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Coin Show Report - Long Post


Burks
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Today was the first show I've been to in 8+ years. I was so excited that I read the paper saying it started at 9 A.M........it really started at 9:30 ;) So I had to sit there for 30 minutes waiting. I was the youngest there by a good 20 years (I'm 20 by the way). Talk about feeling odd.

 

I learned a lot about grading by eye today. One guy asked me to grade these two Morgans (he had the grade covered with tape, NGC graded). The first I guessed as being EF because of color and wear. I was right. The next I said AU because it was dark but just a few dings. It was graded MS-63. He then explained why it was like that. Pretty interesting stuff.

 

After browsing for about a hour through the 30 tables I had a good idea what I wanted. After going between two tables I settled on a 1912-S Barber Half for my type set. The owner graded it a VG and I agreed according to Redbook. Price was good at $7.50, so it was mine! Will post scans if I fix the scanner.

 

Next was a table that had numerous NGS slabs for cheap (yeah I know, bad company). One of them was a very eye appealing 1981-S Type-1 Kennedy Half. It was graded a PR-66 DC. For $3 I couldn't pass it up.

 

I did miss a door prize by two numbers though. Not sure what it was.

 

All in all I had a great time. Met some really nice people who were surprised at my age. They don't see many 20 year old collectors checking out Trade and Morgan dollars ;) I did find out that the show is MONTHLY! So Nov. 20th will be a day I can't wait for. That day I may just stick around and chat it up since I feel more comfortable around dealers.

 

:ninja:

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Cois shows are a lot of fun! Glad to hear you had a good time, and the one good thing about those second-tier slabs is that often time you can buy the coin for just the value of the coin without all the baggage from the slab! Of course that means that everyone involved needs to know it's a second-tier company!

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This amazes me a little;

 

"One guy asked me to grade these two Morgans (he had the grade covered with tape, NGC graded)."

 

 

We don't have slabbed coins (even when they do show up we never take the grade on them at face value). Very few dealers write grades on their coins, they just have them sat there in trays with a little card telling you what it is, the date, the country and the price.

 

Some put on the grade but alot don't. I find it doesn't really matter because i grade it myself anyway. Often i've disagreed with the dealer over the grade, sometimes they are too lenient, sometimes too strict.

 

I even grade series' i've never seen before. Like these Roman coins... never graded one in my life, but i know a VF coin when i see one.

 

Anyhow sounds as if you enjoyed the show and long may you continue to do so.

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I'd say 90% of the coins in 2x2's had a grade on them. Whether they were put there by the current owner or not I'm not sure of. Most were pretty much on the spot. Some of the Morgans I would not have graded so high. A lot had some pretty heavy bag marks on the face but still had MS-63 next to them. I only pay what I feel is a good price. If the dealer doesn't want to go down on the price, so be it.

 

As for the second-tier slabs: I would have paid the same amount for the coin in a 2x2. The attractive case makes it easier to display and protect. Just an added bonus.

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I'd say 90% of the coins in 2x2's had a grade on them. Whether they were put there by the current owner or not I'm not sure of. Most were pretty much on the spot. Some of the Morgans I would not have graded so high. A lot had some pretty heavy bag marks on the face but still had MS-63 next to them. I only pay what I feel is a good price. If the dealer doesn't want to go down on the price, so be it.

 

 

Think of slabs as 2x2s and you'll go far.

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Think of slabs as 2x2s and you'll go far.

 

Basically what I do now. It's only an opinion. Until a machine can grade every coin accurately every time, no grade is 100% for sure (well maybe Poor).

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Basically what I do now. It's only an opinion. Until a machine can grade every coin accurately every time, no grade is 100% for sure (well maybe Poor).

 

 

Even a machine wouldn't be any use. Grade is merely opinion... the opinion of the machine is the opinion of the man or woman or other machine that set it up.

 

Grading is not science. Alot of Third Parties try to sell it as such and market it as such. But in the end a grade is an opinion. No two grading guides are the same, no country grades the same, no two people grade the same. Sure there might be similarities that can lead to consensus, but that is merely it, consensus but not fact.

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