Restoration question
Camerajk
Posts: 30 ✭
I just got back my 1928 peace dollar that was graded AU58 there was a sticker that said restoration recommended.... so how much grade upgrade would I get if i did get it restored??
1
Comments
No upgrade. Restoration doesn't remove wear.
Was it a details grade? What restoration was recommended.
There are some missing details here.
Expect it to come back screaming blast white.
Great transactions with oih82w8, JasonGaming, Moose1913.
It was graded AU58
It couldn’t be a details grade if it graded 58 (as opposed to AU details).
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
True.
I assume it's just color then that would be improved.
It appears to have an odd toning pattern that gives it negative eye-appeal (though the photo is terrible). The question you need to answer is will "restoration" add enough to the value of the coin to justify the full cost of the "restoration". The full cost includes both the cost of the "restoration" itself plus any other fees and charges for postage and insurance to and from PCGS.
The coin itself will still be and AU58 after "restoration" but will hopefully have more eye-appeal.
It’s a crappy pic
And I can’t imagine the answer to that question being “yes”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Could be PVC on the coin.... since nothing was specified....Might be a good idea to get more details...or just have it done. Would think that such a recommendation is not made lightly. Cheers, RickO
@ricko they wouldn’t slab it if there was PVC that they noticed. My guess is they thought they could improve the appearance. But I still wonder why they would put the sticker on unless they thought the improvement would be well worth the expense.
Very interesting, I'm sure someone has already experienced this. Peace Roy
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I don’t know how long PCGS has been doing that, but NGC has for many years. It can serve as an extra revenue source for the grading companies and in some cases, improve the appearance of certain coins.
Often, it will be difficult to know in advance what the end result will look like. And as already discussed, a major consideration is whether the fees are worth it for the submitter.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If they see wear, 58 is as good as it gets. You can only go down from there.
Would be nice if they suggested that before sending it back. I realize that would be inefficient for their process though. I can't see an extra $100 investment in that coin being a good idea.
Collector, occasional seller
The fields just around the rim do appear brighter in the photo, at least from 10:00 to 4:00. But agree the expense dopes not appear to warrant as that would not upgrade to an uncirculated grade.
sorry i was a little tired and was watching football ... ... So if a restoration is just for eye appeal only then why do it? it would increase that value of the coin then i would see doing it ... however it would only cost 30 dollars to restore it ...
In the case of coins that are uncirculated or Proof, it’s possible that the grade could go up. In theory, that shouldn’t apply to coins grading less than 60. Besides that, some coins of considerable value might warrant conservation far more than your coin.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Better eye appeal does increase a coin's value. Or at least, its liquidity.
It will cost more than $30, it will also take a long time. I think it would only be worth it if it "upgrades" to 58+. I don't see that coin doing it though.
https://www.pcgs.com/auctionprices/item/1928-1/7373/2391207199718476845
Collector, occasional seller
The PCGS Price Guide shows a spread of just $10 between a 58 and a 58+ and only $75 between a 58 and a 61. So with restoration and postage fees, even an incredibly unlikely upgrade to a 61 likely wouldn’t pay for itself.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
From what I can see in the images, the only thing PCGS will likely do is dip the coin to make it uniformly lighter. This will not raise the coin into the MS grade range, since there is obvious wear, but it may or may not increase the eye appeal for some folks. Regardless, I doubt it would be worth your time and/or money so ship the coin back to PCGS to have the work done.
In honor of the memory of Cpl. Michael E. Thompson
The price guide may show a $10 spread, but the Heritage auction in the link shows a $900 sale for a 58+(the only sale on record of one). Either way I don't think it matters because the coin in question does not appear to be 58+ quality. A 61 would be a worse outcome than a 58 IMO(once it comes time to sell), you lose the everyman set collectors and those looking for MS examples are going to mainly be searching for 63 or higher.
Collector, occasional seller
Maybe PCGS put the sticker on this one accidentally? Or just to advertise?
Looking at your second photo I no longer see the odd toning I thought was present based on the first photo. If you don't like the coin then sell it as is as a 58 and move on. A 58 is all it will ever be. Forget about spending money on "restoration". 1928 Peace Dollars are not rare or even scarce. I consider them to be an excellent example of an overrated coin.
Good point about the sale of the 58+.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
You would think......
Great transactions with oih82w8, JasonGaming, Moose1913.
@ChrisH821 , @ms70
I agree they should have called before they sent it back to me .... but it was it is..... btw all those ppl who said it was not worth getting any of my coins graded and saying that they looked cleaned only one had came back AU cleaned ..... i think this kinda proved them wrong....
I don’t know what the coins were. But it can be difficult to make assessments from pictures and many coins aren’t worth the cost of grading and postage, even if they straight grade.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I think any 1928 Peace Dollar is worth getting graded, well maybe unless it's damaged or something.
Collector, occasional seller
I believe you have may have overstepped what folks wrote in that thread.
