How to justify sending my coins in to be graded

[skippy]

Any of you who know who I am know that I am a rabid shield nickel variety collector.

 

When I look at the ATS complete registry set for shield nickel varieties (all CPG varieties), I see that I could blow away the top sets if I got my coins graded. However, the fees ATS would be $32/coin plus $18/attribution fee. That's $50/coin, and I could very easily blow through a couple thousand in grading fees.

 

As an aside, my attributions are more accurate than those ATS and I am resistant to paying to have coins attributed when I already know what they are. After all, I've authored one of the definitive references on attributing shield nickels.

 

Most shield nickel varieties are not available in super high grades, so I don't have the argument of certifying a coin to ensure it's really a 65 for example. Most of mine are in the EF-AU range.

 

I'd like the ego trip of dominating the registry, but it seems awfully hard to justify the cost. I don't think that getting the coins graded/attributed is going to add $50/coin in value.

 

So, just looking for ideas. How would any of you justify paying grading fees under these circumstances?

 

In a nod to our hosts here, I'd love to see a CPG complete variety registry set here too.

[Nutmeg Coin]

You could just do the key ones at PCGS or NGC, Anacs and ICG are also possibilities though their holders are less good, but cheaper.

[Conder101]

This is a question that only you can answer. You know what you have, and you know that getting them slabbed will not raise the value enough to justify the expense. SO it all just boils down to "Am I willing to give thousands of dollars to PCGS (Plus the postage and insurance costs) just so I can say I have the #1 registry set?" Like you say it is strictly an ego thing. Does your ego need stroking that bad? If yes, do it. If no, go buy more coins.

[Mr.Mcknowitall]

Any of you who know who I am know that I am a rabid shield nickel variety collector.

 

When I look at the ATS complete registry set for shield nickel varieties (all CPG varieties), I see that I could blow away the top sets if I got my coins graded. However, the fees ATS would be $32/coin plus $18/attribution fee. That's $50/coin, and I could very easily blow through a couple thousand in grading fees.

 

As an aside, my attributions are more accurate than those ATS and I am resistant to paying to have coins attributed when I already know what they are. After all, I've authored one of the definitive references on attributing shield nickels.

 

Most shield nickel varieties are not available in super high grades, so I don't have the argument of certifying a coin to ensure it's really a 65 for example. Most of mine are in the EF-AU range.

 

I'd like the ego trip of dominating the registry, but it seems awfully hard to justify the cost. I don't think that getting the coins graded/attributed is going to add $50/coin in value.

 

So, just looking for ideas. How would any of you justify paying grading fees under these circumstances?

 

In a nod to our hosts here, I'd love to see a CPG complete variety registry set here too.

 

Knowing who you are, and your expertise, is enough info for a numismatist to "value" the coins. I would think spending the amount of money you mention would be better spent in preservation of the information that you have to share. I have read your book and it has been helpful to me. Many years ago I did help fund the publication of a book about Cents. He was a numismatic author and dedicated to dissemination of the information. It had pictures and lions and tigers and everything. I think it was very good for the collecting community. Of course it wasn't about your specialty, which I can appreciate is not at the interest level it should and could be. But, it still is and/or has the potential to be the best of the best of the best within your specialty, and maybe the information needs to be more widely available to the collecting community. I would think the next method that should be considered is competitive display.

 

I understand physical preservation is also very important, and I can see that enters into the decision process, but then again there are enough types of open market preservation/encapsulating systems that I would think work quite as well.

 

The only thought I have about TPG is if the TPG would, for the benefit of the collecting community, be willing to negotiate a cost that you find acceptable to you for the preservation. If your reason for doing so is only to enhance the economic value of the coin, then I see no point in TPG costs at the amounts you state. After all, you are the definitive expert and they are your coins. It would then only be about labeling and proving the provenance.

 

While I understand the lure of the Registry competition, I do not see it as adding an added economic advantage in your case. Just my opinion.

