Is it Poor Judgment to Crack Coins...

OneCent · January 13, 2010 9:50AM

out of PCGS holders to put in albums?

Say a 1914-D Lincoln in XF-40 condition. That hole in the album is mighty irritating BUT the liquidity provided by the slab does have its value.

soty27 · January 13, 2010 9:51AM

Its your coin do whatever you want to.

AgBlox · January 13, 2010 9:52AM

Get a replica to stick in the hole

Barndog · January 13, 2010 9:52AM

I crack out Classic Head Large Cents to store in a coin board. I recognize the value of the slab, yet I do it anyway. I collect coins as a hobby, not as a job/livelihood.

doh · January 13, 2010 9:52AM

Do whatever you want, but you will be hurting the resale value a bit. If that's not an issue, then knock yourself out.

ColonialCoinUnion · January 13, 2010 9:53AM

It might be excellent judgment, depending on your personal goals.

coinbuf · January 13, 2010 9:56AM

Well if you need to sell you could always resubmit and get a better grade. Or you could sell raw on ebay and have everyone here discuss why anyone would ever sell such a coin raw.

MidLifeCrisis · January 13, 2010 9:59AM

<< Its your coin do whatever you want to. >>

But the long term effects of your decision might not be to your liking.

SUMORADA · January 13, 2010 10:25AM

Is it Poor Judgment to Crack Coins...

When they belong to you, then only your judgment is important.......

coinman23885 · January 13, 2010 12:58PM

Why not take a life sized photograph, trim it, and then place the photographed image in the album! Placing coins in an album, especially copper coins, can result in discoloration (probably not as bad on an XF40). Good luck.

oldfolkie · January 13, 2010 1:17PM

I've broken out the 14 d, and 09s vdb, and a 16 d Merc to fill the holes I'd been trying to fill for 50 years. It felt good, and feels good to see those long empty spots finally filled. The Lincolns are very fine, the Merc a very solid good. This is my hobby to enjoy and my family will know what to do if I'm not around to sell them off. For the little it might hurt their value, or instant resale (and they have all gone up a lot since I bought them) I'm not concerned. I like them in the albums, this is the way I enjoy my sets.

wheatguy · January 13, 2010 1:19PM

Or, you can crack it out, but before doing so, take a picture of the coin in the slab. Then keep the label so you can show people what it graded at PCGS. Not a foolproof idea, but better than nothing.

dirtybird · January 13, 2010 1:36PM

It does hurt the re-sale value out of the slab. Plus PCGS has graded and determined the coin is genuine. That's worth a lot to a potential buyer. I wouldn't do it.

eggbone · January 13, 2010 1:44PM

<< It might be excellent judgment, depending on your personal goals. >>

cupronik · January 13, 2010 1:59PM

Maybe when the coin is a better date Morgan or Peace Dollar in MS-64 or better

originalisbest · January 13, 2010 2:08PM

Not a big deal either way, though you might leave instructions on how to get them re-graded, if you/your heirs ever want to sell 'em. If you do wish to sell, they'll need re-slabbing to get max value out of them. Meanwhile, crack 'em out if you like, and are able to care for them so they don't pick up scratches/slidemarks, and the like.

illini420 · January 13, 2010 2:14PM

Sort of been there and done that

Cracker's Remorse Thread

...after going through that, I probably wouldn't have a problem cracking out circulated coins for an album if I felt the need to do so, but my days of cracking out mint state coins are over!

robkool · January 13, 2010 4:07PM

If that coin sits in a genuine holder then crack it out to fill that empty void... If it's a coin in a graded holder, then no.
The choice is yours...

fc · January 13, 2010 4:25PM

if you cannot grade and you crack out an over graded coin... heck
yes it was poor judgment. Naturally if you are smart enough not
to pay full price for it, it may not be as foolish as it seems at first
glance.

so in the end there is no one right answer and since you own the
coin it is totally up to you.

PerryHall · January 13, 2010 5:14PM

Key date coins such as the 14-D cent are heavily counterfeited and are dificult to sell as raw coins. Leave it in the slab.

silvergoldnut · January 13, 2010 10:51PM

well for me , i have done it to some.i think everyone is differrent, i look at the value of the coin .

but i just can't get the nerv to crack out my pcgs 1893-s xf 45 morgan.

think of it this way, some holes are ment to be holes....

cameron12x · January 13, 2010 11:11PM

<< Get a replica to stick in the hole >>

The Chinese seem to be making replicas for every coin these days?

