Think I am gonna go and collect NGC * coins now.

My '64 when I go to sell to a dealer.......'63

When I go to buy, the '64 is really a '65 according to the dealer.

Nothing eliminated. Nothing cut and dry. Haggle, wiggle, and sometimes walk........

 

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There once was a man named ?

 

Just like it always has been.

Two things about dealer, one good one bad. (Btw, I love dealers and hope the good ones here don't take this the wrong way).

Good: Dealers provide a HUGE service to this hobby by basically buying everything we or people who inherit coins do not want. This liquidity greatly benefits the hobby.

Bad: Lots of dealers have offered 20 cents on the dollar, and many severely undergrade when buying on purpose.

But, all in all, they have to buy cheap to offer the hobby liquidity.

Don't like it? Find a hobby that you lose 100% of any money spent on it. But, still, in coin collecting expect to lose 50% when buying/selling. I know many become pseudo dealers and will argue all day long they can make money, well good for them but I am talking about a regular collector who buys and sells everything through a dealer. 50% is a lot, and is why we advise to not "invest" in coins, but its still a HECK of a lot more residual value than most hobbies offer.

 

I think this is a great summary of coin collecting for an average collector like myself and many others here, unless you are an established dealer with access to capital its very hard to actually make money buying and selling coins for profit. Dont get me wrong variety and roll searchers can do well but your not going to pay your mortgage payment every month with your finds.

 

This statement is the false logic, its simply untrue and not even you can deny it, PCGS and NGC slabbed coins bring higher numbers after the hammer falls. There are some exceptions to this but until you come to terms with this the discussion can go no further. Buying a coin without considering the day in which you or a loved one may have to part ways with it is foolish, that is the only thing you are saying i do not agree with.

 

Hobbit?

Who had a thing about John and Lorena Bobitt

When asked how he felt

He responded, 'not my Celt'

For he feared that his wife might just 'bob' it.....

 

Chris,

You need to find better dealers if you are expecting to lose 50% when you sell a coin. If you consign your coins to a major auction house, the transactional costs (buyers & sellers premiums) are at most 20-25%. Of course I am talking about coins with numismatic values that are relatively stable, not coins that are highly dependent upon intrinsic value like common date gold or silver coins. And while I agree that coin collecting has one of the highest residual values of any hobby, and that in general, it is hard to make money investing in coins, I find your loss estimate of 50% to be severe.

 

Me too. Dear God, please don't let me slit my wrists. Is it all that hopeless?

[Picks himself up. Dusts himself off and apologizes for that outburst]


[edit] And reminds himself that he's a collector.........

 

Very, very funny green! I was thinking nearly the same.

 

Not to lean on Chris too hard though (love him like a brother).

 

Yes, great guy! I've only been here a couple of months, but in that time, he has gained my respect.

Mmmmh . . . nothing like a rice krispy treat.

 

You know, of course, Chris is going to have both of us for breakfast tomorrow morning.......

 

Naw, he's a very understanding individual. He'll probably read it and laugh.

 

Maybe he'll ask us to breakfast?

 

I'm sure he love to fly us in for for breakfast!

 

No, I haven't "just got around to looking at NGC star coins." I have seen them for as long as NGC has been in business, and has used that designation. What I said, and what was not understood correctly is "Now I am going to collect them more seriously." I was at one time, more of a PCGS collector exclusively, as I felt that they had the best value retention, and some of the nicest coins in the hobby. Over the years, I have diversified. So, what's wrong with that? Of my toners, about half are NGC and half are PCGS. Would I reject a second-tier beautiful coin? OF course not, if it were priced appropriately. Same goes for any other coin--PCGS, NGC, SEGS, raw, etc. If I don't like the price for what I am being offered, I don't buy. If it meets my standards, and I tend to be choosy, especially about Morgan Dollars, I buy. Simple as that. If I do buy a second tier TPG coin, I do crack it out, as the PCGS and NGC slab definitely increases the value and resale--to deny that aspect is to be incredibly naive about the hobby.

 

I seem to be gravitating to ANACs it seems lately all the coins I like for the price are in ANACs slabs
But then as repeated many times by others I buy the coin not the plastic.

 

Always. always, buy the coin, not the plastic (holder)..........

 

i think that if you can buy a coin that is slabed and you are confident it is undergraded then have it sent back in to be regraded you are the winner.as has been said a well struck coin beats the same graded coin everytime no matter who grades it.i don't care who grades a coin either provided that i can look at it and am comfortable with my own evaluation.there is nothing more satisfying then leaving a coin show/shop with a winner.if you are buying coins of any value you should not need a gradeing service to make a decision for you they should be used to confirm what you should already know.try resending a coin into a grading service and you will find that even they are not seeing the coin the same way everytime.

 

Paul, I understand your coins, and probably mine, are not of that category necessarily. I was throwing out the 50% number as an overall number, especially for beginners.

Think about all of the cleaned, damaged coins beginners can buy. Think of stuff like proof sets that dealers rightly pay lower on since they have them coming out of their ears.

You and I know what the realizable value of our good coins are, and maybe are old enough that our "beginner mistakes" have been liquified from our collections. The majority of collectors, though, are not in that position.

This is not even accounting for all of the HSN, Littleton, and just plain overpriced dealer stuff that eventually has to get sold to a dealer.

So, overall, I think my 50% number is fair if you consider all of those things. I am still comfortable with it as an overall buy/sell spread for ALL coins sold.