How many here will NOT buy Raw coins?

[goose3]

I'll admit I used to try and stick with slabbed but over time I've gotten more comfortable buying Raw coins.

 

While I will buy a raw bust half or similar coin, I would still not be comfortable purchasing a raw SVDB or 16d dime.....due to counterfeits and whatnot.

[zrlevin]

Raw

[cpm9ball]

Sorry, but I prefer mine medium-rare.

 

Chris

[IGWT]

Sorry, but I prefer mine medium-rare.

 

[WinstonWare]

I’m still learning so aside from a couple series or buying from someone that I trust I like to buy my more expensive coins in trusted slabs. That said, I do buy raw coins up to about $100.

 

I should note that the first two coins that I bought were both over two hundred dollars, both raw, and both, I found out later, improperly cleaned. I know that Tom feels badly for me That was before I found this forum, started reading coin books, etc.

[MunkyMan95]

I can agree with Winston somewhat. Raw coins that carry a hefty pricetag, I would prefer to have them in slabs. I will buy raw myself for up to about $75. After that, especially on gold coins, I buy slabbed.

[World Colonial]

I would rather buy my coins raw and then submit them for grading because this is a cheaper option. But I am no longer going to buy raw coins unless it is for a large discount to a slabbed coin or which is frequently the case for my material, the specimen immediately for sale is the only one available.

 

I have become more proficient at identifying "no grade" coins, but it is still rather frustrating to buy a coin, submit it and then have it rejected. (I have not had this happen with an expensive coin - yet - but it also annoyed me when two of my coins were rejected by NGC and then accepted after I submited them to NCS.) For the world coins I collect, a "problem coin" is basically dead money since I will not lie about its status when I get rid of it.

 

For marketability purposes, you are better off buying certified material or having your coins certified. Or at least that is my experience because of the potential risk you are taking if the coin is not eligible for grading.

[the_Thing ®]

There is an advertiser in Coin World. I say he has been in there 20 + years, 2 full pages, nothing but raw coins. Never a slab that I know of. And some nice quality stuff, into the upper four/mid five figures. Early dollars, key dates etc. I've often wondered if they are that nice, why aren't they in slabs? But, being a CW advertiser for that long, and his return policy tells me the guy is honest in his descriptions. I'll try and find an old issue to see who it is.

[the_Thing ®]

Its

 

The Coin Depot

"A divison of Kirk Kelly Rare Coins".

[James_OldeTowne]

I'll admit I used to try and stick with slabbed but over time I've gotten more comfortable buying Raw coins.

 

While I will buy a raw bust half or similar coin, I would still not be comfortable purchasing a raw SVDB or 16d dime.....due to counterfeits and whatnot.

Contrary to some popular perceptions, the vast majority, no, make that the HUMONGOUS-EST majority of coins on the market are uncertified, and I would estimate that 95% of the number of coins I buy are so, though I would also estimate that maybe only 75% of the value of coins I buy are raw. In other words, I tend to buy a lot more raw coins than certified, though the certified coins I buy tend to be higher priced.

 

More significantly to me though, I seldom buy a certified coin from the Seated Liberty series or earlier. For some reason, I have just never been able to get used to the inability to handle 150 year-old coin - that's already been handled for 150 years! (I'm speaking of certifed coins, of course).

 

On the other hand, I seldom buy a raw uncirculated Walker or Morgan or Standing Liberty quarter - almost never in fact. These days, those coins have become "widgets", and it's just to hard to sell them uncertified, because the prices of these coins is so condition-sensitive ( or at least that's the perception).

 

So the short summary of this long answer is that I most usually DO buy "raw" coins, but there are some coins aren't worth bothering with unless somebody else has already spent the money to certify them.

[ldhair]

Raw is fine as long as I can see it in hand first.

 

I don't mind walking away from a coin if I'm not 100% sure it's right or of my ability to know.

 

At a young age this really nice old friend and dealer I knew had this to say.

Don't ever buy a coin if you don't have the knowledge to know if it's right or if there is something you don't like about the coin. If you don't like it now you never will.

He must have told me this a 100 times. Looking back, he was really wise.

[cpm9ball]

I buy slabbed coins from James and make them raw.

 

Chris

[Bruceswar]

I have bought raw coins since I have begun collecting. I have bought some rather expensive raw coins. 2 1909 S VDB's 2 1909 S, 1914 D, 1932 D(Quarter), Not to mention my quarter set is all raw. Just look up a 1934 D in MS 64... I bought a high grade seated dollar, 1921 Peace Dollar, etc. I am sure there is more but with expierence comes knowing more about what you are buying. I would recommend buying raw coins, but just like slabs know what you are buying. Slabs have numbers, which can be wrong and cost you alot. Raw coins have counterfiets, which can also cost you alot. Know what you buy and you will be ok.

[TJ'S Coins]

There was a time when I purchased slabbed coins until I became more comfortable grading. Now I have little fear about purchasing a raw coins, especially if they are a CBH, Morgan or Peace dollar.

[MorganMan]

I will only buy raw by photos if it is a coin that would not have been a candidate for counterfeiting. ( ie... pennies, nickels,dimes. Not gold, trade or morgans)

 

I also limit try to around 100 in value raw unless I can hold the coin in hand.

 

There are a FEW sellers on E-bay I trust with money back policies that I have no problem buying raw from.

 

I have no problem buying raw if I can see the coin myself.

 

MM

[MAULEMALL]

I would love to buy all raw coins but to be honest when hunting online I sometimes need a starting point...I tend to look for older slabs, Rattlers and Fatties as well as Old ANACS before any of the newer slabs.

 

I only have one coin store in my area that I would consider,and in fact, often buy raw coins from.

[TomB]

Most of my best gains, on a percentage basis, have been through raw coins and I still eagerly look for more.

[WinstonWare]

Tom, if you don't mind saying - where do you find most of your best gains? Shows, Live Auctions, Online Auctions, while doing yard work???

 

Thanks

[TomB]

while doing yard work???

Definitely not that since I don't do yardwork. Greater than 99% of my purchases come from dealers and most of that is done live, at shows.

[WinstonWare]

I guess I gotta get out more

[WinstonWare]

Tom, I was thinking, if you buy from dealers, what is the advantage of buying at shows? Is it just to see more coins? Are there better prices than in stores?

 

Sorry for the 20 questions here but I think I need to change the venue in which I buy coins.

 

Thanks!

[TomB]

If you buy at shows you not only see thousands of coins, if you care to, but you also meet people and this networking establishes you as a known commodity that can lead to not only a discounted price but can also lead to being offered coins that are not publicly visible.

[WinstonWare]

Ah that makes sense

 

Thanks!

[okbustchaser]

I have bought $50 slabbed coins and I have bought mid to high 4 figure slabbed coins. I have also bought $50 raw coins and mid to high 4 figure raw coins. I have never (and categorically refuse to do so in the future) paid more for a slabbed coin then I would have paid for the same coin raw. Admittedly, this policy has cost me the ability to buy some very nice coins, but since the coin is immediately going to be cracked out anyway why would I do so?

 

This should not be construed to mean that I am unwilling to "step up" and pay a premium over book (sometimes a large one) merely that that premium is based on what I think about a coin not some paper lable and surrounding plastic.

[WinstonWare]

This should not be construed to mean that I am unwilling to "step up" and pay a premium over book (sometimes a large one) merely that that premium is based on what I think about a coin not some paper lable and surrounding plastic.

 

That is a great way to look at it. I've just not been in long enough to feel comfortable doing that....yet.