<< <i>I remember this thread. And I'm still in the slab camp for reasons I have stated.
I just don't understand this whole "I need to handle the coin and feel it in my hands".
Why would I want to take than chance of dropping the coin or getting a finger print on it or some forgien matter that would drop it's value!
I can look at my coins in slabs just fine and they are SAFE!
I not saying raw coins are no good. I buy them all the time....BUT...then I get them slabbed. >>
Pfft. Coins have been collected for thousands of years without plastic. Did they all make it to present day in their condition by some giant coincidental miracle? Or maybe, gasp, collectors that knew how to handle coins owned them. I prefer raw. Slabbed for sale, but raw to own.
<< <i>I remember this thread. And I'm still in the slab camp for reasons I have stated.
I just don't understand this whole "I need to handle the coin and feel it in my hands".
Why would I want to take than chance of dropping the coin or getting a finger print on it or some forgien matter that would drop it's value!
I can look at my coins in slabs just fine and they are SAFE!
I not saying raw coins are no good. I buy them all the time....BUT...then I get them slabbed. >>
Pfft. Coins have been collected for thousands of years without plastic. Did they all make it to present day in their condition by some giant coincidental miracle? Or maybe, gasp, collectors that knew how to handle coins owned them. I prefer raw. Slabbed for sale, but raw to own. >>
I have butterfingers, so I for one am glad that there are slabs
They are your coins-do what you want with them. I would not break out any coin graded au 58 as this is a coveted everyman registry set grade. You have to get it to cross to PCGS however. I knew an old guy once who cleaned every copper coin he got-half cents and large cent and I mean he cleaned them so much they looked just awful-he ruined a lot of good coins. When I asked him why he ruined much of their value he said-"They are my coins I will do with them as I please." Just imagine if every collector thought like this-all collector coins would now be ruined.
I hate slabs too--but I have quite a few that I will not break out. I collected liberty seated and bust half dollars before slabs became popular and have NO bust or liberty seated half dollars in slabs--some of my other seated coins--especially dimes are in slabs as I acquired these later.
crack away and enjoy them raw, but be prepared to either get lowballed or have to send them in for certification to get the best price. This is just the way it is.
I used to crack out coins like there was no tomorrow to place them in 3 X 3 Capital holders for my collection. I haven't done that so much lately because Capital has long since discontinued their #145 and #146 deluxe holders, and it's getting rather difficult to find dealers with new old stock #145 Capital holders anymore.
Here's a few tags, I have tons, both services and even a few older ICG ones.
Slabs serve their purpose - To me there's a peace of mind from having an expert verify the authenticity of a rare piece that is often counterfeited by our Chinese brethren. I prefer peace of mind over angst and uncertainty myself.
That being said, if someone wants to crack out their coins, that's the privilege of ownership and a personal decision that has to be made in the face of knowing the potential negative financial consequences of doing so. From an existentialist point of view however, everything we do is dust in the wind anyhow so if a collection of raw coins pleases you, by all means do your thing - rich or poor, you won't be taking your coins with you to the great beyond.
Overall I am very happy with the advent of third party grading. I earn a very nice dividend from my Collectors Universe shares....
Slabs are necessary tools to maximize the fungibility of coins online. However, I don't really want my collection to be that liquid. I'd prefer that not be the focus of my collecting.
Developing theory is what we are meant to do as academic researchers and it sets us apart from practitioners and consultants. Gregor
I have never cracked out a coin, but the temptation is strong.
Since I'm an amateur:
I would never crack a proof coin I would never crack a 70 modern I would never crack a 63 or better Morgan (or any Morgan if it is nicely toned)
Few have alluded to this: I like touching the coins. (Why does this sound so... tawdry? ) So I do have quite a few raw coins, but not very many of them are 'primo collectible'.
One thing is for sure: In an 'estate' situation, the slabbed coins are far easier for the beneficiaries to deal with. And probably will result in a more efficient transfer of an inheritance.
Final point: They are YOUR coins. Enjoy them the way you like. That is the whole point, is it not?
- AKFlyer
All of my coins are secure in a bank safe-deposit box.
My advice for this particular case: Don't crack the coins. You're lucky if even a few are lifetime keepers. The rest will be sold soon enough, and - despite your hopes that you can lure buyers into paying the next grade for some of the coins - you'll probably get more money overall if you leave the coins in their slabs.
My advice for the collector that doesn't care about resale value: Do what you please. And I'm jealous, because I'd love to do the same.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
You really got it all wrong, PCGS basically saved the day and thus the hobby with their slabs.
PCGS hardly saved the hobby, but they did a lot to get people to spend unimaginably more for coins than would have otherwise been possible. Works for me. Hope it works for you too.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Once you crack the coin from the slab its certificate is worthless. If you think I am joking just try and sell one raw and get all the money. I don't care if you have its cert or not. It is not sellable (at all the money) to my customers in a 2x2 flip. Its your money, your hobby but perhaps there is a better alternative.
