DON'T Buy These TRAP COINS! (LOSE BIG MONEY)
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- เผยแพร่เมื่อ 5 ส.ค. 2024
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Drew is basically saying: Buy the coin, not the label. Neither of these coins is up to the label in grade. Thanks, Drew.
Good seeing you branching out to other channels, Donald. I really like the Acousha team.
@@TiHerr74 Hi TiHerr. I have picked up a few coins from them also. I am waiting on a killer-toned PR66 1941 Jefferson Nickel from them. They have done me right in their deals.
Specifically (since I had to Google the lingo), old holders aren't sonically sealed (ergo "ratlers"), so a coin like the two-cent piece can go from a high-price red when slabbed to a not-so-prized red-brown when sold. The second coin also had an old holder and was marked as "deep-mirror proof-life" (DMLP); the hypothesis was that it just got the wrong grade since it was likely in the early days of identifying DMLPs.
The other lesson was that, if a coin sold (auctioned or offered) under alleged wholesale, that was likely a tell that it wasn't what it purported to be.
It's good to see a coin dealer openly talking about this sort of thing. The color of copper coins is critical as to value! Great job!
One note, re the Morgan: Technically, a PL or DMPL coin is actually a Business Strike coin. (Way back when, they were often known as 'Commerce Strikes".) The PL/DMPL's were struck from regular dies and went into the canvas bags of 1,000 coins with all the non-PL coins, to be sent out for use in commerce/business. While a PL or DMPL is a Business Strike, a Proof coin is not, because it was struck for collectors, not to be released into commerce.
Proof coins were struck on specially prepared planchets and struck more than once, (and/or at higher pressure,) using different, and highly polished dies.
PL and DMPL examples were among the first coins struck from the regular dies, on regular planchets, but with new or re-worked dies. Once the die surfaces wore down they no longer produced reflective fields.
Right on.
I can see this and other videos ruffling a few feathers possibly but I think yall are doing something a little different than your fellow dealers and collectors on the tube and I feel your adding something good and something unique to the hobby.
Cheers guys
The graders on the web pages state that the grade in the holder is only guaranteed for 10 years so keep that in mind when buying an older (collectable) holder. Good video thanks.
Great fact. Thanks
The toning on the 82-S also brings down the value quite a bit… DMPL collectors typically do not like toning, especially ugly toning
Always a good reminder to buy the coin, not the label on the holder. Speaking of 2 cents, last year I bought an 1864 MS64RD in an old NGC holder, and the coin looked beautiful and red to me. I crossed the coin with PCGS, and it came back MS64+RD. It was a double win. Got an upgrade on the grade, and PCGS confirmed the color was still full red.
Sounds like a good CAC candidate possibly.
What is CAC?
Now that is helpful information! Thank you
Drew: Great lesson! Always buy the coin, not the frigging slab! Cheers from one of your earliest fans!
Great video and info. Thanks for sharing Drew👍
Great Video 👍👍
Thank you so much for the useful information.
Have a Fabulous Day 🎉🎊👍
One of your best videos. Keep them coming! Would love to see further videos on trap coins.
PLEASE!!!! More on Ethical and Moral dealings... as a newbie to these types of things I would really appreciate a better understanding TRAPS! Please!
CAC and COCK. There you have it, your welcome.
Another amazing educational video!!! I got so much value from this. Keep it coming 👍🤝
My pop and I had to shops for over 20 years and honesty will get you every where. We still have a great rating and the love ❤️ people showed us was and still is awesome.
WOW!! Great lesson. I learned a lot and subscribed to learn more
Excellent video! Keep on posting great informational content.
Learned a lot and thanks for sharing. 👍
Great video Drew. Very informative and I'd send this to any new collector. Solid advice
Very good explanation. More trap coins please.
This was an informative presentation my friend.
I’ll be looking closer at coins now after considering the points that you’ve mentioned.
Thanks
Thank you for the lesson. Very informative.
This is very eye opening!
Thanks
Great video and solid advice! Thanks Drew, really appreciate these videos, I'm learning so much from you.
