Does It Make Sense To Slab Coins Worth About $100?

matteproof

Often enough, I put together a group of really nice raw coins for submission, not worth much, but that have something "special" about them. These coins might be low grade key dates (1932-D Washingtons in Fine, 1914-D Lincoln Cents in VG, etc) while others are common dates but gorgeous (nicely toned UNC Mercury Dimes, Washington Quarters, Monster Toned Morgans, etc).

However, all of these coins are really only worth about $100-$200 tops. I usually buy these coins raw at "coin shows" just because I like the look of the coin or because I feel sorry for, and want to throw some business, to some of the "old timer" dealers that often sell raw lower grade coins. Then the problem becomes; "what do I do with these coins that have no place in my numismatic strategy?" So, the question becomes, is it "worth it" to send them to PCGS at $15-$30 bucks a pop, plus the cost of registered insured shipping both ways? Or, for coins like these is it just better to keep them raw (collecting dust and never to be looked at again).

I always wrestle with this topic because every time that I put together a PCGS submission package, fill out all of the forms, insert each coin into the flips, label/number the flips, and then ----- I do the math and realize it's not worth it to send it in! (it's a lot of work to submit coins for slabbing isn't it?). Sometimes, I send it in anyway. Sometimes, the submission forms along with the coins sit forgotten for months on end. What say ye? Is it worth it to slab such coins or not? Thanks in advance. matteproof

ziggy29

Depends.

If you think a coin is a solid 65 worth $100 when a 64 is worth $30, then yes, perhaps so.

If you think a coin is a solid 65 worth $100 when a 64 is worth $80...probably not.

longtimecollector

Here's where , IMO, ANACS would be the logical choice........ Especially if you're talking "circs" or "MS" without a huge jump in $ for 1 extra point.

skier07

Depends what you are going to do with the coin. If you plan on keeping the coin why spend the money to
slab it. What difference does it make if it's slabbed or raw? If you plan on selling the coin than slabbing
it might make sense if you will get back your slabbing fees by getting more money selling it.l

I have never sent a coin in for slabbing. I at least right now have no intention of ever selling any of my coins and will more than likely give them to my son. I don't see the reason to spend hundreds or thousands of
dollars to get them slabbed. On the other hand 90% of coins I buy are slabbed because I am buying on ebay
or other auctions.

Bruce

dorkkarl

not no, but HE11 NO!

K S

mirabela

I'd echo the ANACS comment -- they're cheap, speedy, and give personal service. Fifteen bucks to sell your coin for $100-200 if the next grade down goes for a lot less seems reasonable.

There's something here to consider, though -- what is the break point above which one doesn't buy a coin raw? I think it is rightfully in this range we're talking about. You won't get a fair price reselling the coin raw, and the slabbing fee is enough to wipe out any margin on a coin like this -- therefore it is in your interest to let somebody else pay it first. There are exceptions of course, lots of them -- but I think they mostly have to do with recognizing where the raw coin has been undergraded. I've done well doing that a few times.

dorkkarl

spending 15 bucks on a $100 coin? you gotta be kidding!!! he11, that's your whole sales margin gone up in plastic smoke if your a dealer!

HERE'S a perfect example of slabing gone totally stupid - & it's not even worth the asking price, much less $100.

K S

RYK

I have used "free" submission with my collectors club memberships to slab coins that were meaningful to me, but not especially valuable.

My 1853 seated quarter NGC VF-30, 1878-CC $1 PCGS VF-35, and 1801 "3 errors" large cent PCGS AG-3 come to mind.

bigtonydallas

If I was collecting with the intent of giving them to my offspring, I would slab them for two reasons. My offspring will be able to get a better price and the fees are cheaper right now than in the future. So todays $15-30 fee maybe $30-50 or higher in the future!

JrGMan2004

If you are reselling, and it'll get more of a profit on sale to be worth it, go for it... key dates and attravtively toned coins are generally better off slabbed if you're selling, it gives the guarentee of authenticity, or at least money backing it up if it goes wrong If you're just buying up cheapie raw stuff, why not give it to YNs? The promoter of the Lakeland Collect-O-Rama and the Baltimore Coin and Currency Show always has a "Free Handful of Money" for the YNs. Good project to start up with your local coin club, or a local show. I guarentee you that dateless buffalos and circ wheaties will make a young YNs day

Theop

The CoinWorld Premium holders are the same size as PCGS slabs. They would let you store your raw coins with your slabs in boxes.

