How many here use PCGS services, or buy slabbed coins ? I think slabbed coins are not very popular here in Australia. I'm tempted to buy a few earlier US coins though, and am thinking PCGS slabbed coins may be the way to go. EDIT : removed the youtube uploads on PCGS grading .. find them here http://forums.silverstackers.com/topic-57139-pcgs-coin-grading-101.html
I only have one, an Australian 1959 proof sixpence. I think slabbing is only really worth it when there is a huge monetary value in the tiny grade differences, ie MS63 and up, or when there are questions of authenticity that swirl around very rare issues. Having said that, I find that lower grade Australian pre decimal proofs can be hard to pick sometimes - I often see unslabbed 'proofs' for sale on eBay that are probably just uncirculated general issue coins. In that case having a PCGS slabbed coin probably does serve some purpose. I am primarily an ancient coin collector, and in that field I believe slabbing is a joke. When a coin is 2000 years old, eye appeal outweighs grade.
I have a few, they were more of an experiment to see how Aus grades went against PCGS. Overall I think PCGS do a good job and any high value coins I purchase from now on will be in slabs or destined to be slabbed, I think that it removes any arguments about grades when it comes time to sell. They are now a lot more common in the Australian market place.
I get about 25 coins slabbed a month now. I wouldn't try to sell a high grade/value coin without it nowdays with the number of fake/tampered with coins out there.
I was recently warned by an Apmex buyer about PCGS slabbed coins. They believe the PCGS slabbing process contributes to coin spotting problems. I believe he was referring to silver, so maybe your coin would not be affected.
Question: from my observations it seems NGC> PCGS. What's the main reasons for this? Is it mainly because NGC has been around longer?
I would have to say the opposite JDM, PCGS will 9/10 achieve a higher sale price than NGC for the same coin. If you want to see this, check out the NGC website for U.S coins and see the difference in NGC and PCGS for the same grade. Same thing happens with aussie. One theory for this is that NGC are viewed as grading easier than PCGS. NGC is useful in some cases, for example, if you want to grade an ancient coin. I would also have some more confidence in hammered coins graded by NGC (in terms of grading accuracy). For the run-of-the mill Aussie coin, sent it to PCGS. Some also argue that ANACS is better for world gold, although I don't know how true this is.
waste of time, pay more and halve your potential re-sale audience. Spend the time to learn to grade, appraise each coin doing your own due dilligence.. Don't leave major investment decisions to PCGS and rely on US graders to tell you the condition of a coin you are about to buy. The best museums in the world with the rarest coins DO NOT slab.. they leave them as is.. you need to see the rim and view the coin from a cm away which is impossible through a slab Lastly.. a stack of slabbed coins will rob your safe of space - so youll need a whole safe just for slabbed coins or risk getting robbed. way easier to buy unslabbed, cheaper and better. I am lucky i got them (slabs) out of my system as a child with baseball cards.. its a pump and dump industry invented in America to "add value" to a collectable. Look how much difference a slabbed card makes now.. when the coins lose popularity the price you paid for slabbing will erode or go negative. 1for1
I agree with alot of what you say 1for1, I think for ancients grading is a farce. I do, however, see value in grading proofs and other spec coins, it helps preserve the coin. I've seen many coins be ruined by 2x2 flips and other devices. I also think having some graded coins and sending some off for grading is a part of the hobby and slabbed coins do have a large following. Slabbed coins also have a benefit when selling online/not in person. The vast majority of my coins are not slabbed, however, I'm glad some are and I do see value in buying a slabbed coin. Not for the slab, for the coin! I've sent some interesting coins for slabbing just to see how they come back, if I dont agree and dont like what they've put on the slab, I can simply remove the coin.
If you buy coins straight from Perth, U.S., Royal Canadian Mint, WHY HAVE THEM GRADED??????? It doesn't make sense. Proof is proof from the Mint. Who cares if it's a 69 or 70??? It's only a persons opinion... I think coins left in the OGP is the way to go. Another reason is when these grading companies take your coin(s) out of the OGP rappings, All the elements "attack" your coins, Plus, Who's to say if they touch the front and back of your coins.. Think about it. The prints wouldn't show up for many months or years. Well I guess it's the new generation... First strikes. Early releases... blah blah blah blah blah. People buy the STICKERS Not the COIN(S).
I actually see it as a boost to the numismatic industry. it makes coin collecting more mainstream and approachable to people without the time or energy to learn the ins and out of grading that often takes years to learn with just 1 series of coins much less every coin out there. For instance who here knew that the obverse strike is often weak on a 1942m threepence and as such lustre is the most important factor when deciding grade and you need to overlook strike quality that may appear to be wear? or that a 1951 half penny is rare to find in unc with an intact planchet due to planchet issues they had with this year? I am not saying that I cant grade a coin and decide its value with my experience and knowledge. But if we want to avoid a repeat of the Rare Coin company fiasco where coins constantly got over graded by a company with a vested interest to sell to mum and dad investors then we need to embrace third party independent, competent and guaranteed grading offered by companies such as pcgs. Also I for one would like to see more people buy rare coins as an investment, not just as hobbyist, as it will add value to my personal collection by increasing the size of the market but I know this will not happen till some sort of confidence is restored to the industry. and 1for1 some of the best museums in the world with the rarest coins are responsible for cabinet shuffle hairline scratches due to the way they have stored their coins (in velvet lined trays) in the past so they don't always get it right.
Have to agree with what's been said about newer bullion rounds like ASE's being slabbed .. seems a waist of time, but hey, each to their own. Was thinking more about unfamiliar (to me at least) older US coins. A slabbed coin from a grading service like PCGS seems to give some comfort that the coin in the slab is authentic, and as others have mentioned, there is a no argue grading on it. I've heard it mentioned before "Buy the COIN .. NOT the slab". That seems very logical to me, and have to agree with that statement. I don't have any coins to slab, or own any slabbed coins ATM .. just thought I'd try a tentative toe in the water . lol Thanks for the input all.
Have to agree 1for1, due dilligence is important in anything you buy. Am trying to slowly get my head around basic grading for Australian coins at least .. can be hard for coins you see on the net though.
