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This is why I need to stop buying raw coins...
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<p>[QUOTE="wxcoin, post: 25239426, member: 74624"]I know that there are still exceptions. A few years back my LCS purchased a raw collection that was put together by a collector who passed away in 1948 and kept by his son and then grandson. The collection included many proof seated dimes and quarters in MS and proof. I purchased an 1882 proof quarter for $850 and sent it to PCGS who graded it PR64DCAM. I subsequently sold it in a GC auction where it sold fo well over $2K. I've purchased raw coins from a number of online auctions and my guess is that less than 50% straight grade. I've learned to be very cautious about red or red-brown copper cents as sellers photos can be very deceiving. That said, I once bought a 1914-S Lincoln cent from an online auction where it was listed as AU. The auction house was one who didn't typically sell coins so I took a chance. I sent the coin to PCGS where it graded out at MS63BN. I sold it for 10 times the $60 I spent to get it.</p><p>So the point of my dribble is to be cautious; especially from auction houses that primarily deal with coins. Raw coins are more likely than not to be details coins unless they are lower valued coins in which the grading costs wouldn't be worth the seller sending them in to be graded. Check with your LCS to see if they have recently purchased collections and are willing to sell you ones that they may be thinking about sending in to be graded.[/QUOTE]</p><p><br /></p>
[QUOTE="wxcoin, post: 25239426, member: 74624"]I know that there are still exceptions. A few years back my LCS purchased a raw collection that was put together by a collector who passed away in 1948 and kept by his son and then grandson. The collection included many proof seated dimes and quarters in MS and proof. I purchased an 1882 proof quarter for $850 and sent it to PCGS who graded it PR64DCAM. I subsequently sold it in a GC auction where it sold fo well over $2K. I've purchased raw coins from a number of online auctions and my guess is that less than 50% straight grade. I've learned to be very cautious about red or red-brown copper cents as sellers photos can be very deceiving. That said, I once bought a 1914-S Lincoln cent from an online auction where it was listed as AU. The auction house was one who didn't typically sell coins so I took a chance. I sent the coin to PCGS where it graded out at MS63BN. I sold it for 10 times the $60 I spent to get it. So the point of my dribble is to be cautious; especially from auction houses that primarily deal with coins. Raw coins are more likely than not to be details coins unless they are lower valued coins in which the grading costs wouldn't be worth the seller sending them in to be graded. Check with your LCS to see if they have recently purchased collections and are willing to sell you ones that they may be thinking about sending in to be graded.[/QUOTE]
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This is why I need to stop buying raw coins...
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