That is the goal Paul, our hope is that all boats rise with information like this more accessible.
Times change and so do coins. Buy the coin, not the holder. Seems like that I have heard that a few times over the years and it is always excellent advice. Thanks!
Really good video. I've been reading up on PL and dmpl. I've got a 82 o Morgan in an old anacs, and it's more reflective than some of the pl I've seen.
Good information, I’m a little bit newer two slabs definitely appreciate the video. A lot of people think that rattlers are are always under graded .Buy the coin not the holder
Hi Drew thank you so much for teaching me about that 2 cent piece and that color change over time !
Very informative and great knowledge for us beginners, thanks 🤠✌️
Great presentation. Lots of good information. The whole time you were talking I could actually feel all the times I was "trapped". I'm not a dealer. I just collect but this inside information being disclosed for free is invaluable. Thank you very much. I appreciate you.
Brian
Thank you, I learn a little bit more each time I watch.
Fantastic video boys
Great job sir. I despise evil fake people. Knowledge is power!
Expo marker on the retired smart board is a low key flex. Love the video and advice. Keep it up!
What do you mean by “retired white board”? You people!
Spot on. Great advice. TY
Great video, well done. Just subbed.
good info, thx
Excellent information in this video!
Indeed, those old holders can cut both ways…
Thanks for the education 😊
Thank you for the great information!
We look forward to making more videos like this in the future. Thank you for stopping by Jim.
Thank You for the Video, Educational.
The 1st thing I was taught about Graded Coins was buy the coin not the Label or the plastic case it is in.
This is a very interesting video, ive ran into many problems buying proof coins on the net and now I only buy them in person. Ive heard a dealer friend of mine talk about buying an 1864 indian cent in ms65 rd only to be told by other dealers it was rb. Copper can be a scary investment and is something I avoid most of the time, not to take away from the beauty or originality.
Excellent video, Drew. Would love to see you put out a video explaining the difference (or similarities) between Greysheet wholesale, Greysheet bid and Greysheet Retail/CPG.
Greysheet bid is wholesale.
What’s CPG?
@@busterbiloxi3833 “Collector’s Price Guide” , otherwise known as Greysheet Retail. It’s put out by the Greysheet. Greysheet bid is the wholesale price that in theory is the price a dealer would pay another dealer (or a collector) for the coin, while CPG/retail is what a collector could expect to pay to buy from a dealer.
There’s a good number of DPL/DMPL’s out there that don’t come close to what we expect these days. PL’s also. Great video.
This is a very interesting video. I admire your expertise and honesty,
When we learn more, we will definitely pass it on.
I agree about auction prices. Collectors and dealers are bidding on these coins and if they don't see the value in the coin it probably isn't there.
Keep these videos coming
Those of us old enough to remember the be.ginning of "grade coins" will remember that a dozen years later when trying to sell these grade coins, all of a sudden the standards changed a bit and sellers were dissapointed It continues to "evolve", almost a the cycle of buy and sell comes around so think about it when you "buy the holder".
You touched on some great points about trap coins and what I dislike the most which are stale coins.
Many times old holders can be great but rarely do they have nice Red coppers, full Dmpl or Pl coins and let’s not forget the dreaded PVC which is more common in Rattlers then ogh’s
If you can find a true Red or true Dmpl in one of those holders you have something special!
Totally agree Tyler and it truly deserves the premium.
Awesome video
Good advice!
Nice job 😊😊😊
you're videos are always very informative in ways that no other channel informs, thank you. I've gotten into collecting, probably won't try dealing coins, still staying on the lower side of priced coins. I ended up just saying, have to chance buying some different morgans if only to understand how photos translate to visuals when in-hand, especially with toning. Sometimes I get a stinker, other times I get something very amazing for a good price! I'd like to get a good dmpl but so many just look weird in photos, and if even in hand I can't tell if a reflection is from the coin surface or from the plastic holder?
Sometime buying online can be tough especially with flashing coins. Sometimes a video helps me, if they can send them.
