20,000 slabs

[nealeffendi]

Eric, the scams still continue. Paid $20 on fleabay for a raw 1960 florin that the seller claimed was gem, arrived yesterday and it was a dinged and polished piece of bullion. Gave the seller a negative feedback for his (her?) blatant lying.
At least with a (first tier) slab it is hard for sellers to photoshop or trick lighting rubbish coins.

[trout]

buy a raw coin, dip it, and sell it at a higher grade" racket that was largely the Australian market prior to PCGS.

This is still happening But at a greatly reduced amount and I credit this largely due to the advent of the acceptance of TPG's by Australian collectors, Also the greater use of the internet by collectors and the "Networking" that forums like this one that provides the information that helps collectors to be more aware of how to look for this cleaning and general doctoring and over grading that is still "out There".
many sellers/dealers are acutely aware of this "Networking" and have pulled their heads in because they know that if they screw over too many collectors that eventually the word will get out and their enterprises will suffer at the end of the day.

With all this happening the days of the "Shine em up and Flog em off Mob" are pretty much Numbered :good:

[Basil]

Basil, PCGS is not a scam. Third-party grading is not a scam. And putting coins into packaging is not a scam either (ie, mint product). It's marketing. Sometimes marketing is emotional (fancy packaging from the mint, Mercedes Benz cars, etc), while other times marketing is based on providing transparency so that it is easier to deal (ie, PCGS, food health ratings, etc).

PCGS brings a professionalism to the market that cardboard 2x2s with handwriting scrawled on it never can. If anything is a scam, just think of the "buy a raw coin, dip it, and sell it at a higher grade" racket that was largely the Australian market prior to PCGS.

Eric

Eric,i didn't say that,they're your words.
Slabbing is here to stay and will only grow stronger for the reasons you have listed,also with the market being flooded with fakes it increases the value and gives the owner peace of mind that the coin has been verified  by a Pro.grader.
I was referring to the growing cottage industry of Slabbing coins that are basically worth face value and magically,because its in a plastic box and given a grade that blind Freddy could do,its suddenly worth hundreds of times its actual value,that's not marketing,its a Con.Sellers(as opposed to collectors) in the majority of cases aren't getting them Slabbed because of storeage/aesthetics reasons or they want to know the grade,they are doing it to jump on the bandwagon and make some money.
Its a scam that people are taking advantage of whilst Slabs are in a Honeymoon period and the flavour of the Month.MPO is market forces and just plain reality will eventually come into force and these particular Slabs will have a market value less the original Slabbing fees.
The $25 prices in the OP is relatively mild compared to some smarties that are clogging Ebay.A few Months back there was a PCGS Oz.2015 5c with a $80 price and a snake oil spiel to match"5c coins are being discontinued" ,get it while you can etc.
Anyway that my 2c view on the situation based on over 50 years in the Industry,anyway "a fool and his money'' and all that,no skin off my back on what people buy but i won't be getting on the Bandwagon..

[ausjack]

There are TPG's and then there are TPG's like our friend in port (no not interest :mocking: ) FB is a prime example how you can pull the wool over peoples eyes with slabs and slabbing everything and anything.

[JeffH]

Maybe this is the sort of slab required for some of those dubious coins. (Give the neighbourhood kids a stick and they will indelibly engrave the grade, as well as their names and, probably, some rude messages.)

[ausjack]

:mafia:

[interest]

There are TPG's and then there are TPG's like our friend in port (no not interest :mocking: )

DON'T BLAME ME!!!  haven't been here long enough to get my own coins organized,
does this guy run a shop front?

[ausjack]

Hard to say but it seems so, it's all too confusing for me to keep up :blink:

[trout]

From my limited experience with slabbed coins I have noticed that most of the responsible dealers/sellers either sell their TPG failures in their bargain bins or put them up on eBay  with a 99c start and let the buyers decide what they are worth.
Nothing wrong with that and no BS involved.

[Fordprefect]

There are TPG's and then there are TPG's like our friend in port (no not interest :mocking: )

DON'T BLAME ME!!!  haven't been here long enough to get my own coins organized,
does this guy run a shop front?

Sort of shop, its an "Estate Jewlery" type shop on the ground floor
of Port Central Shopping Centre, Colonial Arcade I think.

[ausjack]

There ya go interest, thank FP :good: I'd heard he had a shop but wasn't solely coins but couldn't remember being the sieve I am.

[Fordprefect]

Shop 5 Colonial Arcade - Gold and Coin Shop.

Facebook Page https://www.facebook.com/Gold-And-Coin-Shop-1520836551560877/

[robbiegal]

who are we talking about here?

[ausjack]

apcgs
well their shop that's in port but it's more jewellery by the look of things and not coins.

[robbiegal]

I like jewellery

a few coin shops do that sort of stuff I think
they buy gold & silver etc and sell on for a tidy profit