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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
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1527 Posts
 Posted 01/11/2019  6:40 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
That "1% of coin's value" thing is interesting. Assigning a grade essentially assigns a value, so you're paying them a percentage of the value that they get to assign. Call me cynical, but it sounds like a racket. It reminds me of real estate, where you pay a realtor 3% to act as your "buyer's agent" but their incentive is still a higher price.
Bedrock of the Community
United States
12812 Posts
 Posted 01/11/2019  6:50 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
That "1% of coin's value" thing is interesting. Assigning a grade essentially assigns a value, so you're paying them a percentage of the value that they get to assign. Call me cynical, but it sounds like a racket.


Actually think it through though. A 1k coin 1 percent is 10 dollars. Even a 100k coin 1 percent is 1k.

But here's the thing, their liability for the coin in the grade is now the full value of how they slabbed it.

It's a marketing tool to get a little more money instead of showing a larger fee upfront.

It makes no sense to bump a grade for a minuscule extra fee while it increases your liability for the coin by 99 percent.
Fire A.J. Preller

Go Navy Beat Army
Pillar of the Community
United States
2802 Posts
 Posted 01/11/2019  10:25 pm  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply

Quote:
...showing the PCGS values for a half dollar, and not the quarter.


I'm glad you caught that since I didn't do my proofreading well but the concept would remain the same for the 1852 25C.

https://www.PCGS.com/coinfacts/coin/1852/5419

For example, by using the PCGS full retail price of $1250 @ MS61 less the $ 775 @ AU50, the differential between these is still a significant $ 475.

I just consulted with PCGS today and they suggested that I write 'any' & 'detail' together under the

MIN. GRADE
CROSSOVER OR
1965 TO DATE

column. By doing it this way the coin will cross over 'no matter what' to a more valuable PCGS holder with or without a 'details' grade depending on the grader...

However, if I decide to leave out 'detail' and write only 'any' under this column a different scenario occurs. PCGS would not cross the coin but would send the original ANACS holder back to me untouched because they found a 'detail' defect.

In either situation I would still be responsible for a $ 35 grading fee assuming that the coin's value does not exceed $ 3,000.
Shipping/handling, insurance & the 1% of final value fees still apply as expected for the crossover coin.

But only shipping/handling, insurance & apply as expected for the returned ANACS holder: NO 1% of final value fees.

As previously opined it's worth the gamble to write 'any' & 'detail' and take the chance that a details grade would not occur (based upon of results of this grading thread). And in the unlikely event I end up with a details grade with an MS (non-numerical) designation, the difference between this class and the current ANACS-AU50 class would probably be at least a $ 300 - $ 400 gain less some expenses.

Now, after receiving all of our members no-detail grading input with some PCGS clarification a crossover done as described above seems give me the most warm and fuzzy feeling of less risk with enough upside potential to devote some time to make it happen.






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7721 Posts
 Posted 01/11/2019  11:12 pm  Show Profile   Check oih82w8's eBay Listings Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
I just love the look of the 2 in the date! Cross it intact.
oih82w8 = "Oh I Hate To Wait"
"I tell her coins keep me off the streets and out of the bars." Moe145
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My Virtual 7070 https://www.PCGS.com/SetRegistry/ty...album/142105
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12812 Posts
 Posted 01/12/2019  10:03 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
I would never cross a coin over as "any details". If you are going to do that just crack the coin out and submit it as a raw coin.
Fire A.J. Preller

Go Navy Beat Army
Pillar of the Community
United States
7089 Posts
 Posted 03/15/2019  10:53 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I have tried to have a details graded coin crossed over from SEGS to PCGS they passed it and the coin came back in the SEGS holder. I cracked it out sent it in raw and that time it ended up in a non details holder by PCGS. I have not had good luck in getting any coins crossed over to PCGS from other holders.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

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Pillar of the Community
United States
1460 Posts
 Posted 03/19/2019  10:41 am  Show Profile   Check Andrew99's eBay Listings Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
I'd crack it out and sell it raw as an AU-55. I generally ask if the holder is doing the coin any favors. If not, I take it out.

By the way, these old ANACS holders are very easy to crack out. In order, the ease of cracking open the holders is:
Old (little) ANACS
NGC
PCGS
New ANACS

The old ANACS will pop open with a little bit of pressure. PCGS has shattered on my before in a vise. The new ANACS laughs at the vise and comes out with a little edge damage. You have to insert it multiple times with different angles.
The collection is in your mind. Dispose of your albums and free your mind from the tyranny of holes.
Edited by Andrew99
03/19/2019 10:44 am
Bedrock of the Community
United States
12812 Posts
 Posted 03/19/2019  12:11 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
By the way, these old ANACS holders are very easy to crack out. In order, the ease of cracking open the holders is:
Old (little) ANACS
NGC
PCGS
New ANACS

The old ANACS will pop open with a little bit of pressure. PCGS has shattered on my before in a vise. The new ANACS laughs at the vise and comes out with a little edge damage. You have to insert it multiple times with different angles.


The New ANACS holders are by FAR the easiest to crack open. The majority of the time I can literally open those with my bare hands. You flex them in your hand and you can either look for the seem on the back to separate a bit and pull the back right off or go all the way and break it in two and then pull it open.
Fire A.J. Preller

Go Navy Beat Army
Bedrock of the Community
United States
16016 Posts
 Posted 03/19/2019  4:43 pm  Show Profile   Bookmark this reply Add Conder101 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.

Say you have an overgraded coin and no one is willing to buy it at the certified grade except at a significant discount. Basically the coin in its current slab is unsaleable. So it is sent in as overgraded. It comes back at the lower grade with compensation based on the difference in value between the two grades, and now the coin is saleable at the stated grade. Between the sale at the current grade plus the compensation from the guarantee, the seller receives close to the amount he would have for the coin in the higher slabbed grade.
Gary Schmidt
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