Most of us have noticed how certain old certification holders bring more money than the new slabs. Some dealers make a huge market in this, with the presumption that old holders = better coins. With PCGS we have the old rattler coin holders, the next generation, where the coins could breathe presumably, then the "Doily" holders with a mottled appearance, etc.. Likewise we have a market in old NGC holders, including the "white label" holders. With ANACS, we also have the old small holder, I don't know if those usually bring a premium. This company specializes in nice old holder coins: http://www.coinraritiesonline.com/index.php Anyone have thoughts on their experience with the old holders and whether they actually should command a higher price point? Thanks.
No, technically they should not. several years ago, people discovered that these coins were often more conservatively graded, and thought they could crack out and resubmit the coin in hopes of a higher grade. Now, though, many sellers simply assume the older holders will carry a premium. I was lucky to get a PR66 1962 1/4 on eBay in a rattler for $13.99 BIN. I have not found many other PCGS OGHs and rattlers under $25 BIN simply because of their holder.
And some are over-graded or problem coins. I have seen quite a few OH dollars that have problems or no real eye appeal.
I watch eBay as well, and I agree that OGH and rattlers are typically priced higher than their "doily" blue counterparts. I too have been told that PCGS was more conservative with grading "back in the day", but I've also been told that all the good ones have already been cracked out and resubmitted, so it's really up to you to decide what to believe. The number one rule to buying slabbed is to buy the coin, and not the holder. I am guilty of breaking that rule at times, when I buy sight unseen, but I am against paying more for a coin just because it was slabbed 25 years ago. I pay what I think the coin is worth, and if someone thinks its worth more, they can have it.
Well here's your chance to "get in early" Owle. It is, and long has been, my contention that the TPGs again changed (read that as loosened) their grading standards in 2004. And I believe that eventually the market will realize and agree with this. So buy all the coins you can slabbed before 2004 and submit them for upgrades. Or - sit on them and wait
Older holders are a crutch for the inexperienced....often to be taken advantage of by overzealous sellers who prey on them. The facts are that most un-fresh older holders are still in the older holders because they can't/won't upgrade, yet many are sold for a premium under this guise either implied or overt. One needs to be very careful, particularly when buying older holders from sellers who play the upgrade/crackout game, and particularly when the coins are being sold for a premium. Older holders are a good thing when evaluating a coin for (a) stability of surfaces, and (b) being un-messed-with recently. As RedRaider said.... Buy the coin, not the slab. All of the above IMO.
What happened when they changed (loosened) the first time ? I don't know why they changed, but I certainly believe they did indeed change.
It appears to me that many older holderd coins are still in them because they have no shot in upgrading. Unless a coin has been in a confirmed private collection for 20+ years which is very possible. If they have been cycling the coin show scene, you can bet every dealer in the room has noticed its upgrade potential so I don't look for sweet coins in old holders there. Lets say a nice coin with crack out potential is for sale in an old holder, but the price is crazy, I tend to pass because a coin should be sold as to the numerical grade on the holder, not some potential blue sky. If a dealer wants 66 money for a 65, then they should take the chance and resubmit themselves in order to get it. Paying 66 money for a 65 based on an old slab is foolish IMO. I do like to see copper in old holders that still holds its awarded color designation and that is worth a slight premium for the coin being stable, but it will then need to be stored correctly by the new owner. Matt
