GTG 1880-S $1

So what's your take on buying slabed coins that are incorrectly graded or attributed?
How do they assure the future?
And lastly have you read the thread on the Franklin half that not only graded incorrectly but tagged an S mint mark when it is a Philly struck coin.

 

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First, I want to clarify, I was not directing my message directly at you Paddy. I was stating my approach only, nothing more, but perhaps I could have structured my message a bit more clearly. In terms of incorrectly graded or attributed coins, I have no defense if I purchased the coin because, first and foremost, I liked the coin. If I make the same mistake the TPG made, then that is all on me. When I find a coin I like at a coin show, and a bit hesitant about my opinion I will ask one of my trusted dealers present to also go take a look at the coin. I am happy to say, my choices have always been great choices and very satisfactory purchases. Most of my purchases are done from these trusted dealers who understand the quality I am looking for in a coin...and I have the option of not purchasing the coin if we don't agree (seldom happens). Yes, I did read the thread regarding the Franklin, my personal opinion is the focus was on the slab and not the coin...could happen to anyone if caught up in the moment. From a personal standpoint, I have also seen (and on occasion purchased) several coins I felt were (correctly) superior to the grade on the slab. I enjoy the hobby and with my purchases/choices of the slabbed coins, expect to have a very nice collection I feel honored to own. Again.....nothing I said was directed at any individual, just describing my approach.

 

Well Kim you are correct to each their own... however it has been a life lesson that knowlege is power...it doesn't make you right...but it does give you the edge to understanding things from a different prospective .
Now not a attrack on you...but those who believe the label on a slab or rely on the option of others.....who for the most part will tell you what you want to hear.
Is not what this hobby is about.... this hobby has many levels,as does many things do in life.
Learning to grade or understanding the process is a priceless tool.
I do understand for the most part it is a personal choice.
And by all means it should be....
However my question is do you want to accept a challange? Do you want to understand the history why this coin was produced?
Do you want to be able to be able to hold your own in an exchange about a certain series?
Or do you just want to look at pretty medal circles mounted in a plastic holder?
And again there's many levels ..And again it is a personal choice.
My choice is to buy the coin not the holder, my choice is I want to share what I have learned,as well learn in the return.
Some believe that filling holes in an album makes you a collector....well I guess it does on some level ...but not on a level that will allow you to comand the respect of others whos passion drives them not only to appreciate small medal disc,but to be able to have the confidence to stand on their own.
One should always do what you do well....and what you don't do well ....you should pay someone who does ...to it for you.

 

This has become an interesting exchange Paddy, unlike many of the combative exchanges we frequently see on CT. I agree knowledge is power and I have tried to articulate that I trust my judgement of a coin's grade, over that of the TPG. I feel the slab provides physical protection of my investment, as well as another opinion which the market will generally agree with, my own included. I do study grading and test myself without reading labels, but now I feel I am defending my approach to collecting. I have very specific goals in mind for my collection, profit is not a motivator. I am not a history buff by any means, but I enjoy reading about the minting process and the history leading up to the minting of a specific type of coin I collect...but most of all I like to study the coins, in hand, that I have purchased. My choice too is to purchase the coin, not the holder, but I have explained my preference for the holder as well. I appreciate your desire and willingness to share your knowledge...personally, that is not my style, I am a bit more private in nature but trying to "come out of my shell." While I trust my opinion about each coin I purchase, the coins for which I seek an additional opinion are not inexpensive and many will seldom be found in my location, other than asking my trusted dealer to locate them at large shows I have no intention of attending (I have had my share of travelling). I agree with your quote, One should always do what you do well...in the end, we are always paying someone (sans detecting or other discoveries) for the choices we have made with our acquisitions. An interesting conversation over a beverage of choice this could be realized

 

Coins are not an investment! And as a collector of over 50 years I can surely attest to that on a personal level.
There are several key dates if tracked over a few decades one would certainly realize that fact.
And as far as slabs being protection goes... they may offer" You " peace of mind,but they are not air tight, and damage can occur to a coin slabed just as it can to a raw coin.
Investments are stocks , bonds, bullion,and even cull silver coins for tneir melt value.
The point you missed in my statement was "10 years" ago 90% of my collection "were raw" over the last decade my collection has grown as well items have been sold or traded.
At present I'm probably at 50% to 60/40 of raw to graded specimens.
Slabs have been busted out as well raw coins slabed.
But in the end I trust my eye and knowlege to make my purchases, only counting on the advise of others whom I trust who I consider to be on par with my experence.