Your opinion on having Proof coins Graded 1 1

[crok]

here is why you should get these coins graded and slabbed.

firstly these coins are obviously in high grade condition, true you have no idea if those airtites have ever been opened in the past but these coins are obviously high grade.

next is that they are PROOF coins and not bullion or mint state MS coins.

these coins came to you for zero dollars , so how can you lose money by having them graded

let us assume each coin is worth a hundred dollars , depending on family dynamics if these coinscame from your parents you might value the $100 at fifty dollars (j/k) but ssome people have issues LoL.

but these coins came from your grandmother so to you they are probably worth $500 !!! so who cares about the fifty dollars for grading

to future generations their family value should be even higher.

when it comes to selling no one can argue with the slab grade realistically.

it is becasue of con men / women and such that grading has become so essential.

but what the slab does is tells you nd everyone else that the coin is real genuine and that it is exactly what it is, their is no disputing its minting etc like some dealers would try to mislead you on if they felt they could save buying money.

you will know what you own and be able to easily gestimate its value online 24/7 forever ! ! !

your insurance company will be happier also, and if you have found a very rare modern proof it ill be statd on the holder.

even if three coins comeback as 67 or 68 it easy to find someone to crack them out of the slab and replace them in the airties and sell as raw coins.

another factor is everyone has an opinionof the best basketball or football teams etc. , grading takes much of those rguments aay and protects yourcoins the best way possible.

you got to understand that all the other comments here are most likely fromcoin fanatics ho have spents many MANY thousands of hours gaining their knowledge with much experience in travelling and buying and selling , do you REALLY want to invest yourself into all of that

hopeyou enjoy your coins and continue to find coins exciting !!!

 

 

 

 

 

 

[GoldFinger1969]

You can buy Proof Gold coins at $75 (~3-4%) over bullion price, PF70.  Very minimal price to pay for the grade, protection, and confirmation that the coin is legit.

Edited March 30, 2021 by GoldFinger1969

[crok]

i would just like to say a bit about third party grading , it has forced a lot of the bad influences out of the coin collecting industry and we are all the better for that.

the laws of supply and demand means we need buyers with money interested in our coins, its essential for the hobby's future.

and TPG does give many people confidence that a coin is real and in good condition.

Remember that people compete in registry sets and pay a premium forthe ultra high grades, but you gotta remeber to that office politics play a part for graders like most other jobs.

imagine a company have five graders who each grade 500 coins per day. After a week the boss looks at the stats, : grader 1 gave out 35/68's, 912/69's and the rest 70's, similar for grder's 2 and 3 and 4 and grader five (for similar coins) gave out 4990/70's and five 69's...

How long would the boss keep this person on the books ?????

their is a time limit on each submission and that is why you must pay extra for the rarer coins , if your coin is worth 99$ you might get a minute of the graders time.

but if your coin is worth 22,000 smackaroos your not going to just get a minute of any graders time, your going to get multiple opinions and arguments before a slab is sealed around a coin that is worth a difference of 7,000$ between one grade or another.

because the management knows their are competitors out their in the marketplace and those pesky little CACstickers;)

 

on a different note : i love and hate you all !!!

 

i live in a small place and i also almost live under a rock , i cannot learn to grade coins , in my location i have like five coin shops and recently decided to visit one.

i looked and looked at that dealers junk, and i mean junk ; truly he had modern coins from papua new guinea in his display case and THREE unslabbed 1/4 gold coins i asked to see other stuff and was told everything was on display , to give him a purchase all i could find was a price catalog for $47 !!! ( did not buy )

i showed him one of my slabbed coins i had carried with me for the trip and he replied " you know those things can be faked ", i looked at his three little gold 1/4 coins and thought ' not as easily as those raw coins you have there ' ! ! !

i just thanked him and left and i was half way home when i realised his most likely business model was to buy coins off of unsuspecting suckers...

i cannot grade coins since in my location their is no market and no opportunity to interact or learn to grade and that just sucks, so i am so jealous of  you who can walk out your door to a coin show or coin dealer etc. My location gets ONE coin show per year !!! and that is my envy fetish and why i hate you and i love you for participating online ; so a huge thank you also.

all i can do is chat online and enjoy my 70's knowing my decendents will get something worth something into the future, now i am going to go drool over my slabbs

if that fool dealer had of engaged me and treated me as a customer with respect i would have easily put ten thousand dollars through his little shop if he had shown any interest in trying to find out my interests , now i just buy online since their is no other way ; but i do plan on other local dealer visits but make an appointment...

enjoy your personal investment

Edited March 30, 2021 by crok

[GoldFinger1969]

1 minute ago, crok said:

i live in a small place and i also almost live under a rock , i cannot learn to grade coins , in my location i have like five coin shops and recently decided to visit one. i looks and looked at that dealers junk, and i mean junk ; truly he had modern coins from papua new guinea in his display case and THREE unslabbed 1/4 gold coins iasked to see otherstuff and wastold everything was on display , to give him a purchase all i could find was a price catalog for $47 !!!  i showed him one of my slabbed coins i had carried with me for the trip and he replied " you know those thingscan be faked ", i looked at his three little gold coins and thought ' not as easily as those raw coins you have there ' ! ! ! i just thanked him and left and i was half way home when i realised his most likely business model was to buy coins off of unsuspecting suckers...

That's the great think about the internet, you can do EASY and FANTASTIC shopping from Ebay, HA, GC, etc.

You pay a bit more with bp's, taxes, fees, etc....but there's something to be said for being able to shop in a few minutes (or hours) from your home with clicks of a mouse.  With Hi-Def pics and return policies, you have decent protection.  Biggest problem of late seems to be slow and lost mail deliveries.

