I'm getting a little tired of buying raw coins only to look at them under a scope/upclose and finding out they have been cleaned. I think from now on I'm only going to get more expensive ($30+) coins online only if they are slabbed. Although I might have to spend a little more, it lowers my chance of getting burned on cleaned coins.
I made the same decision last year due to the same circumstances. I believe in the long run the graded coins could be a better investment avenue. It does not mean I do not purchase any raw coin, just ones I can afford to be "burned" on.
True. I will still buy wheats, common Indian head cents, etc raw. Cleaned copper is easier to spot than cleaned silver/nickel.
I've made this decision as well. Only times I buy uncertified online is if it's inexpensive, below spot, or part of a bulk purchase such as a roll.
I am in the practice of buying some coins certified, I like how they can be trusted, are more liquid with their grade, they have an assigned grade, and I like the slabs.
I would only consider buying certified coins that are over $50 silver or over $30 copper, since a silver coin's value can be over $30, cleaned or not. Copper, on the other hand, can be worth close to nothing if they are cleaned.
I would challenge yourself to learn more on how to spot a cleaned coin, then to just say screw it and buy slabbed coins. That is what I am trying to do now. The more coins I look at, the better I am getting. Now I wouldn't trust myself yet on a very expensive coin, but I am getting a little better at spotting cleaning. The trouble I am having now is spotting coins that were cleaned a long time ago and retoned. I like the hunt and challenge of finding/buying raw coins that I believe are not cleaned. Sometimes I choose correctly, other times not so much. Either way, I learn from the process and it is no less enjoyable if the coin I bought, happens to be cleaned.
I feel the same way after being burned too many times on cleaned coins and have recently become obsessed with the 25th Anniversary coins! I thought I had done well by getting 3 sets at the minimum price, but even that wasn't enough to satisfy my coin fetish! I'm already planning my next purchase this weekend!
Your idea is a good one. But you also need to realize something. The TPGs still slab a lot of coins that have been harshly cleaned, but lightly so. It's kind of a matter of degree thing. And for the most part they only do that with the older coins. To the TPGs, when it comes to harsh cleaning, it's not a question of black and white. Meaning it either has or it hasn't. It's more a question of shades of grey. Meaning yes the coin may have been harshly cleaned but the damage is minimal so we'll slab it anyway. This is another one of those things where the TPGs do what their customers demand they do. Imagine if you will that the TPGs refused to slab any and all older coins like Bust Halves, early copper, early dollars etc, that had any trace of harsh cleaning on them at all. In other words, imagine they treated them the same way that they treat the more modern coins from the 20th century. If they did that, there only be a small handful of older coins that were eligible to be slabbed. And that would make their customers very unhappy. So instead of treating it as a black and white issue they treat as a grey issue. Meaning that if the coin community is willing to accept it, they will accept it too. That is what is meant by market acceptability.
So, you buying the coin or the slab? Sounds like you're buying the slab over the coin. If you can't look at the coin in person and are buying online, buy only from dealers who allow you to return the coin if unsatisfied, Saying you're done with raw coins, that's just being lazy I think.
I think a good mixture is better than slabbed only. Buying only graded coins can be costly and I think kind of takes the fun away from the hobby. I understand if you want to buy only high grades and sit on them hoping for an investment but if you want to collect its probably better you get a mixture of both. And also to me part of the fun is looking at the coin through a loupe. You get to see the details and high points of the coin. And besides if you're buying from a trusted seller you should have no problems in case the coin has problems.
Buying slabbed only will severely limit your collecting, unless you have many millions to spend. Even some of the most famous collections assembled weren't composed entirely of slabbed coins...not even a third of the collections are. And, like Doug said, most coins with any age have been cleaned at some point, there's just no way around it. Guy
I'm not a big fan of slabbed coins. I like to hold the coin, feel the weight of it, look at the edge etc.. When it's encased in plastic, there's no connection.
I buy unslabbed too, but just not expensive coins, those are protected for my own sake, in case of others or myself.
