Buying the Slab not the Coin

Anyone seen this? Forgive me if I'm late to the show and this has already been discussed. I found this interesting.....http://www.coinworld.com/news/preci...ling-to-pay-premiums-for-grading-holders.html

I have a few of the Gen 1.2s, suppose they're worth more than the Morgan's they hold?
Thoughts?

 

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"Buy the coin, not the holder" is something everybody says, but very few do.

 

Hee hee, agreed! I don't buy many slabbed coins, I buy mostly raw.....but when I do buy a slabbed coin, I have to want it.....the coin I mean. Just thought this was interesting and was wondering how many out there look for older slabs and would pay 1K+ for a slab.

 

There are a number of afficionados (sp?) that collect the slabs. I have an old Hannes-Tulving (who I believe is relaxing in a federal prison) slab with a 1941 Walker, probably worth nothing added, but is a little different nonetheless.

 

aficionado, no double f in Spanish

PS: nice sla... errrm coin :-D

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My motto is "buy the coin, #crew the holder"

 

There's also some people that are putting together sets with first gen slabs

 

In general the PCGS 1.0 & 1.1 (White label rattlers) and 2.0 (doily) are the slabs that bring the highest premium.

The 1.2 is the regular rattler. These were around for a while (1986-1989), so they are more common. Many people also think that these coins are more likely to be undergraded (due to the higher standards in the earlier days). However, a decent amount of the undergraded rattlers have already been cracked and resubmitted. So you can still find really nice coins, just don't assume all can be upgraded. I still see many rattlers selling for a premium to a newer slab, but it is a modest one (maybe 5%-15% which equates to $5 to $15 dollars for a $100 coin).

The example you linked is a special case. Certain coins, like silver Eagles were not graded in bulk like today. Thus finding an eagle in a rattler is fairly rare. To add, MS 69 grades were not prevalent in the 1980s. That could mean this was one of the best Eagles graded in those days and the buyer hopes it will upgrade to MS 70. Or it could just be a slab collector building a type set of rattlers that needed the Eagle for their set.

 

Here is an example of where I specifically purchased the slab (not necessarily the coin).

With the slabbing error one might wonder if the coin in the slab is clad or silver.

 

The one in the CoinWorld article was a Gen 1.2 that sold for over 1K, that's why I thought it was interesting. PCGS states for the Gen1.2 is "Common, though growing scarcer with the passage of time" maybe it's time!

 

I wanted the coin too, but I was buying the slab:

 

Now that's cool!

 

That's COOL...

 

Wow! How can anybody BOTH read a line like ""Common, though growing scarcer with the passage of time" and take PCGS population reports seriously. The one seems to betray the pointlessness of the other.

 

I think they meant "Comeon, buy me now!"