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Collecting only PCGS graded coins??
Franklinwho
Posts: 140
Hi everyone.
First I would like to introduce myself. My name is Ryan and I just recently graduated from the University of San Diego with my MBA. I first was introduced into this hobby by my grandfather. He was an amazing man and always made sure that his grandkids got their coins for xmas gifts (he gave us mint sets starting from our birth year). As I grew up I started to ask him more and more about his coins and what he liked to collect (Morgans in case you were curious...actually 1000s of them). He never believed in sending coins in for grading as he felt he could, as he put it, "grade with the best of them".
In the past few years I have started to get more and more interested. I know I cant grade coins so I buy graded coins where I can find the most current value (hint hint pcgs coins). In fact I have only been purchasing pcgs coins. Is this bad? I am "actively" collecting buffs, ase, and franklin (fbl 64).
I hope this wasnt to long and bore anyone. I look forward to talking with all the pros on this board and learning as much as I can, hoping one day that I can be knowledgeable enough to encourage and pass down my collection to my kids and grandkids.
-Ryan
First I would like to introduce myself. My name is Ryan and I just recently graduated from the University of San Diego with my MBA. I first was introduced into this hobby by my grandfather. He was an amazing man and always made sure that his grandkids got their coins for xmas gifts (he gave us mint sets starting from our birth year). As I grew up I started to ask him more and more about his coins and what he liked to collect (Morgans in case you were curious...actually 1000s of them). He never believed in sending coins in for grading as he felt he could, as he put it, "grade with the best of them".
In the past few years I have started to get more and more interested. I know I cant grade coins so I buy graded coins where I can find the most current value (hint hint pcgs coins). In fact I have only been purchasing pcgs coins. Is this bad? I am "actively" collecting buffs, ase, and franklin (fbl 64).
I hope this wasnt to long and bore anyone. I look forward to talking with all the pros on this board and learning as much as I can, hoping one day that I can be knowledgeable enough to encourage and pass down my collection to my kids and grandkids.
-Ryan
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Comments
Enjoy the ride and as your experience grows, so should your ability and comfort with grading coins for yourself.
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Ya ive read that alot on here. lol.
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So i like to read
As far as buying, or selling... I always use the Coin Dealer Newsletter (CDN) or "graysheet"...
Hope this helps... And welcome to the CU forum...
Rob
GREETINGS from Indiana and welcome.
-Randy Newman
<< <i>I use the PCGS rare coin market report published every month to get some idea the value of PCGS graded or other TPG (NGC/ANACS) coins only...
As far as buying, or selling... I always use the Coin Dealer Newsletter (CDN) or "graysheet"...
Hope this helps... And welcome to the CU forum...
Rob >>
Rob your speaking greek...
Where do I find the CDN or graysheet as well as the market report. Thanks
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
and raw coins. You should turn down a nice coin because it is raw or in the "wrong" holder...but you must
know how to grade and authenticate, because even PCGS slabs have been counterfeited.
You are asking a good question, though the answer will differ based on the series, grade levels, and your pocketbook.
For many years, there have been series where PCGS grading has been tighter than NGC, and also the other TPG's. Standing Liberty quarters , with Full head designation, the entire Barber series in MS 63 and better, MS 64 and better capped bust halves, Early dollars in AU 55 and better. Buffaloes and Lib nickels in 66 or better also seem to come nicer at PCGS.
But, NGC does a fair job at lower garde levels of these same series, in many cases.
And NGC gold, both proof and early dates, can be found on a par with PCGS.
All this will become apparent after you have viewed hundreds( if not thousands) of examples of the same grade in the series you collect.
Good hunting
All of that having been said, however, remember that even with the PCGS holder, you would do well to keep a few basic rules in mind:
1) Never buy a coin unless you really love it.
2) Always look for strike, luster, clean surfaces, and eye appeal.
3) Learn about the coins you are collecting, and look at lots of coins before you pull the trigger.
Most of all, enjoy the hobby !!!!!!!!!!
Best,
Sunnywood
Sunnywood's Rainbow-Toned Morgans (Retired)
Sunnywood's Barber Quarters (Retired)
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<< <i>I use the PCGS rare coin market report published every month to get some idea the value of PCGS graded or other TPG (NGC/ANACS) coins only...
As far as buying, or selling... I always use the Coin Dealer Newsletter (CDN) or "graysheet"...
Hope this helps... And welcome to the CU forum...
Rob >>
Rob your speaking greek...
Where do I find the CDN or graysheet as well as the market report. Thanks >>
Go to: www.greysheet.com
or
www.pcgs.com & click on the link "price guide".
Not knowing how to grade coins is how all of the rest of us started out too.
Buying just PCGS coins until we figured out how to grade (which is a constant process) is a far better choice than the one many of us made as beginners.
In my opinion you're absolutely brilliant, and if I could go back and do it all over again I'd do the same thing you are.
There is no right or wrong way to collect coins as long as a person enjoys the hobby. Collect what you like.
Best to learn how to grade before spending big money on coins, even if buying certified, even if buying PCGS only. Other useful things to learn include pricing, scarcity, and making contacts. By pricing, I mean learning the typical wholesale, retail and auction prices for the coins you are interested in. As for scarcity, some coins have a big price tag, but are readily available. Some coins only come on the market rarely. Best to learn that before dropping the big money. Relationships with dealers and/or collectors will help get access to better coins and also better pricing when buying and selling.
<< In fact I have only been purchasing pcgs coins. Is this bad? >>
I collect raw and graded coins; the only slabbed coins I own are PCGS and some of the raw ones will end up in PCGS slabs one day!
Nice to hear your Grandfather turned you on to a great hobby.
