Crazy certifications batman!
Billet7
Posts: 4,923 ✭✭✭
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.)
BTW PCGS price guide puts this coin at less than $5. (A RED is $5, so an RB is less.)
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www.brunkauctions.com
<< <i>from an ROI point of view, a waste of money......but we should remember, this is a hobby >>
ROI = Return On Investment
www.brunkauctions.com
<< <i>
<< <i>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
Chris' Complete Lincoln Variety Set 1909-date
Sure it's a "waste" of money ... but then again, IMO, so is certifying many of the coins that people do.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Base charge to grade is $14.00 and going up on the first and they put value at about a third of cost????????
Chris' Complete Lincoln Variety Set 1909-date
grading is a non-recoverable sunk cost when the coin is resold......there is no consideration for grading costs
www.brunkauctions.com
You may lose money when you sell, but that applies to any coin.
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.
Chris' Complete Lincoln Variety Set 1909-date
<< <i>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.
<< <i>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.
<< <i>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.
<< <i>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. >>
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>It was a waste only if you spent beer money on it. >>
POTD.....
Considering the coin may turn in the holder....
Eric
<< <i>"...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.