Frustrating day in coin collecting..

Evening all,

So tonight I won some auctions, like a 1878 Morgan Dollar 7TF (Vam 162 Broken N&M) PCGS AU50 and I am quite pleased in this.

However I'm getting frustrated at all the coins that say "Improperly cleaned" or "NOT GRADABLE". Are they even worth $1 over the silver value considering this? I don't like the thought of them being in my collection. However some I'm looking at are on the "Rare" side. Is this something I'm just being over concerned with or do any of you feel the same?

I don't want to be viewed as a perfectionist with my collection but then again blah...

Maybe I'm just frustrated with my lack of direction when it comes to my collection.

Had a bad day with my roll searching also, so that isn't helping my mood.

Take care,
Matt

 

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I've seen alot of the same thing on Ebay and teletrade and such. Those problem coins still seem to sell high, though I suppose some of the more rare coins are within reach of some folks as a details grade so they can fill a spot when a non detail coin is out of reach.

Be interesting to see what others think...

 

Good way to look at it and one I didn't even consider. *high five*

 

I think you'd be smart to trust your gut instinct, which is telling you to stay away from problem coins! They'll soon lose favor with you in your collection; soon enough, you'll regret you bought them.

I believe this hobby is served very well by perfectionism (and, fortunately, not at the expense of anyone else)—why not embrace it?!

 

What matters is the overall eye appeal as it relates to your personal tastes.

Bid on the coin, not the slab.

 

Wasn't a great day for me either spent the whole day waiting for my packages and none of items come.

 

As more of the older coins get slabbed and the grading services get more critical, you will either have to have deeper pockets or obtain fewer specimens for your collection. Since many people cannot deal with having less or paying more, the buying standards will lower to meet demand. Either that or collectors will loose interest in the hobby. You can't have a satisfying collection if you cannot fullfill your need to buy. IMHO.

 

If you regret having them in your collection now Matt, a few years from now you probably won't feel any better about them. I've learned over the years that there are some coins you're probably not going to be able to afford. I'm happy with my collection the way it is. If I see something I can't truly get excited about, I just pass on it...and forget it.

Bruce

 

I agree with Bruce! I realized many, many years ago that I would never be able to build a complete set of Morgan dollars unless I was able to accept either very low-grade and/or problem coins for key-dates. I didn't relish the idea then, and after all these years, I still don't like the idea now.

Stick with your first impressions. If it bothers you, pass on it.

Chris

 

Newbies should understand that this is whyshould never clean your coins!

 

Agreed, I have plenty of coins that I know I won't be able to get unless I would go for low/problem ones as well.. it's something I have to deal with as well. I just want as good an example of a coin as possible.

 

Doug,

I second that emotion!

Chris

 

Why was the policy changed? I totally agree that these coins shouldn't be slabbed at all.

I guess I feel more of a sense of security buying coins that have been slabbed. I wish I had a decent dealer around here because it wouldn't matter as much if I could see the coin up close. I tend to stay away from unslabbed because I mainly buy from online auctions where I can't see up close what I'm getting.

 

I agree with Doug. If it wasn't for NGC or PCGS grading these coins (many, almost microscopic in imperfection) then there wouldn't be this sense of insecurity with them. I would take them out the slab and keep them raw. Always look at your coins closely before purchasing them so when you send it to a TPG, you feel you made the right decision. If it doesn't come back as you wanted it to, study it further and develop your knowledge and experience.

 

I would much rather buy slabbed safe coins than raw as well, especially Morgans and Peace Dollars. Around my area though that means only online or the rare chance at an antique shop (usually overpriced).

Most of what is sold around here is raw and usually the lighting isn't the best for viewing them, add to that impatient folks working in the places, no dealer on premises and such. I do only buy graded items online as it is even harder that way.

I have made mistakes and I'm sure I will continue making them. Hopefully, learning from each and I suppose the best way learning is to at least try sending something in for grading and seeing if my hunches and hopefully my skills are getting better.

But you are right, I make the decision to both buy and grade something. I can't blame anyone else for my mistakes but myself. I would not nor could I place blame on either the TPG or the dealer...But that is just me..

 

I stay away from them. The one I know of around here tends to get raided by the cops looking for stolen goods.

 

These shops here are in no way like that. I don't worry about that issue here if you look up New Oxford, Pa and antiques you will find it is a top area for those in the whole state.

There are no dealers within 25 miles of my location that I am aware of...

 

I buy online from a dealer or 2 and have had no problems what so ever.. The one dealer even has layaway for those more high price items a good return policy and coins in my collecting/price range.. I don't mind buying online and it's like you said, buy right and from the right dealers.

If the listing is called coin dealers looks like the last post by you was 2006. I'm guessing most things are still current as far as good reliable dealers..

I was not trying to be judgmental on that statement. I have been out to use the Morgan Dollar section and several of the links are now dead or dying and just wasn't all together sure how many others would be after all that time.