Gold and Platinum coin question from Newbie

[pheinc-migration]

I have been collecting gold, platinum and silver coins for a few years now but have never sent any of the un-graded coins in to be graded. I am wondering if I should ... I have a number of uncircullated modern coins (eagles, krugurrands, philharmonics, pandas etc ect) and I am wondering it is worth the money having them graded. I appreciate any opinion on this subject. Thank you.

[stinkycheese1]

I have been collecting gold, platinum and silver coins for a few years now but have never sent any of the un-graded coins in to be graded. I am wondering if I should ... I have a number of uncircullated modern coins (eagles, krugurrands, philharmonics, pandas etc ect) and I am wondering it is worth the money having them graded. I appreciate any opinion on this subject. Thank you.

 

Most likely I do not see any reason to send them in for grading. They are only worth bullion value anyway.

 

IMHO the only ones that need to be graded and authenticated is pre 1933 gold which is heavily counterfeited.

[Just Bob]

Welcome to our little community, pheinc! I agree with Kevin - probably not worth the expense.

[EZ_E]

It all depends upon your collecting goals. If you choose to participate in the registry then, of course, they must be graded. It seems that you have a big headstart on the collection so it may be worthwhile to you to participate. It can be fun and is also a useful tool such as documenting your coins, and with a unique slab #, it is useful as an inventory list. The competitiveness can be fun and it motivates you to work towards a complete set.

 

The down side of collecting bullion coins, including the AGE's & APE's, is that they can only be sold at spot price unless sold to a collector. Many dealers actually offer less than melt. So, caveat emptor in buying PR/MS 70 coins. Keep buying raw as you do and avoid the hype of the 70 grade.

 

It sounds like the collector in you made some sound investment choices. Good job! (thumbs u

[BULLY]

I have been collecting gold, platinum and silver coins for a few years now but have never sent any of the un-graded coins in to be graded. I am wondering if I should ... I have a number of uncircullated modern coins (eagles, krugurrands, philharmonics, pandas etc ect) and I am wondering it is worth the money having them graded. I appreciate any opinion on this subject. Thank you.

 

 

I have a differing opinion, on the Pandas in particular. I'd get those babies certified, particularly if you ever want to consider re-sale. NGC has an article about the counterfeit pandas and exactly HOW GOOD the counterfeits are -- it's FRIGHTENING. Certified pandas could even re-assure YOU, depending on your source. It could also, as someone mentioned, allow you to participate in the NGC Registry Sets (Pandas are one of the World Coin Sets that are featured)

 

NGC certified pandas are the way to go! And at $16.50 (World Modern) per coin, it may provide a LOT of peace of mind for coins, many of which, RAW, are in such short supply they are commanding $60 and up!

 

http://www.ngccoin.com/news/viewarticle.aspx?NewsletterNewsArticleID=67

 

And apparently this has been going on a while, because this article was repeated, from an original back in 2005...

 

http://www.ngccoin.com/news/viewarticle.aspx?NewsletterNewsArticleID=35

 

Who says they only counterfeit HIGH VALUE coins?

 

My

 

 

[BULLY]

I have been collecting gold, platinum and silver coins for a few years now but have never sent any of the un-graded coins in to be graded. I am wondering if I should ... I have a number of uncircullated modern coins (eagles, krugurrands, philharmonics, pandas etc ect) and I am wondering it is worth the money having them graded. I appreciate any opinion on this subject. Thank you.

 

I agree, on the other hand, with EZ_E, that your goal makes a difference.

 

If you wish at to participate at all in the NGC Registry, graded coins are important.

 

I would also add, separate from my post about the concern for counterfeit pandas that makes them worthy of grading consideration, that grading Gold and Platinum Eagle coins can make them command premiums.

 

It's a tough call, but for some reason, the higher grade coins, especially MS/PF70 coins, seem to command a premium price with many collectors, and if you are selling, the mere fact that coins are graded may make coins more marketable.

 

However, for coins that don't reach premium grades (69 even, much less 70), the prices don't seem to be quite as strong, at least if you watch the auctions. Therefore, it makes it a struggle about whether to decide.

