Worst Advice
Gazes
Posts: 2,315 ✭✭✭✭✭
We always see requests for the best advice. What is the worst advice you have heard or seen regarding numismatics?
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Gazes
Posts: 2,315 ✭✭✭✭✭
Comments
"Don't bother getting your cherries graded. They're more valuable just in their raw state of condition."
bahahaha. I came in with the intention of saying "everything that abde12345 types"
Your 1947 quarter is beautiful! Would you trade a piece of hot buttered toast for it?
"I can grade just as well for my series as anyone so I don't need any help thank you very much"
Latin American Collection
That quarter is worth at least three pieces of toast thank you
Who is the "Ebay and Paypal are great," guy?
See? We DO agree.
So lightening round true. No one grades like the experts at pcgs. Just true facts there. Can't really be disputed too strongly and win.
I won't post anything about CAC less we get a few old timers into a swirl
Latin American Collection
BU, its means "Butt Ugly". Not "Brilliant Uncirculated."
"All toning on silver coins is like rust and will inevitably turn the coin black as coal. Coins should be dipped to restore and conserve them."
The person who published this advice in "Coin World" started posting here recently. I am not getting into any debates with him here. He and I can agree to disagree.
Really.
The worst advice given here by far is to avoid ebay.
Buy classics and "rare" issues rather than bullion.
" Buy all original PCGS rattler coins and crack them out and resubmit, they will all go up a grade"...... Never followed it but yes a dealer said this to me...
Why don't you just put them in the vending machine?
Fan of the Oxford Comma
CCAC Representative of the General Public
2021 Young Numismatist of the Year
I was thinking it, glad I didn't have to say it!
Well the BEST advice I ever got was when I entered my career at 23 years old. "Don't waste money on booze and women, buy real estate. Use them as rental properties."
Well I lived like a rock star for a lot of years and as a result I can't afford the coins I'd really like to buy.
Great transactions with oih82w8, JasonGaming, Moose1913.
There are a few people out there who can hold their own with anyone at PCGS when it comes to grading coins in a specific series. I can name names, if you wish. This is not to disrespect anyone at PCGS; rather it is let you know that while some of the best are in the grading room at PCGS, not all of the best in numismatics work there.
"Seu cabra da peste,
"Sou Mangueira......."
I wish you to name names.
Secrecy is the enemy of learning.
Also Beat Up
And "Bin Used."
My very first thought when I saw this thread was right there with you. Imagine how hard I laughed when I saw who was the first to reply to this thread.
"I'd rather have a PCGS coin with a gold bean from CAC than the same coin graded the next grade up by PCGS without the sticker"
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
From my Grandmother (with a dismissive tone): "Don't buy coins -- get 'em for face value only."
(Her idea of "coin collecting" was saving circulated silver coins.)
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
Is that toast with or without a cat?
@Walkerfan said:
In many cases I would want the gold CAC vs the next grade up
Latin American Collection
You keep me guessing abc123.
Not sure if you're offspring of BongoBongo or if Lord M. has hacked your account again, lol.
Here's one of my favorite recent gems:
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
My friends call me abc123. My close friends call me a1.
I think that is generally "good" advice, especially if you can't see the coin in hand first (ie buying out of an on line auction). The higher grade coin is potentially low end (assuming it's been to CAC) while the gold bean coin is perceived by CAC as being "solid" for the next grade up. For my druthers, I'd take the CAC gold bean one grade down in most cases. Now if the higher grade coin is someday stickerable, it changes the dynamic.
I did that one time on 3 rattler/ogh MS65 seated halves (pre-CAC era). Sent them in for regrade together on a 3 coin submission....all 3 went up to MS66. All 3 later stickered as well. Sometimes it does work.
I recall a major dealer in the 1970's/1980's routinely recommend buying a pile of common MS63 coins (Morgans, Walkers, Commems, etc.) over a smaller number of higher grade pieces in 65/66. In many series, that was just terrible advice, especially into the rising 1980's and 2000's market. In their mind, there was "value" in a pile of similar looking coins....over just a few of very high quality. In many series MS/PF63 values are largely unchanged over 30-40 yrs. Probably doesn't apply to a MS63 Flowing Hair Dollar....but you get the idea.
"Don't waste your time on varieties you can't see with the naked eye. No one wants them."
Paying a premium for any PR/MS 69/70 coins.
I'm going to put that theory to a test shortly.
Sending off a 1878 8TF VAM 14.18 to auction in a few weeks.
The grade is AU 53, normal coin is $100 vs $4500 price guide for this VAM.
All because it's got a little squiggly die break from the 7 in the date to the rim
Always about how the grading services are biased, trust the raw coin people at shows.
TV coin shows have the best buys at great prices.
Buffed Up,,,,
Bent Up,,,
Beat Up,,,
My local dealer imposed this wisdom on me over 20 yrs ago,,,,,,,
Don't worry if you pay way over bid for a coin. If a Dealer prices it significantly higher there's a good reason..........
Best day to shop is Good Friday. Dealers become humble and benevolent and feel it is their obligation to sell the coin of your choice at cost.
All the "S" mint mark stands for silver.
Ms70, I like you. You probably don't remember, but you sent me a PM about two years ago that really set me straight about how this forum works, i.e. the ends and outs etc. I thank you. Anyway, when I was 23, I got the same advice about booze, women, and real estate. My advisor was the 18 year old future Mrs. Hydrant. She was right. Here's the rub. As a result of taking her advise, I can now afford to buy ANY coin I want. But I don't do it. Instead, I spend "Moon Money" on my four beautiful daughter's in law, the nine grand children, and the ever-so-lovely Mrs. Hydrant. Coins are fun but there are more important things. Funny though, I'm still spending money on booze, women, and real estate. Just not wasting it. Except maybe for the booze.
.
worst advice I have heard from a dealer who told me the coin is now in an NGC 65 holder and now the value is 65 money, thats simply how it is.
From a self anointed expert - "Now with grading companies, you do not even have to look at the coin - they are experts and all grades are final." Another of the same ilk used to tell me about the fantastic deals he gets on TV.....said I should not waste my time at shows, just buy from my living room recliner.
We really need a barf icon..... Cheers, RickO
I have a PCGS coin graded EF-40 that has a gold CAC sticker. After I got home and I REALLY looked at that coin, I noted that it had been brushed. PCGS net graded the piece, and got the grade on the holder right. The gold CAC sticker was not justified because of the brushing. I bought this piece six years ago when I was more trusting of CAC.
CAC is like any other sort of grading advice. You have look for yourself, make up your mind and use your judgment. You can't rely on a grade label or a sticker to keep you from making a mistake.
"Buy the book before the coin."
With the Newman Numismatic Portal now operational, there will be little incentive to buy anything that is not copyright-protected.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
"There's no money in foreign coins"
I was skeptical about "sight unseen" tpg-graded coins when the whole concept was pushed, and I can absolutely confirm that buying slabbed coins with an assigned grade without inspecting them up close & personal is a stupid mistake.
It allows shady sellers to hide behind a "professionally rendered opinion" with no liability for the shady seller and very, very limited liability for the professional grader.
I knew it would happen.
Buy the low grade Saints. The premium has to come back.....
To crack a GSA toned CC Morgan...
"You may think these 1881-S Morgans in MS-65 are expensive at $500. But just wait until 1990 or so..they'll be worth thousands!"
LRC Numismatics eBay listings:
http://stores.ebay.com/lrcnumismatics
From my Dad (the only bad advice he ever gave me!), "I see you like those old coins I gave you, I'd clean them up and put them in an album of some kind." Well, at least he was half right!
Louis Armstrong