Raw coins not graded
Husker73
Posts: 35 ✭✭
I have a coin shop that I buy from that sells raw coins that don’t have grades on them. The owner will tell me the grade that he thinks they are if I ask him. Is this the way most coin shops operate?
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That or they give horrible advice to people who don’t know how to grade. I’d suggest learning how to grade raw coins before diving headfirst.
Learn how to grade conservatively and make your own grading decisions. Don't rely on the opinions of others.
That sounds perfectly normal. Learn to grade and make your own decision on whether to buy or not. More honest than pushing his opinion on grade.
Yes that is how most coin shops operate, problem is do you know if he can actually grade coins, many coin shop owners and staff either cannot or can but take liberties with grades when they have the opportunity to. As already noted, you need to learn how to grade yourself when buying raw coins.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I absolutely love buying from a dealer who has raw coins.
Nothing I enjoy more when I go to a coin show or to a store.
It's a complete put-off when all they have are plastic slabs.
I have made a killing over the years because I know how our Canadian grading company (ICCS) grades.
I have not mastered (or even close to mastering) the more complex (at least to me) puzzle of figuring out what the US grading companies look for when they grade.
I'm more than content to stick with ICCS Canadian coins on a regular basis and leave the once a year US submission to PCGS or NGC to chance, as it is a total guess work of my grading skills.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
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I have a lot of Foreign coins, and Canadian from an inherited collection, I just started learning about them
I have a lot of Foreign coins, and Canadian from an inherited collection, I just started learning about them
Does he only tell you how he grades them or does he help you learn to grade?
Does he have a library for research and customer use or is everything a secret?
Yes, you MUST learn to grade for yourself but you have to start somewhere.
Have you thought about going to summer seminar at the ANA to take a grading course or their correspondence course? Have you sent a few of his coins to a grading service to “test” his grading skills?
I have a B & M store and welcome all of these challenges. It is what makes return customers. Some of mine are third generation collectors.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
If you check PCGS Coin Facts and look under Resources you'll find a section called Photograde. There's pictures of coins in each grade for all the major series. It's a great resource for learning the basics of coin grading.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Reminds me of a dealer back in Ohio that bragged about selling at Bid to his retail customers. Sounds great, except he overgraded everything….
I put grades on my raw coins (my table at shows) but not numerical. Cheap collector coin Stuff like VG common date Barbers, etc. Or UNC World Coins. Not stuff would spend money getting graded.
I find it unusual he does not put grades on them. Perhaps it’s not worth his time. My policy of course would be (if shop owner) all sight seen transactions are final. If you don’t know how to grade then buying raw coins except bullion or junk probably not for you. There is no free ride in numismatics. It’s your responsibility learn how to grade.
One i have dealt with in the past will NEVER give a grade on his raw coins..........
all he will ever give you is a price$$$$$$..
have asked way to many times in trying to learn, and when I ask what do you grade this one???
I grade it $236 etc. is always his reply.....
Yes he is one I never go to anymore.......
But that's all you need to know.
Or at least that's what I realized when I went into a local coin shop for the first time in 30 years and ended up arguing with the seller about grading, TPG services, and whether a "Fine" SLH should have all letters in LIBERTY visible. The shop owner said yes, and I argued that that isn't the standard these days. He got angry and tossed me out of his shop.
Standing outside, I thought "WTH just happened?" My fIrst coin shop in 30 years and I get tossed out in 3 minutes. I lasted a full two minutes longer at the last coin shop I was in 30 years ago.*** Then I realized that he was right, that standards vary, that all one has to agree upon is the price, not the grade. I went back to the store, apologized for getting into a grading argument, and agreed that only the price is important.
It's a shame that many dealers aren't more helpful, but one should have a good understanding of grading in their series and grading in general when one goes into a coin shop. Most dealers overgrade their raw coins so either you need to know grading or you should purchase slabbed coins.
*** - Crooked Chicago Loop dealer offered to pay bullion to a relative of the deceased collector for a complete Mercury dime collection. I pointed out the 16D to her and got tossed. This happened immediately after the dealer told me that I couldn't have the G Bust dime I found in his $2 junk box for $2. He didn't have a more expensive junk box where the coin could have come from.
So in addition to the advice above about learning how to grade conservatively, you then need to learn how to determine value. Which as mentioned is the real bottom line.
This! Not all VF30s have the same value...
Smitten with DBLCs.