Would you buy a raw 1932-D quarter
Jeffnlu
Posts: 286 ✭✭✭✭
My lcs has one he has self graded ms63 for $250. This would be for my Washington Dansco. He has a great reputation, been a coin shop for around forty years. He is fair to me on my other purchases. Many of his coins are in 2x2 flips. Old gold, 09S vdb, 16D mercury, etc.
Or would buying one slabbed be safer, better?
2
Comments
Those are 2 different questions.
Yes, buying a slabbed one is always safer as it comes with a guarantee.
Yes, I would buy it raw if I trusted the dealer's opinion or your own. Assume there is no guarantee with the coin as the dealer might be dead or retired before you found out it is fake. But if you trust his expert opinion or you trust your own, then there is nothing wrong with buying raw. ALL COINS were sold raw, as-is for 150 years. Did Pittman or Eliasberg ever buy a slabbed coin?
Since you know him, and you can get a return, if the price is right - buy it. An alternative is to have him send it in to be graded (you pay) and then buy it. That way you'll know it is genuine and is not AU.
What insider said.
Do like many of my potential customers do to me. Offer half that and then never show up.
``https://ebay.us/m/KxolR5
Wrong , the correct answer is buy it because that and the 32-s are the only two washingtons worth more than melt.
You really can't go wrong if you compare it to what a VG is supposedly worth .
Oh my the s fell off. Now what.:)
@bronco2078 said: "Wrong , the correct answer is buy it because that and the 32-s are the only two washingtons worth more than melt. You really can't go wrong if you compare it to what a VG is supposedly worth .
IMO, this post is embarrassing. Yes, go ahead and buy it although the 1932-D is the most altered coin in the set.
Hopefully the OP will take my advice although I'm wrong! 
No need to get a receipt or have it authenticated. Yes, go ahead and buy it without knowing its actual commercial grade or if $250 is a good price. So sad.
melt then like the rest of them. At least it wasn't AT
It's not embarrassing because it speaks to the fact that its valued in a ridiculous manner . Its been elected to be the "key" of a plain series by default and only OCD requires its purchase in the first place. Leave that hole in your whitman empty. The truth is , no washington quarter is actually worth the slabbing fees . If a coin doc is willing to work that hard for such a miserable reward as 247 dollars then times are tough indeed and the coin market is much worse than I thought.
O M G So sad... I'm going for a drive.
Here is how you do these
and the 32 's
Theres a hole at 38 40 and 41-d i think on that page that will never be filled even at melt most likely and it won't bother me a bit
I buy raw all the time. I tried the grading game for a few years. (Submitting coins id purchased through collections) Truth is: the collections that come in are all typically raw. Registry collectors have other outlets for filling their holes. Each to their own.
``https://ebay.us/m/KxolR5
I would have no problem buying it raw as long as the dealer can accurately grade. Some cannot from what I've seen on 2x2s at shows.
Collector, occasional seller
Don't be fooled by what's written on a coin holder. Most dealers know how to grade using two different grading standards---one for buying and one for selling.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
PCGS graded MS63 1932-D quarters sell for over $1,000 at Heritage (Wow, prices have really dropped for Washington Quarters). Why would a dealer sell a $1,000+ coin for $250.00? If you don't know the answer to that you have a lot of expensive lessons to learn yet.
If the coin is $250.00 you probably have yourself an AU50 to AU55 (AU55 worth about $250.00) at best. Cleaned or counterfeit at worst. What is your time worth driving across town to get your $250 back? Will the dealer reimburse the grading, shipping and insurance fees you paid? Time is money and hassles take energy. Avoid both.
There is no problem buying a $250 raw coin from your trusted LCS if you agree with the grade. If you want a second opinion, take some quality photos and post on forum asking for grade opinion.
If your grading skills are weak, it is a good idea to check anyone selling you raw coins by submitting some of the coins for grading. If a dealer is selling me raw coins at MS 63, and the coins are grading at AU 58 that is a dealer that I do not want to buy coins from.
Yes I would and I have. If you are not sure about the grade or authenticity then you should ask for other opinions such as on the forum or have a TPGS render an opinion.
we have a winner
Why waste grading fees ? If its actually an ms-63 what dealer would value the coin+ the dealers profit margin at $250 ? The dealer is able to look up coins as easily as everyone else right? How do we arrive at the point where he prices it at $250?
The only reason to get it sent in is if you think he has under-priced it and you see a chance to cherrypick the dealer.
The real argument here is only a question of who fell off the turnip truck . It's almost never the guy that owns the store. Look at some of his other coins and subtract 8 to 10 grade points from his posted grades and see if the marked prices now look high or low or right in line. If they are in line you can buy from the guy as long as you ignore his grade-fantasizing .
as long as you are happy paying 250 for an au coin then its probably okay. Get some 2x2's and staple it in and write AU in the corner.
Does it look MS63 to you?
If it is an upgrade to your current set why not? Make sure its not cleaned. Also sell the guy your old one first, then buy the new one..
It's cheap for an MS63. In 1977, I purchased one in Mint State for $250 and sold it to a Friend in Albany, NY. The dealer was one, with a brief mention in a bowers book, who was associated with other coin dealers. In good repute
You might say why all the information? why all the names? I do this to establish my trust in the dealer.
My Friend who bought the coin from me, brought it back to me saying: "I got bad news for you it's a doo-doo"
You see he brought the coin to a very trusted Numismatist, who is still in business in Albany.
