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Forum Home > Coin Chat > BUYING RAW COINS IN LIEU OF GRADED COINS

cranko
Limited Member
Posts: 113

 

Hello everybody-

 

Diwali is approaching soon-

 

"The festival of lights"-

 

The time to see family, and friends-

 

Time to eat, drink, and buy some silver potentially-

 

You may even buy some silver coins-

 

In person from a dealer, and from me online maybe-

 

But some of you have bought raw coins from me in person-

 

Remember that 1934 1/2 Rupee silver coin I sold you "RAW"?

 

This gentleman knows who he is, and I saw him in Philadelphia-

 

I mentioned to him that the 1934 1/2 is UNC, and to look at all the surfaces-

 

But it's a little better than UNC, and he looked with his "loop" or "eyeglass"-

 

He agreed, and he bought the coin "RAW"-

 

At a substantial discount to the slab price-

 

Probably a 50% discount-

 

He still has to pay for slabbing, shipping, and time-

 

The time it takes to get the coin back from a reputable Third Party Grading service-

 

You guys know who I use predominately-

 

NGC

 

Numismatic Guaranty Corporation for those of you not familiar with the full name-

 

Some are not so be mindful guys-

 

is NGC perfect?

 

No-

 

Nothing is in life is perfect-

 

A perfect situation is that an unknowledgeable buyer will surely get duped by a knowledgeable seller selling raw coins-

 

Very Easily-

 

Sometimes with good intentions and sometimes not so good intentions-

 

Sometimes the guy selling the coin himself doesn't know what he is selling-

 

That being said something needs to change-

 

The change has to be within you or the dealer-

 

Take your pick-

 

Who is buying a RAW coin or RAW coins from a dealer overseas that is using my auctions as a price point for RAW coins?

 

I see some hands in the crowd-

 

Let's think this through-

 

Let's say last week a coin sold for "X" in a slab-

 

The dealer uses this price "X" as a benchmark or data point to sell you the RAW coin for the same price-

 

Here are some suggested questions to ask yourself possibly:

 

How is the strike, is it the same luster, are there scratches, has it been cleaned, are there nicks, are there dings, what are the flaws, has the coin been artificially toned, and how does it compare to the coin that was auctioned?

 

Even comparing my photos to the "RAW" coin is very difficult-

 

Most of my coins are nicer than the photos-

 

Ask any of the buyers that buy from me, and a majority will stand up for me-

 

My point is that it's difficult to actually see a coin for comparison RAW to an on line than in hand RAW-

 

Back to the questions-

 

Is it slabbed by NGC?

 

Do they guarantee a grade that the slab states when it comes back to you?

 

How long is the guarantee?

 

How do they know the comparable slab grade without using a "loop" or "magnifying glass" nor by using the third party grading service?

 

What grading service are they basing their own grading standards upon?

 

It should be ONLY PCGS or NGC if they are using my auctions again as a data point or any other ebay auction-

 

Not some Numiscrapic Garbagehustlin Scammingthirdclassgraders

 

Unless it's in a comparable slab, the same grade, that comparison should not exist-

 

But even then that is not always true-

 

Sometimes a coin looks better or worse with the same slab grade-

 

Sometimes a coin graded lower will look better than a coin graded higher-

 

Be mindful fellow collectors-

 

Be certain that you are getting the same quality promised "RAW" that you would be getting in a slab at a DISCOUNT-

 

Not the same price-

 

You could use that savings to buy some Shrikhand, Falooda, or Badam Puri-

 

Which you may share with your family, and friends-

 

Share the food, and not the coin pain-

 

Regards-

 

cranko


--

Sanjay C. Gandhi

September 12, 2012 at 12:44 AM Flag Quote & Reply

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