Coin Collecting.... For the love of the hobby.. or for the Investment?

So, I guess I should assume that you don't mind paying 10x, 20x or more than the true worth if it is, in fact, a problem coin.

Going one step further, wouldn't this attitude encourage SleazeBay to become even sleazier if there was no protection from buying damaged, mislabeled, altered or artificially-toned coins?

Certification doesn't necessarily equate to greater value or profit nor does it exempt a potential buyer from at least understanding the basics of grading, but it does provide a greater amount of security when making purchases sight unseen.

Chris

 

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If I sell a coin for a good profit I'm a brillant investor. If I get my butt scorched, it's okay. I'm really a dedicated collector. evil:

 

First sleaze bay amen!! I love it never bought a coin there if I don't buy it local where I can see it in hand I buy through the reputable coin auctions like ha stacks Goldberg etc second I'm about the asthetic and problem coins usually don't appeal to me I mean I can live with a mild cleaning on an early silver or gold coin or some porosity in a copper or a minor pinscratch that you can barely see on a good coin but i don't buy examples that are holed tooled whizzed corroded etc not saying I might not make an exception but it's gotta be an extremely rare coin small eagle half Or 1792 half disme for example

 

wow

 

Oh, c'mon. Where did the OP say that he prefers problem coins, or that he's willing to overpay for them? Is finding interest in a problem coin some kind of proof that you're too witless or inexperienced to appreciate nice ones?

 

You've got to take the horse blinders off because that is what would happen if certification services did not exist. The shysters would be coming out of the woodwork like cockroaches out of an MIB dumpster.

Chris

 

There's a lot of garbage out there even more so now thank god for grading when I started collecting there was no such thing no Chinese fakes either but there was altrred dates mintmarks etc but there's a lot of really nice coins can be bought for little money you can bollect say Lincoln cents or Jefferson nickels for very low dough or you can collect 18th c gold where you have to have a lot of money and everything in between is why coins Appel to so many

 

Help. Am I the only one here who can see a difference between "a damaged coin might be interesting anyway" and "we should abolish the TPGs"?

 

I can see the difference first we need to get rid of all the ***** Chinese fakes

 

It's literary licence dear fellow. Deal with it........

 

Unreadable.

 

Shakespeare wanted to do it 400 years ago a good idea then and still a good idea

 

I've not a problem with it.

 

Chris, I beg to differ with your purported understanding of TPG value to the Numismatic community. I respect your knowledge enough to believe that you know the "Market Grading" TPG have generated wealthy "cockroaches". I can only read the tripe about TPG guaranteed grading security so many times before challenging the fallacy in an unregulated market which exists without uniform grading standards even between TPG. Even the existing individual firm "standards" are frequently violated in namesake of "market grading", seemingly dependent upon coin scarcity.
I believe that deficiencies in proper? grading standards can be shown for virtually all TPG graded coin types, as I've shown on numerous occasions in this venue.
I personally believe that acquisition of TPG grading, including CAC subgrading adds a semblance of investment security for future resale, but doesn't assure proper grading. It's believed that only market acceptability, at a significant premium, is minimally? assured through TPG grading. I have an extraordinary expensive diverse voluminous collection of TPG graded "Mint State" coins, and believe my hypothesis could be easily established by an objective unbiased audience.
JMHO

 

You have a valid point their real inconsistent I feel I have a decent handle on coin grades and have been collecting and stydying them for 30 years I have many slaw bed coins myself most I feel are solidly graded and sometimes under graded cause I buy the coin first not the slab and walk away from coins I feel are overgraded for an example I've bought ms 64 Morgan's that I feel are far superior than many 65s I see some of which I feel should be a 63!!

 

I want to thank everyone who has posted on this thread. I didn't realize there would be as many responses to this as there has been.

After reading everyone's response (yes... even ones without punctuation .. lol), I think there have been some very good points made, and great questions offered. Here is my two cents, as the originator of this thread.

1. To purchase graded, or raw coins..... which is better?
In my own collecting, I have usually avoided collecting graded coins for stupidly simple reasons. I love to handle the coins (gently... I don't mean licking them or anything like that!). I put my coins in simple 2x2 holders and into my binders for easy organization. The graded coins and their holders don't easily fit into my binders.
I suppose I could say my other reason for not collecting Certified coins is simply because in many cases, I think that those 'toned' coins and such are plain ugly! I see those Walkers... Franklins... Roosies and such posted, and they have toning on them that make me shiver in disgust. The coins appear to be completely stained, and their eye appeal for MY tastes is completely ruined.
That's not to say that I haven't seen some certified ones that made me WOW.... Early Chain cents, for example. They don't have the toning on them, but WOW... some of them are breath taking. Sadly, they are worth more than my house..... so... I'll pass! lol

2. Overpaying for coins... Upgrading coins.... Fake coins....
One poster referred to overpaying for coins if they are not certified. I think the poster makes a good point. To me personally, I think it's up to the BUYER to do research on the coin before making any decision. I always check out a few sites for prices, and even check e-bay to see what the going prices are. Sure.. I'm not a certified expert on grading coins, but I can take an educated guess and check the prices accordingly. Now, if I (or someone like me) ends up over paying for a coin.... well... would I ever know? I mean, if I'm not planning on selling the coins, how would I ever know? However, playing devil's advocate, if I ever DID realize I paid too much... well... Too bad on me. I believe in personal responsibility (sadly lacking in today's society).

Fake coins... SUCK. Plain and simple. When it comes to coins commonly faked, this is one of the few times that I agree that certified coins are the only way to go. Recently, I was looking to purchase a Twenty Cent coin. After seeing coin after coin... I began to realize that for a low end common year, the average cost is about $100.00. For a low end collector like me, that's a lot of money for one coin.... and where it's commonly faked... it would SUCK to spend that kind of money on something not genuine. So.. in cases like this, I think graded coins are the way to go. However.. I've also been reading posts where even the Certified Holders are now being faked..... Ughhh..

Finally... trading up coins. I think this is just a common sense thing really. Doesn't matter if you collect raw coins, or certified ones. I think any person that has... let's use an 1800 LC as an example.... Let's say they purchased it on the cheap, and it's in a AG - G condition. The person later has many other large cents (duplicates), the person decides to liquidate them in order to get money for a new coin. The person then finds a better example of that 1800 LC (VG - F). Why would you NOT upgrade if the opportunity arose? Now... I agree with some of the posts where this could really get you in a sticky situation.... If you weren't at least a LITTLE careful on your original purchase... you may lose money when selling the lower grade coin... This just leads me back to what I said previously... ALL collectors should do a SMALL bit of research before buying ANY coins.... Raw OR certified...

Darn.... Sorry to be long winded... I have lots more to write... but i'll leave it at that for now.

 

I believe I qualified myself with the insertion of the following........

However, my reference about cockroaches was directed more toward the unethical sellers on the internet who would use whatever means possible to deceive a buyer, and that would be much easier for them if third party grading didn't exist.

Chris