I did not bid on this slabbed trade dollar; good decision or not?

Sorry for being over-sensitive and not picking up on the joking. Thanks for all of your insight.

 

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It is okay, guy. We've all been through it. Just get the coin you like in the time you want to get it. If you want to post any coins and ask questions, fire away. That is what we are here for. Do listen to the folks that tell you to buy from a reputable dealer, and stay away from Ebay on Trade Dollars--don't even look there, as there are even counterfeit slabbed coins from lesser dealers. Stick with the names of the big boys that we gave you, and you will find "your coin" or "coins," as the case may be.

I am really in a different place, as my budget and my experience allow me to pull the trigger whenever I want, and my "impulse buys" aren't really impulses--I have learned the hard way over the years. DO hang in there, and find something that pleases you, but please stay away from the raw Trade Dollar stuff, and Ebay as a resource for that particular coin. Nobody is saying avoid the "bay" completely--I've bought a lot of coins there, and still do at times. It is just that this particular series has so many counterfeits and mutilated ones for sale there--be careful, and be prudent.

 

Exactly 'we've ALL been through it'. I bought my first TD raw and sent it to NGC. It was a great deal... but then it came back as AU details/imp. cleaned and I sold it - for much less than what I have paid for the coin, incl. shipping, customs duties & having it graded. Never ever again ;-)

 

Doug,

The absolute worst thing you can do when buying any coin is to be impatient. It will lead to buying coins you will later regret. I also visit another website that has a ton of very experienced collectors. To a man, they all will say this hobby is not an investment vehicle. The key to having coins that increase in value, maintain their value or that can withstand downward pricing trends, are to own nice, problem free coins.

Buy the best trade dollar you can find that meets your budget. My recommendation is to look for an XF-AU coin. Look on your grey sheet and identify the year in which the XF and AU are least expensive. Focus on that date (1875, 76 or 77) When you look at AU coins, often times you can find a better example than one graded Ms60-62. And you don't have to pay the extra for an MS coin. My first two gold pieces are AU coins and they are very nice. I preferred them to many low grade MS coins I looked at and the price was much more affordable.

Joe

 

Doug , all the advice given is very good , but don't forget one of the main things . That's learning about the coin you want . Read everything you can on trade dollars and counterfeits . That's as much or more fun than the coins themselves , also read about fake slabs , most have giveaways that show they're fake . Also ask questions , even the smallest question answered is more knowledge you have that you didn't have before . Start conversations with people you respect , 99.9% will share their knowledge willingly . And last and maybe most important know your limitations , some can buy raw Trades and have no problems , but most can't . I'm about 1/2 way there . Happy hunting .

 

The reality is nobody is foolproof including the tpg but they do have a guarantee as do most reputable dealers I feel confident on trades but would not call myself 100% I'd say 90 if I can hold it in hand the reality is I'm more likely to miss a problem than a fake tho especially when I'm in a hurry I've bought coins that look good in hand with a naked eye and when I examined with a loupe not so much for example

 

I'm wondering what the market is like for coins that are raw and not likely to grade other than details, if they are desirable/semi-desirable coins - such as the coins in a raw CC silver coin type set. Not exactly a low grade set, which is an interesting thing in itself, but like VF/XF raw, some environmental damage, some minor rim damage, etc. For example, I have a raw CC trade dollar that I bought from a reputable dealer a few years ago. It's a little beat up and I don't think it would grade without details, so I prefer to keep it raw - it might be XF details. It matches the other CC silver coins I have that are of similar quality - some might grade, but many wouldn't, but their cool - and you can actually touch them without risking serious damage! Isn't that a way to avoid fakes? Who would fake a damaged/details coin unless it was worth a whole lot of money? I don't know - is that a crazy strategy for certain sets of coins?

 

Agree completely. My budget allows for AU Trade Dollars, and I have bought a few. While I could financially get low grade MS ones for a bit more, I have a problem justifying the price to myself over high grade/attractive AU coins--IMHO, the AU is the bargain of Trade Dollars, as you don't pay over $1000 each for a coin that is probably the same grade as the AU 58 in reality (for a MS 60 or 61 Trade). Nice Trades of common dates go in the high $300s to about $500 and are super values.

 

I bought one MS Trade dollar in MS61 for over $1000 , I ended up taking it back as though it had a great strike and luster , I couldn't get over the milk spots . Plus $1000 is a lot of money to me , so why spend it when I couldn't enjoy the coin . I'd much rather have a nice AU coin , and as we all know some AU-58s are superior in eye appeal to low MS coins .

 

http://www.ebay.com/itm/1878-S-TRAD...83?pt=Coins_US_Individual&hash=item461a0c3fbb

Here is a nice Trade Dollar from a good seller (know him). The coin is attractive for an XF 45, and is priced decently. If I were looking--this is a good risk. IMHO, the grade is a bit low---could easily have been an AU 50.

 

Thanks. Looking at it now...

 

I bet it looks better in hand too . Definitely a coin to take a chance on as it can be returned if for some reason you don't like it . Good price too . Looks like it was never cleaned , heck If I just didn't buy the same year and MM and you weren't bidding I would have .

 

That's nice of you Morgandude to be on the look out for him.

 

Thanks. I know the angst of finding a nice coin. I never realized that the pop report for that date in XF 45 for PCGS is only 137. Pretty low, which shows how many mutilated and fake ones are out there. It is a common date, but survival rate in nice condition is low.

 

Doug I was in your similar boat. I am very OCD about my coinage so it look about 9 months to find a trade I liked.

Make sure and triple look over the dollar. Ultimately it's up to you. However, I'll endorse Morgan's choice in a dollar as a good choice if you do decide you like it, I'll second that dollar. Good luck.

 

The seller is a good one, I looked up the slab on PCGS and the numbers match, and the slab does look authentic. I think it is a safe bet.

 

The slab is authentic , unless the Chinese came out with some new ones .

 

Just looked at it my opinion that's one to buy price is fair and it's a real nice coin I'd be happy to own it my 1878-s is the one unc trade I have tho (NGC ms-63) a nice coin at a good price my opinion grab it before someone else does I trust morgandudes opinion if he knows the seller and I trust the coin

 

Really? I never knew they were that scarce I never looked up the pop reports on them me I got 2 78-s myself one at pcgs now my guess vf-20 and one NGC ms -63

 

There were millions minted of that date. However, I think the survival rate in nice condition ( read that, coins that are capable of making it into a slab) are not that many. Given the number of mutilated ones, and horribly cleaned ones, a coin that will make grade is less common--not rare for sure, but less common. That is why the Trade Dollar prices are high. The census for all Trades in all dates for NGC is only 6706, with 77s having 1300 slabbed in ALL grades, as most common.