why crack coins out and place them in an album?
joebb21
Posts: 4,748 ✭✭✭✭✭
I just viewed on another thread another 70/70 album (or in this case type set album)
either way- my question is WHY ON EARTH WOULD YOU CRACK OUT THE COINS TO PLACE THEM IN AN ALBUM?????
IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE????
WONT THE COINS JUST GET BANGED, damaged,or in some way RUINED????
please explain!
either way- my question is WHY ON EARTH WOULD YOU CRACK OUT THE COINS TO PLACE THEM IN AN ALBUM?????
IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE????
WONT THE COINS JUST GET BANGED, damaged,or in some way RUINED????
please explain!
may the fonz be with you...always...
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Comments
2. Many people prefer the look of their 7070 coins in the 7070 folder.
3. Many people buy the slabbed coins to be assured of their grade and authenticity.
And I bet there are many, many more reasons.
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<< <i>WONT THE COINS JUST GET BANGED, damaged,or in some way RUINED???? >>
Not at all if you handle and store them properly.
<< <i>IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE???? >>
Likely not. I believe most coins are slabbed to make them more sellable.
<< <i>WHY ON EARTH WOULD YOU CRACK OUT THE COINS TO PLACE THEM IN AN ALBUM????? >>
Because some prefer this method of storage/display. It's all about personal preference.
They look better side-by-side in an album, IMO.
But . .
I had a 7070 that was set up by 'eye-appeal' and would grind a show to a halt whenever I brought it. Loved the look, and the album was breathtaking. Yet I took them out for some of the reasons you described and certified all with PCGS. I now keep my type set certified, along with almost all keys (and my Registry Morgans and Commems).
To each his own. If I croak, I want ease of disposal too . . . and even the 4 major Lincoln keys have an engraved planchet in the Dansco hole . . . and they are certified.
I love the look of a Dansco, but for my higher end coins, I have gone almost exclusively certified.
Drunner
You see, there's a quite a few folks that have way, way too much money and they don't know how to get rid of it.
These folks will decide they want coins in an album, see.
So, they buy raw coins they think they'd like in their album, then pay lots of money to have them slabbed.
Some won't slab but they still have to pay anyway. Then they have to buy yet another raw coin and give it another go.
Doing all this gets rid of some of their excess unwanted money.
When they get the coins from the TPG, they just crack them out of the slab, and put the raw coins in the album, as silly as it sounds.
Then when they tire of the album thing, they send the coins back to the TPG and have them slabbed again so they can rid themselves of the now unwanted coins easier.
This gets rid of much more of their excess money.
Many of the coins will tend to downgrade the second time through as well, or won't slab at all, so there goes a lot more of their unwanted money.
But these folks are now happy as clams, because they aren't burdened with piles of cash any more to have clutter up the house and stumble over.
It's all about money joe, and the folks that have way too much just do what they have to do to get rid of it.
Simple as that.
Ray
<< <i>I have several albums (Lincolns, Jeffs, Roosies) that look super. Coins certainly do look nice as a matched set in a Dansco.
But . .
I had a 7070 that was set up by 'eye-appeal' and would grind a show to a halt whenever I brought it. Loved the look, and the album was breathtaking. Yet I took them out for some of the reasons you described and certified all with PCGS. I now keep my type set certified, along with almost all keys (and my Registry Morgans and Commems).
To each his own. If I croak, I want ease of disposal too . . . and even the 4 major Lincoln keys have an engraved planchet in the Dansco hole . . . and they are certified.
I love the look of a Dansco, but for my higher end coins, I have gone almost exclusively certified.
Drunner >>
Drunner has a good point. If the coin you crack loses significant amounts of money if regraded a single point lower, then a collector should really, really consider the consequences of cracking a coin just to put it in a Dansco. If he/she can afford to take the loss and/or doesn't mind resubmitting two or more times to get it back into what it was cracked out of, then crack away.
Dansco's are cool but definitely old school collecting. Modern collecting involves storage boxes for certified material.
Me, for the stuff I colect, filling a Dansco is a snap! Getting those MS66 grades is a totally different story.
The name is LEE!
<< <i>It's all about money, joebb21.
You see, there's a quite a few folks that have way, way too much money and they don't know how to get rid of it.
These folks will decide they want coins in an album, see.
So, they buy raw coins they think they'd like in their album, then pay lots of money to have them slabbed.
Some won't slab but they still have to pay anyway. Then they have to buy yet another raw coin and give it another go.
Doing all this gets rid of some of their excess unwanted money.
When they get the coins from the TPG, they just crack them out of the slab, and put the raw coins in the album, as silly as it sounds.
Then when they tire of the album thing, they send the coins back to the TPG and have them slabbed again so they can rid themselves of the now unwanted coins easier.
This gets rid of much more of their excess money.
Many of the coins will tend to downgrade the second time through as well, or won't slab at all, so there goes a lot more of their unwanted money.
But these folks are now happy as clams, because they aren't burdened with piles of cash any more to have clutter up the house and stumble over.