Lots of folks wrote that some of the coins appeared cleaned and one did come back cleaned, but you didn't send them all in. Also, when folks write "it's not worth" sending a coin in for certification, what they often mean (on this site) is that the difference in value or liquidity after certification is not always worth the time, effort and money (resources) put into the coins in order to get them certified.
You would have had much better input if you had started a few threads, each with only two or three coins, and asked for input on those coins specifically. As it was, your thread had just too many coins (perhaps two dozen?) with oddly cropped images for most folks to go through piece-by-piece, which is why you received more vague responses. I don't fault you in any way for posting the thread in the manner that you did; after all, you are new to the forum.
In honor of the memory of Cpl. Michael E. Thompson
Not really that rare a coin in the $200-$250 value range. This is why it is important to have some type of safe and careful conservation method before you send coins in with the costs and wait times. "Restoration" which will set you back $30 or so plus shipping plus regrade is too expensive unless you love the coin. Once upon a time I heard that graders had access to dip "for PCGS use only" at some shows. Morgan and Peace dollars are so numerous and relatively easy to assess.
@logger7
1928 peace is a key date ..... the value is worth 350 according to pcgs ....
@TomB
even though one coin came back clean I’m pretty happy with the results...... the average coin came back over 300 dollars ... even the clean coin AU details auctioned off pretty well over 200 .... to spend 350 and not to have any doubts and 8 coins worth a little over 3k I’m happy....
I know of a few that sold for between $276 and $312 during the past few months. Don’t rely too heavily on price guides, alone.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Remove the sticker and toss it in the trash. Sell the coin and buy another if you are not happy with it.
That's what I would do.
bob
My 1921 Peace dollar went from a 62 (top) to a 63 (bottom) after conservation. The big thing was it's appearance, which is much improved.
@koynekwest thanks !!! That is great to know !!
I think only one person said that a lot of them looked cleaned. In general, I think the advice you got there was sound. You posted the following results - which was not all of the coins originally posted:
1859 G$1 AU55 USA
1908 $2.50 XF45 USA
1884-S $5 AU58 USA
1904 1854 1C, BN MS64BN USA
1878 50C PR62 USA
1878-CC $1 MS62 USA
1917 25C Type 1 Genuine AU Details (92 - Cleaned) USA
1928 $1 AU58 USA
The 1928 is a judgment call. I don't think it added enough value getting it graded so not worth the cost. As an AU55 it's a $250-300 coin and it's maybe $50 more than that. Others might disagree. That coin didn't have a chance to UNC and would have been easy to sell as a raw AU.
The 1917 25c was not worth grading nor was the 1878-CC in MS62 if you consider the value proposition. Some people just like them in slabs, but then it is a $35 holder and value is irrelevant. They did not gain any value from the slab as you could have sold them raw for the same price you'll get in the holder.
Frankly the 1884-S $5 and the 1908 $2.50 really gained nothing from being slabbed other than the $30 protective holder. They are common date circ gold and have no real price difference until you get into the UNC grades.
The 1859 G$1 may benefit from authentication as there are fakes, but other than that it's something of a wash as an AU55 will sell for $325 and an XF is $300. So there isn't really any cost benefit.
The 1878 Proof half was definitely worth grading as was the 1904 1 cent in 64.
Not everything that straight grades is worth getting graded. You've got $250 in slab fees & postage there, more or less, and only two or three coins that really benefit from the trip.
As I read it, that's what most people were trying to say on the other thread.
Of course, as always, it is your money and you may spend it as you wish.
I was quite pleased with the results. This is the second restoration for me. The other is this bronze Pan-American medal by MacNeil. It was in an NGC oversize slab and had some green verdigris on it. It looks MUCH better now and needless to say I am very happy with the results. As has been mentioned-just be prepared to a lengthy wait.
@jmlanzaf now I have no doubt what the coin values are .... or close to the values ... but it only cost me 250 for membership plus the shipping and insurance ... so it only cost about 400 and if the value is over 3k then that is a good return
It’s good that you’re pleased. Part of the equation is the approximate value of the coins, once graded. Another part is the approximate value of the coins, prior to grading. I think jmlanzaf was telling you that the difference might not have been as large as you think.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Yes, this. Spending even $10 to add $0 in value isn't a good return on investment.
But, again, there are other reasons why people submit. Sometimes just to get a better sense of the actual grade when you are new and can't trust your eyes. It's a form of "tuition".
As @MFeld said, as long as you are happy, that is all that matters. I was just trying to explain why people answered the way they did. No one was saying your coins had no value.
@jmlanzaf
There were a few of reasons to getting the coins graded.
1) I didn’t really trust my grandfather’s evaluation of the coins (he sold coins in the 80s and was from Long Island Ny and he also bought coins from First Coinvestors)
2) It is part of an estate
3) I just don’t trust ppl too much ..... if I did then I would have went by my grandfather’s grades and prices
all valid reasons.
You also have to recognize the reasons behind the evaluations you got here. That's all I was saying. Some people trust their eyes here more than those of PCGS.