Buy the Coin not the SAMPLE SLAB!

We have all heard the adage "Buy the coin not the slab." However, the people who are bidding on this E-Bay auction apparently did not get the memo.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=290272846934&ssPageName=STRK:MEWA:IT&ih=019

They are bidding on a 1923 Peace Dollar that is graded MS60 in an NGC sample slab. The seller states that the coin is undergraded by two points which would bring it to MS62. Forget the fact that it looks properly graded IMO, a 1923 Peace Dollar NGC MS62 is a $25 coin. They have bid this coin up to $70.

What in the world is going on here! No way is this coin worth that much money. Is there some kind of market for collecting unusual slabs? If there is such a market, they should create their own club and use the motto "buy the plastic not the coin." These people are going to pay 3X wholesale for a sample slab! And people give me the business for paying premiums for rainbow toning. Just unbelievable.

 

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perhaps they like the sample slab? its not too common is it?

 

I saw a Kennedy half with a PSGC label graded 62 and labeled as a Kenedy 1962. The guy standing next to me brought it for a premium

That coin is shiny and the fish love the bait.

Ruben

 

I shall now refer back to the title of the thread!

 

I know there are people out there who collect different types of slabs and sample slabs. I believe someone here does...but I can't think who.

 

haha, very true.

 

I have a 1964 10c PCGS rattler sample slab. I bought it because it was different. I paid $3.25 S/H included. I do know there are collectors out there who specialize in sample slabs. I have personally never seen this coin in a sample slab. Although sampleslab.com does not have the exact S/N combo I would say this is thier NGC 4. That site lists it at $140 to $200. So to a collector of these sample slabs I guess it's worth it.

 

The high bidder (897) loves those sample slabs. Search item number 290269629098

 

NGC could make a killing just selling empty slabs, apparently. Think of the time they'll save when they don't even need to verify and grade coins to place in them anymore. Boy...some people will buy just about anything...including 60 bucks for a 2 cent piece of plastic.
Guy~

 

Doesn't it also sadly reflect on how overheated the whole coin market has become? We've got this and people running around with microscopes and a whole bunch of kitchen metallurgists.

Do I smell smoke and the faint sounds of fiddling?

 

LOL - is there a registry set for sample slabs?

 

There are many that collect these. The seller in this auction is Cameron Kiefer. He is one of the good guys. Check out his site on sample slabs.
http://www.sampleslabs.com/

 

Nice site.
I've got a couple of his ICG 7.1.

 

For those who don't know Cameron, he is a grader at ICG. was voted the YN of 2002 I believe and a very astute up and coming force in numismatics.

 

Everything is collectible, including slabs. The condition of the coin is secondary to the slab collector.

 

There are fervent collectors of sample slabs. If you look at the aforementioned site, I actually sent in pics of a new type of sample slab I "discovered." I sent in the Blanchard 2 sample seen here: http://www.sampleslabs.com/blanchard.html

I actually got two of these coins in a mixed lot of stuff I bought. They both contained average 1961 proof cents. I got between $150 and $200 for each of them on eBay.

 

I love your icon

Ruben

 

Thanks Ruben. She is a cool looking bird.

 

one of my favorite coins. I with they would reuse that obverse




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