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Are there still many collectors who collect non-slabbed coins?

Curious?

Collecting interests: Mexico & Peru early milled 1 reales + 1796-1891 US dimes

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  • Tom147Tom147 Posts: 1,406 ✭✭✭✭✭

    I still do both. Mostly moderns in the raw, keeping my Dansco albums up to date. Those are actually mint & proof sets. Shying away from buying older raw off the internet as my last several purchases sight unseen have not been as described.

  • alaura22alaura22 Posts: 2,466 ✭✭✭✭✭

    40 or 50 years ago, not so much now. In fact never now! What I'm looking for you probably wouldn't buy raw

  • MilesWaitsMilesWaits Posts: 5,297 ✭✭✭✭✭
    edited December 2, 2023 8:23PM

    Yup!,

    Now riding the swell in PM's and surf.
  • Cougar1978Cougar1978 Posts: 7,451 ✭✭✭✭✭
    edited December 2, 2023 8:42PM

    Absolutely. - I have collector coin customers that buy raw coins (under $100) all the time starting $1 and up. Helps pay show expenses. One guy bought $16 worth raw collector coins helped pay that nites whataburger meal from drive thru. Plus have Stacks of raw banknotes - many gem cu. The Iraq Arabian horses Note a popular seller. Mexico banco notes very popular. It’s that material I use the CACG coins bought recently (advertising) get them to table buy the collector stuff. Sweet. I had a $75 priced raw Mexico BU 1930’s Peso sell recently. Many coming in bourse room only have so much to spend.

    So Cali Area - Coins & Currency
  • goldengolden Posts: 8,962 ✭✭✭✭✭

    A lot more collectors collect raw coins than slabbed ones. I however only collect slabbed.

  • jacrispiesjacrispies Posts: 670 ✭✭✭✭✭

    I only collect raw coins, capped bust half dollar specialty. Even mid to high AUs I crack for closeup study.

    "For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord" Romans 6:23. Young fellow suffering from Bust Half fever.

  • Cranium_Basher73Cranium_Basher73 Posts: 2,665 ✭✭✭✭✭

    If you want to get technical, wouldn't buying coins from the mint qualify?
    Other than mint products, my last raw coin was a 1883-CC $20. Which I held for 15 years before I got it graded. Came back as a 45.

    Throw a coin enough times, and suppose one day it lands on its edge.

  • alaura22alaura22 Posts: 2,466 ✭✭✭✭✭
    edited December 2, 2023 10:15PM

    @Cranium_Basher73 said:
    If you want to get technical, wouldn't buying coins from the mint qualify?
    Other than mint products, my last raw coin was a 1883-CC $20. Which I held for 15 years before I got it graded. Came back as a 45.

    What grade did you buy it raw as?

  • mark_dakmark_dak Posts: 1,056 ✭✭✭✭✭

    @124Spider said:
    A better question, I suspect, would be, "Are there still many collectors who collect expensive non-slabbed coins."

    Many of us are, fundamentally, album-collectors. Speaking for myself, I would love to own no slabbed coins, and have my albums contain all my pretty coins that now are slabbed. The album would look better (no placeholder-coins).

    But I buy all my expensive coins over the internet, based only on photographs and how much I trust the vendor. So I am unwilling to spend big bucks (defined as more than about $200) on a raw coin. I am also of the opinion that there is absolutely no reason for a professional vendor to be selling $1000 raw coins, when the same coin, slabbed by a reputable TPG, would be much easier to sell (translating almost certainly into a quicker sale for more money). So I make the negative inference that there must be some reason they chose not to get the coin certified/graded, and I don't like any of those reasons.

    Also, of course, I am mindful that, when it comes time to sell my coins, they'll be easier to sell (quicker and higher sale price) if slabbed. So I have lots of slabbed coins. But I have far more raw coins, since most coins since about 1930 are not expensive.

    Respectfully, there's a lot to quibble with in your comment. Not exactly sure what you consider "expensive non-slabbed coins" but I have bought plenty of raw coins with substantial value. I certainly will purchase "expensive non-slabbed coins" but some may end up being encapsulated after I buy. Smart purchases of those coins offer the best upside IMHO.

