Recovering crackster... it's been 21 months since I've cracked
As others have said, completing this collection and freeing many coins from plastic for attractive, compact storage and display of a basic set of US coin types can be a great way to collect, but probably not for everyone, for some of the reasons mentioned in the OP and other replies.
Though for me, rather than view the resulting illiquidity and risk to the coins as liabilities, I find I'm less inclined to "cash in" any of the coins when not slabbed, and this book becomes an heirloom for the kids, in which some of the high detail wiped white coins (seated dollars and a couple others) might pick up a little toning over the years and actually improve a bit. Naturally, not a lot of slide sliding going on now just sitting in my bank box, when I did crack and install I was really careful not to hurt the coins. It was a fun process to fill and upgrade this set but further improvement is probably not practical
when I do have a chance to sit in an armchair with a bourbon and flip through the album, I have no regrets but am also glad it's over with and done.
When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin.
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If I had the money to spend on a high end type set, why not crack em? Coins in an album adds depth and substance, rather than a hunk of plastic. Profit margin, or the look of raw coins? To each his own. Very nice set Baley
Wow! beautiful 7070 set. Thanks for sharing. In my narrow point of view a group of slabs can't compare with that. Also to the person that mentioned doing the set and giving it to his son. I'm also a son that collected with his Dad a long long time ago. The 7070 Dansco I started with our coins but many of the old classic Whitman Albums I cracked coins out of to fill were his. It was much more satisfying to do that than to make a few extra bucks, or even to worry about their resale value. To me this is still a hobby, but I'm not going to throw money away in the long run.
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries.
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries. >>
What if your interests change (for example, you discover girls) and you want to sell your coins? It's expensive and time consuming to get your more expensive reslabbed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries. >>
What if your interests change (for example, you discover girls) and you want to sell your coins? It's expensive and time consuming to get your more expensive reslabbed. >>
Ahem...Discovered, and kept separate (at least so far )
Many others will go before those that require slabbing. EDIT: If I even have any that require slabbing. Many collectors can appreciate my kind of coins without plastic.
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
I've asked you this a few times sometimes when you make a comment like this. What mechanism do slabs have that turns dishonest dealers honest?
<< <i>IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE???? >>
Slabs were, in my interpretation of numismatic history, were invented because in the mid-1980's it was becoming clear that numerical grading did not work. Grades overlap, and combined with an absurd grade price scale, made it quite profitable for those with much "marketplace power" to sell at one grade and buy at a lower grade. Of course, since there are many more people with little "marketplace power" than with much, this meant just the opposite for the masses. And if the masses suddenly stopped paying large premiums for small differences in grade, this would be bad for those who had acquired massive "marketplace power," such as investment-oriented dealers.
So the problem of numerical grading was swept under the rug and claimed to be solved, by putting coins in coffins. Now a coin could be sold back at the same grade as it was purchased. Of course, thanks to the crackout game, the converse need not be true; a coin can be purchased at one grade and sold at a higher one just the same; all they need is some (likely) former or future people (2-4) of much "marketplace power" to agree with them at one time.
Sure, sweeping problems under the rug do have issues. It should eventually lead to people realizing yet again that numerical grading is dead. Of course, the coffin inventors could just put band-aids on the coffins and claim that numerical grading is still alive.
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
I've asked you this a few times sometimes when you make a comment like this. What mechanism do slabs have that turns dishonest dealers honest? >>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw?
Just because I'm old doesn't mean I don't love to look at a pretty bust.
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts. >>
Fair enough, but why should collecting always about maximizing the financial return one's heirs might achive? None of them participated in building it. None of them missed out on a single life opportunity because I was spending my entertainment dollars on my collection. None of them will be financially devastated if they never received a dime from selling it.
How about maximizing MY return for a change? And my return is maximized by actually enjoying my collection--and I can best enjoy it raw.
Just because I'm old doesn't mean I don't love to look at a pretty bust.
