Thoughts on old holders and Reconsideration Grading for AU58+?
Southcounty
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PCGS has a quarterly submission special for Reconsideration Grading until September 30. I have 40 or 50 PCGS AU58 seated liberty coins in various registry sets that I have owned for quite some time, most from before CAC and the reconsideration service. None of them have been sent to CAC or sent in for any reconsideration since I have owned them. A few are OGH and many are the older solid gasket, no prong holders. Given that there is likely enough financial gain to potentially consider going for some plus grades in the AU58+ sphere this is something I am considering. I actually prefer the solid gasket look to the prongs and there always seems to be some benefit to coin stability and older holder nostalgia value, even for non-OGH coins.
My initial thought are for all AU58 coins:
Don't send in OGH coins and consider sending them to CAC at some point in the future and forgo the potential plus grade.
Send older solid gasket AU 58 coins for plus only grade consideration and potentially lose the solid gasket and series holders.
Send all prong holder coins that look promising.
Best to go reconsideration and then potentially CAC or any benefit to the opposite order? I have heard some say that coins might be more likely to get a plus if it already has a CAC sticker on it. Seems like a lot of extra trips, but AU58+ CAC coins bring ridiculous premiums and the extra work might be worth it.
What are some other general thoughts and considerations?
Comments
If you're searching for AU58+ coins and/or greater end-user value then I would keep the OGH coins in their holders and submit everything else for Reconsideration.
In honor of the memory of Cpl. Michael E. Thompson
I think mostly AU58+ Blue Label coins are better than AU58 OGH coins.
I wouldn't be surprised, though, if I were proven wrong. This is just my hunch.
peacockcoins
@Southcounty - i’ve seen the quality of coins that you add to your registry. In my eyes there is no reason why you should not send your coins to CAC. All of them regardless of grade. There is to much upside to not send. As far as the AU58 question goes. I would send everything that you own to CAC first. The old green holders and the older light blue holders would stay as is. Regardless of if they CAC or not. The other generations of holders that you think have a shot at a plus would be worth sending for reconsideration (CAC or not). If you get the upgrade it’s only a $3 resticker fee to get it back on. Not much downside. The only thing that would put me off is the current turnaround times to get the grading done. I don’t know I’d fell comfortable waiting for 4 or 5 months.
Wow, what a nice collection. Crusty has it nailed. I strongly encourage you to submit to CAC as a first step and then consider your position regarding the holder. Turn around time will be reasonable. Coins that fail are at no cost other than shipping.
The plus is nice, but you must evaluate what your goal is to secure them at this time vs the effort. Is it in preparation for selling? Registry points? If these aren't important NOW, you might think about waiting until the time is right. In the meantime, getting CAC review has all upside.
"Got a flaming heart, can't get my fill"
I had always considered trying for the resubmission upgrade before I would consider selling, which isn't anytime soon for most of them, but I was a little bit moved by the PCGS special that would save a little money if I were to do a large number of coins. I agree with @Crusty the turn around times and what seems like a little less reliable postal service delivery gives me pause. CAC submission has also been on my mind and I have held off mostly for reasons around time and convenience as well as the postal service issues. In my mind I am always thinking I will continue to upgrade as well and I didn't see the need to max things out until I was generally done.
Seems like going to CAC first then to reconsideration is the order being suggested, with another trip back to CAC if any coins get the plus bump. That third trip seems like a lot of time and registered mail fees, but it is likely worth it from a value perspective.
Seated Dollar Collection
To answer your questions, I would definitely submit to CAC first. While there’s absolutely no evidence, it’s possible when the graders at PCGS have your Resubmission coins in front of them, despite the fact they may look at the coin for only 30 seconds or so (my guess), I believe before it leaves their desk they will notice the CAC sticker and the old holder and/or cert number. This could possibly create a subconscious bias to work in your favor. I’d be surprised if your success rate at getting pluses would be less than 25%!
Having that third round trip shipping of the upgraded coins back to CAC is no big deal. By the way, the restickering fee is $5, not $3.
Separately, it’s possible you may not receive the coins back from CAC in time to submit them to PCGS in time before the end of September unless you act immediately.
Let us know your end result on CAC and “+” grade success!
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
@winesteven - your absolutely right about the re-stickering costing $5 and not $3. It’s been a while since I used the service.
@Southcounty - It took me a while to get "comfortable” sending packages with irreplaceable coins. Here are a couple options Id consider if I were u. Option #1 depending on the size and value of your collection it may be worth a road trip or flight to visit and do a walk through. This can be set up by calling CAC and requesting an appointment to bring the coins to the office in person. You drop them off and go have lunch or read a book in the car while they do their thing. Option #2 would be to send several registered packages (fully insured). It’s unlikely your package will get lost but breaking them up into smaller packages will limit the amount of coins that would get lost if your struck by lighting and a package comes up missing.
I will also advise you not to procrastinate on getting your coins to CAC because there are rumors flying around and imho it’s best to get them seen before the rumored major changes take place end of the year. If you don’t send them your leaving tons of money on the table. Seated coinage commands major premiums with CAC and will make them an easier sell down the road whenever you want to sell.
Option #1 depending on the size and value of your collection it may be worth a road trip or flight to visit and do a walk through. This can be set up by calling CAC and requesting an appointment to bring the coins to the office in person. You drop them off and go have lunch or read a book in the car while they do their thing.
CAC has been really busy this year.
The latest from CAC is that their walk through service is limited to 20 coins. And there is a slight up charge for that service.
Thanks for the updated information. I guess that leaves option #2!
what if you get some 62's or 63's?
You may be correct, but if he checks the box on the submission form for “only +”, maybe they’ll recognize he only wants coins upgraded from AU58 to 58+?
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
@Crusty said:
I will also advise you not to procrastinate on getting your coins to CAC because there are rumors flying around and imho it’s best to get them seen before the rumored major changes take place end of the year. If you don’t send them your leaving tons of money on the table. Seated coinage commands major premiums with CAC and will make them an easier sell down the road whenever you want to sell.
Are you able/willing to expound concerning the rumored changes?
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Everything I have heard has been 3rd and 4th hand. I don’t want to spread something that I am not 100% sure of. But I feel my advise of getting the stickers put on asap is good advise regardless of what happens later this year.
@Southcounty... I am not an 'old holder' collector/seller or expert. But from what I have read here, they can bring significant premiums. So check that out thoroughly. Cheers, RickO