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Reconsideration question?

jdimmickjdimmick Posts: 9,542 ✭✭✭✭✭

Scenario: Have a coin (early copper) that currently resides in PCGS 55 OGH with a CAC Gold sticker. Now everybody knows that CAC gold coins usually kick but in auction. However, my question is that normally most auction companies Incl with whom I am working now , bring coins or have them available at the larger shows for viewers (potential bidders) to see. Currently, with Covid, this is not really happening at the moment. This coin is exceptional, slam dunk solid 62, not only was this given the opinion years ago by David Hall at Pcgs, but also John Albanese of CAC when he stickered it. So my question, do you risk putting it in auction now with limited viewing except for on line and/or catalog photos, or wait till things normalize where potential bidders can see this coin in hand, this coin has to been seen to appreciate the quality, and upgrade potential. There is significant value difference from 55 to 62. While owning it, I preferred it in the OGH gold holder, but selling it , maybe different? or leave it in the current holder and hope for the best. It is currently, the only CAC gold of this date period in any grade.

Which comes back around to original question, PCGS submission will not let you specify a reconsideration for a min grade several grades higher, is this correct? , as my understanding its only by full point ,+, or designation etc. ?

Any thoughts much appreciated!


  • SmudgeSmudge Posts: 9,053 ✭✭✭✭✭

    Tough choice, but I probably would leave it alone.

  • scubafuelscubafuel Posts: 1,643 ✭✭✭✭✭

    If you were buying it, would you be more excited to see it in new-holder 62 or the current dress for the same money?
    If you’re sure it would sticker at 62 then it might make sense. But it’s close.

  • BryceMBryceM Posts: 11,589 ✭✭✭✭✭

    Interesting, but I tend to keep copper in old holders, even if it's 100% brown. It's just so darn reactive that there's quite a bit of comfort knowing it's been there for a while. The OGH gold bean combo is pretty hard to beat. Not having lot viewing is causing certain problems, but bids seem to be holding up pretty well anyhow. Is selling post-COVID not an option?

    As for the rules for reconsideration, I'd just call and ask them.

  • cccoinscccoins Posts: 279 ✭✭✭✭

    It might be the type of coin that you place a reserve on to offset the lack of in person viewing.

  • MFeldMFeld Posts: 11,069 ✭✭✭✭✭

    If I had a coin in a 55 holder with a gold CAC sticker, truly thought it was a “slam dunk solid 62” and there was a significant value difference from 55 to 62, I’d crack it out and (re)submit it.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • SIowhandSIowhand Posts: 317 ✭✭✭✭✭
    edited October 20, 2020 9:05PM

    Some people go bananas for gold stickers.

  • OldIndianNutKaseOldIndianNutKase Posts: 2,684 ✭✭✭✭✭

    I like the idea of submitting it for auction........but with a reasonable reserve.


  • PerryHallPerryHall Posts: 44,829 ✭✭✭✭✭

    Can we see a few good pics of this coin?

    Worry is the interest you pay on a debt you may not owe.

  • jonrunsjonruns Posts: 1,192 ✭✭✭✭✭

    Using poor photos, auction bidders seem to have no problem hitting new records for date/grade right now, especially for coins priced under $10K.

    I would say that the Gold CAC adds credibility to poor photos. As a bidder I would probably go higher on an AU55 gold sticker than an MS62 with no sticker...

  • earlyAurumearlyAurum Posts: 718 ✭✭✭✭✭

    Are you sure it is not an MS63? That is what some potential bidders might think. The sky is the limit when a gold stickered coin is out there especially when it is starting out as AU55 or AU58.
    I am facing the exact same issue with a gold coin in AU55 with a gold sticker. I am leaving as is.

  • BoosibriBoosibri Posts: 11,707 ✭✭✭✭✭

    @earlyAurum said:
    Are you sure it is not an MS63? That is what some potential bidders might think. The sky is the limit when a gold stickered coin is out there especially when it is starting out as AU55 or AU58.
    I am facing the exact same issue with a gold coin in AU55 with a gold sticker. I am leaving as is.

