5 Reasons to Buy and Collect Certified and Graded Coins
5 Reasons to Buy and Collect Certified and Graded Coins
Hobbies: Coin Collecting
5 Reasons to Collect Certified and Graded Coins
by Robert L Taylor, JD
Why should a coin collector and investor buy and collect professionally graded and certified coins? Commonly called “slabsâ€, they are housed in a protective plastic holder. There are many companies – over a dozen are less than 2 years old – which will put your coin in a slab after Certifying that it is Authentic, and assigning a Grade to the coin. The first reason for buying and collecting Certified and Graded Coins applies to all of these companies. However, the most important reasons apply only to the Top Four companies: PCGS, NGC, ANACS, and ICG.
Reason No 1. To Protect Your Coin from Damage.
Visible Damage, which includes anything from finger prints/oils to being stepped on. More importantly, Environmental Damage, including such things as exposure to the air, or the wrong kind of air, chemicals in the air, and touching other objects (e.g.: certain plastics, liquids, food) and other coins, which will change the appearance and even structure of the coin. Damage causes loss of Value, which means Your Investment. A slab is an air tight container, and its purpose is Protection.
Reason No 2. To Establish Authenticity.
You want and need to know that your coin is not only the Real thing, but that it has not been altered (changing a mint mark - fraud) or changed, for example by cleaning, polishing, changing the appearance or surface of the coin, in any way that would render your coin unfit to collect. If it is Unfit to Collect, there won’t be many Buyers or Sellers. Many coins graded by lesser companies end up getting Rejected by one of the Top Four for these reasons.
Reason No 3. To Establish Identity.
Is that 1909 Lincoln penny a VDB? Did you overlook the “S†mint mark. Is it a Type 1 or Type 2? These little identifying marks can mean the difference between a coin and one worth ,000. We all make mistakes and overlook or miss, mint marks, details, and certain other identifying factors which make up “Varities†of each coin. It is the professional’s duty to look for, and establish these things to determine a coin’s true Identity.
Reason No 4. To Establish the Coin’s Grade.
A coin’s Grade is what determines its Value. You want Good Value when you Buy the coin. You want to get what you pay for (or more) and not get cheated. When you get ready to Sell or Upgrade, you want to get the most for your coin. You have to Know what your coin is Worth! The Grade is always an Issue when Buying and Selling a Collectible Coin. Having the coin Professionally Certified and Graded virtually eliminates this Issue, and the Arguments. This is Your Neutral Third Party.
Reason No 5. Trust and Credibility.
The Top Four companies are Consistent, Reliable and Trustworthy. They have Established and Respected Reputations. Their Standards are the Highest and the Best. You are taking a Risk when buying a certified and graded coin from any other company. When you Sell a Certified and Graded Coin, it will speak for you. The reputation of the Grading Company will firmly establish the Grade of the Coin. This translates into the Value or Worth of the Coin.
It is possible to buy and sell a coin that is Certified and Graded by one of the Top Four, sight unseen, and know exactly what you are getting. From a description of the coin (e.g.: 1903 O, MS66, NGC, Morgan #034), you know what you are buying, and what to expect. It always helps to have a little description of its appearance, such as “white hot†or “slight reverse toningâ€, since there is one limitation to selling a Certified and Graded coin sight unseen: It is still possible to buy an ugly coin. But that is why we have scanners, fax and email.
Therefore, as a Coin Collector and Investor, always collect Certified and Graded coins by one of the Top Four. It is the most reasonable way to verify authenticity and identity of every coin in your collection, as well as to establish a reliable Value. Every source of prices for any coin, be it a yearly book, magazine, a weekly or monthly newsprint; all base their prices on the Grading Standards of the Top Four grading companies, which strictly follow the ANA (American Numismatic Association) guidelines. If the Grade of your coin does not measure up to these Standards, then you are only guessing at the Value.
Robert L Taylor, JD
Copyright ©2006, Robert L Taylor, JD
Things You Should Know About Coin Collecting
List Price: $ 3.25
Price: $ 3.25
The coin sets I have collected: First State Quarters of the United States Collector’s Map (1999-2008) District of Columbia & US Territories Quarters Presidential Dollars Coin Collecting Kit 9/11 New York Remembrance Quarter Filmed on October 30, 2010
Video Rating: 5 / 5
Related Coin Collecting Articles
Related posts:
- 5 Reasons to Buy and Collect Certified and Graded Coins Hobbies: Coin Collecting5 Reasons to Collect Certified and Graded Coinsby Robert L Taylor, JDWhy should a coin collector and investor buy and collect professionally graded and certified coins? Commonly called...
- Getting Started In Graded Collectible Coins Getting Started In Graded Collectible Coins Some of the best investments you can own are graded collectible coins. These coins historically hold their value even in times of extreme economic...
- The Advantages of Owning or Buying Gold or Silver Graded Collectible Coins The Advantages of Owning or Buying Gold or Silver Graded Collectible Coins Are there major advantages of owning or buying gold or silver graded collectible coins over that of bullion...
- Deciding Between Gold And Silver Bullion Vs Graded Collectible Coins Deciding Between Gold And Silver Bullion Vs Graded Collectible Coins Silver and gold have always been viewed as symbolic of wealth or status. Even in prehistoric times, rare metals were...
- Coin Collection Hobby - 3 Reasons Your Kids Must Develop It Coin Collection Hobby - 3 Reasons Your Kids Must Develop It The kids of modern society usually spend their free hours watching movies or playing video games. While it may...