Before certified coin grading, coins were collected raw. It’s been that way since day one. Today, it is still a popular way to collect. However, much of the fun has been taken out of it.
In a sense, the top grading companies have spoiled the appeal of raw coins. Think you are an experienced coin grader? Most people will more than likely get burned in today’s market. We don’t have the resources of these grading companies. One may avoid the more obvious problems of cleaning, scratches, or damage. But no one can catch all of the more subtle forms of these problems. Would you be able to catch every form of repair, doctoring, tooling, planchet flaw, wheel mark, artificial color, counterfeit or crack-out? A raw coin could have an infinite number of problems. Most people lose.
That’s one reason why PCGS or NGC coins should be worth more. They catch problems, and not just the easy ones. But they make lots of mistakes too. Sometimes the ugly coins make the grade and the beautiful coins fail. Ultimately, it doesn’t matter what makes the grade or not. The point is, how much can you get for it?
Coin collecting has never been the same since certified grading got started. The good old, innocent days of raw coin collecting has been gone for over 30 years. It’s not as fun as it used to be. That might be one reason we have less new collectors. How do we bring back the fun for the average collector? I don’t have the answer, but it’s something to think about. Raw coins are still fun but just so risky.
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Now, it has come to my attention that people are paying big bucks for some of the PCGS/NGC flunkies. And it’s not that these people can’t grade. It might be because these coins are placed in 2nd or 3rd tier grading holders as higher grade or original. Could you blame these companies? They grade coins, but they might not have the experience and equipment for more precise grading. Their coins often look very nice. In the old days, the buyers of these coins might do all right. Sadly, they are 30 years out of touch. I am sorry to say impending disaster awaits some in our hobby ahead. At the least, great disappoint and dismay.
Raw coins should be collected for fun. If you really know what you are doing and can get what you want low enough, go ahead. You still might do well. But there is already enough danger investing in PCGS or NGC coins. Have you caught on?