Something said in another thread ( Assuming it gets a 65* at NGC and a 65 at PCGS, which company should I send it to? In this case, "should" means "worth the most". ) makes me wonder about the effects of having a coin graded and slabbed. Does slabbing automatically translate into higher value when you're buying, or selling? I can see that if you're selling you could use the third party grading as a selling point but, when you're buying a slabbed coin, do you blindly accept the grader's grading, or do you do your own grading? It seems to me that slabbing is great protection for a coin, but grading should be up to, and an agreement between, the buyer and seller, not a third party. I should say that I'm not directly involved in collecting any more, ever since my $1500 face value collection was stolen in 1979 but I do buy gold coins for bullion value. I do look at a lot of common date lower grade slabbed gold. I haven't seen that slabbed coins of the type I look at are selling for any more than plain coins in hand. By the way, it may seem heretical to most here, but there is almost a religious feeling when you hold 8 or 10 $20 gold pieces in your hand and listen to them jingle together.
I agree with you that I really like their holders for the added protection for a coin. I also know that it's nice to be able to hold a coin in hand but some, I'd rather not have touched at all. So far, I respect the grading companies. Why shouldn't I? They are professionals doing this for a living day in and day out. They should be able to grade a coin and slab it more accurately than I or a small town dealer would. The people working at PCGS aren't college kids at a summer job. They're people that used to be in the coin business (that aren't even allowed to collect now) and have been in the hobby longer than I've been alive. On top of this, two professional graders have to agree on a coin's grade, without knowing what the other's choice was. If they don't agree, a third grader checks out the coin and his grade will decide it. Which will obviously agree with one or the other of the first two. Short of computers that have the ability to scan and grade coins automatically, I'd have to say it's the best we've got for now. This reminds me of how MLB has used umpires throughout it's history just because that's the way it is. We're now in an age that we could have computers monitor strike zones, base lines, foul balls, HRs, instant replays, etc., etc... But they continue to do it how it's always been done because it's easier and that's what everybody seems to be comfortable with. Error calls are just 'part of the game'. I think instant replay would be the right thing to do for baseball as it was the right thing to do for the NFL. Why anybody doesn't want the correct call is beyond me, even if it is at the expense of time. I'd also be for computer grading if they could do it because I think it would be more accurate than people. They've got computers that can sort produce. Why not have them grade coins as well? Well, got a little off topic but that's how I feel on grading. I'd rather buy a high dollar coin that's graded than not.
Never blindly accept anything. The slab is an opinion and nothing more. Granted, it's the concensus of three graders, all of whom are usually better than I. But they also move very quickly; I get more time to evaluate. And they're not the ones throwin' down the money at point of sale. You're right - grading is an agreement 'twixt buyer and seller. There is no doubt there is considerable difference between coins of a given grade / TPG. Not all PCGS MS64s are created equal ! Personally, I think slabs are a big plus to the hobby, but dangerous when used as a crutch.
Geee! Here I thought that I was someone, not something. The quick answer is yes, but... On eBay, who would I trust more - a seller I have never met or a TPG. I will take just about any valid TPG (not sgs, nnc, nes etc.). I have seen slabs go 2X to 4X what a raw coin would. Heritage and Teletrade will only accept slabbed coins. End of story there. In person, I still believe that most slabs will carry a premium. Some people will try to tell you that they will not pay for a slab, but having the authenticity verified as well as grade is worth something to most people. On the internet, you have little choice except to accept the TPG's opinion. In person, argue with the seller to your hearts content.
Didn't mean to dis you rim. I meant "Something [that was] said in another thread [by someone]..." Another related question - Are the criteria for grading the same for all types of coins and for all years? I know you can't directly compare one type against another, but if you have a 1796 One Cent with a measurable amount of wear and a Franklin Half with the same wear pattern, will they grade the same? Maybe a better comparison would be between a 1909S V.D.B. and a 2008 cent. My gut feeling is that the older, rarer coin will grade higher than a modern, common coin when they both show the same wear. Also, does an uncirculated weak strike coin (1921 Peace Dollar) with missing detail grade the same as a stongly struck coin circulated of the same type (1935 Peace Dollar) but showing the same loss of detail due to wear?
Didn't mean to dis you rim. I meant "Something [that was] said in another thread [by someone]..." Another related question - Are the criteria for grading the same for all types of coins and for all years? I know you can't directly compare one type against another, but if you have a 1796 One Cent with a measurable amount of wear and a Franklin Half with the same wear pattern, will they grade the same? Maybe a better comparison would be between a 1909S V.D.B. and a 2008 cent. My gut feeling is that the older, rarer coin will grade higher than a modern, common coin. Also, does an uncirculated weak strike coin (1921 Peace Dollar) with missing detail grade the same as a stongly struck coin circulated of the same type (1935 Peace Dollar) but showing the same loss of detail due to wear?
I think the top TPGs add value. The authentication aspect is very valuable, and having their opinion about the grade helps prevent getting totally ripped-off upon resale.
When at your next coin show, try telling the seller to crack out the coin, keep the plastic and you'll take the coin at the discounted raw price. Let me know if that works, lol.
By the way, it may seem heretical to most here, but there is almost a religious feeling when you hold 8 or 10 $20 gold pieces in your hand and listen to them jingle together.[/QUOTE] ..............but gee,........ don't you worry about fingerprints and nicks and rub marks?
Oh geez, sometimes one just can't win. Note the time I made the post; I was seeing double about then.
That is because lower grade circulated gold coins only sell for a small amount over bullion. Even in a slab it is still a circulated lower grade gold coin worth a little over bullion. The only thing a slab does in a case like that is to remove any doubt of authenticity. Not that that makes that much difference in this case either because even if it is fake it is still worth bullion value. Now for better date/higher value coins then yes the slab does generally mean a higher price because a lot of collectors do not trust their own grading skills but want to spend a lot of money on something they know nothing about. So they do want to blindly depend on the labels on the slabs.
When looking at a slabbed coin , of course I look at the grade first to judge cost , then at the coin to see if I agree with the grade , then if I agree with the grade is it borderline for the grade in either direction , I'd rather buy a 64 thats a nick away from a 65 , if it's closer to a 63 forgetaboutit . Like someone said before all 64s aren't created equal , some aren't even close . rzage
