To slab or not to slab?

To slab or not to slab?

Post by BCummi49 » Sat, 20 Sep 1997 04:00:00



I have been collecting coins for about 30 years and have quite a few
valuable specimens;(100$ and up)About 90% of these coins are raw.  .As I do
not ever plan to sell my collection but pass it down to my grandson, I was
wondering if it would be worth it to have the more pricey ones slabbed or not?

 
 
 

To slab or not to slab?

Post by Robert Saviloni » Sun, 21 Sep 1997 04:00:00




Quote:
> I have been collecting coins for about 30 years and have quite a few
> valuable specimens;(100$ and up)About 90% of these coins are raw.  .As I
do
> not ever plan to sell my collection but pass it down to my grandson, I
was
> wondering if it would be worth it to have the more pricey ones slabbed or
not?

> Thought I'd throw my 2 cents in.. After returning to the hobby after

twenty five
years.. ( they didn't have "slabs" back then" ) I"ve noticed  what I think
is an alarming
trend. I've attended a coin show almost every weekend                  
for the last 8 weeks.  There is a definite split in the hobby over "raw' vs
'slab'. I've seena lot of slab coins that were pretty ugly for the grade
and the dealers swear that theyare gems based on the slab.  We'll after you
look at enough coins you can tell which ones look good or bad.. I think
that people are being mis-lead into thinking that because the slab says
MS-65 or 64 or whatever that they are guaranteed that price when selling or
trading.. I don't feel that's the case. I recently purchased five slab
proof dimes for $6.00 each.. They cost 15.00 to 20.00 each to slab.. so
who;s kidding who.?
A good coin will always hold its value to a knowledgeable collector and a
overgraded
slab will be just that regardless of what kind of holder it's in.
I hope to hear other peoples comments.

 
 
 

To slab or not to slab?

Post by Frank38 » Sun, 21 Sep 1997 04:00:00


I am a definite advocate of slabbing - nothing is perfect, but the slabs
themselves are good protection for the coins, it's good to have a third
party opinion of authenticity, and (lowest on my list) it's good to have an
opinion about the grade of the coin.

I don't know if you are a member of the ANA, but if you are, you can
submit to NGC directly (or sign up to submit to PCGS directly).   I also
like ANACS which accepts direct collector submissions and has a nice,
small, easy to store holder.

$100 is about right, in my opinion, for the lowest value coin to be slabbed.

Let me know what you decide!

 
 
 

To slab or not to slab?

Post by John Alma » Sun, 21 Sep 1997 04:00:00


Quote:


>Subject: To slab or not to slab?
>Date: 19 Sep 1997 23:56:42 GMT
>I have been collecting coins for about 30 years and have quite a few
>valuable specimens;(100$ and up)About 90% of these coins are raw.  .As I do
>not ever plan to sell my collection but pass it down to my grandson, I was
>wondering if it would be worth it to have the more pricey ones slabbed or not?

If you do not intend to sell your collection, I see no point in having it
slabbed..By the time your heirs get the coins, the grading standards may have
changed several times over..
John
-------
Contact us at Gulf Coast Coin and Jewelry
P.O.Box 27115, El Jobean, Florida 33927 U.S.A.
Tel: (941) 255-8252  Fax: (941) 627-9557

WWW: http://www.golden.net/~vargamz/rarecoin.htm
 
 
 

To slab or not to slab?

Post by TOMDORS » Mon, 22 Sep 1997 04:00:00


As I do

Quote:
>not ever plan to sell my collection but pass it down to my grandson, I was
>wondering if it would be worth it to have the more pricey ones slabbed or not?

You have to weigh the cost of slabbing (around $15/coin) against the fact
that it increases the marketability of the coins.  Maybe your grandson
plans to keep them forever--or maybe he will sell them (most heirs do).  If
he decides to sell, slabbing will make the collection easier to appraise
accurately and easier to sell.

Regards, Tom

 
 
 

To slab or not to slab?

