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pros and cons of getting your high grade moderns(or classics)graded by pcgs/ngc?

7 posts in this topic

 

 

 

FORUMS > PCGS SET REGISTRY FORUM [ REFRESH ]

 

Thread Title: Discussion of pros and cons of getting your high grade moderns (or classics) graded by pcgs/ngc

Created On Wednesday December 08, 2004 9:14 PM

 

 

 

haletj

Collector

 

Posts: 1651

Joined: May 2003

Wednesday December 08, 2004 9:14 PM

 

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From a collectors point of view of course...

 

Pros...

 

Can have a registry set.

Might be the best way to protect the coins.

Gives you a better idea of the grades and value of your coins.

Liquidity of duplicates if you upgrade.

 

Cons...

 

Costs a lot of money that could have been used for more coins.

Can't display a large set in a nice compact way.

The risk involved in shipping your coin to pcgs, it getting damaged (fingerprinted, or hazed over say) in the grading process, etc...

Changing grading standards could leave you with overgraded/undergraded coins worth not what you thought they were, or the need to get everything regraded.

 

Anyone else have anything to add? Am I crazy for collecting raw (or even cracking out) high grade moderns? Do you think the registry participants are a tiny fraction, or a large fraction, of the high grade modern collectors?

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as a collector as you say from a collectors point of view

 

if you are ONLY buying coins with discretionary funds

 

again as a collector

 

and you see a coin in a pcgs/ngc holder

 

and you specialize in such coins you are looking at in pcgs/ngc holders

 

and this particiular coin you are looking at in a pcgs holder is exceptional in terms of eye appeal

 

and has extraordinary special qualities

 

and you like the price

 

and you know the market

 

and it is a good value buy with the prices not hyped up by market manulipation or crazy market prices like in 1989

 

and *IF* the coin was broken out of its holder it CAN BE sold for at least 60% of its slab price .... hopefully more!!

 

then there are only pros with pcgs/ngc holders

 

 

if you cant follow all the above then many cons start to come into play

 

 

michael

 

 

 

comments??

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Anyone else have anything to add? Am I crazy for collecting raw (or even cracking out) high grade moderns? Do you think the registry participants are a tiny fraction, or a large fraction, of the high grade modern collectors?

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This just became relevant in another post and I skirted opining because it appears to be pretty variable depending on the series. Registry set collectors probably account for a significant part of the demand in all series but it ranges from a small fraction to a large fraction. This is based largely on the statements of those who follow the auctions and the individual coins. Also there is a "gut feel" built up over years of watching and some esoteric knowledge.

 

In series which have been collected only briefly like the clad Washingtons the registry demand is likely much of the demand for slabbed high grade coins. But for those which have been actively pursued for decades like the Ikes, many of the slabbed coins will go into older unregistered collections. There are a few raw high grade collections out there. I've talked to several individuals whom I met poking through mint sets. Most were looking for the big coins and a few were looking for cents or nickels. I've remet a few of these folks since joining the forums and at least some of these are no longer raw sets.

 

High grade moderns have a way of disappearing. There may be more collections out there than is apparent. But in any case it should be remembered that most of these sets were started only in the last ten years.

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What about the ASE Regular Strikes? Aren't these highly collectable in MS 69 and of course MS70. I have seen sets of these on Ebay (without 2000 Millenium Coin) go for as much as $600. Is there potential for these to increase in value over time, if say it gets to a 30 or 40 coin set.

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Michael,

 

I agree with your observations. Since Haletj was talking about submitting coins, as opposed to buying holdered coins, I'd like to comment briefly.

 

This past year was a quiet one for me, as I don't submit a coin unless I intend to sell it, and I've been busy building. In 2004, I submitted less than 50 coins to all services, and most were errors. My last submission was moderns, and was an NGC submission. I had a few nice raw dupes I wanted to sell to add to my coin fund. Below is the invoice. I missed getting a cam designation on the 5th coin, but it was a nice coin. The 1968 Ucam stayed in my collection because of it's incredible eye appeal.

 

newngc.jpg

 

I've read several threads here pronouncing the death of the modern market. I don't worry much anymore about what the coins I enjoy are worth. I just choose to submit coins I think are worth owning. I auctioned these coins in their NGC holders on Ebay a few weeks ago, with no reserve, each starting at $1. I did not reference any price guides in my listings, I realize these coins might fetch a good bit more money in PCGS plastic, but I chose not to cross them. I'm not opposed to profit, but frankly I just didn't feel like chasing submissions and worrying about the coins once I'd made a decision to sell them. I'd prefer this remain a hobby. wink.gif The coins fetched just over $2100, with 200 watchers and 50-60 bidders. My cost was largely sweat equity, doing something I enjoy. The money will stay in the hobby, as I will reinvest it in my collection.

