Is grading worth it 0

[B.L.21]

Hi, I just took in my two 1857 flying eagles and some other stuff to a coin store. I was told both eagles are worth about $125 a piece. I was also told it’s cost about $60 per coin to have it graded. So is it worth it to get cons at the low of dollar amount graded? Also, I found out I’ve got two major error dollars that he did recommend getting graded (kinda excited)

 

i guess a follow on question is how eqsy is eqsy is it to submit coins or currency to get graded?

[jgrinz]

Nope price is wrong - Yours would be about $20 plus shipping per coin

NGC Fees For Grading

Oh yeah we love pictures here  :-)

Have fun 

j

 

[B.L.21]

35 minutes ago, jgrinz said:

Nope price is wrong - Yours would be about $20 plus shipping per coin

NGC Fees For Grading

Oh yeah we love pictures here  :-)

Have fun 

j

 

 

Sorry. I posted th photos on the ask NGC room, didn’t want to duplicate.

[Jason Abshier]

With today’s market ? People are sending in all kinds of low end coins for grading, one guy at work started coin collecting as usual he started get hooked on silver bullion coins he sent in 20 business strike Silver eagles they all came back MS69-MS68 grade in my opinion MS69 and MS70 is nothing but a Big joke on the modern coin market , this guy was warned by me about sending in thoes silver eagles wasting money on shipping and submission and grading/slabbing fees he dreamed of hitting MS70 grade, sadly he was pissed when they came back MS69 few were MS68 as well , hard lesson to learn...when I could buy a MS69 silver eagle anytime , anywhere ...

The real question is do you feel $125 coin is worth slabbing? Is it a coin you want to protect or sell later down the line ? Then maybe that’s a reason for you to personally get it slabbed otherwise you can trade in your nongraded flying eagle cents and buy one that already been slabbed by a dealer or another collector for same price you are about to pay for grading/shipping/slabbing fees 

 

 

[B.L.21]

9 hours ago, Jason Abshier said:

With today’s market ? People are sending in all kinds of low end coins for grading, one guy at work started coin collecting as usual he started get hooked on silver bullion coins he sent in 20 business strike Silver eagles they all came back MS69-MS68 grade in my opinion MS69 and MS70 is nothing but a Big joke on the modern coin market , this guy was warned by me about sending in thoes silver eagles wasting money on shipping and submission and grading/slabbing fees he dreamed of hitting MS70 grade, sadly he was pissed when they came back MS69 few were MS68 as well , hard lesson to learn...when I could buy a MS69 silver eagle anytime , anywhere ...

The real question is do you feel $125 coin is worth slabbing? Is it a coin you want to protect or sell later down the line ? Then maybe that’s a reason for you to personally get it slabbed otherwise you can trade in your nongraded flying eagle cents and buy one that already been slabbed by a dealer or another collector for same price you are about to pay for grading/shipping/slabbing fees 

 

 

 

Thanks for reply, I decided not to send the, in as those costs, plus insurance wouldn’t make sense for me. The guy at the coin store said they’d be fine in current packaging. I’m not wanting to sell anything as inherited it all and I think it’s interesting.

[JKK]

This got me to thinking. Please indulge. It might help some new collectors.

I think part of the discoverer (as in the person who inherits or just somehow ends up with a collection) or newer collector tries to apply the principles of other areas to coin collecting until s/he learns how it works. In home repair, for example, there are slipshod and sloppy ways, and there are sturdy and elegant ways. So the new collector comes to this field, realizes that the coins have more than nominal value, and feels that slabbing is just taking excellent care of rarities; that this is the quality way, that anyone can put them in a flip; that this is 'doing it right.' I hate when people don't take pride in their work, so I totally understand this early bias toward having them slabbed.

Where people's understanding eventually catches up to logic is when they realize that the above is mainly true for very rare coins. To follow it with all one's coins would make the hobby prohibitive. How much would a full set of 1900s Lincolns cost in EF-40 condition? Most collectors would first consider the cost of the SVDB and 14-D, ask themselves if that included errors (such as the 55 and 72 double dies), and figure that would dwarf the cost of the rest. Many would cost less than a quarter each. The whole thing would cost neighborhood of $2000-3000, or more if one decided on more errors.

