Things I Hate #1

Discussion in 'World Coins' started by Ardatirion, Jul 29, 2007.

  1. Ardatirion

    Ardatirion Où est mon poisson

    SLABBED ANCIENT COINS!
    :desk:
    Wow, this really gets me going. Several things that are wrong with the practice:

    1. Slabs aren't particularly safe for coins. Sure, they may prevent casual scratching or damage, but coins, bronze ones in particular, need to BREATH or they will never last another thousand years! (Just ask Early American Copper guys about this)

    2. The grades are completely irrelevant. Oo, look at that sestertius, its graded EF-40! Meanwhile, I can't read the damn legend, and its struck on an irregular square flan. Honestly, the best that you could do is Poor, Good, Fine, and FDC. All of which are self evident, really.

    3. The attribution is poor. I have yet to see a slabbed ancient with a reference number on it. And, generally, this is a pretty important thing to ancient collectors. Without it, you really have a difficult time double-checking the attribution. Also, it would NOT surprise me if theres a bunch of slabbed ancients out there with wrong attributions.

    4. C'mon, touch the darn coins! I'm not saying that you should go out there and start rubbing them like a pocket piece, but the point of collecting ancients really is to hold history in your hands, not a piece of plastic!


    But thats just my two denarii...

    (NOTE: This really is intended for ancient coins, I understand that it is an important part of American collecting, though I don't necessarily agree with it even there... but thats for another thread)
     
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  3. mikenoodle

    mikenoodle The Village Idiot Supporter

    Sorry if this comes off as a bit blunt, but...

    It makes absolutely no sense to me that someone would want to slab an ancient coin.
     
  4. Ardatirion

    Ardatirion Où est mon poisson

  5. Rangnath

    Rangnath Member

    Yes, I agree too. It is like putting the coin in a coffin. Maybe it makes sense if you want to deep freeze your MS-64 so that it doesn't become an MS-63, like a head of a baseball great, but why do it for a coin rich with history.
    richie
     
  6. GDJMSP

    GDJMSP Numismatist Moderator


    Typically it is done for authenticatrion purposes.
     
  7. Ardatirion

    Ardatirion Où est mon poisson

    To be entirely honest, I wouldn't trust any of the grading companies to authenticate an ancient. Especially if they don't give a reference and can't get a decent grade on the piece.
     
  8. Shortgapbob

    Shortgapbob Emerging Numismatist

    Oh, come on....you know you want to start playing the crackout game with ancients.....lol! Go after those upgrades!
     
  9. hamman88

    hamman88 Spare some change, sir?

    I have always laughed at slabbed ancients. It's so ridiculous.
     
  10. Drusus

    Drusus Pecunia non olet

    I tend to agree though I am not sure that bronze needs to breath, I am sure they would be just fine in slabs....

    No grading company can authenticate me coins...there are places to send them to be authenticated, one of the sabbing companies isnt one of them.
     
  11. willieboyd2

    willieboyd2 First Class Poster

    I would love for some archaeologist to find a Roman coin encased in glass with a note (in Latin):

    "Graded by NGS - Nero Grading Service"

    :)
     
  12. Drusus

    Drusus Pecunia non olet

    graded 'MS LXV' :)
     
  13. Cucumbor

    Cucumbor Well-Known Member

    I second that completly. We collectors of ancient HAVE TO touch them

    Cucumbor
     
  14. Dumanyu

    Dumanyu World Coin Collector

    It makes sense to me if I just paid $4000.00 for an ancient (which I haven't), but as for my others, the most money I've layed out is $170.00. Not enough for me to slap.
     

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  15. mikenoodle

    mikenoodle The Village Idiot Supporter

    Then why not just pay someone to authenticate it. Maybe someone who specializes in ancients. I guess what I am saying is that the big TPGs may not be knowledgeable enough in the field of ancients to attribute the coins properly. Authentication can be done by many others and one might find a better opinion as well as a better value for the services in places other than the TPGs.

    JHMO,

    mikenoodle
     
  16. tjenkins_1983

    tjenkins_1983 Numismaniac

    I'm getting to the point where I'm not really too thrilled with any slabbed pieces. I only own four really nice slabbed dollars, but everything else is raw. Ancient coins being slabbed is also ridiculous.
     
  17. GDJMSP

    GDJMSP Numismatist Moderator

    There is only 1 of the top TPGs that slab ancients - ICG, and they are very good at it. I can't recall the gentleman's name right off who does the authentivcation for them but he is one of the recognized authorities on the subject. As for cost, yeah there are private individuals who will authenticate ancients for you. But they charge more than ICG does.
     
  18. mikenoodle

    mikenoodle The Village Idiot Supporter

    point well taken. I guess my gist is that we as collectors need to stop taking a TPG slab as the end all for all coins. The older I get, the more I appreciate the TPGs for certifying coins like a 1916-D dime. I would never buy one that wasn't slabbed, but by the same token, I have seen so many misgraded coins in top TPG slabs that I would never equate TPG slabbed as better or more desireable simply for the slab. Unfortunately, I feel that many feel the opposite and if given a coin graded by a TPG as MS-65 would prefer it over a raw coin that accurately graded MS-66.

    I don't know how clearly I have said this. I am probably just rambling...
     
  19. Ardatirion

    Ardatirion Où est mon poisson

    David Sear, for example, authenticates coins. Authentication is a very iffy subject and very rarely something that can be absolutely gaurenteed. Heck, theres coins in the British Museum that have been found to be unnofficial issues. (Britannicus, for example)

    As for attribution and identification, I think I'm at least as good as ICG. (But theres ALWAYS more to learn!) You'd be better off posting images here - its cheaper! :-D
     
  20. GDJMSP

    GDJMSP Numismatist Moderator


    You said it quite well, and you're right - a coin being in a slab does not make it 1 cent more valuable than it would be raw. Being in the slab does however make it easier to sell. And that's the rub.

    Too many people mistakenly interpret easier to sell as being more valuable. It isn't. But you need to qualify the statement as well for it all depends upon your buyer. For instance - if you put a given coin up on ebay there is a certain type of buyer that is likely to see the coin. A lot of those buyers are poorly educated when it comes to coins and they have little if any idea of true value. Because of that the tend to pay more for slabbed coins even when they shouldn't.

    But if you offered the very same coin for sale raw or slabbed to a group of educated buyers - they would ignore the slab and the grade on it and bid what they knew the coin to be worth. It's just that simple.

    But that's the problem, there are not that many educated buyers out there and so it is much easier to sell a slabbed coin than it is a raw one. Especially if the coin has a value above a few hundred dollars.
     
  21. GDJMSP

    GDJMSP Numismatist Moderator

    But ICG does absolutely gaurantee authenticity if they slab it. If you prove otherwise, they pay you full market value. The individuals will not.
     
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