Hello Coin Talk, I've learned so much just from reading all of the wonderful posts here by so many seasoned coin collectors. I first got the coin bug back in 2007 when the Presidential Dollar coins were released by the U.S. Mint. I've been purchasing rolls from the U.S. Mint, Proof sets, and Silver commemmoratives. I have to say that as of late I am finding myself more attracted to graded coins: PCGS, NGC, ANACS, ICG, and more. My main area of collecting is with modern coins. I am thinking that instead of sending my coins to PCGS & NGC and hoping for PF70's it's just easier to purchase the already graded coins from trustworthy dealers. Is the coin collecting world headed more towards graded coins versus non-graded coins? Any advice or thoughts would be appreciated. Thanks.
It is a complex topic. Opinions vary. For moderns, buying direct from the U. S. mint, and keeping the original mint packaging is another way many collect. Personally, I prefer certified, though I still buy some raw coins. For many years, certified was a good guarantee of authentication, but this is becoming less true as a flood of fake slabs have come to the market (especially Ebay and Craigslist). Personally, I don't see much point in the PF70 or MS70 grades, but as I always say, collect what you like and enjoy the hobby. Do be aware that a 70 in one holder often sells for a different price than a 70 in another company's holder. Search the Teletrade auction archives to get an idea of current differences.
Buying already slabbed coins is best if you prefer slabbed coins. My advice would be this: Use the slabs that you come across as learning tools on how to grade those coins. Many coins exist in slabs. Some over-graded, some under-graded and some accurately graded. The biggest mistake that one can make is to blindly take the slabs at their word. If I can grade the coin for myself then I can look for under-graded slabs and maybe get a better coin for a lesser price.
I don't collect moderns, but from what I know MS70s can be pretty tough to "make" if submitting raw coins. Also, the premium that a slabbed MS/PF69 carries rarely is offset by the grading fees. That being said, I have seen VERY few people who can tell 69s from 70s.. problem with 70s is, if someone "makes" a bunch of them values can crash.
It used to be. Some of the early fakes were crudely made and easily spotted, even from photos. Later fakes got better. I'd guess current fake slabs are 99.5% visually perfect. Think about it, how hard is it? If counterfeiters can roll out a fully functional Iphone a week after release, is a piece of plastic and a hologram sticker much of an obstacle? Some are fake coins with fake slabs. Some are real coins in a fake slab at a higher grade. For ultramoderns it would be an easy game because the differences between 69 and 70 are so minute that photo archives are near useless in identifying specific coins. Be careful out there.
Mikenoodle lends some very solid advice. I would echo that advice and add that since the OP is mainly directed in collecting moderns then it would better suit him to pick up those moderns already graded by the TPG'er. Sending coins in to be graded can become quite expensive. What's more, you could assemble a whole spectrum of grades, already holdered, that could assist you in learning the subtle differences between the number grades. Bottom line to all this is just like what Mike mentioned. You, in the end, must be the grader. Learn to grade and you can score some really good deals with holdered coins. The old advice of "buy the coin, not the holder" always rings true.
