CoinClinic: Slabbing Culture in the U.S.
Why do U.S. collectors favor slabbed coins while many world and ancient collectors prefer raw examples?
Why does it appear collectors of U.S. coins are more interested in getting their coins slabbed than are people who collect foreign or ancient coins?
Population reports available from the major third-party certification services indicate more U.S. than world or ancient coins have been “slabbed.” In general, the U.S. coin market is more concerned with what could be called fractional grade differences than are collectors of other collectible coin types. The price difference, as an example, between MS61 and MS62 can be enormous for a U.S. coin. This might not be so for a non-U.S. issue. Having coins certified and encapsulated gives the owner more assurance than when a coin is not slabbed.
I understand many collectors of ancient coins don’t like their coins slabbed. Shouldn’t they feel they want the same assurance that slabbing a U.S. coin gives?
There is a significant population of collectors of ancient coins that want their coins to remain raw or unencapsulated. There is a major advantage to having these coins encapsulated if the coins are to be sold to the many beginners who are still learning about ancients. Not only is the grade important to these collectors, but many of them don’t have the knowledge to identify the coins, another service provided by the certification service.
How do I know I can trust a certification service not to switch coins?
I can’t speak for all third-party services, but the major services are multi-million dollar companies servicing thousands of coins every week. Even if a service wanted to switch coins, it would be time-consuming and require a ridiculously large inventory to make this possible. Furthermore, once a service is found out, such a situation would put them out of business. Do you really think they would risk their business over the modest value of most coins that are submitted to them? It simply doesn’t make sense.
Can I trust a local coin dealer’s opinion of my coins rather than sending the coins to a certification service?
Local coin dealers and local collectors you may know from coin clubs or shows are an excellent source of opinions and information. The disadvantage is that you have no tangible way to convey their opinion about your coin when the time comes to sell it. Once a coin has been authenticated and graded by a third-party service, it is encapsulated, ensuring you have their opinion of your coin in writing.
When is it best to pursue collecting a truly rare coin versus when to collect a really nice example of a more common coin?
It is up to the tastes and depth of the wallet of a collector to decide between the two. Both are desirable. Both have upside potential for their future value. In general, if you are looking for a type coin, I would suggest going for the coin in the best condition you can find. If you are looking to complete a set of coins, those dates that are rare in that series may be either prohibitively expensive in high grade or may not necessarily exist in very high grades.
Auction companies have teams of writers who catalog what is to be sold. Can I insist I write the description for my consigned coins?
You need to negotiate with the auction company to which you plan to consign your coins if you want the right to either write or proofread the description to accompany your coins. These companies have their own format and style of writing. They may not want disruptions, not only for those reasons, but also because it would be time-consuming to allow the consignors to get involved in the cataloging process.
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