Do Dealers Do This Often?

People need to remember that slabbed coin grades are just a persons opinion. There is almost never going to be an agreement on a grade if you show it to 100 people. Also, the graders are human, they make mistakes and have bad days. Mike gave a perfect example of this. Hey Mike, can you post some pics of the coin?

I have been to a few coins shows (at least one a month in the summer) and have found various grading scales. Some over grade, some under, some use a blanket grade. I have bought some on impulse only to regret it later once I got home and saw them under ideal lighting. Although I have never tried to sell something, I imagine that not all dealers know every types grading scale, what might be AU in one series might be MS in another.

I forgot to mention I also have found some very good buys at coin shows, I got an Lincoln MS64-65 1926-S for $70 a few weeks ago. I also got an 1953 Proof Lincoln for $30 in an PF64+. So if you look hard you can find some good deals, what I like to do is focus on one type and learn as much as I can about it, how it grades and what to look for. I also do a ebay search for completed items I am going to the show to buy and use that as my price point.

Most of us can grade a coin within two grade of what PCGS, NGC, etc will grade a coin. If the value of the coin has enough value (I use $500) spend the $30 or so to have it graded by the independent service. As previously reported you may have to resend it several times. I buy and sell very few raw coins. Usually I help collectors estimate and grade and then value, submit the coin to the grading service and upon return hopefully help sell the coin. Dealers don't want to overpay for raw coins, just like you do not want to receive a low offer. Remember always by the coin for its appeal and not its grade.

My local dealers do this all the time. It's part of the dance. Remember that the dealers objective is to pay as little as possible for what you are selling and get as much as possible for what they are selling. What he buys at AU-55 is often turned around and sold for MS62. I've seen it happen to many times to mention. It's very common place. While sure grading is subjective and no two people will agree at any one time but that is often used as a catch all smoke screen for those who need to pay rent at the Brick & Mortor. Just realize it's all part of the game and learn how to grade the series that you collect. Knowledge is you best defense.

A couple of carbon spots not withstanding, that is a beautiful coin. If I'm green with envy, just call it verdigris of the envious! Calling that particular half-cent a "slider" was a gross injustice. He might have been able to quibble at MS60 vs your MS63, but that's all IMHO.

BTW...SuperDave is right. Those are excellent photos. What kind of set-up are you using?

I'm using a dimage A2 with tripod and portrait filter. On the obverse we increased the contrast a bit to get a better picture.

quote:

---

AU58 to MS63 is a big spread! However, I had a $1.00 Gold Piece that was graded by PCGS as an AU58. I could never see wear on the coin and while making some other submissions to PCGS I decided to crack it out and re-submit the coin. I was hoping for an MS60 as this was a type two gold dollar and the bump would have been a major coo. Well lo and behold it came back an MS62!!! My $700.00 type coin jumped to a $4500.00 coin. So, the moral here is even the "big guys" make mistakes.

---

The question here is, which was the "mistake" the AU-58 or the MS-62? The fact that you sld I for 62 money is immaterial as to which grade was right since the buyer was probably heavily influenced by the slab label. I seriously doubt if he would have been interested in paying anywhere near 62 money for thet EXACT SAME COIN, if the label had still said 58.