I bought mine on ebay in capsules how can you tell what grade they are this whole grading of semi-numastics confuses me as they are all supposedly new from mint. it seems to me like somebody just wants to add layers of mark up to an otherwise stable market.
I had the same misconception early on as well. Virtually all coins from any mint has imperfections (damage) or blemishes, whether they be significant (like a strike on just half the planchet) or extremely minor (like a nick that is barely visible to the naked eye) - that's just normal when you have coin production. Many collectors seek out to own the finest examples of a particular coin but how does the average collector really know what that may look like...they are not experts and they do not see hundreds or thousands of the same coins to make such evaluations (which would include whether a strike is weaker than normal or not). So professionals (supposed experts) are tasked to do the evaluation and authentication. That's where Third Party Grading (TPG) comes in. If you buy coins directly from a mint, look at the coins very closely and I guarantee you yourself will find some kind of imperfection(s). If there appear to be none, then you are simply not using high enough magnification. Some people don't care what condition their coin is in because they only value the weight and purity of the precious metal in it. But that's not everyone. The other thing that a TPG will do is authenticate a coin. There are better and better fakes coming onto the secondary market all the time. Fakes are being made of almost every type of coin out there; rare numismatic, modern semi-numismatic, and even common bullion coins and bars. It's a sad reality. My small stack has a number of graded coins. I also have a number of blobs (common, non-denominational bullion bars and rounds) which is more what purist end-of-times stackers seek out. And this year I have become much more critical of the quality of any coin I receive directly from a mint...and since those coins are typically collector coins, I am paying significant premiums...so why not try to own fine examples of the collector coins I can if it's possible? In the aftermarket, coins with blemishes and defects do not usually sell well unless you sell them for a premium comparable to the premium you might sell a blob for. But then having bought the collector coin in the first place may have been not such a good investment if you can not realize your premium back due to the coin having blemishes? .
thanks that really does clarify things for me, my stack consists of nearly all semi numastics Perth mint and pandas mostly. Because I generally only buy small amounts at a time, mine come in capsules and iv never really spent time examining them that closely for defects maybe I should be more critical. On a slightly different note wouldn't be good if local bullion dealers with the equipment to identify forgeries could prove a service similar to TPGs by attaching a tamper proof seal stating silver content for a small fee ?
Yes, they could....and it's maybe not a bad idea. On the coins they buy directly from the mints, they would know right off the bat those were authentic. It's the coins that buy on the aftermarket that are the one's which may have high quality fakes among them. There are dealers in this forum who would certainly be able to speak with much more authority on that particular aspect than I. But, it has been known that some dealers have actually sold fakes, allegedly unknowingly, to their customers. Those fakes would have to have come in through the aftermarket and dealers in general really ought to step up their game in terms of weeding out fakes and going after those who knowingly sell them. . .
yes, im personally confident about the ones I buy from my local dealer in Melbourne but have bought some items of ebay and am only just realizing how much forgeries there are. I would hate to be accused of selling forgeries if I were to sell any of my stack in the future and would happily pay a reasonable fee to have mine authenticated. seems like a lot of others are in same boat so maybe idea could take off. If so remember you heard it here first and I want a remuneration for thinking it up (not from you personally) lol.
If you are investing in these types of issues the third party graders can add a layer of security but be aware that a slab and label can also be faked. Your best defense to familiarize yourself enough with the coins that you know what the real thing looks like. Then you will be able to spot a fake quickly as something will just be off about it. Listen to your spidey senses and you will be fine. Grading modern coins is a new phenomenon in general. What the future holds will be hard to tell. I say that as a person with a large number of graded perfect specimens. With so many coins be graded these days the Original Packaging could become the collectible thing in the future. I am not saying it will but just recommending one consider all aspects before jumping into graded coin collecting. Just like anything else....knowledge is power.
iv been watching ebay trying to spot dodgy postings, some pandas are obvious but otherwise its quite scary given the sophistication of forging. its hard to believe people would go to the bother of forging 1oz silver coins but I suppose if they can sell enough of them then it would be worth while. personally im going to stick to gold stackers and trusted silver stacker members from now on, my worry is when it comes to selling items really there is now way to prove your coins are authentic at this time
^ And I think that's why there seems to be so much buzz about the recent technology that is being offered by a company committed to helping dealers, stackers, and collectors better ascertain what is and what isn't a real silver or gold coin: https://www.youtube.com/watch?v=9K7XFJA3FJs Fast forward to 2:33 of the above video. .
