How is market acceptance for PCGS "Genuine" coins?

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291fifth
291fifth Posts: 25,218 ✭✭✭✭✭
in U.S. Coin Forum
Are they good sellers on:

1. Ebay

2. Teletrade

3. Major auctions

4. The Bourse floor

5. Dealer web sites

... or are they market poison?
All glory is fleeting.

Comments

  • mozin
    mozin Posts: 8,755 ✭✭✭
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    I totally avoid buying PCGS "Genuine" coins. To me, they are more of a gamble than buying raw. At least raw coins may have a chance to pass PCGS grading standards. Thanks, but I will stick to buying PCGS graded coins.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • CoinJunkie
    CoinJunkie Posts: 8,772 ✭✭✭✭✭
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    Tough question to answer.

    ANY item, "properly" priced, will be a good seller.
    My Roosevelt Dime Registry Set
  • LindeDad
    LindeDad Posts: 18,766 ✭✭✭✭✭
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    I got rid of the only one I had on eBay and don't want any more.
    BTW I sent it in for grading and they coded it, lost money on it needless to say.

    Added per later comment it was a 1893 Barber Half Dollar.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • Frankcoins
    Frankcoins Posts: 4,572 ✭✭✭
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    << <i> At least raw coins may have a chance to pass PCGS grading standards. >>



    These days, I think REAL is more important.
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • adamlaneus
    adamlaneus Posts: 6,969 ✭✭✭
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    I've never had to stoop to buy a genuine.

    But I do have at least one raw coin that would clearly 'genuine' if it was worth slabbing (which it is not).

  • MrEureka
    MrEureka Posts: 24,777 ✭✭✭✭✭
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    ANY item, "properly" priced, will be a good seller.

    While that's true, it's hard to sell a "genuine no grade" coin to somebody that doesn't know exactly what he's doing, mainly because there's less help from the price guides.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • morgandollar1878
    morgandollar1878 Posts: 4,006 ✭✭✭✭✭
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    I think that it just depends on the coin.
    Instagram: nomad_numismatics
  • CoinJunkie
    CoinJunkie Posts: 8,772 ✭✭✭✭✭
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    << <i>ANY item, "properly" priced, will be a good seller.

    While that's true, it's hard to sell a "genuine no grade" coin to somebody that doesn't know exactly what he's doing, mainly because there's less help from the price guides. >>



    Good point.
    My Roosevelt Dime Registry Set
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    I have two PCGS Gen coins in my collection and am happy with both of them.

    Here's one of them:

    image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • Sonorandesertrat
    Sonorandesertrat Posts: 5,695 ✭✭✭✭✭
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    << <i>ANY item, "properly" priced, will be a good seller.

    While that's true, it's hard to sell a "genuine no grade" coin to somebody that doesn't know exactly what he's doing, mainly because there's less help from the price guides. >>



    image

    I also suspect that the wholesale buy-retail sell spread on 'genuine no grade' coins (leaving out a few exceptions, like chain cents) is much greater than for similar coins that graded.
    This issue is not nearly as serious with early coppers, however. EACers net grade everything, including coins that the TPGs won't grade. Copper Quotes by Robinson helps a great
    deal with pricing.
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • RTS
    RTS Posts: 1,408 ✭
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    There are many PCGS Genuine coins I would consider.
    image
  • EagleEye
    EagleEye Posts: 7,677 ✭✭✭✭✭
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    I think respondents should qualify their answer by stating what they collect.

    Early coppers are more likely to be in Genuine holders than Franklin Half Dollars. Also it depends on the coin too. I've seen many coins graded Genuine that later graded at PCGS. They has been way too easy with the "Genuine" grade lately.
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • crazyhounddog
    crazyhounddog Posts: 14,250 ✭✭✭✭✭
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    << <i>There are many PCGS Genuine coins I would consider. >>



    I agree 100% image Especially the ones with questionable colorimage I really think PCGS is shooting their foot off with some "questionable color" issues. I'm not at all sure how they arrive at these conclusions on some coins I've seen in genuine slabs. Some are no problem at all....
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • MidLifeCrisis
    MidLifeCrisis Posts: 10,617 ✭✭✭✭✭
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    So far, I have avoided buying a PCGS Genuine coin for my colonial collection. But I would seriously consider it for the right coin...a well pedigreed rarity, for example.
  • JRocco
    JRocco Posts: 14,277 ✭✭✭✭✭
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    << <i>I think respondents should qualify their answer by stating what they collect.

    Early coppers are more likely to be in Genuine holders than Franklin Half Dollars. Also it depends on the coin too. I've seen many coins graded Genuine that later graded at PCGS. They has been way too easy with the "Genuine" grade lately. >>



    Couple of agreements.
    I have to smile when I see someone post a thread saying they got 8 out of 8 coins graded, and
    when you look at the submission you see Proof 69-70 graded modern bullion pieces. Now go 8 for 8
    on early copper or even early silver and you can talk.
    Secondly, I agree with you 100% in that once the door was opened for the Gennie slabs, which so many
    of us asked for, the Genuine holders have resulted in too many gradable coins being put in these slabs.
    Way too many.
    Some coins are just plain "Interesting"
  • Outhaul
    Outhaul Posts: 7,440 ✭✭✭✭✭
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    I believe that they, like many other less desireable items, have a place in the hobby.
    If you're a collector of lesser means, it may be the only way you can afford a coin in
    that price range and be assured it is genuine.

    I've purchased a number of "genuines" at reasonable prices, cracked them out, and
    use them as pocketpieces.

    Just my eversohumble opinion.

