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How do people afford to submit coins?
bigtime36
Posts: 965 ✭✭✭✭
I have coins that I want to Submit but id break the bank doing so, I guess graded coins are just out of my league.
Collect raw morgans, walkers, mercs, SLQ, barber q. Looking at getting into earlier date coins pre 1900s.
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1. Buy coins that are already slabbed.
2. Collect uncertified. There's nothing wrong with it.
3. Don't bother slabbing coins where the cost of slabbing is, say, 5% or more of the value of the coin. (Pick your own number if that one is too high or low.)
4. Sometimes slabbing can increase the value of a coin (but never count on it).
coin for slabbing to PCGS (or anyone else) until just a couple of years ago. Had
50 years of enjoyment with my raw coins. Only slabbed them to protect them and
anticipating the day I'd sell off for retirement (that started last January).
So, just hang in there and don't worry. 2x2's and envelopes work just fine.
bob
Every once in a while, I come across a really nice, raw coin that I believe deserves to be slabbed - for future protection and to maybe gain a little value. But those are far and few between. I have plenty of raw coins in 2x2s that I enjoy owning that will never be slabbed.
Like this one. I bought it at Fort Worth ANA for under $20. It's been cleaned, but I like it.
Or this CBH. I carry it with me as a pocket piece and boy it gets people's attention. Most non-numismatists have never seen one and this one has great detail. Unfortunately it also has a few deep scratches. LOL
But, my point is that a coin doesn't have to be slabbed to get pleasure from owning it.
Best regards,
Dwayne F. Sessom
Ebay ID: V-Nickel-Coins
My V Nickel Registry Set - https://pcgs.com/setregistry/alltimeset/71874
EYE wonder the same thing about them "one armed bandits" at the casinos, ... how can people afford to insert coins ?
``https://ebay.us/m/KxolR5
they have a coin that is worth X dollars in Y grade.. but just maybe
it will grade Y+1 and thus it will sell for a lot more... making it feel
like gambling in a way. Be it a crack out or raw.... they know the spreads.
take people who submit moderns. in their heads they figure out how many
70s they need to make some good money while the 69s are "failures" that
is the cost of playing the game.
but i agree with you. i never got into the submitting game because the costs
are "silly" for what I was personally collecting. I just bought slabbed. I never got
into the "game" aspect of submitting coins and hoping to hit the "lottery".
About a dozen were for coins I planned to keep.
The rest were generally moderns from the mint that I bought to flip. Those paid for themselves when it came to price of submission.
If I were keeping EVERY coin I submitted, there would be a lot less that I would submit.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>i think many submitters sort of consider it a form of lottery.
they have a coin that is worth X dollars in Y grade.. but just maybe
it will grade Y+1 and thus it will sell for a lot more... making it feel
like gambling in a way. Be it a crack out or raw.... they know the spreads.
take people who submit moderns. in their heads they figure out how many
70s they need to make some good money while the 69s are "failures" that
is the cost of playing the game.
but i agree with you. i never got into the submitting game because the costs
are "silly" for what I was personally collecting. I just bought slabbed. I never got
into the "game" aspect of submitting coins and hoping to hit the "lottery". >>
Interesting analogy - a lottery. Never really thought about it that way. Kind of makes sense though.
Cheers,
Bob
<< <i>I just like my coins in holders. They're easier to store and carry. I own so few coins that the monetary investment isn't huge. >>
....if its just for the holder, CoinWorld sells holders cheap!......again, if its just for the holder.
......I collect old stuff......
<< <i>
<< <i>i think many submitters sort of consider it a form of lottery.
they have a coin that is worth X dollars in Y grade.. but just maybe
it will grade Y+1 and thus it will sell for a lot more... making it feel
like gambling in a way. Be it a crack out or raw.... they know the spreads.
take people who submit moderns. in their heads they figure out how many
70s they need to make some good money while the 69s are "failures" that
is the cost of playing the game.
but i agree with you. i never got into the submitting game because the costs
are "silly" for what I was personally collecting. I just bought slabbed. I never got
into the "game" aspect of submitting coins and hoping to hit the "lottery". >>
Interesting analogy - a lottery. Never really thought about it that way. Kind of makes sense though. >>
I have sent in a few Morgans that I bought as raw 64s and they came back 65-66, you're darn tootin it was money well spent
<< <i><< I just like my coins in holders. They're easier to store and carry. I own so few coins that the monetary investment isn't huge. >>
....if its just for the holder, CoinWorld sells holders cheap!......again, if its just for the holder. >>
Fine...and they're usually worth more in holders.
