I just don't get this.......
Kirk222
Posts: 477 ✭✭✭✭
I know some of you will come up with all sorts of reasons. But I just don't get why anyone would pay good money to have a common date coin, in "fair" condition(or even up to VF) graded and slabbed by a TPG. Now let's hear why I am not getting it. I would simply put it in a Dansco album.
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If you're asking why some collectors go after common coins in low condition may I humbly suggest you research your question(s) on this forum.
I believe you will be surprised at your findings and possibly- like I've done- come to a conclusion they are passionate collectors who are enjoying the heck out of this hobby, albeit in a strange and unusual fashion.
While I'm personally with you....
There is something to be said about the "thrill of the chase". Most poor/fair/AG coins aren't in good enough shape to be certified. So finding acceptable candidates, and doing low-ball sets, probably is an interesting past time.
At one time, it was probably CHEAP too....But now that some of them sell for "stupid money", I'm guessing that some of the fun probably got sucked out of it as well.
They probably thought they were "million dollar errors" as a result of watching online get rich from your pocket change videos.
Not all of those coins are submitted by knowledgeable people. Some may have thought they had a better coin than they did. A small number may have some personal significance attached to it and the submitter wanted it preserved.
The majority, though, I would suspect are mistakes made by people on the learning curve.
The submitter might have overestimated the grade. Or wanted the protection of the holder, even though there were more economical options. Or didn't mind paying to find out if his grading was “right”, based on his expectations vs. the opinion rendered by the grading company. Or he might have thought he had a scarce variety, but was either wrong and/or the coin wasn’t attributed as such. And so on...😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Grading voucher was due to expire?
There are lowball sets in the PCGS registry
Lol. Sounds as if you're specifically talking about me. Lol. I'm one of your examples to your question. I not too long ago submitted a coin in which afterwards, the submission and shipping, etc. Would exceed the value of the coin, as you mentioned. Two reasons, first, I love the variety! Quite popular with variety collectors. Second, this was my first RPD find ever. It's funny someone mentioned for low ball sets. When I sent it in, I was hoping it would come back at least a G- 5 or 6. It end up coming back a AG 03! At first I was disappointed but when I found out it end up being the " lowest" graded for that variety category. Lol. It's actually a POP. 1. Lol I couldn't of been more happier. Thanks for asking.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.One good reason is sentimental. Slabbed coins will keep better if you want to pass them along or reduce the risk of losing or damaging them. I have some coins that my dad brought back from WWII that I slabbed. The IHC above seems to fall loosely into this category, i.e. has sentimental value.
Careful with that term "stupid money". You are disparaging the collector big time! Some on this forum will come at you with scorn. I am not one of them but thought you should be warned!
Oh, poo. I'm sure most understand I was using a personal definition, and not some universal definition. What I think is "stupid" might be perfectly sane to someone else. What I happily paid for my last coin might be stupid to someone else.
I totally agree with you! There was a thread some time ago where a poster was chastised for using that exact term. I will see if I can find it. I personally see no problem with it.
https://forums.collectors.com/discussion/1035091/new-rochelle-in-poor-o1/p1
I
The Good, because they are cheap: https://www.pcgs.com/setregistry/alltimeset/159539
The Bad, because low balls are difficult: https://www.pcgs.com/setregistry/alltimeset/159541
The Ugly, because WHAT HAPPENED?!?: https://www.pcgs.com/setregistry/alltimeset/159542
T. Whitmeyer
Front-end Developer, Collectors Universe
I sent in a batch of varying grade morgans before to test my own grading skills. That little test has helped me to make better purchases in the future.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Now THOSE, there are hundreds of. Literally 297 VG-10 1938-D coins certified by PCGS. And well over 200 in every grade from VG-8 through XF-45.
Near as I can figure out, it's because it is the "key date" for the short set, or late dates...whatever you want to call it.
Try to find an AU coin, though....
The answer is obvious. People are different and like different things. Who am I (or you) to tell people what to spend their money on?
If we were all the same, the world would be an incredibly boring place.
Tommy
People sometimes put together grading sets.
"Don't let your friends say you have no taste go ahead and marry anyway".
Seems apropos this thread.
They were trying for an '01'.....From the looks of it they had a decent shot at it too !
Collections are personal.... some people collect for fun, some for value, some for prestige....It is a hobby and people should do what pleases them.... their money, their time, their hobby. Cheers, RickO
Here's a good example of what we are talking about. I mean, a fine example. I didn't have it slabbed. But I bought it, cuz I liked it.
But I bought it, cuz I liked it!
This should be the whole reason why coin collectors collect. No price tag on it! I for one, stand on it.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.When my Great Grandfather died in the early 1920's, he had 5 cents in his pocket (5 1 cent coins, well worn, dated between 1911 and 1915) No collectors value but I sent them off to PCGS to be certified and slabbed. I did that so they wouldn't end up in some penny dish to be rolled and taken to the bank. When they came back F to VF, I put a rubber band around the 5 slabs, added a note of where they came from and asked who ever ended up with them to keep them together. They still reside in my SDB to this date just waiting for the next family member to sit and look at them and remember Pops.
Boy, what a tribute to your grt.grandfather as well as to your family. Don't want to take away from your wonderful story but I can relate pertaining to having the coins certified. My story is a little similar. Told this a couple of times. My father had 5 children. Me being the oldest. For each kid,
My dad would have a Morgan Dollar engraved with our individual name
and birth date on the coin. Well mine, like your thought, I decided to send in to PCGS to have certified or at least to authenticate. I took it a step further, I asked them if they would type " Dad's Dollar" on the slab. Well they did! I show it in my avatar. Thanks for telling us why we have our coins sent in. Great story to share for years. Your's and mine. Any pictures?
What a time to tell these stories when Father's Day is around the corner. 😉
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I found this one in a common slab box at my local coin shop, I had to buy it for the sheer absurdity of it. it cost me $1.58 after tax! I constantly ask myself why would someone send this in for grading and what they were trying to accomplish? I'm guessing not the desired result if it ended up in the "junk bin". To each their own I guess.
Protect a sentimental coin
grading voucher expiring
need one more coin to make an order work
Grins and giggles