CGS UK & Ebay

[SWANNY]

CGS must be slabbing loads of coins as the percentage of CGS slabs on Ebay is going up

Is this the way the market is going , get your coin slabbed so you can raise the price by 200%

Is it worth paying that premium for a CGS slabbed coin ?

[Gary1000]

CGS must be slabbing loads of coins as the percentage of CGS slabs on Ebay is going up

Is this the way the market is going , get your coin slabbed so you can raise the price by 200%

Is it worth paying that premium for a CGS slabbed coin ?

I had a rare penny slabbed by CGS before putting it on ebay, the final price was still disappointing.

[SWANNY]

I'm looking at decimal 1983-2015 coins , which are more of a fixed value

They put them up with a fixed "Buy It Now" price , way over the actual book value

[azda]

The problem is that CGS slabs are only recognised by UK buyers, slab collectors generally want either PCGS or NGC slabs, a PCGS collector would crack open an NGC slab and send to PCGS.

[Nordle11]

Generally speaking a slab will warrant a premium. I guess as yours was a rare penny, Gary, it was the coin that sold and not the slab.

As Dave was saying about my 1904, once I break it out I'm losing about 30 quid.

[Nordle11]

I also think that because CGS and LCA are one and the same, every coin that is consigned to them is then slabbed so it's not just people using the slabbing service but also the auction service as well.

This will up the percentage.

Edited November 24, 2015 by Nordle11

[PWA 1967]

Whos this CGS ?..................

[Nordle11]

Crappy grading service?

[PWA 1967]

[azda]

CGS must be slabbing loads of coins as the percentage of CGS slabs on Ebay is going up

Is this the way the market is going , get your coin slabbed so you can raise the price by 200%

Is it worth paying that premium for a CGS slabbed coin ?

Cost of coin + cost of slabbing + ebay & paypal fees = the mark up. Slabbers think that if a coin is in a graded holder that will mean an easy sell at whatever Price it's listed at, but what they don't seem to realised is that only the finest will realise that premium, the fact CGS is a British targeted market only will make it equally difficult to sell As there's not a huge following of their slabs or slabs in general in the UK market. Edited November 24, 2015 by azda

[SWANNY]

I agree that there are costs involved , but the percentage added to the price is astronomical

I don't know what other people think , but I don't have to own the best example , just a very good one.

[PWA 1967]

I'm looking at decimal 1983-2015 coins , which are more of a fixed value

They put them up with a fixed "Buy It Now" price , way over the actual book value

I cant see many if any at all selling Swanny ,if they were with a 200% mark up everyone on here would be at it

[TomGoodheart]

Is this the way the market is going , get your coin slabbed so you can raise the price by 200%

You can get your coin slabbed. And you can put the price up 200%. But that doesn't mean you will get the asking price.

Most collectors aren't mugs. They pay what the coin is worth and in the end a slabbed coin is just a coin. Sure you get a bit of plastic and a label, but the actual coin hasn't changed from how it was pre-slabbing.

Is it worth paying that premium for a CGS slabbed coin ?

Not 200%! Sure there are costs involved. And maybe if your coin is the Finest Known it's worth paying a premium ... but the majority of coins slabbed are modern and there are thousands of examples and the likelihood of a better-than-CGS-have-seen is high.

Rarities, or coins that are copied to a high standard, maybe there is a value to the slab and authentication. But you should still only pay the market value.

Would I pay double for a better-than-average example of a coin that is normally only found in poorer condition? Of course! But I would base my decision on my own personal view that that particular coin is exceptional for the type. Not somebody else's This Is The Best I've Ever Seen guff.

Buy the coin, not the slab they say. Good advice.

.

Edited November 24, 2015 by TomGoodheart

[alfnail]

A few years back I placed 3 coins with LCA for one of their auctions. It was suggested to me that they would realise best price if I paid for slabbing.......which I went ahead and did prior to the auction. As I did not have much experience of LCA at that time I decided to place reserves on these coins. One of them did not reach it's reserve of £200 so I brought it home with me to sell on ebay. I found it really difficult to take decent pictures through the slab, so committed what I felt to be a sin at that time of bursting it open. I then took the desired pictures and sold on ebay for almost double the reserve............an interesting experience!

