Coin vs. Holder

Whitewashqtr

This is not meant to be a debate, but a realization I had after going to ANA that I would like to share with you!! People truly love their coins and I enjoyed the show tremendously. Listening to other people stories and just seeing some incredible, unbelieveable coins was a great experience.

I am beginning to aprpeciate the coin more without paying as much attention to the grade of its holder. I do buy slabs and only PCGS, but there are crummy MS66's and there are really nice ones. Yes, I have bought the holder (as we all have) and other coins sight unseen, because they were finest known. I also have not been interested in the Registry as much and I am thinking of taking down my set until it is complete. I think the Registry promotes buying high grade coins, but not necessarily quality coins. There are many coins overgrades as well as undergraded.

But, during the time I have taken to learn about the series I am collecting, I have learned one thing for sure, BE HAPPY WITH THE COIN YOU BUY, regardless of the slab that its in!!

I bought a 32S during ANA that is outstanding. Although it grades MS64 (there arent many higher), it is truly a great coin and one that I immediately treasure. I have looked a long time to buy one and this one finally felt right.

I look at my set often and there are so many real beauties to be found, especially the original early dates. I am very proud of the set I am assembling (1932-1998 Washingtons) and would hope other people would appreciate it as much as I do.

How many people have been susceptible (sp?) to putting a coin in their collection because it is labeled with a high grade or needed for the Registry?

braddick

Great lesson there. Buy what makes YOU happiest.

GQ

Good job on the thread.....Well said..........

NICKEL TRIUMPH....

dpoole

I'm been going though the same evolution. I did go through a period of buying the grade to finish out my sets, but I have not been happy with some of the acquisitions I made then. Now that the sets that matter to me have the holes filled, I'm back to looking at the coins with care without regard to the holder and the posted grade, and I'm enjoying the hobby more again.

True confessions from a recovering slabbite!

Will you me my sponsor, whitewashqtr?

Whitewashqtr

Sure David. We can sponsor each other. I know you collect washingtons and would appreciate your comments on a post I have in the US Coin forum about the 32S. Regards.. Nice to hear form you!!

oreville

dpoole: Good to hear you admit that. This is one of the reasons I never joined the registry set bit. I find that I enjoy getting the finest coins for the assigned grade whether it be a totally undergraded ANACS, ICG, NGC or PCGS slabbed coin.

I even enjoyed picking up two ANACS slabbed MS-70/70 Liberty $5 commem which sadly was slabbed on 9-11-86 when, I believe Rick Montgomery was head grader of ANACS before he joined PCGS ?

Does that mean that PCGS has to grade these MS-70 as well?

Frankly, I don't care because I enjoy these coins for what they are.

dpoole

I did look at your 32-S. I do think it is a true 64. The strike is very typical for the year/mint, as you know. I am partial to that blue toning! I do like your coin a great deal.

I left a question for Tom about the mill mark comment. I'm waiting for an education!

It's good to hear from you, too! I'll see you at the next SA (Slabbites Anonymous) Meeting.

Whitewashqtr

lol.. I thought he was referring to the 2 ticks in the hairline. I havent heard that term used .. "millmark". I take it as the same as a bag mark..but I wouldnt mind the education either.

Someone said to have it "conserved".. but i think I like it the way it is.

oreville

Tom explained over there that he uses that term instead of a reed(ing) mark in which the reeded edge on one quarter hits the surface and causes a reeded looking mark.

His quote:



<< <i>Milling marks are marks resulting from the reeds of one coin hitting and damaging the surface of another coin. They can leave a single sharp edged mark or, more commonly, a series of marks where one central mark is deeper than the rest. I guess it could also be termed reeding marks but I have never embraced that term. >>



I asked the question too as well as I have used the term reeding mark or reeding bagmark but never used the term milling mark.

Coppernicus

I've been reading these "slab vs. coin" threads for a long time and I now feel I must add my two cents worth. Lacking the time and money to travel to very many coin shows, I put my trust in the PCGS grading, realizing that there will always be variations within the grade. I would love to be able to see each coin before I buy but it is just not practical.

I buy based on the grade on the slab and the picture (if available) and I realize I may be disappointed. For example, I bought seven PCGS 1937-P MS67 Lincolns before I got one that was truly beautiful and is, IMHO, a PQ if not a 68. The other six I sold. I have done this with other dates in the early Lincolns.

This takes a lot of time and patience, but the end result will be a truly great collection which is "hand selected" even though none of the coins are raw or examined before purchase. I think that the fact that the coins are slabbed makes it a bit easier that if I were buying raw coins sight unseen or based on a fuzzy picture.

Just some of my thoughts on the issue...

Coppernicus

CarlWohlforth

I'm with you Coppernicus. I don't get to many shows so could only buy 1 or 2 coins a year if I could only buy sight seen coins. It would be awesome if there was 1 show a week, or at leat one a month. In the mean time I only buy certified coins with scans and return policies.

Whitewashqtr

Coppernicus and Carl:

I do the same thing. Not many shows I have tiime to go to. BUT.. I have returned many coins that are slabbed. Some look beat up and cant see from the scan.. I dont return as many now for 2 reasons 1) I ask many more questions and even get the sellers to send me the scan directly and 2) if I dont like, I usually get my money back by selling it.

I always ask the return policy and most times there is no need to return anything anymore. Unless its not as advertised.

But the point I am making is not raw vs. holder. Its the fact that I have to love the coin in whatever holder it is in. I dont buy too many raw coins as a matter of fact, maybe 1% of my purchases are raw. So Im with you on that!

michael

for me i always use the trem reeding marks and from waht i have seen from many dealers advertising coins they mostly use the term reeding marks also if someone used the term milling marks i would not have understood that term but after reading these posts on this thread i do now! that is why i like these boards there is always something to learn even with all the narishkitical people on here!!

sincerely michael

michael

i think the market is maturing to the point where it is becoming a raw market and it is the coin that sells

now of course having the coin in an ngc/pcgs slab, a nice bonus!! where most have a starting point and are able to look at a coin and determine if it is nice in trems of eye appeal for the assigned grade another bonus point and then see if the coin has a look of a higher grade or looks better than most coins of even a higher point grade! then it is a bonus bonus coin and a coin to buy with a reason to rise in value as usually coins like this are priced at the level at which the assigned grade now a coin worth more outside the holder then in the holder that is already in a holder that is the coin to buy!!

sincerely michael

oreville

Michael: Your comment:



<< <i>i think the market is maturing to the point where it is becoming a raw market and it is the coin that sells............... >>



I agree with that comment and particularly so when you state that having the coin in a pcgs.ngc slab is a nice bonus.....well said.