LeeG · January 13, 2010 11:17PM

Cracked coins out all the time when I was actively working on my Dansco 7070 Type Set Album. Had quite a few MS coins in the set. I wasn't concerned about what the coins may sell for in the future. My goal was to have a nice raw 7070 Type Set. It's all about ones comfort level and ultimate goal.

lope208 · January 14, 2010 3:34AM

If you are OK with it, and you don't plan on selling anytime soon (in the next few years at least),
then go for it! As long as it's not an MS coin...

aficoinado · January 14, 2010 3:43AM

I've been a bit of a "crack addict" myself recently. Like Lee said, when working on my 7070 album I crack mercilessly. However, coins only up to a certain price point make it in the album so the resale is somewhat of a non-issue.

RB1026 · January 14, 2010 3:45AM

IMHO do what makes you the happiest. For me personally, I like the sense of security of the PCGS holder and the level of protection it provides my coins. I am not currently working on any albums. If I was, I'd have no issue whatsoever cracking coins out. An XF coin is the same coin whether PCGS says it is or not if it is graded properly so I don't see the downside (beyond cost of certification). Down the road, in order to facilitate a sale you may see the need to have them graded again but so what. Why miss the enjoyment of viewing your collection in the album, if that's what you like, for fear of a future event that may or may not ever come to pass?? I say crack them out if it pleases you.

Roger

badger · January 14, 2010 3:47AM

I have been having the reverse decision. Do I take toned Jeffs out of the albums to put into slabs? The are typically MS65-MS66 coins so the value added by the slab may be minimal. The benefit is that I get Truviews and can track the collection online. The main determinant was that if I wanted to sell the album I bet that I wouldn't get the best price as a complete collection. Selling the coins individually would seem to find the right buyers more easily and profitably. The slabs help sell the individual coin.

So, I have been buying the album collections and cherry picking the toners for slabs. I still have a few of the albums but I don't look at them very often.

Dave

Mercfan · January 14, 2010 4:12AM

<< Key date coins such as the 14-D cent are heavily counterfeited and are dificult to sell as raw coins. Leave it in the slab. >>

If you think that your heirs will eventually be the owners or sellers of your set, I think you're doing your heirs a big favor by leaving the keys in the PCGS slabs. I'm working on three sets, one for each of my kids. Although I understand and feel the attraction of albums with completely full pages, my 14-Ds and S-VDBs are staying in their PCGS slabs.

(If it helps, you can always fill the holes with appropriately sized circles of brown paper that say something like "1914-D Certified.")

Batman23 · January 14, 2010 5:27AM

<< Key date coins such as the 14-D cent are heavily counterfeited and are dificult to sell as raw coins. Leave it in the slab. >>

Oops, I must have goofed...

I would say, do with them as you like. I would be more hesitant about cracking MS coins of high value but if you have to pay the price for the coin anyway, there is a lot of value and ease of mind in buying certified so that you know that you have a genuine coin. Both my 09S VDB and 14-D, plus others came slabbed. But I also know that they are genuine and problem free coins. That said, the expensive 09-33 part of the Lincoln set (first two pages) are high AU coins and not MS. If I can ever afford to fill that 1922 no D Strong Reverse hole in AU55, I am not sure I would crack it out... but I probably will

I have no intentions of ever selling this set. If I have to, I would likely send the keys in for recertification.

PerryHall · January 14, 2010 6:07AM

<< If I have to, I would likely send the keys in for recertification. >>

Sounds expensive and time consuming.

Bear · January 14, 2010 6:08AM

As the owner, you can do what ever floats your boat.

However, my own opinion is that a fairly high grade

or rare coin is best protected by leaving it in the holder.

Also one never knows if you can obtain the same grade after

breaking out the coin. If a coin is a red copper coin, one

would have to me mad, to ever crack the coin out.

aficoinado · January 14, 2010 6:12AM

<< As the owner, you can do what ever floats your boat.

However, my own opinion is that a fairly high grade

or rare coin is best protected by leaving it in the holder.

Also one never knows if you can obtain the same grade after

breaking out the coin. If a coin is a red copper coin, one

would have to me mad, to ever crack the coin out. >>

I basically have two collections. The plastic collections and raw (which reside in albums). Don't want to risk recertifying coins when FH, DMPL, FB are involved.

Coppercolor · January 14, 2010 6:45AM

My father has been debating this subject for years with regard to his Indian Collection. As a result it's been nearly impossible to help him collect, and he needs help because his eyesight is suffering. He is filling and upgrading an album set.