 

Perhaps ONE consideration could be to check the production numbers, specifically HOW MANY the mint produced for each of the years you have. For the years in which very few were produced, graded coins may be more desirable, and those may be something to start with.

 

A RULE OF MINE: It doesn't have to be an "all or nothing" proposition. You don't have to grade ALL of your coins or keep them all raw. If you have been collecting them for a few years, and you check the Red Book for production numbers on one year and happen to see that it's THE lowest mintage year EVER, perhaps that makes THOSE Eagle coins the ones that are worthy of grading.

 

Food for thought.

 

P.S.

Note on cost: If you did such a thing, even though these are valuable coins, if they are produced after 1955 I believe, and are U.S. coins (referring to the Eagles, gold or platinum bullion), you may submit them under the MODERN TIER with NGC, which is a mere $12.50 per coin. It requires a 5-coin minimum. Also, if you are a member here at the Collectors Society, or even an eBay member, you can get a 10% discount on your submission, which knocks it down to $11.25 per coin. For the possibility of high grade returns on low mintage items, and the re-sale potential, it could be very nominal cost, especially for the U.S. coins which are less expensive to grade, and especially if you don't do ALL of them at once, just focus on key ones with greater value potential due to lower mintage, which some collectors desire. Again, just something to consider.

 

I'm all about trying things, NOT about making it "all or nothing." I feel the same way about stocks.

 

If you have a stock that is performing well, do you sell it and make your money, or hold it

and hope it goes EVEN HIGHER? Well, why not sell SOME and make your profit, but hold some and that way if the price rises even more, you still make MORE MONEY. But then, if the price drops out, you still made your profits because you sold SOME. All about the middle-of-the-road moves.

[Larry Dreher]

Welcome to the forum.

 

I specialize in pandas so I'll direct my comments to them.

 

If you plan to keep them for the long term, I'd recommend at least freeing them from their PVC outer pouches. I'm writing a paper now that talks about long term storage of pandas but the basics are that the outer pouches contain PVC and even though the inner capulses protect them somewhat from PVC damage, that protection is not absolute.

 

If you collection is not long term (5+ years) it's probably ok to leave your pandas as is. The resale for double sealed pandas is higher (although I'm on a mission to change that)

 

Fakes are a problem as bully mentioned which might be a reason to buy certified pandas instead of raw if you are not really familiar with the series.

 

Good luck on your collection. If you have any panda questions at all fell free to PM me.

[BULLY]

Welcome to the forum.

 

I specialize in pandas so I'll direct my comments to them.

 

If you plan to keep them for the long term, I'd recommend at least freeing them from their PVC outer pouches. I'm writing a paper now that talks about long term storage of pandas but the basics are that the outer pouches contain PVC and even though the inner capulses protect them somewhat from PVC damage, that protection is not absolute.

 

If you collection is not long term (5+ years) it's probably ok to leave your pandas as is. The resale for double sealed pandas is higher (although I'm on a mission to change that)

 

Fakes are a problem as bully mentioned which might be a reason to buy certified pandas instead of raw if you are not really familiar with the series.

 

Good luck on your collection. If you have any panda questions at all fell free to PM me.

 

 

In the words of the great sage, Smokey Robinson, I second that emotion.

 

1. I've seen some of Larry's collection, here in the Registry Sets, AND what he's had for sale on eBay -- his panda collection and knowledge is IMPRESSIVE.

 

2. I must concur with the idea of removing outer wrappers, which is NOT unique to panda coins. I had the same problem with Britannia coins, and they discolored something AWFUL! I was very disturbed, since I just kept them as they were packaged from the British Royal Mint, and they were just a couple years old, kept in a climate controlled environment, away from light.

 

3. Then there is the issue with counterfeits, and my previous link applies, whether for your own security, or for reassurance to potential buyers if you plan to sell: in either case, NGC certification can make a world of difference! Read the articles from NGC at the links I provided in my previous post, even experts can be fooled, the savvy counterfeits are SHOCKING!