The "R" word. Would you buy a raw coin over $1k?

ohbaby

I know alot of people still buy raw but most of the time I see them buying low end coins. If a coin was worth over a grand and was raw would you trust yourself [not your buddy, dealer, spouse, Mark Feld, etc.] to make that kind of purchase. Keep in mind you have to determine authenticity, grade, appeal.

I have friends who tell me sure in a heart beat but these same guys and one gal run to each other to get an opinion when even buying slabs from PCGS or NGC!! I will admit I cannot grade for squat and relie on the professional 3rd party graders for guidance.

Separately, who does Stacks auction so much raw material? I think I know why but prefer to hear other opinions.

Lastly, why in this day and age are some dealers still selling high end raw coins? I can think of only one reasons and it does not favor the collector/buyer and I avoid those dealers even if they have the coins I want.

lordmarcovan

For non-US coins, particularly ancients, slabs aren't as big a deal. I still prefer them when possible.

My answer to your question is "mostly no", but with some exceptions.

I would cheerfully pay $1K+ for a gilt proof British "Cartwheel" twopence, and those are too thick to fit into any company's slabs.

Wondo

No way, Jose. I am good at some things, but I need help in the authentication/grading of coins.

JoyofCollecting

Yes.....but only in a series that I am familiar with and know how to grade.

barberlover

I used to, and did pretty well at having them submitted to pcgs, but i wouldn't do it anymore because on expensive coins i want the gaurantee of authenticity of a pcgs slab. Les

byergo

As cheap as slabbing is it would be pure stupidity to buy something over $1,000 raw (unless you know with 100% certainty you can grade as good or better than a PCGS grader). Why take the unecessary chance?

jonesy

I've paid $580.00 and $355.00 for raw coins. Sent both to PCGS. A 1918D Buffalo for $580.00 on Ebay. A 1914D Buffalo for $355.00 from Bowers. The 1918S came back in a Body Bag. The 1914D came back MS64. I bought the 1918S from a real gentleman with the user name of Rholder. I told him of my intentions of sending it to PCGS. To me the coin was MS64 easy. The only thing taht bothered me was the color. I told him this fact. He told me if it didn't grade at least MS63 that I could return it. Randy accepted the body bag and graciously returned the money. There are still good guys out there.
Glenn

cacheman

All the time, but only with World coins!

rainbowroosie

Yes

Julian

OB
Lastly, why in this day and age are some dealers still selling high end raw coins? I can think of only one reasons and it does not favor the collector/buyer and I avoid those dealers even if they have the coins I want.

I still sell lots of raw coins. I am offering one now for $195K. I have been evaluating coins for 38 years, professionally, and feel that my opinion is as valid as other professional opinions. For the most part, there are no equal coins, one is almost always nicer. I stand behind the material that I sell. I offer lifetime guarantee on authenticity and full satisfaction on all sales. Items may be returned for any reason, for two weeks. I also will allow someone a longer time, if it is possible. There are other professionals that offer similar terms and guarantees.

If collectors want to only collect encapsulated coins, I do not have any problem with that, but I will be unable to offer as many coins, as my colleagues. I do not submit coins for encapsulation.

You may have thoughts about why dealers can sell raw coins, but all coins were raw once.

Collectors, many very serious, do purchase unencapsulated coins. They do have to have confidence in their ability, or have confidence in the seller.

I hope that you would examine all coins that fit into your collection.

jdimmick

I just did last month at our local show. I saw a 1877 Indian Head cent dealer had graded XF+. The coin was simply awsome with nice original surfaces with a good strike. Looked AU-50 or better to me. I studied the coin very close and decided to buy it. It was priced at 1350.00. So I took a shot and sent it to PCGS for my personal collection, not for re-sale.

Just got notice today it was holdered as an AU-50

Boy Am I happy?

When I get the coin back, I will post a photo

PCGS Submission #3034654

darktone

I buy almost all my coins raw and I am not afraid to take the risk. I do lose once in a while but I do find it more exciting to do it this way and a good way to improve your grading skills because if you grade it wrong you lose your money! But if you don't trust your grading it would be foolish to buy raw. mike

Lakesammman

Bought a great looking variety on ebay for $2500....still believe in the coin after 3 body bags.....and so does at least one dealer that has made me a very attractive offer for the coin!

relayer

No, I prefer to lose money only on raw coins under $1k

BillJones

I've spent over $1,000 on a raw coin many times, but not lately. I have done it fairly recently for tokens and medals, however, because the services don't slab medals and they slab (grade) tokens very poorly.

coinkat

yes

Baley

If I was reasonably sure it was worth the price, why not?

JLW

Only if from a reputable established dealer and even then not likely. (If I bought $1k+ coins, which I don't!)
Joe

zenny

yup, especially from Julian!

z

dragon

<<<As cheap as slabbing is it would be pure stupidity to buy something over $1,000 raw (unless you know with 100% certainty you can grade as good or better than a PCGS grader). Why take the unecessary chance? >>>

byergo, It's only taking a chance and pure stupidity when you have no clue what you're looking at. I think it's kinda silly that people rely on the various grading services as their 'crutch'. This is especially relevant considering the huge variation in quality of coins within the same numeric grade holder, and the fact that coins get upgraded and downgraded by PCGS and NGC every day of the week.

dragon

cosmicdebris

Yep I bought a 1995 W ASE raw for $1200.00 sold it 3 months later for $2000.00.

Singapore

I would, and I have, purchased raw coins for very large money.

I believe I am more knowledgeable and a better grader of coins in my specialty than any of the services, and that therefore to rely on their grades is actually more risky than it is safe.

Also, when I do buy raw it is generally a coin well pedigreed and traceable back to a known collection of the past, and therefore 'verfiable' by any potential future buyer as genuine, and approipriately graded.

topstuf

Sure I buy raw. Have got most of my bargains that way. Many dealers undergrade just to be safe. If the COIN is right, who cares if it is already in a slab or about to be?

Slabbed OR raw, if you don't KNOW what you are buying, you shouldn't be buying $1000 coins.

Too many slab mistakes to go on blind faith.

MacCoin

sure I buy a lot of raw coins just not off the internet. Some I'll submit for a registy set. The others are raw and will never leave my collection. most of my coins are raw. I only have about 65 slabbed coins and they are all PCGS. That doesn't mean I only buy PCGS that is all I have right now. I just sold a nice ICG MS66 Jeff to have the $$$ for a raw BU V nickel.
I did submit it to PCGS hoping to get a MS63 or better.