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gothboi30
Penny Collector Member
USA
286 Posts |
 Posted - 12/15/2008 : 19:04:54
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Hi everyone. I have some coins I am considering sending to PCGS for grading and slabbing. I spoke w/ a dealer in my area over the phone today, and he said that most of the coins I'm considering sending in won't sell for enough $$ to cover the grading costs. Should I send them in anyway? Was this guy right? Or should I seek additional opinions from other dealers? From what this guy was saying, I gathered that unless you have a very valuable or rare coin, it isn't worth the trouble to send them in. Is this true? I just don't want to waste my money here.....
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 12/15/2008 : 20:46:43
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Usually it only pays to slab the best of the best, but that is (IMHO) "maximize the bottom line for the next quarter" thinking.
Why do you want it slabbed?
If you want something bad enough and it has value to you go for it.
You'd be surprised how many people told me I was crazy for restoring a 1953 1/2 ton Dodge, but I like it. I'll probably never get the money back for what it cost me. |
There's profit if you melt things!!
8{> |
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fb101
Administrator
USA
2856 Posts |
Posted - 12/15/2008 : 21:01:51
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Slabbing usually doesn't add value to something. If it has it's own value (like an MS-70 penny) the value is in the proof of that.
Why don't you post your list? maybe we could advise you better. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 12/15/2008 : 22:37:30
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| PCGS can get spendy and if any of the coins were/are cleaned, I believe they will send them back ungraded and you still pay the grading fees. It's hard to say yay or nay without knowing more specific info on what you wish to send in. If it's a high value coin that you plan to sell in the near future, then I would say get it graded. If you never plan to sell, then why bother? PCGS grading is still an opinion just like yours and the next guy so if you plan to hold forever, I see no point in sending the coin(s) in to be put in a slab. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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aaron239
Penny Collector Member
USA
260 Posts |
Posted - 12/15/2008 : 23:27:44
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If you really are spot on with grading coins send these in:
Commons that are extraordinary. Talking MS 64+ sometimes 65+ on some common coins. My next coin purchase is going to be a common 1923 P Peace dollar and Im looking for a graded example PCGS 64 example at or around $40. How much does it cost to have them slabbed again? Now you see what Im talking about.
Your more rare stuff should be slabbed for sure for at least authenticity. There are some coins that should be slabbed no matter the condition they are in.
Throw away the slabbing altogether if you plan on holding the coin yourself forever. Who cares what PCGS thinks of your coin if you love it, right? |
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aaron239
Penny Collector Member
USA
260 Posts |
Posted - 12/15/2008 : 23:30:40
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| I should add I have bought slabbed coins and then broke them out of the holder. I dont have any plans on selling them in my lifetime. They are much better to look at in hand anyway. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/16/2008 : 01:07:26
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Sounds like the dealer was being straight with you. It is humorous when you see slabbed coins that are not even worth the price of having them slabbed. Also, if you slabbed all your coins they would take up a lot more space and you would have to pay a lot of safety deposit box fees to store all that plastic. Slabbing a coin sometimes inproves it's marketability slighty.. to those that cannot grade for themselves. The coin is still the same coin, it is just in an overpriced holder now with some third party's opinion of a grade.
Do you think they would give me a bulk slabbing fee deal of a few hundred thousand copper cents?  |
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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barrytrot
Administrator
USA
721 Posts |
Posted - 12/16/2008 : 08:59:23
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To see if it is worth having your coins slabbed you can go to You must be logged in to see this link. to see what they are supposed to be worth. This guide is extremely inflated though, so I would recommend dividing by 2 in each case unless you have a coin that will be the top grade available.
The cost for submissions can be found here You must be logged in to see this link. (Minimum of $14 per coin)
Those do NOT include shipping which is at least $16 each way. You can ship several together to mitigate that cost.
If you are looking to make money PCGS is probably not the best bet. NGC and ANACS are cheaper and far friendlier. So you will often get a grade boost and therefore more bang for your buck if you intend to sell.
However, if any of your coins are DDO (Double Die) or any other major variety then the benefit of getting them slabbed goes up dramatically. The prices on DDO and variety coins is off the charts right now compared to their standard counterparts. As an example, I paid over $800 for an MS67 variety that would have gone for under $50 if it had not been the DDO variety.
Also PCGS no longer "body bags", they put your coin into a "genuine" holder. Of course this means that you have definitely not made money as no one wants a "genuine" of anything other than 1820's or before or extreme key dates. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 12/16/2008 : 14:51:56
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I have a few graded coins. I bought them all from coin dealers and spent no more than $9 for a single coin, and that was a PR70 silver Nebraska quarter.
I have chosen not to spend the money to have any coins graded, but then I don't collect valuable coins I more go for their silver value. I am the guy you see looking at the junk coins for my collection. |
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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PCGS grading
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