PCGS Regrade Versus Reconsideration?
ricardouno
Posts: 238 ✭✭
I have a collection of mostly Morgan Dollars and Franklin Halves that were graded by PCGS many years ago. A few are in the old green holders but most from in the years just right after that.
This was before PCGS offered the "+" designation.
The coins all were graded from MS-65 to MS67......some PL and DMPL Morgans and virtually all the Franklins are FBL.
I recently checked the online PCGS Price Guide against the grades previously assigned my coins and noted that adding a "+" would add considerable value to most. Of course, adding a full grade would be amazing.
At this time, what would be best submission category for these.....Reconsideration or Regrade? Also, if I choose Reconsideration, which of the four options would be best to check?
Thanks, in advance, for any help!!
Comments
If you care about the holders themselves, select reconsideration.
If you don't care about the holders and/or want the coins to have Trueviews then Regrade is the better option (as they are guaranteed to be placed into new slabs)
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Alternatively instead of sending your coins to PCGS send them to CAC and see what JA thinks. This route will be cheaper. There’s a small fee for coins that sticker and there’s no fee for coins that don’t.
Normal tier service at CAC has been suspended for a few months. It was just extended to July 15. I wouldn’t be surprised if it were extended even longer as we get closer to July.
- Bob -
"Central Valley" Roosevelts
MPL's - Lincolns of Color
Also, they haven't been accepting new accounts for quite some time so it can be tricky to even the eligible to submit regardless of the tier unless you know someone who has an account.
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Am I more likely to get a full point upgrade on a particular coin with a regrade submission versus a reconsideration? Or would it make no difference?
In theory it makes no difference. In practice, I think that a raw coin is more likely to upgrade because the graders aren't mentally anchored to the number on the slab. That's just pop psychology though, ymmv.
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Are the original certified grades covered during a reconsideration? If so, then one does not need to fear they would anchor the coin.
In honor of the memory of Cpl. Michael E. Thompson
@ricardouno
Not sure where to start. First I will say that the current reports that I have heard or read is that the grading at pcgs has been fairly strict recently. But when will this change if ever. So might not be that applicable but could consider.
Also not sure what your goal is and that could also influence your decision. Along with values of the submittals and costs.
My experience with a similar type submissions, that is some slightly older holders and many before plus / cac, is that the regrade resulted in about twice as many plus upgrades (per 10 coins) as did the reconsideration (per 10 coins). On one I did reconsideration for the cac so I would not have to send them back to cac if they did not upgrade and then did regrade on the non-cac, but these had not been to cac and about 70% got a cac later. Again the regrade outperformed the reconsideration on getting an upgrade / plus. Limited data points here but that is all I have.
Some believe that if you submit a group or set of coins that you can do better. I certainly don't have any long term data on that. However, again on the one larger group, in this case a set of coins, that I submitted I did the best with the set compare to past submittals. This again is just one data point, soooo....
If you send to cac first, then need to consider what is your plan after that?
Are you done? Not concerned about upgrades? Don't care about a plus with a cac.
Only send the cac to pcgs? Reconsideration or regrade and back to cac if the reconsideration upgrades or all the regrades.
Still want to send most (or all) to pcgs as non-cac coins do get upgrades / pluses. Then why send to cac first in this scenario. Or maybe there is something between these.
Anyway it kind of depends what your goal is and/or what you are wanting to do and maybe the values / costs.
As far as the reconsiderations, I select the any upgrade if I understood that question correctly.
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
Good point and I don't know. I don't think it mentions that on the service description on the website.
Chopmarked Trade Dollar Registry Set --- US Gold Showcase --- World Gold Showcase --- World Chopmark Showcase
lilolme,
Thanks so much for taking the time to answer in such detail and relate your experiences.
I just want the coins to reside in holders with the most fair and accurate grade possible. I feel that a significant number should at least have a good shot at a "+" and a few at a full grade perhaps.
