Safe Deposit Box is not so safe... and the dangers of rubber bands

TopographicOceans

...at least for this slab.

I sold a coin and had to go get it from my SDB at the bank. When I was looking through the coins to find it I discovered this

I have them rubber banded stacked 6 coins high and I guess I shoved that stack in too tight. At least it was the only slab cracked.

Personally I can live with it, but I'm wondering if it would still be saleable one day? Would you buy it like this?
It's probably better to get it reholdered now.

DCW

I don't think anyone would be happy purchasing it like that. Best to reholder

Barndog

reholder is my advice too

oreville

Try to do it at a show particularly the PCGS show to avoid s&h&i

Walkerfan

That is completely unsaleable IMHO. I certainly wouldn't buy it. It is cracked so badly that I hope that our host does re-holder it and doesn't reject it as being tampered with.

BustHalfBrian

Needs to be reholdered, IMO. If the crack were not so extensive or so near the coin itself, it might be acceptable, but most would probably still want a discount. If you want to get full value when you sell, it needs to be re-slabbed.

commoncents05

I would have no problem buying it.

-Paul

coindeuce

Why would you expose your DCAM Proof coins in the closed climate of a SDB to the high sulphur content of rubber bands ? Are you just a little crazy ? Use light gauge plastic cable ties that can be unlocked with the flick of a ball point pen tip, when you need to liberate a coin from the stack.

CoinZip

<< <i>I would have no problem buying it.

-Paul >>



+1

I buy coins not plastic.......

coindeuce

Sonorandesertrat

<< <i>Why would you expose your DCAM Proof coins in the closed climate of a SDB to the high sulphur content of rubber bands ? Are you just a little crazy ? Use light gauge plastic cable ties that can be unlocked with the flick of a ball point pen tip, when you need to liberate a coin from the stack. >>

BryceM

I'd look at it closely, but I'd buy it with no worries, then re-slab if it was a coin I needed.

Looks like a slab that did its most important job perfectly to me......

Unknown

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lkeigwin

If I wanted it for my collection I would buy it in spite of the damage. But I'd factor-in the reholder costs on the price I would pay.

If it were mine and I hoped to sell it some day I'd submit it for reholdering. Or regrading. Might get lucky.

Rubber bands are evil. Keep them away from coins.
Lance.

Baley

The hairlines in the fields of the coin bother me more than the cracks in the slab.

TopographicOceans

<< <i>Why would you expose your DCAM Proof coins in the closed climate of a SDB to the high sulphur content of rubber bands ? Are you just a little crazy ? Use light gauge plastic cable ties that can be unlocked with the flick of a ball point pen tip, when you need to liberate a coin from the stack. >>


I didn't think about that. Thanks.
Maybe I'll get a metal box and wrap up some Morgans with rubber bands and put it up in the attic and see what happens!

The cracked holder doesn't bother me, but I doubt I would buy it that way. I don't think it's going anywhere from 64CAM, so I'll probably just send it in for reholdering with a TrueView.

Kove

I'd consider buying it if I needed it, while mentally deducting the costs of reholdering and S&H.

lasvegasteddy

<<< in the reholder crowd here
adding a trueview is a wise move too

awesome example by the way

lordmarcovan

Dang, you must really have 'em shoehorned in there!

Yep- reholder it.

(Unless you wanna sell it to me on the cheap, as-is.)

PS- I agree about the TrueView. Might as well do that while you're having it reholdered. Well worth it, IMHO.

Hope it doesn't develop any weird toning patterns from the crack.

PerryHall

Keep rubber bands away from your coins. Stretch one a few times and smell it. That's the high sulfur content of the rubber band.

291fifth

Buy it? It would all depend on how much it was discounted because of the cracked slab. The discount would have to be SIGNIIFICANTLY more than the full cost of reslabbing because of the bother involved.

baddogss

That crack isn't a show stopper, re-holder if you feel it's needed.

This one I'm leaving alone, and I bought the coin in the current holder.

keets

as others have said, rubber bands are bad. if you use a rubber band around a stack of slabbed coins you might open the SDB one time to find a tone line underneath of it on the top and bottom coins of the stack.

astrorat

<< <i>Why would you expose your DCAM Proof coins in the closed climate of a SDB to the high sulphur content of rubber bands ? >>

That's a very good point.

BillJones

I would get that re-holdered. It's now expensive to do it, but in that case, having the air rush in is not good. Also selling the coin in the future will be a problem. As a dealer I'd have to subtract the cost of re-slabbing from the price I'd pay you.

Here is another piece of advice. Rubber bands and coins in safe deposit boxes don't mix. Rubber bands give off sulfur as they get older which is one of the prime elements that tone coins of all metals. That includes copper, silver and even copper spots on gold.

okiedude

I'll buy it "as-is", $200 no questions asked!

silverpop

i'd buy it as is

unlike many i'm not trying to make a profit off coins

originalisbest

Reholder it both for aesthetics and to keep air off the coin. And for all the reasons stated, banish rubber bands from your sdb!