4 minutes ago, crok said:

i cannot grade coins since in my location their is no market and no opportunity to interact or learn to grade and that just sucks, so i am so jealous of  you who can walk out your door to a coin show or coin dealer etc. My location gets ONE coin show per year !!!

First.....you can see great Hi-Def pics with the grades at places like HA and GC, so check them out.  Also, there are plenty of "Guess The Grade" threads over at CT (not many here though there are a few).

Second...not sure if you can travel but some of the larger regional shows (Whitman Baltimore, Bay State Mass.) are nice....and the Big 3 (ANA, Long Beach, and FUN) are tons of fun (pun intended  ).  Went to FUN 2020, my 1st non-local coin show and it was great.  Previous shows had 25-40 dealers; FUN had close to 600 !!!  

[crok]

imagine you live in australia , truly it is the lucky country !!! but not for people into hobbies like coins etc.

i do, it costs AU$ 1.50+ per litre for petrol and i cannot get to the airport for less than 25 or $50 minimum, now imagine you lived in SD and wanted to get to your nearst coin show in VA or Maryland ?

its just not going to happen . . .

Learning to grade online is great to what purpose    

no dealer is going to accept my opinion over what he wants and even if i could grade well it most likely would not be a coin i was interested in or could afford

i have been to a boat show and a gun show in fort lauderdale USA and their is nothing i have seen here that is even a 1/4of that scope !!!

and then the virus . . .

truly we got TWO british cases ; f'in 2 !!!

the gov't shut down the entire area, roughly about 5 million people for THREE days...

penalities started at 400$ now they are at AU$1,400 and you know they are serious !!!

truly it is a FACT four police officers worked together during the day and after work got together and ALL got fined !!!

 

my nearest coin show would most likely be cancelled and if i tried to attend anyways i ould be stopped and fined but it is still five hundred miles LoL...

penalties are now depending on circumstances in the thousands or tens of thousands of dollars, but online is so much easier 

 

EXCEPT

 

the exchange rate is 75% of AU$t o US$ plus a conversion fee  ; PLUS A GST of TEN %

so roughly if i buy your old coin for US$500 it is going to cost me about AU$850 to collect it and when i go to sell i pay a 28% CGTax on the markup (Profit), minus 50% so its just 14 percent LoL..

 

Edited March 30, 2021 by crok

[Conder101]

21 hours ago, crok said:

firstly these coins are obviously in high grade condition,

But are they high enough?

21 hours ago, crok said:

these coins came to you for zero dollars , so how can you lose money by having them graded

By spend more on having them graded that then end up being worth.  You spend $35 have a coin graded that is now worth $50 after grading you end up selling it for a $15 profit.  But if you had just sold it raw you would have gotten $40.  So in effect you lost $25.

 

21 hours ago, crok said:

let us assume each coin is worth a hundred dollars ,

Bad assumption, most proof commemoratives aren't worth issue price except some of the early ones that were sold when the metal prices were a lot lower.

And I am going to let this go at this point because we are trying to give advice to an OP from seven years ago, and who has not been here for 6 years.

Edited March 31, 2021 by Conder101

[Henri Charriere]

On 10/13/2014 at 6:50 PM, Matt_dac said:

I recently had an anniversary gift coin graded for the protection factor. I fully did not expect it to grade a PF70 Ultra Cameo considering how few get that grade and was OK with that. I was pleasantly surprised to have received the top grade.

[Sorry did not respond sooner... been busy.  Merely wished to point out one cannot exclude the possibility that products produced by other mints reflect varying degrees of quality control. Have we anything remotely similar to the Royal Mint's "Trial of the Pyx"? 

For the record, I do not believe in the formal grading of proof coins.  But I am open to the possibility other mints produce consistently better products. I will respectfully defer to those who may have investigated this aspect at length and whose knowledge and experience vastly eclipses my own. (It should be noted I have reason to believe those who may know, anecdotally or otherwise, share my feeling that the grading of proof coins, whatever their origin, is a superfluous act to all but those collectors afflicted with the perfection obsession.)

[Conder101]

On 4/9/2021 at 11:00 PM, Quintus Arrius said:

Have we anything remotely similar to the Royal Mint's "Trial of the Pyx"?

We did up to I believe 1982 at which point the mint had not made any coins out of precious metal for 6 years and the annual assay commission was disbanded as a cost saving measure, which really saved only about $2,500 a year. ( the cost of a medal for each member and a dinner.)  And almost immediately afterward precious metal coinage resumed.  But the Assay Commission was not reinstated.

Double checked, the Assay Commission ended in 1980.  The Commission was one of the oldest institutions of the government having been established in the Mint Act of April 2, 1792.

Edited April 14, 2021 by Conder101

[Henri Charriere]

8 hours ago, Conder101 said:

We did up to I believe 1982 at which point the mint had not made any coins out of precious metal for 6 years and the annual assay commission was disbanded as a cost saving measure, which really saved only about $2,500 a year. ( the cost of a medal for each member and a dinner.)  And almost immediately afterward precious metal coinage resumed.  But the Assay Commission was not reinstated.

Double checked, the Assay Commission ended in 1980.  The Commission was one of the oldest institutions of the government having been established in the Mint Act of April 2, 1792.

[Firstly, thanks for checking; you're a fount of knowledge. It seems then that what we have, in its stead, is what I have jokingly referred to as Tales of the Crypt: various oddities and atrocities we refer to as errors, i.e., coins which would not pass muster overseas that we marvel at and praise here and not only sell, but do so with publicity and fanfare, at auctions. I maintain the quality of coinage is reflective of a country's honor and prestige.  The integrity of every coin matters and the reports of sub-standard proofs emanating from our Mint by our membership, irrespective of means, matters and disturbs me greatly and perhaps more so considering current prices.]