1973 2c - To slab or not to slab.

[trout]

Just to add to my last post .
I have become quite adept at breaking open slabs and will always take a coin out of its mint packaging and store it the way I want.
I am of the opinion that "Because it is slabbed it is a more valuable coin" mindset is just a load of old codswallop.
I suppose after paying about $50 plus postage to get a coin graded the seller wants to recoup their costs but that doesn’t change the grade of the coin , It just changes the perception of its value to uneducated and naive people.
If I need a particular coin for my collection I will de slab it in a heartbeat and have no regrets doing it, After all I am buying the coin and not the slab:grin:

[chookcity]

Just to add to my last post .
I have become quite adept at breaking open slabs and will always take a coin out of its mint packaging and store it the way I want.
I am of the opinion that "Because it is slabbed it is a more valuable coin" mindset is just a load of old codswallop.
I suppose after paying about $50 plus postage to get a coin graded the seller wants to recoup their costs but that doesn’t change the grade of the coin , It just changes the perception of its value to uneducated and naive people.
If I need a particular coin for my collection I will de slab it in a heartbeat and have no regrets doing it, After all I am buying the coin and not the slab:grin:

That's all good for you, Untill the time comes to sell your coins.
But then again maybe you can take them with you. :yahoo:

[jumpydj]

Slabs aren't part of what we do,they are a US concept anyway

[trout]

Just to add to my last post .
I have become quite adept at breaking open slabs and will always take a coin out of its mint packaging and store it the way I want.
I am of the opinion that "Because it is slabbed it is a more valuable coin" mindset is just a load of old codswallop.
I suppose after paying about $50 plus postage to get a coin graded the seller wants to recoup their costs but that doesn’t change the grade of the coin , It just changes the perception of its value to uneducated and naive people.
If I need a particular coin for my collection I will de slab it in a heartbeat and have no regrets doing it, After all I am buying the coin and not the slab:grin:

That's all good for you, Untill the time comes to sell your coins.
But then again maybe you can take them with you. :yahoo:

I have no idea why mindless people come up with inane statements simply because they do not agree with another persons view on something.
If you have nothing relevant or at least interesting to contribute I would suggest that you keep your insulting comments to a group of people with a lower IQ level

You are totaly wasting your time insulting me because I have the skin of a Rhino and you will only make yourself look foolish in the process:beach:

[autocoupler]

That's it!!....I think you're on to something Grumpy, slab it in Rhino hide, I'd like to see that!!

[chookcity]

Just to add to my last post .
I have become quite adept at breaking open slabs and will always take a coin out of its mint packaging and store it the way I want.
I am of the opinion that "Because it is slabbed it is a more valuable coin" mindset is just a load of old codswallop.
I suppose after paying about $50 plus postage to get a coin graded the seller wants to recoup their costs but that doesn’t change the grade of the coin , It just changes the perception of its value to uneducated and naive people.
If I need a particular coin for my collection I will de slab it in a heartbeat and have no regrets doing it, After all I am buying the coin and not the slab:grin:

That's all good for you, Untill the time comes to sell your coins.
But then again maybe you can take them with you. :yahoo:

I have no idea why mindless people come up with inane statements simply because they do not agree with another persons view on something.
If you have nothing relevant or at least interesting to contribute I would suggest that you keep your insulting comments to a group of people with a lower IQ level

You are totaly wasting your time insulting me because I have the skin of a Rhino and you will only make yourself look foolish in the process:beach:

For someone with a rhino hide you sure need to get in the last word. Lol. :yahoo: And in case you didn't notice you're the one doing the insulting. :dodgy:

[lacey]

I for one think slabs are the way of the future.  It certainly helps me in deciding which one to buy.  Countless times I have asked a friend of mine about a coin, and he can always find something wrong with it, and that is enough to convince me the isn't worth buying.  But a slabbed coin is different.  I have no qualms about the grade or authenticity of the coins.  

