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Trying to make sense of this... Why Oh Why?
Broadstruck
Posts: 30,497 ✭✭✭✭✭
While glancing at completed sales I noticed a coin I sold at a show a few years ago.
Formally in a MS66 PCGS OGH now in a ICG MS67 holder.
Coin was sold via no reserve auction and took about a 76% haircut before all associated fees.
Yes you read that right!
Is there a logical explanation for this?
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
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Actually 75.75% thanks to my trusted Casio solar powered calculator.
However then add another 10% for all the fees and free shipping.
The term “defies logic” comes to mind.
Since there is no logic then it must be a tax write-off.
Without seeing the coin, ICG holders are typically discounted a point or for condition rarities, even more. Plenty of coins have slid 50% in value in the last few years which compounds the dilemma. Please PM the type and date of coin if you don't want to post the information.
I had this happen too. PCGS MS 65 Morgan went MS 66 at ICG and sold for less in the ICG holder. At the same time another MS 65 PCGS Morgan went MS 67 at ICG and sold for 3x. Both were Centsles. Maybe the winners (like the 67) cover the losses?
I had a conversation with a dealer a couple years ago who’s model was to cross PCGS coins to NGC hoping for upgrades because he said NGC 65 worth more than PCGS 64 etc. Guess it doesn’t work with ICG.
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