Grading companies come and go. Many new folks to the hobby see a coin in a slab and think it must be ok because it's in plastic. It may or may not be what is printed on the label. Be careful if it's not a well know grading company. There are those that grade and slab their own coins. They print a label and call them certified and sell them using small, poor images. Some will quote PCGS and NGC price guide prices to sell these slabs. Just how ethical this is has been a heated topic for many years. I see this as a giant conflict of interest but that's just my opinion. Some great coins can be found in these slabs but the odds are against you. If you do buy this type of stuff, be sure you can return it once you can see it in hand. If you don't feel good about how well you can grade, don't buy this type of stuff. It's not worth the risk. Please post your opinion.
Agreed. I learned that from buying a Franklin half that was graded by numistrust. It was graded MS-65 FBL. When I got it, I noticed that though it was a nice coin, there were indicators that it wasn't MS-65. I would have graded it MS-63, maybe 64. And there wee Full bell lines from what I could see. But I believe that to be relatively common for 1948 issues. Dies were new and strikes were often full for that year. Nevertheless, there is a huge value difference between MS-64 and MS-65 especially FBL. PCGS and NGC may not have given it an FBL. I subsequently read up on Numistrust AFTER I bought the coin. Popular opinion seemed to unanimously suggest that they heavily overgrade. I am learning now. I still consider myself much the novice. And I am learning as I go. ebay seems to be full of self-slabbed coins that are often overpriced. And I personally don't trust anything that is graded by any other company than PCGS or NGC. And even then, I'm always a little suspicious. That's my piece.
Made it my personal rule years ago if I was spending over a hundred dollars then the coin would either be in my hand before buying or in a PCGS slab. I do not like the white slabs is my reason for not buying NGC who is the only other grading firm I trust at this time. Some of the others were good in their right time and place but sold out to the mass market or TV promoters IMO.
The one thing I would add is: Learn to grade yourself and use those skills even if you are buying from one of the major grading services because they do not always get the grade right. If you don't agree with the grade on the slab don't buy it.
Great advice but for many of us not feasible. There isonly one coin shop with twenty five miles of where I live. And only two shows ayear within seventy miles. If I did not buy online I might only by two or threecoins a year and I would of lost interest years ago.
Even on the internet (ebay) try to get the best pictures you can to look at. I have asked sellers to send myself more pictures of coins and had very few not send more pictures. Other auctions have great photos like Heritage, Teletrade, Stacks or Goldberg auctions or Scotsmans. If you buy just the slabs you will get some ugly coins that make their grade but who would want them. BUY COINS THAT LOOK SO OUTSTANDING THAT EVEN IN A POOR COIN MARKET EVERYONE WILL WANT THEM.
It doesn't matter whether you buy on-line or in person, the philosophy of buy the coin not the slab still applies. There is however a different thing that most people completely forget. That is to buy ONLY from reputable and trusted dealers whether it is on-line or in person. The reason you do this is because you can always return the coin if you don't like it or don't agree with the grade once you see it in hand. Where people get in trouble is when they buy from just anybody and from any venue. THAT - you should never do.