I can understand your thinking. Playing "the giant game" can cost you some bucks. But, if you know how to grade, you can do very well with the TPGS. Not to mention getting your coins protected at the same time. As they say, knowledge is power.
Recently, I found a "raw" 1946DDR Walker lurking in one of my sets. I knew that the coin would slab as an Au58---which put the value at a solid 200 bucks. Since I virtually had "nothing" in the coin, I decided to give it to PCGS. And, I honestly was hoping for an MS grade. It was a really nice piece and I wanted it for my registry set.
So, I sent it in by itself----swallowed hard at the 60 buck fee. It came back graded a PCGS Ms62. That then made it worth appox. 500 bucks. I have since turned down a 500 offer as I wanted to keep the coin for myself. That coin went from a coin that I didn't even know that I had to a 500 value----for the price of the slabbing fee and postage and insurance.
My advice is to just be selective in what you try to have holdered----and start out slowly----sending in only a few of your best pieces. That should tell you whether you are good enough to try for a few more. If you do poorly, that means that you need to study more and get better educated. Good luck. Bob [supertooth]
If you choose , you may buy them back and pay the grading fee's then
<< <i>bigtime 36
I can understand your thinking. Playing "the giant game" can cost you some bucks. But, if you know how to grade, you can do very well with the TPGS. Not to mention getting your coins protected at the same time. As they say, knowledge is power.
Recently, I found a "raw" 1946DDR Walker lurking in one of my sets. I knew that the coin would slab as an Au58---which put the value at a solid 200 bucks. Since I virtually had "nothing" in the coin, I decided to give it to PCGS. And, I honestly was hoping for an MS grade. It was a really nice piece and I wanted it for my registry set.
So, I sent it in by itself----swallowed hard at the 60 buck fee. It came back graded a PCGS Ms62. That then made it worth appox. 500 bucks. I have since turned down a 500 offer as I wanted to keep the coin for myself. That coin went from a coin that I didn't even know that I had to a 500 value----for the price of the slabbing fee and postage and insurance.
My advice is to just be selective in what you try to have holdered----and start out slowly----sending in only a few of your best pieces. That should tell you whether you are good enough to try for a few more. If you do poorly, that means that you need to study more and get better educated. Good luck. Bob [supertooth] >>
Very nice approach!
<< <i>I get far more enjoyment out of my raw coins. >>
I do too, but I also recognize that there is a chance that I will want/need to sell my coins at some point.
RYK gives a good couple of rules for people like me- good advice, I try to buy graded pieces only now, if I can't see the coin in person.
WTB: Barber Quarters XF
But whats really disappointing is to pay a couple hundred for a coin that looks really nice, only to find it had altered surfaces or retooled rims. With the submission fee and the insured shipping etc., its about $20 per coin. So you might want to think twice about slabbing something you paid less than 10 for.
It was a humbling experience, but from now on I either very carefully check the coin out before submission, or just buy them. I sent in a few coins that I bought from a fairly reputable dealer Ed Lee, and found his 'grades' to be about 1 too high compared to the actual grade.Now If my name was Ed Lee, I might have gotten a slightly higher grade - or maybe not. I dont know.
<< <i>I sent in a few coins that I bought from a fairly reputable dealer Ed Lee, and found his 'grades' to be about 1 too high compared to the actual grade. >>
Devil's advocate time again- what, exactly, is "the actual grade"? Did Ed Lee claim to use PCGS's grading standards for the coins he sold you?
<< <i>
<< <i>I sent in a few coins that I bought from a fairly reputable dealer Ed Lee, and found his 'grades' to be about 1 too high compared to the actual grade. >>
Devil's advocate time again- what, exactly, is "the actual grade"? Did Ed Lee claim to use PCGS's grading standards for the coins he sold you? >>
I think we are at the point where PCGS is the implied standard. I mean what if I sell coins and decide I want to use the SEGS standard but dont come out and say it. Just call it a standard and grade everything MS67. If there were other acceptable standards in place then maybe I cans understand but PCGS has pretty much taken over.
