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A PCGS graded coin that makes me wonder "Why?"

braddickbraddick Posts: 22,532 ✭✭✭✭✭

Not just PCGS graded (why?) yet also CAC certified (WHY?)
This thread isn't to disparage the coin, yet I can't help but wonder what went through the submitter's mind to grade and then CAC this coin. There are no varieties as far as I know, and raw, the coin is what it is. Oh, well! It'll remain a mystery, I suppose.

peacockcoins

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I agree... never understood the fascination with such low grades... However, it is a hobby, and we like what we like...even though we like different things. :D Cheers, RickO

  • PerryHallPerryHall Posts: 44,858 ✭✭✭✭✭

    Some people collect low ball coins that are problem free other than extreme wear and that are slabbed.

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

  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭

    I don't get it, either. Why would someone spend $50+ to slab something like this? Maybe it'll bring a hundred bucks if sold. That would be an even bigger mystery. I guess I just don't understand today's values and collecting trends but I'm glad I'm not a participant.

  • lkeneficlkenefic Posts: 7,485 ✭✭✭✭✭

    Maybe the submitter was trying for that coveted P-01 grade... normally, I interpret the CAC sticker as the coin is potentially worthy of the next desired (ie higher) grade. In this case, does it mean the coin has a shot at P01 or AG3?

    Inquiring minds, and all... and what about Mary?

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  • coinkatcoinkat Posts: 22,432 ✭✭✭✭✭

    Sort of a funny story... I recently found a fairly attractive 1925 quarter "in the wild" that I am contemplating submitting or just upgrading my Whitman type set. I doubt it will grade 64 or higher and it misses a FH so there is reluctance on my part because I may enjoy the coin more as part of a type set.

    While I understand the lowball concept and sort of an unusual value placed on a workhorse coin, I doubt the effort and expense pays off in this instance.

    Experience the World through Numismatics...it's more than you can imagine.

  • braddickbraddick Posts: 22,532 ✭✭✭✭✭

    See, that's my question. The LowBall collecting I get- as I also participate. For the Standing Liberty quarter, though, it truly has to be a PO1 to be "scarce" (as the date easily wears off on the early years). The FA2 coins are not really difficult to find. So, OK. The submitter sends this one to PCGS hoping for the PO1 grade (it's not, and never would be with the detail remaining, but I guess the submitter thought it was worth a chance). Now the coin comes back FA2. Instead of moving on, the submitter now doubles down and sends it to CAC. Why? All CAC will confirm the FA2 grade- not render an opinion it is 'overgraded' and worthy of the PO1 grade.
    That is the confusing part for me, at least.

    peacockcoins

  • coinbufcoinbuf Posts: 10,411 ✭✭✭✭✭

    Maybe the submitter/buyer is prepping ahead in his/her expectation of a lowball CAC registry set being created.

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  • yspsalesyspsales Posts: 2,025 ✭✭✭✭✭

    I send in coins from time to time that don't make financial sense... so who am I to complain?

    Mostly to test my skills on an unfamiliar series.

    The CAC thing for a lowball eludes me.

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  • 3stars3stars Posts: 2,270 ✭✭✭✭✭

    One coin short of meeting a quarterly special minimum?

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • cnncoinscnncoins Posts: 414 ✭✭✭✭

    Very PQ....

  • SeattleSlammerSeattleSlammer Posts: 9,940 ✭✭✭✭✭

    This is the FR02 CAC that makes me say WHY?

    Clearly looks like it should instead be a PO01. Yet CAC still beaned it as well. (double head scratcher!)

  • BuffaloIronTailBuffaloIronTail Posts: 7,341 ✭✭✭✭✭

    @yspsales said:
    I send in coins from time to time that don't make financial sense... so who am I to complain?

    Mostly to test my skills on an unfamiliar series.

    The CAC thing for a lowball eludes me.

    I agree. WHY send a coin to CAC if the idea is to try for a lowball?

    Now, if they had a CAC sticker with a downward arrow to denote the "lowest of the low", Then it would be worth going for.

    Could you imagine a coin with a PO-1 AND a lowball sticker?

    Pete

    "I tell them there's no problems.....only solutions" - John Lennon
  • braddickbraddick Posts: 22,532 ✭✭✭✭✭

    The featured Morgan really is a FA2 rather than a PO1. Just a tad too much detail with the portrait.

    peacockcoins

  • PerryHallPerryHall Posts: 44,858 ✭✭✭✭✭

    The problem with sending a low-ball coin to CAC is that they may give it a gold sticker which would hurt the value of the coin. ;)

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

  • 1630Boston1630Boston Posts: 13,665 ✭✭✭✭✭

    You can always peel the sticker off :p

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  • rheddenrhedden Posts: 6,532 ✭✭✭✭✭

    Does CAC approve lowball coins with a special brown sticker (shaped like dog poop, of course) if they fail to meet the stated grade by at least one point?

  • BryceMBryceM Posts: 11,595 ✭✭✭✭✭

    I have the majority of a 1922 Peace Dollar grading set. (Still missing many of the VF grades). Having one requires finding relatively common coins in pedestrian grades and then getting them slabbed at the grade you're hoping for. There's aren't too many other reasons to get a 1922 VF20 dollar slabbed.

  • YoloBagelsYoloBagels Posts: 151 ✭✭✭

    My guess is that it was a sentimental coin to someone (maybe a circ find that got them into collecting) and whoever it was wanted to get it slabbed/CAC.

    1925 SLQ's are incredibly common in PO01 (and much more in FR02) and it wouldn't make sense to have one graded and CAC'd unless it were for a set registry.

  • WalkerfanWalkerfan Posts: 8,671 ✭✭✭✭✭

    My guess is either a Lowball participant, or else, someone who does BULK submissions and just wanted to fill up some space.

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  • SeattleSlammerSeattleSlammer Posts: 9,940 ✭✭✭✭✭

    @braddick said:
    The featured Morgan really is a FA2 rather than a PO1. Just a tad too much detail with the portrait.

    Disagree. It actually meets the classic photo grade definition for a PO01 — date/mintmark are barely identifiable.

  • braddickbraddick Posts: 22,532 ✭✭✭✭✭

    Here are a couple of examples of true PCGS PO1 Morgans:


    Compare the portrait to the FA2 above (especially note the ear). Granted the FA2 above is close, yet not quite there as far a PCGS grades PO1s.

    peacockcoins

  • SeattleSlammerSeattleSlammer Posts: 9,940 ✭✭✭✭✭

    Still disagree. But that’s why forums are fun. 🤓

  • CatbertCatbert Posts: 6,272 ✭✭✭✭✭
    edited February 25, 2021 5:20PM

    Given that the sticker also represents that CAC will offer to buy the coin, would they make a correspondingly “lowball” offer? 🤔🙄

    "Got a flaming heart, can't get my fill"
  • I think the coin is under graded. Some sellers, notice some, in raw condition would describe this as AU on EBAY.

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