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 Replies: 21 / Views: 9,016 |
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Pillar of the Community
 United States
660 Posts |
Hey, Thanks to all of you for the education. I really do appreciate all the help. Note to Crazyb0: The dealer who sent the coin off for grading for me has offered me $1500.00 for my "body-bagged," worthless coin. I fail to understand why so many collectors believe that damaged, cleaned, or other problems with coins render them worthless. Diminished value, certainly, but worthless - Heck no! Then again, I cannot understand how having "imperfectly minted" coins can command values far exceeding coins in perfect condition. Oh, well. Perhaps I just don't quite understand the terminology of the Coin World yet. |
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Pillar of the Community
United States
4212 Posts |
fplagge,let's nip this in the bud. Your coin is certainly not worthless. Though most 1/5 bolivars
were recalled & melted, I'd be very happy with a piece such as yours. I believe the last details graded piece
was an XF details, it still sold on the bay for 1200. Hope this lightens your day.
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Pillar of the Community
United States
4085 Posts |
Yes, not worthless...just the value is impacted by the cleaning that occurred in the past.
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Pillar of the Community
United States
4212 Posts |
This is hardly a worthless piece. This is a one-year type, with most being melted after a recall.
This was due to the release of the 1/4 bolivar. I've seen only 1, in Rosehill coin in Boise. It was
horribly bent & they were still asking 900. This is Heritage auction material.
I remember your post from May, I believe you were looking to sell, at that time.
So, how goes it? Any bites?
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Bedrock of the Community
13014 Posts |
Quote:
. I fail to understand why so many collectors believe that damaged, cleaned, or other problems with coins render them worthless. Diminished value, certainly, but worthless - Heck no! Definitely not worthless like you said. Some collectors just don't want details coins period while others may prefer them since they are cheaper. Most collectors will fall somewhere in the middle of those two extremes. There are quite a number of coins where a details grade may be the only thing feasible for a collector either financially or where a straight graded coin would be above their comfort level for a single purchases. If I was doing an album I would be much more comfortable cracking out details coins than expensive gems to put in there. It can also sometimes be the only way to afford one with more detail. If it's a choice between an FR02 or a high VF details if the details reason is minor I might go with the VF instead. Not all details grades are equal. Some are severe like reengraging or a repaired hole type thing and most collectors will avoid those at all costs. Other things like questionable color or a cleaning if the cleaning was light usually aren't penalized as much or stigmatized as much. There are also people who purchase details coins to study them and learn from them so they can spot it in the future. Generally the more common something is the more penalized/stigmatized it will be with a details grade. When you get into rarer issues where even a details coin is mid three figures or more you will usually see more buyers that would at least consider them due to cost restraints. The question then becomes what's an appropriate discount which will be largely influenced by how bad the issue is. Quote:
. This is what is known as "body-bagged" Body-bagged coins aren't details graded slabbed coins. It's an older term back from before the TPGs would do details grades and details coins would come back in a flip as ungradeable. Examples of body bagged coins today would be ones that have questionable authenticity aka fakes, or some surface issue that would be too fragile to slab, or something that they can't authenticate like you can't tell the date/was worked on to much ect. |
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Pillar of the Community
United States
660 Posts |
Hey, thanks for all the support, Guys and Gals. I know I have a lot to learn about the jargon of this genre. To fioti: I had put my coin on ebay prior to having it graded and had only one "bite". It sold for $1050.00 plus shipping to a gentleman in Spain. I mailed it UPS, who forwarded it to DHL. DHL sent it back because "they do not handle coins/currency" USPS also balked at sending it, as did minor shipping companies. I gave up trying to send overseas. Got a later "bite" From an auction dealer in California at the $3000.00 level, but they balked when they received it due to the minor scratch on the reverse. They offered to have it graded, which they did, and are now offering $1500.00. I still feel it has more value than that and cannot decide what to do next. Thanks for asking. Any advice? Fred |