 

Normally, I refrain from posting my activity, but I felt it important to demonstrate the health of the modern market among collectors. My coins did well because they are relatively difficult. They are not rare in terms relevant to classic coin collectors, but neither are they common. Much of the criticism of the modern market has some basis in fact, but I shake my head in amazement at some of the dismissive rhetoric aimed at those collectors who really do enjoy these coins. This market exists despite most dealer's and many collector's best efforts to discourage it. Dealers are fine folks, and market makers for expensive rarities when there is little other liquidity, but the collector driven modern market seems to be faring quite well in their absence. I see a growing base of collectors who understand the series they follow, who look beyond the plastic, the registries, and the marketing, and buy coins they like. The last half-dozen $1000+ moderns I've sold were in NGC plastic.

 

I appreciate the tone of your post. My comments aren't directed toward you, but rather intended to shed some light on this segment of the hobby. Moderns aren't dead. The market is growing up. The coins that fetch a premium now are more likely to be the coins that deserve one. Common coins are being revealed as such. There will be more of this revelation before the market fully matures, but in the end, there is and will be a collector driven market that has an eye for the coin, knows which coins are difficult, and understands their series. They'll be collectors. It'll be fun.

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Moderns aren't dead. The market is growing up. The coins that fetch a premium now are more likely to be the coins that deserve one. Common coins are being revealed as such. There will be more of this revelation before the market fully matures, but in the end, there is and will be a collector driven market that has an eye for the coin, knows which coins are difficult, and understands their series.

 

Excellent points Don. thumbsup2.gif

 

John

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Moderns aren't dead. The market is growing up. The coins that fetch a premium now are more likely to be the coins that deserve one. Common coins are being revealed as such. There will be more of this revelation before the market fully matures, but in the end, there is and will be a collector driven market that has an eye for the coin, knows which coins are difficult, and understands their series.

 

Excellent points Don. thumbsup2.gif

 

John

 

This is wisdom. thumbsup2.gif

 

Hoot

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Michael,

 

I agree with your observations. Since Haletj was talking about submitting coins, as opposed to buying holdered coins, I'd like to comment briefly.

 

This past year was a quiet one for me, as I don't submit a coin unless I intend to sell it, and I've been busy building. In 2004, I submitted less than 50 coins to all services, and most were errors. My last submission was moderns, and was an NGC submission. I had a few nice raw dupes I wanted to sell to add to my coin fund. Below is the invoice. I missed getting a cam designation on the 5th coin, but it was a nice coin. The 1968 Ucam stayed in my collection because of it's incredible eye appeal.

 

newngc.jpg

 

I've read several threads here pronouncing the death of the modern market. I don't worry much anymore about what the coins I enjoy are worth. I just choose to submit coins I think are worth owning. I auctioned these coins in their NGC holders on Ebay a few weeks ago, with no reserve, each starting at $1. I did not reference any price guides in my listings, I realize these coins might fetch a good bit more money in PCGS plastic, but I chose not to cross them. I'm not opposed to profit, but frankly I just didn't feel like chasing submissions and worrying about the coins once I'd made a decision to sell them. I'd prefer this remain a hobby. wink.gif The coins fetched just over $2100, with 200 watchers and 50-60 bidders. My cost was largely sweat equity, doing something I enjoy. The money will stay in the hobby, as I will reinvest it in my collection.

 

Normally, I refrain from posting my activity, but I felt it important to demonstrate the health of the modern market among collectors. My coins did well because they are relatively difficult. They are not rare in terms relevant to classic coin collectors, but neither are they common. Much of the criticism of the modern market has some basis in fact, but I shake my head in amazement at some of the dismissive rhetoric aimed at those collectors who really do enjoy these coins. This market exists despite most dealer's and many collector's best efforts to discourage it. Dealers are fine folks, and market makers for expensive rarities when there is little other liquidity, but the collector driven modern market seems to be faring quite well in their absence. I see a growing base of collectors who understand the series they follow, who look beyond the plastic, the registries, and the marketing, and buy coins they like. The last half-dozen $1000+ moderns I've sold were in NGC plastic.

 

I appreciate the tone of your post. My comments aren't directed toward you, but rather intended to shed some light on this segment of the hobby. Moderns aren't dead. The market is growing up. The coins that fetch a premium now are more likely to be the coins that deserve one. Common coins are being revealed as such. There will be more of this revelation before the market fully matures, but in the end, there is and will be a collector driven market that has an eye for the coin, knows which coins are difficult, and understands their series. They'll be collectors. It'll be fun.

 

Thx 4 adding the above. I appreciate that anyone can love any type coin.

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