Options
Just a little too late and a BIG WHY? Missed collection
Vetter
Posts: 981 ✭✭✭✭✭
Went and looked at a collection today. Mostly Littleton crap, state quarters, new gold dollars and a bunch of new clad stuff. The person said that anther person passed on them but bought a big chunk of other stuff. They said they didn’t want any packing, just the coins. Took all the proof eagles out of the boxes, silver proof set were cut out and all the full collections in the old “blue” books, Pennie’s to dollars. This group of slab inserts were also left behind.
What would possess someone to just take the coins and crack them out? I wish I would have been able to see what the full collections looked like.
Members I have done business with:
Silverman68, jfoot13, GAB, ricman, Smittys, scrapman1077, RyGuy, Connecticoin, Meltdown, VikingDude, Peaceman, Patches and more.
Silverman68, jfoot13, GAB, ricman, Smittys, scrapman1077, RyGuy, Connecticoin, Meltdown, VikingDude, Peaceman, Patches and more.
5
Comments
Where's the "ouch" reaction?
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
Could be that they feel the coins will sell for more raw on a site like whatnot or similar. Could also be that the buyer is going to resubmit, or if a collector prefers his collection raw. Any of the above and more reasons why.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
They bought the coin, not the slab... I'll buy and crack coins from slabs if it was cheaper than buying raw or original government packaging to put into my Dansco albums. Grades does not matter with how I collect.
Wow... would have liked to have seen the MS64 Carson City Dollars...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Like wow
Different strokes for different folks
I don’t understand the big deal and “wow’s” about cracking out such coins. It’s not like they’re highly valuable rarities at their respective grades.
As @coinbuf posted “Could be that they feel the coins will sell for more raw on a site like whatnot or similar. Could also be that the buyer is going to resubmit, or if a collector prefers his collection raw. Any of the above and more reasons why.”
A great many far more valuable and/or higher grade coins are routinely cracked of their holders for various reasons, nearly all of which relate to the pursuit of profit.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld I understand your point of view completely, so much so that it's hard for me to defend mine. I think the reason I was shocked and a bit disappointed upon seeing this post is that it's a dozen fewer slabs that could have gone to collectors who enjoy having their collection in slabs. Especially the Mercury dime with the NGC fatty label (I have a fondness for that particular combination). I guess my main quarrel with this individual who cracked the coins out is that there are so many equally nice raw Morgans and Mercury dimes they could've chosen from. (Also, they left behind the Genuine label for the 1893-S Morgan - why???)
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
Easier to throw them all into your pockets when they're out of the slabs.
Were the slabbed coins actually cracked by the buyer? I can understand pulling a coin in a mint capsule from the box and leaving that for the seller to discard, but to actually crack a few slabs and leave the shards of plastic and empty shells is really odd. With that said, over the years I've cracked a number of coins to put in my Dansco 7070, and I have all the slab inserts taped to a piece of paper I keep in the back cover. Is it possible the original collector cracked the coins and happened to keep the labels, and the buyer just had no use for the labels?
I agree with many here in that it’s no big deal to crack out coins. The thing that got me is the person who did this did it at the persons home where the collection was at. Not just buying everything and cracking them out later. There was well over 100 empty proof silver eagle boxes and close to 50 special Eagle mint boxes with 2,4 5 coin sets. The time it must of taken to do that had to be hours and to just leave all the boxes with paperwork and broken slabs (I took the labels out for the picture) doesn’t make sense to me.
Silverman68, jfoot13, GAB, ricman, Smittys, scrapman1077, RyGuy, Connecticoin, Meltdown, VikingDude, Peaceman, Patches and more.
I understand your point of view, as well.
My guess is that the buyer was extremely confident regarding the lack of downside in removing the coins from their holders and disposing of the grading labels. I can also understand collectors being bothered by such activity, but, it’s a reality of our industry.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Most likely they will attempt to regrade or resell the 64's as gem BU and the 93-o & 93-s as problem free XF.
So right off the bat we consider nefarious and highly unethical reasons as to why this collector did what he did.
What do you think is the “most likely” explanation?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Album collection collector.
(Certainly as likely, no?)
My fear was that he was buying it as scrap. 😬
I wonder what he paid for it.
I think that’s somewhat less likely, in part, because he didn’t keep the grading label for the 93-S and 1894 dollars and removed the coins from “all the full collections in the old “blue” books, Pennie’s to dollars”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Maybe they disagree with the TPG grades. I am not accusing anyone of anything. I have cracked out coins that were deemed as cleaned and sent them in and got back straight graded coins.
I remember Bryan (GSAGUY) would crack-out high grade PCGS rainbow toned Morgan dollars and place them into plexiglass holders (such as Capital Plastics). He enjoyed the overall presentation much better than the coins appeared in the PCGS or NGC slabs.
There are many collectors here, myself included, who like to crack problem-free coins out of the top-three Services and place them into either individual or groupings holders and/or albums.
We don't know the intent of collectors yet based on the limited information provided there are other explanations, I suppose.
With that stated, I am not naive enough to discount the option there are reasons based on profits and chasing after the almighty dollar. Of course that is an option. I live in a world where I hope that isn't the case and lean toward positive reasons (until proven wrong- as I often am!).
For what it’s worth, I really liked that post and it made me feel good - thank you.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
And when you said “high grade PCGS rainbow toned Morgan dollars” (emphasis on “high grade” and even more emphasis on “rainbow toned”, you weren’t kidding!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Than I shall quit while I am ahead!
Bryan was great and his coins were amazing. He was always so generous with his time and with allowing folks to be awestruck by the pieces he owned. He was one of the good ones.
In honor of the memory of Cpl. Michael E. Thompson