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To grade, or not to grade - that is the question
smh
Posts: 38 ✭
I think I've figured out what my issue is. I know that some coins need profession grading and I'm fine with that and willing to pay for the service. But, how do I know which coins should be graded? Should I be comparing them with, for example, Red Book info and self-determine what might be worthy of grading? Realistically, I can't send in hundreds of coins. Thank you.
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No you cant. A more realistic strategy would be say 5-10 pieces at a time. Then step back and evaluate if more per submission.
My cutoff - For me unless the coin has Market Value of $200-$300 or more not usually interested in adding grading cost to my cost in it.
Being in the business I operate on a narrow spread.
Start with the highest MV coins first. Then evaluate what works for you - budget, goals, etc.
That’s a good question with multiple answers. I would say the red book would be the first start. You can identify the coins that might be worth something and thus weeding out the ones not worth it.
As for the ones that make the cut you can compare pics from CoinFacts or another photo grading standard to get a rough idea of grade. Then you can see what pricing it would be and whether it’s worth it.
Of course, if there is something potentially very nice feel free to post pics here and ask for advice. If there’s one thing this forum excels at it is giving advice
TurtleCat Gold Dollars
Share a list of what coins you think need certification, the grades you believe they are and some quality images with us here on the board and you will get valuable input. Otherwise, you are wasting your time.
In honor of the memory of Cpl. Michael E. Thompson
I use the $200 added value rule, but that’s just me.
Are your end goals to collect or sell?
If selling... Anything you sell raw, properly photographed, and marketed with patience will find a buyer at what the market will bear. Unless it is a key date, no plastic and paper label will add much of a premium worth the time and hassle of grading.
Collecting or flipping as a side hustle?
I grade a few every month for my PC and to flip on Ebay.
Mostly, it gives me a fun chance to test my modest grading skills.
Some series, I just get my tail handed to me.
Money is secondary, and you have to pay a tuition so to speak... in both money and the learning curve.
My advice is to buy nice coins in the holders.
Use them and those you grade as a grading set more or less.
Go from there.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Some people slab low value widgets that aren't worth it just because they want to match the holders.
Assuming you are not doing that, it's all about value added:
Otherwise, it is fine to be raw.
If you have an uncirculated coin that is clearly uncirculated and worth $1000, it may not be worth slabbing because it gains no value from being in a slab.
On the other hand, if you have a $60 coin that could be worth $200 if it gets into an MS65 holder, then it is worth slabbing.
I know this is the PCGS forum. But there is nothing wrong with having a 100% raw collection. Depending on what's in your collection, that could be preferable to spending thousands of dollars on plastic coffins that add no value.
yeah.
post up what you have (type, date, mm, grade) with some straight on, focused and well lit pics.
we might can save you some time and money.
If you're not selling soon, there's no compelling reason to get them graded. If you're trying to get your estate in order, it's a reasonably good reason, but that could be done at a later date without too much difficulty. It is a huge expense, and only worth it if it actually adds value.
If you don't actually know that you're a good grader (most people overestimate their abilities), I'd strongly advise having someone knowledgeable take a look at them and make recommendations. There are dealers who will be happy to do this, either for a fee, a shot at buying some of them, or occasionally just because they're nice guys.
If you give us a general idea of what part of the country you're in, we could probably make some recommendations about how to hook you up with someone with a good eye. Someone who knows what they're doing can determine if a coin warrants grading in 15-20 seconds.
Alternatively, you can do what many people here do and just throw a bunch of stuff at the wall and see what sticks. It usually ends up as an expensive education with a negative return on investment.
Whenever in doubt... after consulting the experts on this forum.
.99 cent auction
7 or 10 days
Ending Sunday night around 8pm Pacific
Good pics with zoom
Build it
Be patient
The specialists will find it and it will reach close to full value
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
You really have to look at all the costs incurred in slabbing a coin. Your time involved counts too. Then add the cost of shipping/insuring to and then from as well as the actual cost of slabbing. If your talking about spending 20-25% of the value of the coin in question, is it worth it to get it slabbed ? Maybe a 3 dollar protective container may be the ticket.
Anyone can grade for you, [perhaps not accurately] but the question is:
To slab or not to slab.
BHNC #203
First with the bad news....you can have 100 year old coins that are virtually worthless. Forgive me if you posted details about your collection on another thread, but if you share the type of coins you have ideally with some pictures the members here can help you figure it out in a hurry. For example, pre-1933 US gold coins?
Thank you, all, for your thoughtful input. Actually, when I first started - all of three weeks ago when I opened boxes and bags and those old blue books with silver coins that my late mother left me/my son - I thought I had a treasure chest, especially with all of those Morgan dollars and a large collection of commemorative coins that don't seem to be very popular (yay Mom!). Now ... pretty sure I don't! Anyway, I've spent some very enjoyable weekends and evenings carefully looking at my Red Book and other references (including the Internet), placing dozens and dozens of coins in flips, and meticulously writing their year and description. Looking back at many comments, I probably shouldn't have bothered spending so much time on coins that clearly aren't worth anything.
Hope you won't think less of me (!) but I'm thinking of starting to sell some of the collection. Practically speaking, my son could use some of the sales towards graduate school tuition. No rush on my part and I'm going to follow your advice and do some "self-grading" before selling as I learn more and more about coins (and the several old bank notes) I have.
And, thank you all for your offer of posting some pictures. My first try of posting a few pics to another discussion was a total visual and embarrassing disaster so I'll try again after practicing. You guys have been so welcoming to a newcomer - please know that your support is very much appreciated.
It's only a waste of time if you're only looking at financial return. If you're enjoying the education you're getting, or starting to develop a hobby, or even just stepping away from the tension of watching 24 hour news, there i tremendous value in that.
I'm absolutely loving learning about coins - my dining room table is piled high with coin books and printouts, even a book about U.S. paper money. Before, I never gave any thought to the history of anything about our monetary system - didn't even know about mints (what? West Point?). I'm not a history buff at all but this stuff is fascinating. And coins can be so beautiful, truly works of art.
@smh.... You are starting well... Books, internet information and joining this forum. Old collections often have a lot of mediocre coins (mine does too)... Sometimes they have some treasures as well. It is a great hobby and filled with history and art. Have fun, post some pictures as you gain confidence.... Members here - some of the leading experts in various areas are contributors - will help you in identification, evaluation and provide supporting information.
Good luck, Cheers, RickO