Controllers of the Numismatic Hobby

@Kentucky: More like this:

 

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The existence of TPG's and the internet has given me a lot more control of my collecting. By buying coins that are slabbed I can enjoy them with the satisfaction of knowing that they have liquidity. Then, if I want to sell them, I'm not at the mercy of a dealer who might give me 50, 60 or 70 cents on the dollar. Instead I can use the "evil" EBay that so many people hate and get 87 cents on the dollar, or more if I'm smart about what I buy and sell. In fact I made money on the last 2 coins I sold. What would be the likelihood of me doing that 30 years ago before the TPG's "took over"?

 

I sell raw coins on eBay and I always get what they are worth. I have a 100% positive feedback because I do not deal in fake or altered coins. I also do not sell TPG slabbed coins unless I have one sent to me to sell on consignment for someone else. When I see a nice coin I want for my collection that is house in one of the slabs of plastic, I buy it and break it out. I really don't care what another person thinks my coin is worth, either he pays me what I think it's worth or he doesn't get it. I do buy and sell coins to make money, I buy and sell coins because I love the hobby. I'd rather give away a nice coin to a new or young collector to see them smile at having a great addition to their collection than make $100 profit selling it to them. Our hobby should not be about making money, but fun and friendship. Friendship got me started in this hobby as a kid and 60 years later that's the way I'd rather leave the hobby when I die. You can't take it with you.

 

I buy raw coins and I can enjoy them because I don't care if they have "liquidity". I don't buy them to sell them for more or to be able to sell them easily, I buy them because I LIKE them. They are bought with "entertainment" money and I don't expect to get entertainment money back. If I spent it on other forms of entertainment I don't expect to any of it back, so why should I worry about getting coin entertainment money back.

 

Even if you buy them to sell them, if you are selling to knowledgeable buyers, you have no problem.

 

That is true, knowledgeable collectors don't have to have a piece of plastic t tell them what it is.

 

So you can recycle it into more coins?

 

But if I sell them, then I don't HAVE them.

 

In person, sure, as long as you also don't care about alienating buyers who are only comfortable buying slabbed.

There are plenty of collectors out there with money to spend who have not yet obtained the knowledge to feel comfortable buying a particular series raw. Even knowledgeable buyers may rightly look for coins that are already slabbed, say for a series that is frequently faked, or where a coin may otherwise be questionable.

While anyone has the right to buy coins to crack them out, it's not a defensible position from a financial perspective as it weakens the liquidity (and often the realized value) of the coins. You can't hold on to the coins forever. Eventually, you or someone you know will have to sell your coins.

This is 2016. So much of coin trading volume occurs online. When you can't inspect a coin in hand before you buy it, you had better provide incredible pictures or a certification or else be prepared to deal with low bids and returns.

Out of the coins I buy, something close to 90% are from online transactions from eBay or various auction houses, and the rest at shows. Of those, 75% are raw. Now many of those are raw and aren't worth slabbing, but often I'll pick up a coin on the cheap and it will be a 66+ worth many times what I paid and I just stare at it and shake my head. Even when the seller lists the coin as a choice gem, who believes them? If the coin is worth more slabbed than the value of the raw coin + the grading fees, send it in.

 

The thing is, some of us REALLY DON'T CARE how much our heirs receive for our coins once we are through with them. I don't collect for their benefit--I collect for mine. That money is gone just as soon as it is spent--just like I consider anything I spend on a dinner and movie as gone. My recompense is in enjoyment--not financial gain.

 

No, not caring would be to get a slabbed coin, shrug, and leave it be. Buying slabbed coins and cracking them out just because you hate slabs is no different than buying certified signed sports memorabilia and throwing away the certifications.

I suppose if you own something you have every right to do that, but it's throwing away protection, liquidity, and value, basically out of spite.

 

I fail to see the spite involved in getting rid of what I consider unnecessary packaging. It interferes with my ability to fully enjoy looking at and researching all three sides of the coin.

I don't see any reason to buy a sealed roll and never look at what's inside, either. It simply makes no sense to me. Never has.

 

"Only"? Are they jacking them up, putting a gun to people's heads, and forcing people to buy at such "ridiculous" levels? No.... those ridiculous prices y'all are paying are, well, ridiculous because that's what your fellow collectors are willing to support.

 

What if that heir or yourself has a medical or another emergency and need to come up with money quickly, unexpected damage to the house/car ect. Can't assume life is going to go perfectly and a situation won't ever arise where you have to sell to cover something more important.

 

+1. This is me. I would not buy a raw 1877 IHC, 09-S VDB, 16-D dime, or any one of a number of coins raw from eBay under any circumstances. If we're talking about buying an 1877 from Rick Snow, then, yeah, I will buy raw, but not from someone I don't know to be knowledgeable in the series.

 

I would also add that those of us who buy online are relying on photos, which even if not deliberately "juiced" can be very unreliable. Therefore a TPG opinion helps reduce that risk, although a lot of crappy coins still end up in slabs.

As for selling raw coins online, I will admit that I am surprised at how much I've gotten for some of the ones I've sold. I go out of my way to describe raw coins accurately, even stating in the description that they are cleaned, and still get plenty of bids. I guess Ebay has made pretty much everything liquid.

 

Actually, yes I can. That's what savings are for. And that money is put aside before I spend a dime on coins, or movies or vacations, etc. Entertainment funds are just exactly that--entertainment.

 

Exactly. I would argue that someone who doesn't have savings to cover these types of emergencies shouldn't be collecting expensive coins to begin with. And, if the coins aren't expensive, they aren't going to net a lot of money in case of emergency, anyway.

 

Emergency situation expenses can easily out number the vast majority of peoples saving accounts. Numerous people have had to sell collections or large parts of collections at one point in their life because life does happen. You are obviously free to do whatever you want, you can melt all the coins down if you wanted they're your coins, it's just something for everyone else to consider. As collections grow to more sizeable amounts after many years of collecting there are a lot of advantages to keeping them in a marketable form that won't cause a blood bath on resale.