All, I have read to slab or not to slab FAQ section but still would like opinions concerning my own personal situation of new buys. In my case of just getting into collecting I have recently purchased (all Proofs): Qty: 2, 2006 1 ounce Gold Buffalos (straight from the Mint) Qty: 2, 2006 Silver American Eagles (straight from the Mint) Qty: 3, 230th Marine Corps Anniversary Silver Dollar (from sellers on Ebay) 1. Can you tell me if I ought to get any or all graded? 2. Also what are your thoughts on getting coins graded when purchased from the Mint? from Ebay? and proofs vs bullion in determining when to slab? Thanks ahead, Ryan
It is a gamble you are gambling the fact that they will grade high enough to off set the cost of getting them graded. The only way you can "stack the deck" is if you have the skills to properly grade high-grade coins and you can estimate the grade that the grading service will give the coin. If you are a gambler go for it! but know that you can loose.
Howdy Twentyseven - Welcome to the Forum !! I agree with zap, you should never submit modern coins for grading unless you are pretty dang sure of what the grade will be and that it will be 69 or 70. It's a waste of money to do otherwise.
Thanks for the inputs and welcomes. What you two say makes sense, but what I am having a hard time understanding as an engineer is how can proofs straight from the Mint be that different? I would assume that the Mint (perhaps wrongfully) has some of the greatest quality control on the planet, therefore rendering all it's brand new products virtually identical and flawless. But then I guess on the other hand they can't be perfect statically due to the great numbers of coins they produce...ie creating errors which everyone hopes to get there hands on. As far as gambling it seems to me that buying any new coin is a bit of gamble as the Mint withholds or hides there finally quantity minted for a few years correct? I mean you can take educated guesses but one never knows initially. Right?
What you are not taking into account is that even with the Proofs, many coins are struck with the same pair of dies. And each coin that is struck produces wear on the dies. So not all Proofs are equal even though they may appear to be to the untrained eye. As for the mint's quality control - it's the absolute pitts. Yes, it is gambling, if you are thinking of making a profit on your purchases. Your odds are about 50 - 50. For about half the time, sometimes even more, the value of mint products goes down after issue. That's why most experienced collectors will tell you that if you are going to collect mint products, or any other coins for that matter, do so because you like the coins - not because you expect to make a profit.
First of all welcome to the forum here twentyseven. I noticed everyone forgot to tell you as a new member you have to buy us all beers. At the next coin show in your area we will all meet and you buy. Now as an engineer you must be kidding about the Mint having quality control. Why should they? They are like the people on TV or the radio giving weather reports. They don't care what they do or say because they will get paid anyway. And the worst part of the Mint is our taxes pay for it all. I've always suspected that the USMint has a internal secret organization called the ECP group. That is the Error Coin Group. This group purposely allows error coins to go flying right out the door. Then another branch of that group broadcast this to the news media. This in turn starts everyone to hoard coins and insuring the necessity of the Mint to continue to produce more coins, working overtime if required and it's all done with our tax money. By the way I suspect the same people that work at the Mint also used to work for Ford producing the Edsel. As to getting coins graded and slabbed. Always remember that the coin must be worth the additional cost. For a coin worth less than say $30 or $40 it just wouldn't be worth it.
Most modern coins seem to sell for about the same price whether they are in the original mint packaging or slabbed, unless they grade a 70. I've purchased modern coins that were slabbed, but only if there was no premium to the unslabbed coins. So I don't think the TPG adds value in this case.
