Slabbing an Entire Morgan Collection

ProofModerns · September 21, 2007 2:34PM

My dad has an impressive Morgan collection with every coin except the ultra-rare ones acquired over the past 25 years. All are probably MS60+ and raw, sitting in an album.

I am trying to convince my dad to have PCGS grade them all, but the cost is daunting. Does anyone know what kind of pricing PCGS would do for an almost complete collection (no 1893-S)? I think he has an equally nice and complete Peace dollar collection.

At $30 each and ~120 coins, the thought of a $3600 grading bill is something he's not willing to pay. I'd rather have $3600 in coins than plastic.

Does PCGS offer special pricing for cases like this, and does anyone know what kind of deal he can get?

GrumpyEd · September 21, 2007 3:04PM

Won't economy work for $18 each?

$2160 plus shipping?

prices

AU58WALKERS · September 21, 2007 3:05PM

why would you want to put them in plastic?

BlindedByEgo · September 21, 2007 3:07PM

If they are nice and snug in an album, and your dad doesn't plan to sell them soon, why slab 'em?

Tonelover · September 21, 2007 3:17PM

Probably a huge waste of money to just send them all in for slabbing. Many probably aren't worth enough to justify the slabbing cost, others could have problems. Best course of action is show them to a trusted dealer or collector with a good eye and submit only those in the best condition and of the highest value.

TomB · September 21, 2007 3:23PM

If you are not already fairly adept at grading Morgans then you may be in for a rather large disappointment and might be left feeling as though you have not gotten your money's worth from PCGS if many of his coins either come back as AU or are bagged. If you believe you must slab them I would suggest you send in only a few coins that are either clearly the best pieces or the most valuable pieces and then determine your next step after receiving grades.

ProofModerns · September 21, 2007 3:25PM

<< If they are nice and snug in an album, and your dad doesn't plan to sell them soon, why slab 'em? >>

I would say because some day whether next year or 20 years from now, he will sell. Might as well do it now than later for several reasons:
-Easier to insure and valuate
-Easier to sell (esp if through Ebay or auction house)
-Physical protection of the coins

oxy8890 · September 21, 2007 3:52PM

Slab through PCGS bulk if they are MS60+ for about 35% of the cost.

Also if you really want to preserve them I would get an archiving product like Intercept Shield. Low cost and well worth it on that nice of a collection.

Good Luck,

Frankcoins · September 21, 2007 4:40PM

<< My dad has an impressive Morgan collection with every coin except the ultra-rare ones acquired over the past 25 years. All are probably MS60+ and raw, sitting in an album.

I am trying to convince my dad to have PCGS grade them all, but the cost is daunting. Does anyone know what kind of pricing PCGS would do for an almost complete collection (no 1893-S)? I think he has an equally nice and complete Peace dollar collection.

At $30 each and ~120 coins, the thought of a $3600 grading bill is something he's not willing to pay. I'd rather have $3600 in coins than plastic.

Does PCGS offer special pricing for cases like this, and does anyone know what kind of deal he can get? >>

Send in the 10 highest priced ones. There is lots of demand for raw MS60 to MS63 Morgans, and I don't think it makes sense to have the rest slabbed unless there are some possible 65s.

WTCG · September 21, 2007 4:49PM

Ask any large volume submitter and they can definitely tell you that submitting coins for grading can get expensive very fast.

PCGS and NGC will offer a discounted bulk rate for large submissions, but to qualify for a bulk deal you will need to have at least 100 coins of the same date and denomination valued at under a certain value per coin (not a very high limit). I would suggest submitting for grading the key and better date coins first then sending in the other coins once your budget or time permits doing so.

BlindedByEgo · September 21, 2007 4:52PM

<< Ask any large volume submitter and they can definitely tell you that submitting coins for grading can get expensive very fast.

PCGS and NGC will offer a discounted bulk rate for large submissions, but to qualify for a bulk deal you will need to have at least 100 coins of the same date and denomination valued at under a certain value per coin (not a very high limit). >>

Actually, PCGS will allow 5 different dates in the hundred. Bulk still doesn't apply here, though.

crito · September 21, 2007 5:12PM

Slab the keys and semi-keys, leave the rest alone.

oxy8890 · September 21, 2007 6:27PM

<< 

<< Ask any large volume submitter and they can definitely tell you that submitting coins for grading can get expensive very fast.

PCGS and NGC will offer a discounted bulk rate for large submissions, but to qualify for a bulk deal you will need to have at least 100 coins of the same date and denomination valued at under a certain value per coin (not a very high limit). >>

Actually, PCGS will allow 5 different dates in the hundred. Bulk still doesn't apply here, though. >>

The limit is $300. If most of these grade in the MS60-63 range, a large amount will meet the criteria (Given this fact I see why many of you are questioning the value of slabbing the set). Those that do not meet the criteria will simply be bumped up in price. It is still a much better deal than $25-30 for each coin if they decide slabbing is what they really want to do.

BTW - There is nothing in the bulk guidelines that limit you to only 5 different dates unless those guidelines have changed in the last 60 days.

PerryHall · September 21, 2007 8:47PM

Suggest having a trusted dealer evaluate the coins first. Some may not be worth the cost of slabbing and others may be body-bag candidates.

