Is Coin Grading POINTLESS? ($84,000 Submission UNBOXING!)
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- čas přidán 24. 07. 2024
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Two words: stability and liquidity
Before grading 90% of dealers would want to buy your MS63 at an AU58 price and sell it an an MS65 price
Trusted grading companies made the industry way more honest
not long ago I walked into a coin shop to thin out my Morgan dollars, they were all graded, he went through them gave prices, I knew right away they were about where the market was at, took maybe 15 minutes total and both of us walked away happy. Couldn't have done that with raw coins.
Except the vast majority of coins are worth less than the cost and time of getting it graded so on all but the highest value coins it's completely pointless arguing over $5 or $10 in value when it costs $30 to get the answer
Drew first of all, thank you for another good, educational video. I respect the grading services for what they do but…I believe that at times the grading services play with numbers to protect themselves and protect their biggest customers. If I were to submit a nice coin that I believe will grade as a high gem I risk not getting the best grade because it’s not being submitted by their best customers. That’s why large submitter’s will “help out” a friend or a customer and submit with a large submission. We all hear these things in the field but we don’t like to admit it. Nonetheless, coin collecting is fun, exciting, and a bad habit 😜. Love your videos. Keep them coming and God bless you both
I agree, just imagine how much money a Key Date Saint Guadens Double Eagle has made dealers over the years before a collector finally hoards it. The appreciation can cloud a hobbiest mind. Look at all the gold coins that sold for 10s of thousands of dollars in the early 1900s and then a huge hoard is found that turns a collectors 10k coin into 2k coin. Anything could happen to collector but a well informed dealer will always have make out okay in the industry.
For the relatively short time you guys have been in this business, you have developed a great eye for CAC quality coins. I have personally submitted many coins from my own collection and have realized maybe a 30% green sticker rate, but have never gotten a gold sticker, so I applaud you every time you show one. I think the average collector doesn’t realize how difficult that is. Although I have encountered reputable dealers at major shows who poo-poo the CAC process as an unnecessary gimmick, I am a believer and prefer to acquire coins already stickered. My favorite Morgan grade is MS-66+ WITH a green bean. It typically has the eye appeal of a 67 at 2/3 the cost. Keep up the good work !
Does that apply to gold ?
When buying on the internet if a coin is graded with a CAC sticker I have a pretty good idea of what I’m going to get. I’m more likely to be happy with the purchase so I pay the premium
just got into numismatics a few years ago so all the knowledge i can get is much appreciated 👍
Great video, Drew (and Casey)!
Great video like always great job handling that trailer Casey . I work with people that tow trailers every day I often jump in their truck to help them out . I’m currently on a mission to get a bigger safe . Keep up the Great work Drew and Casey
I use the grading services for authentication. The coin doctors and counterfeiters continue to get better. It is always good to have a second opinion on an important purchase.
I buy NGC and PCGS graded coins exclusively, except for when I stack 90% silver. I am not knowledgeable about condition/grading so I appreciate that a slabbed coin has been looked at by an expert. It also ensures liquidity via a quick sale if I need to sell any of them.
It depends on the price of the raw coin. If you pay a lot for the raw coin, then with the price of grading you might just break even. However, if you get a great coin as an inheritance or gift then have it graded you could increase the value considerably! Plus, it protects your investment, and the value won't necessarily go down, but it can, and it could always go up too. So, whatever you choose to do is your choice.
This is definitely in my top 5 favorite of your videos. Very informative and helpful. Thanks
I started collecting in the 70s as a young man. Bought coins through magazines and the Numismatic news periodical and local coin shows. When the ANA started coin grading I sent a couple dozen to them in the early 80s. I was shocked at the grades I received when they were returned. My MS65s came back as AUs and most were cleaned. The dealers back then were people who the used car lots would not hire because of their lack of integrity. I don't think peoples natures have changed over the years so I only buy graded coins since then. If they stopped grading coins I would quit collecting.
Would love to see some more videos that show the coin grade progression like the buffalo. Very informative. You could really see the luster differences between the no been, the green bean and the gold. Keep it up, great video
Great video and info. Thanks for sharing👍
Learn so much from yall thanks fellas !
Good video. Really like the commemoratives.
