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Worst Advice

GazesGazes 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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Comments

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    @Gazes said:
    We always see requests for the best advice. What is the worst advice you have heard or seen regarding numismatics?

    "Don't bother getting your cherries graded. They're more valuable just in their raw state of condition."

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    Your 1947 quarter is beautiful! Would you trade a piece of hot buttered toast for it?

  • BoosibriBoosibri Posts: 12,424 ✭✭✭✭✭

    "I can grade just as well for my series as anyone so I don't need any help thank you very much"

  • TetromibiTetromibi Posts: 947 ✭✭✭✭✭

    That quarter is worth at least three pieces of toast thank you :)

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭
    edited April 13, 2017 1:38PM

    Who is the "Ebay and Paypal are great," guy?

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    @Tetromibi said:
    That quarter is worth at least three pieces of toast thank you :)

    See? We DO agree.

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    @Boosibri said:
    "I can grade just as well for my series as anyone so I don't need any help thank you very much"

    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.

  • BoosibriBoosibri Posts: 12,424 ✭✭✭✭✭

    I won't post anything about CAC less we get a few old timers into a swirl

  • crazyhounddogcrazyhounddog Posts: 14,071 ✭✭✭✭✭

    BU, its means "Butt Ugly". Not "Brilliant Uncirculated."

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • BillJonesBillJones Posts: 34,855 ✭✭✭✭✭

    "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.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    @Coinstartled said:
    Who is the "Ebay and Paypal are great," guy?

    Really.

    The worst advice given here by far is to avoid ebay.

  • MilesWaitsMilesWaits Posts: 5,439 ✭✭✭✭✭

    Buy classics and "rare" issues rather than bullion.

    Now riding the swell in PM's and surf.
  • Coin FinderCoin Finder Posts: 7,435 ✭✭✭✭✭

    " 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...

  • KellenCoinKellenCoin Posts: 1,237 ✭✭✭✭

    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

  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    @Tetromibi said:
    bahahaha. I came in with the intention of saying "everything that abde12345 types"

    I was thinking it, glad I didn't have to say it! :)

  • ms70ms70 Posts: 13,956 ✭✭✭✭✭
    edited April 13, 2017 2:29PM

    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.

  • ElcontadorElcontador Posts: 7,700 ✭✭✭✭✭

    @abcde12345 said:

    @Boosibri said:
    "I can grade just as well for my series as anyone so I don't need any help thank you very much"

    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.

    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.

    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    I wish you to name names.
    Secrecy is the enemy of learning.

  • KccoinKccoin Posts: 1,086 ✭✭✭✭✭

    @crazyhounddog said:
    BU, its means "Butt Ugly". Not "Brilliant Uncirculated."

    Also Beat Up

  • jtlee321jtlee321 Posts: 2,365 ✭✭✭✭✭

    @Wabbit2313 said:

    @Tetromibi said:
    bahahaha. I came in with the intention of saying "everything that abde12345 types"

    I was thinking it, glad I didn't have to say it! :)

    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.

  • WalkerfanWalkerfan Posts: 9,770 ✭✭✭✭✭

    "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/

  • COCollectorCOCollector Posts: 1,346 ✭✭✭✭✭

    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.

  • 10000lakes10000lakes Posts: 811 ✭✭✭✭

    @abcde12345 said:
    Your 1947 quarter is beautiful! Would you trade a piece of hot buttered toast for it?

    Is that toast with or without a cat?

  • sparky64sparky64 Posts: 7,048 ✭✭✭✭✭

    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

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    edited April 13, 2017 4:19PM

    @Walkerfan said:
    "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"

    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.

    "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..>

    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.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    edited April 13, 2017 4:26PM

    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.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cmerlo1cmerlo1 Posts: 7,963 ✭✭✭✭✭

    "Don't waste your time on varieties you can't see with the naked eye. No one wants them."

    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • DancingFireDancingFire Posts: 311 ✭✭✭

    Paying a premium for any PR/MS 69/70 coins.

  • 10000lakes10000lakes Posts: 811 ✭✭✭✭

    @cmerlo1 said:
    "Don't waste your time on varieties you can't see with the naked eye. No one wants them."

    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

  • logger7logger7 Posts: 9,082 ✭✭✭✭✭

    Always about how the grading services are biased, trust the raw coin people at shows.

  • BarndogBarndog Posts: 20,516 ✭✭✭✭✭

    TV coin shows have the best buys at great prices.

  • GRANDAMGRANDAM Posts: 8,777 ✭✭✭✭✭

    @crazyhounddog said:
    BU, its means "Butt Ugly". Not "Brilliant Uncirculated."


    Buffed Up,,,,
    Bent Up,,,
    Beat Up,,,

    My local dealer imposed this wisdom on me over 20 yrs ago,,,,,,,

    GrandAm :)
  • DollarAfterDollarDollarAfterDollar Posts: 3,215 ✭✭✭✭✭

    Don't worry if you pay way over bid for a coin. If a Dealer prices it significantly higher there's a good reason..........

    If you do what you always did, you get what you always got.
  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    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.

  • TurboSnailTurboSnail Posts: 1,668 ✭✭✭✭✭
    edited April 13, 2017 7:33PM

    All the "S" mint mark stands for silver.

  • HydrantHydrant Posts: 7,773 ✭✭✭✭✭
    edited April 13, 2017 9:30PM

    @ms70 said:
    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.

    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.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    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. :D We really need a barf icon..... Cheers, RickO

  • BillJonesBillJones Posts: 34,855 ✭✭✭✭✭

    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 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.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭

    "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.

    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • ElmhurstElmhurst Posts: 795 ✭✭✭

    "There's no money in foreign coins"

  • jmski52jmski52 Posts: 23,287 ✭✭✭✭✭
    edited April 16, 2017 9:12AM

    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.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Buy the low grade Saints. The premium has to come back.....

  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭

    To crack a GSA toned CC Morgan...

  • LRCTomLRCTom Posts: 857 ✭✭✭

    "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

  • RollermanRollerman Posts: 1,897 ✭✭✭✭✭

    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!

    "Ain't None of Them play like him (Bix Beiderbecke) Yet."
    Louis Armstrong

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