Why in the World Would Anyone Slab...

OneCent · July 30, 2008 10:47AM

A 1924-D cent in F-12? Please, tell me why?

1924-D Fine 12

Better yet, what do you think that the seller paid for the coin? $5 or $10?

1907Quarter · July 30, 2008 10:53AM

free submission

fc · July 30, 2008 11:00AM

stupidity?

to fill out a minimum submission and they had nothing better to
submit?

maybe that date/mint has a rare variety and the collector made
a mistake? sent the wrong coin?

(heck, i got pocket change that has a better shot to be worth more
then that cent if it grades high enough ;-) )

relicsncoins · July 30, 2008 11:03AM

part of a grading set.

tombr · July 30, 2008 11:21AM

Maybe the person is honing their grading skills on a lesser value coin, practicing for the eventual 14-D or 09-S VDB. I did the same thing at first. Cheaper mistakes are better than expensive ones.

Aegis3 · July 30, 2008 11:31AM

My guess... corporate brainwa^H^H^H^H^H^H^H advertising somehow convinced the submitter, though quite wrong the idea is, that coins need to be slabbed to have any value, no matter what the coin is.

Tonelover · July 30, 2008 12:07PM

Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in.

Nah, must have been because we're stupid and corporate brainwashed. Lots of great guesses in this thread, none of them correct.

OneCent · July 30, 2008 12:23PM

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in.

Nah, must have been because we're stupid and corporate brainwashed. Lots of great guesses in this thread, none of them correct. >>

Good for you. Go get em'!

fc · July 30, 2008 1:11PM

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in.

Nah, must have been because we're stupid and corporate brainwashed. Lots of great guesses in this thread, none of them correct. >>

and pcgs loves you for it.

me? i think it is the coin hobby going senile. imagine thinking that
if you wrap some plastic around the coin and put an obvious grade
on the label.. it somehow brings more enjoyment then simply
owning the coin without the plastic/label. senile!

think about it for a second.. really think about it.. a service that was
meant to authenticate and grade rare coins being used on that coin.
what conclusion would a normal person draw? oh yea... stupid.

Robb · July 30, 2008 1:13PM

Does it take you 110 pages to read a 100 page bok, fc?

BlindedByEgo · July 30, 2008 1:17PM

<< 

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in.

Nah, must have been because we're stupid and corporate brainwashed. Lots of great guesses in this thread, none of them correct. >>

and pcgs loves you for it.

me? i think it is the coin hobby going senile. imagine thinking that
if you wrap some plastic around the coin and put an obvious grade
on the label.. it somehow brings more enjoyment then simply
owning the coin without the plastic/label. senile!

think about it for a second.. really think about it.. a service that was
meant to authenticate and grade rare coins being used on that coin.
what conclusion would a normal person draw? oh yea... stupid. >>

But how do you REALLY feel, fc. Quit holdin' back

lordmarcovan · July 30, 2008 1:23PM

... for the same reason somebody would slab a somewhat corroded, circulated 1946-D Lincoln cent. I saw one in an ANACS problem slab on Teletrade, once upon a time, and almost bid on it, it was so hilarious.

COALPORTER · July 30, 2008 1:33PM

Well, it is the forth lowest mintage Lincoln , so I how about cutting someone some slack?

mrpotatoheadd · July 30, 2008 1:42PM

<< A 1924-D cent in F-12? Please, tell me why?

Better yet, what do you think that the seller paid for the coin? $5 or $10? >>

A 24-D Lincoln in F has a greysheet bid higher than an 1881-S Morgan in MS63. Of the two, which do you think has the larger certified population?

braddick · July 30, 2008 1:46PM

The 'tell' is checking this seller's other auctions.

Quite possible a full set of Lincolns was purchased and the top semi-keys sent in for grading.

BECOKA · July 30, 2008 1:56PM

Low ball registry?

fc · July 30, 2008 2:19PM

<< 

<< A 1924-D cent in F-12? Please, tell me why?

