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 Replies: 32 / Views: 7,232 |
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Valued Member
United States
379 Posts |
Hello all
This is just a general question and any advice you may have will be helpful. I sent off to NGC the most valuable coin that I had to be slabbed and graded. The coin looked perfect to me with a magnifying glass... no scratches (minor or major), no toning, no blemishes or fingerprint marks, etc. The previous owner said the coin had never been out of its capsule and I believe him (but I do not know if he was the original owner of the coin, if not I accept that a previous owner may have opened the capsule).
I sent my coin in along with a $300 fee (I am sure the coin shop took a big chunk of that since I am not a member of NGC but the coin shop was, so they sent it off for me.
It came back as a MS-67. To say the least I was disappointed. I was able to locate this same coin that will be going under the auction block later on this month, the label was identical except NGC had graded it as a MS-68.
Steam came out of my ears. I know that photographs can be very unreliable and should not be used to determine the exact grade of the coin... I get that. That being said, mine LOOKED like it was in the same or better shape.
So should I do anything about it? Should I just accept the 67 grade and forget it? Should I send it back to NGC for a re-grade? Should I send the slabbed/67-graded coin to another service, or should I take it out of the holder and send it to another service in the hopes of getting the 68 grade? If so, which one might be the best? I am not after a lenient company who would overgrade the coin... just one that might be a little more fair.
Of course, by doing any of the above, I suppose it is possible that another company sees things in the coin that I cannot and give it a LOWER grade. That would be a disaster. Should I take that risk?
Any thoughts would be appreciated... Mike
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Rest in Peace
United States
18456 Posts |
MIKE , first of all you never told us what kind of coin you are talking about or showed a obverse and reverse photo of the coin .
also you said you submitted the coin with a $300 fee . that is an unheard of fee unless you submitted a lot of other coins with it .
without seeing this coin I can not recommend what you might want to do as far as re submitting , etc .
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Rest in Peace
United States
7075 Posts |
 We have a lot of very knowledgeable members who are happy to share their opinions and expertise but without even knowing what the coin is they can't help you. |
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Pillar of the Community
United States
536 Posts |
You could try sending it to CAC in the hopes of getting a gold sticker. (Which would prove it was likely under-graded)
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Pillar of the Community
United States
1316 Posts |
In general, MS coins grading over above 67 are quite rare. Depending on the series / date / mint, sometimes a 66 is an achievement. Also, I think a lot of subjectivity comes into play with high end MS coins and a 67 today is a 68 tomorrow and back and forth. Remember the graders are human and the imperfections at play here are micro.
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Bedrock of the Community
United States
94367 Posts |
4504 - Please confirm the $300 fee. For one coin?
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Bedrock of the Community
United States
94367 Posts |
Also -  to the CCF! |
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Bedrock of the Community
United States
12437 Posts |
The $300 fee makes no sense at all  You can submit a coin valued up to $100,000 for 24hr grading at a show and the grading fee is only $125. |
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Pillar of the Community
 United States
4589 Posts |
$300 implies a very high value coin.
The reality is that - for the vast majority of coins graded - the TPGs get it right. I know we all love to grumble, but that's the truth. So it's very likely that there are flaws that a knowledgeable eye sees that you don't see (or don't want to see).
For some small # of coins they miss by a grade. And - very rarely, but it DOES happen - they woof it totally.
That's why regrading and reconsideration tiers exist. For a fee you can have them either check their work and/or grade it blind and see if it upgrades. Best bet is to contact customer service on the phone and talk to the reps (they are very knowledgeable about the processes and options).
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
7618 Posts |
In other words.....  .....to be able to help you! |
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Bedrock of the Community
United States
11951 Posts |
I am surprised the focus is more on the $300 fee, though it might be a factor.
It is my experience most collectors can not consistently grade coins
above MS 66. Many can get close, get it between two grades.
For example, between a 67 or 68 .... Or a 69 or 70.
As you get to the higher grades strike quality, luster and eye appeal
can become a factor. Also denomination and series can come into
play. Even modern coins versus classics.
As far as a $300 grading fee, it should be a very high value coin
where shipping insurance has to be considered. A more experience
collector would not pay that amount ... For say a coin with a value
less than $10,000.
With out knowing and seeing the coin, it would be very hard to say what
action should be taken.
Of course ... Just my opinion
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Pillar of the Community
United States
3540 Posts |
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Pillar of the Community
United States
1211 Posts |
There are so many thing wrong with this, I don't even know where to start...
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Pillar of the Community
United States
7375 Posts |
Maybe the coin is so valuable, OP doesn't want to show it  |
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Bedrock of the Community
United States
12437 Posts |
Quote:
I am surprised the focus is more on the $300 fee What else can we focus on when the OP has not provided pictures or even told us what kind of coin it is  |
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Pillar of the Community
United States
4469 Posts |
The $300 for a high dollar coin through a coin dealer could be a fair price for grading for a coin over 5K.
A 5K+ coin with 24 hour grading service with express shipping and insurance would cost about $250, and the dealer is going to get his cut.
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Replies: 32 / Views: 7,232 |
Posted 08/10/2016 3:40 pm