Nice presentation thanks. Lots to consider. Also I appreciate you sharing that last gold Indian that both you and the customer thought was likely an AU coin (the customer even thinking it might grade XF) which ended up grading MS62. Just goes to show our capacity for having very different opinions in grading coins. My understanding is that NGC and PCGS perhaps the other services also ,show a little more tolerance with marks on gold due to its softness(!?) but that criteria/standard may be variable on any given day too.
Rolling on up with the TL15. Will you reinforce the floor its on to support the weight? Basement is a good idea if you have it but it takes effort to get it down there and possible moisture issues.
Yeah... I put all of my coins in pvc flips as a kid. I used acetone to remove the pvc just last year. After 30 or so years in the hot attic in pvc coin sheets, 100% of coins stored in pvc showed significant pvc damage. Lesson learned.
Grading is just one factor in assessing a coin's fair value, confirming the condition of the coin for the people wanting to transact with it. Just the other day watched an auction, two MS66+ graded morgans of the same year & mint mark, both with CAC stickers, one had beautiful blue & red toning, the other was blast white -- same coin, same grade, same holder, same sticker, presented to the exact same audience at the same time, the blast white coin sold for double the price of the beautifully colored toned one. There also is a high price variance in high-grade peace dollars as many have various discolorations on the surface.
Drew does CAC take I to consideration the condition of the plastic holder? Not like your going to answer but I figure I would ask.
Spot on the Cleveland makes it look bad surprised it even got a bean
Toning spots on this one gave it some charm. If it was environmental spots, I would of agreed with no bean/green bean.
I know for a fact that coin grading increases sale prices, even for NCCCs (Not Commonly Collected Coins) like contemporary world coins.
You clearly have a lot of quality inventory . It would be nice to see a video showcasing coins you have in your personal collection. And your thought process /how you think about your personal collection. I would imagine it makes the hobby quite different for you being a dealer.
Nice work men.
Third party grading has artificially raised prices on coins by allowing those who are strictly investors to skip the hard work of learning to grade coins them selves.
I loke how you break the grading process down. With that being said, i only have 2 graded coins, i won 1, and purchased 1 without the premium of the slab. I doubt if I'll start to get into these, but i get the point of getting an experts opinion with the slabs.
I don’t mind paying a premium at all for a nice cac sticker. 64 Morgan. I have a whole rack of them. Probably over half of them would grade 65.
Will you conserve the pvc slabbed coins
Remember to shore up the floor joists. 2K plus the weight you put inside:) Good firebox 2 hours.
I feel grading is important, there are still some subjective aspects (toning, strike details that are close to a higher grade or lower, etc), but overall you know an expert has provided evaluation of its grade. Which allows for a more congruent price model, vs a raw coin with lots of subjective grades.
But I do like having both, so I can actually hold a coin/currency in my hand.
Also, how about asking Casey nice questions, instead of harsh ones?😄. "Why do we have a safe, Casey?!". "Why are we printing labels at 1 am in the morning, Casey?!". "Did you pay the guy, Casey?!"
How about, "Hey Casey, looks like you have a safe there. Why don't you tell us more about it?"
Poor guy. Casey, you did a great job packing my CAC Morgan, it arrived quickly from your PA stop and was well packaged. Thank you!
It depends on the coin. For example, old rare coins or pre 33 gold then yes, it is worth it but, coins such as maples 🍁 silver or gold, or Buffalos, there is no point because them coins are not made for daily currency.
Is there any way to remove pvc I have a beautiful 1899 p ms65+ with beautiful toning with what I think are two small pvc patches . The coin looks like a 66 and toning is beautiful. That Oregon trail coin is awesome
U can resubmit to pcgs or NGC for a cleaning and re-slab. All they use is acetone, which may not effect the toning of your coin at all, but would be effective at getting any old adhesive residue off
@@jewnersey7413 thank you
100% acetone will remove PVC
I have had the same problem with coins toned blue/gold. if they are the only colors your chances of a green bean are almost non-existent.
I personally hate them. I just got a bunch of Morgan dollars graded with PCGS. Unless you’re selling high dollar numismatics I definitely wouldn’t recommend grading. Most coins can be sold on a general visual grade. Save your money and buy more coins!
Exactly. Can get burned in fees and shipping on coins that should never of been graded. Definitely a lot of that also.
Cow Tow ing the grading companies
Casey needs to work on his backing skills. Lol just kidding. Great video
You guys have the highest resolution videos of any coin CZcamsrs. It's important for us to really see the coins. Nice job.
