Rating coin grading service results

I understand your concern.

I have submitted coins to PCGS, NGC, ANACS, and ICG...not on any large scale as QVC, but I always got my coins back. I had the same concerns as you did so I photographed my coins to be sure. That is every tiny nick or blemish was documented so I could compare it to the coins I got back from these grading services. All came back with no issues.

My experience with dealers that I don't know personally is that when I am buying, their coin is a MS65 when I think it is < MS65, and when I am selling, that very coin to them is now a MS63. That is why I have submitted many of my decent coins to the TPG's so that their opinion is stated on the slab.

That way, if I have to liquidate and sell, I can post my coins as graded by ___ in this grade. It sure beats trying to sell that coin "raw" because it then becomes your judgment of the grade against the buyer...and the buyer will always try to convince you that "your" MS65 is only a MS63 or 64 at best.

 

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And, big if, the gold/silver market really "picks up" the graded coins from the top two slabbers (clear plastic body bags for some) might start to trade as currency - MIGHT.

Midas, sharp as a tack, has defined the reason above. Easy to buy hard to sell: or, yours is poor until I buy it then upgrade it quickly.

Kinda like being at a coin show and the announcer yells out, "Gold JUST went up $75 dollars today!" Try and find a gold coin for sale five minutes later.

For they WILL ALL BE in safekeeping until the prices stabilize. Unless of course the seller is brain-dead.

 

That is one reason why I like my dealer...when selling or buying we always decide about the grade...if I don't agree on it I ask why he graded it that...sometimes I'll pick up a coin that looks cleaned and he says he doesn't think it was cleaned...I just put it back since I do....but so far when I buy or sell...its never a better grade or never a lower grade than it really is....

Speedy

 

I don't get that... it's not that I disagree, I just don't even understand what you mean.

Gold goes up, people sell. So if that happens, I think you would find gold on every dealer's table (perhaps slightly marked up for the market). Because in this situation, people will be buying gold. If that's what people are buying, that's what sellers will be selling.

 

1- If the gold price really picks-up the currency prices around the world will probably go down: therefore, the ultimate currency, gold, will REALLY go up and the pre-slabed gold coins attest to the public of toward a major authenticity when they investigate the nuismatic marketplace.

Gold and fiat are almost mirror images of opposites - until just recently when gold (the ultimate currency) has shown its strength by rising against most the world's currencies even the US dollar when it was rising - again, just a recent situation.

People have been known to flee paper and flock to gold as a store of value.
The PCGS and NGC companies have added a new veracity to the slabbing process - a major degree of honesty.

2- If the gold price went up to a great extent during the day many gold sellers of bullion would always sell at the current price: however, at a coin show the astute gold coin seller would use his head and probably pull his merchandise to see if the marketplace was picking-up like they saw it in 1978-1980 or 1988-1990 periods.

 

well, I guess I'll just say that I disagree with both of those points.

 

on topic however, I did just purchase my first certified coin - coins actually. I purchased 2 spanish mexico 1 real coins certified XF and AU by NGC... that's a whole lot of letters.

 

Rick---I agree with you...people would be selling faster and more so if gold went up...

WOW...you got your first slabbed coin!!!...way to go...see they aren't bad are they....they look great...you want more...

Speedy

 

I haven't received them in hand, yet... but I made the purchase.

I am trying to decide whether to keep them slabbed or not. I probably will, since they are the first in my collection.

 

Well I understand your viewpoint. And like George S. Patton said, "If we are all thinking alike NOBODY is thinking."

Please keep in mind that the so-called experts figure that the world FIAT system has about 450 trillion dollars in today's money. (Much of that IS in unsupervised hidden "derratives" like those now affecting Freddie and Fannie Mac - in the past Enron - who was a commodity trader) And that in today's money the world has only about ONE trillion dollars worth of gold: and only about half-trillion in silver above ground since time began.

At the last run-up in gold (silver) we only had perhaps 10% of that 450 trillion dollars. A trillion seconds counted one-by-one takes about thirty-two thousand, six-hundred years to pass by.

Imagine what could happen to precious metal coin collections which get a three-way rise on precious metal value plus the rarity and recognizable values.

That's all.

Here's the OFFICIAL figures (minus the derratives and over the counter central bank traders): note the difference in percentages since 1974 when the money supply was only one-tenth of today's money supply - that's why houses, cars, boats, planes cost ten times more. Old Senator Daniel Webster of dictionary fame mentioned, "Only one in hundred thousand can see how inflation robs them."

http://www.federalreserve.gov/releases/h6/hist/h6hist1.txt

 

On a positive note I can not think of another way to preserve your inflationary value of state monies then in beautiful precious metal coins.

And the above Federal Reserve figures makes it almost a 100% probability that they will increase the money supply. Kinda like second place to death and taxes. The real sure things.

Oh, and that's A BIG ONE to tell the other loved one in the nest.

"Don't worry Honey, I taking care of us and really preserving our net wealth!" As you are leaving to buy your next favorite precious metal coin. Rubbing your hands together.

Some like the $20 gold Saint Gaudens' pre-1933 are rather remarkable pieces of art. I like the old Morgan's too. Imagine BOTH in entire sets in MS66-67:
now I would call that -

PRICELESS! I would.

 

well, again, I think this logic is a little twisted, but I don't know how it relates to coin grading services...

Suffice it to say that gold is not in a vacuum - whereas it has a history of being tied to social monetary systems, it no longer is. If the value of a dollar drops significantly, does that effect the value of gold, sure... the same could be said for cheese, if the dollar drops enough, I have twice as much value in cheese in my fridge in relation to dollars... but I have the exact same value in cheese in relation to other commodities.

 

Wasn't it ANACS that started in the late 70's???...if so then we did have them...

Even today that same thing can happen and slabs are not going to do a thing about it...many people are outsmarted everyday about coins and such...

Again...I think when Silver..or gold...or any metal like that goes up...people are going to sell...because when silver goes up people start buying more IMO...and that will make dealers want to sell more and faster!

Speedy

 

I'd be pretty mad at my uncle... that would be *the uncle* we don't talk about...

but even still, even were the coins graded and certified, prices are determined between the buyer and the seller - which is still going to be subject to a case by case basis. But the slabs probably help in a lot of cases, that's for sure.

 

Before I would say if the uncle was wrong or anything I would want a few more questions asked....

When you sold this coin to him...did both of you agree on the price...did he name a price and you said ok...or did he hold a gun to your head and make you say yes...

You see...if you agreed to that price then you have nothing to complain about...

Speedy

 

yeah... but he was 10. at 10, kids still have a natural tendency to trust adults.

I mean, I don't know, either - maybe they were really low grade coins, and at the time the market might not have been very good for them... plus it was in the 50s, so maybe ten bucks was not unheard of...

 

Yeah, and ten bucks would BUY 300 (three hundred) of your favorite candy bars at Sav-On Drugs in Norwalk, CA. I found out the catalog value after the fact and sale of the coins. Then it was in the Red book of around $60.00 in my childhood memory bank.

A few years later my mother's older brother was collcting second trust deeds in Watts, CA, for my grandfather. Then one of the "unhappy" PAYEES decided to use a crowbar on my poor uncle's head instead of giving him the green stuff we call money. Let's just say I was not overly sad at the time.

RICK, you are really assute. You should be a detective.

Back in the 1970s we had that above slab company but the fly-by-night others were the ones that BURNT the hobby for the investors got, shall we politely mention, got taken to the cleaners. The coins when sold were high graded: and when bought back low graded.

PCGS and NGC might stop that type practice in the future and just let the marketplace decide.