After you buy a coin, and if you plan to keep it, what's the importance of a TPG opinion on the coi
IGWT
Posts: 4,975 ✭
I can understand the importance of the TPG grade when buying a coin because -- for better or for worse -- it largely determines the price that one has to pay to acquire the coin. But I don't understand the importance of a TPG grade once a coin is part of my collection. It's irrelevant at that point, isn't it? And isn't it irrelevant unless and until I decide to sell the coin?
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The opinion has resale value.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Did you read beyond the title of the thread?
<< <i>The opinion has resale value.
Did you read beyond the title of the thread? >>
Even if you hold the coin for 50 years, eventually it will probably be resold. If it got lucky when it was being slabbed and was overgraded, or maybe has a problem that would keep it from getting graded again, then you'll be out of a fair amount of money.
<< <i>...and it provides a benchmark of sorts to your heirs in the unlikely event... >>
My very first thought on reading the topic title.
Let's face it, it's not an unlikely event. As Jim Morrison told us many years ago, "Nobody gets out of here alive".
Now if by "keeping it" means you plan to be buried with it, well............. That's just disturbing.
If the coin is a high dollar rarity, then by all means it should be attributed as such.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Fifty years! I like that better than RYK's answer. His post reads like I'll be croaking tomorrow.
<< <i>Even if you hold the coin for 50 years, eventually it will probably be resold. If it got lucky when it was being slabbed and was overgraded, or maybe has a problem that would keep it from getting graded again, then you'll be out of a fair amount of money. Fifty years! I like that better than RYK's answer. His post reads like I'll be croaking tomorrow. >>
MDs have statisticly short life expectancies. (Hope he beats the odds.) --Jerry
I can hide the dirty little secret that my coin is only a 62. I can crop the picture so nobody else knows what PCGS thinks! Or, if that doesn't work, I might just crack it out to avoid the shame.
<< <i>No matter what you say, we all care what other's think, especially the experts. You don't want to spend your life apologizing becuase you like the coin but "PCGS only thought it was a 62". --Jerry >>
Nice try, but no.
"We all" does not include we all-you just think it does.
Did you read beyond the title of the thread?
I did, but it didn't matter, for two reasons. First, most of the coins I "plan to keep" don't get kept forever. And second, even if I do keep the coin until the day I die, my heirs may recapture the value of the slab on resale.
As a result, I only crack "personal coins" from slabs when I perceive the slab to have no commercial value.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
If I'm planning to crack it out to put in an album, it means precisely zero.
<< <i>
<< <i>The opinion has resale value.
Did you read beyond the title of the thread? >>
Even if you hold the coin for 50 years, eventually it will probably be resold. If it got lucky when it was being slabbed and was overgraded, or maybe has a problem that would keep it from getting graded again, then you'll be out of a fair amount of money. >>
Isn't this assuming that PCGS will be around in 50 years? Frankly, that is a very big assumption. The same problems will then be just as likely with the coin slabbed.
Ed. S.
(EJS)
<< <i>
<< <i>No matter what you say, we all care what other's think, especially the experts. You don't want to spend your life apologizing becuase you like the coin but "PCGS only thought it was a 62". --Jerry >>
Nice try, but no. "We all" does not include we all-you just think it does. >>
Ok so we all can't be like you. You're the exception that proves the rule. --Jerry
<< <i>
<< <i>Even if you hold the coin for 50 years, eventually it will probably be resold. If it got lucky when it was being slabbed and was overgraded, or maybe has a problem that would keep it from getting graded again, then you'll be out of a fair amount of money. Fifty years! I like that better than RYK's answer. His post reads like I'll be croaking tomorrow. >>
MDs have statisticly short life expectancies. (Hope he beats the odds.) --Jerry >>
Huh...I have never heard/read that before. At any rate, why worry about things that I cannot control?
Actually, IGWT missed the real point of my post. Some collectors, like myself, are fickle and like to hop from one thing to the next. Coins that I thought were keepers get sold to buy whatever the latest area of interest is.
Actually thinking about it I realize that my data is perhaps a little out of date. I think of myself as a young man still but I'm 51. When I was in high school one of my teachers who eventually became my close lifelong friend spent summers as a ghostwritier for the chief of surgery at the University of Missouri. He always had JAMA and the New England Journal laying around and I remember reading that because it seemed counterintuitive. But that was over 30 years ago. --Jerry
Seriously... added assurance that my family will not get screwed if I exit unexpected.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i> I don't understand the importance of a TPG grade once a coin is part of my collection. It's irrelevant at that point, isn't it? And isn't it irrelevant unless and until I decide to sell the coin? >>
If it isn't going in an album, the protection offered from the slab would be my biggest selling point. I suppose the revelancy would be to validate my own thinkings when I bought the coin, and perhaps just insure I didn't miss anything. I would feel pretty bad thinking I had a 10k raw coin sitting in a safe deposit box for Junior to buy something nice with if I croak, and when Junior tries to cash it in, find out it was tooled or some other issue I missed that the TPG would find.
