Discussion in 'Coin Chat' started by Kevinfred, Feb 23, 2014.
I have cracked a few out for my collection, but it seems almost wasteful...
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I have no doubt that there are still quite a few gorgeous, high end raw coins out there, but I agree that it gets tougher over time to find them.
not holdered, I wonder if I'm missing something. In the back of my mind I think: was this coin cracked because it was a problem coin and the seller is hoping somebody will gamble on it without knowing its history? I know that thought is not always rational, but its a thought that occurs to me nonetheless.
I think this is a common reaction that many folks have. Indeed, I will question a coin from time-to-time under this scenario, too.
i know exactly what you mean
I can't blame people for getting coins slabbed, makes them much easier to sell, and if the coin is on the verge of getting a higher grade, which could be worth hundreds more, then it makes sense to get them sent in.
There are still plenty of coins out there that cost more than they are worth to get slabbed. I mean why spend $30 to get a coin slabbed when it's worth $30? Common morgan dollars are a prime example.
Unless the price goes up, or fees get cheaper (seriously doubt the latter), then they will remain raw for a long time.
Hey Detecto, don't steal my idea! I have plans drawn up and ready to crack!
Many reasons , some just hate the very idea of slabs , or they may be filling a Dansco . Maybe the coin got Detailed , or the coin was dipped and they wanted it to tone a little . Want me to continue ?
So I can add it to the type set in a Capitol holder.
It's a collector thingy. Who the devil needs some old fools other opinion? It happens.....
This is how I feel when shopping online. In hand, I trust myself enough to not worry about it. But, not in photos online...to much can be missed in a photo.
Seriously ?? Just how many nice, or high quality, coins do you think there are ? And who exactly would be the owners of these collections ? And how did they manage to come by these high quality coins, unslabbed, without people in the business (who pretty much know where just about every high quality coin there is resides), knowing about it ? You don't just go pick high quality coins off trees. And how many of these people are going to spend 4, 5, and 6 figures for these coins - if the coins are raw ?
There are several things that come into play here. Not the least of which is how many coins have been slabbed. Currently, NGC and PCGS, by themselves, have slabbed over 50 million of them. And yeah, lets assume that half of those are moderns, that still leaves 25 million that aren't.
And who has all these raw, high quality coins ? You can argue the numbers, but there are maybe a million or two coin collectors out there - total. How many of those collect coins that cost those 4, 5, and 6 figures ? It's going to be a pretty small number. And of that number you could probably say pretty safely that, oh, 99% of them only collect slabbed coins.
And as I said before, how many high quality coins do you think still exist ? And maybe I should ask, how do you define high quality coins ? In the vast majority of cases a high quality coin is going to be MS, with a few of the more scarce ranging down to AU and XF. And of those, in most cases only the higher MS grades are going to be considered high quality. Now TPG population numbers, and the census numbers of coins that have been written about by the most knowledgeable people there are in the hobby put all of them at very low numbers. With many of those you could count them all on your fingers.
So where are all these high quality coins ? Are they hidden away in drawers and closets with their owners not even aware that they own them ? Yeah, there might be a few like that, but realistically, how many ? And if these coins are hidden away like that, then they aren't being stored properly are they ? And if they aren't stored properly, do you really think they are still high quality ? The ravages of time and toning would tell us that they are most definitely not.
So no, there are no appreciable numbers of raw, high quality coins out there sitting in the collections of secretive collectors. In the first place high quality coins don't exist in large numbers. In the second place collectors of high quality coins don't exist in large numbers. And in the third place very, very, very, few high quality coins still exist that are unknown - meaning nobody but their owner even knows they exist.
Now if you wish to deny that, be my guest. But I would find it akin to saying that the sun does not rise in the east.
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