Buy the coin, not the slab.

This is wise guidance, and a prudent collector needs to do more than read the numbers on a holder before deciding whether to buy. At the same time, it is accurate to say that a collector buys both the coin and the slab. In addition to buying the certification service's reputation and a numeric grade, the coin buyer purchases the holder as a physical object.

Grading service special labels enhance and differentiate that hybrid object, serving a function beyond recording the coin's authenticity and condition.

The Postmodern Era

American numismatics has entered the postmodern era of coin grading. In the premodern period before certification not so long ago, the grade was a general opinion agreed upon by the buyer and seller, negotiated anew with each purchase.

The modern era began with photo certificates in the 1970s and slabs in the '80s. This is when the grade on the major service label became-while not infallible-impartial and well-informed, the judgement of a generally trusted third party.

In the postmodern period of the 21st century, the grader's opinion remains the most important part of the grade, but collectors and the market also consider the overall presentation, appearance, and appeal of the coin and holder taken together.

Set collectors, for example, may buy only coins in the same type of holder to give their sets a uniform appearance (or they may have their completed sets re-holdered to put every coin in matching slabs). A collector will decide on a coin based not only on the enclosed object, but on how that coin and holder taken together fit into the collection. Similarly, special labels become part of the collection and collectibles in their own right. Buy the coin and buy its slab.

To read the complete article, see:
Coin Grading Service Special Labels in the Postmodern Era(http://coinweek.com/recent-articles-video/coin-grading-service-special-labels-postmodern-era/)