Now suppose one decides: I will make this penny collection an absolute jewel. I will get them all beautifully slabbed in this uniform encapsulation, with grades confirmed by the professionals. Grandpa would be so proud of me, and this will honor all his hard work and patience. That is completely natural thinking, and fundamentally admirable. It also means paying $20 each (more in some cases) plus shipping and insurance for what--I'm not going to count them--let's say 200 coins. That'll be $4000-plus, please. You would likely triple the overall cost. (And some would come back with details grades, or not make EF, or have some other problem. You'd have to send in new candidates to fulfill your goal.)

If the encapsulation and grading are worth all that extra money, in your sole judgment and based on your collecting goals, you should. If you aren't going to sell them anyway, whether or not you will recoup the slabbing cost is moot.

[Jason Abshier]

9 hours ago, JKK said:

This got me to thinking. Please indulge. It might help some new collectors.

I think part of the discoverer (as in the person who inherits or just somehow ends up with a collection) or newer collector tries to apply the principles of other areas to coin collecting until s/he learns how it works. In home repair, for example, there are slipshod and sloppy ways, and there are sturdy and elegant ways. So the new collector comes to this field, realizes that the coins have more than nominal value, and feels that slabbing is just taking excellent care of rarities; that this is the quality way, that anyone can put them in a flip; that this is 'doing it right.' I hate when people don't take pride in their work, so I totally understand this early bias toward having them slabbed.

Where people's understanding eventually catches up to logic is when they realize that the above is mainly true for very rare coins. To follow it with all one's coins would make the hobby prohibitive. How much would a full set of 1900s Lincolns cost in EF-40 condition? Most collectors would first consider the cost of the SVDB and 14-D, ask themselves if that included errors (such as the 55 and 72 double dies), and figure that would dwarf the cost of the rest. Many would cost less than a quarter each. The whole thing would cost neighborhood of $2000-3000, or more if one decided on more errors.

Now suppose one decides: I will make this penny collection an absolute jewel. I will get them all beautifully slabbed in this uniform encapsulation, with grades confirmed by the professionals. Grandpa would be so proud of me, and this will honor all his hard work and patience. That is completely natural thinking, and fundamentally admirable. It also means paying $20 each (more in some cases) plus shipping and insurance for what--I'm not going to count them--let's say 200 coins. That'll be $4000-plus, please. You would likely triple the overall cost. (And some would come back with details grades, or not make EF, or have some other problem. You'd have to send in new candidates to fulfill your goal.)

If the encapsulation and grading are worth all that extra money, in your sole judgment and based on your collecting goals, you should. If you aren't going to sell them anyway, whether or not you will recoup the slabbing cost is moot.

He right you know I totally agree with this ... I myself never really send in a coin for slabbing , however I’ve had sent coins in for “re-slabbing” they were keydate coins in slabs that were scratched up badly ... most coins I just buy them already slabbed ... as for Raw coins I just keep them in 2x2 from time to time check make sure staples ain’t rusting ... I have raw coins that been sitting in 2x2s for over 14 years never been changed they look same as the day I got them ... if I were to sell them I may consider slabbing some of them , justnto make it easier for new collectors to buy them . But most all of them are “common classic coins” we see them already on market in slabs it’s just not practical for me to slab them right now . My collection right now is being put together by me I don’t look at it like a Investment with big dollar signs in my eyes or rely on it for making money . 

That another issue in our collecting hobby kinda a peeve of mine always hearing people saying their coins are worth big bucks slabbed by PCGS deserves another 5-10% over retail value just because it’s in a PCGS holder (I don’t drink that kool-aid) , yeah good luck trying find a buyer ! It ain’t that easy ! most of coin shows I go to dealers ain’t really selling high end coins nobody with fat enough pockets are walking in shows to plunk out $8,000-$10,000 for a single coin , even average common classic coins are just sitting at dealers’ table collecting dust they never sell “the value of a coin” is subjective from collector to collector how much they really want to buy it for ... I always buy coin not holder , heck I even own some ANACS holders , PCI holders , ICG holders ... I even tried trade an ICG coin in for PCGS coin I wanted to buy this dealer was so stubborn he only dealed with PCGS coins only I guess he didn’t know how “trust” or “grade” coins he only believed PCGS to be the most superior grading company over all the other grading companies are Fake or something ... Our market is wacked right now too many roads to walk down which way to go... bashing left and right across lanes when it comes to slabbed coins. Just enjoy collecting that’s what hobby was meant to be not an investment market like we are seeing now ...