Step two empty it to pcgs
<< <i>I think we are at the point where PCGS is the implied standard. >>
I would disagree- "implied" isn't far removed from "assumed", and everybody knows what happens when you do *that*. And I'd think the folks who publish this book might also disagree:
Personally, I've never submitted any coin to any service for their "opinion" as to grade. Further, I've only bought two slabbed coins, both were NNC over-graded third-party TPGs! that I cracked out and put in albums.
I do have a number of PCGS and NGC slabbed coins that I received as gifts.
I imagine I have some raw coins in my collection that are worthy of slabbing, like the 2006 Reverse Proof SAE dollar or the 2008-W reverse of 2007 Unc. SAE. But it seems such a hassle and huge expense to entomb these or any other coins in "official" TPG plastic.
I recognize the value of this service for rare and expensive coins, but I will never understand why collectors would submit modern coins for certification, nor will I understand the motives of those who submit Poor and Fair coins for certification, which inevitably means the actual grading and slabbing fees are multiples of the value of the entombed coins. JMO.
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BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
<< <i>
<< <i>I think we are at the point where PCGS is the implied standard. >>
I would disagree- "implied" isn't far removed from "assumed", and everybody knows what happens when you do *that*. And I'd think the folks who publish this book might also disagree:
When people go to fork money over for a coin these days do they look more at that book or at the insert in the plastic? Im not saying something is ideally better than the other, but the reality is what it is.
Fist rule of submitting is to know how to grade.
BTW... these arrived today from Colorado:
1939 D 5C REV OF 1938 DDO #1 65
1942 P/P/P 5C RPM-7 65
1942 P/P 5C RPM-5 64
1942 P/P 5C RPM-23 64
1942 P/P 5C RPM-1 64 5FS
1942 S/S 5C RPM-12 65
1943 P/P 5C RPM-4 64 5FS
1943 P/P 5C RPM-4 65 5FS
1943 P/P 5C RPM-14 64
1943 P/P 5C RPM-44 65 5FS
1943 D/D 5C RPM-1 65
1943 D/D 5C RPM-7 66
1943 D/D/D 5C RPM-3 63
1943 S/S 5C RPM-8 65
1943 S/S 5C RPM-8 66
1943 S/S 5C RPM-6 65
1944 P/P 5C RPM-3 64
1944 P/P 5C RPM-3 65
1944 P/P 5C RPM-3 65
1944 D/D 5C RPM-2 65
1944 D/D 5C RPM-4 64
1944 D/D 5C RPM-4 65 5FS
1944 D/D/D 5C RPM-5 64
1944 S/S 5C RPM-1 65
1945 P/P 5C RPM-14 63
1945 P/P 5C RPM-14 64
1945 P/P 5C RPM-14 65
1945 P/P 5C RPM-2 64
1945 P/P 5C RPM-53 65
1945 P/P 5C RPM-22 65
1945 P/P 5C RPM-53 63
1945 P/P 5C RPM-67 64
1945 D/D 5C RPM-1 64
1945 D/D 5C RPM-10 63
1945 D/D/D 5C DBL DIE REV RPM-24 64
1945 D/D/D 5C DBL DIE REV RPM-24 65
1945 D/D 5C RPM-27 66
1945 D/D 5C RPM-7 65
1945 D/D 5C RPM-44 63
1945 D/D 5C RPM-45 64
1945 S/S 5C RPM-1 65
1945 S/S 5C RPM-4 63
1945 S/S 5C RPM-9 64
1945 S/S 5C RPM-10 64
1945 S/S 5C RPM-10 64
1945 S/S 5C RPM-10 65
1945 S/S 5C RPM-15 64
1948 D/D 5C WRPM-003 64
1953 S/S 5C RPM-4 66
1954 S 5C DDR-001 63
1954 S/S 5C FS-502 RPM-001 64
1955 D/S 5C FS-501 OMM-1 64
It was a nice day... and these won't leave, so don't ask.
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
Camelot
<< <i>I get the grading money ,by holding up liquor stores.
AB
AB
<< <i>.
Like this one. I bought it at Fort Worth ANA for under $20. It's been cleaned, but I like it.
Best regards, >>
Nice repunched date on this coin!
http://www.shieldnickels.net