Better yet, what do you think that the seller paid for the coin? $5 or $10? >>

A 24-D Lincoln in F has a greysheet bid higher than an 1881-S Morgan in MS63. Of the two, which do you think has the larger certified population? >>

irrelevant. both are not in need of slabbing.

both coins in your example were meant to be shoved in an album
for storage or kept in a 2x2 or flip.

putting them in plastic simply shows how fruity the norm has become. the dealer thinks they can maximize their profit via the
plastic and a collector falls for it paying more then the coin is
worth if they are not careful.

the only clear winner and happy camper was pcgs!

i am just very thankful the fruitiness was held back in another hobby
i have which is collecting comic books. at least the dealers and
store owners i talk to laugh at the thought of doing such things.

my opinion is not a minority as usual.

fc · July 30, 2008 2:20PM

<< Does it take you 110 pages to read a 100 page bok, fc? >>

i notice in your BST post you ask for RAW coins! i wonder why???
oh yea....

probably because you are wise enough not to fall into the trap
of paying more then coins are worth due to the plastic.

copperfan · July 30, 2008 2:21PM

I think its just like slabbing modern bullion.

It just comes down to everyone collecting what they like.

Robb · July 30, 2008 2:31PM

<< 

<< Does it take you 110 pages to read a 100 page bok, fc? >>

i notice in your BST post you ask for RAW coins! i wonder why???
oh yea....

probably because you are wise enough not to fall into the trap
of paying more then coins are worth due to the plastic. >>

I'm just saying that you might be reading a lil' too much into it.

fc · July 30, 2008 2:35PM

<< 

<< 

<< Does it take you 110 pages to read a 100 page bok, fc? >>

i notice in your BST post you ask for RAW coins! i wonder why???
oh yea....

probably because you are wise enough not to fall into the trap
of paying more then coins are worth due to the plastic. >>

I'm just saying that you might be reading a lil' too much into it.

>>

yea i just might be. i am just so tired of seeing this trend of slabbing
coins that have no need to be. basically you have to pay for the
coin and the price of slabbing.. when most people would probably
want it for their album.. and thus the plastic gets discarded.

the only winner was pcgs.

MPLunatic · July 30, 2008 3:04PM

why not, its a semi-key date coin

Coxe · July 30, 2008 3:11PM

pop 1?

building a grading set?

mackdriver · July 30, 2008 3:15PM

I don't see what the big deal is,to each his own

OneCent · July 30, 2008 10:20PM

<< 

<< 

<< A 1924-D cent in F-12? Please, tell me why?

Better yet, what do you think that the seller paid for the coin? $5 or $10? >>

A 24-D Lincoln in F has a greysheet bid higher than an 1881-S Morgan in MS63. Of the two, which do you think has the larger certified population? >>

irrelevant. both are not in need of slabbing.

both coins in your example were meant to be shoved in an album
for storage or kept in a 2x2 or flip.

putting them in plastic simply shows how fruity the norm has become. the dealer thinks they can maximize their profit via the
plastic and a collector falls for it paying more then the coin is
worth if they are not careful.

the only clear winner and happy camper was pcgs!

i am just very thankful the fruitiness was held back in another hobby
i have which is collecting comic books. at least the dealers and
store owners i talk to laugh at the thought of doing such things.

my opinion is not a minority as usual. >>

Bingo! Great answer. And the pure profit motive in coins is what is slowly driving me out da door.

dac076 · July 30, 2008 10:57PM

<< why not, its a semi-key date coin >>

I agree. Maybe unnecessary, but not the most agregious example of over-slabbing, by a long shot.

MadMarty · July 30, 2008 10:59PM

Just like when FC rags on me about getting a AG03 or a FR02 Morgan slabbed. Maybe the person that submitted it WANTS it in a PCGS slab. Is it wrong, NO! Is it stupid, NO! I'm sure it's a collector that is enjoying the hobby! Different people collect different things. FC, if you think that all of us that submit coins that you don't approve of to PCGS are stupid, maybe you should start hanging out on the RAW coin forum!!!

Connecticoin · July 30, 2008 11:18PM

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in.

Nah, must have been because we're stupid and corporate brainwashed. Lots of great guesses in this thread, none of them correct. >>

Heh heh

Next they will call you stupid for NOT slabbing expensive raw coins, actually grading them yourself, and guaranteeing the grades.

zeus135 · July 30, 2008 11:20PM

Everyone has their own reasons for things they do. That's what makes the world such an interesting place.

Don't rule out the chance that someone got this slabbed for sentimental reasons. Imagine it was someone's father's coin, a favorite coin they carried around for years? A coin that they won a bet with, and was worth bragging about?

No reason to look down on whoever submitted it without knowing the REASON they did it. Ya just never know.................

PTVETTER · July 30, 2008 11:23PM

what is the big deal??? to each thier own.. Why bash someone who's values are different from someone else?

