Anyone remember large Silvertowne slabs from the early 80's?

Manorcourtman

At a show today a dealer had several large Silvertowne "slabs" from the early 1980's I was told. Sorry no pics. They were probably 6 inches by 8 inches and riveted together with 6 brass rivets. It had two grades, one for the obverse and one for the reverse. Does anyone have any knowledge or info on these early form of graded slabs?

3keepSECRETif2rDEAD

...what coins and how much and can you buy only 1 or is it sold as a lot? answer only what you wish

Manorcourtman

I saw 4 or 5. Never talked price. He had a common Walker in 63/64 for $100 or so I think. I didn't know what to think about them! Just wondered if anyone remembers them.

Zoins

Don't remember these but would love to see a photo. I'm a big fan of slabs types.

CaptHenway

Never heard of them.

ricko

I recall seeing one of these at a show in Seattle... I believe it was either a Boeing club show or the PNNA...Big slab... had never heard of it at that time and this is the first I have heard of it since... Cheers, RickO

astrorat

I have only seen two ... and purchased both of them. Below is one. I have no information as to when they were produced.

BStrauss3

I have one on my desk. Classic Capital Plastic type 3-layer case but with the brass rivets instead of the small screws.

Peace_dollar88

Never seen one before... makes me want to find on housing a Peace Dollar now!

Manorcourtman

@astrorat said:
I have only seen two ... and purchased both of them. Below is one. I have no information as to when they were produced.

That's it! Thanks for posting the pic.

ricko

Yep... that is just like the one's I saw at the show... Cheers, RickO

BStrauss3

Silvertowne Numistmatic Portfolios, Inc

Was registered in Indiana from 1986-1990 (e.g.: https://bsd.sos.in.gov/PublicBusinessSearch/BusinessInformation?businessId=228094) in Winchester, IN (which is where Silvertowne is). It's listed as voluntarily dissolved effective 6/12/1990.

Given the working on the cert, this is an FPG (First Party Grader) not a TPG. Also interesting is that they will refund your money and pay 10% interest if the coin is found not to be genuine, and will buy it at the grade in Indiana,

FYI, majority interest in Silvertowne was acquired by A-MARK in 2016.

From memory and limited research, when US IRAs were first created (1974), rare coins were marketed as the ideal investment, however they were hard to value. In 1982 the law changed to prohibit investments in "collectables" with an exemption for US Bullion-type coins. One of the benefits of certified coins was the standardization of value, but the law has never been changed to allow investments in rare coins other the bullion.

https://www.law.cornell.edu/uscode/text/26/408

(m) Investment in collectibles treated as distributions
(1) In general
The acquisition by an individual retirement account or by an individually-directed account under a plan described in section 401(a) of any collectible shall be treated (for purposes of this section and section 402) as a distribution from such account in an amount equal to the cost to such account of such collectible.
(2) Collectible defined For purposes of this subsection, the term “collectible” means—
...
(D) any stamp or coin,
...
(3) Exception for certain coins and bullion For purposes of this subsection, the term “collectible” shall not include—
(A) any coin which is—
(i) a gold coin described in paragraph (7), (8), (9), or (10) of section 5112(a) of title 31, United States Code,
(ii) a silver coin described in section 5112(e) of title 31, United States Code,
(iii) a platinum coin described in section 5112(k) of title 31, United States Code, or
(iv) a coin issued under the laws of any State, or

BStrauss3

Oh, and mine is C-1215-A, a 1940D Mercury Dime graded MS64 (65 obverse, 64 reverse) with a decent chance as FSB...

Of course, I bought it for the holder, so unless I were to crack it out and it graded 66FSB or 67, I'm underwater...

johnny9434

thats cool looking

astrorat

Nice dime, Burton! Here's my other one:

ECHOES

@johnny9434 said:
thats cool looking

Yes it is...

BustDMs

Wish you would have introduced yourself. I would have loved meeting a board member. Maybe next time?

Sold one at the show and have the rest still in stock.

mannie gray

Those are very cool. I can't recall ever seeing one before.