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Do you normally buy raw coins, or slabbed coins, or some mix of the two?

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Just wondering, do you normally buy raw coins, or slabbed coins, or some mix of the two?

 

My buying is kind of bimodal. I'm having a LOT of fun doing old fashioned coin collecting... e.g. buying raw coins and filling albums with them. For coins $200 and under I prefer buying them raw. Of the coins that I buy, roughly 85%, in total numbers, fall in this under $200 range.

 

I'm also perfectly happy to buy slabbed coins in this under $200 range if they have "the look" I'm looking for, it's just that I'll crack them out afterwards to put them in my Dansco(s). Roughly 10% of the coins I've bought in the last year, by number, have been these sort.

 

Finally, for my more valuable purchases, essentially anything over $200, I do buy them slabbed (and keep them slabbed unless I think I can upgrade them). Roughly 5% of the coins, by total number, that I've bought in the last year are these sort. Even though they are only 5% of the coins by number that I've bought, they represent roughly 75% of the money that I've spent on coins in the last year.

 

So, how about you? Do you buy only raw coins, only slabbed coins, or some sort of mix?...

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I buy cheap coins....most come from my local bank, but some better pieces come from the 7-11 parking lot. None of them are slabbed but some have coffee stains or donut juice on them. ;)

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I primarily buy slabbed coins, but I'm not opposed to buying raw. I do participate in the Registry, which requires slabbed coins.

 

I am starting to get into ancient coins a bit, though, and most of that stuff is raw.

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I would say when 'live', raw is not a problem. On line mostly certified. That is, for something that has some value.

Paul

 

With the amount of commerce online nowadays, this is a real concern.

 

Luckily, anything I bought with a return policy can be viewed live, and then returned if it isn't up to my standards. If there is no return policy, I will often have some trusted and knowledgeable person view it for me first (even if it is slabbed).

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I buy a mix of the two- online are mostly certified examples too with the exception of nice 20th century type sets, mint, or, proof sets.

 

I probably have more enjoyment though buying raw, and in person. Better opportunity to find quality at a lower price than with certified, for the most part, and the occasional Cherrypick is great too. I also like the opportunity to engage in conversation with the seller; whether I have questions, or, just generally fun coin talk.

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SkyMan:

 

It's interesting the huge difference you got in the number of responses to your post here versus ATS.

 

I think about the only way to get a large number of responses here is to put DCarr's name in the title. For example, I suggest you edit the title to this thread to be "Does DCarr normally buy raw coins, slabbed coins, or some mix of the two?" With this small change, you can expect about 90 replies. :)

 

Mark

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Currently only buying NGC and PCGS coins. I also buy one proof set and one mint set from the U.S. Mint every year. I saw an original box 1951 proof set not to long ago that had heavily toned coins with half dollar loose from cellophane. Coins appeared hairlined and I chose not to buy at 375.00.

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I've always subscribed to the theorem of "buy the coin, not the holder." I have some very nice coins in ANACS and ICG holders, but the majority are in NGC and PCGS. I've cracked out a number of coins because the bulk of that series in my collection was raw (CBH and WLH for example). It has been a while since I cracked out any coin.

 

The last couple of years I have stuck with more expensive ($300+) in NCG or PCGS only. If it is sticked with the CAC bean so much the better, although that is not the sole determinant in my purchase. I still buy what I like that is attractive to me and fits into my collection. I have become much more selective as the years go by.

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A lot depends on your knowledge of the coins you are interested in buying. There are many very competitively priced coins not in plastic holders - far more in collections that are in slabs. But you must understand how to evaluate a coin's condition and where possible variety.

 

[(I'll not go into the "grading" issue since my concepts on that have been universally panned. :) ]

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For coins over a certain amount i would say only pcgs/ngc. If i see a coin that i must have and its encapsulated by another company, ill try to get a good deal. Cheaper coins i can get away with raw since there are still great coins out there in flips or albums.

