Simple question: Why do collectors buy slabbed genuine coins?

Goldbully

I have absolutely no desire to buy a coin that has not been graded by PCGS or NGC......preferably PCGS.
Is there a specialized market for these coins?
Is that any different than a collector buying a BB(Body Bag back in the day) coin?
I look forward to the forum's responses.


Thank you.

messydesk

1. The problem is largely inoffensive, like a borderline old cleaning that is just on the wrong side of the border.
2. It's a key date coin that is just not available or affordable with a problem-free grade and needs authentication
3. It still has sufficient eye-appeal for a Dansco.

AMRC

Some people seem to think they are a deal. Many key dates can be purchased to fill holes in albums for much less that problem free examples.

DeepCoin

While I do not own any Genuine coins by PCGS, I can certainly understand why someone might buy one. Not everyone is of the same means and if you would love to own a Bust Dollar and are not interested in resale value, a cleaned F15 might fit your budget. You can extend this to many other series as well. If you wanted a Gobrecht dollar but have limited funds, it is a choice available to you.

Moldnut

Would you buy a coin in a straight graded PCGS/NGC holder that has been market graded? Sometimes slight problem coins make it in a straight graded holder and sometimes they dont. Ive seen nice coins in genuine holders that I wouldnt mind having.

TwoSides2aCoin

Simple answer : to crack out.
Complex answer: because a genuine coin in a holder is better than a non-genuine coin outside of a holder.

COALPORTER

Most problem free key dates cost too much for the average (wealth) collector,
Most key dates have know fakes. So, at least they know it is real.
I think your title may provide a hint.

jmski52

Beats me!

GeorgeKellogg

I bought this already in the Gennie holder. I couldn't pass it up, as I really liked the coin, even with the small, old, pinscratched "X" on the reverse. A key factor was that the piece was priced very reasonably. The 1855-D is the third rarest Dahlonega half eagle. The bluish-silver area behind Liberty's neck is an Iridium impurity in the alloy, a condition well-documented in the Dahlonega Mint literature.

The ironic thing is that I've seen many graded coins that weren't as attractive as this piece. I've also seen many graded pieces that weren't as original and that had many more scratches than this coin. In the end, I considered the coin good value at the price paid.

BTW, I already owned a PCGS graded 1855-D half eagle, XF40 green label, ex John Pittman.

JustNeedCoins

For high value coins, a buyer know he or she is buying a authentic coin - albeit a compromised coin.

pakasmom

<< <i>Simple answer : to crack out.
Complex answer: because a genuine coin in a holder is better than a non-genuine coin outside of a holder. >>



This. And us poor folk like to fill the holes in our humble little albums...

stealer

<< <i>Would you buy a coin in a straight graded PCGS/NGC holder that has been market graded? >>


The easy answer is no because nobody wants a coin with a compromised grade. However, some may not agree with PCGS/NGC's criteria for net grading for certain series and thus may feel compelled to purchase net graded coins. Even more commonly, people will buy net graded coins without even knowing it thinking that they are getting an undergraded coin.

Mission16

I have bought a few for my 7070 type set. It's a teaching tool some one can see the details of a certain coin. Sometimes it is very expensive to have a problem -free example.

MrEureka

I bought this already in the Gennie holder. I couldn't pass it up, as I really liked the coin...

You bought a coin because you liked it? Surely, you can come up with a better reason than that.

mozin

I don't even look at genuine graded coins from any grading service. I do know of many serious collectors that buy genuine graded PCGS coins that they believe will grade upon another submission. Many times this is exactly what happens. Good for them.

jayPem

Here's my only one.

Like George, I liked it. It's 10x more original than the album toned XF45 it replaced.

BAJJERFAN

Some have been known to come back in a real holder upon resubmission.

Tiny

The only reason I buy them is if they are toned and I like the colors. They have to be
el cheapo too.

coindeuce

"Simple question: Why do collectors buy slabbed genuine coins?"

Simple answer: Because they can.

Bochiman

Do you agree with every grade/genuine label that you see?
I don't.

Maybe someone disagrees with the label and decides the price is worth it.

coinsarefun

It depends.....some rarer coins are only available in Genuine holders.
Other coins are not necessarily genuine or AT.....I have purchased quite a few knowing they were natural.
Other than that......can't think of a reason

kiyote

Why do people buy slabbed genuine coins for INSANE prices? Most of them are from the same dealer. Do an eBay search for PCGS Genuine and sort highest price first. Ya'll know who I'm talking about. BINs higher than a kite!

Lakesammman

There are some coins that are so rare that even a impaired example is desirable. And, since they can be expensive, you would be nuts to not have it authenticated.

hof1998

I have bought some pre-33 gold in Genuine slabs lately for melt value. I like them because I know the coin is real and I don't have to worry about fakes.

mrpotatoheadd

<< <i>Simple question: Why do collectors buy slabbed genuine coins? >>

I would imagine for the same reason collectors buy any coins- they want them.

Fountainhead

I've submitted a number of coins to PCGS that were returned in body bags with the note "Genuine" - but they were cleaned, or had "questionable" color, etc. Can I now send them back to PCGS to get slabbed "Genuine" for the usual reholder fee?

PerryHall

<< <i>1. The problem is largely inoffensive, like a borderline old cleaning that is just on the wrong side of the border. >>



Dealers (especially eBay dealers) will buy rare coins that have a borderline old cleaning (especially key dates in popular series) so they can crack them out and sell them without any mention of any problems. It's highly unethical but it happens too often and this is why top tier slabs are so popular with knowledgeable collectors.

