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A 7070 Type set question for you vets out there?
stinkinlincoln
Posts: 2,733 ✭
I have yet to start this set, but hope to pretty soon. My question is this, I plan to buy the majority of the coins already certified by PCGS. I love how the set looks in an album, but cracking the coins out puts me off abit. Im not so much concerned with resale or anything, just storage, protection, and security mainly. I plan to build this set and hold on to it for a long time to come, but I do want to enjoy the coins.
So I guess it all boils down to if you have built this set, bought slabbed coins then cracked them out, have you come to regret it or are you happy with your choice to crack them out?
Thanks in advance for your thoughts.
So I guess it all boils down to if you have built this set, bought slabbed coins then cracked them out, have you come to regret it or are you happy with your choice to crack them out?
Thanks in advance for your thoughts.
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cracked all of them out and have since upgraded some with other certified coins that I cracked out.
had 0 problems recouping my money on the raw coins from a local dealer that likes quality.
CRACH 'EM OUT and enjoy!
Aggie
Billet7 = quote of the year...so far (IMO).
Aggie
<< <i>I have yet to start this set, but hope to pretty soon. My question is this, I plan to buy the majority of the coins already certified by PCGS. I love how the set looks in an album, but cracking the coins out puts me off abit. Im not so much concerned with resale or anything, just storage, protection, and security mainly. I plan to build this set and hold on to it for a long time to come, but I do want to enjoy the coins.
So I guess it all boils down to if you have built this set, bought slabbed coins then cracked them out, have you come to regret it or are you happy with your choice to crack them out?
Thanks in advance for your thoughts. >>
I started out working on a 7070 set made up of all coins that were cracked from proof sets and/or PCGS or NGC slabs. I wanted to go for all of the coins to either be in AU or MS. Started buying a bunch and cracking several. When I was faced with the prospect of cracking out a slabbed AU Classic Head Cent (around $3k-$4k) and AU Seated Dollars (around $1k-$2k each) and several other coins that were valued at $500 to several thousand each, I had a major change of heart. Unless you know it's a coin that you'll keep in your album for a very long time, don't crack it!! You'll have a much harder time selling/trading your formerly slabbed coin. Even if you send them back in for grading, you will likely not get the same grades... not too fun.
Here's a link to the thread I posted awhile back about my cracking experience, might be of interest to you... Cracker's Remorse Thread
Good luck
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Personally, the only coins I'd crack for my 7070 are issues where counterfeits are legion and I'm unfamiliar with the diagnostics of a genuine coin, things like the Seated and Trade dollars. I'm comfortable buying most of the coins raw, especially in the grades I can afford (VG to VF).
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
If you can afford to build a set in uncirculated grades, a few bucks worth of plastic shouldn't stand in the way of cracking coins out and enjoying your set.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I would not crack out.
Get yourself one of these from Eagle Coin Holders.
Attractive display, physical protection, and the ability to retain the "value" of certification.
And by the way CRACK EM
In honor of the memory of Cpl. Michael E. Thompson
A couple of cautionary words though: I did have a few miscues at first in purchasing raw. I bought a couple of obviously cleaned coins, but I keep them around to remind me not to do that again... no matter WHAT the seller tries to tell you and no matter how much the discount is.
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.
You could have gone with 9-22 (brc-abl) and gotten all of your coins from Philidelphia...
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.
K S
Rather, I'd fill what slots I could from my existing collection, buy nice problem free but lower grade fillers raw for the older tougher types, and then selectively upgrade, cracking slabs only when absolutely necessary, and then only when the coin is high end for the grade on the slab.
I'd think twice about cracking a lot of coins in this environment, and to do again, much of my 7070 set would be in the Eagle slab album that other posters have mentioned.
Someday I'm going to have to submit quite a few of the coins and get them in plastic to be able to sell them for "all the money".
To do again, I'd probably try to do the whole set in "dirty fine" condition and save the big money for nice, slabbed early type coins of series the 7070 doesn't cover.
Liberty: Parent of Science & Industry
To be clear encapsulated coins are less common in Europe than in USA.
Edited to add: If doing the gold page cracking out encapsulated coins might be wise, the premium is not great and authenticity is assured. Unfortunately I have experience in this matter having bought a counterfeit $20 gold piece some years ago.
I have a mixture of raw and slabbed in my 7070. The set is XF and better. I have no qualms cracking out coins that are less than $1000.
BTW... I like Baley's suggestion. I'm trying for an average grade of 53. Some are obviously easier than others and the money one would save between a VF grade and an upper end AU grade is substantial for certain pieces... Classic Head LC or CBQ for instance.
Good Luck in whatever you decide.
Leo
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.
<< <i> have you come to regret it >>
Yes. Now I wish they were still in the slabs.
<< <i>Besides there is a whole other world out there that you can tap into if you are not concerned with certification.
Billet7 = quote of the year...so far (IMO).
Aggie >>
Thanks Aggie.
It's true that being 'out of plastic' can make a coin harder to sell. Having said that, I have found it it is fairly easy to sell a cracked-out coin at a fair 'as though in plastic' price if the following conditions are true:
a) you save the insert
b) you took a picture of the coin in the holder
c) you can take *really good* pictures of the raw coin, when the time comes to sell
d) *most important* you know the coin to be solid for the grade, and/or the price drop to the next grade down is not a big deal.
Point (d) is an important one. Cleveland half in MS63? Go ahead and crack. Baggy seated dollar in AU58? Could be a big drop to 55, and grading on these is all over the place. Think twice, or better yet buy the nicest AU55 you can find instead -- and then break it out.
I agree that gold should probably be slabbed if you are not sure of being able to verify.
Just watch for slide marks, be careful!!