A raw coin
is a coin that isn't in a major grading service holder, such as those issued by NGC
. Even though the coin might be in a plastic case of some type, it is still considered to be raw
if it isn't graded and slabbed
(encapsulated) by one of the leading grading services
. All loose coins, and coins in folders and albums are considered to be raw
When you buy expensive raw coins
on eBay, you're taking a chance of being ripped off.