IYHO... Best grading and slabbing service

Discussion in 'Coin Chat' started by moneycostingmemoney, Mar 29, 2017.

  1. The best grading service is NONE OF THEM. They don't use gloves, And yes, There is NO WAY that they won't get some fingerprints on your coin(s) that will show up in time. You buy brand new?, Leave it in the OGP... FWIW.
     
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  3. green18

    green18 Unknown member Sweet on Commemorative Coins

    They put them in (what we call) mint capsules which are pretty similar to 'air tights' (http://www.air-tites.com/).
     
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  4. samclemens3991

    samclemens3991 Well-Known Member

    The only advice I might offer is consider finding a few books on the area (s) of coin collecting that interest you the most.
    The added depth of knowledge learned by others can bear a profit in more ways than one. Wish you and your son the best of luck and hope you both make some great coin discoveries.
     
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  5. GDJMSP

    GDJMSP Numismatist Moderator

    moneycostingmemoney - Let me ask you a few questions here, and believe me I'm doing this for your benefit. To start, how is it that you expect to find a modern Lincoln that is worth $40, and yet only cost you 1 cent ?

    Just with that simple question alone there are many, many assumptions that must be made. First and foremost among them you have to first acquire the coin at face value - 1 cent. There are very few ways you can do that. You can get the coin in change, or you can buy rolls of coins at face value and search them. That's about it.

    Then you yourself must be able to identify or pick out a specific coin that you think meets your qualifications, that is worth the number you used, $40. To do that you have to grade the coin correctly and accurately. Can you do that ? Then, do you know what grade it would have to be for it to be worth $40 ? And perhaps more importantly, how do you determine that it is worth $40 to begin with ? Where do you go, where do you look to find out if a given coin is worth $40 ?

    So far there are 4 major assumptions that have been made:
    1 - you have to find the coin
    2 - you have to be able to accurately grade it yourself
    3 - you have know what grade is even worth $40
    4 - you have to know how to how find out what grade is worth $40 and what ones are not, where to look to even get that information

    As for #1, finding the coin is almost impossible. Only very rarely can it even be done.

    #2, you do not yet know how to grade coins by your own admission - you are just starting out in this hobby. Learning how to grade takes some people a lifetime, and even then they aren't very good at it. But let's say your lucky and you can teach yourself, but even if you are doing so will likely take several years.

    #3, what grade is worth $40 ? Is it MS65 RD, MS66 RD, MS67 RD, MS68 RD ? At the present time you don't know. And that brings us to #4.

    #4, so where do you look to find out ? Price guides maybe ? Well, there is not 1 price guide out there that is worth the paper it is printed on. Not a single one. The only accurate measure of a coin's value are actual realized sales prices. So OK, let's go get some from ebay. Sounds easy enough.

    And here's some recent actual realized prices from ebay for a 2016 MS67 RD cent.

    This first one sold for $189 -
    http://www.ebay.com/itm/2016-D-Linc...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

    The next, $31 -
    http://www.ebay.com/itm/NGC-2016-D-...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

    The next, $20.50 -
    http://www.ebay.com/itm/NGC-2016-D-...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

    The next, $10.50 -
    http://www.ebay.com/itm/NGC-2016-Li...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

    And the next, $8.50 -
    http://www.ebay.com/itm/2016-P-NGC-...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557


    So there you have 5 examples of a 2016 MS67 RD cent, all 5 graded by the top two grading companies, and all sold within the last 3 months. And yet the values range from $189 to $8.50 - for the very same coin. You tell me, what is that coin actually worth ?

    And please recognize, only 1 of those sales achieved your established value of $40.

    Are you beginning to get the idea, to see what the problems are with the scenario you are describing that you want to accomplish ? What I have done for you has just opened up a whole can of new questions. Hasn't it ? And if it hasn't, well it sure should have.

