Newest Addition to Collection

Here is my latest addition. I saw it and looked like a good deal, but I have a few questions for the experts. As you can see it is a 1962 Proof 69 Dime. Looks better than the picture represents.


Here are my questions:
It is graded by Numistrust.
Is that a reliable grading service? The holder looks as if it is sonically sealed.

What should I expected to pay for this coin in this grade and being grades by Numistrust.

Although the holder just says Proof 69 it appears Cameo.

I bought this coin because I thought I got a good deal. $3.00 on a eBay auction. It was like almost $7.00 total with S&H and Insurance. I am not a dime collector. Well wait. I guess I am now. But this caught my eye.

 

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red book 2004 gives a proof-65 price of 1.50 seems low but thats all i got.

never heard of that grading service either usually people prefer the main 2 grading services

 

maybe soom dealer decieded to set himself up as a grading service and slabbed all his own coins for extra profit.Seems like a good idea that actually

 

To be brutally honest, Numistrust (NTC) is considered in the lower tier of grading services in terms of how the market values the holder, and I'm being charitable there. Maybe they're not in the bottom-feeding group that includes third-party graders that sue numismatists for telling the truth about their grading standards and marketability, but still, the marketplace would generally assign a MUCH lower value to a PR-69 in an NTC slab than in a PCGS, NGC, ANACS or ICG slab.

 

Given that info would it be safe to assume that a coin costing $7.00 total and being sonically slabbed in even MS condition is not a bad deal considering the protection of the coin?

By the way here is there web site http://www.numistrust.com/about-grading.shtml

 

seems decent enough deal

sure you would get yer money back on it

 

Hope I dont get my money out of it. Hope one of my four boys do or thier childern If i can peak thier interest in this hobby.

 

Certainly you didn't get swindled. For seven bucks, what the heck -- if you like the coin, it's a nice pickup.

 

Maybe their orientation toward investors, not collectors, explains why you never see an NTC slab showing a grade lower than MS/PR 69.

 

We have been looking into getting some of our coins graded in the near future. We looked into PCGS, NGC, ICG, and NTC. The one thing that I like about NTC is that they provide a submission kit which makes it easier to be sure to keep the coins as protected as possible. As far as the market goes, however, PCGS and NGC still seem to control the slabbed market. As more grading companies pop up (see the old thread about the newest that I heard of: MCCS), I think that coins slabbed by companies such as NTC will increase in value because they will be perceived to have been graded by a company that is more established. Basically, the more fly-by-night companies that come into being, the better the value is going to be for coins that were slabbed even by the lesser known established companies. Just my opinion.

 

A schlock shop is a schlock shop, no matter how long it has been established!

 

I didn't say that I agreed with the trend. Human nature is what it is. Once a company has been around for a while with no major complaints or problems, I think people will place more value on their products. As more grading companies crop up and close down, the ones that survived will rise in most people's perceptions. Besides, the longer a company is in business, hopefully, the more educated and adroit they will become. It's the same with coins. The more counterfeits of a coin that are discovered, the more value is attached to the genuine article.

 

There are a number of "OLD" slabbing companies that state with fact that there have been no Major complaints. Maybe it is just the Bill Clinton definition being used. What is major? Is it the thousands of collectors that have been burned by overgraded coins, altered, counterfeit, cleaned, or otherwise altered. Is it lawsuits or settlements.

Only four companies are accepted in this hobby. While none are perfect, they are accepted hobby wide.

If you choose to buy some other slab, more power to you. Just don't be surprised when you can't give the coin away.

 

Do you suppose that national internet auction services have something to do with more of these two bit grading services popping up?

What I'm getting at there, is that in past years buyers had limited sources for their collecting - primarily being a dealer... a dealer with a physical shop has far too much to lose by risking his reputation with a second rate grading service...

But today, people can sell their goods online, and basically do business from out of their closet. If their reputation gets shot, they can change their ID, and poof! they are a new dealer.

I guess it doesn't really matter why, I was just theorizing. Sorry.

 

Personally, I agree with you. And I definitely don't want to appear like I'm sticking up for these half-a$$ed companies. I wouldn't send a coin to NTC because it is known that they overgrade. But I am hearing rumours that some of the reputable companies are starting to get a little lax in their grading. What happens then? I am just speculating on what could happen, not necessarily what will happen.

 

And yes, Rick, I think that the internet is a lot of what caused a lot of these companies to start.

 

Most of what I hear is that NGC is tightening up a bit, actually.

Anyway, for the most part, the issue comes into play with "hypergraded" modern coins (i.e. MS-67+). For circulated coins, there's often less of a difference in my experience, and there the main factor could be how well each company can weed out fakes (especially for key dates).

I can tell you, though, that in most of the coin discussions I hear, the general consensus is that NTC slabs aren't touched with a ten foot pole by many collectos...at any price. Yes, this can leave opportunities for some buyers, but if you're selling it, do you want them to have that opportunity to pluck it away on the cheap?

 

Heck no. I have bought a couple of collections that included NTC coins and they didn't sell well. At this point, I would break it out of the slab and sell it raw rather than leave it in an NTC slab. If I felt the grade was accurate and it was worth it, I'd send it to NGC to be regraded.

 

That's the spirit!

One thing I sometimes do is look through auctions for PCI-graded Morgans. Once upon a time, for at least part of their "green label" era, PCI's grading was rather conservative and often crossed over to PCGS at the same grade and sometimes even one point higher.

After that point, through some ownership changes and such, PCI's reputation started declining as they started overgrading a lot of coins. Most of these are in the red or gold labels. Many people throw out the baby with the bathwater, buying the holder and not the coin, and some properly graded, very nice green-label PCI coins are sold for a fraction of the PCGS/NGC prices. I got a really nice 1892-O Morgan, MS-63 and with a fabulous strike (that date is usually pitifully struck), for a little more than MS-60 money because of the slab. It's at NGC now and I fully expect it to come back as a 63.

If it's not in a green label, I usually pass, but if it's in a green labal, I look more closely at the coin. There are certainly some bargains there. Though maybe I should keep that a dirty little secret and reduce the competition.