So being quite new to the hobby, (but always enjoyed coins/money in general as long as I can remember) I have a general question with hopes that some folks will share their insights on this. After working with Walkers and Washington quarters, Morgans and Eagles have become my thing! Eagles I'm good with because they are "modern" and I have managed both a certified (including supplementals and proofs) and a complete raw set. As for Morgans, they have really grown on me, and now I've acquired quite the collection so far (spent nearly $7K so far). Most are raw, and I quickly rounded up the plentiful ones, and now for the pricey ones. Not really into the varieties; but if one strikes my fancy I'll go for it. I started buying graded/certified coins and I've cracked a few open to put them in an album - but...now I'm having second thoughts on this process. I guess I just like the physical coin in my hand! I'm torn between filling an album and keeping my new acquisitions in holders, and getting previous coins certified (or re-slabbed for the ones I removed). So...basically I'm just wondering how some of you go about this; and maybe provide a newbie some pros/cons on this before I get much further. Many thanks!
For the common coins in common grades, it really doesn't make much difference whether the coins are raw or slabbed. For the rare coins, and commons in extremely high grades, it does . . . they should be in holders. Since the rare coins should be slabbed, my opinion is that there is little to be gained by putting the remainder in an album. They might just as well be displayed in pages of 2x2's.
You spent $7K on (mostly) raw, common-date Morgans? I hope you know what you're doing because you can find all sorts of problem coins being sold as "nice" Morgans. Were any of the coins you "cracked out" from NGC or PCGS? Have you saved the inserts? You should return them to the grading services so they can amend their census. Otherwise, you have effectively skewed the population results. Chris
I hope so too, and I def appreciate the advice - that's why I stopped doing it! On good notes; most of the $$ was spent on the graded ones, and yes I kept the holders. I'll def return those holders - thanks for the input on that. Like I said def a newbie and Im sure Ive made my share of mistakes!
Welcome! Since you already know how addictive coin collecting is, I won’t belabor that point! Tuffcoins said it best. The high grade and rarer dates should remain in slabs. Mostly for your own protection. Our hobby has been diseased with Chinese counterfeits. So the slab protects you as well as anyone you may sell to in the future. But, that leaves another problem. Empty holes in coin books. Being the meticulous person that I am, I cannot stand empty holes in my books. I own a complete Mercury dime set. The 1916-D in my book is actually an old counterfeit. My genuine 1916-D is slabbed in my safe..... I have seen folks use Chinese counterfeits to plug holes in books while leaving the slabbed coin safe in their slab. Some folks are satisfied leaving the hole empty. It’s all up to you because your enjoyment of your collection is what is paramount here...... Welcome to collecting and welcome to CT!
Yeah...I hate the empty holes too! But...I want to do "the right thing" for the hobby too - I can adapt
If you want to keep most of your coins in the album, you could put paper discs in the holes with the Grade, Service and Cert No. typed on them.
The common dates are not a problem. High grades and rare dates should be slabbed for your protection. If the empty holes in an album bother you like it does me, then buy a raw low grade to fill that hole. Keep the better coins in their slabs. Welcome to CT.
I'm in the process of moving my State Quarters out of the cumbersome Whitman P-D folder that I bought back in 1999. It literally broke in half about 7 years ago, so I used packing tape on it to keep it together. I'm awaiting another supply of paper flips to finish the job I started over the weekend. I had thought for a while that I might just put the Ps into flips then buy a smaller folder that would house just the Ds. Then I decided that I would just get another box to house all of those D SQs along with the territories. As for Morgans, I don't have anywhere near $7K's worth of these, but only one of them is slabbed. I may buy some already slabbed as my collection of these grows, but as I have set a minimal standards for these, the cost of the semi-key date ones—such as the 1904-S that I'm browsing right now—is such that my monthly budget for coins could be exhausted on just one alone. There are more than enough raw Morgans available from reputable sellers that should enable all of us to have a pretty admirable collection. Let the others pay for the plastic cocoons.
I used to get 50c apiece for returning the labels. It's been many a year since I've sent them back because it takes so long to accumulate a meaningful quantity. Do they still pay for them? - Mike
LA.... I took mine out of the Whitman book a few years back for the very same reason. I put them in a Dansco book and that actually made for a very nice presentation.
I have one slabbed coin - the 1916-D Mercury Dime. It is in the slab and in my safe. In the folder is just noted "slab". The complete collection with one empty hole does bother me, but, it is going to have to work. I don't like slabs.
I appreciate everyone's input on this as well as the other commentary! As the "new kid" on the block - I'm soaking up any advice I can find. No local coin clubs or anything in my neck of the woods. Of course, I'm really no closer to my decision than I was this morning though I have rounded up some of the more pricey raw ones for submission; we'll see how far I get in actually sending them out. They all just look so nice in the album. I like Littleton's albums. Dansco's are nice too; but...they are slow to update as is the case with the 2nd Silver Eagle (incl proofs) album. Had to buy blank pages and label manually.
A question for the jury here: As Chinese counterfeits grow in number and freak out collectors, will that cut the demand for raw coins and make them more difficult to sell?
Now that a kool idea Randy. Should fill all my grandbabies books with those. They will love me more while i still here. Nah.