I am an older person and my intent is to realize a legacy value fair and appropriate to my collection. Many of the coins were purchased 40-45 years ago.
Also consider the fact that the standards for PL and DMPL were much looser than they are now, so many in OGH may no longer qualify for the designation.
OGH with a gold sticker is a better value at auction (for the seller) than a grade higher in a new holder, just my 2 cents.
Unless you are going for 58+’s and are not worried about losing the OGH I would do regrade.
Piggy back with a dealer to CAC first but remember that basic economy rate is suspended.
If YOU or ANYONE cracks out a coin, bad things can happen.
If you have a mentor or know someone who knows more than you do who will look at your coins, check with him / her first.
As has been pointed out before, the reconsideration keeps the coin in its old holder if it doesn't upgrade.
Nice coins in older holders have become scarcer over the years. How important is that to you?
Clarkbar's comment re PL and DMPL is important re valuation of Morgans and Franklins.
If you send coins to CAC, it will take forever for this to get done, and I think their standards have changed over the last 3 to 4 years, based on my limited submissions. I've waited over four months to get some coins back from CAC.
"Seu cabra da peste,
"Sou Mangueira......."
Regrades are assessed raw. Reconsiderations are viewed through the holder.
Some believe graders are extra cautious with reconsideration because some of the coin is hidden from view. And because the holder's plastic can obscure the view (however slightly).
Each service has a grade guarantee.
If the current holder has no special value or meaning to me I always choose regrade over reconsideration.
If the current holder is important to me (CAC sticker, older holder I like, etc.), or I'm looking for a plus-only upgrade (or other specific attribute), then I choose reconsideration.
FWIW, the newest PCGS holders are the best ever, IMO. Better optics, security, easier to polish-out scratches.
Lance.
What do you use to polish out scratches?
Nothing is as expensive as free money.
I prefer Meguiar's PlastX. I've tried at least six different plastic polishes and I like this best.
Lance.
@ricardouno ... Whichever path you select, record the current status, what you chose to submit for, and then the results. That information is useful for many members who may be considering similar actions. Cheers, RickO
As @Elcontador said, it might be prudent to find someone you know and trust who can "screen" the coins for you before submitting them to eliminate any which won't upgrade under any circumstances.
Hate to see the hobby legacy diminished when old holders are lost. Hope you look at reconsideration or can sell to dealers (or consign to auction houses) who will pay a premium for under graded coins.
Old holders are a two edged sword. While some coins in old holders may be undergraded by today's standards, others are ugly technically graded coins, or a few RB old coppers have 5-10% RD, which by today's standards, would be considered to be BN.
"Seu cabra da peste,
"Sou Mangueira......."
Agree - I was assuming, since he said he'd had them for 40 years, that many might be under graded and not bought subsequently where old holders could have been picked over already.
I do understand the point about older holders and I have several that I have not sent in for upgrades that I think would upgrade because I like them better as they are. However, if looking to sell or similar, then the value of some of the plus upgrades can be significant. The OP mentioned Morgans and many of those can have value increases of hundreds of $ and even thousands or five figure value increases just for a plus upgrade. I am focusing on the plus because the OP mentioned that many were purchased pre-plus grading. So when I started thinking about selling it was an easy decision to send in for the upgrades. As I noted previously the regrade did noticeably better than the reconsideration. Yes it is true if the coins do not warrant an upgrade and you don't get any then ouch. Now if talking about a common date in 65, then the plus does not add much and the older holder may be a better option. So values may be a consideration. Ah decisions decisions.
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
@Catbert said: Hate to see the hobby legacy diminished when old holders are lost. Hope you look at reconsideration or can sell to dealers (or consign to auction houses) who will pay a premium for under graded coins.
This can be interpreted two ways:
Hate to lose the nostalgia of how grading services began.
Hate to lose the reminder of how grading and TPG's have changed with the passage of time.