19Lyds · July 30, 2008 11:27PM

"A 1924-D cent in F-12? Please, tell me why? "

Maybe because not everybody is into it for the MONEY?

keets · July 30, 2008 11:30PM

i never thought i'd think that fc needs to be quiet for awhile, but apparently i was wrong. be still and let others do whatever stupid thing it is that they want to do. we can't all collect that stupid, crusty, key date whatever it is that you like. man, what an idiot for collecting that stuff......................

BAJJERFAN · July 31, 2008 1:00AM

PCGS needs a certain volume of coins coming in the door every month to maintain their business at a certain level. Many of the best/better coins have already been thru the grading process [a lot of them more than once]. There are always going to be some that will never be submitted for one reason or another as long as their current owners retain possession of them. Since the supply of raw 93-s and 89-cc or 84-s Morgans in high mint state is likely quite small, that volume has to come from somewhere. If their volume was limited to coins that truly deserve the service; they would probably be down to one grader and a receptionist.

fc · July 31, 2008 1:07AM

<< PCGS needs a certain volume of coins coming in the door every month to maintain their business at a certain level. Many of the best/better coins have already been thru the grading process [a lot of them more than once]. There are always going to be some that will never be submitted for one reason or another as long as their current owners retain possession of them. Since the supply of raw 93-s and 89-cc or 84-s Morgans in high mint state is likely quite small, that volume has to come from somewhere. If their volume was limited to coins that truly deserve the service; they would probably be down to one grader and a receptionist. >>

thus the marketing of getting coins that have a value of melt to 35 bucks in the door
and pcgs taking a cut of 1/3 to 1/2 the value of the coin.

fine! be happy wasting money if that makes you feel warm and cuddly. just do not be
shocked when someone calls you foolish!

seriously, what do you expect from people? a slap on the back of a job well done getting
a grade of F12 and AG03 on a 15 dollar coin?

i hope this nonsense is not spreading its disease to other collectors because they admire
this boondoggle due to happy talk.

braddick · July 31, 2008 1:42AM

This thread needs a "foolish, stupid, WTF" photo...

TwoSides2aCoin · July 31, 2008 1:45AM

<< This thread needs a "foolish, stupid, WTF" photo...

>>

and a sense of humor , too
Top of the Charts , Braddick.
That's perfect !

braddick · July 31, 2008 1:49AM

TwoSides2aCoin

One more, for the road...

dac076 · July 31, 2008 1:50AM

Now you've pushed me into FC's camp!

19Lyds · July 31, 2008 1:54AM

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in. >>

It seems as if the seller has responded to this thread which to me, does not seem that "stupid" in the least.

fc · July 31, 2008 2:01AM

<< 

<< Maybe because we bought a small hoard of early keys, semi keys and mintmarked pieces from the teens and twenties, had many that needed to be authenticated and figured that some collectors might enjoy having some certified low grade examples of the various dates so we threw them in. >>

It seems as if the seller has responded to this thread which to me, does not seem that "stupid" in the least. >>

it is humorous to me that a dealer cannot authenticate a low grade 24D to me.
equally humorous is that they cannot slap it in a 2x2 or flip and grade it themselves.
they pay for that service on a 15 dollar coin....

yes the dealer in this case choose the path he wish to take. i give him credit for speaking
plainly on why he did it.

it does not change the fact i think it is foolish. ;-)

BAJJERFAN · July 31, 2008 2:33AM

<< 

<< PCGS needs a certain volume of coins coming in the door every month to maintain their business at a certain level. Many of the best/better coins have already been thru the grading process [a lot of them more than once]. There are always going to be some that will never be submitted for one reason or another as long as their current owners retain possession of them. Since the supply of raw 93-s and 89-cc or 84-s Morgans in high mint state is likely quite small, that volume has to come from somewhere. If their volume was limited to coins that truly deserve the service; they would probably be down to one grader and a receptionist. >>

thus the marketing of getting coins that have a value of melt to 35 bucks in the door
and pcgs taking a cut of 1/3 to 1/2 the value of the coin.

fine! be happy wasting money if that makes you feel warm and cuddly. just do not be
shocked when someone calls you foolish!

seriously, what do you expect from people? a slap on the back of a job well done getting
a grade of F12 and AG03 on a 15 dollar coin?

i hope this nonsense is not spreading its disease to other collectors because they admire
this boondoggle due to happy talk. >>