 

Everyone has their ways, thats mine :D

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When it comes to important U.S. Coins I only buy NGC or PCGS graded coins these days. For tokens, medals and the British coin I buy slabbed or raw up to about $2,500 or so.

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Almost entirely slabbed. When I was putting together Dansco sets of moderns I'd rarely buy a slabbed coin though (to crack out)....I thought they were overpriced...still do.

 

My big raw purchases ("non-Modern") was probably my 1918 Merc dime which later graded as 65 at PCGS and more recently a number of CBHs that later slabbed as well (from James). I only own the Merc anymore though....

 

jom

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I purchase mostly slabbed coins unless it's a US mint or proof set, late 19th/early 20th century foreign, or a raw coin I can see in person. I'm also enjoying filling coin albums to stay active with my collection as I wait for the 'right' coin to add to my slabbed collection...it helps me to keep the collection juices flowing.

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100% raw, I don't approve of the concept of third party grading. Authentication is OK because it is mostly objective but grading is very subjective (and therefor often not repeatable.) Especially once they got into hair-splitting MS grading. It is getting very hard to find pieces I need that are't slabbed though. And I don't by slabbed and crack out, just a matter of principle.

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I buy bullion raw and have no desire to slab it. I've also been collecting silver statehood and ATB quarters since the beginning and have no desire to slab them either. Most of my low dollar value exo is raw as well (under $100).

 

99% of everything else I buy graded. Occasionally, I'll buy raw but then send it in for grading.

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I don't buy expensive raw coins anymore because of the hassles with getting coins graded. When I was dealer the grading game worked well because of the law of averages. If you submitted a fair number of coins, you won, you lost and often came out in the middle with respect to grades. Usually I ended up ahead of the game because I cut the risks down on raw coins with my ability to grade.

 

When you are a collector, and only have a few coins, usually for me, a single coin to have graded, everything rides on that one piece. If it comes back under graded or details graded, that's a hassle. And believe me, "details grades" are far from permanent. I've had coins rejected by one service and graded by the other one and vice versa.

 

I advise collectors to buy the coin in the holder that they want, and to avoid crossovers. In the long run, I think that the collector ends up ahead that way.

 

In my case I'd compare it to a retired CPA. Back he was practicing he could do his own taxes because he was well up on the law. Now he hires someone else to do it. I know a couple of retired CPAs who think that way, and it makes sense.

 

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In my area its more common to find raw coins than certified ones, so a majority of my collection is raw. If I do see a fairly graded one in something I collect I tend to pick it up if its reasonable.

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Bill has shared some excellent observations: "When you are a collector, and only have a few coins, usually for me, a single coin to have graded, everything rides on that one piece. If it comes back under graded or details graded, that's a hassle." Also the comparison to a retired CPA doing his own taxes is right on.

I try to resist buying raw for anything I want in a slab and avoid the hassle.

Phil

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NGC or PCGS slabbed only for anything of value. I would have no problem buying raw for say Whitman folder collections with coins of little individual value.

 

I purchased two coins of value raw (as an adult anyway). One came back cleaned and the other I got lucky but there is no sense in the increased risk for anything of value. I've read all the arguments about grading and slabbing, blah blah blah, but unless you are personally as skilled as the graders at the top two firms, why not pay for the added insurance? Not infallible, but without question at least 'more insurance'. There are some exceptional collectors/dealers who would not need this 'added insurance', but for most it's only a positive. Also, try selling that raw coin to a stranger who will not care about your condition/grade assessment if not in a slab.

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When you get ready to sell, it had better be slabbed, or you will never get "all the money" for it.

 

When I bought coins as a dealer, I thought about how much I would get for the piece, then went back from there to determine a buying price. When the coin is raw, I took off more for (1) the of the certification, (2) the cost of shipping both ways and (3) an adjustment for risk in case the coin came back in a lower than I expected.

 

All of these factors should tell you, if it's not slabbed, there is a good chance you will be leaving money on the table.

 

The only exception to this in U.S. coins is with the Early Copper guys. Even there, slabbing is becoming more and more common. None of the major collections have been sold raw in recent years.

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