I suppose I'd be more interested in the protection and the authentication/problem finding than worrying about MS63 versus MS64 though. The $20-$40 I'd spend on the slab would be recouped in the 30-40 (I hope) years it sits around waiting for someone after me to enjoy while keeping it fairly safe at the same time.
"You Suck Award" - February, 2015
Discoverer of 1919 Mercury Dime DDO - FS-101
If the grade is high it sweetens the ownership.
I can always spend leisure time appreciating it and coming to a description of it.
Assuming the coin was graded accurately, not much! But then again, there are suckers born every second!
I can understand the importance of the TPG grade when buying a coin because -- for better or for worse -- it largely determines the price that one has to pay to acquire the coin.
False but then again there are suckers born every second!
But I don't understand the importance of a TPG grade once a coin is part of my collection. It's irrelevant at that point, isn't it? And isn't it irrelevant unless and until I decide to sell the coin?
Again, assuming the coin was graded accurately and falls snuggly within the assigned grade, not much! I would be worried about whether the coin was overgraded or low end XX.1 or high end XX.9 for the grade. Otherwise, it may sell again as long as there are suckers born every second!
Leo
Damn, how did everything get italicized?
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>And isn't it irrelevant unless and until I decide to sell the coin? >>
Yes, BUT none of us really own our coins. We're merely temporary caretakers. These coins are not going to be burried/burned with us so at some point in time (very likely not of our choice) they will be sold. You're going to have a difficult time submitting your coins for grading/slabbing after you've suddenly expired from a car accident, heart attack, stroke, etc...
Broom & dustpan. (Just making note of my idea for MrHalfDime's Christmas present).
................Modern American Axiom
There's no face to fall off a Shield Nickel.
<< <i>You're going to have a difficult time submitting your coins for grading/slabbing after you've suddenly expired from a car accident, heart attack, stroke, etc...
That may be fine for you but I'm sure many, many collectors don't have friends that are both close enough to them and knowledgeable enough in numismatics to handle the submitting, slabbing, cataloging and selling the collection in an efficient and profitable manner. Best to be prudent and get things ready now so when the inevitable happens it's an easy process.
I've seen too many of "those" deals.
<< <i>You don't HAVE a "friend" if coins are involved.
I've seen too many of "those" deals. >>
Good point.
However, for myself, for my heirs, and for my own collection, in the event that I am not allowed sufficient time to dispose of it myself, I have made arrangements with another specialist to assist my heirs in that task. A sort of tontine if you will. My collection is a very specialized collection, by die marriage and by die state, and will likely end up in the collections of a very few other specialists, and no slab insert, no matter what might be written on it, will appreciably change the value realized over what those specialists would offer for those same coins.
Perhaps even this admitted raw coin afficianado will one day submit his half dimes for slabbing just prior to selling them, assuming that I have the time to do so prior to being run down by that proverbial bus. But for now, none of them are in slabs and I am quite comfortable with that.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
<< <i>I certainly understand the problem experienced by many collectors who 'expire' prematurely, leaving their heirs, who are typically inexperienced in numismatics, with the difficult task of selling off the collection. Presumably their interests would have been better served if the coins had all been slabbed, the point made by several respondents here. I have personally helped several families to dispose of inherited collections, who would otherwise have been helpless.
However, for myself, for my heirs, and for my own collection, in the event that I am not allowed sufficient time to dispose of it myself, I have made arrangements with another specialist to assist my heirs in that task. A sort of tontine if you will. My collection is a very specialized collection, by die marriage and by die state, and will likely end up in the collections of a very few other specialists, and no slab insert, no matter what might be written on it, will appreciably change the value realized over what those specialists would offer for those same coins.
Perhaps even this admitted raw coin afficianado will one day submit his half dimes for slabbing just prior to selling them, assuming that I have the time to do so prior to being run down by that proverbial bus. But for now, none of them are in slabs and I am quite comfortable with that. >>
This is a great post and illustrates that if your collection doesn’t need to be slabbed and you have made arrangements for their sale then there is nor reason to slab them. Slabbed coins are great for resale as it creates a easily sellable item and does not require some "expert" to get it sold. I think a lot of people like unslabbed coins but they tend to be the experts that are hoping to find those diamonds in the rough. Nothing wrong with that either.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>So, based on the answers so far, I guess a TPG grade is like life insurance.
it's similar...................you gotta pay a premium