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Has Anyone Resubmitted In A Hope For A Better Grade?

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banknotelover's Avatar
Australia
218 Posts
 Posted 02/07/2013  07:35 am Show Profile   Bookmark this topic Add banknotelover to your friends list Get a Link to this Message Number of Subscribers
So I decide to try ngc out and ship off a coin for grading... I was shocked when it came back... It came back as a ms64.
I know it doesn't sound tht bad, but I have several comparable examples, 9 actually. All from pcgs ...2 ms 63, 4 ms 64, 3 ms 65 and the one we are talking about I strongly believe is better than all the 64 and 65's.

So I'm really shocked especially also having In my mind that ngc should grade slightly softer when you reAch 64 and up...

My question is. Anyone tried to crack out their coin and re submit in hopes for a better grade? I would normally never think of such a thing, but to me it's so obvious that this coin is much much better than the others I have and I doubt that pcgs just happened to over grade 9 of the others and ngc undergraded 1...

Main point is I know it's better than a ms64... Sucks
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tpg22's Avatar
United States
919 Posts
 Posted 02/07/2013  08:05 am  Show Profile   Bookmark this reply Add tpg22 to your friends list Get a Link to this Reply
That is done all of the time. In fact there are people that search auctions just for that purpose. They try to get coins that will regrade higher and then resell for a profit. Sometimes it works and sometimes it doesn't.
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westcoin's Avatar
United States
9792 Posts
 Posted 02/13/2013  02:15 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Yep, some people exist on nothing but crack outs in the coin business, it takes a great eye, and a good handle on the current market values, but it can be done successfully. It can really mess with the pop reports though. I remember my good friend (ex-owner of ICG) told a story of a particularly rare gold coin that had a pop of 14 and 7 of those he knew for sure were re-submissions from a crack out. There were less than the total population of TPG coins even made. He said he and the other graders (then he was at PCGS) could tell from a tiny mark on the coin that kept it from the higher grade but it was so close. Every dealer that bought it seemed to think the same upgrade potential. I recall the upgrade price was about $14,000 more, so definitely worth it if it ever crossed.

Crack out artists will look for coins with a good spread in value between grades and then look for coins at the top end of the grade in a TPG holder, they also love finding new/old collections to come on the market full of old holdered coins from the beginning of the TPG companies creation, as the TPG's tended to be a bit more conservative back in their beginnings.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2˘ variety collector.

See my want page: http://goccf.com/t/140440
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enworb's Avatar
Australia
4411 Posts
 Posted 02/13/2013  02:36 am  Show Profile   Bookmark this reply Add enworb to your friends list Get a Link to this Reply
Is it an australian coin?
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