Hey Desertgem , who's that new guy in your signature picture , sure doesn't look like the other guy :hail::whistle:. rzage:kewl:
I think David may have meant that term a little broader than that, Mike. I know I did. Include assigning a grade to the coins. A third-party can be said to be more "objective," I suppose. But, then again, they're known to screw up, too...on both the high and the low ends...and, of course, we see examples of that, all the time. Their grades are more accepted (i.e., "marketable"), though. Don't think there's any denying that.
Yeah, I see from his response that he did. However, I'm not sure how valuable an owner's description, price paid, or grade opinion of/for a coin would be relative to a TPG's grade, which was the intent of my response, and which you seem to agree with (and David seems to disagree with). The bottom line, to me, is who would a buyer believe more -- the seller's opinion of a grade, or a TPG's?
David, let's fix that...tell us what you think. Obviously, a third-party. Sometimes, though, that third-party slab can be the "kiss of death," too. How many times in these forums have we all heard somebody bought an old-slabbed "MS-64," for example, and, the resounding consensus is, crack that sucker out and resubmit it? On the whole, though, IMHO, there's no question, slabbed coins, as opposed to raw, are going to appeal to a much broader spectrum of the market than just serious collectors and/or investors. In my collection, I have an inventory that's a "work-in-progress," and, a memorandum, and instructions. But, that's just how I do it. If I were Eliasberg, maybe I'd do it different, I don't know. But, I'm not.
You missed the context again. I was responding to the comment directed to me that if someone's heirs were informed collectors who didn't need my concern for their ability, then my entire argument for purchasing slabs was invalid. So I set up a hypothetical condition that eliminated all concern for them and still justified the purchase of slabs. Nobody was called selfish. It was just a totally logical proof of a point. No coin collectors were injured during the production of this post. It's really a simple statement to get so wrong.
That's a good point, and come to think of it, it brings up a (perhaps even more) important point. When it comes to protecting our heir's interests, a slab only gets you so far, and can even work against our own interests. To wit, along with my coins is a detailed description on how (and to whom) to best liquidate them -- heaven forbid something happens to me. It reads like this: "Call Mark Feld at ###-###-#### and follow his advice." The point being -- other than perhaps giving Mark perhaps the biggest compliment I could -- is that a slabbed coin only gets you so far, and as it is in much of life, it's more than just what you know, but who you know that know that really counts. Morbidly yours...Mike (who is no Eliasberg either, but that doesn't stop me from thinking about my family's best interest)
RZ, it is my Halloween costume. But, it is growing on me........ Maybe I can get into that famous coin dealers poker game :kewl: Jim
LOL, Mike! Have to log off, now, it's my shift on candy duty (7PM 'till whenever we run out). But, seriously, I thought my instructions were comprehensive. Good ideas, thanks! Oooh, there's the doorbell, again, gotsta split! Gee, at this rate, doesn't look like the little devils and goblins and witches are going to leave any behind for the gracious homeowner this year!
Thanks for sharing your experience. A lot of people have strong opinions about this but unless they do what you did, a lot of mistakes are likely to be made.
I was at Stacks today and this guy is pitching this raw Booker T and some other coins and the girl says, well its not worth much maybe $3.00 and I'm thinking the silver is worth more than that, but I'm sure I've run across prices on that coin that is more than 3 bucks. Ruben
Yeah - I've worn a hat like this, for about 2 decades so I figured that we might as well start a fashion trend here on coin talk. This particular model was purchased in Lake Placid, NY. Ruben
I'd have to disagree with that... an "objective opinion" is an oxymoron, because all opinions by definition are subjective. And any pronouncement that a given coin has a given grade is merely an opinion, no matter how supposedly "expert" it is. The opinion of a movie reviewers who sees hundreds of movies is no less subjective than the opinion of someone who only sees a few. Anyway... I think most members are aware about my feelings on the TPGs so won't belabor the fact I think their service is worse than worthless to the hobby. But even if I were to concede their service has value, I can't see why any collector would bother having any of his coins slabbed unless he was planning on selling them. If you're keeping it to yourself, then really isn't it just your own opinion that matters? And there's plenty of holders that can protect the coin that are much cheaper than a grading fee. All my coins I have in my collection I'm planning on keeping the rest of my life, if possible, so other people's opinions of their grades are pretty much irrelevant to me. I did have a coin slabbed, once... it's a 1986 Statue of Liberty half dollar commemorative. I got it slabbed partly because I lost the original packaging and it was in a scratched capsule, and partially to satisfy my curiosity at what getting a coin slabbed would be like. I have no intention on selling it (it's not worth what it cost to grade it) so the fact that ANACS called it a PF 69 DCAM means nothing to me really. As for my relatives... I'd like to think that they wouldn't break up my collection after I was gone, but at that point it's not my problem anymore. You can't take it with you after all. I'm planning on leaving my collection to my brother who I'd think would have more respect for the collection instead of only caring what it might be worth. But even if my heirs were of the mind to sell the collection... that's their problem if they want to get a fair price for it, not mine, and call me selfish if you like, but I don't see why I should do anything to facilitate them doing what I'd rather them not do in the first place. So why would I slab any of my coins? Beats me. None of the logical reasons I could conceive of for doing so apply to me.
It's amazing how some of these folks can attempt to pick your pocket and keep a straight face. During the summer I was talking to a dealer who said he would buy my silver eagles for $6 each. It would have been more honest to try to just hit me over the head with a bat and steal my wallet. :hammer:
