Welcome to my world. It seems like every week we get coins sent to us for evaluation from clients and non-clients alike for evaluation that they purchased elsewhere sometimes before they met us and sometimes after they met us. Without fail there are coins that are overgraded, slightly cleaned or else just not as described. However, every so often I get a coin that borders on the criminal.
We have received many calls and e-mails wondering why we are not adding more coins to our inventory. Simple answer…not enough fresh original material. When you love the hobby and grow up in the business, it is frustrating to see coins subject to dipping to get good grades.
Well, another Central States show has come to pass and for lack of a better word it was more of the same. Nice coins were in high demand, same old material went begging, blah, blah, blah, but in all seriousness that is the truth.
Well I managed to live to see the “Big One” by PCGS. Thankfully, all the excitement did not kill me. I must congratulate them on finding a way to make more grading fee money on coins already graded in a market of dwindling supply of fresh material. Look for NGC to quickly follow suit.
By Joseph Presti, Esq.
The old adage is true; you get what you pay for. Everyone likes a bargain but you have to ask yourself why would a coin that lists for $500 wholesale sell for $500, while similarly graded coins may sell in the same auction for 30% or 40% more? The answer is simple, all coins in the same grade are not created equal.