    Cheers,

    Bob
  • LindeDad
    LindeDad Posts: 18,766 ✭✭✭✭✭
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    << <i>Tough question to answer.

    ANY item, "properly" priced, will be a good seller. >>



    99¢ no reserve will move almost anything out the door. But cleaned coins listed at MS64 prices will not move anywhere IMO.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • Lakesammman
    Lakesammman Posts: 17,696 ✭✭✭✭✭
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    Agree with what's been already stated - depends. image

    Common material, it's death.

    Super rare desirable coins where perhaps 3-4 of 6 known (including those in the Smithsonian) have been repaired, that's a different matter.
    Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.
  • AnkurJ
    AnkurJ Posts: 11,375 ✭✭✭✭
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    Key dates only priced @ 30-40% under the same coin in problem free.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    I'd buy a genuine only coin if it was something that was rare and it was very heavily discounted.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • ambro51
    ambro51 Posts: 14,471 ✭✭✭✭✭
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    I have noticed in many auction catalogs....collectors selling their sets, and many have genuine pieces included to make years, etc etc...so I think collectors who have not partaken enough kool aid to find them poison...still consider the coin inside the plastic instead of the plastic period.

    They sell like crap from what I see.

    I would wager on the open market the very same coin .....IF authenticity is not an issue...would sell for more $ !!!RAW.

  • ColonialCoinUnion
    ColonialCoinUnion Posts: 10,087 ✭✭✭
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    << <i>Common material, it's death. Super rare desirable coins where perhaps 3-4 of 6 known (including those in the Smithsonian) have been repaired, that's a different matter. >>



    Ditto.
    Coin Rarities Online
  • ambro51
    ambro51 Posts: 14,471 ✭✭✭✭✭
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    I have one. I paid what I figure to be 15 - 20 percent of fair value, if 'undamaged'. the 1856 D is a true rarity of the series, in 40 this lists at 7K, I paid 1499. Code 82, filed rims (hidden by the gasket). This is one with maybe 85 or so known....pretty rare as key dates go.


    imageimage
  • AMRC
    AMRC Posts: 4,280 ✭✭✭✭✭
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    For some coins it is better to be in Genuine then raw. Think of a Trade Dollars on eBay. Anytime I get in a Trade Dollar no matter how bad, it goes in because of the stigma associated with a raw Trade Dollar.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • scottgardener
    scottgardener Posts: 1,205 ✭
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    I would consider a Genuine coin for a rare date and mintmark or early date--or any other coin that I might not otherwise be able to afford. Given the choice between a coin that is VG or F and one that looks nearly uncirculated but has been rubbed or wiped a few times, I would certainly consider it.
    Improperly Cleaned, Our passion for numismatics is Genuine! Now featuring correct spelling.
  • AnkurJ
    AnkurJ Posts: 11,375 ✭✭✭✭
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    With some early american copper coins, its quite tough. Even some that are in problem free holders really should not be.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • BigRick
    BigRick Posts: 1,334
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    Good.
    My Sets
  • rlarick
    rlarick Posts: 230
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    I purposely look for Lincolns graded genuine for purposes of comparing to raw. I actually have the thought of an entire set! I also have genuines that the damage was so minuscule, it borders on uh...... I think it was a label error .... and just what is filed rims anyhow? I have others that side by side with graded slabs I doubt anyone could pick it out. I recently got one from a member here who was none to happy that coin 25 yrs in his safe came back 91

    So I haven't learned anything other than you can get a lot of these coins for next to nothing that are often well struck, just a funny shades of red and orange, funny colors just like green, pink, blue, magneta, rose and purple toners!

    So if you have Genuine Well struck Lincolns, let me know. Call me what you want. I like them. I think they are fun!
  • Rollerman
    Rollerman Posts: 1,908 ✭✭✭✭✭
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    I just purchased my most expensive single coin to complete a year set of CBH's. It is, the 1815/2 of course. It is in a PCGS Genuine holder, but appears to grade XF40 or perhaps a bit better (I don't have the coin yet, just going from the pictures). I can't see where the coin has been cleaned (but that's why it's in a "Genuine" holder).
    This option to me was better than either never having that coin OR having one that grades way less than the rest fo the set.
    I figure I saved about 30%, and have a coin that isn't counterfeit, and it may grade if I resubmit (something I'm not likely to do, since I think it's kind of a racket). I thought about submitting it to another TPG service, but will likely leave it as is. (To me a PCGS Genuine coin is more valuable than a graded "off brand" holder). The rest of my set is raw (some of which I cracked out of graded holders).
    I also have an AU 1908 $5 gold piece in a Genuine holder, it's a nice piece (surfaces) and only set me back a touch over gold money. What my kids get for it after I'm gone, I could care less. image
    Is my thinking on this goofed up??
    Pete
    "Ain't None of Them play like him (Bix Beiderbecke) Yet."
    Louis Armstrong
  • speety
    speety Posts: 5,424 ✭
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    << <i>Agree with what's been already stated - depends. image

    Common material, it's death.

    Super rare desirable coins where perhaps 3-4 of 6 known (including those in the Smithsonian) have been repaired, that's a different matter. >>



    How 'bout 9 known but tooled? image
    Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!

  • jt88
    jt88 Posts: 3,564 ✭✭✭✭✭
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    << <i>

    << <i> At least raw coins may have a chance to pass PCGS grading standards. >>



    These days, I think REAL is more important. >>



    I totally agree with you "REAL is more important” When PCGS will show coin online? I really hope they will do this very soon. I just bought a PCGS graded coin eBay. Someone told me the coin is fake or the holder is fake. I just cancelled the transaction. If PCGS still don’t want to change this, I am sure NGC will take over PCGS as a leader.

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