Why do you send in coins to be slabbed?
IrishMike
Posts: 7,737 ✭✭✭
I posted this strictly for informational purposes, no hidden agendas. Two years ago I became a member of Collector's Society and never availed myself of the free submission coupons. I couldn't come up with a compelling enough reason to have any of my coins slabbed. I joined again this year and will send some in. Here are my reasons for doing so, some of them are quite valuable and I am at the age where I have to consider how easy it will be for my wife or grown children to dispose of them, so slabbing makes sense. Some of the others have wonderful toning and I want them in the new AT holders to help preserve them for future collectors. Thirdly, when I finish my registry collection of proof 36-42 quarters, I will have them all regraded and slabbed. I don't anticipate any upgrades, but a couple might earn a star designation.
I would like to hear the honest opinions of others who have sent in coins or are thinking about it.
I would like to hear the honest opinions of others who have sent in coins or are thinking about it.
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Comments
To be able to include them in my registry sets
So I can sell them at a profit (a 2001 Mint Set is worth $15 until you slab a high end coin from it.)
To get an upgrade of already graded coins
To build my own high end set
To protect the coin in it's present condition
Like you I've thought quite a bit about the fact that somewhere down the road I may leave my coins to my wife and children and would like them to have something to hang on to with a bit of security via appropriate grading and certification.
As for some of the other coins that I've sent in, I like to dabble in selling some of the coins that I run into now and again which, in my opinion, are in better than average condition, so I'll send them in to a reputable company with the hopes of getting an accurate grade and to put them out on the market to see if anyone wants them. I'm not in this to make money, more of an interesting hobby thing. As I tell my wife, it keeps me out of bars at night
Regards,
Frank
It's a good question. For me at least, it has to do with the liquidity and different pricing graded coins enjoy compared with raw. If I already own the coin, and for $15 or so I can get it certified, it makes the coin much more desireable should I ever decide to sell it. I never plan to sell my keepers, but you never know when you'll need to raise a little cash for life's little emergencies. I also like the protection the holder gives me, and the grade guarantee should the appearance go south. Whether coins or real estate, a certified appraisal certainly improves the owners position. I think should any of my family members ever have to liquidate my collection, they certainly would be better prepared. Finally, it keeps my grading skills sharp as I match my opinion against a third party's.
and it sets us apart from practitioners and consultants. Gregor
Russ, NCNE
Second reason is preservation and damage prevention of high priced coins.
Camelot
Camelot
<< <i>A few reasons... To be able to include them in my registry sets So I can sell them at a profit (a 2001 Mint Set is worth $15 until you slab a high end coin from it.) To get an upgrade of already graded coins To build my own high end set To protect the coin in it's present condition >>
And what Russ said...
AND- it's fun anticipating the grade and coin back from the Services!
peacockcoins
And there's no thrill like seeing the just-posted grades and finding out the cheap coin you sent in is a high grade coin worth hundreds - or thousands - of dollars. There's a lot of thrill in the anticipation, and perhaps a lot of letdown after you see the grades too