[RLC35]

A few years back I placed 3 coins with LCA for one of their auctions. It was suggested to me that they would realise best price if I paid for slabbing.......which I went ahead and did prior to the auction. As I did not have much experience of LCA at that time I decided to place reserves on these coins. One of them did not reach it's reserve of £200 so I brought it home with me to sell on ebay. I found it really difficult to take decent pictures through the slab, so committed what I felt to be a sin at that time of bursting it open. I then took the desired pictures and sold on ebay for almost double the reserve............an interesting experience!

Cliff,

Photo's through a slab, are almost impossible to get a decent example, with out a "glare" filter. I had the same problem, until I added a filter to my camera. The filter corrects the glare, or reflection issue.

[sound]

Its interesting that LCA attach a premium in estimates for CGS slabbed coins against similar non slabbed coins.

You could say that they are just talking up their own book, well they cant be criticised for that. However perhaps they have identified a segment of the market that is willing to pay more for certainty.

I'm finding that I'm frequently asked what grade a particular coin would be if graded by CGS. I politely explaind that we grade using the traditional method and that the two are not directly comparable.

Having said that its here to stay. No doubt about it, more and more coins are being slabbed.

As to the superiority of PCGS, well I don't buy that, particularly where British coins are concerned. If slabbing is your thing CGS don't seem to be inferior to anyone else. Having said that it is of course a matter of opinion as indeed is all grading.

The old adage still applies 'let the buyer beware' hence the need to at least have a working knowledge of grading before buying any coin.

Mark

[Nordle11]

I think you've hit the nail on the head there Mark, the increase in desirability of a slabbed coin I too think is down to assurance more than anything else.

I also think that more than ever people are becoming aware of the potential investment in coins, regardless of whether they're interested in collecting or not, and as such they are inexperienced in grading and will pay that bit extra to have a pre-graded coin they can assign a price to.

People love to quote the 'value' that CGS have assigned to their coin when selling it which I find is always inflated.

[azda]

Assurance has gone out the window just now as a near perfect fake slab with a fake coin was found

http://www.coinworld.com/news/world-coins/2015/11/california-dealer-discovers-fake-krugerrand-in-fake-holder.html#

What intermediate coin buyer is going to dispute an NGC slab, or even a bullion buyer?

Edited November 24, 2015 by azda

[secret santa]

Assurance has gone out the window just now as a near perfect fake slab with a fake coin was found

http://www.coinworld.com/news/world-coins/2015/11/california-dealer-discovers-fake-krugerrand-in-fake-holder.html#

What intermediate coin buyer is going to dispute an NGC slab, or even a bullion buyer?

Really interesting - any idea of what that krugerrand would be worth Dave ? I assume that whoever fakes these things will only fake something with a reasonably high value ?

[azda]

I assume it's the Sovereign type weight Rash. I wonder what it's actually made of.

[copper123]

I really doubt if there is any money to be made sending up coins to be slabbed in the uk if there is I am sure it's in the £500 ond upwards coins so i am sure the trend will not bother me much , not on my budget anyway

[RLC35]

I assume it's the Sovereign type weight Rash. I wonder what it's actually made of.

If it is the 1oz gold krugerand, it is one oz of gold! Gold is about $1050/oz, I think right now.

[1949threepence]

CGS must be slabbing loads of coins as the percentage of CGS slabs on Ebay is going up

Is this the way the market is going , get your coin slabbed so you can raise the price by 200%

Is it worth paying that premium for a CGS slabbed coin ?

Personally, I don't think so. Unless you just happen to really want the specific coin in the holder.

I've only ever bought two slabbed coins - both NGC and both MS65. I busted them both out almost as soon as I received them.

[SWANNY]

I have found a coin I want , its the frosted reverse 2001 crown Spink 4554A

Its been removed from the set it was in and slabbed. Just got to justify the price now...

[TomGoodheart]

I have found a coin I want , its the frosted reverse 2001 crown Spink 4554A

Its been removed from the set it was in and slabbed. Just got to justify the price now...

Obviously, I'm not advising you to go crazy Swanny. But I learnt from my Dad that sometimes when you see something you really want, you just have to go for it. Actually, it was the few things he didn't buy and regretted ever after that taught me!

Providing you've made a good purchase, in 5 or 10 years time the price will be forgotten (or at least irrelevant), but hopefully the pleasure of owning your coin will still be there.

.