Cracking coins out of slabs because, well, I just hate slabs
Coinbot
Posts: 55
Hi everyone, I have a coin collecting dillema that I just can't make my own mind on. I really don't like having my coins in slabs (but I won't buy them without being graded). I like the "feel" of coins in 2x2 paper flips (or airtights) much better than slabs. I also like the fact that I can keep my collection nice and neat uniform and compact.
I realize that by breaking the coins out of the slabs I am instantly losing value, by at least the cost of getting them regraded anyway... However, with grade inflation and changes in the quality and counterfeit resistance of holders wouldn't I just end up sending them all in 20 years from now anyways? I do see lots of coins for sale in the latest gen holders.
My plan would be to keep the original paper insert and glue it to the 2x2's or something like that. Or at least just keep them all as "receipts" and write the grade and TPG on the 2x2's as well as CAC etc.
Is this crazy?
I realize that by breaking the coins out of the slabs I am instantly losing value, by at least the cost of getting them regraded anyway... However, with grade inflation and changes in the quality and counterfeit resistance of holders wouldn't I just end up sending them all in 20 years from now anyways? I do see lots of coins for sale in the latest gen holders.
My plan would be to keep the original paper insert and glue it to the 2x2's or something like that. Or at least just keep them all as "receipts" and write the grade and TPG on the 2x2's as well as CAC etc.
Is this crazy?
0
Comments
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.looking at alot of my raw purchases...buying slabbed one's puts you ahead of me for the most part
but no
you're not krazy...alot of 7070's are filled that way
you like quality without the mess or guess
There are actually several reasons why I choose not to have my coins entombed in slabs. Some of these reasons include:
My collection was begun, and many of my coins were purchased, before the advent of slabs
in 1986. In that time frame, my grading standards have not changed.
If a coin is in a slab, or holder, it cannot be properly studied.
If a coin is in a slab, or holder, it cannot be weighed.
If a coin is in a slab, or holder, the specific gravity cannot be measured, to aid in determining
authenticity.
If a coin is in a slab, or holder, it’s diameter cannot be measured.
If a coin is in a slab, or holder, one cannot count the reeds.
If a coin is in a slab, or holder, one cannot properly photograph the coin.
I do not need to rely on another’s opinion to determine the grade of my coins.
I would certainly not want to rely on any third party grading service to properly attribute my
coins.
For some of my coins, but certainly not all, I also retain the insert from the old slab, merely for my own reference. As you correctly suggested, when and if I do decide to sell, perhaps many or most will be submitted for slabbing and grading .... at whatever grading standard is current for that day. Meanwhile, I can enjoy and study my coins.
And glue the paper label right over the face too with ACC super glue.
I guess you could save the labels for your own knowledge, but you show up
with a coin in one hand and a label in the other, and quess how far you will get????????
Lol! maybe it is! Perhaps that is the reason for my "gut" feeling... I love this board.
One thing to keep in mind, that thread title will probably not be too popular with the board's hosts.
and it sets us apart from practitioners and consultants. Gregor
If I collected coins in certified grades like MS66, 67, 68, or PR68, 69, 70, I would probably leave them in the nice holder rather than risk changing the grade
Liberty: Parent of Science & Industry
type2,CCHunter.
I have My registry set and I have my Raw and crackout quarters in an 2 old Wayte Raymond books.
The books are still a work in progress but I am close to filling them with MS-65 or better.
I have more fun looking at My books. So My answer would be to crack away!
edited to say i wouldn't crack out anything expensive!
True, but after looking at 50 coins or so, wouldnt the potential buyer (assuming he knows coins) start to realize that I was being honest? But in general yes I agree -- the coins would need to be regraded before selling. Or I could do like some coin dealers and mark each coin a grade higher (since I know the real grade) and then haggle with them from there. If they accuse me of overgrading I can always just compare my raw coins to one of their raw coins and then tell them "grading is subjective."
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
Is this crazy?
If you enjoy it, and no one is harmed, it is as rational as anything else in this hobby.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I do keep the tickets though.
crack away
"Seu cabra da peste,
"Sou Mangueira......."
I fully understand that I will lose the value of the cost to re-grade the coins and would likely have to have them regraded come selling time. So really we are talking about that cost and the risk some coins come back with a lower grade...
