A coward is a person who either shirks his or her duty out of fear or a person who does not have the courage to take a prudent risk. There would be nothing prudent about taking properly graded coins out of their holders and sending them to the grading services. While one might get some “gifts” from the services, one also has to remember the unwarranted body bags, grading service mistakes, the misattribution of “naked eye” varieties and fingerprints.
Years ago I wrote a letter to the editor of a numismatic publication in which I asked, “Why should I pay the grading services good money to have them tell me what I already know?” That question is still valid. The only thing that has changed is that slabs have become a powerful marketing tool that is of great use when one is looking to sell their coins. Beyond that the quality of service leaves much to be desired.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
A coward is a person who...does not have the courage to take a prudent risk.
Exactly! Would it not be prudent to accept payment equal to 100% of the value of your collection in exchange for risking some downgrades? Of course it would be prudent. OK, then, how about 90%? 80%? 50%? 30%? How low can you go and still have it be a prudent risk?
Yes, I know that you said you got some 25 point windfalls. You risk losing them, and others. You may also get some upgrades. Can you average them out and come up with a number?
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Going to the dentist, flying on airliners with coins, buying cemetery plots, paying for funerals and getting the coins in my collection slabbed are what I would term as “unwanted goods.” After a coin is slabbed you can’t examine the edge, the coin takes up more room in the safe deposit box, you can’t brush off the grime that forms on copper coins and you can’t take pictures of them as well. Added to that you have the risk of shipping the coins to and from the slabbers (Remember the problems NGC had in New Jersey?), fingerprints, the aggravation and expense of sending coins back because they have been misattributed (Yes it’s really “tough” to tell the difference between a plain edge and lettered edge. THAT shows how much pride some of these people take in their work!) to say nothing about undergraded pieces and unwarranted body bags all make the slabbing experience less than fun.
You’ve twisted my arm, so here’s my price: 200% of the value of my collection. Take it or leave. For that amount I could get the coins slabbed or buy certified replacements and add the type coins that I would love to have in my collection. For that I would purchase some more “unwanted goods.”
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Getting a PCGS logo tattooed on my ass is a dumb thing to do, but I would still do it for the right price. (David, my price is $25,000!)
Likewise, breaking my (hypothetical) 100K collection out of its holders might also be dumb - Sorry, Karl - but I'm willing to do it for the right price. The price is 7%, or $7000. Does that make me dumb?
I'm sorry that so many of you have been offended by this thread. I did not really mean to imply in the least that you are COWARDS, COWARDS, COWARDS!!!
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Comments
Years ago I wrote a letter to the editor of a numismatic publication in which I asked, “Why should I pay the grading services good money to have them tell me what I already know?” That question is still valid. The only thing that has changed is that slabs have become a powerful marketing tool that is of great use when one is looking to sell their coins. Beyond that the quality of service leaves much to be desired.
<< <i>Certification is not all that some people think that it is cracked up to be. >>
where's russ's picture of the cracked slabs when you need it!
K S
Exactly! Would it not be prudent to accept payment equal to 100% of the value of your collection in exchange for risking some downgrades? Of course it would be prudent. OK, then, how about 90%? 80%? 50%? 30%? How low can you go and still have it be a prudent risk?
Yes, I know that you said you got some 25 point windfalls. You risk losing them, and others. You may also get some upgrades. Can you average them out and come up with a number?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
You’ve twisted my arm, so here’s my price: 200% of the value of my collection. Take it or leave. For that amount I could get the coins slabbed or buy certified replacements and add the type coins that I would love to have in my collection. For that I would purchase some more “unwanted goods.”
Getting a PCGS logo tattooed on my ass is a dumb thing to do, but I would still do it for the right price. (David, my price is $25,000!)
Likewise, breaking my (hypothetical) 100K collection out of its holders might also be dumb - Sorry, Karl - but I'm willing to do it for the right price. The price is 7%, or $7000. Does that make me dumb?
I'm sorry that so many of you have been offended by this thread. I did not really mean to imply in the least that you are COWARDS, COWARDS, COWARDS!!!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.