Genuine Holdered coins - am I wrong?

Rollerman

A discussion started in another thread, I came in late with the comments below and wondered what the forum thought about my reflections. So here it is again if you'd be so kind enough to comment.

I recently purchased my most expensive single coin to complete a year set of CBH's. It is, the 1815/2 of course. It is in a PCGS Genuine holder, but appears to grade XF40 or perhaps a bit better (I don't have the coin yet, just going from the pictures). I can't see where the coin has been cleaned (but that's why it's in a "Genuine" holder).
This option to me was better than either never having that coin OR having one that grades way less than the rest of the set.
I figure I saved about 30%, and have a coin that isn't counterfeit, and it may grade if I were to resubmit (something I'm not likely to do, since I think it's kind of a racket). I thought about submitting it to another TPG service, but will likely leave it as is. (To me a PCGS Genuine coin seems more valuable than another TPG's graded holder and certainly more so than raw). The rest of my set is raw (some of which I cracked out of graded holders). Was I dumb to buy this coin?

I also have an AU 1908 $5 gold piece in a Genuine holder, it's a nice piece (surfaces) and only set me back a touch over gold money. What my kids get for it after I'm gone, I could care less.
Is my thinking on this goofed up??
Pete

RYK

Is my thinking on this goofed up??

If you are satisfied with the coins, anyone who tells you that you are "goofed up" is the one that is actually "goofed up".

Outhaul

SPOT ON!

As I stated in that thread, PCGS "Genuine" coins
hold a very important place in the hobby.

Cheers,

Bob

Baley

crack it out, and carry it in your leather coin purse for a few months. Never wash your hands after your greasy lunch, but always count your change in your purse.
carry the purse in your pants pocket, smoke a cigar once in a while, eat a lot of eggs and garlic and onions, and visit the local paper mill once in a while.

coin will go from cleaned to original in no time!

morgandollar1878

There is nothing wrong with it. The most important part is that you were happy with the purchase. Yout thinking would only be "goofed up" if you bought it because you did not like it.

RedTiger

There is no right or wrong answer. This is a hobby. You might have overpaid or gotten a good deal on the rare coin, but a judgement of right or wrong doesn't enter into the picture.

As always, collect what you like (and can afford) and enjoy the hobby. Don't worry about what others think. There are many collectors that don't want coins in genuine holders for their collection--that's fine, that's their decision. If you found a coin you like, at a price you like (hopefully after looking at lots and lots of coins and doing some research), that's all that matters.

okracer

I think gennies are fine....especially old coppers, and nice looking coins that fit your collection.

The guy that said, in the other thread, they "have never stooped" to buy a genny.....that came across as insulting (or at least elitist)......

lkeigwin

PCGS's opinion is that it was cleaned. That opinion might be wrong. And they might feel differently about the coin if they looked at it again.

When the coin arrives you will know whether you like it or not. If you do, think nothing more about PCGS's opinion on the day they looked at it. It's the real deal and very cool to have the tough year for your set.

Since your set is raw I would crack-out that 15/2 and place it in the album alongside its peers. If it were given a no-problem grade I might think twice before doing that. But in this case I see no downside. Getting it back in a genuine holder will never be a problem, should that be important some day.
Lance.

fcloud

Collect what you like not what someone thinks you should collect. You are not wrong if collect what you want to collect. Enjoy your coin knowing it is not counterfiet.

MarkInDavis

The range of cleaned genuine coins run the gamut. It goes from whizzed to severely hairlined to market acceptable to "Where is the evidence of cleaning on this one?". Coins at that end of the spectrum can be very nice an reasonably priced. Of course, it is nice to view genuine coins in hand since pictures can hide a lot. If you are happy with the coin after having it in hand, then you made a good purchase. Can you be 100% sure none of your raw coins would go genuine if graded?