TwoSides2aCoin

This is one of them "No Bean For You" specimens.


a CAC joke.

Broadstruck

<< <i>There are some coins that are so rare that even a impaired example is desirable. >>

Broadstruck

A few years ago when the G.O. program first started I was helping PonyExpress8 out at a show when a wholesaler stopped at his table with some boxes of 20. One G.O. coin was a 1795 Flowing Hair $1 that had been gently cleaned on the reverse only, re-toned, but still brighter then the original gray obverse. It was still very impressive wow coin as it was a UNC details and wouldn't have looked out of place in a NGC MS62 holder. Ask was just under $13K and I still think about it today.

SaorAlba

When I can buy gold coins for bullion purposes at spot because they are in a genuine holder.

TwoSides2aCoin

Let's take a coin as an example.
If submitted and it comes back as "genuine", is it no longer collectible ?

RedTiger

<< <i>Do you agree with every grade/genuine label that you see?
I don't.

Maybe someone disagrees with the label and decides the price is worth it. >>



The above is the concise answer. Especially for older coins, many are at the 80% confidence level, meaning 20% of experts will give it thumbs down. These 80% coins tend to make it into no problem holders, but 20% of collectors think they are questionable and avoid them. Does the op have any 80% or 90% coins? Highly likely. Now move to the 50% and 60% coins, same deal, but a much larger group of collectors tend to avoid these coins in no-problem holders. Does the op have any of these 50% coins? Who knows? Are these 50% that much better than genuine coins with minor problems? They are easier to sell because of the holder, but might not make it on a regrade, and might be shunned by half of the collectors for that series.

The other huge factor is price. Almost every coin will move quickly if priced low enough, genuine, raw, whatever.

RYK

One dealer at the show yesterday had three cases full of mostly NGC details graded seated and Barber type coins. At first, I found this to be offensive. When I looked a little closer, there really was a wide range of quality which clearly ranged from "just miss" or "why on earth is this not acceptable?" to "horrific" and every step in between. Judge the coin, then the plastic.

That said, my own experience with buying and selling no grade coins is that sometimes the holder adds some credibility and even value, and, well, sometimes you cannot put lipstick on a pig and expect to get beauty queen offers. The liquidity of these probably goes down as the price goes up.

Nysoto

Genuine holders will become more important in coming years for early US coins, as counterfeits increase in number and become more deceptive. Raw coins are often posted here asking if genuine, but unless an expert has a coin in hand they cannot determine authenticity with certainty. I have helped to identify and authenticate three new half dollar die varieties (1807 O.115, 1806 O.129, 1806 O.130), and I cannot be sure from an image if a coin is genuine. The 1795-1834 early gold is an area I would not touch without a genuine holder, or authentication with a guarantee from an auction firm or dealer.

Other than authentication, there are borderline coins that others have described that may eventually go into a graded slab, it happens all the time.

Broadstruck

Some G.O.'s are deemed DOA and tombed when they still have a heartbeat... It isn't uncommon for those types to grade the second time through.

Unknown

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Matrix1980

I would not touch them even if the coin was a 1/1 just can't bring my self to do so!!!

Rollerman

I have only one Genuine graded coin, the 1815/2 key. If not for a small spot where someone cleaned something off the reverse, this coin is an EF. I saved 2K in buying this coin, and like it much better than a VG or F AND I know it's not a fake. Since I stated I only have one, you know that I don't make a habit of buying these Genuine coins, but this one fills the bill for me.
Pete

LindeDad

<< <i>There are some coins that are so rare that even a impaired example is desirable. And, since they can be expensive, you would be nuts to not have it authenticated. >>



And will add that most collectors are NUTS to buy the cheap common ones.

GeorgeKellogg

<< <i>One dealer at the show yesterday had three cases full of mostly NGC details graded seated and Barber type coins. At first, I found this to be offensive. When I looked a little closer, there really was a wide range of quality which clearly ranged from "just miss" or "why on earth is this not acceptable?" to "horrific" and every step in between. Judge the coin, then the plastic.

That said, my own experience with buying and selling no grade coins is that sometimes the holder adds some credibility and even value, and, well, sometimes you cannot put lipstick on a pig and expect to get beauty queen offers. The liquidity of these probably goes down as the price goes up. >>



I think RYK is spot-on. I don't exclude Gennie coins, but evaluate them just as I would any other coin. It all boils down to whether or not you like the piece and whether or not it is good value for the price paid. Having said that, I only have a couple of non-gradable coins.

Non-gradable coins can sometimes even be a good investment. As a case in point, in 1982 I bought an 1851-D gold dollar, that had once been a jewelry piece, for $200. Upon close examination, one could clearly see that the reeded edge had been tooled, where a loop had formerly been. I eventually sold the piece to a dealer, in a red PCI holder, about 20 years later, for $850. That's not a bad return on investment (about 7.5% per year, compounded annually).

Elcontador

<< <i>While I do not own any Genuine coins by PCGS, I can certainly understand why someone might buy one. Not everyone is of the same means and if you would love to own a Bust Dollar and are not interested in resale value, a cleaned F15 might fit your budget. You can extend this to many other series as well. If you wanted a Gobrecht dollar but have limited funds, it is a choice available to you. >>



This.

CoinCrazyPA

<< <i>I have bought some pre-33 gold in Genuine slabs lately for melt value. I like them because I know the coin is real and I don't have to worry about fakes. >>



This is the only reason I would buy one also.