Buy the coin, not the slab.

I want to hear different member's opinions on the purchasing of slabbed coins.

I like slabbed coins because:

1. They professionally hold the coin.

The encapsulation of the coin prevents dirt, dust, fingerprints, etc, away from the coin, so that many generations may enjoy the coin without it being harmed.

2. They help online buyers from buying "problem coins".

Sometimes online photos are not detailed enough to tell if a coin has been cleaned. Even if the coin has not been cleaned, it may be slightly bent, which does not always show up in a two dimensional photo.

When you buy a slabbed coin, expert graders will determine if your coin has been cleaned, if it's bent, etc. So when buying online, it eliminates all the guess work.

I do not like slabbed coins because:

1. Forgot buying cleaned coins in slabs. Since the seller passes the slabbing cost to you, often cleaned coins are not much less than their uncleaned counterparts.

2. Sometimes people will pay a large premium for a coin being slabbed. Again "buy the coin, not the slab" plays a major part in this rule.

3. Forgot buying cheap coins in slabs. You will pay a really high premium. One eBay seller "Dsscoins", starts all their slabs at $18.00. Even if its a destroyed coin worth 50 cents, the BIN price is $18.00. DSSCoins currently owns 8% of all NGC coins on eBay.



Anyways, those are just my opinions. I don't buy slabbed coins with a "high premium". If I see a slabbed coin I like, I like paying as close to it's unslabbed counterpart as possible.

 

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I think if you're going to collect something, you should just educate yourself about the very thing you collect. Say, if I were to switch to stamp collecting, I'm not gonna just leave it up to the 3rd Party graders to do all the work, I should educate myself so I don't have to buy already graded, approved and authenticated stamps by such 3rd party. Your #1 under the like is easy, there are plenty of holders one can purchase for a fraction of the price a slabbed coin costs to protect your coin. Your #2 in the like, well, I already explained that one.

If you're not going to learn and educate yourself about the very thing you collect, then my suggestion is, don't collect it.

My two cents on the matter. But yes, if you buy slabbed coins, buy the coin, not the slab.

 

I respect slabs because they preserve the coin and can protect it from damages such as a fire. On presentation I would award NGC with the nicest slab. Also I believe that slabbing promotes positive growth within numismatics because it gives new collectors confidence in what they are purchasing.

One series that doesn't seem quite right to be in a slab to me is a vf CBH. I really would prefer to handle that coin in its natural state.

 

Protect from fire? Are you sure about this?

 

I would dare to argue the opposite. I do not disagree that slabs can lower the risk of new collectors, but I believe its a crutch. Way too many collectors nowadays simply do not know anything about coins, and simply buy slabbed coins and recite as gospel what is on the slab. They could not tell you the difference between an AU50 and an MS 63 if they had to.

To me, this is extremely dangerous. This crutch will make them much more likely to be sold fake slabs in the future, since they know nothing about coins and could not tell you if the coin in the slab is a fake or not.

I know you cannot force someone to learn about something they don't want to, but at least in the past collectors would learn to grade and authenticate themselves out of necessity. Now, way too many just trust whatever is printed on the piece of plastic, and don't even know enough to be able to recognize unique attributes of a coin if its not on the slab. I was talking at the NW show a month ago and someone mentioned he collected SL halves. I told him to keep his eyes out for the 58 doubled die, as I have seen them in slabs not attributed before. He said "doubled what? Wouldn't something like that have to be on the slab?"

Made me a little sad for him, he is not getting his money's worth out of this hobby IMHO.

Chris

 

IDK about slabs, but I have seen coins from a fire in those old heavy plastic capitol holders. They all sold for melt since the plastic had melted onto the coins from the heat. I am sure a slab would be better for a smoky environment to keep the smoke off the coin, but any kind of heat and I think a coin would be better off without any packaging on it. Maybe Jason meant the smoke from a fire the slab protects better from.

 

See my link below, I like slabs. Oh and sometimes I get coins in them too.

 

I like good coins. Most of them end up being in slabs, but not all.

