Idiots guide to buying graded coins???X-Post

[klava]

I have been a coin collector for years. But have never dealt with graded coins. There are a few auctions on ebay for 25 mixed graded coin grab bags ending soon at around 2-3 dollars a coin(shipping price factored in). This seems to me(a novice) a good deal for the simple fact that if I sent 25 coins in ti would cost way more than that to get them graded. Am I far off on this?

Anyway I am basically clueless so any and all tips would be great. Links to good sites for reading up would help too. Thanks in advance!

-K

 

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[Jeffro]

Those graded coins are garbage, basically. Anyone who can buy a slab can make their own label, and presto! they're in the grading business.

I have seen some real garbage coins with totally obvious wear in those holders with an MS-65 grade!


You are paying 2-3 bucks for a circulated dime, quarter or half, and a piece of plastic with a label.

Doesn't sound like such a good deal anymore, I hope-



Stick with the big three grading companies, and expect to pay a little (or a lot) more. PCGS, NGC, and ANACS. Even then it is wise to only purchase them if you can inspect them first, or if they come with a "no questions asked" return policy.

 

[klava]

Okay that it good to know. I will keep a look out for those grading services.

 

[gold fish]

Stick with the big three grading companies, and expect to pay a little (or a lot) more. PCGS, NGC, and ANACS. Even then it is wise to only purchase them if you can inspect them first, or if they come with a "no questions asked" return policy.

I agree, I bought several "graded" coins on E-bay, they were done by the NGC(national grading corporation), they were wheats labeled as "MS 70" and at four bucks a piece seemed to be a good deal, so I picked 'em up. They are really pretty, uncleaned coins.......I got lucky, but they are most definately NOT "MS-70". At the time they were worth a couple bucks a piece, but in the past couple years have gone up in value, so I have at least gotten my money out of them. As I said, I got lucky, be careful.

 

[jewelerdave]

Yikes, sounds like they are as bad as the diamond grading services.
Some are much better than others.

 

[Gabev71]

if there not by the 3 main companies i wouldnt touch them, some of the companies will give a 70 to almost anything. i even bought a presidential proof that got a 70 by one company and then i sent it to pcgs to have it regraded to there holder and it came back a 67. I like pcgs because for those who dont have memberships with them u can still go on there website and see the current priceing for coins graded by them. makes finding good deals on ebay alot easier.

 

[hit80s]

another thing to ponder why go for a mystery auction ...........i like to know exactly what i am paying for .........mystery auctions are usually clearing houses for clad crap

 

[Immy]

If the words "average circulated" or "cull" are in the ad avoid it like the plague. These are euphemisms for bent, holed, damaged, heavily worn or otherwise uncollectible coins. And just so no one gets taken again, the legit (read: reputable) graders are:

NGC (Numismatic Guaranty Corp.), PCGS (Professional Coin Grading Service) and ANACS (American Numismatic Association Certification Service).

 

[doc49]

I sell and buy on eBay and I agree on the main grading companies to be PCGS, NGC, ANACS, and maybe ICG.
One of the most important things to look for in buying coins is the sellers feedback rating (both the % of positive feedbacks and the number), retun policy, and I only buy from sellers who use PayPal as they will follow through with a complaint.

If anyone is looking for Morgans and Silver Eagles I have large collection of nice coins.

Doc

 

[bigtime400]

whats the star for after the ms 64

that is a nice looking coin.

 

[Immy]

whats the star for after the ms 64

It's a special designation given to exceptional specimens.

 

[bigtime400]

ahh... Ill give you $22 for it even though silver is low.


JK.......

 

[whoknows52]

What happened to the good ol days when you got out your glass and a copy of photograde and graded your own coins? Coin collecting, like everything else now, isn't about fun, its about the almighty buck!