Post by Martin Berkma » Mon, 22 Sep 1997 04:00:00


Quote:
> twenty five
> years.. ( they didn't have "slabs" back then" ) I"ve noticed  what I
think
> is an alarming
> trend. I've attended a coin show almost every weekend                      
> for the last 8 weeks.  There is a definite split in the hobby over "raw'
vs
> 'slab'. I've seena lot of slab coins that were pretty ugly for the grade
> and the dealers swear that theyare gems based on the slab.  We'll after
you
> look at enough coins you can tell which ones look good or bad.. I think
> that people are being mis-lead into thinking that because the slab says
> MS-65 or 64 or whatever that they are guaranteed that price when selling
or
> trading.. I don't feel that's the case. I recently purchased five slab
> proof dimes for $6.00 each.. They cost 15.00 to 20.00 each to slab.. so
> who's kidding who.?
> A good coin will always hold its value to a knowledgeable collector and a
> overgraded
> slab will be just that regardless of what kind of holder it's in.
> I hope to hear other peoples comments.

There certainly is a split. I am not vehemently against slabs, but consider
them quite an improvement to the entire hobby. Regardless of what the grade
says, the slab is the most protective holder you can put a coin in. This is
a way to keep coins in the same condition for generations to come. If the
certification services came in the 1950's, we would have a lot more
unblemished rarities! While putting together a few pedigrees, I have
noticed that rarities have gone from sparkling gems to cleaned, toned,
nicked, mishandled MS-60s.

Also, the slabs protect sellers who may not be terribly adept to the market
liquidate their coins without as much risk. This is not saying that a slab
protects you from being ripped off no matter what, but it helps.

Finally, the coin market has had a drastic reduction of coin doctors,
counterfeiters and other unsavory characters. They are out there, but most
of the fakes that I see today are from the mid 80's or so.

The disadvantages are just the fact that you can not "hold" the coin in
your hands.  Having coin in a 2x2 may seem a little more personal, but
would you put an 1804 dollar in a 2x2?

Just my PCGS MS-64 RB two cents worth.

                                                        Michael

 
 
 

To slab or not to slab?

Post by Brian Kolle » Mon, 22 Sep 1997 04:00:00


Quote:
> If you do not intend to sell your collection, I see no point in having it
> slabbed..By the time your heirs get the coins, the grading standards may have
> changed several times over..

At least if the coin is in a slab, it is safe from being
cleaned by non-collector heirs

--
Brian Koller

http://members.tripod.com/~Brian_Koller/index.html

 
 
 

To slab or not to slab?

Post by Mike or Karen Lock » Mon, 22 Sep 1997 04:00:00


Quote:

>      Yes, slabs do have their use, but it scares me that they are so
> inconsistent in grading.  I have seen this in "the major companies'
> slabs" too, so it is not just an ANACS thing.

As a person who hates slabs and loves cardboard-mylar 2x2s, I
will have to admit that slabs do provide excellent mechanical
protection for the coin.  They also make the coin impossible
to study or really appreciate.

Case is point: Does ANYBODY know what a BG533 (Calgold octagonal
dollar) is supposed to weigh?  PCGS doesn't!  How can a decent
survey be done if 90+% of the better grade coins are in slabs?

Quote:
>       Also, I doubt that it makes the coins more marketable.  I do
> not get more money for a coin when selling a slab, than I do for
> unslabbed. In fact, sometimes the coin is worth less, because when
> they undergrade, the dealer will only pay for the grade on the slab.
> Yes, I should have cracked out some of those slabs...

Since you know some honest, trustworthy dealers, AND you know
how to grade, AND you know how to read a price sheet, AND how
know what price sheets are good and which are garbage YOU don't
need to see the grade on the slab to conduct a fair deal.
Your heirs may be different.  If they take your coins to a
coin dealer, that dealer may undergrade them several notches,
not recognize rare die varieties, and then quote some outrageously
low value.

Instead of slabbing, my solution to this problem has been to
try to educate my potential heirs.  I keep a paper and computer
list of my coins, their grade, what I paid for it, and what it
should be worth.  I talk to these folks in some detail, even if
they are not particularly interested in coins.  Usually they
will listen and get the important points in their head.

I don't know if this will be effective; you only get one try and
you'll never get to know the results...

--

                  Most things worth doing aren't easy.