Great lesson....
you are a hero sir
I totally agree with you all of it
Great video
This is part of the reason I don't collect copper. I don't know enough about them and don't have any desire to pay the learning tax.
For me, silver and gold coins are just so much easier for me to value, and they will always have a bullion value as long as they aren't fake.
With ither coins, copper and clad, you still have to worry about their authenticity, plus the ither stuff.
I know if you're going to be a dealer, you don't have the luxury to avoid clad and copper
More traps, please!
Can you comment sometime about coins noted on slabs as environmental damage ?
See the same thing with fatty holders, where they would never regrade at PL or DMPL. A lot of times they also have real dark greyish toning covering the surfaces making it even harder to see.
wow trap coin 2 is exactly the kind of coin that trapped me. Also a OGH DMPL which i bought from pictures but didnd't look DMPL at all. That was a lesson learned
Hey! Thanks!
I will bottom line this for the audience. Take the coin back to PCGS and have them review it and properly correct the grading mistake. They have a guarantee. Make them own it and sell it back to them or properly grade the coin with the correct BR attachment. Stand your ground with them. There is no ethical way to proceed with this coin until or unless you, the dealer, correct it with PCGS.
Good video.
Good job
Another trap are the early NGC * designations. They were far more lenient in handing them out in the first couple of years. The majority of them wouldn't get that designation if they were to be resubmitted raw with their current grading standards.
copper coins in rattlers seemingly always turn RB. you take your chances buying a RD penny in a rattler. sending old holders to Cacg with DMPL or PL designations, will ultimately come back downgraded. coin inflation is rampant especially with NGC. if you want an accurate grade send to Cacg.
I appreciate you commenting friend. I hope you are well.
PCGS coins with Cert-linked auction records are pretty much always a trap unless the coin upgrades post-auction or the buyer waits several years to sell.
Copper is very suspect to changes over time, slabbed or not
When selling a coin how should I package 📦 the coin if it is not slabbed?
interesting , good decision
Wouldn't the ethical thing be to send it in to PCGS for review and have it put in the correct holder? That way whoever buys it won't be able to take advantage of someone else.
Thanks for the video. Some additional thoughts in the same vein. A holder is only as good as the coin within, in terms of .1) surfaces - while the coin may legitimately be considered a proof, if there are a lot of unattractive die polish marks, a coin with fewer polish marks, even though they may both carry the same grade designation, will be the more attractive/desirable, or on a circulated coin, maybe it carries a Net grade because while the reverse was very worn or perhaps poorly struck to begin with, the obverse was strong enough to be able to call it a VF30 in averaging a total, (as an example) .2) details- coins struck at the beginning of a dies life cycle are going to carry better details whether the coin is mint state, or later on in it's circulated life, or if the planchete it was struck on was slightly uneven or slightly porous or even discolored or of inferior composition, that will affect the details carried forward, then there is the strength of the strike ,how much pressure or force was used relative to the quality of the metal + how worn or over polished were the dies by that time? and .3) Eye appeal -color, amount of toning, type of toning, surface texture, number of marks, depth and harshness and location of those marks (REGARDLESS of what it's graded!), and on , and on, many nuances. And finally, now days, what holder it may be in, what generation holder, condition of the holder, does it carry a sticker designation also, if so which one???? And on ,and on....
More traps pls
Strangely enough, if you were to send the "65 Rd" in to PCGS for "reholdering," would they take the loss and give it the right grade or would they just reholder it as Rd? They really went through hoops to avoid refunding me for a capricious show grade and my money is on that Rd/Brn being shunted off in a gold shield as Rd.
Not sure about the reholdering policy, (you may be right, they may well reslab it as RD,) but if you sent it in under the grade guarantee policy, they wouldn't refund any of the cost to you when you bought it, even though it's definitely not RD anymore, since they did away with the guarantee as it concerns color, quite a few years ago(!)
What’s OGH?
