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 Replies: 16 / Views: 1,818 |
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Pillar of the Community
United States
1018 Posts |
I recently acquired a very nice coin. It is a classic series coin with a PCGS population of 34 and 8 total higher. It is CAC stickered and the CAC population is 4 with 3 higher.
The coin is housed in an older style PCGS holder (not a rattler, but the slab is 20 years old or so.
The value of the coin goes from around $3000 in its current grade, and increases to about $20,000 in the next one.
Additional notes: It is a variety that carries a premium and the only time a similar coin (same grade and CAC with the variety) sold at Heritage it brought close to $10K. The prices I listed above are for the "non variety type".
I did a bit of research on the sale price history, but I'm sure there are other places I should look for more data. I checked the usual spots....HA, Stacks and GC.
Would you take a shot at a regrade? I will post pics and reveal the coin later.
Edited by RedRaider
01/14/2022 5:22 pm
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Pillar of the Community
United States
3848 Posts |
I'll wait for pics. Hard to say unless you have a really choice coin. It may take multiple submissions, so keep that in mind.
It depends on your goals too. Are you keeping the coin for generations? Are you flipping this coin?
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. Edited by jacrispies
01/14/2022 5:35 pm
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Pillar of the Community
 United States
1018 Posts |
Yes....I did take that into account. I also took into account that some of the population numbers might be skewed with resubmits as well. Will never be able to tell the true population.
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Bedrock of the Community
United States
94367 Posts |
I'll wait for the pics.  |
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Bedrock of the Community
United States
19136 Posts |
Same here, eager to see photos.
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Pillar of the Community
United States
1048 Posts |
He may not want to share pics for privacy reasons.
My advice is to wait until you're ready to sell (or your heirs are ready to inherit!), unless the expense isn't significant for you. Enjoy the coin for what it is. The slab is ultimately meaningless except in the marketplace.
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Pillar of the Community
United States
6383 Posts |
I've offered this same opinion before. Your best chance for an upgrade is to crack out the coin and send it in raw. You presumably will also want to pay the attribution fee to have the variety indicated on the new slab label. The downside risk is that PCGS will find a problem with the coin and/or assign a lower grade. Given that the coin is in an old PCGS slab and has a CAC sticker it's not marginal for the current grade and has no significant problems. So, the risks don't seem too bad.
If you sent the coin for a "reconsideration" of the current grade I'd guess the chance is close to zero that they would upgrade it for you.
Just my opinion! Looking forward to some images of this "very nice coin"!
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Pillar of the Community
United States
1694 Posts |
This is the problem with grading companies.
Any coin that is 3k in 1 grade and 23k in the next really should not left to be graded by semi competent folks where one day its a 1k coin next day it could be 3k and the next 23k
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Valued Member
United States
202 Posts |
The old days of cracking out and submitting raw until a desired grade is achieved are gone when it comes to higher valued coins like this. If you crack it out and try to submit raw, PCGS will only allow a submission if you give them permission to image the coin. It is a requirement that enables them to make sure that the same coin maintains the same grade should it be sent in again in the future. Submit it 10 times and I would wager that it comes back the same grade as the first time. Being an older holder they probably don't have an image of the coin currently. If you go this route I think you have one shot and that's that. No sense in trying multiple times.
You could submit for reconsideration in the current holder and see what they say. Since you only recently acquired the coin it is possible that this has already been attempted though and PCGS will have a record of it. If you go the reconsideration route and it fails to upgrade then I would keep it in the older style holder with the CAC. It won't bring the $20,000 the next grade would, but will still carry a premium over a coin of the same grade in a newer holder.
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Pillar of the Community
United States
4233 Posts |
I don't have any experience with trying to upgrade, but my thought is that the market for your coin is a connoisseur of the series and varieties. As such, it seems like they'd be more inclined to judge and value the coin and not what's on the slab. How does yours compare with the $10k one sold on HA? Is the variety listed separately in the price guides?
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Pillar of the Community
United States
4469 Posts |
In my experience on coins that there is a large difference between grades to upgrade the coin must be a solid example for the higher grade. If the coin is in a OGH with a CAC sticker, there is a down side on a crack out if it comes back at the same grade. The example should be resubmitted to CAC for a new sticker as the typical coin in a OGH and CAC sticker has about a 10% to 15% premium.
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Pillar of the Community
United States
992 Posts |
I'd say you have 2 shots, as I would also try sending to NGC.
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Pillar of the Community
United States
1018 Posts |
OK....so I posted the coin on here a few days back in a different thread. This is an 1869/69 In MS65RD, CAC. My pics below are far from professional, and the holder has some scuffs. The only other CAC MS65RD I have seen sell at auction is listed here. Of note is that the descriptions says CAC, but there is no sticker in the image. https://coins.ha.com/itm/indian-cen...bnail-071515I was very surprised with how few RD coins for the date have the CAC approval. 1872 has more CAC approved coins than 1869, with less than half the mintage of the 1869. I don't know this would be an upgradeable coin or not. I'm probably going to leave it as is, as there is no intention of selling it anytime soon. I know the value CAC brings to certain collectors. Lastly, it is worth noting this is the S-4 variety, which has the same digit punch as the S-3, though it is scarcer. I have sold a number of these over the years, and in my experience, it carries the same premium as the S-3.    |
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Pillar of the Community
United States
3848 Posts |
I think it is wise to keep it as-is in the 65 CAC holder.
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Bedrock of the Community
United States
94367 Posts |
Agree, leave well enough alone.
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Pillar of the Community
United States
4337 Posts |
IMO fon't crack it and resubmit it. You're better off in the older gen holder with CAC. My guess is PCGS is not going to just put a $20,000 coin the market and will scrutinize every tiny aspect at submittal. The odds are against you.
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Replies: 16 / Views: 1,818 |
Posted 01/14/2022 5:35 pm
