To slab or not to slab rare coins

cannonball · Jan 25, 2020

I recently tried to organize some of my better coin finds. I'm uneasy about cleaning/conserving rarer dug coins. I'd like to get the facts when it comes to rarer dug coins. Id like to hear from people who have sent coins in the be conserved and slabbed by top tier grading/conservation services.

Kantuckkeean · Jan 25, 2020

My first experience with PCGS restoration services was not good. I had never sent a coin in for grading but I had a coin with what looked like possibly a foreign substance on the fields (dirt, dust, grime, schmag) and some toning, which was fine. It was obviously a high mint state (if it qualified for a grade) and could have had a value of greater than $10,000 after comparing with PCGS Photograde™. If it had been improperly cleaned, which couldn’t be determined under magnification and different lighting (at least by me), then the coin would have had a value of maybe $400. I really couldn’t get a feel for what it would come back as… anywhere from “UNC Details” to MS67+

Since it was the first coin that I intended to send in, I sent it alone and I had it insured for the maximum feasible value because I inherited the coin and was concerned that it could get lost or damaged during transit or processing. I also insured it for a high value because their form states that the declared value "... is for estimating insurance purposes only.” When I got the coin and paperwork back, it received “PCGS Genuine – Cleaning UNC Details,” which wasn’t entirely unexpected. However, instead of being charged the $30 minimum since that was greater than the standard 2% of the fair market value, I was charged 2% of the declared value, which they state is for “… insurance purposes only.” I called to dispute the charge. They then offered to only charge me for a different service (Express maybe?), but I said, “No. If I wanted Express Service, I would have done that.” It felt like a bait and switch. They said that a manager would call me back that day or the next. They didn’t call me back. A week later, I called again. Manager was busy and they said one was going to call me that day. They didn’t. I called several days later, talked the situation over with the manager, and the manager agreed to charge me the $30 minimum, as I expected, but told me that I was wrong. I told them that their form states that the declared value is for estimating insurance coverage only and that if they intend to use the declared value for determining fees when a coin doesn’t qualify for a grade, then they need to tell their customers that. After a month, I still hadn’t received a refund of the overcharged fees. I called again to say, “What gives?” They then refunded the money within the day. I’ve got 4 vouchers with them and I haven’t sent them another coin, even though I’ve got several that I’d like to send in, because it left a bad taste in my mouth. I may just go with NGC.

So my advice is that if you go with PCGS, just be careful about what you state as the declared value and make sure that you have a good feel for that when you send them in. Or, just go with NGC. That’s my only experience and my coin was non-dug. Hopefully some others will chime in about their dug coins. Good luck!

Kindest regards,
Kantuck

A2coins · Jan 26, 2020

I think if you go to a coin show pcgs will grade some for free
I think it's a good idea so you know the value or if they are passed on to say your kids they will know plus they are put in a nice safe holder I guess it would depend on the value of the coin compared to the grading cost but a good way to protect and keep them. Tommy

Honest Samuel · Jan 26, 2020

On rare coins, slab is the way to go.

Trezurehunter · Jan 28, 2020

I collect rare, or "tough date" coins. I will not touch them unless they are slabbed, especially since my family will end up with them, and they don't have the enthusiasm about coins that I do. (They sure will when I'm gone) ! This is not the same situation as yours, but if I were you I would just go with NGC. They are the top 2 respected graders of coins, and NGC has a conservatory service also.