PerryHall

<< <i>as others have said, rubber bands are bad. if you use a rubber band around a stack of slabbed coins you might open the SDB one time to find a tone line underneath of it on the top and bottom coins of the stack. >>



Some collectors think slabs are airtight which is definitely not the case.

Jinx86

Ive bought slabbed coins with the entire label portion snapped off, still hand it with the coin just wasnt connected. The puzzle pieces fit and when your buying the coin after all, who looks at the holder?

roadrunner

<< <i>I would have no problem buying it.

-Paul >>




Exactly. It's about the coin, not the holder. If nice for the grade and fairly priced I'd buy it in a heart beat....factoring in a few bucks for a reholder. I think more people would pass on this coin in an uncracked non-PCGS holder than this cracked PCGS holder. Yes, we've come a long ways in the past 6 years....lol.

So, if this exact was offered to you raw and what seemed like a good price, you wouldn't buy it because? (no more cracked holder to lean on).

How did we even survive back in the 1970-1990 period when either slabs didn't exist or were far outnumbered by raw coins?

ricko

I find it strange that that crack could have been caused by a tight rubber band. I believe there was another cause... as far as sale potential, any buyer would expect a discount at least equal to shipping and re-slabbing... Cheers, RickO

ricko

I find it strange that that crack could have been caused by a tight rubber band. I believe there was another cause... as far as sale potential, any buyer would expect a discount at least equal to shipping and re-slabbing... Cheers, RickO

Bochiman

Agreed....for all those saying "ah yeah, no problem buying it, I buy the coin and not the holder", a few are more honest and say they would expect a discount for the holder issue.

I think that it would be best to have it reholdered now for 2 reasons:
* Integrity of the slab is suspect now and coin is more exposed to environmental issues because of that (yeah yeah yeah, slabs are not airtight anyway, etc etc etc, but they do help protect the coin and retard any process that may come from the air)
* If, at some point, you just want to sell it and be done with it, you will have people try to beat you down on the price due to the crack. Take it out of the picture early and completely.

rhedden

A friend of mine had an outstanding early copper collection that I bought in 2002. Was stored in a SDB since before 1960. One coin was an 1853 Braided Hair cent that had "MS65 Red" on its paper envelope. He paid $3,000 for it in 1986 when he bought the collection. It had a carbon spot on it the size of a small pea. We're talking about a nuclear carbon blotch here, not a normal spot. I paid him $350 for it out of pity and still had to dump it at a loss after having it conserved. What a shame! All that musty, old paper money & documents decaying and releasing sulfuric-laced vapor in the SDB room. I would never store a BU copper coin in an SDB after seeing that coin.

keets

what you say is true, the room where the boxes are kept and the boxes themselves are not the best environment for coin storage. keeping them in air-tight or semi-air-tight with dessicant helps.

BAJJERFAN

<< <i>Agreed....for all those saying "ah yeah, no problem buying it, I buy the coin and not the holder", a few are more honest and say they would expect a discount for the holder issue.

I think that it would be best to have it reholdered now for 2 reasons:
* Integrity of the slab is suspect now and coin is more exposed to environmental issues because of that (yeah yeah yeah, slabs are not airtight anyway, etc etc etc, but they do help protect the coin and retard any process that may come from the air)
* If, at some point, you just want to sell it and be done with it, you will have people try to beat you down on the price due to the crack. Take it out of the picture early and completely. >>



I don't think that's what people mean when they say buy the coin and not the holder. You have to separate the physical holder from what it represents about the opinion of the coin within.

johnny9434

i do like the coin

Bochiman

<< <i>

<< <i>Agreed....for all those saying "ah yeah, no problem buying it, I buy the coin and not the holder", a few are more honest and say they would expect a discount for the holder issue.

I think that it would be best to have it reholdered now for 2 reasons:
* Integrity of the slab is suspect now and coin is more exposed to environmental issues because of that (yeah yeah yeah, slabs are not airtight anyway, etc etc etc, but they do help protect the coin and retard any process that may come from the air)
* If, at some point, you just want to sell it and be done with it, you will have people try to beat you down on the price due to the crack. Take it out of the picture early and completely. >>



I don't think that's what people mean when they say buy the coin and not the holder. You have to separate the physical holder from what it represents about the opinion of the coin within. >>



Maybe, maybe not. There is always the "I buy the coin and not the holder (ie...the TPGS or the grade posted on it)". In this case, the holder is compromised. Some may not care while some will care as it IS in a holder and that holder is NO longer pristine (beyond just scratches).

In this case, I could see "some" folks honestly not caring. Few and far between, imho, depending on the price the coin would be priced at. Make it a bargain and, yeah, they won't care. Make it a competitive price that benefits the seller (ie...don't discount it), and then I think more of those folks WOULD have a problem and would account for that by either expecting a discount or figuring the reholder pricing into their offer.