1791 Washington cent on Pawn Stars

I think anybody can get a special label if they pay for it. I do not think it is special treatment - could be, but I do not think so. Of course I would not buy one.

 

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It's just marketing...NGC gets a little more for doing it and the Gold & Silver folks can sell the coins for a little more because they are now "special." It's just marketing. These people are in the business to make money. I doubt they are grading them any differently.

 

Rich, I am in agreement that they don't grade them any differently (though PCGS grading a piece of sandpaper MS64 certainly makes one wonder what the hell they are doing/thinking, along with the ANA gold Kennedy First Sold coin...things they do sometimes makes me really wonder). I'm just absolutely stunned that COIN grading co's do these 'extra' things to make money....and having graded coins selling for crazy $$ simply because a label makes it different is crazy. Example....take the Prez $$ series. Highest graded for 'First Strike' labels can be MS66, and it has it's own coin number. NON First Strike label highest graded can be MS67. That First Strike MS66 can fetch more than an MS67, simply because of a label, when in reality, MS66 is MS66, MS67 is MS67 (and obviously, a better grade than MS66, it SHOULD fetch MORE, but it doesn't) no matter the label. Seems collecting graded COINS has definitely given way to LABEL collecting....that is a far cry from what the hobby initially welcomed what the TPG's went into business for. COLLECT THE COIN, NOT THE LABEL!!! Perfect example, $100,000 (allegedly) for the 'First Sold' at Chicago. How crazy is that when the actual First Sold COULD have been at the Philly site, or the D.C. site? $100,000 for a label. First Strikes, which used to be the gold standard in label collecting, has already been usurped for First Sold. Let's not forget, First Strike sells for a few grand, vs First Sold for $100,000...how insane is that?? Registry sets....boy did they redefine how some collectors view the hobby.

I think I may need a break from coins. Too much to take in, when all I want to do is collect the best examples of coins, in the BEST GRADE within my reach. But we are being told, by the TPG's that a LABEL makes a coin more valuable? Maybe the TPG's need the break.

 

I don't like it either. I try and mentally detach this kind of behavior with their actual use...grading and authenticating coins. I simply refuse to pay a cent more than the coin is worth...so I don't own a single "special label" coin. I'm OK with that.

I'm torn. I understand the drive to expand their business and appeal to more people...that's just smart business. But, on the other hand I am annoyed to see this hobby have more gimmicks in it.

 

Rich, I couldn't have said it better myself...wondering if anyone could have put it as succinctly as that! WELL SAID, RICH! I'd give this the 'post of the ERA' award, not just 'post of the day'!!! lol