Mike is EAC #4357, LSCC #1636, JRCS #841, ANA #R-170301, CCS #F11, SPPN

Visit our home page http://www.rahul.net/karenml for a coin book review,
coin want list, coin for sale list, 20th century US coin hub list, and
California fractional gold attribution/price guide.

 
 
 

To slab or not to slab?

Post by Roxanne Goldberg, CP » Mon, 22 Sep 1997 04:00:00


Dear friends,
              My faith in slabs has fallen a bit.  I had in my hands
today, a definite F12, in a F15 slab, ANACS.  I know this has happened
to others, too.  I thought grade inflation was from EF40 and up. Guess I
was wrong.  At least, the dealer was honest, and was selling the coin
for F12 money.

     Yes, slabs do have their use, but it scares me that they are so
inconsistent in grading.  I have seen this in "the major companies'
slabs" too, so it is not just an ANACS thing.

      Also, I doubt that it makes the coins more marketable.  I do not
get more money for a coin when selling a slab, than I do for unslabbed.
In fact, sometimes the coin is worth less, because when they undergrade,
the dealer will only pay for the grade on the slab.  Yes, I should have
cracked out some of those slabs...

   Have a good day.
        Roxanne

 
 
 

To slab or not to slab?

Post by Robert Saviloni » Tue, 23 Sep 1997 04:00:00




 > I hope to hear other peoples comments.

Quote:

> There certainly is a split. I am not vehemently against slabs, but
consider
> them quite an improvement to the entire hobby. Regardless of what the
grade
> says, the slab is the most protective holder you can put a coin in. This
is
> a way to keep coins in the same condition for generations to come. If the
> certification services came in the 1950's, we would have a lot more
> unblemished rarities! While putting together a few pedigrees, I have
> noticed that rarities have gone from sparkling gems to cleaned, toned,
> nicked, mishandled MS-60s.

> Also, the slabs protect sellers who may not be terribly adept to the
market
> liquidate their coins without as much risk. This is not saying that a
slab
> protects you from being ripped off no matter what, but it helps.

> Finally, the coin market has had a drastic reduction of coin doctors,
> counterfeiters and other unsavory characters. They are out there, but
most
> of the fakes that I see today are from the mid 80's or so.

> The disadvantages are just the fact that you can not "hold" the coin in
> your hands.  Having coin in a 2x2 may seem a little more personal, but
> would you put an 1804 dollar in a 2x2?

> Just my PCGS MS-64 RB two cents worth.

>                                                    Michael
> You too make a valid point. What I'm afraid of though is that there are

varying degrees of "quality control" at these "slab" houses.
I just saw an article in Coin World that say's PCGS graded 41,984 coins in
the month of June.  Do you think that all those coins were graded by the
same standards. Think of yourself as an employee that comes in on Monday
morning and your boss drops 1,000 coins on your desk and says there will be
1,000 more tommorrow.  Kinda makes you wonder, doesn't it.
Now back to my original point, If you sent a coin to be graded and it came
back
at MS-XX and you went to your local dealer to sell it and he told you that
no way was
it an MS-XX.  Who would you first be mad at ?  would you assume the dealer
was
trying to***you or would you agree with the dealer who probably has ten
times
the experience of the slab house that you got "had" by the grading
service.????
Hope to hear more about this subject.
 
 
 

To slab or not to slab?

Post by BCummi49 » Sat, 27 Sep 1997 04:00:00


Thank you all for the helpfull responses to my query. I have decided to
forgo slabbing at this time because of the prohibittive cost and because it
would deny my grandson the opportunity to actually hold and feel some these
coins!

 
 
 

To slab or not to slab?

Post by John Alma » Sun, 28 Sep 1997 04:00:00


Quote:


>Subject: Re: To slab or not to slab?
>Date: 26 Sep 1997 23:44:07 GMT
>Thank you all for the helpfull responses to my query. I have decided to
>forgo slabbing at this time because of the prohibittive cost and because it
>would deny my grandson the opportunity to actually hold and feel some these
>coins!

Way to go..
John
-------
Contact us at Gulf Coast Coin and Jewelry
P.O.Box 27115, El Jobean, Florida 33927 U.S.A.
Tel: (941) 255-8252  Fax: (941) 627-9557

WWW: http://www.golden.net/~vargamz/rarecoin.htm