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NGC Purple Labels-What Do You Do?

11 posts in this topic

Looks like I will have two of these coming back from recent grading submission. I know what I plan to do with them but what do you/would you do? Leave them in the holder and just enjoy them? Break them out and put them in a Dansco? Send back for regrading? Are they difficult to sell with the purple label? I am sure it makes a difference as to what you would do depending if you are a collector or a dealer but I am interested in all perspectives.

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If I needed them for Danscos and didn't plan to fill the holes with detailed coins, then I'd just leave it in a slab. If the Dansco didn't matter, then I'd crack'em.

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Jim I don't submit either but I have purchased a few in purple holders. Mostly for crackouts to put in my dansco but one is still in the holder. It's really up to you, for me I have coins I enjoy owning and handling for the dansco, and then I have others in slabs that I consider investment quality.

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Jim,

 

This is a good question and I had hoped you would get better feed back also. I have a handfull of purple slabs sitting in my safe and I wonder what to do with them also. I bought the coins because I liked them and I still do but I hate the fact that I let my opinion of them get swayed because of NGC's opinion. I often look at them and think NGC got it wrong and just enjoy them. Especially a bust half I have that came back "reverse improperly cleaned" I have shown it to a couple dealers and both say they think NGC got it wrong. But what do you do, waste more grading fees? Luckily Im a collector at heart because to resale them they are sure to lose, even if someone agrees NGC may have been harsh in their judgement your not likely to get a fair offer. I will most likely crack mine out and enjoy them as raw coins.

 

Nick

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As one seasoned dealer told me the purple holders are "the kiss of death". Try selling those on ebay without reserve or anywhere else to get what you paid out of them! Good luck.

 

You can resubmit; I have done this with success then getting good numerical grades. You can put silver coins in Wayte Ramond holders and let them tone out, or put gold and silver coins on a sunny window sill, and let the elements hopefully tone them enough to get numerical grades, I have done this with remarkable success and have heard numerous others talking about success with this method.

 

There are many many traps awaiting buyers at coin shows in raw coins or even graded problem coins. Be careful! Armen Vartian has an article in the current CW on legal rights connected to returns, but it is copyright protected so I cannot quote at length from it.

 

Arguments show dealers make on why they have not submitted expensive coins for grading: They don't want to make the grading services rich. Translation, they are looking for someone to come along, take a shine to the coin and shell out real money. It is they that get wealthier and the collector or vest pocket poorer. Or they say that the grading services are arbitrary and favor only certain submitters--reality is there is an art of grading and some variation, but not that much.

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I would guess that the reason you didn't get many replies is because people don't like talking about their, I'm having a tough time picking the right word, I don't want to offend, mistakes, failures, I don't think either one is totally correct. But the closest I could come. sorry

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Well, I guess it depends on the circumstances.

 

I have one Morgan in a "purple" slab that I keep for reference.

 

I also have two other purple slabs that were part of my 42-medal ANA set. There are three medals for each of the years, 1969-1982, one 38mm silver, one 38mm bronze and one 19mm bronze. It seems that two of the 19mm bronze had been removed from their respective set at some point and place in a mount. I'm guessing it was either a pendant or a ring. Anyway, I figured it wouldn't be any big deal if these two "black sheep" remained with the rest of the flock.

 

Chris

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I also had a purple slab 1986 ASE. I cracked it out and sold it raw when silver was $45.00 and I paid $26.00 for it on Ebay. If you like it kkep it slabed if not sell it.

 

Happy Colleting,

 

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Ed

 

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