Treasure from Junk (Slabs) Submission: The Cherrypicking Crackout Caper with a Top Pop...

RGL · May 16, 2003 11:20AM

If I have earned no other reputation on this forum, it is for a desire to stretch my numismatic dollars by venturing where many dare not go, into the realm of raw coins and questionable slabs. But, rejoice. Three very nice coins have been liberated from the prisons in which they were placed by the purveyors of putrid plastic (whew) and now are bathed in the light and goodness of PCGS blue ...

Submission 9007532 was posted today (received April 23), a regular submission of freebies for completed sets:

1961 PR-69 CAM Jefferson: Formerly ACG PR-69 DCAM and a $7 eBay snipe. A 14/0 coin. Hands down, the best Jeff in my set in terms of mirrors and luster. A stunner. A no-doubt DCAM reverse and an oh-so-close CAM-plus obverse. I was greedy. Guessed PR-69 DCAM. This coin boosted my early Jeff proofs into a tie for fifth current finest. At last!

1962 PR-68 DCAM Jefferson: Formerly PCI PR-69 Ultra Cameo. No snipe needed, $9. A 96/37 coin. Matched my expectations. One of the whitest DCAMs I have seen on an earlier Jeff proof.

1965 MS-66 CAM SMS Jefferson: Formerly NTC MS-67 CAM. The now-infamous mistake coin. Accidentally bid, and won, for $78. A 68/19 coin. At least it is worth what I bid. Pegged as MS-66 CAM, but PQ as such as very close to DCAM. Only a spot of brightness on far right of Monticello keeps it from such lofty status.

The moral of the story: There is treasure to be sifted from among the junk for those who care to search ... (i.e., buy the coin, not the slab.)

The submission contained only four other coins, of no particular note and a couple of outright mistakes, with the exception of a pretty, raw 1959 PR-68 Roosevelt, a surprisingly elusive and undervalued coin at 39/1. Currently stands as the lowest pop Roosie in brilliant 68 from 1954 to 1964.

lordmarcovan · May 16, 2003 11:21AM

<< <i>The moral of the story: There is treasure to be sifted from among the junk for those who care to search ... >>

...and those who are vigilant for hidden problems.

Still, it can be done, as you have proven. Bravo. I'm sure your Jeffs are breathing a sigh of relief.

jonesy · May 16, 2003 11:23AM

Congrats RGL!!

Glenn

Coinosaurus · May 16, 2003 11:51AM

Pretty amazing......even if ACG had called it a 70 they would still be only one point off

Who is gonna be the first service to use the "71" grade???? Never say never. I went to the ANA grading class a few years back and one of the major players at the grading services there flatly stated, "we will never grade a coin a 70".

Russ · May 16, 2003 11:56AM

<< <i>If I have earned no other reputation on this forum, it is for a desire to stretch my numismatic dollars >>

You are, indeed, a renowned tightwad.

Once again, some excellent cherrypicking!

Russ, NCNE

Dog97 · May 16, 2003 12:03PM

That's great! The way you talk about them I can tell you're really into your Jeffersons.

braddick · May 16, 2003 12:26PM

Excellent! Your Thread goes to show that knowledge is power. Know your Series and what to look for and true GEMS await you.
Great successes.

Cam40 · May 16, 2003 12:33PM

It can be done.
Good eye.

BNE · May 17, 2003 12:21AM

Congratulations, Randy, on your entry into the "top five!" The way you have done this through patience, and careful selection, also provides a "moral" for those who think that the only way to get to the top is by paying stupid money.

I agree that nice coins can, and do, make it into the "wrong" holders. I often hear people say that they would never buy a coin in a "______ slab." If they are truly boycotting the product on principle, that's one thing. But to assume the coin in the holder is crap may be foolish.

Congrats, again!!! I was there "when!"

RGL · May 17, 2003 1:02AM

Thanks, Barry and everyone, for your comments. I agree with Barry's observations that if you search for good buys, make some good decisions and know some good people, you can compile a top five set without mega bucks. I do not mind saying that in my No. 5 early Jefferson proof set, the most expensive coin was $330.

littlewicher · May 17, 2003 1:04AM

Did you crack them out of the slab before submitting them?

RGL · May 17, 2003 1:08AM

Yes, that was a no brainer ... all were cracked.

littlewicher · May 17, 2003 1:14AM

I recently scored this coin off Ebay. link

I know usually the cameo is overdramatized on his pictures, but it wasn't on this coin! When I got it, I was amazed to see that it was DCAM and would probably get DCAM at PCGS.

ksteelheader · May 17, 2003 1:24AM

Of course it can be done. Congrats on your coins. See this link about my find...KenLink

RGL · May 17, 2003 2:07AM

Love that SMS Jeff, wicher ... jwcameo -- Jeff Werlin -- is a good seller. Congrats.

Nice score on your Franklin as well, ks ... there are good coins to be found in lower tier holders at bargain prices if you are judicious.

MacCoin · May 17, 2003 2:21AM

thats the way to go RGL congrads.

Coinosaurus I've seen many more MS70 Jeffs in ICG than in ACG.

DCAMFranklin · May 17, 2003 5:55AM

RGL- How often have I read on this Forum, "if that coin would make that grade, why would the owner have submitted it to ACG/NTC?"

Yet, your results are further proof that there are many coins out there in 3rd tier holders that are accurately graded, or barely miss the mark. The cynics and close-minded Members that summarily dismiss other services' holders are doing newer members of the hobby a great disservice by not allowing for the "diamonds in the rough" out there. It is WELL worth one's time to assess a coin's true value before degrading the holder!

If I recall correctly, had Pepperdoodles not inserted his last second snipe, you would have had that '65 SMS Cameo for like $15. Add in a grading fee and you would have had that coin for less than 1/3 of it's value. A nice bargain.

Glad you shared the results with the Forum!

DCAMFranklin · May 18, 2003 5:28AM

ttt

merz2 · May 18, 2003 6:38AM

RGL
I agree wholeheartily.The 1950 Proof Lincoln that I sent to PCGS came back PR65 DCAM.I bought it of Ebay for $75.It can be done.With some of the scans/pics it is very hard to tell sometimes.Sometimes it is just a feeling.I have been lucky.Sometimes not so lucky.It only takes one of these to make you feel real good.

Treasure from Junk (Slabs) Submission: The Cherrypicking Crackout Caper with a Top Pop...

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