FINALLY, at the FUN show he made up his mind. I had been strongly recommending he buy a beautiful bright 1908-S MS64 Red coin in an old green PCGS holder. The coin had the eye appeal of a 65 with a couple small spots holding it back. I told him I would rather he not buy the coin, than to buy the coin and break it out of an old holder, that there was a tremendous story of originality being told by the old slab, and that it was a rare guarantee of originality. He bought the coin then told me that he'd made up his mind how to move forward. He was going to buy the easier dates raw/slabbed and break them out if he had to to put them in his album, and that he would get PCGS opinions of the more difficult/expensive/more commonly counterfitted coins and keep them slabbed. We are now both happy. Hope it was worth sharing.
Jeff

Batman23 · January 14, 2010 8:01AM

<< 

<< If I have to, I would likely send the keys in for recertification. >>

Sounds expensive and time consuming. >>

As I said, I do not plan on selling and I prefer them in the album. This is the one album set I have, a life long progression of collecting and upgrades from childhood. I also have the peace of mind knowing that they are genuine.

BillJones · January 14, 2010 8:09AM

I've learned to live with holes in albums when I know the spot is filled.

This is more true of my presidential campaign medalet collection than my coin sets. I have two certified pieces and then a number of medals that too big to fit in the 2X2 that are in the album.

Cracking out coins to put them in albums is what my old economics professor would call "a consumption act." It quite often will cost you money.

ChangeInHistory · January 14, 2010 8:14AM

<< Not a big deal either way, though you might leave instructions on how to get them re-graded, if you/your heirs ever want to sell 'em. If you do wish to sell, they'll need re-slabbing to get max value out of them. Meanwhile, crack 'em out if you like, and are able to care for them so they don't pick up scratches/slidemarks, and the like. >>

Bear · January 14, 2010 9:04AM

Folks do not often plan on selling part or all

of their collections. But circumstances arise

that make such sales, unexpected and necessary.

19Lyds · January 14, 2010 9:25AM

Slab cracking hurts the potential resale value of rare/scarce/uncommon coins.

Slab cracking also hurts the potential regrade value of rare/scarece/uncommon coins especially if a 1 point downgrade means a couple of hundred bucks. Should you decide to regrade and sell, you'd better have a really good pillow to strap to your self-kicked butt.

Is it poor judgement? IMO yes.

Musky1011 · January 14, 2010 10:10AM

say yes to crack--only for dansco sets though

yellowkid · January 14, 2010 10:21AM

Filling spaces in an album has just never appealed to me, but as has been noted here, it's your collection, how do you want to enjoy it? Having said that I don't think breaking out mint state, possibly very expensive coins to put in an album is very good business sense.

adamlaneus · January 14, 2010 10:34AM

I've cracked out coins for my Dansco.

But before I do so, I make sure I understand the economic implications.

I choose coins that appeal to me and do not have large price differences between grades. No keys. No semi keys. On a resale, I will probably resubmit them. Perhaps not. Some are right on the border of economic slabability.

The gold that I cracked out for my gold page...the indians will be submitted. So will the dollar. I'm not certain the other coins warrant it.

coinman23885 · February 8, 2010 2:35PM

Can't you place a life like image or replica in your album?

chucknra · February 8, 2010 9:54PM

<< Can't you place a life like image or replica in your album? >>

It's not as fun! Seeing a completed album is pretty cool!!! Same as having a completed homemade album full of slabbed coins!!!

BAJJERFAN · February 8, 2010 9:57PM

Well, it WAS raw BEFORE PCGS came along.

JMW · February 8, 2010 10:39PM

Put it in the album and enjoy

JRocco · February 9, 2010 5:56AM

After PCGS merges with NGC and becomes XYZ only to be purchased by ABC and then
after the bankruptcy becomes ICUP

it will be a moot point. Enjoy your coins but make sure you protect them
so they will be around in another 100 years for someone else to enjoy as they see fit.

dbldie55 · February 9, 2010 6:00AM

My 1893-S Morgan was cracked out before it left my dealers shop. What good is an album if you are afraid to put coins in it.

JJM · February 9, 2010 6:14AM

photo it in the slab ,crack it, and save the insert...im sure if you had to
sell it i would think you would know someone who would trust you on it

Bear · February 9, 2010 8:48AM

Times change and actions must change with the times. The guarantee that PCGS provides for their
coins ,make the thought of cracking out rare dates that are often found in phony state, increasingly
dubious and unwise, to say the least.

pakasmom · February 9, 2010 8:59AM

Bear!

silvergoldnut · February 9, 2010 9:34AM

<< out of PCGS holders to put in albums?

Say a 1914-D Lincoln in XF-40 condition. That hole in the album is mighty irritating BUT the liquidity provided by the slab does have its value.

>>

do what you want......

Is it Poor Judgment to Crack Coins...

Comments

Leave a Comment