I always catch and always say right before the toss: "If I drop it, we'll do it again". In 25 years, I have yet to drop it. By the way, I do not flip it over onto the back of my hand...I just catch it two-handed with a horizontal clapping motion and take the top hand off to reveal the coin. I do recommend that new referees practice once or twice in the dressing room.
Trust me...if you let it drop to the ground, there's no pretty way to bend over to look at the coin, if you get my drift. Also, with some grasses, it is quite possible that the coin would not end up perfectly flat, so then you've got an argument as to which side is up.
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