NGC population reports for graded coins

This has been a very interesting thread. As a primarily US coin collector, the slabs make perfect sense to me - but I really understand where a lot of y'all are coming from!

 

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The new collector has one other choice whatever there budget level might be. That is to get over the idea that they will be making a profit on coins and buy coins they can afford realizing that they may never sell them. I have known several people for whom a $100 bill meant no more than a $1 does to me. There are people who have that feeling about gold bars. They can collect dekadrachms by die variety; I can't.

I had lunch; I put gas in my car; I bought a coin. I did not plan on reselling any of the three. Sure, I will sell some coins (for more than I will get for used food or gas) but I will sell the coins I want to sell, not those that are primed for profit. The hope for gain drives people to pay more than they themselves believe is appropriate for the coin or to buy coins that they do not want but feel they 'should' buy. If we buy only coins we can afford not to consider recoverable investments, we are free to enjoy them for what they are rather than what we hope they will be. Perhaps there will be a 'surprise' cash return before or after we die but that is not the reason to collect. When I die, some of my personal effects (cars, clothes and coins included) will be sold; some will be donated to charity; some will be kept by family to remember me by; some will be put in the trash. Which category is which is not a primary concern of mine now.

 

Everyone in the auction room during this sale was aghast at the prices. There is clear bifurcation in the market: people who know what coins "should" cost and people who have untold amounts of money to burn and will pay whatever it takes to say "I own this" without knowing thousands of other near-identical examples exist.

Paying whatever it takes is appropriate for some coins which represent truly unique opportunities but these are few and far between. Athens tetradrachms are most certainly not one of these opportunities.

I really hope these buyers won't end up resenting the coins they've purchased and that they do end up developing a true interest in what they're buying, not just trying to upgrade coins in higher graded holders or squabbling about 4/5 vs 5/5. That's one of the facets of US collecting that drove me away and it would be a shame for it to ruin an otherwise wonderful hobby.

 

The idea of slabs taking over ancient coins is depressing. Let’s all do our part though. Find one that’s trapped and set it free.

 

@Johnnie Black Been there, done that:





Will definitely have to do it again sometime...thats for sure. Got a big thrill destroying that slab. I want to do it to an NGC slab someday too.

 

Note there's a sneaky test cut on the edge which explains why this coin is gathering dust in the dealer's cabinet for some years now

 

No, the coin is gathering dust because $4,200 is still too much for a minty version of the coin, let alone $36,000. That tiny test cut on the edge will hardly have any impact on price, especially if you price it at what I think the market would consider a fair price for that type of coin in that condition, around $2,500 top.

 

I can't wait until I can get a slabbed Seleukos I Nikator tetradrachm in this awesome NGC resin!

 

That example is far from minty

 

Sallent, your indignation is misdirected, "What a farce, you are seeing what NGC wants to do to this hobby", it's not what NGC wants to do to the hobby it's their patrons, ancient coin collectors, are doing to the hobby. NGC is supplying a service to collectors because there is a demand for it. The lunacy of paying 36K for an Athenian Owl is another matter. Will more Athenian Owls equal in quality like the one that sold for 36K show-up? You can bet the farm that they will, & they will sell for a fraction of what this one did.

 

Someday I might get into the ancients market, but only for those coins made during a period I'm interested in. I'm more for specific periods of history than any perceived value. But for now, the only "ancients" I'll collect will be U.S. coins.