Help me decide if I should get the best coins in my collection graded?

ModCrewman

Edit: I've reworded the title

I've just taken a step up in my collecting activities over the past several weeks by beginning to search for high quality raw cameo coins from the 50-70 era such as the 1958 Jefferson discussed in another thread. Stepping up to these proof coins is a pretty significant change from my previous collecting activity which was completing a Jefferson set from circulation. In the early stages of this new endeavor I'm struggling with whether I want to get some of my best raw finds graded or keep them raw.

Benefits of Slabbing:
1. A primary benefit I see of having the coins graded and participating in the registry would be that I could be better assured as to the quality (or lack thereof) of my collection and the quality of my "eye".
2. There is also the potential to score a very high grade coin from my hunt that could be sold to generate additional funds for my buying endeavors.
3. Assured marketability and valuation aid for my heirs.

Negatives of Slabbing:
1. There is the risk that the grading fees would merely redirect funds that could/should be spent acquiring actual coins rather than coin holders.
2. I don't see myself going out and acquiring graded upper tier coins to compete in the registry for many years.
3. If I would score a very high grade, there would be the temptation (obligation?) to sell coins that I would otherwise hold and enjoy.

I'm sure there are other benefits/negatives, that I've not listed, but these are some I've been struggling with. Opinions?

RedTiger

For now I would vote against slabbing, unless money is not at all an issue. That seems doubtful for someone who collects circulated Jeffersons. You mentioned you've only been looking at proofs for a few weeks. That isn't enough time to do much more than get a very elementary grasp for grading those coins. While Jeffersons haven't been searched as thoroughly as Franklins, the high value dates have almost certainly attracted attention, so the odds of finding a gradeable coin that will net out positive after fees is small.

I don't know what grade would be needed to break even, but check Teletrade and/or Heritage and then look at the pop reports for that grade. I'm guessing the odds are going to be less than 1-in-1000 of getting a coin in a grade that pays for a novice. Most piles of coins in dealer stock have been picked through for the high value grades, often multiple times, often by graders that are a hundred times more experienced than you.

If after a year, or a couple of years of dedicated searching and finding the best coins, you think there are some coins worth submitting the answer might be different. For now, my thinking is that grading is mostly going to be expensive and disappointing, though you will learn some from the exercise. However, that money and time could likely be spent better. When you get much better at grading the coins, after having examined many certified examples, after having talked to some other Jefferson experts and showed your coins, then the grading game might have better odds for you. For now, it would mostly be a drain.

Bayard1908

I suggest you get a few coins graded. If nothing else, it will give you feedback on your grading skills. You might become the next Mad Marty.

MarkInDavis

I would get a few graded. It will provide you with some good feedback that could be quite helpful for future purchases. You'll know if your perceptions of the grade matches PCGS's.

Cameonut

Grading is part of your numismatic education. Get a few graded so you can learn the difference between "just made Cameo" vs "solid cameo". Same for Deep cameos. If you learn from this "tuition" you will find it easier to decide how much of a premium to pay for raw cameos that are still out in the marketplace.

Before you send anything in, determine what you think the grade is, then see if PCGS agrees. As you learn about grading, you will find the money well spent.

ModCrewman

Some solid advice here so far. I may have given a little bit of the wrong impression as to my numismatic experience/education. I'd like to think the circulated Jefferson effort was as much about keeping me occupied in the hobby as I "bought the book, before I bought the coin" as is so often advised on the board. While upgrading my circulated Jefferson set I looked at very literally tens of thousands of coins; granted they are circulated modern base coinage, but although I wasn't applying a numeric grade to each coin, I was evaluating its various attributes as to die state, wear, bag marks, luster, etc. I approached "the hunt" as a required prerequisite before graduating to more costly acquisitions. Alongside that venture I've been reading here almost obsessively for over a year, absorbing as much info as possible about the hobby and looking at thousands more coins of an entirely different tier, and have learned a lot from the mistakes of others.

This fall I bought 3 1952 proof sets, all with Superbird quarters, and had 12 of the 15 coins graded, and have sold 13 of the 15 coins. Those who said getting a few graded would be part of the education were certainly correct, I made a 67CAM Dime and Nickel out of those sets, and had one nickel that got a 66 that I'm still surprised didn't make the cameo designation - tuition. I made money on that first grading/selling venture even after all grading fees, selling fees, BluCC photos, etc. and in addition got to add a beautiful PR66 Superbird to my collection for "free".

As recommended above I did make note of my expected grades vs the PCGS grades and was only off more than a point on the Cents which all came back at 65RD (lost money on all 3 of those), and I do think I learned several good lessons from the experience.

I guess my point is, I'm relatively confident in my "eye" at this point, and the input I'm looking for is more about balancing assembling a collection for my own enjoyment with making a few bucks from some quality finds to subsidize my purchases. And I suppose I just need to recognize that no one else can answer that question for me.

tjc2120

I would keep my high quality finds (and not need to have them graded)- up to a point. If they could bring real money, I would go for it and parlay them for additional acquisitions.

This is all hypothetical for me. I have never done this with anything but bullion.