It's all about money joe, and the folks that have way too much just do what they have to do to get rid of it.
Simple as that.
Ray >>
Does anyone have a key date type set or any key dates that were cracked & placed in an album.
That takes guts, IMHO...
Cheers!
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
Maybe the collectors from that time had to use thier eyes insteading of depending on someone elses.
Does that make sense? So in keeping with old thoughs, Raw coins are OK!
I prefer my coins to be in cardboard 2x2s in my binder...I think it gives them a very professional look. I also value the TPG grade for nothing whatsoever. I feel I have the ability to grade about as well as they do on the coins I collect and as such I do not value their grade opinion. I do like the guarantee of authenticity, which is nice on some types I'm not as familiar with.
The single coin that I had slabbed I did for purely monetary reasons. It was a slider, and NGC graded it as 61. I sold it to a collector for his registry. This would not have been possible without NGC certification.
Granted I do not collect high grade coins, so the risk of damage is far less.
<< <i>I just viewed on another thread another 70/70 album (or in this case type set album)
either way- my question is WHY ON EARTH WOULD YOU CRACK OUT THE COINS TO PLACE THEM IN AN ALBUM?????
IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE????
WONT THE COINS JUST GET BANGED, damaged,or in some way RUINED????
please explain! >>
pretty dammed simple reason but not my main reason is that if my coins were in slabs, they would occupy a whole room at least, and just carrying around 1 collection to a coin show could take a wheel barrow.
they are my coins, if i ruin them it is MY problem
K S
<< <i>"why crack coins out and place them in an album?"
They look better side-by-side in an album, IMO. >>
---------------------------------------------------------------------------------------------------------------------------------------
BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
Priced at AU those album coins will turn a nice profit once all those coins are graded and slabed.
<< <i>I just viewed on another thread another 70/70 album (or in this case type set album)
either way- my question is WHY ON EARTH WOULD YOU CRACK OUT THE COINS TO PLACE THEM IN AN ALBUM?????
IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE????
WONT THE COINS JUST GET BANGED, damaged,or in some way RUINED????
please explain! >>
becuase they haven't invented a big slab album for all my morgans....
if you open a album ,it's a thing of beauty. open a slab case oh hum.............
don't get me wrong, my 1893-s , 1894, and 1889 -cc are still in the slab.. but all others were cracked out . the only reason of those three is becuase they are of high grade and more fakes then real.
although every time i open my album it is tempting to crack them out, becuase these will be passed to my son anyway, and no plans to sell.
<< <i>
<< <i>I have several albums (Lincolns, Jeffs, Roosies) that look super. Coins certainly do look nice as a matched set in a Dansco.
But . .
I had a 7070 that was set up by 'eye-appeal' and would grind a show to a halt whenever I brought it. Loved the look, and the album was breathtaking. Yet I took them out for some of the reasons you described and certified all with PCGS. I now keep my type set certified, along with almost all keys (and my Registry Morgans and Commems).
To each his own. If I croak, I want ease of disposal too . . . and even the 4 major Lincoln keys have an engraved planchet in the Dansco hole . . . and they are certified.
I love the look of a Dansco, but for my higher end coins, I have gone almost exclusively certified.
Drunner >>
Drunner has a good point. If the coin you crack loses significant amounts of money if regraded a single point lower, then a collector should really, really consider the consequences of cracking a coin just to put it in a Dansco. If he/she can afford to take the loss and/or doesn't mind resubmitting two or more times to get it back into what it was cracked out of, then crack away.
Dansco's are cool but definitely old school collecting. Modern collecting involves storage boxes for certified material.
Me, for the stuff I colect, filling a Dansco is a snap! Getting those MS66 grades is a totally different story. >>
why i agree with you, and you two make great points, i think its sad that now it seems that we care more about the plastic then the coin inside.....i even been guilty of doing the same thing.
i'm not saying its not needed, we do need it thats for sure.
it's just all those boxes seem soooo COLD !!!!
1) I'm a coin collector, not a slab collector.
2) I know how to grade coins. Ones that might not make it back into the same grade holder, dont get cracked out. They usually get sold and I keep looking for the right coin for my collection.
3) Most of the coins that I buy in slabs for crack outs are not as availible raw.
4) Many raw coins have problems. When buying sight unseen coins, it's easier to buy slabs to avoid most of those problems.
5) I like the group presentation of coins in an album more than the centerpiece of a slab look.
6) I would have no problem selling the types of coins that I would crack out. I would also have no problem getting them back into a holder.
7) The reasons a seller would put a coin in a holder do not always reflect the reasons a collector would buy a coin.
-David
P.S. Just counted the labels in the coin tube I use to store the labels.... 67 of them.
<< <i>I am cracking my walkers as i type this. The reason i do it because i buy my coins at grey sheet bid. I do not have to debate the grade and price with the dealer. I see raw coins in dealers cases marked ms 64, ms65 and most of the time i call them a 63 so i let pcgs or ngc do that part for me. Pricing is then pretty simple and i have a nice coin at a cheap price. >>
And these dealers actually sell you the 64s and 5s for 63 money? Boy they aint too smart.