TomB

I don't know if the larger market would agree that an 1815/2 CBH in a PCGS Genuine holder is worth more than the same coin in a competitior's problem-free TPG holder. Regardless, an EF40 at 30% off is still a chunk of change.

lordmarcovan

What RYK said, in post #2.

shorecoll

I agree with Lance, I would crack it, put in your album or in a coin envelope and leave it for a few years. This is depending on how it looks in hand. If you decide you don't like it...list it on the BST and we'll see how genny coins will sell. That's one I'm missing.

Juan

I like things to be as near perfect as possible and I've found in my premature age that things aren't nearly as perfect as I thought. I had a couple of gold pieces graded by PCGS as genuine and I sold them on Ebay and now I wish I'd kept the coins-after all they were gold. But alas I can't go back. If you like the coins as graded, by all means keep them. In a few years when you decide to sell you'll get your money back plus.

Rollerman

<< <i>The range of cleaned genuine coins run the gamut. It goes from whizzed to severely hairlined to market acceptable to "Where is the evidence of cleaning on this one?". Coins at that end of the spectrum can be very nice an reasonably priced. Of course, it is nice to view genuine coins in hand since pictures can hide a lot. If you are happy with the coin after having it in hand, then you made a good purchase. Can you be 100% sure none of your raw coins would go genuine if graded? >>



I'm 100% sure some of them won't grade because of old cleanings. The coin I have coming looks to be one that most would say is attractive and whatever evidence of a cleaning that's present won't be obvious....at least that's what I hope!
Pete

Rollerman

<< <i>I don't know if the larger market would agree that an 1815/2 CBH in a PCGS Genuine holder is worth more than the same coin in a competitior's problem-free TPG holder. >>



I could easily be out of line with that remark, in fact I'm sure I am. I have coins from both of the top TPG's.
Pete

Teva

One of my favorite coins is in a genuine holder and its been assigned the dreaded 91. There are definitly geniune coins that I would own without hesitation.

Waltz

Although PCGS does not "net grade" (at least in the sense that's it's detailed on the slab) I think the genuine holder preference really depends on what coin it is. I'd prefer EAC to go elsewhere since net grading is a signficant market and seems to be more socially acceptable in it. Other coins (I'm thinking 19th century silver) would stand to benefit from the genuine PCGS holder.

astrorat

As someone who has put together a date set of CBHs, you likely know that many of these coins have been lightly cleaned in the past (cleaning was common in the early part of the last century). Many of these "genuine" halves are in TPG holders because the coin has retoned and the appearance is now market acceptable and thus can be "graded."

If you like the coin and it matches the balance of your set, then that is what really matters. Next time you are at a large show, take it to one of the dealers from the Board or
CBH specialist dealers (e.g. Sheridan Downey) and when they have a free moment, ask for an opinion.

I would not agree with the statement that your 1815/2 half in a PCGS genuine holder (EF grade) is worth more than the same coin in an NGC-40 holder. Despite what we may want to think about our beloved hosts, the genuine holder flags that there is something "wrong" with the coin to most collectors.

You could always just crack out the coin and submit it a few more times to PCGS. It's not like it could get any worse, I don't think PCGS has a "barely genuine" holder!

Lane

hockeyfan9

<< <i>Is my thinking on this goofed up??

If you are satisfied with the coins, anyone who tells you that you are "goofed up" is the one that is actually "goofed up". >>



I have to agree with RYK! He said it best!

kurtdog

When they grade a coin, at least, to me, it means they believe the coin should trade at that grade. Their opinion is that of a 3rd party grader, somewhere in between the understandably optimistic 1st party's grade (that of the typical seller), and the understandably pessimistic 2nd party's grade (that of the typical buyer). When they "Genuine" a coin for something like cleaning, that's simply a market call. It doesn't mean that the coin won't trade, in their opinion. It rather only means that the cleaning is too apparent, or "harsh," or unacceptable, in their opinion, for them to get into the middle with a guarantee on what the coin should trade at. Basically, they're saying, leave that up to the market, they want no part in it.

Hey, FWIW...