Latest purchase--to slab or not to slab??

Just picked up this 1999 Silver Libertad 1 Onza from an extremely reliable dealer at a great price. It was sold as Gem BU, and I definitely agree. Since it is the second lowest mintage of the bullion issues with 95,000 (the 1998 is 67,000), it is often pricey when graded as a high grade gem. Since I have not bought too many 1 Onza raw coins, I just wanted to get a second opinion--do I send it into NGC?? It is really uncommon in grades in the 67-69 range. Note, the rub on the obverse right side is NOT on the coin--it is on the flip. Opinions, please?

 

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a waste of $'s to slab

 

But a beautiful design, both obverse & reverse.

 

Don't slab

 

Can't advise on slabbing since I know less than zilch about these, but it is gorgeous.

 

do not slab. if the slabbing fee's are more money than the coin... then it makes no sense to slab it. you will never recover the money spent on it.

 

The only reason to slab would be the low population. I have seen this date in 67 sell for almost $1000.

 

67 are on ebay now at $199.95 unsold. You must have seen the proof version only 600 made that year.

 

Sweet Onza...

Putting it in a holder would be for...1) You want that particular Third Party Grader's grading standards applied to it, just so that you have an "official" grade, and/or 2) You hope that with a high (67~70) grade, it will re-sell at a higher price than what you paid. But fees apply, you know.

Your choice.

 

Think I will just pick up an airtite big enough for it, or find a Banco de Mexico capsule on eBay. I guess I was confused with the proof on slabbing. No point in doing so.

 

Not worth the cost.

 

I would get a Coin World Preier Slab, you can get one on eBay or Wizzard supply

 

Don't slab it.

 

If you think it can get MS69 at PCGS - it will become a $350-450 coin based on the sales over the last few months.

 

The only reason to slab it is if you want to sell it, particularly now to arbitrage the price difference between raw and graded. The coin is almost certainly not remotely scarce in the grades you listed and the population counts in those grades isn't low either. Unless the prices are currently nominal, generically I don't believe most coins in this series are going to appreciate substantially because that would make it uncompetitive versus the alternatives (others from Mexico and other NCLT) competing against it.

The reason the population is low is because most of them remain ungraded. This is the norm for most non-US coins. As a 17 year coin, the lopsided majority almost certainly actually exist in those grades or near it.

 

I think you are underestimating the scarcity. True, many specimens have been unslabbed. However, high grade examples of 3 dates are fairly uncommon on the marker-- 1997, 1998, and 1999, aside from the proofs, which are quite uncommon. Ms 68 and MS 69 slabbed examples are not plentiful, and do command high prices. Moreover, it has low mintage as a worldwide bullion coin. My guess, looking at the coin is that if sent in, it would be a 68. I am not sending it, but will capsule it myself.

 

I don't believe I am underestimating its scarcity in these grades, though yes, it may not appear for sale often. The NGC population report lists 167 of 202 in grades of MS-67 or better. True, I will admit to you I don't know the actual quality distribution since I don't collect them and there MAY BE some "positive selection bias" where the best examples are disproportionately selected for submission.

However, I don't see any reason to believe the absolute number in these grades is particularly low, even if it is a low proportion. With a mintage of 97,000 for the 1999, I would expect it must be at least 5,000 combined because most owners are unlikely to bother to submit it for grading as they are buying it as bullion, not for collecting purposes or registry sets.

Also, while I presume a significant percentage are owned by US buyers (maybe most), non-US collectors disproportionately don't like TPG.

Lastly, the point I was trying to make on the proper perspective for the scarcity versus price is that it must include the alternative coins collectors of this series likely buy (or will consider) because almost no one buys any coin or series in a vacuum. For this series, I presume the primary competition is first, other NCLT such as Brittania and Pandas. And second, other Mexican coins such as crown sized pesos and Cap & Ray 8R.

At $450 for an MS-69 cited in a prior post here, I don't believe it is competitive at all versus Cap & Ray 8R, though I suspect the few willing to pay this price don't care and others collecting the series are unaware of it. (As with other moderns, I suspect most higher grades are "made" through "cherry picking" versus bought). Cap & Ray doesn't come in ultra grades but can be bought in a 64 or 65 for $450 (or less) for the more common dates and is vastly scarcer. Other NCLT, I don't know but don't believe the popularity of this series is disproportionately higher, though yes, I do understand it has a limited core following.

As for the proofs, my thoughts are similar. First, the supply is still much higher than most other coins in near equivalent quality which is the most valid comparison. So though the mintage is low, it isn't necessarily particularly meaningful. Second, there are an outsized percentage of low mintage coins. This reduces the significance of any particular coin because it is totally unrealistic to expect all of them to sell for "high" prices or else it will make the series completely unaffordable to most in its prospective collector base.

Sorry for my essay but just wanted to provide an adequate explanation.

 

Well, since you asked, I will give you my opinion....

I would not pay to have a "coin" (i.e., piece of bullion) like that one slabbed.

 

Me? I would put it a 41 mm Air-Tite. But, for you, since you are collecting High grade slabbed Libertads. Either send it off and hope for a high grade to match the rest of your collection, or purchase one already slabbed at the grade you want. I have many, many NCLT coins in my collection. All are in Air-Tites.

 

I'm with the 'no slab' crowd Dave. I never slab bullion.