The Cheap Slab Store - What niche do they fill??

Goldbully

A few years ago I bought 50 PCGS MS 1963 Dimes....but have not bought another coin again.

What say you about their business model?

CheapSlab Link

noow

In my opinion the CCS is one of the best coin sites on the web. Most of the coins that they have on sale are below FMV although they could do a little better pricing the problem coins. #1 customer service and website design. What is uncommon with this website is that the "Search" feature actually WORKS!

RYK

For me, it serves no purpose whatsoever. I never look there and will never buy anything there.

Edscoin

Not as Cheap as they once were.

stealer

Most definitely not somewhere I would ever buy from just because the material they carry is not what I collect.

Maybe for a new collector looking for cheap plastic?

Timbuk3

If I can remember correctly, some years ago I purchased
about 100+ 1961-1964 Jeffersons, graded PCGS Proof
66-68 for a few $'s each. Delivery was prompted and
items were very good.

Moldnut

I have used them for common date Indians and I was pleased. Way under what the other dealers would charge too.

TexasNationals

I always wondered where the bags of junk I sent to Covina and AZ coin and jewelry went!

Broadstruck

Great site to cherry pick from... Once bought a $1250 mint error off them for $50

BBN

<< <i>Great site to cherry pick from... Once bought a $1250 mint error off them for $50 >>



What I'm thinking. They seem to fit an area of collectors that have a good eye even for pics that can cheery pick. Probably not their intention but this is one area they fit. Another could be they're a good place for casual collectors to fill albums with coins that are genuine.

BBN

There's a bust half dime in a PCI slabbed MS64. If you could cross that over that would be a nice payday. At the worst, it could grade 62 at PCGS and be valued the same as the numismedia value for an MS62

*edit, even worse, come back gennied

seanq

I haven't bought from them in years but he was one of the few pre-eBay explosion dealers to have any significant inventory of clipped planchet errors. Among other coins, my clipped 1946-S/D Lincoln cent came from him.

As far as his business model, I think of him as an entry level retailer for someone who might be moving from collecting raw coins to certified coins - in other words, someone taking baby steps toward becoming a more serious collector. Now as for how successful it is, I know that your post go tme to look around his site, and some of those clips have been in his inventory for a looooooong time.


Sean Reynolds

WaterSport

Its been said here already, he is not as cheap as he use to be. He mostly sold junkers, and now, he has a large high end inventory. BUT having said that, the couple of coins I bought over the years, were very satisfactory transactions.

WS

Baley

It's where I get all my Plastic Slabs that are worth more than the coin they contain

WestySteve

Tough crowd!

I bought a few pieces from there so that I could have examples of different MS-graded nickels. I use them to help me ballpark grade my predominantly raw UNC nickel collection. Better than photograde, IMHO.

Steve

RedTiger

The niche seems rather obvious, collectors wanting to buy "cheap" slabs. Prices look to be middle of the road retail pricing. They carry more slabbed coins under $50 than most other dealers. From some of the other comments it looks like they keep inventory for a long time. That might mean a sizeable retail-to-wholesale price mark up (they get their inventory for very little money), or the endeavor is more of a hobby than an ongoing business.

Whatever the case, they have been in business for a long time, seem to accurately represent the coins they sell, and their terms, so I see no red flags. That said, I didn't see anything that would interest me after about 15 minutes at their site. I remember scanning their site years ago, and didn't see much then either.

GrumpyEd

Let's say you do a set and buy all the keys at some grade but not the highest grade. Now you decide to fill in the set with the common dates in that same grade (not highest) and they cost more to slab then you can buy them for. I think it's an outlet for grading mistakes, like coins worth less than the slab in below 65 that come back as 64. You can buy that 64 for less than slabbing one yourself.

That's the niche I see and the reason I bought some coins from them.

coinpictures

As others have said, not as cheap as he used to be.

Horrible pictures as well, usually only front of slab. Has had same half-cent inventory for about 2 years now, virtually all problem coins in problem holders, but priced at full no-problem retail.

Pass.

CyStater

<< <i>As others have said, not as cheap as he used to be.

Horrible pictures as well, usually only front of slab. Has had same half-cent inventory for about 2 years now, virtually all problem coins in problem holders, but priced at full no-problem retail.

Pass. >>



Agree on the pics. I learned the hard way. The ugliest Washie I own came from that site. Looked like a nice coin in the pic. When I received it, it was way, way darker-toned than the photo showed.

Years ago I picked up a couple dozen generic 63 Morgan and Peace dollars at a good price and shipping was quick.

I check the site once in a while but haven't bought in a long time as I haven't seen any real "bargains" on there for quite some time and I'm gun-shy since I bought that quarter .

500Bay

A little off topic here - looking at the half cents on the site they are mostly ICG, but in a holder I do not recognize. When did ICG give up the green background on their slab?

seanq

<< <i>As others have said, not as cheap as he used to be.

Horrible pictures as well, usually only front of slab. Has had same half-cent inventory for about 2 years now, virtually all problem coins in problem holders, but priced at full no-problem retail.

Pass. >>




I have negotiated him down on his higher priced material, so don't be afraid to shoot an offer if you think something is overpriced. Most of the really cheap stuff wouldn't seem to have much room for negotiation.


Sean Reynolds

ricko

Just another individual making a living.... like all the others, some praise, some criticize... ah, never mind. Cheers, RickO

coinpictures

<< <i>Just another individual making a living.... like all the others, some praise, some criticize... ah, never mind. Cheers, RickO >>



Yer even crankier than usual today.

Last time I checked, we critique vendors, dealers, and eBay sellers all the time here on the board.

Shamika

I too haven't purchased from them in many years. However, the dozen or so coins that I did purchase were excellent and I've sold about half of them for nice profits. Customer service was excellent as well.