BigAl

If you plan on selling (especially over the internet), yes. Particularly circ keys and semi-keys.

I would recommend submitting to Pcgs, not Anacs, to realize full sale potential. The difference in economy service is only $4-$6 per coin depending on # of coins submitted, and the difference in sale price should justify the few extra bucks spent.

Barry

No. Sell them raw to a dealer at a show.

ARCO

It depends I guess. For Unc. coins many collectors prefer a slabbed coin to assure them they aren't getting a slider, especially with an internet transaction and an internet pic that can easily hide the slight rub.

For circulated coins that aren't normally counterfeited I would never slab a coin in the $100-$200 range. Most collectors know their stuff and a nice scan and customer friendly return privileges will usually get the coin to sell at its top dollar anyway.

Unc. and heavily counterfeited coins that where the cost is approaching $200.00 it might be wise to holder them, But you will probably eat any profit and some time in the process. for coins less than say $150.00, it serves the grading companies, and the future buyer of the the coin, but it will not serve you much to holder the coin.

My range is about the $400.00-$500.00 price on up, and only then if the coin is XF or higher grade.

Tyler

mr1931S

My opinion is that it makes no sense whatsoever to third-party-slab those low grade, low dollar coins. The Coin World holder is a nice alternative for the do-it-yourselfer if you must have that coin in a slab. They can be purchased for under $2 each, are archival quality and fit nicely in the Eagle album page made for TPG slabs.

matteproof

Thank you all for your excellent suggestions. They are terrific. I have submitted lots of coins to Anacs over the years and they have at times been a much quicker turnaround than PCGS. However, there is no doubt that in my experience the PCGS coins sell quicker and for more. I HATE filling out submission forms (write down the coin on the form, lookup and then write down the coin number on the form, then write the damned submission form number on each of the flips and then insert the coin, blah blah blah).

The "Coin World" self-slab suggestion is a nice alternative, but when selling, it is the same as being "raw." And flips take up much less space when NOT selling. Dorkkarl makes a lot of sense about the "cost" of certification along with the back/forth shipping on inexpensive coins. It sometimes seems like a lesson in futility. Yet, how do you sell such a coin raw when the whole world of buyers (myself included) wants the slab?

In reality, it would probably behoove me to simply stop buying such coins as they have absolutely NOTHING to do with my real numismatic interests. Yet, I simply cannot walk up to a dealer's table at a coin show, look at many coins, and NOT buy something. It's just not part of my personal etiquitte. I melt when I see some "old timer" selling all of those low grade raw coins at a coin show (you know the nice old timer who sits behind the table and talks endlessly about the old days when Bust Dollars were fifty bucks a piece in Unc). So I wind up buying a piece here and a piece there (cheap stuff, raw, nothing special) and before you know it, over many years, an accumulation of this low grade stuff or unimportant date stuff (totally meaningless to my collection) becomes a reality to sell. So, I very much appreciate the good suggestions that you all provided. Thanks again! matteproof

mr1931S

"The "Coin World" self-slab suggestion is a nice alternative, but when selling, it is the same as being "raw." And flips take up much less space when NOT selling. Dorkkarl makes a lot of sense about the "cost" of certification along with the back/forth shipping on inexpensive coins. It sometimes seems like a lesson in futility. Yet, how do you sell such a coin raw when the whole world of buyers (myself included) wants the slab?"

Grade the coin. Put coin in the Coin World slab. Place a tamper evident seal on the slab. You can have these custom made or you can "do-it-yourself." Sell the coin based on your many years of experience in grading coins, ANA and PCGS grading standards.
New owner can easily remove the coin from its holder but must break the tamper evident seal to do so. Coin comes back to you for whatever reason? Buy it back if still in its original holder as you sold it.

One coin, and there are others, that comes to mind where this might not work very well is to sell a "raw" 1909 S V.D.B cent in the sealed CW holder. No matter how assured you might be that the S V.D.B. is authentic, the new owner would not be able to inspect the edge or third side without breaking the tamper evident seal to get the coin out.

PCGS slabbing an extremely fine 1883 IHC? Unless the coin is an unusual variety, mint error, etc. with a price that justifies the cost of TPG service slabbing its a waste of time and money for the "raw" owner. People need to learn how to grade coins. Authentification is another matter.

I have a 1914 D lincoln in a CW "slab." Its real. Why should I pay PCGS to tell me what I already know?

morgannut2

If you're doing a registry set of Morgans in say MS-63/64, then you kind of have to get some lower value coins graded if you come across something that's nice but sold raw.