    I do not own or use albums at all. I am more a stacker/collector especially fond of pre-1933 American gold. I ended up purchasing so many that I accumulated a mini collection. Most are raw but as opportunity allows I do pick up some tougher dates and slabbed as well.

    I have bought a few off Internet auction sites but personally prefer purchasing in person verifying the authenticity and value of each purchase. If you are buying your most expensive coins slabbed then you are most likely paying based on Greysheet prices... little chance of seeing much upside at least during the near future. As for vendors, would suspect quickest sale is turning a raw coin at a profit. No costs, multi-month waits for TPG grading, no surprise "Details" coins... just a quick profit to keep the lights on.

    I have purchased a number of "higher valued" coins and subsequently ended up sending in several for TPG grading and authentication but the bulk sit in air-tites safely stored in a SDB. The bad news is I do have to enjoy them with pictures. I will have absolutely no problems selling the coins I have picked up and while I may not get the same price your slabbed coin gets, my purchase price was far less than your cost of TPG coins.

    Mark

  • ajyasajyas Posts: 38 ✭✭✭

    @PillarDollarCollector said:
    Curious?

    My collections not massive by any means, but I only own one slabbed coin that I got for a good deal (MS64 1943-S Cent). I mainly like to fill albums but I think steel cents are really cool due to the history behind them, even if they aren't worth much.

    </> Everybody wants to get the bread, but no one wants to eat the crust. </>

  • Cranium_Basher73Cranium_Basher73 Posts: 2,665 ✭✭✭✭✭
    edited December 3, 2023 12:03AM

    @alaura22 said:

    @Cranium_Basher73 said:
    If you want to get technical, wouldn't buying coins from the mint qualify?
    Other than mint products, my last raw coin was a 1883-CC $20. Which I held for 15 years before I got it graded. Came back as a 45.

    What grade did you buy it raw as?

    Honestly, I don't remember. Maybe xf. I put it in an air-tite holder shortly after I bought it in 2003. It was graded in 2018.

    Throw a coin enough times, and suppose one day it lands on its edge.

  • johnny9434johnny9434 Posts: 27,321 ✭✭✭✭✭

    I still like albums and the sorts. There's enough loose coin to keep me happy

  • lcutlerlcutler Posts: 490 ✭✭✭✭

    I've bought a few slabbed coins, but only because they were the coin I wanted, not because they were slabbed. I broke out a couple for albums, and I have two still in slabs, I'll probably break them out at some point. Most US colonial collectors prefer raw coins, as do most ancient collectors.

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭
    edited December 3, 2023 2:18AM

    I may have to review my collector status :D
    I have about 4 dozen slabs, countless 2x2's and who knows how many raw coins.

  • Morgan13Morgan13 Posts: 722 ✭✭✭✭✭
    edited December 3, 2023 3:58AM

    I have purchased many raw coins and initially I was getting burned. It's difficult to buy raw coins on the internet. Two many pitfalls. Problem coins, over-graded and so on.
    Now I will only buy slabbed coins and yes I have cracked out many. Why? Because I have 0 intention of selling them.
    The coins I do have in slabs may someday be sold or traded.
    I collect Morgan's dollars pretty much exclusively. I believe there are still many raw coins that can be bought at a good deal BUT I need to see them in hand, with a loupe and a decent light.
    I also have a subscription to Grey sheet which is an important tool. I will sometimes pay more if the coin is that nice.
    So to sum it up I buy 95% slabbed and 5% raw. I had to learn the hard way. If your new to collecting don't let this happen to you.

    Student of numismatics and collector of Morgan dollars

  • FranklinHalfAddictFranklinHalfAddict Posts: 650 ✭✭✭✭✭
    edited December 3, 2023 4:28AM

    I have a binder full of raw coins! I also have several albums in the works as well.
    If I see a coin I like at a price I like I will buy it whether it’s slabbed or raw.

  • OnastoneOnastone Posts: 3,743 ✭✭✭✭✭

    @Morgan13 said:

    I will only buy slabbed coins and yes I have cracked out many.

    After you crack them out, do you keep them loose or in protective capsules? I find them both enjoyable to keep totally raw, but also keep most in capsules.