Paying more than the spot price per oz for metals is the dumbest part of buying shiny rocks
I don't care so much for graded coins. I wish they would go back to the old soap box holders, slabs now are too big.
I'll let whoever inherits my collection worry about getting things graded. I buy raw bc it's usually cheaper and I don't have a bulky plastic holder around it.
I buy Raw and Graded , You Never know what you might find 👍
Well, if you're filling in collectible coin books 📚 you can't put graded cases in books.
Lucky they have books you can slip your graded coins into:)
@RobertLee-wi5kc That's awesome 👌 we have the old style books 📚 I love some of the older ones they seem to help tone the coins in a way.
Sure, opinions BUT more importantly these grades give us the confidence to shop online. Because lets be honest, I think some of the dealers are photographing coins with their poloroid and then taking a pic of that to post with their smartphone
Good point
Every sport needs a referee- other wise it’s just someone arguing with you
Having some doubts about collecting coins lately, I mean it’s a hobby that yeah you can make a small gain on a good coin or you might take a small loss, but you have to go through all the trouble of trying to find a buyer when you do want to sell, when if you just take that same amount of money and put it in an index fund or dividend paying stock, it could double and when you want to go to sell it’s just a few clicks and you’re off on your vacation getaway lickidy split lol I love coins but I’m not as enthusiastic considering the long term, am I alone in thinking this, any of y’all think it’s a trap?
Honestly, I wouldn’t look at collecting coins as a sound investment unless is met criteria that would elicit a financial return.
Most people I know who have made a return have owned their coins for a minimum of 10 years and it doesn’t seem to be all that worth while.
*not a financial advisor*
@@AcoushaCollectibles Not the reply I was expecting, but I would agree in most cases for someone just appreciating the coin collecting hobby, it is hard to make a solid return. I believe what you’re doing is very good strategy although we can see all the hours and labor and travel that you’re putting in to make it all possible. Having read Scott Travers book on surviving in coin collecting (which I highly recommend btw) he does outline some strategies to maximizing that return, and what type of coin categories to “invest” in like high grade early American proof gold coins for example but for most people the entry price is simply too high, he also talks about crackouts, resubmissions and all that jazz. Bottom line is you gotta love what you do. Thanks for sharing!
I'm straight, but a Gold Cac sounds nice.
Me too. I'd love to surround myself with cacs. My dream? Cacs at face.
many auction houses insist on grading so yes get rare coins graded, common junk no
There is coming a day when all that will matter is the weight.
i do not pay extra for stickers ... sorry ..
No worries, just an opinion.
i don't trust CAC at all 6:40 really? lmfao
I agree looks like even carbon spotting:(
Toning spots is much different then a environmental damage spot. This one is a lovely addition of character that doesn’t inhibit luster.
If slabs can be faked, have you ever heard of fake cac stickers?
Do you believe that eventually AI would replace many employees of PCGS< NGC and CAC?
I've been collecting coins since 1964 . I feel that coin grading services ruined what was once a great , interesting , innocent hobby . It added many dollars of cost and separated us numismatists from the coin with plastic . Do you have any idea what these coin graders must look at per hour ? Over 2000 coins per hour is what they are required to examine . Yes their grades are then reinspected by other graders still they can not give each coin the examination time the coins deserve .
The flip side is it allows casual hobbyists the ability to transact without fear of being lied to by the dealer. Only recently got into coins, growing up was big into baseball cards, and we enjoyed those days before card grading services, but we always knew which cards were very common for fakes to be out there, and we largely avoided them, didn't want to pay for them, didn't want to have them. But now with graded / authenticated cards, I've gone back and bought a few of those classics, that I never would have ever purchased raw out of fear of being ripped off.
No about 600 in a day. 2000 an hour silly rabbit that would be more than 1 coin every 2 seconds. Try looking at 2000 in 1 hour.
Graded coins have completely ruined the hobby
having a respected grader verify a coin is authentic, problem free and assign an approximate grade is way different than a silly sticker on a coin that has already been assessed. But since you profit from the stupidity, I don't blame you for pimping CAC.
HaHaHa...coin graders are your friend...
*EVERY VIDEO I WATCH OF YOURS I LEARN SOMETHING NEW.. I AM NOW A FAN OF THE OREGON TRAIL DOLLAR, THE PRICE IS THE ONLY THING STANDING IN MY WAY* 😅😅
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