Do you purchase raw coins at shows, or slabbed only?

[rhack-migration]

For you collectors that have been at this for awhile.

 

When attending coin shows, do you trust purchasing raw coins or do you try to purchase slabbed coins only? Also, is there typically a premium on a slabbed coin vs. a raw coin that is graded the same?

 

I've been to about 4 shows this year now, and have been buying raw coins. I have been purchasing more for the enjoyment of the coin versus a financial investment. Thus far the max I've paid for a coin is probably aroung $160.00. Not a huge investment but it adds up. I probably spend anywhere from $200 - $500 a show buying type coins and large cents that appeal to me. Should I try to refrain from this practice and start being more selective and spend a little more on a slabbed coin instead of buying a raws?

 

If I continue making purchases over several years I will have a substantial investment in my collection, don't want to just end up with pretty junk.

 

I appreciate hearing and learning from you folks that have gained valuable experience over the years of while being involved with numismatics.

 

Thanks

[ldhair]

I buy raw coins at shows but only because I have been at this for a while.

If I were new to the hobby I would stay with slabs for a while till I felt good about my ability to spot a problem coin.

I made lots of mistakes in my early years at the hobby.

[Becky-migration]

I like buying raw. But there are some series that I just don't know well enough to trust myself grading or authenticating, like a trade dollar. This coin I would only buy slabbed, or from someone I really trust.

 

I think it's all about buying what you like and your comfort level. I am very comfortable buying raw Morgans and Peace dollars, but not so comfortable with early copper. It's way easier for me to see cleaning on silver and nickel coins. I have a history with these coins. Not much history with the copper, so the comfort level isn't there.

 

I do my homework first, then go and try to find the coin I want for my typeset. I'm sure I have made a mistake or two, but I also feel like there will be someone that will like the coin as much I do when I go to sell it.

 

Share some pictures of your coins with us. And enjoy!! That's what this hobby is all about!!

 

And Welcome

[IGWT]

Hi Rhack, and welcome. I agree with what's already been said. If you're buying coins that have some value, you should start out with coins certified by trustworthy TPGs unless you have an experienced mentor who can assist you with distinguishing the good from the bad. Or, if you can hold back the urge to purchase while attending shows, look at a wide range of many certified coins in the series that you want to collect to help educate yourself before plunking down any money for a raw coin.

 

Everyone here will tell you that knowledge -- through study and experience -- is necessary to derive maximum enjoyment from the hobby and to assemble a nice collection. It's also essential for self-preservation.

[michael]

only buy raw coins even slabbed ones that you can look at and totally price and evaulate yourself

 

if not then let the buyer beware

[Oldtrader3]

I believe that Michael is correct. In the current market, there are a lot of problem coins in slabs. It is wise to buy sight seen until this condition improves. I buy raw coins at shows or dealers shops if there is good enough light to see them. I generally do not like flourescent light because it hides small scratches and hairlines.

 

There are a couple dealers that I buy slabbed coins (sight unseen) from, but I have dealt with them for many years and they have return policies.

[Hoot]

Any more, I never buy a coin that I would not want raw. I have a growing history of cracking coins, placing them in flips, and tucking them away in my collection. And I simply won't do that with a coin that I'd be nervous of not recovering some serious (for me) dollar sum. So, I try to do like Michael and ignore the holder when buying the coin. The price is the ultimate determining factor, since youcan pay funny money for nearly anything. (You should see what I've bought form other board members! )

 

At shows, i find the greatest pleasure in buying raw coins, but this has emerged over a long period of time and a lot of looking - also my fair share of mistakes. I am trying to familiarize myself with early American coppers (like Becky) and that's a significant challenge. Nothing has improved my skills in looking carefully at coins than the EAC endeavor.

 

Hoot

[cpm9ball]

I am trying to familiarize myself with early American coppers (like Becky) and that's a significant challenge. Nothing has improved my skills in looking carefully at coins than the EAC endeavor.

 

Hoot

 

What about bronze, Mark? When are you going to post pics and your impressions of that 1915 Pan Pac? I'm anxious to know if it looks as good in-hand.

 

Chris

[James_OldeTowne]

I guess 80% of what I buy is not certfied. Curiously, about 1/3 of my current inventory is certified, which means that my raw coins are selling at a better clip than my encapsulated ones.

 

I am a true believer in "buy the coin, not the holder", and by "holder", that can mean a slab, or a 2x2 flip.

 

There are certain coins where certification is a must, such as better-date gold, ultra high-grade moderns, and certain key-date coins, but generally speaking, I prefer coins not certified, and so do most of my customers.

 

James

[rhack-migration]

Thank you everyone for your replies. I feel better knowing the pros buy raw as well. I thought surely with all of the raw coins at shows, it can't be just newbies buying them. I'll have to take some pics and post them to see what your opinions are. Also, having been to a handfull of shows this year I've met one dealer that I feel real comfortable with. He seems real up front, discusses the coins and shares information about what he is collecting and enjoys. I like it when the dealers seem to enjoy their coins as well, and are not just interested in pushing a coin at me saying "its a real beaut and I'll let you have it for...". Whenever I'm not sure, I have no problem walking away to see what else is on the floor.

 

Last Saturday I spent quite a bit more than I usually do, I was surprised my wife was so amicable to my parting with money. Turns out she was just letting her leverage build up for buying a new puppy. Her and my daughter have been working on me for weeks. To make a long story short, we welcomed a little Welsh Corgi into our home on Sunday. I'll have to start being covert in my buying for now on.

 

Thanks again!

[Hoot]

rhack - To make a long story short, we welcomed a little Welsh Corgi into our home on Sunday.

 

I think you came out the double winner. Who wants more than coins and dogs, dogs and coins?

 

Hoot

[michael]

and also dont 100% blindly trust any coin sellers just because they smooze you and talk to you sweetly w8ith honey talk and bullsh1t you or you are going to get a pole up your wazoo and broken off while it is up there

[nwcs]

These days I generally only buy slabbed coins. And thankfully my enjoyment of the coin does not depend on it being in a slab nor do I enjoy it more outside a slab.