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Crack It Or Cross It: This Is The ?: Think Hard Before Breaking Out The Hammer

 
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Pillar of the Community
United States
2789 Posts
 Posted 01/10/2019  1:57 pm Show Profile   Bookmark this topic Add mdpmedia to your friends list Get a Link to this Message
I have never removed an enclosed coin from its protective TPG slab in my life.

For whatever reason I've just been afraid to do it for fear of damaging the coin or making an unwise financial decision.

Here is the URL to the PCGS auction prices for my 1852 25C Seated Liberty:

https://www.PCGS.com/coinfacts/coin/1852/6268

I am looking at between a 50 to 61 insofar as potential $ figures for this coin. Just for the record I posted the close-up shot of the dings to Ms. Liberty's right arm 'after' the initial 62 guess came through on this thread.

The current grade assigned is AU50 sealed in an ANACS slab having white with green letters.

I am considering two options that I need some advice on how to proceed:

A) taking it out (cracking) to have PCGS receive a raw coin to slab or

B) leaving it inside its ANACS holder as is and request a crossover to a PCGS slab.

What are the pros and cons/risks of each above alternative w/r/t this coin?

Thanks



Pillar of the Community
United States
2789 Posts
 Posted 01/10/2019  2:06 pm  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply
To save me some time and to assist the viewers I'm just placing the URL below for this coin currently being looked at for grading:

http://goccf.com/t/337276

fyi
Pillar of the Community
United States
869 Posts
 Posted 01/10/2019  2:34 pm  Show Profile   Bookmark this reply Add thisistheshow to your friends list Get a Link to this Reply
I have never cracked and submitted or tried to cross. But I have read quite a few anecdotes from people who have. From what I have read:

The actual cracking process is safe. Use one of the recommended methods and wear eye protection.

Submit it raw for a better grade.

Prices realized for PCGS vs Anacs slabs is a huge difference so definitely worth it.
Bedrock of the Community
United States
12467 Posts
 Posted 01/10/2019  4:15 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
If you send it raw they get to see it raw which can get it a better grade, it can also drop the grade, or get a details grade too though so it is the riskiest by far.

Crossovers they grade through the slab so it is the most conservative grading they do and if they have any doubt it won't cross. The upside is that you don't risk it becoming a details coin or losing the current holder.

Trying for cross over would be the safe bet and if it does and you still feel it is undergraded you can always send it back for a regrade where they will regrade it raw but you'll have the protection of their grade guarantee.

If it doesn't cross that's when you have a decision to make of leaving it, trying again with a lower minimum grade, or cracking it out and submitting raw.
Pillar of the Community
United States
6091 Posts
 Posted 01/10/2019  6:32 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
...you'll have the protection of their grade guarantee.

Just curious about the specifics of this guarantee? Can you link me to it? Thanks.


- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Bedrock of the Community
Learn More...
United States
41384 Posts
 Posted 01/10/2019  6:43 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply

Quote:
"I am looking at between a 50 to 61 as far as potential $ figures for this coin"


What does this mean?
Pillar of the Community
United States
2414 Posts
 Posted 01/10/2019  6:45 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
It all depends on your risk tolerance. Low risk send in holder to cross at sane grade or higher. High risk with large upside crack out and send in raw.
Pillar of the Community
United States
2789 Posts
 Posted 01/10/2019  9:03 pm  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply

Quote:
What does this mean?


Taken from:

https://www.PCGS.com/coinfacts/coin/1852/6268

These are the lowest and highest prices that I would expect to receive from any potential buyer based upon the final assigned grade:



Then there's still the 17% Heritage buyer's fee to account for somehow etc.
Pillar of the Community
United States
3479 Posts
 Posted 01/10/2019  10:11 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Don't crack it unless you enjoy gambling and LOVE headaches. Been there done that.
Hi, my name is MikeF and I'm a degenerate coin collector. I also like adventure, big trucks, long walks on the beach and the Kansas City Chiefs.
Edited by MikeF
01/10/2019 10:12 pm
Bedrock of the Community
United States
18556 Posts
 Posted 01/11/2019  08:42 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I have no slabbed coins. If and when I acquire one, I break out the coin for an Album. If that one was mine, it too would be taken out of the slab and put in my Albums. I collect coins, not plastic.
just carl
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15832 Posts
 Posted 01/11/2019  10:45 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
Just curious about the specifics of this guarantee? Can you link me to it? Thanks.

