Is this butchery

Discussion in 'Coin Chat' started by kaosleeroy108, Feb 10, 2017.

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  1. GDJMSP

    GDJMSP Numismatist Moderator

    My comment had nothing to do with that specific set you linked to, but rather coins in general.

    That said, I also agree with what Dick said, some coins (especially moderns) can be had much cheaper raw than they can in a slab. But even that has nothing to do with the true value of the coin, but rather with people paying too much for them simply because they are in a slab.

    Bottom line, the slab adds no monetary value to a coin - not ever. Yes it undoubtedly adds liquidity, makes it easier to sell, but never monetary value.

    edit - I will add this, and I think it is something that few recognize. There are cases where some people will actually pay more for a raw coin than they would if it were slabbed. Why ? Usually, it's because they don't really know how to grade - but think they do. And when they see the raw coin they assign it a grade that is higher than it will actually be given.

    And of course the opposite of that can also be true. A truly knowledgeable person can look at a raw coin and know exactly what any given TPG will grade it. While others, who don't know how to grade, looking at the same coin, will not. And thus they are unwilling to pay its true value. This gives a decided advantage to the one with the knowledge.
     
    Last edited: Feb 11, 2017
    GDJMSP, Feb 11, 2017
    #41 + Quote Reply
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  3. David Setree Rare Coins

    David Setree Rare Coins Well-Known Member

    As a buyer, this wouldn't bother me a bit. All it would mean to me is 10 or 12 hours of fun with my loop. Even when buying slabbed coins, I look at the coin, not the holder's grade. I get coins graded especially to sell to those people who buy the grade on the paper insert.

    This is why I send certain coins to certain graders. I know, for example that a certain company usually over grades classic gold coins. I can then sell that coin to someone who see's an AU55 grade on a coin that I bought raw from another dealer as an XF. This is ethically clean. It's just the way business has become in the world of TPG.

    Buy the coin. Not the slab.
     
    David Setree Rare Coins, Feb 11, 2017
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  4. chascat

    chascat Well-Known Member

    He did what he liked, but a bit eccentric of a move. Copper coins will most likely turn brown being in the Dansco. They stand a better chance of not turning if left in the plastic. From an investment standpoint, he did himself no favor. If I were to put the same set together, I,d only buy ungraded coins, to begin with.
     
    chascat, Feb 11, 2017
    #43 + Quote Reply
    ldhair likes this.
  5. davidh

    davidh soloist gnomic

    But sell the slab, not the coin?
    Ethics aren't something that are changable. A thing is either right OR wrong.
    I would say that having an XF coin overgraded to AU and then, knowing it's really XF, selling it as AU is morally and ethically wrong. But that's just me.
     
    davidh, Feb 11, 2017
    #44 + Quote Reply
  6. Earle42

    Earle42 Member

    Trying to be realistic here. Only the people who put faith in the abilities of the coninutally-being-shown-to-be-far-from-infallible TPGS see a loss of value.

    The coins remain as valuable as they actually ever were. If people were willing to pay for a TPG's opinion - that was their own money to spend. Its a psychological fact humans like an "expert's" stamp pf approval, so people will always shell out the money.

    However, it is very unreasonable to expect everyone to need the same security blanket coverage (not a negative term). It is therefore also unreasonable to expect everyone to think cracking a coin out is a waste of money.

    Personally, even if I had the money, I would need to see these in hand as the TPGs are known to make enough mistakes that I would want to buy the coins - not what the slabs/labels/stickers represent.
     
    Earle42, Feb 11, 2017
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    micbraun likes this.
  7. baseball21

    baseball21 Well-Known Member

    By definition though value is lost. The market has been severely limited to in person buyers and even then only a percentage of those. The smaller the market/lower the demand the lower the price.
     
    baseball21, Feb 11, 2017
    #46 + Quote Reply
  8. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    keep in mind i am saying this cause it is walking backwards
     
    kaosleeroy108, Feb 11, 2017
    #47 + Quote Reply
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