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 Replies: 11 / Views: 6,294 |
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Pillar of the Community
United States
1283 Posts |
I read on their website that you can send them slabbed coins from other graders, and they will reslab the coin in a PCGS holder if they agree with, or think the grade should be raised. You can also specify a minimum desired grade, so long as that grade is at or below the current determined grade.
Example: If you have an ANACS AU-58 coin, you can specify "only slab if AU-53 or better". You cannot specify a higher grade. You can also specify "any grade" and roll the dice.
Has anyone utilized this service, and if so what was the result?
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Moderator
 United States
6563 Posts |
As far as my understanding goes they charge you regardless of the grade. Or even if they won't grade it because of cleaning or damage like ANACS does. I see no reason why they would not regrade with their own slab. They get the money regardless.
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Pillar of the Community
 United States
1283 Posts |
quote:
As far as my understanding goes they charge you regardless of the grade. Or even if they won't grade it because of cleaning or damage like ANACS does. I see no reason why they would not regrade with their own slab. They get the money regardless.
Well they will definately regrade with their own slab. But I think it's a really neat service the way its set up. If they don't meet your desired grade they leave it in the original slab. So there's no need to break out a coin and send it in raw (risking a lower grade). And obviously you wouldn't do that with a coin that has been cleaned, corroded, etc. I wouldn't send them a slabbed coin unless it was without a "details" noted grade. I was just curious if anyone has used this service. Perhaps purchased an ANACS or NGC slab but preferred it PCGS certified. Edited by USArmyParatrooper
05/23/2007 02:23 am
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Pillar of the Community
United States
6385 Posts |
Hi Trooper, For more info on crossovers, check the "cross-over and crack-out stories" thread from earlier in this forum. I submitted 6 slabbed coins to PCGS for crossover via my local dealer, on the theory that he might get special treatment. I did not authorize PCGS to slab any coins at lower grades. NGC coin results: 1890-CC $20 graded AU-55 did cross at AU-55. 1873 3¢ Silver graded PR-64 did cross as PR-64 Cameo. 1806 Half Cent graded MS-63 BN did not cross. 1923-S 25¢ graded MS-63FH did not cross. ICG coin result: 1893-CC $5 graded MS-61 did not cross. ANACS coin result: 1871 Indian cent graded MS-63 RD did not cross. It's definitely a gamble. My crossover submission cost me around $200. Are the two coins that did cross worth $200 more now that they're in PCGS slabs? Maybe. Crossovers are probably easy money for PCGS. They can refuse to cross for any reason, or no reason. They still get to keep your money. On another occasion I sent in an NGC-slabbed 1914 Barber half graded PR-64. PCGS did not cross it. I cracked it out of the slab and sent it in raw and PCGS slabbed it as PR-64 Cameo. Same coin, two different results. Go figure! You pay your money and you take your chances. Sometimes it can work out! |
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Pillar of the Community
United States
1283 Posts |
Jaobler, thank you. That was very insightful. I wonder how unbias PCGS really is, though.
Let's say you find an extremely conservatively graded ANACS coin. How likely would PCGS be to raise the certified grade? They basically would be admitting that, on that particular coin, ANACS was more strict than them.
I'm definately interested in trying it out. It would be nice to get serveral examples from ANACS and NGC to see if there's a typical success rate.
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Pillar of the Community
United States
6385 Posts |
Hi Trooper,
I've heard that the crossover process involves having the original coin grade covered up during the evaluation, but obviously they could cheat on that. Only PCGS can tell whether they are honestly implementing this policy.
As I've mentioned in previous posts, I'm concerned about PCGS simply gouging the customers. If you send a coin for crossover they can just send it right back along with some generic statement that the coin doesn't meet their standards. They pocket the same fee whether or not they slab the coin. The same issue exists for ordinary grading. If they body-bag a coin as "cleaned" they get to keep your money and they avoid all the expense and liability associated with slabbing the coin. Their profit margin increases every time they reject a coin! That certainly generates an incentive to bias their standards towards "reject" decisions.