My advice, like many others, is to read, read, and then read some more, and be sure and learn to grade. But don't just concentrate on PCGS material. Don't ignore ANACS or NGC graded coins.....lots of great 'raw' coins exist today as well!
More than anything, ask lots of questions, and have fun!
Dave
I, too, am relatively new to collecting, at least to SERIOUS collecting, and every post following yours offers sound advice. Many years of experience here, and as diverse as the coins you collect.
I suggest, as well, picking up a few helpful books on the subject...
A) United States Coins 2009 - The Official Red Book (you can get this for about $13 on Ebay)
B)A Guide Book of Morgan Silver Dollars, by Q. David Bowers (a good read, and very informative historically, with its pages dedicated to each year and mint mark.
C) The Official American Numismatic Association Grading Standards for U.S. Coins - an illustrated book which addresses every U.S. Coin and points out specific areas of grading concern, along with commensurate grading observations.
While these are not the be-all and end-all of collecting and learning to grade coins, I've found them useful guides in my efforts to better learn the nuances and finesse of grading coins, be they raw or slabbed. By no means will it make you an expert, but an old Bhudist Proverb states, "The succesful path requires you to point your feet in the right direction, and keep walking".
Good Luck!
OWC
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Sure....buy the coin, not the plastic.
Only problem is that when you're first starting out many problem coins look good, even tose with issues.
Only after seeing many coins do you start to understand the nuiances of problem vs. no-problem coins.
Read, read, read.
But I read coins books for enjoyment, and education.
But IMO, no book can teach you how coins look when dipped for the first time and cartwheel still exist.
Overdipped and 'heavily worn that are too clean' coins will start to be obvious, but other 'altered surfaces' problems still escape me.
Buying PCGS coins will (almost always) insure no-problem coins that are easier to sell.
I would say continue buying PCGS coins, learning how to grade & detect problem coins, so when the time comes to buy raw coins to send in.....and you will unless you have an unlimited budget.....you will have the knowledge to buy coins that won't be BB.
September '06.
Cool.
"Inspiration exists, but it has to find you working" Pablo Picasso
What is BB? I have seen many people saying this and cant figure out what it is
Thank you everyone for your welcomes. I hope to talk and learn something from each one of you!
In my opinion, both PCGS and NGC offer the most liquid product and are in general the most consistent grading services. Of course, neither is perfect and if you know what you are doing you may do well in your purchases. Conversely, if you never learn how to grade you may end up with low end coins. Good luck.
In honor of the memory of Cpl. Michael E. Thompson
<< <i>September '06.
Cool.
Haha yeah. Been a while. I joined this site in 06, right around the time my grandpa was getting sick and wanted me to go through his coins with him. I wanted to learn more and I heard this was the best place to learn so i joined and read (Obviously not nearly enough). I have been buying ase, and franklins and decided that i really need some help and guidance.
There has been some good advice on this thread. I would read Sunnywood and TomB carefully. It is hard to grade coins. One needs to look at lots of coins. Hundreds. Thousands. Anyway it is hard to go wrong if you love the look and it is in a PCGS holder.
You wouldn't believe how long it took to get him to sit still for this.
In addition to getting the coin books, I suggest if possible, go to large shows and look at as many examples of coins in the grades that interest you. This way, say, you can get an idea of what an 1883 CC Morgan looks like in MS 65. Compare such coin in the same grade in PCGS and NGC holders. I agree with Tahoe Dale re grading. Might add that PCGS coins seem to be nicer in MS 65 when talking about Braided Hair Large and Half Cents, and Indian Head Cents in MS 65 and MS 66.
Be aware that the graders, while skilled people, make mistakes occasionally. Before buying what for you is an expensive coin, be sure you can tell the difference between a problem coin and a problem-free coin. A second set of eyes viewing a coin before making a purchase is a good idea.
Toned coins are a different kettle of fish. Before even thinking of paying a premium for one of these babies, you should feel that you can distinguish between a naturally toned versus an artificially toned / colored coin. If you don't feel comfortable with this, either get up to speed, find someone who is more knowledgeable than you are, or don't buy them.
"Seu cabra da peste,
"Sou Mangueira......."
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If you don`t have an eye for " GRADING " Buy the plastic. Let PCGS save you from a very expensive $$$$$ lesson.
<< <i>I would say continue buying PCGS coins, learning how to grade & detect problem coins, so when the time comes to buy raw coins to send in.....and you will unless you have an unlimited budget.....you will have the knowledge to buy coins that won't be BB. >>
What is BB? I have seen many people saying this and cant figure out what it is
Thank you everyone for your welcomes. I hope to talk and learn something from each one of you! >>
A "BB" is slang for "Bodybag", which refers to the flips that PCGS returns problem coins in that have been sent in for grading. A coin can be bodybagged for any number of problems, such as cleaning or polishing, damage to the rims or surfaces, tooling, or the ever-popular "altered surfaces", which is a generic term for a coin whose surfaces have been messed with in some way in an attempt to "improve" the coin.
Bodybags are frustrating to the submitter because they are charged the grading fee for the coin, even though it is not encapsulated. Hope this helps.
-Randy Newman
graded. He'd get a better price after doing so in 99% of the cases. If he has no intention of selling and
wills them to you then you can make that decision!
WELCOME!
bob
first of all.............
second, i think it is wise to buy top tier slab coins when new at the hobby. it is much less reckless when buying coins until you learn to grade.
i also think it is wise NOT to send in coins to get slabbed until you do learn how to grade efficiently...........................................................
this could save you a lot of money jmho.....
Unfortunately, my grandfather is not around anymore. He has willed his collection to my brother and I, and i will never sell any of his coins. I have only seen a fraction of his collection, but seeing as he has lived in las vegas since the 1960s and collected heavily back then, i think the odds of him having some really nice cc morgans is probably quite high.