Should I buy slabs just for referance?

Hello. Currently, I am working on a partial set of Walking Lib halves. And also am buying some morgans on the side. (both raw). I'm trying to improve my grading skills in order to make more informed purchases. I just bought my first loupe, have been doing some reading about grading, and learning alot from this forum. However I'm still not very confident in my grading. I'm considering puschasing some NGC slabbed examples of Walkers and Morgans, just to have some graded coins in hand which I can compare to raw coins to get a better idea of their grade. Do you guys think thats a good idea? Has anyone else done something like this?
I'll appreciate any advice.
Thanks.

 

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Adam,

I have done this, but even with some good companies like PCGS and NGC and the like, I have some difficulty sometimes figuring out why somethimg was graded the way it was. For instance, the whole wear versus strike issue is really difficult for me and really can throw me off my MS grading.

Besides posting here, I think a more economical method for learning would be to attend a grading seminar at a coin show. I have not yet done this, but I bet that would be worthwile.

Just my $.02.

sf340flier

 

No I don't think you should do it IMHO (at least) not for that only reason.There's a lot more better and inexpensive ways to get and look at good examples of slabbed coins.It is good and useful to be good at grading because you may get some bargains but there's a lot more better ways to do that to.Like reading about it the way you are right now.Anyway that's my advice and opinion. Hoped that helped.

 

unfortunately the two series that you have mentioned are plagued with issues where the quality of the strike range from needle sharp to absolutely abysmal. This makes it very difficult to compare different coins (especially in the grades above VF, since a poor strike can be misinterpreted as wear and cause a faulty grade to be assigned. Here is a good example:




All three of those coins have the same numerical grade, but their strikes are very different!

An added problem for Walkers is that some of the grading points changed in 1921, so pre-21 coins are graded differently than the post-21 coins are graded.

Basically, what i'm saying is that while that method (buying slabs to use as a comarison) might work for statehood quarters, it isn't the best way to learn a more complicated series like Walkers or Morgans.

 

Cave Troll, you make a very good point about grading coins with differences in strike from year to year.

The only problem I see with using PCGS or NGC slabbed coins as references as far as grading standards, inrespect to teaching yourself how to grade, which I do by the way, is this:

ALL GRADED COINS ARE GRADED SUBJECTIVELY!!! Which means to me is that a MS65 could be a 64 or a 66 depending upon how the grader(s) decide that today.

Then again you have this factor: If you took five different MS65 coins from the same year and mint I'm sure your going to find one or two that are (in your eyes or opinion) better then the rest. Again subjectivity.

What to do? I have decided to study and learn all I can. Which means I'll make some mistakes, but learn from them. In time I hope to be able to grade MS and Proof coins with some of the best. Could take years, could take decades. But the reward will be getting great rare coins without paying a grading service premium.

 

also to take and put in the mix is what mint they are from--S mint coins have been known to have a weaker strike.

 

I think there is a lot of merit to doing this provided (1) all of the coins are from the same grading service [preferably PCGS or NGC] and (2) all of the coins carry the same date and mintmark. There are problems, as some people outlined above, but I still think that such an assembly of coins will help recognize how grades are determined. Another thing to consider is that if this method doesn't work, then probably no other method will work either. Maybe it's just a recognition that all grading is somewhat subjective anyway. I see no downside from doing what you suggest because it will be a pretty nice little collection that might have a bit more value as a group than as individual coins.

 

in regards to Walkers, you are correct (and all of my pics are of 40-S Walkers in NGC MS64), but with regard to Morgans you are completely wrong. The S mint Morgans tend to be the best struck coins and the O mint coins are the weakest with the Philly and CC issues generally in the middle somewhere.


I guess, I'm not saying it's a bad idea, I just want to point out that there are limitations to how useful a set like that could be.

 

Also, you may want to go to a few coin shows just to look at certified Morgans and Walkers in the grades you're collecting. Most dealers won't have a problem with you looking over their inventory and asking questions, and you can get a feel for what factors top-tier TPG's consider when grading a certain date, mintmark, or combo.

 

prehaps if some morgans were pictured for a ref. from someone ?? I would not have made such an error!!

Walker S mints are weaker,Walker S mints are weaker,Walker S mints are weaker




Join a local coin club!!! It works

 

Thanks for all of the responses. The set I'm working on is all walkers from the 30's and 40's. What I'm thinking of doing is buying an NGC slabbed MS-60 Walker from each of the 3 mints, and use those as a referance. What I'm trying to make sure I don't do, is buy an AU-58 and pay MS-62 price. In some cases its a pretty big price difference.

 

GDJMSP, I don't understand why not to use MS-60 coins. I know it will take years to learn how to grade, but right now my main objective is to be able to look at a walker and know that it is definately MS or definately AU.

 

Hi, Adam.

Are you collecting circulated coins, or high-grade BU's?

 

I'm shooting for MS-62's and 63's for my Walker set.

 

OK, so you are looking for commercial grade Uncs.

That gives you a lot of room for error.

Just be aware that a lot of AU coins are going to have more "eye appeal" than a low-grade commercial Unc.

If you're smart, you'll look for broken luster and discoloration, of the high points of the design.

The focal points for grading on the obverse are the hair above the temple, the right arm, left breast and left leg. On the reverse, the high points of the eagle's head, breast, legs and wings. Weakly struck spots are commonly found. These coins usually lack full head and hand details, but rub and luster should help you determin the difference between AU and Unc.

Also, a good reference book, on the subject, will give you the knowledge necessary to identify the typically weakly struck issues.

Good luck!

 

Thanks for the advice guys, you've been quite helpfull.

 

I would echo this advice. I think you will probably also find that in the real world (outside of the grading guides) au58 coins nearly always command prices in excess of MS60, 61, or 62 prices. People pay for eye appeal and buyers reward good looking au coins with low ms money.


In my opinion telling the difference between an ms63 and an au58 is one of the first big hurdles one must learn when buying raw coins because the true sliders can be deceptive. I would recommend comparing AU55, 58, ms63, and 64 coins to get a feel for what the difference is.