PCGS Sample Slab Label Error... slab-ologists, rare early and/or sample slab aficionados, questions.

I guess Ebay then is actually good for something (getting harder and harder to say these days).

 

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I still use ebay - very little any more. I still think in some cases it is your best avenue to re-coup cost of coins or make a profit. The reason why I use it so little is what I am looking for just does not seem to be there - or if it is it is priced to high. Recently I am finding some better prices with on line dealers for my albums. I did just buy a NGC large cent off ebay - to crack and add to my album. Price was a little high, but like the looks of the coin.

 

To crack meaning it was in a slab?

 

As the universe of collectors shrink (demand), so does the supply required to meet that demand and thus keep the price down, even on relatively rare items. This is what slab collectors face and to a lesser extent, variety collectors. While collecting rarer items, the price reflects the lesser demand while far more common items sell at a premium where there is a greater collector base.

For example. Most varieties of the 1799 and 1804 Large Cents are relatively common. But any coin from those years has a huge premium because of the demand by date collectors. This is while far rarer varieties of a more common date sell for far less.

This is basic economics applied to collectables.

 

So what is this sample thing? They grade a coin as an example of their service that wasn't actually submitted to them? er what?

 

Sample slabs were just to do a promotion for the slab, just about all grading companies did it and there is a large market of collectors for them. I have been collecting them for about 8 years now and the prices for some are really high.
PCGS also has put the wrong coin number on them and there is little extra preium for them. The Kennedy have can be found with a coin number on it for a 1963 Franklin (6704) and it is still the same price.
1921 Morgans have the coin number for the P but can be found with a D or S.
I have a set of rattlers for the Roosevelt dime all with 5120 coin numbers and they cover 1960 thru 1964 so I guess they are all in a sense errors but not any extra paid for them.

 

Isn't it true these *generally* were as samples of new slab formats when a TPG was changing their slab?

 

Your right, there is not a large market for samples but there is a market for them and they do sell. Some of them are expensive but many more are low priced as bullion coins.

 

Minus Listing Fee's and associated costs: http://www.ebay.com/itm/1964-KENNED...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

 

Here's a 1964 that's actually a 1964-D:

http://www.ebay.com/itm/1964-US-Ken...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

Not necessarily a fantastic price but a profit nine the less. (4 bidders)

 

Here's another:

http://www.ebay.com/itm/1964-KENNED...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

 

Both of these Kennedy's have the label wrong.
1964 is a coin number 6706
1964-D is 6707
1963 proof Franklin is 6704

To bad PCGS did not pat attention to the details when they were passing these out for free, to show off thier workmanship!

 

You misunderstood...that was their Christmas slab wishing Peace on Earth.... LOL!

 

The slab collector is the exception to the rule. Normally, you buy the coin, not the slab if you collect coins. But if you collect slabs, the opposite holds true. Buy the slab, not the coin if you collect slabs.

Slab errors are like coin errors. Some carry a premium like doubled dies and some don't like strike doubling. Sample slabs are like patterns, but far more common and with significantly less interest. But economically, the product doesn't move so the buy sell spread goes up if you can even find a buyer.

 

Are the grades supposed to be realistic?

 

If anyone here picked up the free sample cent slab at the PCGS table during the 2013 ANA conference in Rosemont, IL they should take a close look. The one I received, and the other two friends with me, is labeled as a 2012-D but contained a 2011-D Lincoln cent.


There is also a PCGS slab produced for the Diablo Numismatic society in April of 2013 that is labeled as a 2009-D, but the coin is a Philadelphia mint cent.


Such errors are not rare by any means, and even with the limited number of collectors the trading values are not usually significant. That said I have seen spirited bidding for some of the more unusual sample slabs, error or not.