Are TPGs TOO big of a deal?

I found some $20 NGC Lincolns in 64 at my LCS today

 

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I've submitted cheap common coins for the purpose of consistency of storage and presentation within a broader type set. To make it worthwhile, I try to have a real condition rarity with great eye appeal before submitting a common type.

For a lot of those (relatively) modern world types, they can be theoretically cheap in the catalog, but finding an MS67 can be a daunting task. Slabbed high grade world moderns like that can definitely command enough of a premium to justify the slabbing, for when you feel you need to slab a common type.

 

This has been my philosophy since the late 1970s. Other than some junk silver and some silver rolls (more junk silver), everything I own is in a slab. Most are certified by PCGS, but I have some NGCs as well, also ANACS. I did and do it for heirs, as they won't be interested in the coins as a collection. I also have everything certified b/c slabs offer the best long-term protection from the elements. As for what they charge, don't send anything in that isn't worth at least $100.

Also, I initially got started with TPGs mainly for the authentication. I decided that anything that I paid at least $50 for (this was a long time ago, back when my first 1912-S nickel cost $50 and a 1913-S Barber quarter in Good cost less than $100) I would get authenticated by ANACS. This was before PCGS and NGC got started.

 

An overhead power transformer was struck by lightning and caught fire around the corner from me. I too am in Queens County.

 

I flew about a foot off the ground till the gas ran out!!!

I forgot how literal you are...I flew the plane at an altitude of about a foot off the ground...

 

Yep. Many successful businesspeople understand how to think about sunk costs.

 

Me too, except i was in a car (yellow camaro)
about 20 feet from the pole it was on. It shook the ground and was so loud that i thought the car got struck by lightning !!
Until i looked up and saw the black transformer then i realized what got hit

 

I read a Coin World article earlier today (Thur), on "Chinese starter kit for fake PCGS holders" (link)

Kind of blood-chilling stuff. Paradoxically, blood-boiling at the same time. Read it!

 

Thanks for the article, Howard.

 

“ The name of his firm is Fang Gu Gong Yi Ping Limited Company.”

I heard of them once before. A busboy had dropped a tray of flatware, and, well...

 

I had purchased a couple of coins from a vendor on Ebay a few days ago and, because any additional purchases would not incur a shipping charge, I thought I'd see what else he had. I found PCGS slabbed George Washington 2007 Presidential dollar, MS66, Position A (and also a separate Position B - I didn't even know there were such varieties!). Bidding started @ $2.99; no one else bid; so I got them for $2.99 each, free shipping. I had no need for these coins, but my brain would not allow me to pass on a PCGS slabbed MS66 Dollar for 3 bucks. I may be an addict!!!

 

Yeah, someone noticed the edge lettering did not all go one way relative to coin side and got excited. As you read the edge lettering, sometimes the obverse is up and sometimes the reverse is.

Position A/B is predicated by having the coin oriented so you are looking at the coin edge with the obverse side 'up'. So position A the lettering is now 'upside down'. B is rightside up.

 

And, apparently, some had the edge lettering left off altogether, thereafter being known as "Godless Dollars", if memory serves correctly.

 

Does PCGS even bother with Pos A and Pos B anymore?

 

The ones I got were "First Day of Issue", so you may be right. I'm just still in awe that they sell for 3 bucks!

 

Yeppers

 

For me no, when I am buying and selling large volumes of coins it is really a huge help. Having coins graded by others saves me the time of having to grade them myself and I can use capital for things other than hiring graders. That's just my opinion and what works for me.

 

Ya know what I love about you Ed? You never 'rise to the bait'..........

 

The good TPGs have been good for the hobby and still are. The bad ones just created more problems for the hobby.
If a person wants to sell something that's truly rare or valuable, it should be in good plastic to make the deal easy. There are options but it takes a bit of work. Go to a major show and walk the coins around to well known dealers. As a normal, nice coins will get fair offers.

 

I remember when slabbed coins were first introduced. At auctions, most of the slabs were immediately cracked open and the coins removed. But times have changed and I think for the better.

If I'm going to spend $50 or more on a coin, I want it slabbed. I do occasionally buy raw coins because I have a couple of Dansco albums I'd like to fill, and sometimes I see something inexpensive that I like, but if I have to dig a little deeper into my wallet, I want to know there will be no argument about the grade whether it is genuine later when I or one of my beneficiaries decide to sell.