 

I have no problems with slabs and I have never really liked the phrase "buy the coin, not the slab." That said, I believe that if you are a truly serious collector, you should be able to grade and authenticate your coins of choice without the need of a TPG. Even when purchasing a slabbed coin, one needs to be able to evaluate that coin in the slab. Grading is very subjective and therefore each grade contains a wide range of variability. Is the coin overgraded, undergraded, or right on target? Even though the technical grade is the same, does coin A and a distracting mark that coin B does not have and therefore has better eye appeal? No two slabbed coins are the same and thus no coin should be treated as identical to another.

That last sentence:

That is the key to why coins are bad investment pieces (even slabbed coins). Because they are not an identical commodity. Each coin is slightly different and those differences affect the value even within the same grade.

Slabbed coins are easier to sell...because buyers have a little more security with them. That is a benefit to a slabbed coin, if down the road you might want to sell it and want that to be as easy as possible, slabbed makes it easier.

Bottom line, when collecting coins the collector should grade prior to buying (no matter if the coin is slabbed or not)...it's best not to rely on the slabbed grade. Slabs do add a little security to the purchase and make the coin easier to resell. A slabbed coin is still no a good investment piece.

I have both slabbed and raw coins in my collection. I personally have not preference either way. I buy the coins that I want in my collection. I have never cracked out a coin and I have submitted a grand total of 3 coins to be slabbed.

 

If coin collectors can buy the coin and
not the slab then why did they need
TPG in the first place? And if they can't
then how will they?

 

I don't care for slabbed coins, and only buy one slabbed if finding it raw is a problem.

My biggest 3 things why I don't care for slabbed coins:

1.) The grade on the label is a paid opinion, and no guarantee to be 100% accurate.

2.) Grading is highly subjective, and varies from grader to grader, as well as TPG to TPG.

3.) Just another way to increase a coin's retail value, and for marketing.

 

It's not like they needed the TPGs, it's the TPGs that started and saw a business opportunity. I think most collectors who know how to grade and collect to just collect, as in, treating it like a hobby, they don't need TPGs. Those that want to take advantage of those 3rd party opinions can and do to make profit. So dealers and sellers benefit from TPGs, it takes the hassle in wheeling and dealing prices when selling coins that are valued based on a grade, etc.

 

Because the TPGs marketed themselves as a necessity to numismatics.

 

You're not a true collector and in it for the fun of the hobby if you buy and/or put coins in slabs.

 

I'm not a slab guy. I'll buy one if I need the coin inside, but the ugly plastic junk always sees the trash at day's end. I suppose they might serve a purpose to some. They make great coasters. And to those who think they prevent environmental damage to your coins, you couldn't be more wrong. They are not air or water tight. I helped evaluate a collection of coins from a client who was a heavy smoker. The slabbed coins contained just as much smoke and nicotine damage as the raw ones. As a side thought, what exactly is it that makes a TPG's graders "professionals"? There is no industry standard making one a professional in the field. So they've looked at thousands of coins...so have many of us. Using the same requirements as the trusted graders to be deemed a pro, I should easily make the title of professional couch potato. Wonder how much I can charge you for the privilage of my professionalism?
Guy

 

I like the assurance, protection, and museum look of a slab. I do have a dreadful habit of liking to touch my coins though!

 

1) I dig slabs because there is no way I will ever be good at grading. It takes a certain level of patience and knowledge and I'll never have it. Just easier for me to trust others who are trusted by many to make sound grade determinations.

2) I don't dig slabs because it sometimes adds an unnecessary premium to coins. I think slabbing keeps younger collectors from getting into the hobby. It helped kill cards and comics. Kids want to see owning something considered special as attainable. Can you find a Pete Rose rookie card without a slab and the mark up associated with it? Nope. But at least now it got rid of the comic flippers and gougers and now the kids that collect just do it to read the books.

I buy bullion and lower value unslabbed. I buy older stuff graded. Just how I roll.

 

Like I said before, I usually do not pay a "slab premium", unless it's not very much.

I don't want to pay more for the slab, but if I can get a slabbed coin for only $5 more than a raw coin, then sure...because it already comes in a nice holder!