Slabbing

[Chris Perkins 223]

Yes, I got that message too!

It's pushing things a bit isn't it. It isn't set in stone the the UK will all of a sudden adopt the US system. That message is aimed at people who have too much money than they know what to do with and no knowlwdge in coins, and I hate to say it, but It'll probably be very successful!

[Unknown 0]

What I see in that message is someone trying to puss he coin market into a business model.

Until now most of us see coin collecting as a hobby not an investment, at least I do, but they are trying to make us all see it as an investment... not interested thanks.

Of course I like knowing the value of my coins, but not thinking about getting any profit out of them, just to have as much information as possible about the coins.

I hope it doesn't really take off... £16 to £50 is too much money for such service anyway. Just to put the coin in a plastic case and slap a sticker to it...

I know they have to do the grading, but I am sure Chris can do that for much less or even free... there you go, another business venture for you Chris, start slabbing coins all over the place!

[Chris Perkins 223]

I'd thought about it, but not persued it because I don't really like them

[Sylvester 15]

If slabbing comes in, in the UK, i'm dumping my milled collecting aims and going 100% hammered to avoid it.

[Master Jmd 50]

If slabbing comes in, in the UK, i'm dumping my milled collecting aims and going 100% hammered to avoid it.

couldn't you just not slab?

But i think that that would be what i would do...hmm...Elizabeth I coins have always caught my eye...

...but i hope it doesn't affect the UK

[Sylvester 15]

Yes but JMD in my area all the good coins that i need would be slabbed. How many AEF early milled sixpences would stay raw?

And i thought you'd said you hated hammered coins?

You change your stories so much i'm having trouble keeping up.

[Master Jmd 50]

And i thought you'd said you hated hammered coins?

well, i don't exactly like hammered coins, but if they have a date on them then they are ok...i detest those early long-cross pennies or whatever they are called...Even though i dont mind the cut ones...

If i made a list then the things i like and don't like would be cleau...but a list may be a little long and time consuming

Edited November 3, 2004 by Master Jmd

[Geordie582 18]

Hey! Don't you lot start buying in my stomping ground. I can't afford to compete!!

[Master Jmd 50]

Hey! Don't you lot start buying in my stomping ground. I can't afford to compete!!

dont worry about us...like many others we only have limited bugets...

[Half Penny Jon 0]

like many others we only have limited bugets...

We'll make up for it when we get older!

[Sylvester 15]

Hey! Don't you lot start buying in my stomping ground. I can't afford to compete!!

I'm already in your field, but i'm concentration on the Stephen-Edward II silver and hammered gold thence after.

I'm going to go back to Eadgar.

[Coppers 57]

You might be interested in/horrified by this e-mail I got today from Lockdales of Ipswich.  Apologies if anyone has seen it already.  The bold highlight is mine.

www.certifiedgbcoins.com

    The most essential factor in determining the value of a coin is its grade of preservation. The process of finding and buying coins in the highest grades is full of pitfalls, even for those able to grade to a decent standard themselves. The British system has always been based on the opinion of the owner or seller of any given coin. This in many cases causes bias for financial motives, and tips the scales against the collector, and the investor.

    We deal exclusively with third-party certified mint state British milled coins, ‘slabbed’ and graded by commitee at the most prestigious American grading services PCGS and NGC. This adoption of the US system is something that British collectors and dealers will have to get used to. Once you have seen enough certified material yourself you will begin to apreciate just how rare truly uncirculated coins are, and how subtle yet crucial the difference is between the points of the scale. It runs from 1 to 70. The Mint State scores begin at 60, and so with ten points between the borderline to perfection, you can forget about the vagueries of ‘near Unc’, ‘about Unc’, ‘choice Unc’, ‘as struck’, and the all pervasive ‘Gem BU!!’ (which is almost never the case.)

    The coins we deal with are specifically British approx. post 1660. These having been machine made: their grade is quantifiable by comparison. Slabbing is mostly irrelevant in the case of hammered and ancient coins, as their market is driven largely on the basis of tactile historic interest. The handling of mint state milled coins is highly inadvisable as their value is contained within such fragile parameters. The slightest abrasion can mean a world of difference to a connoiseur.

    If you wish to test the system for yourself, go to one of the many trade fairs up and down the country. Buy up a number of catalogue priced raw coins graded UNC if you will, send them off to PCGS and await their return. We predict that a number will fall short into the AU50s, one or two will be rejected as having been ‘improved’, and some may reach borderline Mint State. Few will meet the standards of our merchandise.

    Post 1797 all coins within the framework of our company are MS63 and above. Pre 1797 we work with coins of at least AU58 or better. This is the ‘choice’ end of the market, and it ensures that whatever quantity of money you put into British coins with us, you can be sure it's going to be on the level that counts the most.

    If you have any coins you believe to be in choice uncirculated condition, you can get them slabbed through our membership with PCGS or NGC. To cover our administration and mediation with these services and customs, the charges are thus: £16 per coin up to £175 est. value. £30 per coin up to £3000. £50 each up to £10,000. For higher value items call for a quote.

