Resubmitting Coins To Be Regraded

NGC is my last hope since I fired PCGS and ANACS is in an apparent state of limbo at the moment. I sent off my ANA-member MGC associate membership application a week or so ago, am waiting on the package, will submit the 90CC Morgan presuming it wasn't photoshopped or otherwise misrepresented (seller has a good return policy, 0 neg feedbacks). I looked at probably 300 to 400 Morgans over the past month, rejected out of hand any auctions which had fuzzy images, no stated return policy (I got tired of sending message asking if they had one), or obvious problem coins, put in snipes on about 25 coins, finally won this one (beat out three other snipes by 5 bucks). The usual: buy low, get graded, sell high, make a profit. Baby needs a new pair of shoes.

Will do, Terry. Yeah, for the past couple months, both raw and slabbed (in top TPG slabs) Morgans have been going out of sight. I've seen similar increases in previous fall months, but this year I'm surprised how far up the bidders will go on coins of undeterminable quality or, if good images and descriptions of raw coins, how close they will approach market value as if they were slabbed. I sold two ANACS slabbed Morgans (the cleaned 90CC and an AU-58 91CC) for far, far more than I thought they were worth and well over published price guide values (and between the two, more than recovered my costs). I'm not objecting, but it makes investment buying tough. Sniping is the only way to play the game by out-psyching and out-timing the others and letting low bids just sit there while hoping some bid-happy buyer doesn't jump in and raise the stakes. Sellers, meantime, have upped their own start prices for their usually badly overgraded Morgans. And people are buying almost everything listed, even low-graded multi-problem Morgans (cleaned AND damaged). Wish I had a good supply of scab Morgans so I could rake it in.

Ya gotta love those speculators!

I also start all my coin auctions low, either 99¢ or $9.99. Gets the bidding started, sorta like priming the pump. Get two people bidding and it's a frenzy! On high ticket coins, I'll set a low Reserve just so I'm not paying to fill somebody else's collection, but with a generous stated return policy and very low shipping costs, I'm making a few bucks. Of course, there is always the agonizing question after I've shipped a coin, "What if s/he doesn't like it and sends it back?". Hasn't happened yet, but I still agonize. So far, after seven years of eBaying, no unhappy customers.

So basically what you guys are saying is if I'm going to resubmit my SGS coins to PCGS or NGC or ANACS I should crack the slab in it? Whats the best way of cracking a slab without damaging the coin?

I use a dremel with a cutting wheel to crack open my slabs (no matter who its slabbed by) that is if it is sealed and since I have never bought a SGS slab I do not know if theirs is selaed or not, but I would amost guarantee that they didn't spend the money for a machine to sonically seal the slabs and they are just snap together slabs almost like the Coin World slabs, I would think the only thing that is hoplding the 2 peices of plastic together except for the places they snap together would be the gold band of foil tape SGS uses (or used to use) arouns the slab itself. If it is a snap together slab there may be a place where you can even stick a screwdriver or something and pry them apart and not have to use any kind of tool. I do want to tell you that I wouldn't get very discouraged if the coin in question when is slabbed by either company you mentioned that they say it is about 3 or 4 grades lower than the SGS slab stated

thats all fine and good until you get into the rare coins or key date coins then authentication is a must if you intend to sell the coin

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Originally posted by birdman

Reading these posts. Why sent coins out to be slabbed. Fred even you have broken coins out,and made a profit selling them as raw.Looks like raw coins are the way to go,save the submittion fees.Never own a slabbed coin.Just an oldtimer dont understand this TGP.Even the top 3 have change their standard. Saw PCGS slab sell for more than 2 time what a NGC slab,same coin and grade. OLD BIRD OUT

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No I haven't. I've always cracked out coins to have reslabbed in another TPGs slab or to have them (hopefully) upgraded. I haven't sold a raw coin in years. My graded coins in top TPG slabs (ANACS, PCGS, or NGC) easily bring in double, triple, or more what the same coin would bring if sold raw.

Top TPG slabs offer a guarantee that a coin is authentic and without problems or, if in an ANACS slab and it has problems, it will so state. I was just looking at my morning new listings alert emails from ebay for CC Morgans (1879, 1889, 1893, the three which I will buy in grades lower than MS). Of some 50 new listings of raw coins, there was not a single coin I put on my Watch List because I had suspicions or could see that all were problem coins. With these three dates in particular, perhaps 75% of all such coins offered on ebay are problem coins if not downright counterfeit. Even on a raw coin for which I cannot detect any problems, I'll ensure the seller has a solid return policy before it even goes on my Watch List, let alone gets my bid.

When I buy a raw coin, presuming it passes my litmus tests for problems, I immediately send it off to a top TPG for grading and slabbing. Unless it's to go into my collection, it will be resold in its slab for usually 100% to 200% profit.

Bottom line: one simply cannot judge a coin from an image with 100% certainty.

Fred

Roger, Birdman, copy all.

Negative further, out.

PS - My raw uncirculated 90CC Morgan just came in. It appears to have been cleaned or dipped (I haven't taken it out of the flip yet for closer examination). I either return it or send it to ANACS. Looks like the ebay image had been photoshopped to make it cartwheel a lot more than it does; it has poor dull luster. If it proves to be less than advertised, there'll be one more seller on the Discouraged Seller list.

Fred