Help me to understand!!!

[TerrapinWill]

Why people appear (perhaps it's just my perception) so in love with plastic. I enjoy reading posts both here and and at CU Forum. I have learned a great deal. So many times collectors have said "buy the coin and not the holder", yet it appears so many do the opposite. The main argument, I suppose, is resale value.

 

I was reading a thread yesterday where on person was pointing out that 1942 MS67 RD Lincon Cents in PCGS sell for more than $200 more than the same grade in NGC. To my way of thinking, if I wanted a high grade Licoln Cent and I had a tough time telling the difference between two coins of the same grade, I'd take the less expensive coin all the time.

 

I understand that some people, perhaps most people, want some assurance that the coin they hold is in fact graded accurately. But if you need assurance from another party that the coin is what it is, and you cant tell yourself, arent you just buying a coin based on what other think?

 

I've just always been confused about this.

[Oldtrader3]

There is a mystique for some collectors (and dealers) about having the coin in a TPG holder, even though it does not change the appearance of the coin. Many people are insecure about their ability to grade coins and like the reassurance of TPG. This is why TPG caught on in the first place. Otherwise, why would people pay money for something that they already know? Now, as for PCGS vs. NGC, there was a short period of time after NGC started grading coins during which PCGS was being very conservative and NGC was being somewhat more variable. This perpetrated the belief that "rattler" PCGS slabs are all undergraded. This is much lore and some substance, backed by CU marketing hype in refusing to cross NGC coins.

 

This grading period created a mindset for many collectors (and dealers) that PCGS was "better". The lore of this difference still exists in the mind of many collectors (and dealers), reenforced by periods of conservative grading by PCGS of collector submitted coins. On a vis a vis, coin against coin basis, this is pure nonsense. However, many collectors (and dealers) are still insecure, thus the perception that PCGS is "better".

[James_OldeTowne]

For most of what I collect, which is coins in albums, I do not like certified coins at all. Furthermore, "grade" is not an issue for me, as my Washington Quarters album has at least 30 coins that were cracked out of MS-66 and MS-67 holders.

 

But there are a few areas I keep coming back to where I do like the slab, primarily for gold coins. In fact, even knowing that a particular gold coin is authentic, I still might prefer it in the slab. Strangely enough, I also like certain modern series, such as Ike dollars and SBAs, in slabs....

 

At any rate, I'll never be rich enough to where "condition rarity" is an issue, so certification will never be high on my priority list.

 

James

[TomB]

I'm not certain I follow your logic in the initial post. Speaking for myself, I am definitely someone who buys the coin and not the grade however, I will also freely admit that the market can support multiple price structures for the same coin based upon it being raw, in an NGC holder, in a PCGS holder or in some other holder. One way of thinking is my philosophy (buy the coin for its attributes) while the other is acknowledgement of the market (differential pricing).

 

In my own collection, I do not take the less expensive coin all the time; I take the nicer coin all the time. Sometimes that means that I buy a higher graded piece while other times I will pay multiples of bid for the next grade up in order to secure a spectacular piece in a lower grade.

 

Buy quality, the rest will follow.

[michael]

i can buy a really super nice 1947 full cherry orange non spotted fly specked superb gem cent for around 19 dollars

 

raw fresh pick out of an original roll

 

why would i do anything else??

 

and personally i do not want the 1947 coin even if a full red pcgs ms 68 holder

 

i look at a coin in a holder and i say what is this coin worth raw right now if i had to sell it?/ this isthe price i will pay for it if not then there are many other coins to collect

[James_OldeTowne]

I was talking to a collector a few weeks ago who collects Roosevelt dimes in slabs. None of his coins grades below MS-66. You know what? His collection takes literally eight double-row boxes, I guess around 3 cubic feet of volume! He keeps it in his office where it takes up two entire shelves of space. If you would like to look at a bunch of them at the same time, say to compare quality, you have to clear off an entire table to make room enough to lay them out. To top it all off, for this "convenience", this collector paid no less than $20 for EACH of these coins. So his investment - and these are Roosevelt dimes, mind you - tops a couple of thousands of dollars. The vast majority of the coins in this set are worth (realistically) a dollar at most, but the slabs probably cost $10 - $15 each.

 

I, on the other hand, have my entire collection stored in a single album that takes up much room as a large book. I feel fairly certain that none of my coins grades below MS-66, plus when I want to look at the set, I can view better than 20 coins at once (on a single page). Finally, I doubt I paid more than $2 for more than a couple of the coins.

 

Guess which collection I'd rather have....

 

James

[TerrapinWill]

I have some plastic....a handful of nicely toned Morgan Dollars......a 2003-2006 Nickel Collection, and a Birth Year to Present Lincoln Proof Set. All of these coins were had on the cheap, and were in the highest grade I could reasonably afford. Everything else is in albums. My franklin set is comprised of coins freed from their coffins. Everything else is raw. I prefer raw coins, cause I can look at all of them very easily. Plus, when i go to local shows, I can get my fix for not much money. I will never be affected by TPG's, values, etc, since I will never sell these coins. Why am I so sure I will never sell these coins....cause I dont have enough money invested to make a sale necessary.

[jtryka]

I am the same as you James, I have a very nice set of Roosevelts, including all the proofs and varieties, all in a Dansco album that I purchased for like $300 about 5 years ago. I just keep adding the 4 new issues each year and keep it on a book shelf. On the other hand, I do have a full slabbed collection of Franklins, though I am not sure why I ever did that (though at least they weren't expensive then, and still arent!) but at least they only take up 1 1/2 slab boxes. Most of the modern coins I own are raw and in albums, 2x2s or just plain rolls. Heck, even my Morgan set (not complete mind you) is in a pair of Danscos. Now gold on the other hand is all slabbed, with the exception of the few modern bullion coins I have and all the modern mint isues (I only like modenr commems in their original mint packaging with all the papers). I guess it's more of a whim on my part.