  • coastaljerseyguycoastaljerseyguy Posts: 1,208 ✭✭✭✭✭

    I'm an album collector and today will only buy slabbed and crack out for my upgrades. When I started collecting 20 years ago I bot about 400 coins on EBAY over a 4-5 year period, probably 70/30 raw to slabbed. My price range was $25 - $500. At that time EBAY was a great venue to buy coins and many nice raw Morgans, Peace & WLH coins were for sale that were legit, i.e. no issues. There were several sellers of raw coins that were trustworthy and always had inventory for sale. I think the legit sellers greatly outnumbered the scam artists. I bot many raw coins from Collector USA in Montana. Not sure if I was lucky or had a good eye, but think < 5% of the raw coins I bot had issues or severely over-graded. Raw MS coins were truly MS and key date circulated coins were gradable. Also ANACS old white slabs were everywhere and cheap compared to PCGS & NGC. At the time the old ANA and 6 digit holders were prevalent on EBAY and I bought many.

    Today I wouldn't touch a raw coin on EBAY, so much garbage, 'enhanced' photos and scam artists out there.

  • WCCWCC Posts: 2,340 ✭✭✭✭✭

    @124Spider said:

    I am also of the opinion that there is absolutely no reason for a professional vendor to be selling $1000 raw coins, when the same coin, slabbed by a reputable TPG, would be much easier to sell (translating almost certainly into a quicker sale for more money). So I make the negative inference that there must be some reason they chose not to get the coin certified/graded, and I don't like any of those reasons.

    Agree with this part of your comment for US coins. It's a lot less true of non-US coins which is what the OP (primarily) collects.

  • jmlanzafjmlanzaf Posts: 31,306 ✭✭✭✭✭

    @124Spider said:
    A better question, I suspect, would be, "Are there still many collectors who collect expensive non-slabbed coins."

    Many of us are, fundamentally, album-collectors. Speaking for myself, I would love to own no slabbed coins, and have my albums contain all my pretty coins that now are slabbed. The album would look better (no placeholder-coins).

    But I buy all my expensive coins over the internet, based only on photographs and how much I trust the vendor. So I am unwilling to spend big bucks (defined as more than about $200) on a raw coin. I am also of the opinion that there is absolutely no reason for a professional vendor to be selling $1000 raw coins, when the same coin, slabbed by a reputable TPG, would be much easier to sell (translating almost certainly into a quicker sale for more money). So I make the negative inference that there must be some reason they chose not to get the coin certified/graded, and I don't like any of those reasons.

    Also, of course, I am mindful that, when it comes time to sell my coins, they'll be easier to sell (quicker and higher sale price) if slabbed. So I have lots of slabbed coins. But I have far more raw coins, since most coins since about 1930 are not expensive.

    I don't fully agree. However, at the very least you need to exempt coins whose price tag is predominantly bullion. For example, a circ $20 is around $2000 but for common dates there is zero benefit to getting them slabbed.

    And there are legitimate reasons not to slab a moderately expensive coin:
    1. The price increase will not match the expense.
    2. You don't want to wait 3 or 4 months to recoup your costs.

  • Cougar1978Cougar1978 Posts: 7,451 ✭✭✭✭✭
    edited December 3, 2023 7:13AM

    I have one show customer who collects raw barbers G04 and above. Snother guy buys Mexico raw coins. A dealer who sets up across has 30 plus binders of raw coins in 2x2 - he’s always busy. A guy setup next to me had everything under the sun. He sold about 35 raw coins to a young guy.

    Many other buyers into raw currency. Not everybody wants spend money on slabbed coins or has the money for material over $100.

    So Cali Area - Coins & Currency
  • ShaunBC5ShaunBC5 Posts: 1,594 ✭✭✭✭✭

    I used to be 90% raw buying because I couldn’t afford slabbed and was able to visit shops and shows regularly. Now I live in a place that is quite rural and I’m 90% slabbed (increased budget and decreased viewing opportunity). At this point I’m more leery of my grading/authenticating skills than anything.
    I think there’s still a ton of movement in raw coins below $100 and I would bet a lot of coins in the $100-500 range sell raw if they come into a shop/show like that. I think they might get bought/sold a little cheaper, but the spread is still there for the dealer without waiting for grading.

