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All Forums Category: US Coins and Currency Forums Forum: US Classic and Colonial Coin Grading

Why Did This Coin Lose A Grade?

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coin1024
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 Posted 07/13/2012  11:27 am Show Profile   Bookmark this topic Add coin1024 to your friends list Get a Link to this Message Number of Subscribers
So I'm watching this Goloid dollar in today's auction: http://coins.ha.com/c/item.zx?saleN...lotIdNo=1504

It's graded Proof-61 by NGC. I was doing some research and found the exact same coin previously graded by PCGS as Proof-62: http://www.pcgscoinfacts.com/CoinIm...aspx?s=62004.

What I don't understand is why. Presumably no one would crossover a PCGS slab into a NGC slab at a lower grade. Was it cracked out and submitted raw? If so, wouldn't you then send it back to PCGS to hopefully regain the 62 grade before selling it? I would think it would more than pay for itself, even if a few submissions were required. Or did something happen to the coin that lowered it a grade...(and this is my real question - is it a troubling sign that it now sits in a lower grade? Or the seller just didn't want to bother?).
SsuperDdave
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 Posted 07/13/2012  12:20 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
Was it cracked out and submitted raw?


This. The value difference for a one-grade drop is minimal, but a step up to 63 is worth close to 50%. A no-brainer for a dealer with guts. And you sure as heck wouldn't resubmit it still in the slab if that's what you were looking for.
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mkman123
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 Posted 07/13/2012  1:36 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
There are people that play the crossover game for $$$$ reasons.
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All Forums Category: US Coins and Currency Forums Forum: US Classic and Colonial Coin Grading



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