I can sort of understand people doing this with problem coins to fill a hole in their album but someone taking a quality investment graded coin and cracking it (without some strategy to resubmit it for a higher grade for instanc) reminds me of what a close friend did in blowing out his inventory to date strippers.
Why not get an NGC storage box (it holds PCGS, NGC, ICG, the large ANACS holders), label it, and put your slabs in the order you desire there? That way you can organize the coins how you want and designate each storage box accordingly. Why feed money to the album people or the registry jazz. That way you can do you own thing and enjoy your coins without destroying their liquidity.
Best of luck getting top dollar when you or your heirs try to sell the coins that are no longer slabbed...
You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
To Coinbot: I do the same thing. I started collecting before the hobby married plastic. Like Benjamin, if I wanted to surround myself in plastic, I would have gone into my father's invented industry: fiberglass. I think slabs ruin the hobby and encourage fraudulent activities.
<< <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.
<< <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. >>
<< <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. >>
If the coin won't regrade for the same grade, what credibility do the grading services have in the first place? There is far too much incompetence and subjectivity at the grading services.
<< <i>What kinda coins are we talking here? Personally I think it is foolish from a value/monetary sense. You made the coins less liquid. Sure you can get them regraded if you choose to sell but what if something unexpected happened and your heirs are left with your collection? Lastly, I suspect there could be some surprises regarding regrading. Once gain, I don't know what coins you have but obviously there can be huge price differences from one grade to another. You may also have already paid up when you bought the coin certified and then you take it right back to raw value when cracking it.
I respect your feelings on wanted them not in slabs though as that is personal preference. But I just think it is a scary. >>
Then why do many "collectors/dealers" crack them out hoping for an upgrade?
<< <i>You're not crazy at all. Frankly, coin collecting by definition is not primarily concerned with the monetary value of coins (except when purchased). Any desire for a slab is just a social construction, and any claims to necessity are lacking in being consistent with the actual history of numismatics. Slabs are also only considered "good" so long as slabbing companies exist, and some of us are going to outlast them, and thus any guarantees they offer.
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. >>
<< <i>I used to hate slabs too, but then I saw how the market worked, and realized I had to "get with the program."
Cracking coins out of slabs is what an economics professor I had in undergraduate school called "a consumption act." Unless you are cracking a coin out for the purpose of an upgrade, it makes no sense unless you are willing to accept the incurred costs. Yes, cracking coins out for study as MrHalfDime pointed out is nice. BUT slabs do provide protection better than any envelope. Before sabs I stored my best coins in custom made Capital Plastics holders, which were like slabs in some ways. The main difference was I could open it, but once the coins were in them I seldom did. The Capital Plastics holders were also very hard to use with small, thin coins like gold dollars and silver three cent pieces. Therefore from that sense slabs offer an advantage.
I had all the money in the world I would break out a few of my coins, but I�m not in that position so my coins will remain �entombed.� >>
Bill: How about when the program changes? Inflationary, money making schemes like "CAC" just come and go in numismatics constantly. Fly by night slabbing companies, then there is the king of the graders, PCGS, then they're not good enough, so they create a new slab called CAC, and it never ends. Whenever the economy trashes, or the coin values tank, the intelligencia come up with programs to disparage certain out of favor coins or grading companies, to the entitlement of others. The hobby was really better when it was primarily a hobby.
Comments
<< <i>I remember this thread.
I just don't understand this whole "I need to handle the coin and feel it in my hands".
Why would I want to take than chance of dropping the coin or getting a finger print on it or some forgien matter that would drop it's value!
I can look at my coins in slabs just fine and they are SAFE!
I not saying raw coins are no good. I buy them all the time....BUT...then I get them slabbed.
Pfft. Coins have been collected for thousands of years without plastic. Did they all make it to present day in their condition by some giant coincidental miracle? Or maybe, gasp, collectors that knew how to handle coins owned them. I prefer raw. Slabbed for sale, but raw to own.
<< <i>
<< <i>I remember this thread.
I just don't understand this whole "I need to handle the coin and feel it in my hands".
Why would I want to take than chance of dropping the coin or getting a finger print on it or some forgien matter that would drop it's value!
I can look at my coins in slabs just fine and they are SAFE!
I not saying raw coins are no good. I buy them all the time....BUT...then I get them slabbed.
Pfft. Coins have been collected for thousands of years without plastic. Did they all make it to present day in their condition by some giant coincidental miracle? Or maybe, gasp, collectors that knew how to handle coins owned them. I prefer raw. Slabbed for sale, but raw to own. >>
I have butterfingers, so I for one am glad that there are slabs
I hate slabs too--but I have quite a few that I will not break out. I collected liberty seated and bust half dollars before slabs became popular and have NO bust or liberty seated half dollars in slabs--some of my other seated coins--especially dimes are in slabs as I acquired these later.
