Pro PCGS dealers need to broaden perspective
nugget369
Posts: 56
Not too long ago I went to a local dealer down south to take a look at some 66 Saints. I sat down with the idea of potentially buying only PCGS material, after all this point had been hammered home by a good number of other dealers in the Southern California area. "You've got to buy PCGS", "Only buy PCGS coins", "You have to go with PCGS". What! Is this so I can get an extra 25 bucks when I sell the coin? So I sat down at the counter and the dealer brought out a velvet tray containing ten
66 Saints. Eight were PCGS and the other two were NGC. As I viewed the coins there was a slight problem developing. My eyes were repeatedly drawn to one coin on the right which exhibited very sharp detail, and radiant luster. It was clearly the cream of the crop. The problem however was that it was one of the NGC coins. A problem I guess if a relative novice like I was at that time becomes brainwashed by nonsence.
I passed on that coin, but I have since purchased a spectacular 67 which also happens to be in an NGC holder and all my future purchases will be predicated on the individual merit of a particular coin, not who graded it.
66 Saints. Eight were PCGS and the other two were NGC. As I viewed the coins there was a slight problem developing. My eyes were repeatedly drawn to one coin on the right which exhibited very sharp detail, and radiant luster. It was clearly the cream of the crop. The problem however was that it was one of the NGC coins. A problem I guess if a relative novice like I was at that time becomes brainwashed by nonsence.
I passed on that coin, but I have since purchased a spectacular 67 which also happens to be in an NGC holder and all my future purchases will be predicated on the individual merit of a particular coin, not who graded it.
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<< <i>Not too long ago I went to a local dealer down south to take a look at some 66 Saints. I sat down with the idea of potentially buying only PCGS material, after all this point had been hammered home by a good number of other dealers in the Southern California area. "You've got to buy PCGS", "Only buy PCGS coins", "You have to go with PCGS". What! Is this so I can get an extra 25 bucks when I sell the coin? So I sat down at the counter and the dealer brought out a velvet tray containing ten
66 Saints. Eight were PCGS and the other two were NGC. As I viewed the coins there was a slight problem developing. My eyes were repeatedly drawn to one coin on the right which exhibited very sharp detail, and radiant luster. It was clearly the cream of the crop. The problem however was that it was one of the NGC coins. A problem I guess if a relative novice like I was at that time becomes brainwashed by nonsence.
I passed on that coin, but I have since purchased a spectacular 67 which also happens to be in an NGC holder and all my future purchases will be predicated on the individual merit of a particular coin, not who graded it. >>
Sounds like the best plan I have heard around here recently.
Best of luck,
John Butler
Sahara Coins
&
Vintage Paper Memories
You mean you looked at the coin?
It sounds like that as a collector you have broadened your perspective. That's a good thing.
What nonsense. Buy the holder, not the coin. It's the only way you can play the pcgs registry set game.
You brought up some good counter points to my initial post here. Certainly I can not disagree with your statement that dealers claimed "I would buy it if it were in a PCGS holder " or "I would offer you more if it were in a PCGS holder" I already know this and that's ok with me. I failed to mention this before but my modus operani is that of a quality collector not an investor. I just want to enjoy the coins I obtain and for me that means coins which possess opulance and stunning eye appeal.
As far as the Pro PCGS dealers are concerned , I am sure that some of them have good intentions for their clients but too many of these dealers look down upon NGC coins. In fact one dealer located in Inglewood Ca speaks of NGC coins like the Plague.
And Baseball you are correct, I am somewhat of a "Newbie", less than a year in actual fact but in that time span I've learned a great deal. Not enough to be concidered an expert grader but I know
nice coins when I see them.
As far as series where ngc is tighter, I couldn't say. A couple/few years ago I would have picked more than one series, but I think they don't exist so much anymore.
pro-certified dealers need to broaden perspective?
in fact, i would propose to you that someone who is only capable of selling cert'd coins is a coin broker. a coin dealer adds value to your dollar by being capable of offering his own opinion on a coin.
K S
Actually everybody should tell you buy only PCGS OR NGC
My posts viewed
since 8/1/6
K S
Solution? Well, whether they like it or not, EVERYBODY who pays above face for a coin is an investor. ANYBODY who buys coins is a collector. There's no Group I and Group II. SO, were I asked, I'd advise: Don't buy coins unless you have some appreciation of the art and history, as well as an ability to get excited about owning a truly beautiful coin. And don't view ANY slab as more than an OPINION, that adds value as such. As givers-of-OPINION, the current top two grading services seem to do an adequate job, as well as to make their share of mistakes. Hopefully, the services that ultimately REPLACE them will, also...
Please keep it up. I need the crossover money.
BWAHAHAHAHAHA!!!
Wow....wisdom.
Welcome!
snake
He may have done the right thing even if he did care about recouping maximum value. It depends on when he plans to sell. If he's in it for the long haul, then it behooves him to buy the best quality material that fits his budget. Over the long haul, one cannot predict the behavior of the slabbing industry. What is today may not be tomorrow, but a nice coin is a nice coin.
Suppose in 10 years, HRH gets burnt out and retires and moves to Samoa to enjoy the tranquil life. Suppose his successor turns out to be a big mistake and ruins PCGS. The slabbing industry will have been changed dramatically.
I would buy it if it were in a PCGS holder
I think it depends on the coin as well as the dealer. For many series, there is a market premium due to the holder. But, this mostly applies to bulk material that can be found in overwhelming quantity in any holder or even raw. If you were looking for a nice '78-S Morgan in MS65, then it isn't any real hardship to factor the holder into the search criteria. But, if you were looking for an 1802 half dime, then you better not care about the holder -- the first you see that you like, grab it!
Alternatively, it could very well be that your dealer is just looking to take advantage of *your* predisposition to a PCGS holder premium...
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
I find myself in the unusual position of understanding and agreeing with Karl.
I don't need no stinkin' dealer/broker to tell me about slabs and the market value they impart on coins. What I want is a dealer who can tell me which coin is nice, special, befits my budget, etc. -- be they holdered or raw.
There have been several "big name" collections auctioned off recently where the coins themselves were mere product coins, but the holders made them seem much more valuable. The Hering collection of ED's (Heritage FUN, 1/02) was a large volume of material, but contained very few coins for the discriminating collector. (He bought a huge amount of stuff sight-unseen simply because they were holdered.) Any dealer who can't help me build a discriminating collection is not a dealer whose opinion I value much.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com