the program wants to change "MS70" to "MESS"? Now, there's an overgraded coin
michael
Posts: 9,524 ✭✭✭
"Did you know that if you run a spell check, say for example on a tacky little coin newsletter, the program wants to change "MS70" to "MESS"? Now, there's an overgraded coin for you."
I understand the arguments for and against having coins graded by one or any grading service.
anyone selling a collection today should consider this option. As to any specific grades. grades are the opinion of the grading service. a certain coin is submitted and returned in a "body bag" as "cleaned" or some other gradeless moniker, only to be resubmitted unchanged and be graded as perfectly normal at a later date by the same service.
Grades are opinions! They are guideposts to value, nothing more.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Any collector can argue about the evils of coin grading, I fully understand and have heard countless stories, but the market reality is that coins sell easier and for more money once they are slabbed, even if they appear to be "undergraded" in the current slab. Many dealers/collectors make a living by buying certified or raw coins and getting them certified in higher grade holders. Well DUH!
In a perfect coin world there would be no grades, simply prices
. A coin dealer at a show responds to your inquiry at his table "that the slabbed proof70 deep cameo 2004-s lincoln cent is 1000.00." Suddenly, you as a collector know what kind of coin you expect for your $1000. If the coin in question does not meet your expectations, you pass. Perhaps all the collectors pass, and the dealer eventually sells this coin for a loss. If you as a collector don't know what an 1000.00 proof70 deep cameo 2004-s lincoln cent should look like, then I'd suggest you shouldn't be buying coins until you do know.
Many collectors don't know, and the "slab" provides them a security blanket that gives them more confidence to buy a coin at that or any price level. If the dealer ends up selling the coin for a loss, then that's the risk the dealers take.
yes there are "mistakes" in every sort of slab
In many series, there are only a handful of specialists pursuing their own collections, when the number of desired specimens of a certain coin is lower than the number of specialists, then it gets interesting when one comes up for auction. When a few extra specimens are around, the price may be depressed to a nominal level over that of a common example of whatever this thing is. Rarity is more a function of the number of collectors and dealers who are interested in a series than a reflection of some absolute number known.
there is always room for another grading service, lets start,the MS/PR70 grading service. Every coin gets the same grade, guess which one it is? No arguments, no body bags, flat fee for every coin graded. Counterfeits are fine too, we don't discriminate. The only issue is what PRICE do you want to pay for the coin!
You as a collector must develop your own knowledge on grading, surfaces, color, quality, rarity and all the factors that go into deciding on whether or not you want to purchase a certain coin. It always comes down to price. Is that special coin worth the $1000 required to buy it, yes or no. Its that simple, and calling it AU55, XF40, MS70 doesn't really matter. Does the coin grade $1000?
DOES THE COIN GRADE $1000??
buy the coin not the holder
make sure that if you buy a coin and then crackit out that there is still a great market for it close to what you paid
IF NOT THAT IS STILL OKIE
it is your choice
just let the buyer beware
"Did you know that if you run a spell check, say for example on a tacky little coin newsletter, the program wants to change "MS70" to "MESS"? Now, there's an overgraded coin for you."
I understand the arguments for and against having coins graded by one or any grading service.
anyone selling a collection today should consider this option. As to any specific grades. grades are the opinion of the grading service. a certain coin is submitted and returned in a "body bag" as "cleaned" or some other gradeless moniker, only to be resubmitted unchanged and be graded as perfectly normal at a later date by the same service.
Grades are opinions! They are guideposts to value, nothing more.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Any collector can argue about the evils of coin grading, I fully understand and have heard countless stories, but the market reality is that coins sell easier and for more money once they are slabbed, even if they appear to be "undergraded" in the current slab. Many dealers/collectors make a living by buying certified or raw coins and getting them certified in higher grade holders. Well DUH!
In a perfect coin world there would be no grades, simply prices
. A coin dealer at a show responds to your inquiry at his table "that the slabbed proof70 deep cameo 2004-s lincoln cent is 1000.00." Suddenly, you as a collector know what kind of coin you expect for your $1000. If the coin in question does not meet your expectations, you pass. Perhaps all the collectors pass, and the dealer eventually sells this coin for a loss. If you as a collector don't know what an 1000.00 proof70 deep cameo 2004-s lincoln cent should look like, then I'd suggest you shouldn't be buying coins until you do know.
Many collectors don't know, and the "slab" provides them a security blanket that gives them more confidence to buy a coin at that or any price level. If the dealer ends up selling the coin for a loss, then that's the risk the dealers take.
yes there are "mistakes" in every sort of slab
In many series, there are only a handful of specialists pursuing their own collections, when the number of desired specimens of a certain coin is lower than the number of specialists, then it gets interesting when one comes up for auction. When a few extra specimens are around, the price may be depressed to a nominal level over that of a common example of whatever this thing is. Rarity is more a function of the number of collectors and dealers who are interested in a series than a reflection of some absolute number known.
there is always room for another grading service, lets start,the MS/PR70 grading service. Every coin gets the same grade, guess which one it is? No arguments, no body bags, flat fee for every coin graded. Counterfeits are fine too, we don't discriminate. The only issue is what PRICE do you want to pay for the coin!
You as a collector must develop your own knowledge on grading, surfaces, color, quality, rarity and all the factors that go into deciding on whether or not you want to purchase a certain coin. It always comes down to price. Is that special coin worth the $1000 required to buy it, yes or no. Its that simple, and calling it AU55, XF40, MS70 doesn't really matter. Does the coin grade $1000?
DOES THE COIN GRADE $1000??
buy the coin not the holder
make sure that if you buy a coin and then crackit out that there is still a great market for it close to what you paid
IF NOT THAT IS STILL OKIE
it is your choice
just let the buyer beware
"Did you know that if you run a spell check, say for example on a tacky little coin newsletter, the program wants to change "MS70" to "MESS"? Now, there's an overgraded coin for you."
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Comments
God bless Frank Zappa.......
Anyone buying coins they don't understand runs a risk of paying too much since few
people offer coins for too little. Since value is far more the effect of demand than of
rarity there is always a market risk as well.
As Michael often says, buy coins with discretionary funds. Learn your series and know
what to expect for the money.
He will say..... "Grade it what you want, I want this amount of money." Plain and simple.
<< <i>Many collectors don't know, and the "slab" provides them a security blanket that gives them more confidence to buy a coin at that or any price level. >>
The problem is that so many of them never get beyond needing that security blanket. They buy their nice safe slab, but never do critical comparisons against other coins and never really learn WHY the coin graded the way it did. So they never actually learn to grade for themselves but depend on the crutch. And doing so almost guarantees that eventually the "mistakes" will begin to gather in their collections because they can't recognize them when they come along.