<< <i>One must remember that before coin grading companies came into being. ALL collector coins were raw..
Maybe the collectors from that time had to use thier eyes insteading of depending on someone elses. >>
Or just bought $hit. Just cuz they collected raw dint mean that they knew how to grade.
<< <i>"why crack coins out and place them in an album?"
They look better side-by-side in an album, IMO. >>
Unless one is gonna show them off [which many here seem loathe or afraid to do] who really cares? There isn't enough eye appeal in a Dansco IMO to offset the risk of not keeping them slabbed. I could see for $25 a pop or less, but not $1,000 coins.
<< <i>
<< <i>One must remember that before coin grading companies came into being. ALL collector coins were raw..
Maybe the collectors from that time had to use thier eyes insteading of depending on someone elses. >>
Or just bought $hit. Just cuz they collected raw dint mean that they knew how to grade. >>
I certainly have my fair share of this common commodity!
Somefolks don't like slabs which is alright by me as their heirs, as pointed out, can now haggle with some dealer that insists the grades are less than what they actually are.
Heck, danged dealers haggle about coins already slabbed so newbies with a recent inheritance don't really stand a chance.
The name is LEE!
<< <i>"I have also been collecting the Gold Spouses" Are they coins? Or Bullion? >>
Why does it matter? The point is that they aren't cheap. However if you take a ms70 and scratch it up, I can pretty much guarantee that you'll never get more than bullion price for it.
plastic is for wussies
<< <i>so... does anybody have old proof gold placed in dansco's??? I would be interested to see that >>
Now it sounds like you are just trying to press some buttons.
Reread your thread and you will see that some people like their coins in slabs, some like their coins in albums, and some like their coins in whatever. You will also see that those bent on one preference versus another will not change their views.
<< <i>so... does anybody have old proof gold placed in dansco's??? I would be interested to see that >>
Personally, I wouldn't put a knockout tab from a Square D electrical box into a Dansco, much less a proof coin. But to each his own.
<< <i>i think what the OP is really wanting to ask is that if you want nice raw coins for a Dansco why not just buy raw coins. it is an undeniable fact that there is a chance of rub or damage when placing/removing or storing for extended periods in a folder. i'm sure many have heard tales of woe when coins are taken from a folder and the rub is seen. >>
Because coins of the grade range that I want aren't readily available raw. For my 7070, I want and have obtained, generally speaking, MS63-MS65 coins. The majority of those grades have already been certified. If I can find them raw, I'm all for it, but the reality is, finding them graded is a lot easier.
I also have a bunch of slabbed coins that I don't plan on cracking any time soon. Like a few people have already said, it really depends on the coin. I'm not going to crack a super-expensive coin (obviously relative to the type) for my 7070.
In all, it's a lot of fun. Collect what and however you want - that's how I see it. I'm in it for the enjoyment.
Edited to add: it's kind of like asking a vegetarian why they don't eat meat. It's preference. Obviously, everyone has their opinion (which I respect tremendously and why I enjoy this forum) when it comes to cracking. My 2c.
<< <i>What is the most expensive coin anyone ever cracked out of a PCGS or NGC slab for the sole purpose of putting it into an Dansco, Whitman or other album? >>
I have cracked both a $750 and a $600 coin, among others of lesser value, though I'm sure others have cracked coins more expensive.
<< <i>"I have also been collecting the Gold Spouses" Are they coins? Or Bullion? >>
They are both coins and bullion.
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Leo
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<< <i>I dont think anyone mentioned saving space. 100 Coins in an album take up a lot less room then 100 coins in slabs. >>
door karl did
Steve
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I also have a bunch of slabbed coins that I don't plan on cracking any time soon. Like a few people have already said, it really depends on the coin. I'm not going to crack a super-expensive coin (obviously relative to the type) for my 7070.>>>
Well put and probably the best post i've read so far. I plead guilty to cracking out too but what you have to remember is that for the most part, the coins that make up a 7070 are not rare and readily available.
The way I look at the 7070 is not as an investment but as a historical record that my son and I put together over a more than a year's time span. The time I spent with him on it doesn't have a monetary value but can't be bought at any price. Think about it, the 7070 doesn't have every coin minted in the U.S. but does have a great great variety and when you throw in the gold page, you have a very nice historical record of the coins produced by U.S. Mints.
We completed it last December and I gave it to him as a birthday/Christmas present which he says he will hand down to his kids....... lol we'll see when he gets in college.
The good thing is that the album has all sorts of coins, from the harshly cleaned 3 cent nickel which was the first coin Greg ever bought to the 1835 Jules Reiver dime which I had a tough time cracking...... (because some of his AU's are notoriously overgraded!).
Greg is 15 now and has a summer job at the local coin B&M so coins, currency and pm's are a big part of his life right now so, all in all not much of monetary investment, but it has paid off at prime+ for me.