Hi I am DKenny and I am new here. I have heard a lot of bad things about Coast to Coast coins and their raw coins which I know to avoid like the plague and that Ken Pines got booted from the ANA. I want to buy a bunch of NGC and PCGS slabbed coins in Mint State and I am wondering if I will get burned buying NGC and PCGS slabbed coins from them or would I get a good deal from them when it comes to slabbed coins.
If you're concerned about buying from this guy, why not simply go elsewhere? As asked, it sounds as if you're looking for generic material, so it's not as if it will be difficult to find decent dealers who would be happy to help you. Also, focus more on the quality of the coins you buy than on getting a so-called "deal".
But I do not have the time to go and find brick and mortar dealers. Online dealers are the most convenient for my time. I am only planning on buying Mint State NGC or PCGS certified coins and I liked them because the prices seemed reasonable and they show a picture of each individual coin that they have for sale where I can choose the individual coin and not a stock photo. But then I found out the bad stuff.
And I don't think Books suggested that you do. He merely suggested that you go elsewhere. There are lots of good on-line dealers. But there is something else you need to consider, just because a coin is in an NGC or PCGS slab, that does not mean that you should buy that particular coin. That's what Books is talking about when he says to focus on quality instead of the deal, or price. You see, not all coins graded the same are equal. You can have 2 examples of the same coin both in NGC slabs and both graded MS64. And coin #1 might sell for $250 and coin #2 might sell for $450. (The very same thing is true if you substitute PCGS for NGC above.) The huge price difference is because of the quality of the coin. Now even if you can't tell the difference between coin #1 and coin #2, a good dealer can tell the difference. And a good dealer will help you with things like that, especially if you ask him to do so. So you don't want to go just anywhere to buy your coins, you want to find a dealer who will work with you and help you. He will use his eyes and his experience to only pick out better quality coins for you. Yeah they may cost a bit more, but they are worth it. Whereas the lower quality coins are not.
This post reads like an agenda or character/business assassination. I would think it might be removed.
But I am wondering if I buy a coin in an NGC or PCGS slab from Coast to Coast, would I encounter the same problem that others have had with coins that are cleaned or what not
To reply to Tom B, I am tempted by the offers that Coast to Coast has, but I want to make sure that if I go and buy slabbed coins from them, I would not have the same problems that everyone else has with them.
It is about buying the coin, but their raw coins have a reputation for being cleaned and whizzed and likely to come back in a body bag from the major grading services, but the deals for slabbed are tempting and I prefer getting slabbed coins from them because of their reputation for raw coins.
Look at the slabbed coin...and determine if the coin is graded properly based on photos. If the coin is slabbed by PCGS or NGC...then the coin is likely not a problem coin so you shouldn't worry too much about that. If the coin looks good for the grade and is priced properly in your opinion...then buy it if you want it. That being said, I don't know much about this dealer but if what you say is true then my advice to you is to take your business elsewhere. In my experience, dealing with bad dealers is always a risk...slabbed coin or not. The coin might be fine...but if you decided you want to return it or have some kind of shipping issue they might be hard to work with. I personally don't support businesses with bad reputations by giving them my hard earned money.
Their customer service and bullion is pretty good from what I hear, but the raw coins give them a bad rap. I might take the risk and order slabbed coins from them and see what happens, but as I said before, the deals coupled with the big CoinWorld ads are tempting. But I do want to know others' experience with buying slabbed coins from them.
It doesn't really matter what the seller does with their raw coins. If they are selling NGC or PCGS graded coins, they are not problem coins, and if you actually do find one that has been messed with then it is covered by the NGC/PCGS grade guarantee. That said, most of the people who have responded to this thread are trying to tell you that there are low end and high end coins for the assigned grade. What you might think is a deal might be a coin that is low end for the assigned grade and destined never to achieve a retail price, which is why it is discounted in the first place.
I have never bought from them. May I ask where you heard the bad reports? I seem to recall some negative comments myself, maybe here at CT or another forum. A dealer once told me a friend of his sells cleaned and problem coins to them. Also if the guy got kicked out of the ANA I wonder why they are allowed to run big two page ads in the coin magazines? I guess it's about the money.
The bad reports appear in many places. But the prices for the certified coins seem reasonable and not too good to be true and not discounted, but fair which is what I meant when I said good deal, The fact that they have pictures of all the certified coins available which you can choose a specific coin tempted me too. Another note is that this guy still has the ANA and NGC logo on his website but is not a member or authorized dealer of any of these organizations. Coast to Coast is an authorized PCGS dealer.
You've basically answered you own question: You are uncomfortable buying from this dealer, so look elsewhere. Here is a starting point: http://www.cointalk.com/threads/u-s-coin-websites.237043/#post-1796063