I've only been collecting for a few years and still can't tell if a coin has been cleaned.  Personally I have nothing against a coin being cleaned if done properly but I don't buy them because I wish to be able to resell my coins later.

[trout]

:welcome:

Countless times I have asked a friend of mine about a coin, and he can always find something wrong with it
Your friend is quite correct, unless a coin is FDC or MS70 it has some sort of flaw.
But hay a FDC or MS70 Australian coin is as rare as hen’s teeth, that’s why coins are graded on the amount of wear, damage, lustre or even strike.
If you are unable to determine what grade a coin is then buying slabbed coins to start off is a smart decision, They will give you a point of reference as to the grades of other coins and after a while you will learn how to grade a coin for yourself.
If you are taking numismatics seriously as a hobby and not just an investment option ( Very few people get rich collecting coins) It is paramount that you teach yourself how to grade
By relying on someone else to grade your coins you will be missing out on a massive learning curve and the satisfaction of being able to make your own decision as to the grade of a coin.
It is not easy but at the end of the day it is awsome to be able to do this for yourself.

[MobOfRoos]

I for one think slabs are the way of the future.  It certainly helps me in deciding which one to buy. I have no qualms about the grade or authenticity of the coins.  

Without a doubt that is true.....but you will also pay a massive price premium for that peace of mind. Many of us who have done our homework and become knowledgeable about grading and authenticity don't want to have to pay that premium.

There is also the issue of the ANDA system differing to the Shelden system. I have seen countless MS 60 coins being described as "uncirculated" and sold as such when in fact they are aUNC under the ANDA grading system and Rennicks and Maccas catalogs.

Without wanting to sound disrespectful I have also noticed that the biggest promoters of slabbed coins are those dealers that sell them. They have a vested interest in their acceptance in the Australian coin collecting community.

[markn]

Without wanting to sound disrespectful I have also noticed that the biggest promoters of slabbed coins are those dealers that sell them. They have a vested interest in their acceptance in the Australian coin collecting community.

And their biggest opponents are also coin dealers.  Who also have a vested interest in them never being accepted in the Australian coin collecting community.  It's a sad fact of life that those who stand to win or lose the most financially from a situation are usually those who have the strongest (and often loudest) opinions on that situation.

[Fr45h3R]

My observation, is that over the last couple of weeks some PCGS graded decimals have been sold on both eBay and Quicksales,  at a 99c start.
The crazy prices realised for some coins, were decided by the market, not set by a dealer.

A recent personal experience : I sent a few coins to be graded at PCGS.
One was a raw coin I paid a hefty premium for, and it is a great coin.
Whilst the coin was away getting graded, I also purchased the same coin in 'highest graded' slabbed by PCGS.
When I received this coin, I was blown away by the difference between it, and the coin I sent over. It is truly a phenomenal coin.
And now, the result from my raw coin is back from PCGS...
2 points lower that the one I bought slabbed.

[wwwww]

but you will also pay a massive price premium for that peace of mind

That's just not true, some coins sell higher in slabs, some coins sell higher raw. It's logical to assume that most people slab coins for the financial benefit, so it comes naturally that coins in slabs are more expensive than when they were raw, and coins that are raw are more expensive than if they would get slabbed.

So if you look at just slabbed coins, yes they sell at a premium, but so do raw coins, and I would hazard a guess that overall raw coins are far more expensive than slabbed coins.

There was an example I posted on the other forum a while back, a Geo V florin NGC graded "UNC details - harshly cleaned" that realised about $200 at Heritage, it later appeared in a leading Australian auction house, out of its slab described as uncirculated where it realised $1000 + comm.

Obviously if you're experienced enough you can sift through dealer's stock and pick out the well described coins and it'll end up cheaper than buying slabbed coins, but the fact is most collectors, and even a good quantity of dealers aren't skilled enough to do that so while your point is probably valid for yourself, buying raw coins is far more expensive for most collectors out there.