Another thought - I wish the grading services would use an expanded system like MS 63.8 or .63.1 etc for MS coins. Seems like they needlessly created competition from CAC.
<< <i>Is there any disadvantage to storing coins in 2x2's over the slabs? Assuming that the storage area itself is dry and safe? >>
Just be sure that the 2x2s that you are using do not contain PVC (most don't, but some do), and beware of staples!!!
<< <i>Another thought - I wish the grading services would use an expanded system like MS 63.8 or .63.1 etc for MS coins. Seems like they needlessly created competition from CAC. >>
Now THAT is another topic altogether!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
<< <i>Hi everyone, I have a coin collecting dillema that I just can't make my own mind on. I really don't like having my coins in slabs (but I won't buy them without being graded). I like the "feel" of coins in 2x2 paper flips (or airtights) much better than slabs. I also like the fact that I can keep my collection nice and neat uniform and compact.
I realize that by breaking the coins out of the slabs I am instantly losing value, by at least the cost of getting them regraded anyway... However, with grade inflation and changes in the quality and counterfeit resistance of holders wouldn't I just end up sending them all in 20 years from now anyways? I do see lots of coins for sale in the latest gen holders.
My plan would be to keep the original paper insert and glue it to the 2x2's or something like that. Or at least just keep them all as "receipts" and write the grade and TPG on the 2x2's as well as CAC etc.
Is this crazy? >>
Good Luck on getting your coins regraded at the grade for which you purchased them. You are not the fisrt Coin Slab Don Quixote and I'm sure you'll not be the last to learn the hard way. Coins are slabbed for a reason. That reason is the assurance that if the coin is not accurately graded then you can use the buy back guarantee.
Once you crack the coin out though, paper slip or not, all bets are off and it may take more than one submission to get it back into its original graded holder. It could be a very expensive position.
The name is LEE!
<< <i>I like to do the opposite, I buy raw coins, study them and admire them, then I send them off for grading if they are worth getting slabbed. My reason is the slab protects them and gives future buyers reassurance. >>
+1
This is the best response yet, but it really depends on what you collect. I understand cracking old circulated coins, but I can't crack out any pcgs ms67 washingtons... They are tough enough to make, so it would be crazy unless the coin had a chance to upgrade? If you plan to never sell your coins it makes sense to keep them raw, but then after you are gone the coins are left raw to your family, which I'm sure doesn't know what to do with them to get the best value for them.
<< <i>Is this the 50 market crash that you were alluding to?
Perhaps it is since once the coins are cracked, they immediately lose value not to mention adding authenticity questionability to each piece.
Is it crazy?
Some folks don't want to believe that shooting yourself in the foot is crazy but my common sense tells me otherwise.
The name is LEE!
I respect your feelings on wanted them not in slabs though as that is personal preference. But I just think it is a scary.
<< <i>Hi everyone, I have a coin collecting dillema that I just can't make my own mind on. I really don't like having my coins in slabs (but I won't buy them without being graded). I like the "feel" of coins in 2x2 paper flips (or airtights) much better than slabs. I also like the fact that I can keep my collection nice and neat uniform and compact.
I realize that by breaking the coins out of the slabs I am instantly losing value, by at least the cost of getting them regraded anyway... However, with grade inflation and changes in the quality and counterfeit resistance of holders wouldn't I just end up sending them all in 20 years from now anyways? I do see lots of coins for sale in the latest gen holders.
My plan would be to keep the original paper insert and glue it to the 2x2's or something like that. Or at least just keep them all as "receipts" and write the grade and TPG on the 2x2's as well as CAC etc.
Is this crazy? >>
Yup it is IMO. Dealers just love collectors like you.
On second thought, how many coins do you have? Even at less than $100 apiece, this could become an expensive mistake pretty quickly.
I think you're crazy.
As others have said, keeping the label won't make much difference once the coin is out of the slab.
You assume you're going to keep every coin you currently own for 20 years...I seriously doubt you will. And when the time does come to sell, having your coins slabbed by PCGS or NGC will help you get more money for them.
Meantime, they would be a lot better protected in the slab than in 2x2.
Slabs really don't take up that much room.
I wouldn't have a raw coin in my collection valued more than about $50.
