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Interesting observation trying to trade ANACS slabs.

loansharkloanshark Posts: 286
in U.S. Coin Forum
While at the Pasadena Coin Show today I had 3 ANACS slabbed semi-key Morgans I wanted to upgrade. Every dealer I showed them to wanted to discount them by up to 30% of Greysheet just because of the slab they were in.

I don't remember getting that discount when I purchased the coins.

Lesson learned: ONLY buy PCGS or NGC slabbed coins if you are thing about someday trading up or selling.

Loan Shark

Comments

  • Wolf359Wolf359 Posts: 7,656 ✭✭✭
    Been that way for years. ANACS gets a bum rap. Many of those coins are just as good as PCGS and cross easily. The dogs, though, stay in ANACS holders which is why they're discounted.
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  • SequiturSequitur Posts: 1,195
    I hate hearing that. But appreciate the information.
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  • DHeathDHeath Posts: 8,472 ✭✭✭
    Loan Shark, you weren't paying attention. Buy them in ANACS slabs, spend $30 crossing them, and then sell them to the dealers who will beat you up for new more creative reasons. image
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • NewmismatistNewmismatist Posts: 1,802 ✭✭


    << <i>Lesson learned: ONLY buy PCGS or NGC slabbed coins if you are thing about someday trading up or selling.

    Loan Shark >>



    Better lesson: Buy the coin, not the slab.

    There's some dogs in all TPGS slabs - best to buy the coins that are PQ for the assigned grade.
    Collecting eye-appealing Proof and MS Indian Head Cents, 1858 Flying Eagle and IHC patterns and beautiful toned coins.

    “It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” Mark Twain
    Newmismatist
  • mr3holesinonemr3holesinone Posts: 444
    I agree with Wolf. There are a lot ANACS slabbed coins that would cross to NGC or PCGS. I think it's important to look at each and every coin on its own merits and not the holder's.
    Holes-in-One
    1. 7-17-81 Warrenton GC Driver 310 yards 7th Hole (Par 4)
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    4. 9-19-99 Country Lake GC 6 iron 164 yards 15th Hole
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    Collector of Barber Halves, Commems, MS64FBL Frankies, Full Step Jeffersons & Mint state Washington Quarters
  • TUMUSSTUMUSS Posts: 2,207 ✭
    SHHHHhhhhh...ANACS morgans is one of the best values out there. (sight seen of course) Most either cross or even upgrade.
  • GATGAT Posts: 3,146 ✭
    If you have had PCGS or NGC slabs the same dealers would have told you the coins were overgraded and offered you 30% less. I place coin dealers in the same category as car salesmen and attorneys, not to be trusted!
    USAF vet 1951-59
  • greghansengreghansen Posts: 4,301 ✭✭✭
    I place coin dealers in the same category as ... attorneys, not to be trusted!

    image

    Easy with the generalizations please...some of us are sensative!image

    With regard to the semi-key Morgans, you didn't indicate their grades. If they are circulated grades and the grades are correct, the 30% discount is not warranted just because of the slab IMO. If they are semi-keys, properly graded, lets have a look see and maybe we can upgrade them for you in the BST thread.

    Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum

  • UncleJoeUncleJoe Posts: 2,536 ✭✭✭
    Lesson learned: ONLY buy PCGS or NGC slabbed coins if you are thing about someday trading up or selling.

    I will go one step further. If you are purchasing slabs to resell in those slabs, I have found that you will be much better off purchasing a PCGS slab than any other including NGC.

    Joe.
  • Dukie101Dukie101 Posts: 1,313 ✭
    While at the Pasadena Coin Show today I had 3 ANACS slabbed semi-key Morgans I wanted to upgrade. Every dealer I showed them to wanted to discount them by up to 30% of Greysheet just because of the slab they were in.

    And if you try to buy an ANACS semi-key from the same dealer he marks it up 30%!!!! Nothing wrong with the ANACS slab, just the dealer. I don't try to sell to dealers----I'll try to trade with a dealer, if it's a trade and not a give away. I've learned you can't deal with every dealer. I donate to charity not to dealers.
    Larry
  • LanLordLanLord Posts: 11,714 ✭✭✭✭✭
    If a dealer is quoting you 30% discounts just because of the ANACS slab, does that mean he/she is willing to accept 30% off of everything ANACS in their inventory?

    Might be a fun experiment?
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Actually a coin dealer is smoeone who can follow you in a revolving door and come out ahead of you.
    theknowitalltroll;
  • ksteelheaderksteelheader Posts: 11,777 ✭


    << <i>Actually a coin dealer is smoeone who can follow you in a revolving door and come out ahead of you. >>

    And, in the meantime, try to sell you coins for multiples of $10,000 and even tell you how great the market is. Boy, is it going to hurt like hell when the door stops!!image
  • TUMUSSTUMUSS Posts: 2,207 ✭


    << <i> Boy, is it going to hurt like hell when the door stops!!image >>



    So True!image
  • kieferscoinskieferscoins Posts: 10,017 ✭


    << <i>I don't remember getting that discount when I purchased the coins. >>



    Buying and selling are tw different things. Just like with everything, many times you can't sell them for the same price you buy them for.

    Cameron Kiefer

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