Bob
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
<< <i>I wonder if the OP decided to crack the coins out of the slabs. Me personally I wouldn't. >>
Me either it is not always possible to get them back into slabs, and the next owners of my collection know very little about coins.
Here's a few tags, I have tons, both services and even a few older ICG ones.
That being said, if someone wants to crack out their coins, that's the privilege of ownership and a personal decision that has to be made in the face of knowing the potential negative financial consequences of doing so. From an existentialist point of view however, everything we do is dust in the wind anyhow so if a collection of raw coins pleases you, by all means do your thing - rich or poor, you won't be taking your coins with you to the great beyond.
Overall I am very happy with the advent of third party grading. I earn a very nice dividend from my Collectors Universe shares....
Just don't do anything stupid.
<< <i>I crack them out very carefully. So I can put them back in later.
Lance. >>
hahaha. nice
.
and it sets us apart from practitioners and consultants. Gregor
Since I'm an amateur:
I would never crack a proof coin
I would never crack a 70 modern
I would never crack a 63 or better Morgan (or any Morgan if it is nicely toned)
Few have alluded to this: I like touching the coins. (Why does this sound so... tawdry? )
One thing is for sure: In an 'estate' situation, the slabbed coins are far easier for the beneficiaries to deal with. And probably will result in a more efficient transfer of an inheritance.
Final point: They are YOUR coins. Enjoy them the way you like. That is the whole point, is it not?
All of my coins are secure in a bank safe-deposit box.
My advice for the collector that doesn't care about resale value: Do what you please. And I'm jealous, because I'd love to do the same.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
PCGS hardly saved the hobby, but they did a lot to get people to spend unimaginably more for coins than would have otherwise been possible. Works for me. Hope it works for you too.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Coin Rarities Online
I can sort of understand people doing this with problem coins to fill a hole in their album but someone taking a quality investment graded coin and cracking it (without some strategy to resubmit it for a higher grade for instanc) reminds me of what a close friend did in blowing out his inventory to date strippers.
Why not get an NGC storage box (it holds PCGS, NGC, ICG, the large ANACS holders), label it, and put your slabs in the order you desire there? That way you can organize the coins how you want and designate each storage box accordingly. Why feed money to the album people or the registry jazz. That way you can do you own thing and enjoy your coins without destroying their liquidity.
<< <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? >>
Yes, yes my friend, you are crazy.
<< <i>
<< <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. >>
<< <i>
<< <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. >>
If the coin won't regrade for the same grade, what credibility do the grading services have in the first place? There is far too much incompetence and subjectivity at the grading services.
<< <i>What kinda coins are we talking here? Personally I think it is foolish from a value/monetary sense. You made the coins less liquid. Sure you can get them regraded if you choose to sell but what if something unexpected happened and your heirs are left with your collection? Lastly, I suspect there could be some surprises regarding regrading. Once gain, I don't know what coins you have but obviously there can be huge price differences from one grade to another. You may also have already paid up when you bought the coin certified and then you take it right back to raw value when cracking it.
I respect your feelings on wanted them not in slabs though as that is personal preference. But I just think it is a scary. >>
Then why do many "collectors/dealers" crack them out hoping for an upgrade?
<< <i>You're not crazy at all. Frankly, coin collecting by definition is not primarily concerned with the monetary value of coins (except when purchased). Any desire for a slab is just a social construction, and any claims to necessity are lacking in being consistent with the actual history of numismatics. Slabs are also only considered "good" so long as slabbing companies exist, and some of us are going to outlast them, and thus any guarantees they offer.
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. >>
Finally, a voice of reason and Intelligence!
<< <i>I used to hate slabs too, but then I saw how the market worked, and realized I had to "get with the program."
Cracking coins out of slabs is what an economics professor I had in undergraduate school called "a consumption act." Unless you are cracking a coin out for the purpose of an upgrade, it makes no sense unless you are willing to accept the incurred costs. Yes, cracking coins out for study as MrHalfDime pointed out is nice. BUT slabs do provide protection better than any envelope. Before sabs I stored my best coins in custom made Capital Plastics holders, which were like slabs in some ways. The main difference was I could open it, but once the coins were in them I seldom did. The Capital Plastics holders were also very hard to use with small, thin coins like gold dollars and silver three cent pieces. Therefore from that sense slabs offer an advantage.
I had all the money in the world I would break out a few of my coins, but I�m not in that position so my coins will remain �entombed.� >>
Bill: How about when the program changes? Inflationary, money making schemes like "CAC" just come and go in numismatics constantly. Fly by night slabbing companies, then there is the king of the graders, PCGS, then they're not good enough, so they create a new slab called CAC, and it never ends. Whenever the economy trashes, or the coin values tank, the intelligencia come up with programs to disparage certain out of favor coins or grading companies, to the entitlement of others. The hobby was really better when it was primarily a hobby.