to which grading company slabbed the coins.

But to answer your question - if you are talking to a dealer or a knowledgeable collector face to face and they can see the coin themselves and make a judgement about it - then no, in usually does not matter if the coin is slabbed or not. If it is a genuine MS65 coin - they will know it and likely offer a fair price. Now this is assuming of course that the dealer or the collector doing the buying is honorable and trustworthy. Not all of them are.

Where it makes a difference is if you are trying to sell your coin to someone who cannot see it for themselves, hold it in their hand and form their own opinion of the grade. Then the coin being slabbed by one of the reputable grading companies makes a huge difference. For these buyers do not know you - they don't know what your grading ability is or if you are honest and trustworthy yourself. All they know is what you tell them. But if the coin is slabbed - then they have the opinion of the grading company to go by and decide if the coin is worth what you are asking. That's why it matters which grading company it is.

Dealers and knowledgeable collectors know how they all grade coins. They know that not all MS65 coins are not equal just because they are in a slab. What one company calls MS65 may really only be MS63 or even MS62. While what another calls MS65 - likely is MS65.

hhearst · 04-21-2004, 05:25 PM

Thanks for the replies. The coins are in slabs from various companies. Most of them are NGC, followed by PCGS, followed by PCI. One is slabbed by a company called Tru Grade Service. I think the first 3 are reputable, but I have never heard of Tru Grade.

Now, I am a grading novice, so it is nice for me to see some examples of what "experts" say a particular grade is. Basically, I cannot grade beyond "Redbook" descriptions. "BU" is the highest I would ever try to grade anything. But, some of these are particular head scratchers. Some of the Franklins slabbed by NCG are some of the ugliest MS65's I have ever seen.

So, from what I gather, a slabbed coin does not really increase the value but it can make the coin more marketable and therefore perhaps more valuable.

Personally, I do not like the slabs. The are bulky and (to me) take away some of the joy of holding the coin. I mean, if a coin is really expensive, them I can see slabbing them. But, none of these coins are expensive. $30 at most. I have no idea why someone slabbed them. Maybe they were hoping for a higher grade and therefore higher value.

Best Regards,
- Hal

**Speedy** · 04-21-2004, 06:02 PM

Hal
I would trust the grades that NGC and PCGS gave--but PCI and Tru Grade I would not.

Can you put a few photos on?????

I know what you mean an ugly high grade coins.

I bet the ugly coins are in a PCI or Tru Grade holder--am I right????

So, from what I gather, a slabbed coin does not really increase the value but it can make the coin more marketable and therefore perhaps more valuable.

Right on!!!!

Personally, I do not like the slabs. The are bulky and (to me) take away some of the joy of holding the coin. I mean, if a coin is really expensive, them I can see slabbing them. But, none of these coins are expensive. $30 at most. I have no idea why someone slabbed them. Maybe they were hoping for a higher grade and therefore higher value.

Right on---Some guys will send a coin in over and over again to get a better grade......Sometimes one grade more will mean thousands of dollars more.

Speedy

National dealer · 04-21-2004, 08:48 PM

Hey there speedy, I am one of those guys who resubmit often. You are right, sometimes one number can make a huge difference. I honestly believe that the top three grading services do their best. I have met a number of graders over the years and I have a great respect for their efforts.
Now as far as PCI goes, I will use them at shows for quick turn around times when authenticity is needed. They are a little lax in their grading overall. Usually a point or so. They have a two hour turn around at the major shows. So when that 16-D merc needs to be authenticated, they are worth the trip to their table.
Slabs make it possible to buy sight unseen. The big three guarantee their grades, so some protection is there. I still rely a lot on the person selling the coin. Most seasoned collectors and dealers that I do regular business with can tell if the coin is off.

**Speedy** · 04-21-2004, 10:43 PM

ND

I have only seen about 3 PCI slabs.....so I didn't know all about them.

Would you think I should get some of my coins slabbed.....I have asked some other guys and am still thinking.

The dates are:

1882-CC Morgan VG
1909-S Cent in VG
I'm in the middle of buying these next ones...
1897-s half dollar in G
1938-D half dollar in VG

Is this worth the $20-$30 bucks a coin to have them slabbed? The more and more I think about it, I kind of like the $20-$30 bucks more than the case that they would put around the coin.

Speedy

**GDJMSP** · 04-21-2004, 10:58 PM

Speedy -

Keep your money - buy coins instead

National dealer · 04-22-2004, 08:05 AM

Speedy,

For my clients the only coins I ever recommend slabs for are the key dates. Mainly this is for authenticity.
Slabs offer protection for the most part.

If you are buying from a trusted dealer, and you are happy with the way they grade coins, you should never have to slab a coin.

We slab coins because it is easier to sell them that way. It has nothing to do with our personal preferrence.

If you truly know your coins, a slab is not necessary at all.

**Peter T Davis** · 04-22-2004, 08:34 AM

Slabs also make it a lot easier to buy sight-unseen. Most collectors will tell you they have a high return-rate on raw coins they buy sight-unseen. Generally, if you know how to grade, and you're buying a coin in person you should be able to buy a coin with or without a slab and it doesn't make much difference. For your purposes, it should be easier for you to find a buyer because there's a well established market for PCGS and NGC slabbed coins. People generally know what to expect, and they know what they want to pay for it. OTOH, if you were selling raw coins, you'd find it more difficult to get someone to tell you what they'd pay for it until after they've seen the coins and that limits you to selling to people who live in your area or ship them to someone and have them pay you after receiving them (and I highly recommend against doing that).

**Speedy** · 04-22-2004, 01:01 PM

GDJMSP
I'm going to take you advise and get some more coins

ND
As I just said I've decided not to have them slabbed but I understand having "Keys" slabbed---so far I have a few slabbed but I have not paid for it.

Peter
I wish I knew how to grade...I'm working on it---BTW that would be a neat topic to start on CT tips on grading

I have gotten slabs on e-bay because I know that I can get "that" coin.

Speedy

National dealer · 04-22-2004, 01:11 PM

Speedy,

Learning to grade takes a lot of effort and time. The best way to learn is to pick up a book on grading. The ANA guide or PhotoGrade. Both are the industry standards. Although neither is used, but that is another subject. After reading the book and practice viewing coins, you will start to pick up the nack of it.
If you have a friendly local dealer, go to his shop and look at the way they grade coins. Most dealers are happy to help as long as they have the time.
Take your grading book with you. I would suggest that you pick a series to start with. Learn where the high points of the coins are. Learn to pick out where coins wear and why. It will take time, but well worth it. Learning the difference between soft strikes and actual circulation can make cherry picking a lot easier. If you picked a still circulating coin like the Lincoln cent, you could literally view thousands of coins for free. Buy some rolls, and once you have viewed each coin, take them back to the bank.

silver art bars · 05-07-2004, 04:58 PM

What are the best grading places?
thanks

National dealer · 05-07-2004, 05:04 PM

Do you mean services?

There are four that are regarded by most of us to be okay.

NGC
PCGS
Anacs
ICG

Any not listed should be avoided by the collector that is not very well versed in their coins.

Welcome to Coin Talk! Register Now, it's easy and FREE!