We have all seen shows such as “Pawn Stars” where the shop gets in an old and valuable item, but they won’t make an offer on the item until an “expert” has evaluated it for them.  Wouldn’t it be nice, in the coin collecting world, to have these experts to fall back on?

Oh, wait, we do . . . it is called third party grading.  There are four reputable firms who will take your coins, evaluate their authenticity and grade, and encapsulate them in tamper proof holders for long term storage.

The top of the line firm is PCGS (Professional Coin Grading Service).  You must be a member of their “collectors club” or a dealer to submit coins to them.  NGC (Numismatic Guaranty Corporation) is the next highly regarded coin graders.  You can submit coins to them in the same manner, or members of the American Numismatic Association can also submit coins.

The next tier of graders includes ANACS (ANACS doesn’t stand for anything) and ICG (Independent Coin Graders).  Both of these services take submissions directly from the public.   There is no need to join a “club” or to see a dealer to send them coins for grading.

I would not recommend sending your coins to any other coin grading firm than one of these.

There are several reasons to have your coins “slabbed” by one of these firms.  First, and most important, is to authenticate rare coins and assign a grade to them.  Just like Pawn Stars’ experts, they will pronounce a coin as authentic and then guarantee their finding.  I know personally that for a $500 coin, I’m not buying it unless I’m sure of it being real!  These experts do this for me.

The plastic holders prevent damage to the coins inside them.  Protection from fingerprints, scratches, and dings from being dropped are no longer a worry inside a holder.

They provide another kind of protection, too.   Buying a slabbed coin means the experts have determined it is real, so you have no worries there.  And, when you decided to sell it, it makes it easier to sell because your buyer will have the same assurance you had when you bought it.  Being in one of these four holders really adds value to your coin and makes it more desirable.

Many coin collectors have amassed a valuable collection of coins.  When a collector dies, many times the heirs are clueless about what crazy old Uncle Bob has in the safety deposit box.  With slabbed coins, heirs can put together a list of coins and their grades and a dealer will have a solid idea of the collection’s worth.   A box of loose coins takes much more time to evaluate and their value is subject to the whims of whoever is evaluating them.

When a coin is slabbed, it is given a unique serial number.  These numbers can be valuable in tracking down stolen coins, and in establishing a value for insurance purposes.  Keep track of your serial numbers for this reason.

One additional reason I like to submit coins is to test my grading eye.  Before I send coins off, I make a note of my predicted grade and any problems that might be found in the coins.  It is like Santa Claus has come early when my grades come in and compare them to my notes!

I am a member of the PCGS Collectors Club.  If you have some rare coins you would like to get authenticated and graded, I can help you do that.  Prices start at about $24 a coin, so your coins must have some value to them before it is cost-effective to submit them.   ANACS should also be here in February at our show and they will take your coins, saving your shipping costs to them. Their costs start at about $12 a coin.

I encourage you to come visit our club meetings.  The Brown County Coin Club will meet on Tuesday, October 9 at 6:30 at the Austin Avenue Church of Christ.  Come in the side door through the children’s play area, on the west side of the building.  For more information, contact Bill Cooper at 325-642-2128 or Bob Turner at 325-217-4129. I can also be contacted through my website, PrincipallyCoins.com.