Slabbed Coins vs. Raw Coins: Which Should You Collect?
If you’ve spent any time around a coin shop, you’ve probably heard the debate: “Should I buy slabbed coins or raw coins?” Or maybe the better question is, “Should I slab my coin?” The truth is, there isn’t a one-size-fits-all answer. Both slabbed and raw coins have a place in the hobby, and the key is knowing when certification adds value—and when it simply adds expense.
A slabbed coin is one that has been authenticated, graded, and encapsulated by a third-party grading service such as PCGS or NGC. For many collectors, this provides peace of mind. A slab verifies authenticity, offers a professional opinion on the coin’s condition, protects it from further handling, and often makes it easier to buy and sell. If you’re spending hundreds or even thousands of dollars on a coin, certification can be a worthwhile investment.
Raw coins, on the other hand, haven’t been certified. Some collectors avoid them, but I don’t. In fact, some of the nicest coins we’ve ever purchased have walked through our doors raw. They’ve come from old collections, dusty albums tucked away in closets, inherited estates, and even cigar boxes that sat untouched for decades. Since no one has paid grading fees yet, raw coins can often be purchased for less, and for collectors with a trained eye, they can present incredible opportunities.
One of the questions we answer more than any other at the shop is, “Should I slab my coin?” Let’s use a real-world example. Imagine you walk into a coin shop and find a 1921 High Relief Peace Dollar. The owner likes you, cuts you a deal, and you walk out with it for $50. Congratulations—you’ve already done well. The coin is probably somewhere in the G-4 to VG-8 range. She’s not exactly a beauty queen, but she’s still pretty enough to take home to meet Mom.
Now you’re thinking, “Maybe I should get her slabbed.” Well, now you’re asking her to prom. First she needs her hair and nails done.
The grading fee with PCGS might run around $40. PCGS will also charge a $10 handling fee—because apparently they can make fees up on the spot. Shipping and insurance to PCGS could cost another $15, and once the coin is graded you’ll pay roughly $20 to get it back. Suddenly, your $50 purchase has turned into about a $135 investment.
Let’s assume everything goes perfectly. The coin comes back with a straight VG-8 grade. Greysheet is around $110, and retail might be around $145. After all the paperwork, grading fees, shipping, insurance, and weeks—or even months—of waiting, you’ve essentially turned $135 into a $145 coin. Congratulations…you made about ten bucks. And that’s assuming the coin receives a straight grade. If it comes back with a Details designation because of an old cleaning, repair, or hidden problem, those numbers can change very quickly.
This is one of the biggest misconceptions in the hobby. A slab doesn’t magically create value. It doesn’t remove scratches, erase a cleaning, improve eye appeal, or make an average coin extraordinary. All it does is provide an expert opinion about what the coin is and what condition it’s in. Sometimes that opinion significantly increases marketability and value. Other times, it simply confirms what you already knew while costing more than the value it added.
Before submitting a coin for grading, ask yourself a few questions. Is the coin valuable enough to justify the expense? Is it a key date or important variety? Is it commonly counterfeited? Will certification make it substantially easier to sell? Most importantly, will the increase in value outweigh the total cost of grading? If the answer to most of those questions is “no,” then the smartest financial decision may be to leave it exactly as it is.
Don’t misunderstand me—slabbed coins absolutely have a place in every collection. In fact, if someone else has already paid the grading fees, waited months for the submission to come back, assumed all the risk, and you can buy that certified coin at a fair price, that’s a fantastic scenario. They did all the expensive work for you.
As a coin shop, we buy both slabbed and raw coins every single day. We appreciate both because each has its place in the hobby. Some coins absolutely deserve certification. Others simply don’t. Every coin should be evaluated on its own merits rather than following a blanket rule that everything should—or shouldn’t—be slabbed.
People often ask me which I prefer.
Honestly, I like them raw.
There’s something special about holding a piece of history in your hand. You can feel its weight, rotate it under the light, study every mark, and appreciate the craftsmanship in a way that a slab simply can’t replicate. That’s especially true with ancient coins. Those pieces circulated through empires centuries before grading companies ever existed. They’ve been carried by merchants, soldiers, rulers, and everyday people whose names have been lost to history. Holding one in your hand is about as close as you’ll ever come to shaking hands with the past.
At the end of the day, there isn’t a right or wrong answer. Collect what makes you happy. If grading makes financial sense, then by all means, slab the coin. If it doesn’t, don’t feel pressured just because everyone else seems to be sending everything to PCGS or NGC. Buy the coin—not the holder.
If you’re wondering whether a coin is worth grading, stop by Redmond Rare Coins & Precious Metals. We’ll give you an honest opinion, even if that opinion is to save your money. Sometimes the best decision is to send it in for grading. Sometimes the smartest decision is to leave it raw.
After all, great collectors don’t chase plastic—they chase great coins.