[RWB]

You could use the money to take yourself and the wife on a nice real trip, and let your "ego" stew at home.

 

You've already said that even with putting them in PCGS plastic, you won't get what you really want for long-term -- which is accurate attribution. Seems like you answered your question.

[erwindoc]

In my mind, a coin is worth consideration if it is over $100 or if I think it would be worth over $100 if it gets assigned the grade I think. This takes into account just regular grading. You would need to factor in variety pricing too, so if your coin is worth over $150, perhaps consider it. Good luck.

[skippy]

Thanks for all the thoughts, guys. Most of them are the same thoughts I have, and I always wind up deciding I'd rather spend the money on coins than holders (or even as RWB suggested).

 

The idea that a TPG might negotiate a deal with me for the good of the collecting community is new to me. I don't think it would apply to the TPG in question since I've offered my attribution skills to them at no charge and they were not interested. (Our hosts here do occasionally ask me about a shield nickel attribution, which I'm happy to answer - usually we both learn something new.)

 

As far as preservation, all of the non-encapsulated coins I have are in intercept shield holders, so I think they are pretty well preserved.

 

So, was just looking for new thoughts. Thanks guys. I guess I'll continue to leave my ego unstroked by registry gratification.

 

[MarkVIIIMarc]

Sounds like with your knowledge you would only gain as much as if you paid $1,000 to me to grade your coins - Not much besides the satisfaction of knowing I have your money. At least I'll spend it wisely on old car parts and coins.

 

Do you plan on flipping any soon? Grades make newbs and online bidders more comfortable.

 

[Davids5104]

i would be concerned having coins that are varieties not clearly marked if something were to happen to you. Does your family know what they are? what they are worth? or whoever is in line to receive them if something were to happen? Obviously it aids in the sight unseen sale having them in NGC/PCGS holders.

The sets are great, but that alone should not be cause to submit them. Better long term storage and down the road ease of handling may be a reason. Send in the best or the most significant

[bstrauss3]

Because you want to. At the end of the day, they are your coins and if slabbing them - even low value ones w/o the economic justification makes you happy... do it.

 

 

[Conder101]

i would be concerned having coins that are varieties not clearly marked if something were to happen to you.

I'm sure he has them all clearly marked. (Is there a variety specialist that DOESN'T mark what they are?)

 

Obviously it aids in the sight unseen sale having them in NGC/PCGS holders.

For widgets yes, for items that are only likely to draw interest from advanced specialists not so much. They know what they are looking at.

 

Better long term storage and down the road ease of handling may be a reason.

As he mentioned these are circulated pieces not high end poptop type coins. Excellent long term storage holders can be obtained a heck of a lot cheaper than paying for slabbing.

[skippy]

Could not have said it better Condor101. Thank you.

[BAJJERFAN]

You could use the money to take yourself and the wife on a nice real trip, and let your "ego" stew at home.

 

You've already said that even with putting them in PCGS plastic, you won't get what you really want for long-term -- which is accurate attribution. Seems like you answered your question.

 

You can always challenge the PCGS attribution if you feel they got it wrong.

[BAJJERFAN]

Thanks for all the thoughts, guys. Most of them are the same thoughts I have, and I always wind up deciding I'd rather spend the money on coins than holders (or even as RWB suggested).

 

The idea that a TPG might negotiate a deal with me for the good of the collecting community is new to me. I don't think it would apply to the TPG in question since I've offered my attribution skills to them at no charge and they were not interested. (Our hosts here do occasionally ask me about a shield nickel attribution, which I'm happy to answer - usually we both learn something new.)

 

As far as preservation, all of the non-encapsulated coins I have are in intercept shield holders, so I think they are pretty well preserved.

 

So, was just looking for new thoughts. Thanks guys. I guess I'll continue to leave my ego unstroked by registry gratification.

 

You might be better off paying someone [unless you can do it yourself] to take pics of your coins that show the exact variety and compare them with known and accurately attributed examples.

