How do you get the wholesale price for a slabbed coin?

Hi Folks,

I recently acquired some slabbed coins. I have never had any of these before. Though it makes figuring out the grade easy, figuring out the price is a little tricky. I have the greysheet and I am wondering if a slabbed coin (from a wholesale price) has any effect on the price. For instance, I have a slabbed MS65 1948 GW quarter. The wholesale bid price for this coins would be $30. Does the fact that it is slabbed change this price? Or is an MS65 just an MS65.

Best Regards,
Hal

 

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Well some people use the bluesheet for graded coins. Sometimes it is more, sometimes it is less. Personally, our firm only uses the greysheet. So the slab would not make a difference in our buy or sell price.
Not withstanding it is a good grading service

 

What grading company graded the coins???

Speedy

 

Thanks for the replies. The coins are in slabs from various companies. Most of them are NGC, followed by PCGS, followed by PCI. One is slabbed by a company called Tru Grade Service. I think the first 3 are reputable, but I have never heard of Tru Grade.

Now, I am a grading novice, so it is nice for me to see some examples of what "experts" say a particular grade is. Basically, I cannot grade beyond "Redbook" descriptions. "BU" is the highest I would ever try to grade anything. But, some of these are particular head scratchers. Some of the Franklins slabbed by NCG are some of the ugliest MS65's I have ever seen.

So, from what I gather, a slabbed coin does not really increase the value but it can make the coin more marketable and therefore perhaps more valuable.

Personally, I do not like the slabs. The are bulky and (to me) take away some of the joy of holding the coin. I mean, if a coin is really expensive, them I can see slabbing them. But, none of these coins are expensive. $30 at most. I have no idea why someone slabbed them. Maybe they were hoping for a higher grade and therefore higher value.

Best Regards,
- Hal

 

Hal
I would trust the grades that NGC and PCGS gave--but PCI and Tru Grade I would not.

Can you put a few photos on?????

I know what you mean an ugly high grade coins.

I bet the ugly coins are in a PCI or Tru Grade holder--am I right????

So, from what I gather, a slabbed coin does not really increase the value but it can make the coin more marketable and therefore perhaps more valuable.

Right on!!!!


Personally, I do not like the slabs. The are bulky and (to me) take away some of the joy of holding the coin. I mean, if a coin is really expensive, them I can see slabbing them. But, none of these coins are expensive. $30 at most. I have no idea why someone slabbed them. Maybe they were hoping for a higher grade and therefore higher value.

Right on---Some guys will send a coin in over and over again to get a better grade......Sometimes one grade more will mean thousands of dollars more.

Speedy

 

Hey there speedy, I am one of those guys who resubmit often. You are right, sometimes one number can make a huge difference. I honestly believe that the top three grading services do their best. I have met a number of graders over the years and I have a great respect for their efforts.
Now as far as PCI goes, I will use them at shows for quick turn around times when authenticity is needed. They are a little lax in their grading overall. Usually a point or so. They have a two hour turn around at the major shows. So when that 16-D merc needs to be authenticated, they are worth the trip to their table.
Slabs make it possible to buy sight unseen. The big three guarantee their grades, so some protection is there. I still rely a lot on the person selling the coin. Most seasoned collectors and dealers that I do regular business with can tell if the coin is off.

 

ND

I have only seen about 3 PCI slabs.....so I didn't know all about them.

Would you think I should get some of my coins slabbed.....I have asked some other guys and am still thinking.

The dates are:

1882-CC Morgan VG
1909-S Cent in VG
I'm in the middle of buying these next ones...
1897-s half dollar in G
1938-D half dollar in VG

Is this worth the $20-$30 bucks a coin to have them slabbed? The more and more I think about it, I kind of like the $20-$30 bucks more than the case that they would put around the coin.

Speedy

 

Speedy,

For my clients the only coins I ever recommend slabs for are the key dates. Mainly this is for authenticity.
Slabs offer protection for the most part.

If you are buying from a trusted dealer, and you are happy with the way they grade coins, you should never have to slab a coin.

We slab coins because it is easier to sell them that way. It has nothing to do with our personal preferrence.

If you truly know your coins, a slab is not necessary at all.

 

GDJMSP
I'm going to take you advise and get some more coins

ND
As I just said I've decided not to have them slabbed but I understand having "Keys" slabbed---so far I have a few slabbed but I have not paid for it.

Peter
I wish I knew how to grade...I'm working on it---BTW that would be a neat topic to start on CT tips on grading
I have gotten slabs on e-bay because I know that I can get "that" coin.

