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Grading Mysteries: "Why the heck was that one graded?!"
abcde12345
Posts: 3,404 ✭✭✭✭✭
Ok, so every now and then I will stumble upon a coin that has been PCGS graded and I've got to ask myself, "why?". Now, I am aware, for example, most ultra low-grade 1916 Mercury dimes are probably graded because the owner thought they might have a 1916-D, I suppose. Other coins? Not really sure.
Here is an example I came upon. Do you think the owner thought it was a 1921-D when they sent it in?
Do you see (or own) examples of such coins? Problem-free, just nowhere near worth the cost and hassle of sending them into PCGS for grading.
(I also wonder what the graders think when they see these kinds of coins contained within a submission!)
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A lowball coin? A pocket piece from Pop?
Yes, I wonder too why some of these get graded.
bob
offer the OP coin to Braddick, he collects that sort of stuff.
I think some get graded to round out a bulk submission.
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There is a niche subset of slabbed coin collectors who pursue the low end stuff. But they are usually looking for gradable coins that are worse and rather earlier.
Slabs are great when the economic value of the coin is in line with the cost of the service. But almost everyday, my mind boggles at what some people consider for/ think about submitting to the TPGs.
Possibly this is what the submitter was after?
(Both Walkers shown are not my coins.)
@abcde12345 Perhaps, but many Walkers dated 1921 might get submitted for authenticity reasons. However, the one you show here was probably an economic mistake to submit.
Authentication. .. I can see this for key dates for low end pieces. Especially for dates MM that are heavily counterfeited.
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looking for P01 for some damn fool...I mean... big important registry set?
+1
It was likely supposed to be a 1921-D.
The only other option is someone wanted a grading set of walkers or a low-ball coin.
My first thought was sentimental value but, one would then have to wonder why the coin ended up on the market.
Smitten with DBLCs.
Like bullion?
sentimental would do it for me but that does not mean im going to run out and do it, just saying
My initial guess is a lowball collector. There are 3 FR02 Walkers for the entire 40's and no PO01s. I think that's the one I saw on eBay yesterday. Perhaps they submitted another one that they thought was a FR02 and it didn't make it. So now they have an old duplicate that they are unloading. Just a theory.
Lots of slabbed bullion coins are part of very large submissions that get graded at special rates. The submitters hope that the number of 70s that they get makes the entire exercise, as a whole, worthwhile. The submitters know that most coins that recieve 69s or lower will have to be blown out at some loss, but they hope that the premiums recved for 70s will make the whole effort worthwhile. I've not been personally been involved in such a project, although sometimes I buy some of the 'detritus'.
This is one of my favorites. Sent to PCGS and CAC. Sold on eBay in February for $25. Sold on Stacks in May for $30, then sold again on eBay this month for $23. 🤷🏻♂️ I’ll bet it could’ve sold on eBay for as much if it were raw...
@Wahoo554 One presumes the CAC sticker wasn't free either!
Yes, there are collectors who want the poorest known coins that have been graded for their low ball registry set. It’s not my thing for sure.
Not for me, but some collectors seek these out.... and once authenticated, they seem to sell. Cheers, RickO
More abnormalities:
Authentication, grading set, sentimental, or thought a different year.
I've slabbed a few coins that I have no intention of selling entirely because of sentimental value. Usually through ANACS since they are local, but a couple have been sent to PCGS as part of a larger order.
Gonna get me a $50 Octagonal someday. Some. Day.
@abcde12345 My eyes did not focus correctly - a 1921-D with readable date and mint is probably worth submitting even in that condition. My eyes read the label many times before I realized that it was not an "S" mintmarked coin.
I have a visit to the eyeglasses doctor next month.
Aren't these known as "junk silver"? I know it's still silver, but seems silly to grade.
CAC seems completely unnecessary to me, but a 1922 PCGS PO01 sold on eBay for $150 a couple months ago. The PCGS price guide lists both of those as $60 coins. So while they are abnormalities in some respects, unlike the Walker, they do have enough value that grading can be worthwhile.
My collection was stolen 2 years ago -- some of it got recovered, and the rest I have been mostly replaced.
Some of the coins I miss the most were not at all the ones I thought I would! Among these was an almost smooth 1834 $5 gold I bought raw on Ebay for melt some years ago. The Eagle looked like a ghost. It graded F2 here at PCGS. I really miss that coin -- it had a spirit -- and I have yet to find one that compares. In contrast, UNC gold is available all day long.
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I always wondered why this coin was submitted. Not a cameo or a variety.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
@Cameonut probably one of the early "pocket change" artists that we see so often here nowadays - or perhaps an early coin show "sample" coin giveaway.
Dansco should market paper sacks for lowball "sets."
Embossed vinyl.
Does anyone try to collect every grade of a specific year/MM? May a failed FR02
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Roosevelt Registry
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I came across a graded au55 1936 buffalo nickel today. Ive often considered making a “why is this graded” collection, and then I slap myself.
Imagine what the graders think if we don't get it.
I have a 1964 dime that came out of a roll that is blazing white and as perfect as I can tell. Common date, but I really thought it had a shot at 67 or 68.
It graded Proof-64 across the street.
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The sad thing is when you get a coin graded without a TrueView!
Love the lowballs!