Coin Not
Posted in Uncategorized on 08/29/2003 01:42 pm by admin
Coin Not
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US $19.00
Having a coin certified gives an authoritative opinion as to the coin's grade, and attests to the coin being issue free. However, all grading is based on opinion, and as coins blend from one grade into another, opinions among grading specialists may vary.
Having a coin certified by one of the numerous grading companies that is not universally accepted by numismatists has little effect on the value of a coin. While showing a coin in a slab on an online auction site might bring a slightly higher bid than otherwise expected from a coin novice, it is likely some numismatists might avoid bidding on the coin based on the perception that the coin is not properly represented. This translates to skepticism as to the question of the veracity of the seller. Sites like eBay also have strict rules regarding certified coins. Only those certified by one of the few services eBay has on the approved list allow can be called certified by the seller.
Before sending a coin for grading, ask whether it is a good idea. Having a coin graded is an expensive matter. If a coin has a value of $20, and the graded coin might bring in $30, it is not worth the grading fee to enhance the value of your coin. Also, if you suspect a coin will grade MS-70, which is the grade of a perfect coin, but instead it grades MS-69, the difference in value might be more than acceptable. But, once graded the coin has an expert opinion associated with it. Yes, the slab can be removed, but the cost of having it placed on the coin will remain your expense. Have an idea regarding grade, and ask for a reassuring opinion from a respected dealer, before investing is certification. A dealer who supplies many of your coins, or a member of a club to which you both belong, may be willing to share a little knowledge with you, as long as you understand opinions of grade vary. Never should you approach a cooperative dealer with a disappointing grade from a grading service that differs from the opinion the dealer gave, unless you wish to eliminate the dealer's expertise from your future access.
Another consideration is that the grading service might require that you join. American Numismatic Association members can join NGC, which is one of the premiere grading services. If you are an avid coin collector, joining the American Numismatic Association is well worth doing, and the NGC service is an extra.
If you have only one low value coin to submit, inquire whether you can have a dealer handle this for you. Many coin tiers have a minimum of five per submittal to NGC, making it impractical to send in only one at a time.
Usually, it is understood that very rare pieces will be certified before sale, as an assurance to the buyer that the coin is genuine, and in the condition claimed. Selling a coin worth tens of thousands of dollars may require certification to satisfy the buyer, or may be sold conditionally with the buyer having the right to have the coin certified within a time period to verify all claims.
Coin slabs are transparent on both sides allowing the coin's obverse and reverse to be easily viewed. If you do have a coin certified, consider paying the nominal extra fee for a scratch-proof slab.
Black Spaniel Gallery provides coin information on the http://blackspanielgallery.com website. All are welcome to visit.
Henry M. Smith provides information and sells coins through Black Spaniel Gallery. The website is http://blackspanielgallery.com for both coins and information.
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