To Slab Or Not To Slab

[Zincoln]

So, following on with Fogrider, Schoolofhardnox, and Abenson's responses to cleaning coins in the field, what is the threshold for sending a coin in for slabbing that makes financial sense?  I appreciate a beautiful and rarer coin as much as the next person....but with the way grading is done, it may not make sense unless rare or in spectacular shape.  Most of these don't get the oxidization scab like desert coins, but will the tiny scratches from being in the ground (vs a pocket) result in a damage grade.  Is the threshold $100, $150....or will your grandkid get more some day selling 'as is' rather than a grade of damaged.  You can always crack a slab and disregard a grade, but then you are out the fees.  This is not to suggest the goal of cheating anyone...but the value of the coin is somewhat subjective based upon the collector and how they feel.  First 2 were taken to a coin shop, and they didn't suggest they knew they were dug until I told them. 

Attached are 4 coins that I've considered slabbing as they could range from $150-$300 if they were graded as undamaged.  These are the best dates and or quality specimens I've dug. The gold coin obviously is higher on pure gold content.  I've also found nice dates like a 1908s IHP and a 1909s wheat, but even with great details, the damage from verdigris is too great to bother with. Have a really sharp 1919s Merc, that is borderline UNC, but even then the value isn't high enough IMO to slab.  They make nice binder coins...

I've considered having the gold coin conserved to have them remove the minor rust scale from the nail it was in the hole with. 

Only 1 coin has had anything more than water and a Qtip done to it.

[abenson]

The dealer I use charges $15-25 to clean the coin and $25 to have it graded. I personally only have gold coins or semi-key and key date silver coins graded that are in at least extra fine or better condition. I have several gold coins that have been graded as Au 50 and Au 55 but in dug/cleaned condition. Still a common date $1 gold coin in that condition dug can fetch $350 plus. If nothing else it will HOPEFULLY keep my family from donating hem to Savers/Goodwill when I die and sell them for a little extra cash.

[Zincoln]

Thank you for your perspective Andrew.  Probably more effective for me to consult with several local dealers to see if they will offer the service vs. private limitations of using NCG w/o making it an investment.  

 

[GB_Amateur]

For a single coin submitted to one of the top two grading services (NGC and PCGS) by a non-member, throwing in shipping costs (both ways) I think it's somewhere between $50 and $100.

Depending upon the soil conditions and thus the color/patina, they may not be able to tell a coin was recovered from the ground.  Coins in circulation get minor damage (microsratches) from everyday handling.  Damage during recovery and/or handling post-recovery is a different story.  Ditto if the ground had rocks, etc. that came in contact with the coin over the years.  In my area silver coins often come out just fine; it's the copper content coins (including 25% nickel composition coins) that really take a beating from ground chemicals.

If the open market (e.g. Ebay) were logical it shouldn't matter too much if a coin has been slabbed or not.  For non-mint state coins it's not super difficult to grade a coin, with careful and honest practice.  (This also means the listing photos should be high grade.)  The problem comes from the uncertainty of what the grading service might find and that adds a discount, effectively.  Technically a coin found in the ground cannot be mint state, BTW, although at least one poster here got an MS grade from a professional service.  Talk about a rare find -- I mean a coin so pristine that the pros couldn't tell it hadn't been coddled!!  Yes, mint state coins can have scratches from handling at the mint and/or in transportation to banks which is why there are eleven MS grades.

Cleaning coins and how to do it, including where to get it done is the biggest can-of-worms I've ever seen.  It's easy to say "get it professionally cleaned" but who is this 'professional'?  Do they guartantee anything?  That's easy to answer -- a big fat "NO".  And the graders can tell if a cleaning (other than possibly simple stuff you could do yourself) has occurred, whether by a pro or not.

Zincoln, those are some beautiful looking coins, BTW!

 

[abenson]

37 minutes ago, GB_Amateur said:

For a single coin submitted to one of the top two grading services (NGC and PCGS) by a non-member, throwing in shipping costs (both ways) I think it's somewhere between $50 and $100.

My dealer charges $25 from PCGS if I remember correctly. Although you do have to wait until he travels to a major coin show to get those prices. Otherwise yes you also have to pay shipping both ways.

[Zincoln]

Thank you GB.  Also appreciate your perspective, and am aligned in thought.  What makes a pro, and why is that any better than you or me when done with research, care, appropriate solvents, etc.  Might be nice to have an ultrasonic cleaner like the jewelers use...