New to coin collecting
mkc
Posts: 2 ✭
New to coin collecting but have done some research. However. still a little confused about buying slabbed coins vs coins that are not slabbed. what is the most popular opinion on this subject.
Have mostly slabbed coins but starting to second guess myself and wonder if paying the premium for a slabbed coin is really the way to go.
Best Answers
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Walkerfan
Posts: 9,361 ✭✭✭✭✭
Slabbed coins are better, as they are more liquid and worth more money.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
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dpoole
Posts: 5,940 ✭✭✭✭✭
Hi, MKC, and welcome!
The boilerplate for such questions is to advise you to buy a Red Book (The Official Red Book: A Guide Book of United States Coins 2020), to proffer you basic guidance about what is (relatively) valuable, and what is not.
Assuming you've already done that, I'd certain suggest that you stick to PCGS or NGC certified coins in the beginning, since there is so much counterfeiting and artificial altering of coins out there, seeking to fleece collectors.
I've found it tremendously helpful to find a mentor, maybe through a local coin club or even here, to guide you through the early pitfalls.
Good luck.
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CCGGG
Posts: 1,267 ✭✭✭✭✭
The above comments are good and pretty much on target, in my opinion... For myself, I collect both... As a rule, for lower value coins (less than $500 each) I typically will collect raw...
Example I have a complete set of raw wheat cents, except for a very few that I bought slabbed (e.g. 09s VDB). I completed the set based on eye appeal. Early years (pre 40) are VG to XF and the later years are all BU, but almost all are very inexpensive... Except for a few, the slabs would cost much more than the coins and I'm not worried about professional grading or fakes.
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Answers
Welcome to the forums!
Raw versus slabbed is a choice.
What is your focus in the hobby, i.e., what do like and want to collect?
The higher valued coins you may want to purchase already slabbed due to counterfeits.
Welcome to the forum, great place to learn as a beginner or expert!
Graded coins in PCGS, NGC and ANACS slabs are a safe way to make sure the coins are authentic and accurately
graded for the most part. Easier to assess the values too. Slabs There are great raws out there but you have to be
careful on the price. I prefer slabbed coin in general.
Raw coins are can be nice but it takes many years to grade most somewhat accurately, if one has the talent. Safest
to buy them from a reputable dealer who imo. For inexpensive ones, it doesn't matter were you get then from!
Here are some good sources to assess values:
http://www.numismedia.com/fmv/fmv.shtml
https://www.coinworld.com/coinvalues
https://www.greysheet.com/coin-prices
@mkc ....Welcome aboard.... The above advice is very good....Yes, there is a premium for slabbed coins... you get a guarantee of authenticity, a professional opinion of grade, and protection for the coin. A good investment for those beginning in the hobby....Raw coins are always a risk, especially for new collectors, but even for experienced people, since there are so many types of potential issues. Ask questions here... there are many experts who are willing to help. Good luck, Cheers, RickO
As long as you educate your self before you make the commitment to buy ... either in plastic or raw you should be ok.
Welcome
Welcome, mkc. Which series are you collecting? As CCGGG suggests, getting a coin certified involves somewhat the question of whether or not the value of the coin warrants the expenditure.
Until you know whether or not coin collecting is for you, you might try collecting circulated, lower-cost raw coins in order to get a feel for how coins are graded and how the grade relates to value & cost. There's also a certain amount of gratification to be had and a higher level of appreciation in being able to actually touch the coins you collect.
One other consideration - depending upon the series, you should consider what the ultimate cost will be for the collection in the general grade level and the "look" of the coins that appeal to you. This will help keep you on track as the collection progresses.
Good luck!
I knew it would happen.
Thank you everyone for taking time to answer. Much appreciated. Being new it sounds like the safer bet is to stick with slabbed for now with most coins. Been sticking to Morgan's, Lincoln Cents, and American Silver Eagles and trying to pay attention to key dates. Very Good Info above. Thanks Again
In addition to the above GREAT advice, there is also the PCGS app (which is free) that has the price guide, populations AND photograde. You can buy some inexpensive raw coins to start learning how to grade.