The numismatic world grows more diverse by the day, and not just in terms of who collects, but also what they collect. David Schwager is a terrific representative of these outside-the box numismatic collectors. Most collect coins, but Schwager collects third-party holders. Widely regarded as “Slab Man,” he is well known in numismatic social media circles. He’s often spotted cruising bourse floors at coin shows around the country buying old or unusual third-party coin holders – and he’s always looking for any opportunity to snag sample holders.
A young David began collecting coins when he was a child. However, like many young numismatists, he put the hobby aside as he grew older and other life circumstances and pursuits took priority. He came back into the numismatic fold decades later. “High gold prices in 2010 brought me into a local coin shop to sell a South African Krugerrand, and I became a regular at the store’s Saturday morning bid board events,” he recalls. “Collecting interests at different times have included Lincoln Cents, U.S. type notes, high-denomination French currency, and exonumia from Orange County, California.”
Schwager became interested in expressly collecting holders when he grew aware of sample slabs on a numismatic podcast, leading him to find an unattributed sample holder at his regular coin store. “I began to buy and sell samples, but found almost no pricing information,” he says, compelling him to build his own price reference by manually inputting any data he could find from eBay sales.
“The data set, and information exchanged with other specialists, became the basis for the first edition of the Sample Slabs book in 2015. The interest in and access to samples naturally led to researching and exchanging information about collectible holders of all types.” The following year, PCGS launched its online Museum of Coin Holders. “When people ask me questions about PCGS vintage holders, I can often refer them to this valuable resource.”
Schwager’s collection consists of some 300 third-party holders, including a slew from PCGS. One of his favorites is a PCGS first-generation holder with a serial number of 1080498, “making it about the 500th coin certified by PCGS during their first few days in February 1986,” says Schwager, further explaining that the first PCGS serial number was “about 1080001.”
Just as ardent coin collectors have their Holy Grail coins (think the 1909-S VDB Lincoln Cent, 1804 Draped Bust Dollar, and the like), those who pursue coin holders also have their numismatic objects of desire. Schwager’s grail hails from the relatively short-lived PCGS Regency holder line of the 1990s. “A PCGS Regency sample appeared in 2016 and set a record sample slab price of $3,449 that still has not been exceeded. I would be one of several collectors intensely interested if it came up for sale again. Two are said to exist, but sample collectors and the market have seen only one.”
As “Slab Man” says, collecting primarily third-party holders (versus the coins within them) is now a mainstream numismatic pursuit. “When the first-edition Sample Slabs book came out in 2015, I had to explain to most people what a sample slab was. When the third edition launched in 2025, no explanations were necessary.”
The growth in his niche of the numismatic hobby compels him to write for a variety of other publications and provide expert quotes for other authors; this allows Schwager to continue educating others about the appeal and challenge of collecting holders. Yet, as much as he enjoys the collectability of the holders, he also embraces their important role in making the hobby a safer place for everybody. “The reliability maintained by PCGS for 40 years gives buyers confidence, helping collectors build and buy with that confidence.”