  • Dave99BDave99B Posts: 8,315 ✭✭✭✭✭

    Other than 90% junk silver, I don’t think I’ve purchased a raw coin in 15+ years.

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • mirabelamirabela Posts: 4,942 ✭✭✭✭✭
    edited December 3, 2023 9:43AM

    I still collect both. I don't generally buy anything very valuable outside TPG plastic anymore. When I was actively building my 7070 type set I cracked out quite a few coins for it. I think about 16 of the coins presently in that set were ones I cracked out. I wouldn't necessarily do that again -- it's just going to add expense and hassle when it's time for me or my assignees to rehome them -- but I do enjoy the way the whole situation presents in its album.

    In general I've been a net seller of raw coins in the last decade, and my acquisitions have mostly been slabbed, but I view a good many raw coins as part of my core collection that I intend to hold indefinitely.

    mirabela
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭

    The vast majority of my collection is raw.

    Some coins are just plain "Interesting"
  • TiborTibor Posts: 3,145 ✭✭✭✭✭

    @coinbuf said:
    As shown there are many collectors that enjoy the collecting of raw and/or slabbed. I enjoy both myself, this F/VF merc set is a fun diversion from the serious stuff.

    When you decide to fill in the 16-D Merc., will you buy slabbed
    and break it out?

  • coinbufcoinbuf Posts: 10,620 ✭✭✭✭✭

    @Tibor said:
    When you decide to fill in the 16-D Merc., will you buy slabbed
    and break it out?

    I have already had a 16-D that I then sold after the key date thing wore thin so I may never bother to fill that hole. But should I later decide to it will depend on whom I might buy it from, there are a few dealers that between them and myself I am confident that a decent, genuine raw coin could be acquired from.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • nwcoastnwcoast Posts: 2,816 ✭✭✭✭✭
    edited December 3, 2023 11:28AM

    Yes. I started with albums as a kid and still love the look and feel of a nice album set.
    I have completed several as well, though over the past few years, when purchasing a significant coin, I prefer to purchase slabbed pieces. Early into that, I was cracking them but at some stage I switched to just adding photos to the album spots instead.

    Over the past couple of years though, I’ve enjoyed completing a nicely circulated set of Walking Liberty halfs in a Dansco and upgraded my mostly circulated Franklin half Dansco to Unc- all purchased raw with the single exception being the 21-d Walker (not cracked).

    More and more though, I’m going to be pulling coins from my albums and submitting them for grading.
    I’ve been around the block a few times when selling raw coins and paid some tuition along the way and I don’t want my surviving heirs or increasingly cynical older self jumping through that minefield when it comes time to sell.

    Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014

  • CRHer700CRHer700 Posts: 411 ✭✭✭✭
    edited December 3, 2023 1:19PM

    I do. I don’t own a single slabbed coin because I don’t want to cough up enough FRNs to buy any! :D
    Raw coins are much cheaper. :)

    Cheers, CRHer700 :mrgreen:

  • dhikewhitneydhikewhitney Posts: 355 ✭✭✭

    Certainly, but not for the same price as PCGS/NGC

  • rsei0120rsei0120 Posts: 124 ✭✭

    I inherited a large collection, I have started to send a few into PCGS for grading, most are very nice, but I don't feel to spend money on for slabbing. Im learning what I like and don't really care to collect. I have a lot of the wheaties of course so I am down sizing on my collections of pennies, franklins, Kennedys, nickels, dimes and quarters, so I can purchase other coins I am interested in I am fascinated by the Gold Indians, a few of the Morgans not all, I also have a lot of foreign coins, but I have not even started on those...lol, I love coming on here and learning and reading and see what you all have to say. So when someone asks if I have such and such a coin yes, I most likely do have...Thank you all for your talking about your coins, I keep learning so much...

  • Morgan13Morgan13 Posts: 722 ✭✭✭✭✭

    @Onastone said:

    @Morgan13 said:

    I will only buy slabbed coins and yes I have cracked out many.

    After you crack them out, do you keep them loose or in protective capsules? I find them both enjoyable to keep totally raw, but also keep most in capsules.

    I use Intercept 2X2 squares and put them on display on an easel.

    Student of numismatics and collector of Morgan dollars

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