ICG Graded Coins - Worth It?
interpols
Posts: 51 ✭✭✭
I am trying to get another Morgan Silver Dollar, and I see one that looks really good but it was in a grading slab that I didn't even know existed, after a bit further research I founded that it was graded by the ICG company
My question is; should I get it? I don't know if it being not like one of the top companies makes it any less valuable, and I'm not good enough to know its grade compared to others on its own, I would be thankful for any advice
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I gues it depends on your plans and preferences. For instance, Great Collections starts all auctions for ICG coins at $1 dollar. Since I plan to sell my future purchases thru them i avoid ICG coins. Not because of doubtful grading; I just know my future plans.
Know this though. I have sold 3 coins in ICG holders on Great collections and all 3 sold for solid premiums. It didn't hurt that they were also all top coins in my collection that I had held for decades. Again, what your future plans are will make a difference. best of luck no matter what you chose. James
1888 is a common date Morgan Dollar. With silver at over $100 per ounce this is not the time to be putting money into Morgans that depend heavily on their silver content for value. If the price of silver declines the value of common Morgan Dollars are likely to decline. If you want another Morgan Dollar look for a better date that now commands little or no premium over the common date coins.
ICG coins are probably accurately graded. Remember that what you are buying in a slabbed coin is an "opinion".
I don't like bidding on blurry photos or from sellers without a good closeup. As stated common date. Before silver run up, a $50-60 coin. Would hesitate buying for $80+.
Considering that 1) you don’t know the value of ICG coins relative to that of other companies and 2) you’re not (edited for typo) good enough to know its grade compared to others on its own, you have two very good reasons not to but the coin at this time. And, while this might not be nearly as fun, it would be better to slow down on your buying and spend more time studying the market and grading.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
gotchu, i'll wait a while for silver to go down
Gesundheit
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Grading isn't that hard, Mark
That coin was graded when Walt Armitage and JP Martin were top graders. ICG apparently guarantees the grades on those though ownership has changed. Anacs does not guarantee the small white holders or blue holder coins, only authenticity.
With silver so high, Greysheet CPG (Retail) prices between AU50 and MS63 only vary between $130 and $145. So even if it's somewhat "overgraded", your risk as far that is concerned is quite low. So if you want it for your collection I say why not.
If, however, you want it as some sort of "investment", well..... silver (around $115/oz as I write this) VERY WELL COULD keep climbing to the moon. It also VERY WELL COULD crash like a big rock dropped from a tall building. Once I find the charger for my Flux Capacitor I'll let you know which
I've made more money off of ICG slabs than any other.
Good point, Jeremy. 😀 Thank you - I’ve edited my post.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
ICG is a good company which provides helpful services to collectors at the shows here in Florida. They provide grading and authenticity options for free (but not the slabbing, of course). Their grading can be little less strict than the top companies, but my experience has been that they are never “way off.”
I believe that Heritage does not accept their slabs for auctions. For a casual collector, who does not buy expensive coins, that is not important. For those who do expensive material, it might be a consideration.
Jimmy had one (a slabbed silver qtr) that sold lately for $20 which was around melt. His ICG stock had not sold any in ages. People are buying ICG stuff they can pickoff at or near melt?
I have a few ICG coins, like them.
I had one of those old holder ICG $20 Libs. an 1852-o in AU50 that graded AU55 at NGC. Also recently had a recently graded Morgan dollar, better date with a $1K plus upgraded to cacg, so they do make undergrading mistakes.
I hear you, you can find some real gems. I bought a Proof 69 64 Kennedy that was an unattributed Accent hair that graded Proof 68 Cameo with NGC. I made bank on that.
Edited to add, I go straight to ICG slabs at coin shows.
Actually if this is the listing
https://ebay.us/m/q59qeZ
at an asking price of $119 he's asking IMHO a bit much for it. Compare to other common date Morgans in the MS62-MS63 range.
Also not a fan of the blurry photos
What if silver does not go down? Have you considered Jeffersons or Lincolns while silver and gold are at all-time highs?
I don’t like Jeff and Lincoln’s.
I don’t believe silver will go down time any soon. As a matter of fact increasing. Many getting into ASE, Mexico Silver Libertads, GB Silver Britannias. Super for investment! The slabbed pieces carry nice premiums. Take a look at what the key date Mexico Silver Libertads are doing (CDN CPG). Fun to collect too.
As far as silver it’s increasing at such a rapid rate…..I bought some CACG MS70 ASE about ten days ago and their MV has advanced substantially as they were in the green when received! Many in the coin club can’t afford USA $20 Gold Saints, Libs, etc. Ronnie had to sell his to get a new car, and pay off some cc debt. Others have ther $20 gold in bank box.
I bought this ICG MS68FB 1939-D Dime for $160 in 2007. About a year later I cracked it and sent it to PCGS. It came back MS68FB and I sold it for $1000. The way I figured it if I could get it into a PCGS MS67FB holder I'd break even. I guess I did well.
You just have to know your series.
BTW, this dime probably came from that colorful hoard of 39D times that hit the market in the mid-90s....of which TomB had a great example of. It might have been the nicest I've seen.
jom
Way to go!
Have had good performance from them too, like the way they stack.