Was anyone else surprised to see this at NEN?

TwoKopeiki · March 10, 2009 1:03AM

Description: AU55 Detail - Cleaned. Price - $25.

I don't know about you, but i was surprised to see this level of quality coming from NEN. And for a common coin, to boot.

Anyone else?

newsman · March 10, 2009 1:11AM

Okay, next time I'll try reading the post before replying.

ajaan · March 10, 2009 1:18AM

May have gotten it in trade or a lot of coins. I like it that NEN has some lower priced coins. I think it's good for business.

Another plug for NEN here. I recently bought 5 slabbed coins from them. The shipping they charged me was actually $1.50 less than the postage on the package. Nice to see a company not rip the customer off on the shipping/handling charges.

coinpictures · March 10, 2009 1:22AM

Actually, for whatever reason, NEN actually has *SEVERAL* coins in NNC holders!!!

NNC, one of the most notorious self-slabbers on eBay. Now *THAT* is a travesty and has lowered my opinion of NEN a notch or two. I would have much more respect for them if they broke those out and sold them as raw.

I guess the current economic conditions are hitting NEN as well... so much so that they have to stoop to the level of carrying self-slabbers.

Bleagh.

[Yeah, I know that comes across as harsh criticism, but damn, guys... there are some things you just don't do.]

ajaan · March 10, 2009 1:43AM

I think that's a little harsh considering NEN says what the real grade of the coin is. It would be something else if they sold the coin as the grade listed on the holder.

JCMhouston · March 10, 2009 2:16AM

I think NEN is one of the best 2-3 companies to work with, I've been very happy wth their descriptions. They don't sell raw, so I have no problem with them offering 3rd world slabs since tey always give an honest description of the coin. I think it is unreasonable to expect them to just throw out any of these problem slabs, or low grade pieces, as long as they are honest about what you are getting.

coinpictures · March 10, 2009 2:26AM

Sorry guys, I disagree. This isn't PCI or SEGS or even NTC we're talking about here. We're talking about one of the worst offenders, akin to SGS and Hallmark. By selling the coins in self-slabber holders rather than cracking them out and selling the coins raw, NEN could be perceived as tacitly endorsing NNC simply by carrying their coins... no other major dealers do. At least that will be the *perception* in certain quarters.

For the few dollars that these crap coins would garner, it isn't worth the negative perception.

[Of course they can do whatever they want; it's their business, but this one strikes a big negative with me...]

Doogy · March 10, 2009 2:34AM

<< Sorry guys, I disagree. This isn't PCI or SEGS or even NTC we're talking about here. We're talking about one of the worst offenders, akin to SGS and Hallmark. By selling the coins in self-slabber holders rather than cracking them out and selling the coins raw, NEN could be perceived as tacitly endorsing NNC simply by carrying their coins... no other major dealers do. At least that will be the *perception* in certain quarters.

For the few dollars that these crap coins would garner, it isn't worth the negative perception.

[Of course they can do whatever they want; it's their business, but this one strikes a big negative with me...] >>

Dan,

The old Hallmark was a Q. David Bowers company, and their grading was very conservative. I had heard that someone had bought the Hallmark name and equipment and slabbed coins for about a year that were junk, those are probably the ones you are seeing. The earlier ones were spot on, or undergraded.

coinpictures · March 10, 2009 2:44AM

Hi Doug,

I'm quite familiar with the Q David Bowers (PCI-looking green label but with HALLMARK embossed in the plastic at the top) slabs; I own a few myself. Very conservatively graded by today's standards.

No, I'm referring to the white-label self-slabbers (basically Coin World holders with white... or was it gold?... labels). There was one seller just absolutely flooding the U.S. categories with self-slabbed crap under the name "Hallmark". Virtually everything was graded MS70... *barf*

Doogy · March 10, 2009 2:45AM

<< Hi Doug,

I'm quite familiar with the Q David Bowers (PCI-looking green label) slabs; I own a few myself. Very conservatively graded by today's standards.

No, I'm referring to the white-label self-slabbers (basically Coin World holders with white... or was it gold?... labels). There was one seller just absolutely flooding the U.S. categories with self-slabbed crap under the name "Hallmark". Virtually everything was graded MS70... *barf* >>

I concur 100%

TwoKopeiki · March 10, 2009 2:58AM

Am I good at starting chit, or what?

ajaan · March 10, 2009 3:03AM

<< Am I good at starting chit, or what? >>

Very good.

But you're not up to my PCGS thread yet.

Note: the coin posted is not in a NNC holder, it is raw. At least that what is implied on NEN's website.

Doogy · March 10, 2009 3:07AM

<< 

<< Am I good at starting chit, or what? >>

Very good.

But you're not up to my PCGS thread yet. >>

i'd have to agree,

Don is the current reigning King of a good chit-stirring with that PCGS pricing thread, Roman's thread here is merely a "Prince" level; that is until maybe a talk of bullion vs. coins gets thrown in here too, and Steve comes in guns blazing again!

one thing is for sure, we've had some lively discussions lately!

ajaan · March 10, 2009 3:14AM

<< Don is the current reigning King of a good chit-stirring with that PCGS pricing thread >>

Hey, I was just asking a simple question, that's all.

dizzlecc · March 10, 2009 1:13PM

I was more surprised that a big bite was taken out of their mexico 8 reales inventory. It is running thin now a days.

I think you will start seeing more pcgs genuine coins in dealer inventories. Not a bad way to start a set if the coin is lightly cleaned and still has eye appeal.

By the way, I like the way the eagles head looks polished flat. He looks like a Lucha Libre (masked wrestler).

Was anyone else surprised to see this at NEN?

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