I agree, To be honest I dont hate them, I have bought coins in slabs because I felt the coin was just very nice or interesting example..like this one, its one of the very few coins I have in a slab: http://www.cachecoins.org/leopoldhre.htm I will look at a coin with an eye to buy slab or not and if it is, I dont break them out. The problem I have with it is the reflectivity of them in a normal light causing white areas here and there, locked away in plastic, only way to take it out is to ruin the holder, plastic and scratches...to each his own I say.
I agree with you there . BTW , very nice coin , that I would only buy slabbed because I'm clueless unless they're 19th or 20th century US . BTW . That's one ugly dude on an otherwise beautiful coin . JMO rzage
I would have bought it without a slab and might have gotten for cheaper...but it just caught my eye as such a nice example of a more rare type...and yes...no one has ever accused Leopold I of being a looker but he sure is recognizable...you always know Leo when you see him on a coin or portrait.
IMO, the "theory" is very valid, and goes something like this.... Collector passes away and leaves raw coins to realtives. Relatives have great difficulty assessing grade and thus value. They try to sell raw coin and get taken, or at best get offered less than the coin if it were in plastic. Collector passes away and leaves graded coins. Values are easily obtainable from Heritage, eBay, CDN, and a number of other venues. They try and sell the coin and now know the difference between a fair and unfair price. While I will not argue that a slabbed coin will ensure someone uninformed won't get taken, it certainly does help protect the uninformed from debate on the grade of the coin and aid in its liquidation. To deny this fact tells me that someone's not aware of what goes on when it comes time to sell raw and graded coins in today's market. As an aside, and to address your "inventory" statement -- I'm sure you are aware that coin values go up and down, and an inventory is only a snapshot in time. Respectfully submitted...Mike p.s. I have sold a grand total of 4 coins in my life (all upgrades/duplicates), so I am anything but a 'speculator'. Just because someone's interested in the future value of a coin doesn't mean they are a speculator -- just that they have an eye towards the future (I would call it prudence).
No, you missed the point again. If you read the entire post, you will see that I was pointing out that there are reasons to buy slabbed coins other than concern for others who may inherit them. Context is key. But yes, I happen to think the TPGs provide a valuable service. I also believe most are badly managed in the way they do business, but that's another story for another thread...
Your idea of an inventory must be different from mine. My inventory includes a description of each coin, when I got it, who I got it from, the amount I paid for it and the location such as album, box, etc. The description includes the date, grade and any description of color, flaws, etc. My inventory includes everything that might be on a slab plus additional information. Your slab might say your 1895-S quarter is graded AU-50. My inventory would say my 1895-S quarter was purchased in 2003 from X for $150, it is AU with slight wear only on the eagle's wing tips and Liberty's wreath, it has small scrape in the field below Liberty's chin and a small rim hit at 8 o'clock on the reverse. Overall brilliant with slight blue toning around outer reverse edge. Which system gives a descendent a better head start on selling the coin? Your is only a TPG opinion of what it is; my inventory is my TPG opinion of what it is. I don't know that a buyer would be overly impressed by either opinion. At least that's my opinion.
I understand the context of the post...you say 'well, if you are a person who only thinks of himself, a 'selfish person' then at least there are these other points that make a slab worthwhile. And I am saying that calling a person selfish because he doesnt slab his coins to make it a bit easier to sell once you pass away is patently absurd, to even attempt to classicy a person who has dropped a treasure trove of valuable coins on someone for nothing...selfish...just defies all logic. ...to each his own.
Clearly, the TPG grade would mean more to any prospective buyer than the owner's (likely optimistic and unobjective) opinion of the coin and how much he/she paid for the coin (which, again, is only a snapshot in time). To deny that says to me that you don't know much about how the buy side (of US coins at least) works in today's (and likely tomorrow's) market. Respectfully...Mike
Your going to update that every month. Keep the documentation with the coin, and that is what a slab does. opposition to slabbing is just bizarre IMO. You don't want the family to inherit your coins if they're not expert enough to value them? My god. What kind of position is this? Sell all your coins now then because tonight, go forbid, you can step off the curb and die in a hit and run, and no one deserving will inherit your COINS! Ruben
But david, your TPG opinion only has meaning to one person - you. The TPG opinion of the grading company has meaning to thousands & thousands of collectors/dealers.
GDJMSP Think back to the ANA show in Phoenix. Do you remember me describing the " beatdown " I received when I walked the floor " testing " selling raw coins to dealers? It was very educational and humbling to say the least. At that point, I made an effort to document and slab my personal collection to protect my wife and daughter in the case of an untimely demize ( of me, lol) I stated my reasons as a seller, but for those who collect for pleasure, you need every tool you can get. Slabs are a tool. Friends, reputable auction houses will help, but ( and I hate to say ) reality is an NGC or a PCGS slabber will mean maximum value for any heirs .
I do remember, I also remember how surprised you were. And I remember how surprised I was that you were surprised. I really didn't expect it from you. But it is something that everyone has to learn - I call it the facts of life. It is reality. But you are in good company Jack, I've seen it happen a thousand times if I've seen it once. Even happened to me - what seems like a hundred years ago.
Jack, thanks for sharing that. Many of may think that such things wouldn't happen to experienced dealers WITH experienced dealers, but they do!! And if it happens to dealers, it certainly would be the same or worse for novices. I take yours and GD's comments very much to heart. Of course it helps that I agree with them . Jim
Desert That was with no dealer badge and a handful of generic 64'ish Morgans, better date Lincolns and a cpl type coins. Doug had warned and given advise that every collector needs to do this on occasion to stay grounded in reality. I had never went " incognito " like that before with unknown dealers, even " RockStar National Dealers". I was following his advise, and playing the field. It was brutal. Lions VS Christians, guns vs knives, lol etc. And I knew what I was doing !!!! I pity the heir of such a collection if dropped in a lap without preperation. I sold some, made mental notes of the good/bad guys, and vowed never NEVER to put my family thru that.
