03-18-2014 10:17 AM
OK. I know (now) that INB grades aren't reliable. But, I took a flyer and bought a lot of 100 slabbed coins for $200 that are "graded" by INB.
My real question is:
Would it be better to:
- Keep them slabbed and tagged and sell them as INB graded?
- Keep them slabbed and remove the INB grading label (if possible without destroying the slab) and sell them as ungraded?
or- Remove them from the slabs and sell them as loose coins?
I haven't received them yet, so I don't know how hard it would be to remove the label or unslab them.
Also, I'm just getting started in this, and was unaware of INB's reputation when I bought them, but have learned a lot from this community discussion!
Thanks for any insight you can provide.
03-18-2014 10:24 AM
I'd send them all back as soon as you get them. Otherwise, you can spend them.
03-18-2014 10:32 AM
And without seeing them, you base this on what?
03-18-2014 10:36 AM
on the fact that they are in INB slabs...
03-18-2014 10:42 AM
Which in some cases are selling for more than PCGS slabs of the same grade. I know they are not reputable, just looking for an answer to the question I asked.
INB: 2000 S Roosevelt Dime DCAM
PCGS: 2000 S Roosevelt Dime DCAM
Thanks.
03-18-2014 10:55 AM
*sigh*
INB slabs are basically less than worthless, as they command a negative premium...
03-18-2014 11:02 AM - last edited on 03-18-2014 07:02 PM by li.varia
I know it's easy to slam this company, but how about an answer to the question I asked? From what I've received so far, break them open and sell them as loose coins.
You have a great reputation *smedley*, but the first response kind of set me off.
03-18-2014 11:11 AM
You're entirely welcome.
By the way, I'm the senior numismatist at a very successful coin shop.
INB isn't a grading company. If the coins are in an INB slab, that means they're not worth slabbing. Period. You didn't mention what your coins are. My guess is that they're post 1964 US.
03-18-2014 11:12 AM
@summitartistry wrote:
Would it be better to:
- Keep them slabbed and tagged and sell them as INB graded?
- Keep them slabbed and remove the INB grading label (if possible without destroying the slab) and sell them as ungraded?
or- Remove them from the slabs and sell them as loose coins?
If you want to list them on eBay, any coin in an INB holder MUST be listed as ungraded ("raw"). With this comes a few restrictions, you can't mention the numeric grade, you can't put a price estimate, and you can't list any for $2,500 or higher.
03-18-2014 11:14 AM - last edited on 03-18-2014 07:02 PM by li.varia
@summitartistry wrote:
I know it's easy to slam this company, but how about an answer to the question I asked? From what I've received so far, break them open and sell them as loose coins.
You have a great reputation *smedley*, but the first response kind of set me off.
jeff isn't that gruff in his coin shop.
You can't go by the fact that he has (0) feedback or that I have (12). These IDs are not the ones we use to buy or sell on eBay.
03-18-2014 11:18 AM - last edited on 03-18-2014 07:03 PM by li.varia
@summitartistry wrote:
I know it's easy to slam this company, but how about an answer to the question I asked? From what I've received so far, break them open and sell them as loose coins.
You have a great reputation *smedley*, but the first response kind of set me off.
my answer is the same as Jeff's... do anything else with them and you'll either lose money or rip off somebody else...
there is no quick and easy to make money in coins... at least, if you want to be honest... INB and other bottom-feeders do nothing but rip off the ignorant...
03-18-2014 12:38 PM - last edited on 03-18-2014 07:03 PM by li.varia
@n.s.sherlock wrote:
@summitartistry wrote:
I know it's easy to slam this company, but how about an answer to the question I asked? From what I've received so far, break them open and sell them as loose coins.
You have a great reputation *smedley*, but the first response kind of set me off.
jeff isn't that gruff in his coin shop.
You can't go by the fact that he has (0) feedback or that I have (12). These IDs are not the ones we use to buy or sell on eBay.
No. I'm exactly this "gruff" in the coin shop. One of my co-workers suggested that we add "Dream Crusher" to our business cards because being the crusher of dreams is just part of the business.
It would be wrong to offer false hope. Stuff is what it is.
03-18-2014 12:59 PM
@indian_jeff wrote:
No. I'm exactly this "gruff" in the coin shop. One of my co-workers suggested that we add "Dream Crusher" to our business cards because being the crusher of dreams is just part of the business.
It would be wrong to offer false hope. Stuff is what it is.
Nobody is that gruff. I bet you smile all the time 🙂 I have to be gruff in my work, it is like a requirement 🙂
03-18-2014 01:10 PM
No. I never smile. I make my customers smile, chuckle and laugh, though. Of course, that's only when I'm being serious.
03-18-2014 04:01 PM
@indian_jeff wrote:No. I never smile. I make my customers smile, chuckle and laugh, though. Of course, that's only when I'm being serious.