https://www.PCGS.com/guarantee
Gary Schmidt
Pillar of the Community
United States
6091 Posts
 Posted 01/11/2019  2:38 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Thanks Conder,
The guarantee says (https://www.PCGS.com/servicesandfees):

Quote:

Quote:
GUARANTEE RESUBMISSION: If you have a PCGS-graded coin that you feel is overgraded, misattributed, or counterfeit, submit the coin to PCGS through the Guarantee Resubmission Service. A charge of $25 per coin plus shipping and handling must accompany all submissions through this service (Standard or Gold Shield). If your coin is downgraded, the terms of the PCGS Guarantee will apply and all charges related to the Guarantee Resubmission will be refunded


Mpedia is thinking his coin is undergraded. So does the same guarantee, as stated, apply? I don't think I am splitting hairs here b/c the guarantee takes the time to specifically state the term "overgraded."


Quote:
Trying for cross over would be the safe bet...

15.00+1% premium based on coin value.


Quote:
...and if it does [crossover] and you still feel it is undergraded you can always send it back for a regrade where they will regrade it raw but you'll have the protection of their grade guarantee.

25.00 for grading if it does not downgrade under the resubmission plan.

Basic level service fee if sent in under the reconsideration program: 22.00 (plus 1% value if it upgrades)

Total so far if you get the higher grade:
15.00 + 22.00 = 37.00 (forgetting two 1% premiums and gold shield)
their chart (https://www.PCGS.com/servicesandfees) says 22.00 S&H

59.00

Someone please tell me where/if I mam making a mistake. I am trying to understand the fees/guarantees etc. and this thread info makes for a good study.






- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Edited by Earle42
01/11/2019 2:39 pm
Bedrock of the Community
United States
12467 Posts
 Posted 01/11/2019  2:54 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Someone please tell me where/if I mam making a mistake. I am trying to understand the fees/guarantees etc. and this thread info makes for a good study.


Lots of them confusing the guarantees and service levels.

There is 0 guarantee for a coin that is in anything but their holder. Once it is in their holder there is a guarantee for a coin that downgrades if it was over graded as long as it isn't some clear label error as the original submitter.

Cross over fees are the service level fee and an additional a 1% fee if it crosses.

Regrading and guaranteed resubmission are two completely different things.

The Guaranteed resubmission is for coins that you believe are overgraded or were doctored and are asking them to either conserve the coin and regrade it or for a payout from the grade dropping. That tier is essentially the warranty claim tier.

Reconsideration would be for them to regrade the coin while it is still in the PCGS slab. The cost is the submission level cost and an additional 1% if it upgrades, they just will not crack the coin out unless the grade changes. IF the coin downgraded under this tier the warranty would also kick in.

Regrade is asking them to take the coin out of it's PCGS holder and grade it raw again. The cost is just the submission level cost. If the coin were to downgrade the guarantee would apply again.

The gold shield on this coin is completely option. Gold shield is required for non modern world coins, express level and higher, and I believe mint errors and special things like cal gold are included as well.

https://www.PCGS.com/submissionguide
Edited by basebal21
01/11/2019 3:40 pm
Pillar of the Community
United States
6091 Posts
 Posted 01/11/2019  3:30 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
@baseball
Thanks for this explanation. I was also puzzled as to why someone would deliberately submit a coin to be downgraded since that also means losing a perceived market value. Your pointing out the concept of doctored coins made it finally make sense to me.

- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Edited by Earle42
01/11/2019 8:26 pm
Bedrock of the Community
United States
12467 Posts
 Posted 01/11/2019  3:58 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I was also puzzled as to why someone would deliberately submit a coin to be downgraded since that also means losing a perceived market value. Your pointing out the concept of doctored coins made is make sense to me.


Some high end collectors will push for that if they think the coin is a half point to high or that it would CAC a grade lower.

In general though the doctoring on early slabs is one of the more common things, puddy took a while to turn and at first was very hard to spot a couple decades ago. You'll see a puddied gold coin in an old holder turn up from time to time. There's some other reasons but they do pay out a decent amount every year on some of those
Pillar of the Community
United States
7094 Posts
 Posted 01/11/2019  4:41 pm  Show Profile   Check edweather's eBay Listings Bookmark this reply Add edweather to your friends list Get a Link to this Reply
If not mistaken, you are showing the PCGS values for a half dollar, and not the quarter. The upside for crossing the quarter isn't that much. I'd just leave as is.
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