Did anyone check out this site lately? Apparently it's no longer in operation.

Slabbed Coins

[Coppers 57]

My apologies ... my spelling is off -- the site is www.certifiedgbcoins.com.

[Emperor Oli 0]

Did anyone check out this site lately? Apparently it's no longer in operation.

Slabbed Coins

Lovely. I fixed the link in this post.

[Coppers 57]

Thank you, Oli!

[Chris Perkins 223]

That is very interesting. I had the odd 'discussion' with the person in charge of Certified GB Coins as I was not happy with all the 3 coins I purchased from him. The fact the site is no longer there perhaps suggests that British collectors simply don't like slabbed coins. Or perhaps their were flaws in the way they described the coins and the prices they charged.

I wonder how this affects the customers, and how can they now spend enough in order to get their £250 worth of free coins?

[Sylvester 15]

I bought a coin last week that's just arrived this morning. Nice piece of 18th century gold. At the moment it is sadly slabbed, i've just posted a few question in various places asking the best way to crack the coin out of the damn slab.

This is only the second slabbed coin i've ever owned and i must admit i simply don't like slabs at all. The last one was that nice sovereign i sent your way, the slab irritated me to the point where i sold the coin. This new coin i'm dying to get my hands actually on the coin but the blasted plastic is in the way. If i am going to keep it it's going to have to come out... If i can't get it out then i'll have to either get someone else to crack it me out professionally and pay them for it or sell the coin on.

[Chris Perkins 223]

What grade is it? (and what is it)

[Emperor Oli 0]

This is only the second slabbed coin i've ever owned and i must admit i simply don't like slabs at all. The last one was that nice sovereign i sent your way, the slab irritated me to the point where i sold the coin. This new coin i'm dying to get my hands actually on the coin but the blasted plastic is in the way. If i am going to keep it it's going to have to come out... If i can't get it out then i'll have to either get someone else to crack it me out professionally and pay them for it or sell the coin on.

I've been looking on ebay specifically for slabbed coins, something low value like a Roosie, just to see and hold a slab.

[Sylvester 15]

What grade is it? (and what is it)

Joseph II 2 Ducats 1786-D got it for £335 (which amusingly is Krause value!) A fellow member on another forum who specialises in gold coins of this period and in ducats in particular said that 2 ducats ain't as common as the 1 ducat and that it was a very well priced specimen being sold at/near Krause prices was a steal.

Graded by ICG at AU53, which to me means it EF at best. (Although if memory serves correct ICG was considered one of the better ones on world coinage).

I really like it, not keen on the tomb though.

I've wanted a ducat a long while ever since i got an imitation ducat of Francis (Either Francis I or II), Maria Theresa's husband. That was a gaming token of a 1 ducat piece (i still have it actually), and i wanted a real one of the period. Joseph II isn't that far away being only a generation or so down, same century, although i'd have to confess i wasn't looking for a 2 ducat piece but beggers can't be choosers! It was there, it was nice and for once i had the cash... so that's my 21 birthday present to myself, well one of three...

[Sylvester 15]

I'm sure i'm getting dyslexic... that should be 1786-B not 1786-D.

I've put D one every post so far, even on omnicoin. I think it's because my French coin i got the other day is a D mint one. But then again i get B's and D's mixed up ALL the time. I can think and say out loud to myself B and mean to write B and I'll still write D. (I had to concentrate writing that sentence)...

Yes i have had a dyslexia test and they found no problems... so dunno what the B/D thing is about...

[Emperor Oli 0]

Joseph II 2 Ducats 1786-D

Double-headed eagle *drools*.

[Sylvester 15]

I know i love that reverse, i always have though. I'd definately put it down as one of my favourites.

Shield, eagles, crowns, swords. Reeks of royalty and power... add into the mix a guy in a wig on the other side and you know it's the kind of thing i'm going to buy. They are alot nicer than the gold coins Britain was peddling out at this time, i.e Spade Guineas.

Although i must say i always liked the ornamental shield reverse guineas of George II. George III less so (the earliest portraits are damn good, thinking 1761-4) but by the late 1760s they began deteriorating... by the 1770s they were quite hideous.

[Geordie582 18]

Just a thought! I know our American friends can take degrees in hot dog baking and nappy changing, but which university awards degrees in coin grading? Whence come the "Professional Graders"?

Another puzzle (to me anyway), Why so many grades? I presume all graders have electron microscopes to discern minute differences?

Edited August 3, 2005 by Geordie582

[Chris Perkins 223]

I assume a professional grader is simply someone who grades coins for a living. An ameteur grader would be a grader who sold hot dogs during the week and graded coin at the weekend.

The differences between MS63 and MS64 are minute. There is a guide somewhere that I read that states how many bag marks MS coins are allowed to have and where they're allowed to have them. It's great to think that you can make an exact science out of coin grading, a wonderful idea thorey. But with so many contributing factors it doesn't always work satisfactorily.