<< <i><< "why crack coins out and place them in an album?">>
Simple answer, "Because I can" >>
I like the sound of shatterin' plastic I like the sweet smell of the gasket in between I like to crack out coins and I'll keep on doin it I like to crack out coins cause I'm flat out mean
I like the look of terror on the faces of the people When I crack out coins out on the bourse scene I like the feel of my trusty ole tile snips When I'm crackin the plastic with a look of glee
I like the feel of a coin when it's naked And the look as it glistens in the palm of my hand Say what you will and if don't like it You can walk on down the aisle and go pound sand
Then I take all the labels and I put em in a pile And set em all on fire as the people all cry "But what about the pop reports? The count will all be wrong" To me it doesn't matter and that's why I wrote this song
I like the sound of shatterin' plastic I like the sweet smell of the gasket in between I like to crack out coins and I'll keep on doin it I like to crack out coins cause I'm flat out mean
Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts. >>
But any "value" (scare quotes) "added" (beyond the slabbing fees) by slabs completely fictional and unsustainable. I'm man enough to admit that what I can get for my coins is what they are worth even if raw. In fact on the few occasions I have sold coins this is exactly what I have done. I don't need any fake (slab) value also; and to try to get that gives me some ethical queasiness. (As is always a case, there's bound to be a rant about numerical grading and the obscure grade/price function working in the coin business, but I don't feel like going into that right now.)
Comments
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PCGS rattler CRACK
Gulp.. Craaaaack..
ahahahaha!
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oh what the hell, crack crack crack..
Recovering crackster... it's been 21 months since I've cracked
As others have said, completing this collection and freeing many coins from plastic for attractive, compact storage and display of a basic set of US coin types can be a great way to collect, but probably not for everyone, for some of the reasons mentioned in the OP and other replies.
Though for me, rather than view the resulting illiquidity and risk to the coins as liabilities, I find I'm less inclined to "cash in" any of the coins when not slabbed, and this book becomes an heirloom for the kids, in which some of the high detail wiped white coins (seated dollars and a couple others) might pick up a little toning over the years and actually improve a bit. Naturally, not a lot of slide sliding going on now just sitting in my bank box, when I did crack and install I was really careful not to hurt the coins. It was a fun process to fill and upgrade this set but further improvement is probably not practical
when I do have a chance to sit in an armchair with a bourbon and flip through the album, I have no regrets but am also glad it's over with and done.
Liberty: Parent of Science & Industry
That collection is superb.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin.
BST Transactions: DonnyJf, MrOrganic, Justanothercoinaddict, Fivecents, Slq, Jdimmick,
Robb, Tee135, Ibzman350, Mercfan, Outhaul, Erickso1, Cugamongacoins, Indiananationals, Wayne Herndon
Negative BST Transactions:
eye for quality. Thank you for sharing the pictures
with all of us.
Camelot
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Coins in an album adds depth and substance, rather than a hunk of plastic.
Profit margin, or the look of raw coins? To each his own.
Very nice set Baley
<< <i>CRACK KILLS >>
than i love crack
<< <i>
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
<< <i>
<< <i>
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries.
What if your interests change (for example, you discover girls
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
This is true, but to be fair I'm eighteen and this is not on the top of my list of worries.
What if your interests change (for example, you discover girls
Ahem...Discovered, and kept separate (at least so far
Many others will go before those that require slabbing. EDIT: If I even have any that require slabbing. Many collectors can appreciate my kind of coins without plastic.
<< <i>
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
I've asked you this a few times sometimes when you make a comment like this. What mechanism do slabs have that turns dishonest dealers honest?
Ed. S.
(EJS)
<< <i>IS IT NOT THE WHOLE REASON THAT THEY WERE SLABBED IN THE FIRST PLACE???? >>
Slabs were, in my interpretation of numismatic history, were invented because in the mid-1980's it was becoming clear that numerical grading did not work. Grades overlap, and combined with an absurd grade price scale, made it quite profitable for those with much "marketplace power" to sell at one grade and buy at a lower grade. Of course, since there are many more people with little "marketplace power" than with much, this meant just the opposite for the masses. And if the masses suddenly stopped paying large premiums for small differences in grade, this would be bad for those who had acquired massive "marketplace power," such as investment-oriented dealers.
