Crazy certifications batman!

Billet7 · December 28, 2012 5:34AM

I sent this coin in for grading recently, I knew that it would grade around 65, which isn't high. Was I crazy to certify it? I think the color is very pretty and I wanted it "entombed" to keep it that way. What is the general concensus...a waste of money or a worthwhile endeavour?

BTW PCGS price guide puts this coin at less than $5. (A RED is $5, so an RB is less.)

savoyspecial · December 28, 2012 5:37AM

from an ROI point of view, a waste of money......but we should remember, this is a hobby

Broadstruck · December 28, 2012 5:40AM

<< from an ROI point of view, a waste of money......but we should remember, this is a hobby

>>

ROI = Return On Investment

savoyspecial · December 28, 2012 5:42AM

on this coin ROI = Red, Orange, Indigo

stealer · December 28, 2012 5:45AM

<< 

<< from an ROI point of view, a waste of money......but we should remember, this is a hobby

>>

ROI = Return On Investment

>>

Thank you, Obiwan

copperhunter · December 28, 2012 6:05AM

Price guides generally do not apply to colorful RB/BN copper. I would be very interested in taking that coin off of your hands

astrorat · December 28, 2012 6:17AM

Holy plastification, Batman!

Sure it's a "waste" of money ... but then again, IMO, so is certifying many of the coins that people do.

LindeDad · December 28, 2012 6:18AM

This is another case where one has to wonder at the validity of the PCGS Price Guide when it comes to Modern coins listings.

Base charge to grade is $14.00 and going up on the first and they put value at about a third of cost????????

copperhunter · December 28, 2012 6:26AM

I would agree that the price guide for the moderns should be a minimum of the modern grading fee (and still that does not cover shipping/handling rationed out over an order of x number of coins). After all the price guide is for PCGS graded coins. So, if the coin has no value, then the price = grading fee.

savoyspecial · December 28, 2012 6:50AM

sorry copperhunter,

grading is a non-recoverable sunk cost when the coin is resold......there is no consideration for grading costs

MidLifeCrisis · December 28, 2012 7:13AM

There are many ways to waste money in this or any other hobby. If having the coin certified makes you happy, then this is not one of them. It was worth the cost.

You may lose money when you sell, but that applies to any coin.

Rampage · December 28, 2012 7:54AM

If it makes YOU happy, then that is all that matters. Having said that, as others have said, if you were standing in front of me wishing to sell it, I don't know if I would offer you $3.00 for it. But, you do have one person interested in the coin who posted earlier. Perhaps his offer would be higher.

I have slabbed numerous coins that were worth less than the cost of grading. But, they were done, because I wanted them done and in my collection that way. Will I lose a few bucks when I decide to sell? Sure I will, but you are only talking a few bucks. As also mentioned, this IS a hobby and if you cannot stand to lose a few bucks here and there, then this may not be the hobby for you. That goes for any hobby, really.

copperhunter · December 28, 2012 8:43AM

Well, no one is going to list these moderns at $5, but people will buy the coin for $14, so I feel comfortable with my position. Again, this is not a raw coin.

stealer · December 28, 2012 8:52AM

<< Well, no one is going to list these moderns at $5, but people will buy the coin for $14, so I feel comfortable with my position. Again, this is not a raw coin. >>

People do bulk submissions where the ones that "don't make the grade" get sold for monies less than the submission cost.

hchcoin · December 28, 2012 8:54AM

<< sorry copperhunter,

grading is a non-recoverable sunk cost when the coin is resold......there is no consideration for grading costs >>

I take the cost of grading into consideration when I buy a coin. For example, if I had two identical coins except one was graded and the other was not, I would buy the graded coin. I would also consider paying more for the graded coin up to the grading fee. Just my two cent worth.

LindeDad · December 28, 2012 9:35AM

<< Well, no one is going to list these moderns at $5, but people will buy the coin for $14, so I feel comfortable with my position. Again, this is not a raw coin. >>

I too have quit giving away grading fees on the lower value moderns I list for sale. If they want to only pay a couple of dollars for a Mint State coin then buy one in a 2x2 or flip with a grade wrote on it.

BaseballAbs · December 28, 2012 9:39AM

<< I would agree that the price guide for the moderns should be a minimum of the modern grading fee (and still that does not cover shipping/handling rationed out over an order of x number of coins). After all the price guide is for PCGS graded coins. So, if the coin has no value, then the price = grading fee. >>

segoja · December 28, 2012 9:55AM

Throw away the price guides for this neat coin!!!

ChangeInHistory · December 28, 2012 9:43PM

Here's one I had slabbed knowing it wasn't "worth it" Graded MS-65 which is what I thought it would. I just liked the coin and wanted it in a slab

lcoopie · December 29, 2012 6:27AM

you could have self entombed it

Lakesammman · December 29, 2012 7:02AM

It was a waste only if you spent beer money on it.

LindeDad · December 29, 2012 7:07AM

<< It was a waste only if you spent beer money on it.

>>

POTD.....

magikbilly · December 29, 2012 8:38AM

"...I wanted it "entombed" to keep it that way]/i]. What is the general concensus...a waste of money or a worthwhile endeavour?"

Considering the coin may turn in the holder....

Eric

Billet7 · December 29, 2012 1:07PM

<< "...I wanted it "entombed" to keep it that way]/i]. What is the general concensus...a waste of money or a worthwhile endeavour?"

Considering the coin may turn in the holder....

Eric >>

I wouldn't think so, since I personally pulled it from a roll...took nearly 50 years to reach the color it has now, since it's been removed from the environment that caused it I would think it's unlikely that it will change in the holder. In my experience coins that turn in the holders are the kinds that have been messed with (gassed, puttied, dipped, exposed to PVC etc.) or have some sort of foreign material present on the coin. This one doesn't seem to fit either category.

Crazy certifications batman!

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