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klava
Penny Pincher Member
USA
192 Posts |
 Posted - 03/12/2008 : 04:18:38
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I have been a coin collector for years. But have never dealt with graded coins. There are a few auctions on ebay for 25 mixed graded coin grab bags ending soon at around 2-3 dollars a coin(shipping price factored in). This seems to me(a novice) a good deal for the simple fact that if I sent 25 coins in it would cost way more than that to get them graded. Am I far off on this?
Anyway I am basically clueless so any and all tips would be great. Links to good sites for reading up would help too. Thanks in advance!
-K
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/13/2008 : 11:37:41
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| Stop! Make sure to look up the grading company on Google, etc. first. Many sellers have their own grading services that specifically work for them. Do you think they'll give poor grades to the people who cut their checks? I would only recommend buying PCGS graded coins. They can be sold sight-unseen. I'm sure that there are one or two other services that are respectable. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/13/2008 : 11:42:34
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NGC is highly rated and very close to PCGS in terms of Value.I like when People have Slabbed coins on there MS 70 for a few bucks and no one is even bidding on them
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 03/13/2008 : 18:25:29
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In graded coins you get spend a lot for the grading.
For example a junk silver dollar will cost you under $20.
An unrated 1987 proof constitution will cost under $20.
A NGS certified MS 65 1987 constitution dollar will cost about $50.
A NGS certified MS 70 1987 constitution dollar will cost about $100.
Certified means the agency will back up that what they tell you is true. E-Bay will only sell certified coins as they then move the burden of proof to the certification agency.
The question is what do you want?
If you want just silver, buy junk.
If you want a nice coin pick out your own. The Red Book of coins is a $20 investment that will help you know if the coins you have are real or not and help you to make your own choices.
If you want to have proof that the coin is real and what it says, then buy certified. Know that you will pay about $20 per coin to get it in a slab.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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aboxaweek
Penny Collector Member
USA
326 Posts |
Posted - 03/13/2008 : 20:42:01
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do you have a link to a page to buy a "red book"???
would appreceate |
*HUCKABEE*
___08'____
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 03/15/2008 : 21:19:55
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Cody...
You said "E-Bay will only sell certified coins as they then move the burden of proof to the certification agency."
But ebay doesn't care what coins they sell as long as they get their listing and selling fees!
And most of the graded coins on there are bunk.... worth their base metal or slighly more, but not worth their grade... any coin you see in a holder other than PCGS, NGC, ANACS, or maybe ...is it PCI? or ANI? (one of them does 'okay' on their grading...but not as good as even ANACs or NGC) Any other holder is crap! |
"May your percentages ever increase!" |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 03/16/2008 : 23:07:04
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| Coins in PCGS and NGC holders are the only ones that trade sight unseen. I can call a dealer in California and tell them I have a 1905 Liberty $5 gold piece in a PCGS MS63 holder and they'll quote a buy price over the phone. The other grading services are generally unacceptable, unreliable and unwanted by serious collectors. |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/17/2008 : 15:26:22
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Having the coins in an NGC or PCGS holder certainly makes them more marketable.. but you pay for that fancy packaging.
You still need to learn to grade your own coins. Though the 2 major grading services are pretty good, I have seen both overgraded and undergraded coins in slabs. There are even guys who make a living just buying slabs and cracking out the coins and resubmitting them for a higher grade.
If buying certified coins I generally prefer the older slabs. I think the grading has slipped a little bit in the last few years to more market grading.
Learn to grade for yourself.. buy the coin, not the plastic! |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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n/a
deleted
35 Posts |
Posted - 03/20/2008 : 22:40:14
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| If you have an opportunity to buy certified graded coins from a reputable service (e.g. PCGS, NGC) and are purchasing them at retail value you cannot lose. |
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deleted
35 Posts |
Posted - 03/20/2008 : 22:46:19
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| Just as an aside Klava, that only goes if you are purchasing low grade coins actually. I have found that with probable higher graded coins, you can reap a profit on the fact that they are not graded because, of course, we all like to speculate on what we are getting... |
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n/a
deleted
35 Posts |
Posted - 03/20/2008 : 22:56:26
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| Sorry to post again in such rapid manner. I really agree with HCBOT that learning to grade yourself is the best route. The reason that graded coins are so popular I believe is because of economic globalization and the desire to trade sight unseen. This in itself undermines the whole love we have for collecting. Graded coins are no longer collectibles in this state, but simple exchange commodities, yet a coins value is based on what a collector with pay...catch 22 |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 03/26/2008 : 12:07:47
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For purchasing a Red Book I'd suggest you try the Walmart Web site. Usually the cheapest price for them.
As to slabbed coins or graded and placed in plastic. There are now over 100 grading services and the amount is growing. Many say only PCGS or NGC should be considered but is that really true? Difficult to say. They have been around for a while but as with anything, time in the buisness does not make the best place. Every day some company is going out of buisness that has been around for a long, long time. So just because PCGS and NCG are old, does not make them better. AT one time they too were new.
Myself, I would never buy a graded/slabbed coin that I think is not worthy of that. To take a coin worth $20 or $30 and pay almost that to have it graded to me is nuts. I wouldn't think of such a coin in a slab until it hit the hundreds of dollar values. And then I still would have to consider the grading service a little but just because they are new means little to me. I'm sure that the Rolls Royce Car company was new at one time but they are still here and are known to make a pretty nice car. |
Carl |
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fiatboy
Administrator
912 Posts |
Posted - 03/26/2008 : 13:37:17
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quote:
buy the coin, not the plastic!
That's good advice.  |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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longhorn
Penny Sorter Member
80 Posts |
Posted - 04/04/2008 : 23:58:08
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Although ANACS may not be quite as well respected as PCGS or NGC, they are legit. They provide some services that the others don't. Its especially relavent for early US coinage. For instance, Anacs will accept and grade coins that have been cleaned which is prevalent in much of the early coinage. They will grade these coins as __ details - cleaned. That allows a collector assurance that they are getting an authentic coin with known condition. Obviously you wouldn't pay as much for a cleaned coin as uncleaned, but sometimes collectors are more interested in a date or variety than whether a coin is numistmatically pure.
Of course as hcbt mentioned the primary rule of collecting coins is to buy the coin not the holder.
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Obey Gresham's Law |
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/05/2008 : 01:08:14
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you forgot "pop" reports Glen!
I sell high end type coins that live and die by them~
plus set registry collectors love pop reports as well! |
my machine is running! |
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Centsearcher
Penny Pincher Member
USA
107 Posts |
Posted - 04/12/2008 : 14:59:16
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| I agree with longhorn about ANACS also being a reputable third party grading service. I have delt with them before and everything went smoothly. I like them because they are specialists in error coins, whish is primarily what I deal with. |
--Misplaced Numismatist--
Democracy: The only system where any two idiots can out-vote a genius
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 04/24/2008 : 01:16:39
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ANACS holders will never command the value of PCGS holders by virtue of greater exposure and
market share. this is not to say they do a decent job of grading coins~ |
my machine is running! |
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Buying graded coins???
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