So the problem of numerical grading was swept under the rug and claimed to be solved, by putting coins in coffins. Now a coin could be sold back at the same grade as it was purchased. Of course, thanks to the crackout game, the converse need not be true; a coin can be purchased at one grade and sold at a higher one just the same; all they need is some (likely) former or future people (2-4) of much "marketplace power" to agree with them at one time.
Sure, sweeping problems under the rug do have issues. It should eventually lead to people realizing yet again that numerical grading is dead. Of course, the coffin inventors could just put band-aids on the coffins and claim that numerical grading is still alive.
Ed. S.
(EJS)
How long did it take you, Baley?
<< <i>
<< <i>
<< <i>
<< <i>When it comes time to sell, I wonder how many of these coins will need to be reholdered in order to maximize their selling price? And how much it will cost? >>
Sometimes there are things more important than maximizing profit margin. >>
Like helping your wife and children get a fair price for your coins if you should die? >>
I've asked you this a few times sometimes when you make a comment like this. What mechanism do slabs have that turns dishonest dealers honest? >>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw?
<< <i>
<< <i>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts. >>
Fair enough, but why should collecting always about maximizing the financial return one's heirs might achive? None of them participated in building it. None of them missed out on a single life opportunity because I was spending my entertainment dollars on my collection. None of them will be financially devastated if they never received a dime from selling it.
How about maximizing MY return for a change? And my return is maximized by actually enjoying my collection--and I can best enjoy it raw.
<< "why crack coins out and place them in an album?">>
Simple answer, "Because I can"
"Keep your malarkey filter in good operating order" -Walter Breen
Simple answer, "Because I can"
Short and sweet. NO DOUBT it's not for those with short-term horizons, or the itch to flip coins, or a fear of the raw.
but for a 30-something with a few decades of collecting left in him, who always dreamed of having a nice type set as a kid, this project felt "right"
Liberty: Parent of Science & Industry
<< <i><< "why crack coins out and place them in an album?">>
Simple answer, "Because I can" >>
I like the sound of shatterin' plastic
I like the sweet smell of the gasket in between
I like to crack out coins and I'll keep on doin it
I like to crack out coins cause I'm flat out mean
I like the look of terror on the faces of the people
When I crack out coins out on the bourse scene
I like the feel of my trusty ole tile snips
When I'm crackin the plastic with a look of glee
I like the feel of a coin when it's naked
And the look as it glistens in the palm of my hand
Say what you will and if don't like it
You can walk on down the aisle and go pound sand
Then I take all the labels and I put em in a pile
And set em all on fire as the people all cry
"But what about the pop reports? The count will all be wrong"
To me it doesn't matter and that's why I wrote this song
I like the sound of shatterin' plastic
I like the sweet smell of the gasket in between
I like to crack out coins and I'll keep on doin it
I like to crack out coins cause I'm flat out mean
<< <i>
<< <i>
<< <i>
There are many honest coin dealers and quite a few of them are fellow forum members. It's your responsibilty to instruct your spouse as to how best to dispose of your collection after your death. Give her a list of honest dealers who would be interested in the type of coins you have or the names of major auction firms that would sell your coins. >>
Once again, though, why would those honest coin dealers suddenly turn dishonest after your death simply because your collection was raw? >>
They wouldn't turn dishonest. But if your coins are sold in an auction, the coins (in most cases) would have to be reslabbed in order to maximize your return which is expensive and time consuming. Also, honest coin dealers will not be as generous buying raw coins that may have some hidden problems compared to buying coins in top tier slabs where the coins have been examined by a panel of numismatic experts. >>
But any "value" (scare quotes) "added" (beyond the slabbing fees) by slabs completely fictional and unsustainable. I'm man enough to admit that what I can get for my coins is what they are worth even if raw. In fact on the few occasions I have sold coins this is exactly what I have done. I don't need any fake (slab) value also; and to try to get that gives me some ethical queasiness. (As is always a case, there's bound to be a rant about numerical grading and the obscure grade/price function working in the coin business, but I don't feel like going into that right now.)
Ed. S.
(EJS)