"slabbing" chips is a good thing , one dealer/collectors opinion

1) third party authentication and grading is a way that the novice collector can feel comfortable with purchasing exspensive high end chips. Even the experienced collector can feel more comfortable knowing that he is getting what he is paying for. I personaly will pay $12,500 for a Bugsy $100 that grades MS65 at ICG. I recently passed at the chance to buy one for $8500.00 due to condition (it was almost uncirculated). I am at a level where I want to be relatively sure of what I am buying for my own collection.

2) I want to be able to sell any chips that I do not want anymore to a much larger audience.

3) I want my chips to look 20years from now the same as they do today.

when I noticed that the grading systems for chips were so subjective to who was doing the grading I felt it was time for someone (a non-interested third party with integrity) to give this hobby some help and normalcy.

4) when anacs/PCGS started grading coins 80% of the dealers screamed to high heaven. If it was not for the grading services we now have in place the coin biz would still be in the dark ages with the average collector at 70 yrs. plus. Due to third party grading we now have customers who walk into a store and spend 20k-30 and more at a time because they feel more comfortable knowing that the grading is now accepted around the world.

5) ICG is not trying to tell anyone how to run thier business they are simply giving some of us want we want. When chips broke the $10,000 barrier there was no question that it was just a matter of time before this was required to prevent fraud, overgrading, altering etc..

For this industry/hobby to really go somewhere there must be dealers and there must be collectors. If you accept this as fact then you must allow for the need for protection of the collector for the more expensive chips.

Many years ago I joined the American Numismatic Association as a life member. If today they sent me notice that all of it's members were banned from buying or selling certified coins i would waste no time in telling them to take a flying leap. This hobby is in it's infancy and it's about time for it to grow up.

My offer stands for the $100 chip at $12,500.00
and there are many more chips that I would pay serious money for if they were Slabbed in MS65 or higher.

This is just my opinion. I would in no way ever try to force my opinion on anyone as it seams some do. I will leave you to make up your own minds and hope you all have a happy holiday!

Mark Scott
Sahara Coins, LLC
Las Vegas, NV