    On gold, I always worry about 30 year old net grading for a rim filing which cannot be seen in the old holder. When looking at some gold coins in OGH's, sometimes a more conservative standard cannot fully explain why the coin was so conservatively graded.

  • TennesseeDaveTennesseeDave Posts: 4,671 ✭✭✭✭✭

    I would wonder why it originally graded AU-55 if it's truly 62. Like Boosibri said they might have net graded it for some reason that is not obvious.

    Trade $'s
  • jdimmickjdimmick Posts: 9,542 ✭✭✭✭✭
    edited October 21, 2020 7:38AM

    Brian & TD,
    I dont think so in this case as overall coins is so choice, but very possible something not seen like on edge as you mentioned. One time a friend of mine bought a charlotte gold, cant remember the date in ogh holder that appeared way undergraded (this was long before cac) .
    When he cracked it out, became apparent rim filed. also , I once bought a 53 seated half arrows and rays that was in a xf45 holder, clearly close to UNC, only to crack and find rim filed.

    And too answer a question above: I would prefer to buy it in the 55 gold cac holder and leave it that way vs the 62 holder. Actually, I paid 62 money for the coin years ago.

  • CatbertCatbert Posts: 6,257 ✭✭✭✭✭

    Leave it be. I think it will attract more bidders this way.

    "Got a flaming heart, can't get my fill"
  • skier07skier07 Posts: 3,529 ✭✭✭✭✭

    I would leave it alone. The OGH/gold sticker combo should do very well in an auction and buyers will find comfort that the coin is stable in the OGH. There still are quite a few people who are lot viewing. I can’t speak for HA but Stacks is pretty busy with lot viewing before a big auction.

    If I was going to have the coin regraded I wouldn’t crack it out. I think it’s too risky a strategy. I cracked a CC $20 in a 40 holder. I thought it was a slam dunk AU. I was right about the AU part but it’s in a details holder.

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    I'd leave it as it. I'd definitely hang on until Covid goes away, and auction venues are back where lots of folks will be able to look at it in hand, and fantasize what the crack-out prospects may be. I think that's where and when your best chances for strong bidding will exist.

  • jdimmickjdimmick Posts: 9,542 ✭✭✭✭✭

    Thanks folks

    I think Ill leave it in the holder it is, and hold out on selling it until things normalize, maybe first of next year. Even though I am liquidating most, I am not in a position where I have to sell.

  • BoosibriBoosibri Posts: 11,707 ✭✭✭✭✭
  • NicNic Posts: 3,313 ✭✭✭✭✭
  • MFeldMFeld Posts: 11,069 ✭✭✭✭✭

    I’d love to see statistics on what percentage of CAC gold sticker AU55 coins have brought more than MS62 money. Other than in the case of narrow spreads between those two grades, my bet is that the percentage is quite low.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • ElcontadorElcontador Posts: 7,372 ✭✭✭✭✭

    Agree with your decision to leave as is. I personally would not buy any pre 1815 copper that is NOT in an OGH, based on a negative experience with a gem half cent developing PVC spots in holder after I owned it for eight years.

    My only question is a basic one. A coin is either an Unc., or it isn't. I am guessing this a "market acceptable" issue re the coin's grade.

    "Vou invadir o Nordeste,
    "Seu cabra da peste,
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  • BochimanBochiman Posts: 25,253 ✭✭✭✭✭

    I would do as you stated, and leave it in current holder.
    I would also wonder....can you put a higher reserve on it when you auction it? I haven't put coins into auction houses, so I just go by what I read here....

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • cccoinscccoins Posts: 279 ✭✭✭✭

    One other thought. If the jump in price between 55 and 62 is big, this might be a better piece to consign to a specialty dealer instead of auctioning it. This might maximize your price with the least risk.

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