I want to believe that PCGS is fully ethical and honest in their dealings with customers, but incidents like my crossover attempt with the 1914 Barber half raise doubts in my mind.
Even so, I'll continue to use PCGS just because their slabs have the highest perceived value in the marketplace. Almost any coin will potentially fetch a higher price in a PCGS holder and I can't ignore that benefit.
If you submit some coins, please post the results. I'd be very interested in finding out what happens.
Cheers!
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Pillar of the Community
United States
1283 Posts |
"Even so, I'll continue to use PCGS just because their slabs have the highest perceived value in the marketplace." I don't know if you saw my thread about my recent purchase. It's an ANACS AU-53 1937-D 3-Legged Buffalo. I'll post a couple pictures. Basically AU 3-Legs are selling for 1200+ in the market, and I picked mine up for 1000. But, it has an OBV Lamination labeled by ANACS in their NEW holder. The lamination IMO actually (adds) to the eye appeal because it coincidentally looks just like war paint. So, basically I believe I got it so cheap because of the Lamination, even though it's not a "problem" coin. I contacted PCGS and they WILL slab it if the laminated metal has not detached. On close inspection it looks to me like it has not. In essence, I think many buyers think "that's why it's in an ANACS slab". If it's in a PCGS slab the first thing most people think is PROBLEM FREE COIN. And then they can look at the Lamination for what it is. An unintended feature caused by the mint, that adds character to the coin. Here's the pictures. FYI: I have others I'm thinking about sending too.   |
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Pillar of the Community
United States
6385 Posts |
Hi Trooper,
You risk only the grading fee and postage if you send your 3-legger in for crossover, and the potential upside is I think pretty good. Your coin looks like a strong AU with a lot of eye appeal. If you decide to go for it, please follow up with a report. Good luck!
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Pillar of the Community
United States
717 Posts |
Re "body bags" & collecting full grading fees: TPGs may body bag coins for the following reasons: Questionable Toning, Negative Eye Appeal, Environmental Damage, Altered Surfaces, Cleaning, Planchet Flaws or Problems, Rim Nicks or Problems, PVC Contamination, Scratch(es), Damage, Questionable Authenticity. ICG, one of the top four (PCGS, NGC, ANACS, ICG), has a "No-Grade, No Fee" Policy; they don't charge a grading fee for coins that they don't grade. ICG does charge a $5 administrative fee for care and handling of these coins, but that is it. Other major grading services charge full price for a "No-Grade". (Coins not graded because of "Questionable Authenticity" are charged full price.) I know ICG doesn't have the prestige & resale value of PCGS, but if you think your coins may not grade because of the above-mentioned problems, you can submit coins to ICG without worry over paying full price fees to get your coins body bagged. Also, their turnaround times are generally much better than the other TPGs. http://www.icgcoin.com/Default.aspx?tabid=655 |
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Bedrock of the Community
United States
14454 Posts |
I have sent a few NGC coins to PCGS for crossover and most have come back the same exact grade (even though I thought they should upgrade) my next experiment is to crack the coins out of their new PCGS holders and resubmit raw and see what the outcome will be but certain situations here at home have not permitted me to do so yet
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Pillar of the Community
United States
2443 Posts |
I think it's only worth it if you plan on selling the coins because it seems that PCGS always brings in more money than other slabbed coins.
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New Member
United States
21 Posts |
" I read on their website that you can send them slabbed coins from other graders, and they will reslab the coin in a PCGS holder if they agree with, or think the grade should be raised. "
I may be mistaken but I do not believe they will upgrade or raise the existing grade. Also they will not cross-over MS/PR 70 coins because they cannot view the edge.
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Replies: 11 / Views: 6,294 |
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Posted 05/23/2007 02:21 am