I wouldn't waste my time submitting that either, but as long as the submitter is not using YOUR money why do you care what they do. Frankly if I was PCGS I would prefer people not submit that kind of stuff either, but what ya gonna do. The fact is that with the current size of their operation, they need a steady stream of feedstock, be it rarities or pocket change. Chevy sells lots of Corvettes to folks for whom a Chevette would suffice just fine. If their clientele was limited to those who could afford AND appreciate the qualities of the car, their production volume would no doubt be smaller and the price proportionately higher. Having people who can buy one just because they have the means ensures that it will remain viable or those who can truly appreciate the car for what it is.

originalisbest · August 29, 2008 2:51AM

fc, let me just call you out here and say:
(a) it's none of your business,
(b) for (fun! go figure) I smoetimes enjoy having key dates even in lo-grade slabbed, and
(c) - and most important, here -- jon at RCONH, and for that matter, everyone at RCONH, and probably also the guy who cleans a window at RCONH, I would bet can grade circles around 99.7% of the competition, and needs probably least of anyone the services of PCGS to confirm what they already know to be true, as far as a coin's grade. Believe it. They merely offered some slabbed (lograde) key dates as a lark - a service - a treat - call it what you will. But don't fool yourself that they don't know how to grade, not for a second. And have a nice day.

NHSBaseball · August 29, 2008 3:27AM

I just sent in a coin that might be similar in nature to this one- people scratching their heads wondering why it was submitted, etc. It is an 1829 half dime that I am hoping will grade fine- on the surface a $30-45 coin. However, it is an LM-6.3 die marriage which is an R-5 coin, and can bring a premium if certified as problem-free.

ricko · August 29, 2008 3:32AM

First of all.. people can do what they want with their coins and their money... totally a personal decision. Some people even collect beanie babies... Really, they do. That being said, I find fc's points very clear and reasonable, especially from the perspective of how it is changing the hobby in general. I do not think he is railing against the specific, so much as he is against what it connotes for the hobby of numismatics. Cheers, RickO

Casman · August 29, 2008 3:40AM

I sent in an 1891 Morgan dollar, came back AU55. It was my Grandfathers and story was he'd got it as a child around the time he came to the US, and carried it as a pocket piece. He died in 1972 and it had been lost for years. It turned up in 2007 and I had it slabbed for sentimental reasons and figured that way it would be harder to misplace...

MadMarty · August 29, 2008 3:44AM

Maybe it was a crackout from a NNC MS65?

NHSBaseball · August 29, 2008 3:48AM

<< Maybe it was a crackout from a NNC MS65? >>

19Lyds · August 29, 2008 4:03AM

I'm actually quite surprised that fc hasn't been booted for his comments. He is, after all, implying that having anything graded at PCGS is pure stupidity!

I also do not know why he even frequents these boards other than to point out the stupidiy of folks for having anything graded or slabbed!

<< think about it for a second.. really think about it.. a service that was
meant to authenticate and grade rare coins being used on that coin.
what conclusion would a normal person draw? oh yea... stupid. >>

jimmymac · August 29, 2008 5:41AM

my thougths:

the more I read on this forum and the more I learn, I feel this "slabbing" business is not for me - YES - I like looking at slabbed. MS, uncirculated coins just like you, but there's something about a coin that has been used for its intended purpose - I will take a nice coin with patina and character over some 3d party, slabbed, high-priced, overgraded coin anytime - I also have a 1924D Lincoln that I would grade as being "used" - would I ever slab it? - no way - to nice of a coin.

find it interesting that one of the B & M dealers in the area I live is putting together a PO1 type set - I wish him luck - will be nice to see all of those old "used" coins given their proper respect!!

bottom line: to each their own - there's no right or wrong way!!!!!

sumdunce · August 29, 2008 9:25AM

I have a VF25 1943 Washington quarter that I had encapsulated.

It is holdered not because of its intrinsic value (it is priceless to me).

Years ago I had an opportunity to metal detect at my grandfather’s farm with my father and grandfather. As we went around the places the “kids” played, I found a Franklin half and the quarter both of which belonged to my father (he had remembered the spot where he lost them within a few feet) when he was a kid.

I have chosen to protect the coin such that I can look upon it at any time in the future and see the coin exactly as it came from the ground (crud still in the lettering, no oil baths on this one).

I have been on this planet more than twice as long as I had been on the planet when I “found” the coins, yet to this day when I look upon the coin the memories come back clear.

However, after I shuffle off the mortal coil, I am sure someone will be posting a link about a 1943 quarter in condition not worthy of anything other than a smelting pot.

It is all in a matter of perspective, one man’s trash…

Swampboy · August 29, 2008 9:27AM

<< Maybe it was a crackout from a NNC MS65? >>

Why in the World Would Anyone Slab...

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