Opinions on article by David Hall?

Aethelred

"THE NUMISMATIC FACTS OF LIFE"

Be sure you read all five pages!

DennisH

Good stuff!

A lot of it is "Well, duh!", but he makes many excellent points.

Coconut

I wonder if he grades his own coins?

Barry

Fact: That's one of the most self-serving pieces I've read in a long time.

Aethelred

<< <i>Fact: That's one of the most self-serving pieces I've read in a long time. >>



Thank you Barry, I was wondering if I was the only one who thought so! I have a great deal of respect for David Hall and there is some very good advice in that article, but the "Any coin not in a PCGS holder is worthless" notion is simply wrong IMO.

Myqqy

I was fine till he got to rule number 6- at which point I felt like I was talking to a salesman. I believe there is some basis to some of the points regarding problem coins and many coins not crossing over, but to say that you should never buy anything but slabs and pcgs slabs is asinine- no matter how much you believe in the party line and the supremacy of pcgs in the prices realized category.

coinkat

Interesting reading... with some insight. I tend to agree with his comments about rarity, however, I think some coins can be bought at great prices if you look. There are bargains if you look... and what may not seem like a bargain today will become one over time if quality is considered.

ElectricEye

<< <i>I am defining failure as losing money and not having fun. >>



Would it be failure if you lost money yet had fun?

Lakesammman

Was this DHall or the new owner??

ElectricEye

<< <i>Fact: That's one of the most self-serving pieces I've read in a long time. >>



Numismatic Fact of Life Number Five:
DEALERS ALWAYS ACT IN THEIR OWN SELF-INTEREST

I think he already indicated this fact.

RotatedRainbows

Some of the stuff in there is laughable (especially toward the end), he obviously is targeting the uneducated newbie hoping to get them into a pattern of buying what they are told to buy instead of what they really like. Its unfortunate that some people see this just as a business and try to make as much money as they can instead of a recreational activity where people are supposed to enjoy themselves and their own personal interests. Learning about the coins you purchase and why they are like they are is half of the fun, if/when I sell I get all or most of my money back I will be thrilled. Just think of all the other hobbies/activities you do or other people you know do that in the end never returns one penny (including your initial investment) whether it be traveling,raising/riding horses, recreational car racing or whatever, they all cost good money but do not return monetary rewards. All are hobbies meant to enhance your life and I count coins right along side them, without a doubt when someone attaches to much investor mind set into coins they do not enjoy the experience as much and that is very clear by the way they whine and complain when coins are not graded to the value they expect.

Stuart

PCGS graded coins are usually a "safe" purchase, but there are also some excellent coins for the discerning collector in other TPGS slabs.
If you limit your purchases to any single grading company coins, you are eliminating the possibility of purchasing alot of nice coins.

It is true, however, that if you are purchasing relatively expensive coins (over $1000), it is best to purchase coins from one of the top grading services that offer grading guarantees to help protect your coin investment.

Russ

<< <i>Fact: You can't beat the dealer. >>





Russ, NCNE

Clankeye

<< <i>A dealer is not going to sell you a coin at “under market”, you're not going to “pick him off” >>



A lot of dealers won't know your series as well as you might. This can lead to "opportunities."

Perhaps not what someone new to the hobby needs to hear--but true nonetheless.

Clankeye

LincolnCentMan

That was probably the best artical I've read in the last two years. There were many valid points in it. The only place I would differ is that I would not limit myself to only PCGS. I would, however, agree that it would be best to stay with only PCGS if you dont have a FIRM grasp of how to grade what you're collecting/investning.

Although, there were some areas of "self-serve," as some of the guys here have pointed out, I'm sure everyone would agree that in most cases, PCGS coins are going to realize more than NGC ones.

I know that in my own collection, I try to get the best stuff in PCGS. Sure, I have made a few exceptions. But the exceptions I have made have been for truely great coins.

All-in-all, I feel it was a extreamly good read, and definatly worth my time. Thanks for pointing it out.

David

ms70

The section where he spelled out the date & percentage cycles of the coin market was interesting.

bushmaster8

He is wrong on three points:

There ARE bargains in numismatics .

You can "pick off" a dealer.

You can make tons of money buying raw coins.

David Hall (Blessed Be His Name) is assuming that we are all dummies. How insulting!

If you are knowledgeable and know how to grade, don't waste your time reading this kindergarten crap.

Boom

Excuse me, but didn't someone just make a PCGS 65 1932-D Washington Quarter found

amongst other raw coins in a box that a dealer had? This disproves 2 of these "Dont's!"

koynekwest

Please! Since Mr Hall disdains varieties in general (see some of his earlier books) I'm not surprised that he's completely overlooked this segment of the hobby. Ask ANY seasoned cherrypicker if there's no opportunities to outdo most dealers. I've been doing it consistently for 15 years and occasionally for 30 years before that. And not only varieties-many dealers do not know how to grade. I've "condition 'picked" a lot of stuff. Maybe I could mention the Matte and Satin proof buffalos I've purchased as business strikes?

mgoodm3

Good reading, in general. a bit biased toward PCGS, but what would you expect.