The sight unseen market

Discussion in 'US Coins Forum' started by TypeCoin971793, Jul 21, 2019.

  1. TypeCoin971793

    TypeCoin971793 Just a random nobody...

    I was perusing a dealer’s inventory of Peace Dollars, and thought I would try this. I spent about a minute picking the coins in question, so it’s not like I laboriously searched for my examples. All the pictures were taken with the same setup and lighting. Coin pics will be shared later.

    Ignoring the date and VAM, which is the nicest coin grade-wise?

    2B123550-5DB2-46B1-9BD2-3D6975D0FAFA.jpeg 35CCA745-E781-42E9-89C2-40CACC46ED7A.jpeg AE9450B1-1FEC-4415-8C53-52C434B24C3C.jpeg
     
    Johndoe2000$ likes this.
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  3. GDJMSP

    GDJMSP Numismatist Moderator

    Not really sure where you're going with this, but with any group of coins the answer will vary depending on the coins, regardless of what the plastic says.
     
  4. C-B-D

    C-B-D U.S. Type Coins or death!

    I buy sight unseen fairly frequently. 20% back of greysheet. The whole point is to buy the holder for resale, and not bother looking at the coin.
     
    TypeCoin971793 likes this.
  5. TypeCoin971793

    TypeCoin971793 Just a random nobody...

    My point. But this is supposed to simulate the sight-unseen market that the pro-TPG posters say that the TPGs protect.
     
  6. Seattlite86

    Seattlite86 Outspoken Member

    I don't understand why people post things like this just to stir controversy. Can't we be more productive/constructive with our time?
     
    micbraun, Penna_Boy and furryfrog02 like this.
  7. GDJMSP

    GDJMSP Numismatist Moderator

    Some actually consider it to be productive/constructive. How and why ? Simple, because it stimulates the acquisition of knowledge.
     
    PlanoSteve likes this.
  8. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    :rolleyes: This is exactly why I am a member here the pursuit of knowledge.

    A lot of us do not see it as controversy but more of reason to not blindly trust the company's that control the market.
     
    PlanoSteve and Johndoe2000$ like this.
  9. Seattlite86

    Seattlite86 Outspoken Member

    The framing of this suggests that it's not intended to stimulate but push a personal agenda. I'm happy to agree to disagree.
     
    Penna_Boy likes this.
  10. CircCam

    CircCam Douglas Fir...

    Anyone seen the blue “W” Sight White stickers? I spoke with the founder at a show and he explained that this subject is a key reason it exists- so dealers can buy certified coins sight unseen and trust that they will be solid coins with no distractions regardless of the technical grade. I.e. - if you’re buying an MS64 Morgan you know you won’t get it in hand and have it covered in spotty unattractive toning if it is a SW coin.
     
    C-B-D likes this.
  11. GDJMSP

    GDJMSP Numismatist Moderator

    As am I.

    Well, you're right, I do have an agenda - the pursuit of knowledge and truth.

    What's yours ?
     
  12. ksparrow

    ksparrow Coin Hoarder

    Basically, what CBD said.(I'm not a dealer) So my answer to the OP questions would be "I don't care."
    also, I've not heard of the SW stickers; sounds kind of like "CAC Lite?"
     
  13. TypeCoin971793

    TypeCoin971793 Just a random nobody...

    The only agenda that I am pushing is that not all coins of a given grade are the same. The label does not tell the whole story.
     
  14. CircCam

    CircCam Douglas Fir...

    Sort of, though I would guess a solid percentage of CAC certified coins wouldn’t receive it as a lot of those “strict originality” coins that CAC rewards would be deemed distracting. They’re also not charging anything for it at this time. As far as the sticker mania thing goes I think this particular one actually makes sense in regard to the OP subject.
     
  15. Penna_Boy

    Penna_Boy Just a nobody from the past

    If I believed every sticker that's used today I would have bought half the junk being sold. CAC, MAC, BW, PQ, SW, W, Wings and on it goes. Buying coins sight unseen = a fool and his money......
     
    Paul M. and Johndoe2000$ like this.
  16. ddddd

    ddddd Member

    I've seen a few but not enough to make a call on how accurate they are.

    If we're talking about a true sight-unseen market, I would guess the coins sold that way would tend to be weaker on average since anything nice would not make much sense to "give away" at sight unseen prices.

    Those W stickers could be useful though with online auctions where the photos aren't good enough to tell what the coin fully looks like.
     
    Johndoe2000$ likes this.
  17. C-B-D

    C-B-D U.S. Type Coins or death!

    Collectors shouldn't buy coins sight unseen. It's for dealers like me. I pay a flat price whether the coin is ugly, pretty, accurately graded, undergraded, or over graded. I do that because even at the price I pay (sight unseen), I know I can still flip it for a profit, even if it's a lousy coin.
     
  18. Johndoe2000$

    Johndoe2000$ Well-Known Member

    Exactly. For collectors, now more than ever, it is imperative to see the coin inside any holder. Due to "possible" gradeflation, fake slab, A.T., etc... buyers beware.
    JMO.
     
  19. Seattlite86

    Seattlite86 Outspoken Member

    You would be mistaken if you thought any of my comments about being constructive or having an agenda were somehow about you or directed to you...



    Also, still waiting on you to finish your pursuit of knowledge and truth in this conversation: https://www.cointalk.com/threads/minting-pennies.339546/page-2#post-3550023

    Been fun chatting ;)
     
  20. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    I'm actually very interested in seeing the results. Obviously, a careful OP could cherrypick the coins shown to prove his point and further an agenda - but I think there is something valuable to take away even from that.

    That being said, very, very few purchases by collectors these days are sight unseen.
     
    Ike Skywalker and Seattlite86 like this.
  21. Collecting Nut

    Collecting Nut Borderline Hoarder

    I buy the coin, not the slab.
     
    Penna_Boy likes this.
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