Do you regret cracking a coin out of its slab?
Bithrate
Posts: 555 ✭✭
I've been cracking quite a few slabs recently to put the coins in an album. I've been having a great time, and was wondering if anyone has eventually regretted cracking the coin out of the slab...
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JET
I collect all 20th century series except gold including those series that ended there.
So if you are planning to sell these coins anytime in the near future, I'd say cracking them out is not advisable.
On the other hand, if you bought them to keep, enjoy having them in an album and don't anticipate selling anytime soon, then I'd say you should do what you choose.
<< <i>Have you ever tried to sell an album filled with raw coins? It's hard.
So if you are planning to sell these coins anytime in the near future, I'd say cracking them out is not advisable.
On the other hand, if you bought them to keep, enjoy having them in an album and don't anticipate selling anytime soon, then I'd say you should do what you choose. >>
I agree, putting coins in an album seems so 1960ish. lol
A couple are rattlers and another I'm afraid if I crack it, it will never get back in a 63 holder again... It looks overgraded.
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<< <i>I've been cracking quite a few slabs recently to put the coins in an album. I've been having a great time, and was wondering if anyone has eventually regretted cracking the coin out of the slab... >>
Unfortunately yes... Did a thread on it awhile ago... Cracker's Remorse
Now several of them are FSHO on the BST, sticking with slabs from now on and will keep them in their plastic.
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<< <i>Never. If the coin was worthy, it would always get back in plastic if needs be. >>
Yes, but it takes time and it ain't cheap to get a collection of coins reslabed. Unfortunately, coins sometimes have to be sold in haste due to some financial emergency.
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Carl, who'd he send it to?
Every coin that I have sent o PCGS with a relatively new scratch (well before I owned the coin) gets BB.
Another case of 'grade the problem thousand dollar coin but not the problem hundred dollar coin'?
Anyway, the only time I've cracked out a coin ws to resubmit.
It's worked both ways, sometimes for the better, sometimes not.
Never cracked out to put the coin in an album, though I have some AU Frankies that are worth less than the grading fee's.
<< <i>
Never cracked out to put the coin in an album, though I have some AU Frankies that are worth less than the grading fee's.
You sort of made my point, I have far more coins that I regret putting into slabs than I have regretted cutting out of one.
The only coin I haven't been able to bring myself to crack is a modern clipped cent that I bought for my date set. I was the underbidder on it when it sold on eBay, then had non-buyers remorse and contacted the winner (a dealer who I knew had purchased it for resale). Unfortunately, he had already submitted it to PCGS. I still bought it, but the mark-up included the slabbing fees. Now I feel like I can't crack it out since I paid for the holder.
Sean Reynolds
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WS
As a collector, I either have coins graded or purchase them graded for a set. When another coin comes along that I think is of higher quality and grade, I'll purchase it and replace the coin with the lower grade in the collection. This is an ongoing occurance especially for higher priced coins.
Lets say I buy an MS63 for $15, crack it out of its guaranteed grade slab and put it in a Dansco. (1. Whoops, that finger print will never show up!) (2. Whoops, I can't believe I dropped that sucker!) (3. Whoops, was that line there before?!?) Whatever.
Now along comes an MS64 for $75. I swoop it up to replace that once certified MS63 which is now worth a buck due to either 1, 2, or 3. Or, worth a buck simply because nobody is in the market for a "once slabbed as MS63 by so and so"!
Now move a little further down the line. An MS65 comes up for $200! I swoop it up to replace my $75 MS64 and can only pray that I would recover my initial $75 purchase price. Of course I could have it regraded and then pray it comes back as an MS64 but whaty if it goes down a point? Worse yet, what if it goes up a point?
My opinion:
If you are going to purchase slabbed coins which have guaranteed grades then you shopuld leave them in the slab!
If you are building an album set, then use your good grading skills and keen eye to purchase raw coins for that album.
If you do it right, you shouldn't lose your shirt and you'll never have any regrets over cracking out a perfectly good coin.
The name is LEE!
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Floyd fan here as well.
<< <i>Yes, it is in my 7070.
Are you saying "Yes" that you regret cracking it out or simply yes that you cracked it out?
As for Mr. Birthrate, you are cretainly welcome to do whatever you want but if you are building a set with 63 to 65 coins, don';t get real uset at yourself if that 65 you bought slabbed ends up pulling 63 or less money should you decide to sell.
Slab grading has been all over the place since it's inception in the late 80's. It seems that grades were low and then grades were high and sometimes just plain rediculous but, the one constant regarding graded coins is that to the uninitiated, its the number on the slab that usually dictates the price it could bring.
Personally, I equate cracking coins out of their guaranteed slabs to be along the same lines as russian roulette as you just never know when that chamber is loaded. And getting your prized coin into a slab with its original grade can get to be an expensive lesson if you need to sell it.
Despite the claims of many on these forums, collecting has a LOT to do with value and value can be equated to a professionally graded coin. Yes there have been many high grade collections that have come to the market place and brought outstanding prices but those, I believe, are the exceptions.
As I stated earlier, if I were going to build an album set, I would fill it with raw coins of my selection. I might even get some really great prices!
The name is LEE!
The name is LEE!
<< <i>
<< <i>Yes, it is in my 7070.
Are you saying "Yes" that you regret cracking it out or simply yes that you cracked it out? >>
Yes, I do regret cracking it out. Lee, you make a very good point...
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
Actually, I just put the best problem coins I can find in the 7070. I have no problem cracking those out.
the spot was on the mirror details so it dissappeared with some MS70....i'd say she's at least a 69 now....lol
At the end of the day, it all comes down to how comfortable one is regarding money spent on the 7070. To some, that may be $1,000 without the gold and to others it may be $30,000.
I probably won't be comfortable cracking rare coins above AU. And definitely not rare proofs. As I mentioned, I have many slabbed coins and they're staying that way...
PrivateCoinCollector, how did those problem coins get into slabs to begin with?
<< <i>I've been cracking quite a few slabs recently to put the coins in an album. I've been having a great time, and was wondering if anyone has eventually regretted cracking the coin out of the slab... >>
I had a customer who had a complete set of MS64 and MS65 Red Indian cents, cracked them out of NGC and PCGS slabs , put them in a Dansco album and 5 years later they were all brown or red/brown. Ouch.
"If I say something in the woods, and my wife isn't around to hear it. Am I still wrong?"
All kinds of coins in my 7070 were cracked out of slabs. Granted, some were ten dollar coins, but some were quite a bit more. The most recent to come to mind is my 1883 no cents Nickel that was in a PCGS MS65 tomb. Not once, not even for a second, have I ever regretted it. For full disclosure sake - I was greatly inspired by Baley's 7070, and there is no way someone can ever build one even a tenth as nice without some cracking going on. If it is a relatively expensive coin I'm buying, I kind of price in my head the slight loss I might take selling raw or the re-grading fees.
I think, and this is just my opinion, the fears of damaging the coin are a bit over the top. If you are careful, and know what you are doing, it is not a scary or dangerous process. That said, you'd never catch me cracking a $5000 + coin - I would ask PCGS or NGC to do it for me at a show.
It IS a whole hell of a lot easier to sell a coin slabbed though - so while I am a huge fan of cracking the suckers out, it is not something I would recommend to someone who even THINKS they may not want to keep the coin quite a while.
All this talk has me wanting to take pics of my 7070 coins now.
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