Shouldn't we raise a new generation of slab collectors?

kieferscoins

Shouldn't we? Teach the up and coming YN's and all new collectors about the pros and cons of the slabbing industry. Have better surveys and real examples of the pitfalls of using the lower tier grading companies. And to top it off, teach grading the coins within the slab and not following blindly what the holder says.

How do we start?

Cameron Kiefer

airplanenut

Teach us to be selective... then we will drive out the poor graders as we become the major dealers... if we know how they work, they are very good for us... they are only bad when we are ignorant and uninformed.

KlectorKid

IDK

jom

This is a good thread Cam: Advise all newbies (young and old) to go to as many auction lot viewings as they can. LOOK at as many coins as possible (for free!). And then compare what you "think" it grades to what the holder says. Then, LOOK at more coins until your eyes fall out. Then...go to the doctor. lol

This, I think, will get many off on the right track. After this a few lessons on coin buying (ie pricing). The best way this can be done is go to shows and while LOOKING some more ask prices on coins. Keep a database (or just write it down) on the prices you collect. I'd concentrate on only a FEW series (whichever you like best). You can also do this by following Ebay and see what coins actually bring (as oppose to the dealer quotes). Then compare your prices to the Grey Sheet (or Blue) and Coin World trends. That way you get a good idea what prices are fair.

You don't need to buy a single coin either. The only cost will be show admissions and some price sheets (grey/blue). It's a real cheap education. Don't worry to much about missing out on some buys. No matter what anyone tells you: You can find the coin you like again unless it's exceptionally rare piece....in which case you probably don't want to be spending that kind of dough anyway.

jom

IrishMike

Cameron I know you are partial to PCGS and the reasons why. Still I think we should raise a generation of coin buyers not slab collectors. There is plenty of time in life to learn about slabs, why not learn about coins and grading first. Personally suggesting that new collectors get involved in slab collection, i.e. registries sets, crack outs, etc. is not in my opinion the first few steps. It reminds me of the kid who has to have the moped becuase his buddies do or the young adult who over pays for a car because it is the cool looking model.

cladking

Most of us here know about coins and grading. We may or may not be experts at either
but we have a good grounding in the hobby. Most of the people here are going to buy at
least some slabs for the gaurantee of authenticity and the confidence of grade for higher
priced coins. Some here will refuse to buy slabs at all because they dislike the concept, or
they'll crack them out immediately. These are personal preferences based on our own know-
ledge and prejudices.

Go back and read Fatman's post in that other thread. Anytime we're talking a slab, we're
talking a $20 coin, and usually more. Many newbies collect for many years before spending
$20 for a coin. So we're right back to telling newbies that it will take years of study before
they can buy a coin, that it's too easy to get burned in the hobby if they aren't experts. When someone is collecting indian cents or states quarters in a Whitman folder it is not necessary that they
know much about slabs or premium quality. Why don't we encourage them to buy the best
they can for their money and just see where they go. Maybe they could teach us a thing or two.

kieferscoins

<< <i>Many newbies collect for many years before spending $20 on a coin >>



I think the newbie collectors are changing and the same holds true with slabs. More people are buying Morgan dollars in MS-64 (which is also usually slabbed) and Mercury dimes in MS, Franklin Halves, etc. all of which are easy to collect, yet are getting slabbed also. These collectors buy the coins and the slab without knowing about the companies and their grading habits.

Cameron Kiefer

dorkkarl

the best thing we could do for the next gen. is to teach them to be open-minded. i see it as a negative to raise a gen. of collectors that only know how to collect within the stifling confines of a slabs-only attitude. the complacency that total reliance on plastic causes is a sad, pathetically closed-mindedness that i would not want to inflict on my own children.

young numismatists everywhere, open your minds. slabed coins represents a miniscule aspect of this hobby. most important thing you could ever do as collectors: learn to think for yourself. that makes you a leader, not a follower.

K S

BigD5

Thinking for yourself, and collecting what you like is one thing. Spending over $100 on a raw coin at a show is another, if you are not comfortable with your grading skills.
Cameron,
Most common date ms/64 Morgans that are slabbed, are usually someone's attempt to get that coin in a 65 holder. Most ms/64 Morgans and Merc's are raw, in my opinion.
I think the toughest part of this hobby for a newbie is to find someone trustworthy, that can educate them with the do's and don'ts of collecting.
We should focus on raising a new generation of coin collectors, and explain the positives and negatives of slabbing companies.

dorkkarl

no question, you will get 100 times more benefit from a good "mentor" (so to speak) than you will from plastic.

K S

paigowjohnny

I'm with IrishMike and dorkkarl on this one.

I have a few slabbed coins, and I imagine if the day comes when I want to sell my premium stuff, I may get them slabbed depending on what the market preference is at that time. Who knows...people may hate slabs in 20 years.

If you want to be a Registry Set collector...knock your self out and go hard for slabs. But I just feel that all new collectors...YNs and old farts like me...really would get hemmed in by the "gotta have it in a slab" mentality.

shirohniichan

no question, you will get 100 times more benefit from a good "mentor" (so to speak) than you will from plastic.

Yea, verily.

Learn to grade and the rest will take care of itself. As long as you learn how to spot problems and to grade properly, the slab won't make a bit of difference.

What we need to teach newbies is:

1) buying a coin after seeing a photo on eBay is not "sight seen" trading-- be sure to get a good refund policy;

2) if after all the studying in the world you can't tell the difference between an MS-64 and a 65, never buy an MS-65 if there's a huge price jump;

3) enjoy the coins and don't see them as sure-fire investments;

4) take your time to learn;

5) take claims you see on eBay with a pillar of salt.

EVillageProwler

I think it is a terrible idea to raise a generation of slab collectors. The focus for newbies should be two-fold: on the coin industry (i.e., buying/selling, grading/slabbing, cleaning/conserving, Internet, etc.) and numismatics (eye appeal/originality, rarity, research, etc.).

The slab sub-industry is merely a component of the the entirety of collecting coins. The next generation of collectors should be trained with an eye towards completeness. That we are even discussing the topic like this is incredibly discouraging to me.

Slabs are a tool. It is neither saintly nor evil; it is as useful as we make it. But, it is just a tool for coin collectors. We may choose to use the tool, or we may choose not to use the tool. But, to focus on the tool as a primary object of coin collecting is baffling to me.

EVP

dorkkarl

personally , i doubt numis-plastics will be around for the next generation. i suspect there is a finite limit to the effect slabs (as they're defined right now, ie. the impossible certification of a purely subjective phenomenon - grading) have on the market.

at least i hope so.

K S

paigowjohnny

Amen Prowler !!!

MrKelso

<< <i>personally , i doubt numis-plastics will be around for the next generation. i suspect there is a finite limit to the effect slabs (as they're defined right now, ie. the impossible certification of a purely subjective phenomenon - grading) have on the market.

at least i hope so.

K S >>



As I Hope right along with you my friend.