Speedy

 

Speedy,

Learning to grade takes a lot of effort and time. The best way to learn is to pick up a book on grading. The ANA guide or PhotoGrade. Both are the industry standards. Although neither is used, but that is another subject. After reading the book and practice viewing coins, you will start to pick up the nack of it.
If you have a friendly local dealer, go to his shop and look at the way they grade coins. Most dealers are happy to help as long as they have the time.
Take your grading book with you. I would suggest that you pick a series to start with. Learn where the high points of the coins are. Learn to pick out where coins wear and why. It will take time, but well worth it. Learning the difference between soft strikes and actual circulation can make cherry picking a lot easier. If you picked a still circulating coin like the Lincoln cent, you could literally view thousands of coins for free. Buy some rolls, and once you have viewed each coin, take them back to the bank.

 

What are the best grading places?
thanks

 

Do you mean services?

There are four that are regarded by most of us to be okay.

NGC
PCGS
Anacs
ICG

Any not listed should be avoided by the collector that is not very well versed in their coins.

 

What about PCC, PREMIER CERTIFIED COINS and SGS?
thanks

 

NO NO NO!!!

I bet that if you have a coin slabbed by SGS it will be MS-70 or PF-70

I don't know about PCC.

Now I'm not saying that if I saw a coin that I needed in a SGS or any other case that I wouldn't buy it you just need to be carefulll when you buy coins because some people will try to rip you off.

Speedy

 

Here's what I have on SGS coin grading...

Stay away from SGS grading . Here's why...first, there is no phone number listed for this "grading" service. Second, there is no business listed anywhere in the local business directory for that area. Third, their website is nothing more than a single page of pretty much nothing. Fourth and probably my biggest reason never to buy their graded coins again, they seem to work exclusively with an ebay seller, "Aboncom" that sells only SGS graded coins! This seller's address is listed in the SAME area as SGS coins! Makes you wanna go, "Hmmmmmmmmmmmmmm".

Also, 99% of their coins have a PR70 grading. Now, how in the world is that possible for this Ohio based company that started out in 2003 to acquire only MS70 or PR70 coins? Still, I was tempted to bid and and I bought two of these graded coins (Lincolns).

Bottom line, I was disappointed when I received them. The slab was made of cheap fishing-tackle plastic and the grade was not a PR70. Their "seal" was nothing more than a gold foil tape on the top and bottom of the slab. Their certificate was something that came out of a word.doc. I took this to my local dealer and he laughed at me. Not totally convinced, I sent them to PCGS (for a crossover) and they wouldn't grade them since I put PR68DCAM as the minimum grade. Both didn't make a PR68DCAM grade and they were both "SGS certified" as PR70DCAM!

Here's what I think is goiing on...Aboncom (ebay seller) set up their own grading service so that novice's like myself would gladly bid on a 70 grade. Why not? All looks good and this will surely drive up the bids as the ultimate "70 grade" gets wiggled in front of your face. I contacted them (email) and I was quickly "blocked" from doing any future business with Aboncom (the ebay seller). All this happened as I asked, "who is SGS grading and what is their phone number?".

Now it makes sense...both Aboncom and SGS reside in the same state and I bet they are very close to one another...if not one in the same! Aboncom and SGS slabs must by ONE in the SAME!! All the pieces fit!

Going forward, I only buy (sight unseen) PCGS, NGC and some ICG slabbed coins. A lesson I learned, so don't fall for the SGS PR70 grade when it is NOT!

Do a google search or an Ebay search for SGS and 99% come from Aboncom and the other 1% come from suckers that previously bought these "slabs" and now are looking to dump them.

So what happens when I loose $40...now it is the principle of the matter.

Don't let it happen to YOU!

 

Peter really touched on an important point when he said

"Slabs also make it a lot easier to buy sight-unseen."

As I recall that was the central idea behind coin certification...providing some liquidity to the coin market. This is important to the markets stability. For instance, a dealer in Atlanta can phone a dealer in Seattle with some PCGS ms65 morgans and the Seattle dealer can make an intelligent offer on them without seeing them. How? Because he knows what PCGS ms65 morgans look like. When grading is consistent, generic coins become very liquid and easy to buy/sell.
Yes there are times when a coin may not grade the same every time it's submitted but overall coin certification does our hobby a great service.

Also there are some coins that I think should be bought only when slabbed. 16-d merc, 09-s vdb, $3 gold, key date or high grade trade dollars to name a few. These coins are HIGHLY counterfeited and have been for years. Just because a 16-d merc came from someones grandfather does NOT mean it's real. Buy these coins slabbed and you'll KNOW it's genuine. Don't like the slab? Crack it out after you buy it. You'll still always have peace of mind about your coins authenticity. Buying key date coinage is always a risk, even for dealers. Certification of a highly counterfeited coin makes buying/selling them easier for everyone, imo.