Need advice-Dad's Peace Dollar Collection
Tunis
Posts: 430 ✭✭✭✭
My father wanted to put together a run of Peace dollars around the 2005? time period. Even then, as I saw him assemble his collection, I knew to advise him about PCGS as I was a PSA member. Unfortunately he spent money on ungraded coins, and non PCGS, before my advice. The grading aspect was kind of lost on him, he was just trying to complete the set.
Here are the questions. What should I do with these non-PCGS holders? Should I sell them and just purchase the missing coins? I understand that these coins are probably over graded and maybe worse.......He likes the idea of the registry.
Numistrust Corporation-Pale green background
1922 MS 65
1924 S MS 62
1934 D MS 64
1935 S MS 65
PCI
1923 D MS 63-Now raw and in Dansco
SEGS
1927 S MS 62
1934 MS 63 Light cleaning-notated on flip
ANACS
1926 D AU 58
Numismatic Guaranty Corporation
1923 MS 63
1927 S AU 55
1935 S AU 50
Here are the 7 coins he is missing in PCGS holders:
1922
1923 D
1924 S
1927 S
1934
1934 S
1935 S
Thanks for your advice and direction.
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Comments
If he likes the idea of a registry set then it looks like he will have to obtain coins in NGC (NGC registry) or PCGS (PCGS registry) holders to participate. Most likely, when and if the coins in the non-major holders are sold he will take a beating. However, if one knows what their goal is then why not pursue it?
In other words, figure out what you and/or your dad want in a long term goal and then take the steps to achieve it. Certainly, there will be some losses along the way, but if you simply freeze when things don't go well you will eventually end up with a pile of less than liquid stuff and no real direction.
Good luck.
In honor of the memory of Cpl. Michael E. Thompson
I agree with Tom here but I would add that if some of those coins are close to their actual grades in the off brand slabs that you could consider submitting a few to your TPG of choice. I might see if there is someone local or a coin shop you know you can trust to give you opinions first.
In addition to the above advice, I would add or clarify that perhaps narrow down a grade range, to give the collection some consistency and add to the overall appeal. I'm seeing grades posted run the gamut from AU50 to MS65 (albeit those third world holders are likely overgraded). Study the coins yourself, and view other coins online, and decide on a look that you like. Nicer strikes, nice luster, and minimal marks, regardless of the grade, should be appealing to you, as well as 'the next guy' when you go to sell.
Sell the non-PCGS coins and then seek the missing one's with the funds realized. Your Dad will be happier in the long run with the uniformity and the registry status. The 'losses' on the sales will likely be minor, however, that is the best path to the intended goal. Cheers, RickO
Does he have a 1921?
Don't throw good money after bad. Just enjoy the coins as is. Forget the whole registry set idea.
Find the remaining coins in PCGS/NGC holders and call it a day. Don't even dare trying to crack out those other holders and resubmit, that's just money down the drain in most cases. Sell/trade/barter those other coins if you like. I see no reason to be in anyone's REGISTRY unless you intend to compete for awards and get some satisfaction from that. Completing the set is the only "reward" most collectors need.
He has the 1921 in AU55. Thanks for all the great advice. I am even thinking about moving some of the "easier" coins up in grade to make the set more uniform. As someone who has never sold coins on EBay, I would imagine that would scare off potential buyers. I know it would influence my buying decision. I bought a Dansco album for the raw coins he bought. Maybe I just crack out the others to fill the album, and buy or upgrade the missing PCGS coins?
Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2
If you are looking to move the coins you might do very well to try the Buy, Sell & Trade forum on these boards. It is quite active and you won't be paying any fees other than PayPal, which you would likely need to accept given your short track history here. Again, good luck to both of you and please feel free to ask questions to the board before making any expensive mistakes.
In honor of the memory of Cpl. Michael E. Thompson
Basically,
ANACS is the 2nd tier. They are good on variety attribution, but the accuracy of the grades is very dependent on when it was graded (old ANA grades, Amos/Anderson press white slabs, blue label or the current yellow labels)
SEGS has their fans and their detractors.
NTC is junk, basement slabber.
PCI - also depends on when - the old, green label slabs with the two codes on the back are pretty good. After those, downhill. The gold box slabs are junk. Be aware that the green label were revived in 2010-2011 to commit fraud (google for the details) - the 'outline' on those is blobs, while the original had PCI PCI PCI microprint.
The issue between NGC and PCGS is that neither of them will accept the other's coins in their registry (relatively new change), so if you want to do the registry thing, you have to pick your stable and all your horses have to reside in it.
ANA 50 year/Life Member (now "Emeritus")
Thank you BStrauss3. This info is very helpful. The PCI coin was the gold box version. I went ahead and popped it out of the casing and put it into my Dansco album. It looks nice along side the other raw coins.
Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2
The 1928 ones ?
He has the 1928's as follows:
MS 62 1928
MS 63 1928 S
Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2
You can drag and drop photos into a post.
They need to be clear and well lit.
Please excuse the poor photos. I am slowly learning the process.
Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2
From a poster above, I realize that this grading group, NTC, does not carry much weight in the community. Any thoughts about what this coin would grade in a PCGS holder?
Successful buys on BST board from NotSure, Nankraut, Yorkshireman, Astrorat, Ikeigwin(2x), Bob13, Outhaul, coinbuf, dpvilla, jayPem, Sean1990, TwoKopeiki, bidask, Downtown1974, drddm, nederveit2
my experience, very little I admit, the NTC's do not grade at PCGS......Your's does look like it might grade if that's toning and not environmental damage on the reverse.
bob:)
If possible, go to a coin show, get feedback on your cast-offs, and sell them. Also look around at what's for sale. The education you can get at a coin show is far superior to what you can learn by looking at pictures online.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
It's you and your dad's decision in the end. But I would chose PCGS if I wanted to be in a Registry. Then pick a grade level and get them all in that grade in PCGS holders. And sell off all the other coins. It's better recoup some of your money than have it all tied up in coins you don't like and/or want.