<< <i>Is this crazy? >>
"To each their own." But I think another famous saying may apply
"A fool and his money are soon parted"
On a good note the stockholders of the TPG's are salvating at the new revenue you represent when you need to send in X number of coins for regrade sometime down the road.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
type2,CCHunter.
Anyone else remember $500 MS65 common date Morgans back in the 80's?
100% Positive BST transactions
<< <i>This is all great advice. Thanks everyone. Any tips on storing/organizing slabbed coins that makes it more fun and uniform? >>
Yes, have all of your coins in PCGS slabs and slab boxes with CAC stickers.
+1
<< <i>This is all great advice. Thanks everyone. Any tips on storing/organizing slabbed coins that makes it more fun and uniform? >>
How I did one of my sets....
Empty slots were coins stored in my SDB at the Credit Union.
I advised him to leave them in the slab, but he likes them in the hole.
<< <i>I realize that by breaking the coins out of the slabs I am instantly losing value, by at least the cost of getting them regraded anyway... However, with grade inflation and changes in the quality and counterfeit resistance of holders wouldn't I just end up sending them all in 20 years from now anyways? I do see lots of coins for sale in the latest gen holders. >>
You should watch out for grade deflation. If you crack out a gradeflated coin, you might not be able to get that grade again.
Also some collectors tend to perfer older stabs like OGHs which are used an indicator for the stability of a coin.
weren't they close to that within the last year for a short time, maybe $300??
Just remember if you crack then to keep them safe from physical damage, like dropping them, and safe from environmental damage, like storing them in Taco Bell napkins.
Also realize that slabs are usually an easier sell, because there are more plastic dependent weenies than there are real collectors out there.
As to authenticity, if anything, slabs are a negative. Obviously raw coins can be authenticated, as otherwise slabbed coins could not have an authenticity guarantee. And, for the most part, even considering recent developments, it doesn't take much study to be able to be confidant in at least 99% of what you may encounter (there are exceptions, but with study you'll realize what they are). Think of all the threads of people asking if something is real or not. If slabs were needed, all of those threads would be answered "I don't know" for any raw coin. Plus, once in a slab, a coin can no longer be comprehensively studied, as Barndog noted earlier.
With regards to grading, well, let's be honest. The current number of grades we have (even before pluses were introduced) implies more precision than is possible for most collectors (if not all), implies that grading is a metric and a well-defined scale, is ultimately unsustainable, and readily leads to pseudo-scientific interpretations as to what grades are. And the grade/price continuum is also unsustainable; a lot of high grade coins, classic and modern, are not truly condition rarities, but just statistical noise that happened to be categorized differently than other nearly identical coins. And, given time, whether slabbed or raw, such coins will drop in value. Plus, there is the issue that we should really consider that the value of a coin is constant irregardless of what type of holder it is in, and thus, any "slab premium" is nothing more than an overpayment.
And I live up to "raw is good." I have cracked out, with only a couple of exceptions, any coins I have purchased that happened to be in slabs. This includes items which have been nearly the most expensive I have purchased. The few exceptions have been certain error coins, purchased already in slabs, which I consider may be fragile enough to be in a hard plastic holder, and that it'd be safer, if they are in such, to keep them in one rather than transferring them to a different hard plastic holder. And, when purchased raw, there are other such holders other than slabs, and of course, plenty cheaper.
Ed. S.
(EJS)
Just to add - a few years ago, I showed a high end (read $$) coin in a PCGS slab to a veteran dealer who I like and respect, and who has a solid reputation in the hobby. When he took the coin from my hand, he immediately dropped it on the concrete floor (we were at a convention in Baltimore). It was an accident that can happen to anybody. Since that drop was from about 5 feet, I'm pretty sure that coin would have been damaged pretty badly if it were not in the PCGS holder. A 2x2 certainly would not have protected it.
<< <i>Is there any disadvantage to storing coins in 2x2's over the slabs? Assuming that the storage area itself is dry and safe?
I fully understand that I will lose the value of the cost to re-grade the coins and would likely have to have them regraded come selling time. So really we are talking about that cost and the risk some coins come back with a lower grade...
>>
Some might come back in a bodybag. Suggestion - If you don't want to deal with slabs, stick with inexpensive raw coins that you like. The idea of intentionally pi**ing money away makes no sense whatsoever, unless it's money that you won't miss.
"Seu cabra da peste,
"Sou Mangueira......."