If someone is worried about loosing money on them, they are a investor not a collector. As a investor I would hope they understand that or they are a terrible investor and are FOMO shopping
Simple goal is to never buy any coins from Admiral Ackbar..."ITS A TRAP".... 🤣🤣🤣
Sheldon Cooper from the big bang theory says it so too 🤑🤣, great video and a hard thing to accustom your brain to always do, slowly but surely.
interesting
I'm wondering about copper spots on gold coins also coins that have dark toning.
Some toning on gold is desirable, we posted a video recently with a $2.5 Indian gold piece that had desirable toning on it. In our opinion.
@AcoushaCollectibles What about silver coins I have a 1870 cc seated dollar that has dark toning gaded fine 15.
Sometimes alloys don't mix properly,those spots are higher concentration of copper in that area.You can try to clean those spots,but not recommended
🤘🤘🤘
By the coin, not the holder.
Ngc site tells you copper grades expire after 10yrs
VAULT BOX SERIES 😮I fell victim
What is the DM in DMPL
Deep Mirror
This is why I never buy copper coins/exonumia. EVER. From me it was common sense. I've seen so many slabbed Lincoln cents that have a RD designation that are now RB or BROWN. I won't play that game.
They call me "The Trap King". Drew; i command thee to knock of the nonsense. Off wif his HEAD!!!! CHARRRRGE!
Why doesn’t CAC sticker ANACS coins?
John Albanese did not help found ANACS. He aided in the creation of PCGS, CACG, and NGC. That may be the reason why he only stickers those coins. That is my assumption and opinion.
When anacs started grading coins in 1979, they made many mistakes that hurt their reputation and they never recovered. No one uses anacs for expensive coins and they're a 2nd tier grading service. I use them for common coins.
@@AcoushaCollectibles thanks
@@Tyrock67 thanks, do you believe ANACS is better now than before? From my limited experience I’ve seen ANACS always grade a little harshly
Yes, I believe anacs is better now, but expensive coins should go to pcgs, ngc or cacg.
I not sure I want to go thru the chute and have to sidestep all the fakes out there. Seems like a crapshoot. Just my opinion.
Always buy the coin and Not the slab
Absolutely Mark, thanks for stopping by.
Helpful tips, but you could have condensed this into a 2-minute video. It took about 4-5 minutes before any content actually started.
This is why one should stay away from PCGS or NGC.i have never payed for a coin in plastic. And stick with pennies .as it's cheap and maybe lucrative but gold and silver are for those whom can afford as such.....I have found pennies nickels and dimes to be cheap and fun...until I win lotto hahahaha.
all this mumbo for $50?
Morgan silver dollars valued at $7,500 Grey Sheet??? HHMM? Why don't I like this deal WITHOUT seeing the coin or the holder? The answer is that any silver dollar priced in this range FIRST needs to be recently graded by: PCGS, NGC or CAC. The grading company choice would be based on which service is bringing the best prices for the grade. Second, looking at this coin the toning is not attractive. So DMPL or whatever I would not try to rep this coin and sell it. For $7500, I want shiny and without any rainbow colors. Rainbow is the copper surface reacting to moisture. I never pay up for any OGH PCGS coin. I make money without the traps. 2C copper coin anything is 2 pennies and nothing I want o bother with. $20 Liberty double eagles are where I make my bones.
There are coins on your eBay that’s are overpriced…
10% cheaper on our online coin shop. Unfortunately eBay needs their cut.
Most coins on eBay are overprices. Your best bet are buying from the auctions.
am an artist and have alot better trained eyes than any of what so callled grader i can engrave a coin so we work to regulate sue them and demonstrate i canget more than 50 peupuls just familly and friends who is intersted
No offense guy you took a really long time to say that people better look at what they are buying before they are buy it. And everybody has got a phone today that they can just look up what a coin should look like.
Howdy, I appreciate your comment. We are very intentional about the content we produce. If we didn’t think it was important to our viewers we would of held it back. By the performance of the video you can clearly see that it spoke to a few people.
Two minutes 50 seconds of introduction.
It's the same with graded 70 silver coins that start getting milk spots. Talk about killing a coin's eye appeal and value.
Thanks. for. having. sharing. us