What's a coin got to be worth before you slab it?

[BodyBag]

I've seen no many $5 - $20 coins in slabs, I'm beginning to wonder what kind of contacts some people have with NGC and PCGS in order to slab these things for a few bucks. I mean really, who in thier right mind wants to take a $25 bath on a MS63 Mercury Dime? I usualy have to think a coin is worth $50 before I send it in (and hoping that I've undergraded it). And I never send in common date Mercury dimes or Franklins unless they knock my socks off. Never a clad coin - don't know enough about them.

Aside from those with enough disposable income to put together a low grade registry set for the fun of it, I'll never understand a 1937 VG Buffalo Nickel in a slab.

 

[jom]

This has always been a mystery to me. I don't know why anyone would slab a cheap coin BUT maybe they are thinking they can get it in some "whoop-te-do" MS69 holder or something.

 

BUT...my first criteria for slabbing a coin is not it's price but whether I'm going to sell it. I see a lot of people slabbing stuff to have it in a holder. I personally think that's a waste of money. If you aren't going to sell it why slab it? Keep you money and buy another coin or something....

 

jom

[truthteller]

Long, long time ago, before the dawn of mankind, there were coins. Some coins had lots of value, some coins did not. Then came the 'enlightenment' period. Coins were slabbed. Suddenly, even $1 coins were worth hundreds of dollars in those coin slabs. Then the period of 'dark ages' came to slabs. The $100 coin now became the $2 coin. This is how it remains to this day.

 

TRUTH

[JD-migration]

For me, minimum value of coin at the grade I "expect" the coin to be certified at is about $100.00.

 

Probably several reasons, a couple of them as follows

 

1. To sell, especially on eBay or similar forums. Inspires confidence in grade and originality with prospective buyers. Creates more bid competition, hence better value for seller.

 

2. Many are probably thought by the submitter to be of higher grade than actual grade slabbed. As such, you get low value coins in slabs.

 

3. Many novice collectors rely on certification as opposed to personal grading skills which are largely discussed as being an "art" and "subjective". Frankly, why pay for the experience by making bad purchases when it's cheaper in the long run to buy certified coins.

 

4. Uniformity of protection media. i.e. All of the coins in the collectors set are slabbed so they can be placed in a box or album together, as opposed to some being in 2x2's of some sort and some in slabs. For modern issues, cost of certification is relatively inexpensive.

 

 

[gmarguli]

There are a lot of reasons for this.

 

The coin could have been worth more years ago when it was slabbed. Remember, in 1989 coins were at stupid levels. I remember spending ~$30 to slab common date MS64 Morgan and Peace dollars.

 

They maybe needed some extra coins to meet the minimum requirement for a special rate. Years ago PCG$ ran a special for Morgan and Peace dollars. It was something like 50 coins for $10 each or something like that. There was no economy service at this time. I had maybe 35 coins I wanted slabbed, but needed to meet the minimum. It was cheaper for me to include another 15 coins than to send the first 35 in under their regular tier. I included 15 circ Morgan and Peace dollars. They got circ grades (VF25, G-6, etc). I'm sure some people would think that only an insufficiently_thoughtful_person would slab these $7 circ coins, but to me it was cost efficient.

 

They got a break on the submission cost for the bulk service (as low as $6 is what I've been told). At that rate it very well might be worth it to submit rolls of coins, for example original rolls of BU Mercury dimes.

 

The coin missed the money grade. If MS64 is worth it, maybe the submitter took a shot.

 

The submitter blew the grade. They thought it would grade much higher than it did.

 

The grading service blew the grade and graded it much lower than they should have. The submitter figured it wasn't worth it to re$ubmit.

 

The coin held some sort of personal value to the submitter. Perhaps it was given to them by a family member. Sure it is a $5 coin, but they wanted to protect it.

 

It was a "free" submission. PCG$ used to do the free coin of the month. Usually they picked expensive coins, but maybe they picked cheaper coins. Also, the "free" club submissions are frequently used for junk.

 

Maybe they submitted the wrong coin? Don't laugh, but I did that once.

[Dermott]

For me, it'd have to fit a few criteria...

 

1. $250+ in value

2. A key date or coin that doesn't store well in a 2x2 (i.e. my $20 Saints)

3. There's a possiblity that the coin was purchased undergraded or I need the coin to be certified as genuine and am unable to ascertain for myself.

 

 

[toyonakataro]

The other day, I was thrilled to find my 1959 Franklin half in mint set looked nearly perfect....very clean fields even under X10 loupe and super strong bell lines and I was confident it'll make at least MS67 FBL.....it took me more than 10 minuts to realize I was looking proof set, not mint set.

I think there are more clueless people than you might think

[ldhair]

Today I want it to be at least $50.

Years back when PCI first came out I found it to be a cheap way to holder a coin to fit into a set. I looked at it as a great way to protect the coin. Didn't care much about the grade. It's always been a hobby to me. Just my thoughts.

[BillJones]

$200 is usually the most common guideline, and to me that would be at the economy rate to make it worthwhile. So far I have relented once a slabbed a piece that was worth only $125.00.

[IrishMike]

A coin would have to be worth more after it was slabbed then what the coin originally cost plus slabbing and postage. I see three things driving the lust to slab cheap coins: lack of grading skills by the submitter, to get a coin in a registry slot, and to be able to post your grading results. The last one has become a phenomenom in its own right.

 

If you want a chuckle, just read some of the posts and results of submission results.

 

Two PCGS SAE PF70 Dcams, a 2001 and a 2003 hammered down for $1650 & $1150 respectively on 6/16 at Teletrade. How many coins do think the submitter sent in to get these grades? Meanwhile the same coins in NGC holders went unsold after bids went to $130.

[BodyBag]

Well, I guess it's a good thing that SOME people are submitting cheaper coins. All of my Mercury Dimes in my short set I've got for less than $50, and many for less than $30, some for ~$19! Beautiful MS66 or better coins!. All in the same type holder, graded by the experts - looks nice as a set, and bought for a song. I would not have submitted any of these Mercs, but I'm glad someone did.

Now, if I could get people to start submitting more XF/AU type coins!

[BillJones]

I just bought a 1943 steel cent in PCGS MS-66 for $25. What the heck. It's a one year type, and the coin was about as good as these things get. It cost at least $8 to get it in the holder.