[skippy]

 

You might be better off paying someone [unless you can do it yourself] to take pics of your coins that show the exact variety and compare them with known and accurately attributed examples.

 

I'm the one who takes the pictures and authored a massive reference on correctly attributing them. Other people compare their coins to my photos to see if their coins are accurately attributed.

 

[skippy]

 

You can always challenge the PCGS attribution if you feel they got it wrong.

 

Unfortunately, PCGS lacks the tools necessary for accurate attributions of shield nickels (they rely solely on CPG, which covers at most 20% of the known varieties).

[Six Mile Rick]

Since you are thinking of TPG grading. Maybe you would do fine at say 20 or 30 at a time instead of looking at the whole collection costs. That would start a goal for you and you can bail out if you are dissatisfied at any time.

 

I would imagine that you have doubles as well. Those could sell after encapsulated to pay the costs of grading fees.

[BAJJERFAN]

 

You might be better off paying someone [unless you can do it yourself] to take pics of your coins that show the exact variety and compare them with known and accurately attributed examples.

 

I'm the one who takes the pictures and authored a massive reference on correctly attributing them. Other people compare their coins to my photos to see if their coins are accurately attributed.

 

Sorry, but I'm not a follower of the series or the varieties. Looks like you have the situation well in hand then. If not available now it might be nice [but not essential] to have a few graded and accurately attributed examples in TPG holders of each variety.

[BAJJERFAN]

 

You can always challenge the PCGS attribution if you feel they got it wrong.

 

Unfortunately, PCGS lacks the tools necessary for accurate attributions of shield nickels (they rely solely on CPG, which covers at most 20% of the known varieties).

 

Then it would behoove you or other interested parties to get the other 80% of the varieties into the CPG since I doubt any TPG would do it on their own. You might wish to offer your services to PCGS as a recognized expert in the field if that applies.

[Conder101]

You might wish to offer your services to PCGS as a recognized expert in the field if that applies.

You missed it in an earlier posting, he did and they turned him down.

[BAJJERFAN]

You might wish to offer your services to PCGS as a recognized expert in the field if that applies.

You missed it in an earlier posting, he did and they turned him down.

 

More than likely, I just didn't remember it. I do that a lot.

[e1cnr]

You really need to look at 'values' before spending $35-50 to get into a slab - many would prefer to purchase more coins.

[coinman_23885]

If you decide to pursue it, see if Harry Laibstain can get you bulk pricing. The website indicates lower prices for larger submissions - I don't know how variety attribution works with this. The contact information for HLRC and information about their PCGS grading program can be found here:

 

http://hlrc.com/Home/Services

 

P.S. When pricing, varieties are prone to liquidity issues and the price guides are all over (and even more so than "normal" coins). These comments are general and based on a number of series, and not necessarily Shield Nickels varieties (which I deal very little with). My point is be sure that you are not overpricing the coins and paying for a higher tier when an economy submission might also work, especially for coins below MS that are not better dates.

[BAJJERFAN]

You really need to look at 'values' before spending $35-50 to get into a slab - many would prefer to purchase more coins.

 

If spending a couple grand on grading is no big deal, then why not? If it is then probably not a good idea.

[skippy]

 

You can always challenge the PCGS attribution if you feel they got it wrong.

 

Unfortunately, PCGS lacks the tools necessary for accurate attributions of shield nickels (they rely solely on CPG, which covers at most 20% of the known varieties).

 

Then it would behoove you or other interested parties to get the other 80% of the varieties into the CPG since I doubt any TPG would do it on their own. You might wish to offer your services to PCGS as a recognized expert in the field if that applies.

 

Almost all of the shield nickel varieties added to CPG in the last several years have been the result of my contributions.

 

CPG couldn't possibly list all the shield nickel varieties or it would become solely a shield nickel variety book. It is a challenge to winnow out the varieties of general enough interest to include in CPG.