BAJJERFAN · September 21, 2007 9:28PM

I believe that they may qualify for the bulk submission rate. I'd at least consider it and carefully look at each coin. If there are any that are doubtful I think I would just go out and purchase a replacement already in a holder. It also depends on the album they are in as to what damage may be caused by this type of storage. AirTites would be cheaper and I think there are also do it yourself slabs from ANA.

Drizzt · September 21, 2007 11:22PM

I agree with keeping the set intact raw. If you fel the need, go and buy a few MS-63's already graded and slabbed. Use them for comparison. Heck, keep the first set raw, and start a second set slabbed...

Rampage · September 21, 2007 11:25PM

I think it is a mistake to slab the entire collection. As others have stated, slab the better dates (1893-P, O, CC, and S for example). You will be happier in the long run I think.

TwoSides2aCoin · September 21, 2007 11:39PM

I didn't read all the posts, I usually try to because it gives me an understanding of others and opens my eyes a lot. We have some real smart people here. (thank everyone who posts)

If it were me ...

grade those coins that are rarer, certain VAMS, or coins in such pristine condition that they'd be protected from damage by further handling.
On the flipside of this coin :

If all weren't graded and there were body bags, or some less than desireable pieces for the "Registry" set, it would make me rethink what the heck I did with my money. I would personally not waste it on certain pieces. (Here is where the EYE is smarter than the brain, the wallet and the heart). LOGIC

Get a professional opinion of the coins first !!! Don't sell your dad on something that isn't wise and prudent.

anablep · September 21, 2007 11:55PM

Have all the CC's graded, anything from 1891-1895, anything MS64 and above, and any key/semi-key/more valuable dates (1899, 1903-O, etc.) over $300.

That's what I would do first.

LindeDad · September 22, 2007 12:16AM

May I sugest that you get a PLATINUM PCGS membership. You and your dad pick out the eight best coins in the set( key dates, highest grade, or just favorites) send them in as your free submissions.
Now to the test for $199.00 you get to see if you really want to continue on this quest.
How many come back as what you thought they were?
How many cone back in a body bag?
Cleaned, Questional color, or other fault.
For your investment of about $25.00 per coin you get maybe enouph info to see if this is what you want to do or not.

ricko · September 22, 2007 12:28AM

If such an impressive collection were mine, I would not slab at all. Until and unless I decided to sell.. then perhaps the few high value coins could be slabbed for maximum return on investment. Slabs are great for selling to those who cannot grade and for protecting the coin itself. Beyond that, you collect for the pleasure and beauty of the coins and your own enjoyment. Cheers, RickO

ProofModerns · September 22, 2007 1:57AM

Thanks for the input guys. FWIW, he is a seasoned collector. He's painstakingly acquired and upgraded every one of his coins until he got to where he is today. I'm sure he can grade a Morgan to within a grade or two. I know what you guys are getting at though - PCGS has a way of disappointing.

roadrunner · September 22, 2007 5:30AM

I've seen seasoned collectors and dealers too be consistently off in their grading. Just because someone has years in the game and is technically "seasoned," doesn't mean squat. One of my local dealers has 22 years in the business. He can't grade within a point with any consistency and often can't tell AU's from MS63's. Frequently he's several points off on unc coins. If he had a collection of raw BU Morgans I don't know what they'd look like.
I've also others than just cannot pick up hairlines to save their lives.
One very prominent 30 year dealer now in the mid-west flat out tells you he can't grade very well....and he handles high powered MS and PF coins all the time. In his case, slabdom helped him immensely.

roadrunner

tahoe98 · September 23, 2007 6:36AM

<< Probably a huge waste of money to just send them all in for slabbing. Many probably aren't worth enough to justify the slabbing cost, others could have problems. Best course of action is show them to a trusted dealer or collector with a good eye and submit only those in the best condition and of the highest value. >>

tahoe98 · September 23, 2007 6:42AM

<< Thanks for the input guys. FWIW, he is a seasoned collector. He's painstakingly acquired and upgraded every one of his coins until he got to where he is today. I'm sure he can grade a Morgan to within a grade or two. I know what you guys are getting at though - PCGS has a way of disappointing. >>

don't forget, grading is subjective..........................even for the tpgs.

i know what some may say now.................POOF!

Steve27 · September 23, 2007 6:50AM

" Slab the keys and semi-keys, leave the rest alone."

Here's the correct answer; most missed it.

UtahCoin · September 23, 2007 7:06AM

Might consider having them looked at by a reputable dealer in your area, just to make sure none of them have been cleaned or messed with. That would be a big waste of money to have them come back body bagged.

Shamika · September 23, 2007 7:41AM

<< If they are nice and snug in an album, and your dad doesn't plan to sell them soon, why slab 'em? >>

I agree. You're dad will only be disappointed if any of them come back anything less that MS63. If he's happy, leave well enough alone.

PrivateCoinCollector · September 23, 2007 7:49AM

Bulk Submissions for Morgans and Peace dollars require 100 coins regardless of date. Must have at least a 65% grading rate. The charges on my last submission were:
Charges are by grade. 63-8.00, 64-10.00, 65-15.00, 66-25.00, 67-50.00, 68-100.00.

You would have to take them out of the books and put them in Roll tubes, or they will charge to take them out of the book for you. I think the best advice is to take 5 coins that require the $30 rading fee (Greater than $300) and 5 coins that can be done at the economy tier ($18) and send them in. Be prepared to get between a third and a half come back as cleaned, altered surface or some such thing. The rarer the coin the higher the probability it will have a "problem."

Slabbing an Entire Morgan Collection

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