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Pillar of the Community
United States
1375 Posts |
Quote:
Examples of body bagged coins today would be ones that have questionable authenticity aka fakes, or some surface issue that would be too fragile to slab, or something that they can't authenticate like you can't tell the date/was worked on to much ect. The term PCGS currently uses is Quote:
No grade coins returned to the submitter without encapsulation. PCGS indicates that there are just 5 reasons they won't slab a coin: Peeling Lamination, Authenticity Unverifiable, Counterfeit, No Service and PVC Residue. I'm okay with the first 4, but I really think that instead of "No Grading" a PVC coin they should contact the submitter and first give them the option of having the coin conserved. I think most submitters would say go ahead rather than getting a no grade coin back, having to remove the PVC residue and then re-submitting the coin for grading. |
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Bedrock of the Community
13014 Posts |
Quote:
'm okay with the first 4, but I really think that instead of "No Grading" a PVC coin they should contact the submitter and first give them the option of having the coin conserved. I think most submitters would say go ahead rather than getting a no grade coin back, having to remove the PVC residue and then re-submitting the coin for grading. I think the logic is just that it's not worth the slow down to ask when most people will probably either decline to have it conserved or would rather just do it themselves cheaper. I've seen other posts of people suggesting that to them on their forum but I get the impression it happens so infrequently that it's not worth making a change for. Of course there's also that if they started doing it that way some people would just claim they're just trying to get more money ect. |
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Bedrock of the Community
13014 Posts |
Quote:
DHL sent it back because "they do not handle coins/currency" USPS also balked at sending it, as did minor shipping companies. I gave up trying to send overseas. USPS and the others will ship collector coins. If you describe it as something like numismatic item that's accurate and works. If you ask them if you can ship a coin they say no because they think you're talking about sending cash through the mail which you can't do unless it's a collectable type thing. |
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Pillar of the Community
United States
1375 Posts |
Quote:
...would rather just do it themselves cheaper. Is it really cheaper to get it back, remove the PVC yourself and then re-submit? You end up paying for shipping twice, grading twice and handling fee twice (of course the shipping and handling might be spread out over multiple coins and in effect be reduced on a per coin basis). Just seems like it would be cheaper to pay for shipping and handling once, grading once and conservation once. |
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Bedrock of the Community
13014 Posts |
Quote:
Is it really cheaper to get it back, remove the PVC yourself and then re-submit? You end up paying for shipping twice, grading twice and handling fee twice (of course the shipping and handling might be spread out over multiple coins and in effect be reduced on a per coin basis). Just seems like it would be cheaper to pay for shipping and handling once, grading once and conservation once. It can be cheaper yes, plus you also get to see what it looks like after first. PCGS and NGC do good restoration work but it's not cheap. The shipping and handling charges are kind of a wash since presumably you would just include it in another shipment that was going to be going anyway. If you made a special submission just to redo it again then it would obviously be more expensive. They may do the contact thing if it's a high value coin but it's not something I've ever had happen with them (knock on wood). NGC will automatically contact you and see if you want it done, but I feel they're a little quick to pull the trigger with the suggestions so I kind of like that PCGS doesn't do that for the most part. |
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Pillar of the Community
United States
660 Posts |
I just happened to reread this old topic and noted that fioti was interested in what I might have sold my 1/5 bolivar for. I am happy to report that I listed it on ebay for $2250.00 and sold it for $2200.00 to the same collector in Spain whom I had tried to sell it to for $1050.00. Boy, I was lucky to have it kicked back by DHL on my 1st attempt to ship it! |
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
United States
4680 Posts |
Reading this for the first time. Congrats and glad it all panned out well for you!
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Pillar of the Community
 United States
3672 Posts |
Congrats, fplagge! Funny how things work out sometimes...
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Replies: 21 / Views: 9,016 |
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Posted 07/30/2018 4:16 pm