    This is what the folks here, some of them anyway, have been trying to tell you, to get you to understand. There is just a wealth of knowledge that one must first have before one even knows what coin is worthy of being sent in for grading. Let alone actually being able to accomplish it and then show a profit at the end. There are people who have been in this hobby for 30, 40, even 50 years and they still can't do it consistently.
     
  6. spirityoda

    spirityoda Coin Junky

    if it were me I would just use airtites on the silver bullion coins just to protect them from getting scratched up or dented. another reason to use TPG's is for authentication, but again the coin would have to be worth at least $100-1,000+
     
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  7. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    how on earth can a 2016 penny with 4 billion minted be worth $8 let alone worth 100+?

    Are new pennies really that hard to find in 67 or something?
     
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  8. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    In a word, yes. 67 is pretty uncommon.
     
  9. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    Interesting, had no idea.
     
  10. coinsareus10

    coinsareus10 Well-Known Member

    Most people learn how to ride a trike
    before jumping on a bike.
     
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  11. fish4uinmd

    fish4uinmd Well-Known Member

    I did not know this about ANACS in ref to Morgans...I have passed up several because they were in an ANACS slab. Thanks Dave...that's why you are @SuperDave
     
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  12. GDJMSP

    GDJMSP Numismatist Moderator

    Yes, ANACS is good for variety attribution. But when it comes to grading, not so much. Make sure you keep that in mind if you consider buying coins in ANACS slabs.

    For that matter make sure you keep it in mind when buying a coin in ANY slab ! What you should do is completely ignore the slab, regardless of whose slab it is, and only base your purchase decision on the coin itself. Of course to do that, YOU have to be capable of making that decision. Sadly, the reality is that very few are.
     
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  13. baseball21

    baseball21 Well-Known Member

    No one uses gloves and plenty of coins have been holdered for decades without finger prints.

    Depends if it's a PCGS one or NGC one. Those also weren't all the same mint part. The NGC P is a 10 dollar coin, the NGC D is a 20-30.

    There are numerous sales of the PCGS ones being well over a 100 dollar coin with either mint mark.
     
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  14. Insider

    Insider Talent on loan from...

    Best of all :troll:...when that one spot :jawdrop: develops on the coin in the slab...:bigtears::bigtears::bigtears::bigtears::bigtears:...and AFAIK, no TPGS guarantees copper anymore.:(
     
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  15. baseball21

    baseball21 Well-Known Member

    Not all will, but there is a reason copper stopped being guaranteed. You don't really have a coin with moderns though they're all going to be RD
     
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  16. Insider

    Insider Talent on loan from...

    Narrow thinking perhaps? At one time 1877 and 1914-D cents were mostly found in Uncirculated Red condition. Who knows about the Mint's current products in spite of their mintages. Nevertheless, you are correct, why should we care?
     
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  17. Baseball... Plenty? Yes, But not all, Especially if you're talking about coins in the $1,000 range on up. Up to you if you want to take that chance. I have seen plenty with the fingerprints. Plus, people these days buy the holder, NOT the coin.
     
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  18. baseball21

    baseball21 Well-Known Member

    I wouldn't be alive if I was around for either of those releases though. But also there are better storage methods and slabs now. I guess we will see in a 100 years but there is still old red copper and some is legit original.
     
  19. baseball21

    baseball21 Well-Known Member

    Gloves aren't necessary and are actually a detriment to handling a coin. And I hate to be the bearer of bad news, but all those old coins have been handled by bare hands before. They weren't wearing gloves in the 1700 or 1800s either
     
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  20. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Sorry, but literally ALL the formal training on handling coins that I am aware of teach NOT TO USE GLOVES. You are free to do what you want, but it is NOT "the thing" as the field is being taught these days.
     
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  21. I thought the cowboys and bartenders were wearing gloves when they bought the beers at the saloons and making the transactions with the silver dollars. Today, These "grading companies" are out for the buck. I grade my own coins and know they are authentic straight from the Mint or reputable companies. The capsules from the Mints are just as good ( sometimes better ) than the grading companies themselves. Look at all the issues with PCGS, With the gold especially.

     
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