Many doo-doo's, about that time, came out of Canada, yes Canada, not China as is the case today. The coins are quite so genuine looking and many men in 1977 might be lucky to take home $250 to $350 in Albany NY.
I do not seek to cast aspersions on your friend, the coin dealer, it's just the kind of coin that needs authentication
dealers are in the business to make money. If getting it in a slab at 63 would get him an extra $1000 why would he not do it ?
If it's too good to be true...
It's very nice, not cleaned. I think the grade is a little high. Maybe I have the wrong idea but I expect that dealers do grade their merchandise on the generous side. No different than trading in a car at a local dealer.
As far as the dealer leaving money on the table. Price on the coin is $300, he will take $250. He has been around a long time which I don't think happens by being crooked. I have compared this coin to online slabbed coins at that price point. To my eye his is about two steps better.
if it was in a pcgs 58 holder he could sell it for twice as much (ie around $500). I just dont see it being anything close to a 63 especially since this dealer has been in business for 40 years and I assume knows the value of the coin.
It is priced at around a 53-55. As such, it should show obvious wear. Take a look at the auction results, lot photographs and other information available at this site. My concern would be that the dealer marked it as a 63 rather than AU. I don't like that sort of selling tactic. Although many seem to accept such behavior as "normal" in the coin business to me it is simply dishonest.
Why no picture?
Generous is putting 63 on a 62. Putting 63 on a 50 is intentionally dishonest. If you think that's what he did, he is NOT as trustworthy as you think.
And if you are goingto put 63 on the coin, there is no point in putting an AU55 price on the coin. Then you just look stupid and blind.
Ask for an AU 55 slab guarantee at the $300 price and see what he says. If he refuses, consider finding a new coin shop.
It might be worth the purchase and grading fees if nothing else to find out how good YOU are and how good the DEALER is at grading coins. If it comes back XF Cleaned Details, or MS63, then that is a major indicator for you and for the dealer.
While it will cost you $300, if could be a pretty cheap lesson from there on out.
Ask the dealer why it's priced so low. See what he has to say.
I knew it would happen.
Don't ask the dealer ANYTHING about the price. Ask if he is an ANA member, Then, get him to send it to a TPGS for you. Otherwise, buy the coin. Get a receipt stating MS-63 1932-D 25c for $250. Tell him you are going to have it checked. If AU's sell for over $400, this dealer is either out of touch, needs some fast cash, or is passing a problem, altered., or overgraded coin.
"There's no Santa Claus in numismatics."
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Use your own money to pick a fight with the guy? Just move along if it seems off
I bought one decades ago and it had an added mintmark.
I will go back and recheck, maybe I am mixed up on my grades. I did look at a lot of high priced (to me) coins. You guys are correct, that is way too much of a price difference being priced as 55 vs 63.
Thanks for the advice.
Have the dealer submit it to PCGS or NGC, you pay for the all the fees and postage. If it comes back MS63, buy the coin. If not the dealer can always crack the coin back out. If the dealer won't submit it for you then move along
Overland Trail Collection Showcase
Dahlonega Type Set-2008 PCGS Best Exhibited Set
Did you write $250 for an MS63 1932-D Washington quarter? No way, no how.
In honor of the memory of Cpl. Michael E. Thompson
Yes but be sure you know what to look for.
And $250 for a 63 is just wrong.
Something ain't right for sure.
I prefer to believe in fantasies. He is well protected to get his money back AND he may end up with a genuine coin that is underpriced. Oh, and there will be no fighting involved if the dealer is an ANA member.
PS Coins are different from sports.
If he sends it in for him and it really is an ms-63 then my wag is the dealer says oops sorry and the sale never happens. If it is an AU coin then between the purchase price and the fees the buyer is buried. 5 years from now an AU is worth less than right now so the hole is going to get deeper
Perhaps I was not clear. He buys the coin. Now he owns it. For $250, if it comes back MS he did OK. If it comes back anything problematical - authenticity, details, AU; he has a written bill of sale from an ANA member (?) that he was sold a Mint State coin. Return it for a refund or keep it for a partial refund. Since someone here claims that a 1932-D in AU is worth at least $400. He still did OK. I hope I stated my opinion much clearer. Furthermore, if the OP is a very good customer, IMO he won't have any problems with the dealer whatever happens.
PS This is getting tedious so I'm going to read. I enjoyed posting with you today.
I thought you meant pay the dealer to submit it and then buy it on return. That would never go through for $250 if it came back slabbed ms-63
$250 for a 1932-D Washington in MS63 is too good to be true. I would be awful suspicious about the authenticity of the coin. It is a very heavily counterfeited coin by adding a "D" mintmark from another coin to a 1932-P. Unless you know how to verify this coins authenticity yourself or get a guarantee that it is legit and can send it in to get graded, then I would stay away. If it is too good to be true, it usually is.
No, I would not, and did not. Both my '32 D and '32 S were bought TPG (PGGS) certified.
Kind of surprised by some of the responses posted. ooooph!!!
EVERYBODY pays the price of education, in all of our endeavors. Can be time. Can be money. Can be ___________.
With that. As a collector. As numismatist, irregardless of our experience level, should complete our "due diligence". Yes, do your homework.
Which, in this case, the original poster, is!! He consulted how many THOUSAND years of experience on this site?
Yes, it may seem like the advice is the same, but, it works.
Engage yourself to become as much of a subject matter expert in your area of collecting.
Look at all available resources available - including the internet AND printed material AND PCGS Photograde and...and...and!!!
Engage other collectors. What are your thoughts on this example?
Join a coin club.
START a coin club!!
Yes.
+1 definitely