What are your experiences with older holders in GC auctions

Walkerlover

I see many OGH rattlers and generation 2 OGH holders offered regularly in Great Collections Auctions non CAC. Do you find generally that these coins submitted by collectors and dealers are picked over. Can you find real upgrades or are they a rare exception. What have you learned by buying these coins. Overgraded problem coins, correctly graded nice coins or a good amount of undergraded coins?

jmlanzaf

I'm a firm believer that 90% of old holders aren't upgrade material. After 20+ years of break outs, the ones left are mostly the ones that wouldn't upgrade.

jesbroken

I have sold coins on GC in the OGHolders and never found them to sell any higher than the other walkers and buffs I auctioned. From memory I do not remember any selling lower than expected, but also not any higher because of the holder. I'm certain that is true for the old soap box ANACS of which I sold many.
Jim

TomB

@jmlanzaf said:
I'm a firm believer that 90% of old holders aren't upgrade material. After 20+ years of break outs, the ones left are mostly the ones that wouldn't upgrade.

I believe what @jmlanzaf has written has a lot of merit. The caveat, in my opinion, is three-fold and generally applies to those individual coins that churn on the bourse floor or through auction sites as well as coins that have always been so low in value or with such price compression that no one would bother to spend the resources to submit them for regrade (late date Mercury dimes, 1938-D Buffalo nickels, proof Franklin half dollars, circulated common date Liberty gold), but does not apply so much to coins that are tucked away in strong hands and long-term collections. However, that percentage of coins (strong hands and long-term collections) is pretty small.

Cougar1978

Not my dice table. Everybody knows what’s left over are 2nd teamers. Good ones picked off years ago.

I used to acquire some awhile back but whatever I gained playing that (upgrade) game basically lost in grading costs.

gumby1234

I'm one of those strong hand collectors. I've had over 200 slabbed coins for close to 30 years some maybe longer. I just took them out a little over a year and a half ago. Sold a few to forum members. Most still in my hands. Never have they been to CAC. I did crack out 2 soapbox ANACS coins last year. Both upgraded. There are many others i own that will upgrade. I think there are more older slabbed coins being held than people realize

jkrk

Anecdotally....

Older holders.... I've had for 10 do fairly well.

My New purchases sitting in older holders.... not so much.

Draw you own conclusion.

gtstang

Even if you find an upgrade candidate, the better value is to try and go for the gold vs. Cracking and upgrading.

skier07

@gumby1234 said:
I'm one of those strong hand collectors. I've had over 200 slabbed coins for close to 30 years some maybe longer. I just took them out a little over a year and a half ago. Sold a few to forum members. Most still in my hands. Never have they been to CAC. I did crack out 2 soapbox ANACS coins last year. Both upgraded. There are many others i own that will upgrade. I think there are more older slabbed coins being held than people realize

Agree with how many might be out there. But unless you choose to sell privately by the time a major auction house has them most have either been to CAC or resubmitted to a TPG.

gumby1234

I will probably be sending some to GC at some point for sale. @skier07

winesteven

Not discussing upgrades in this first sentence, but unfortunately I’ve found that OGH’s with CAC’s in auctions, whether GC, DLRC, Heritage, Legends, or Stacks, in general sell for money that’s closer to the “+” with the grade for a CAC, even though it’s graded without the plus (plus grades were not given when these coins were slabbed). That is, a 65 w/CAC in an OGH will often sell at 65+ w/CAC prices.

I say “unfortunately “, since as noted above, apparently most of the coins still left in their OGH holders won’t upgrade, and I feel that paying “+” money is usually not warranted. With that said, at times I get suckered, lol.

Steve

BryceM

An expensive coin in a non-CAC, OGH holder has almost certainly been looked at and passed over for either upgrade or stickering. An inexpensive coin may or may not be PQ for the grade. As has been said, there often isn't much incentive to send it through the mill again.

That aside, you still have to look and use your brain. Really exceptional coins sometimes show up in the most unlikely of places. Old hordes do sometimes get distributed, and not all have been scrutinized before they're offered to you.

MFeld

Coins in old PCGS and NGC holders that have actually been tucked away in collections for a long period of time, tend to be conservatively graded, by today’s standards - in quite a few instances, conspicuously so. When such coins enter the marketplace, they usually bring their deserved prices.

Coins in old PCGS and NGC holders that haven’t been off the market for a long period of time are usually a very different matter.

PerryHall

There are many slabbed coins that have been in collections for decades. Just like gumby. I have many coins in rattler slabs, OGH slabs, NGC no-line fatty slabs, first generation ANACS slabs, etc that I bought in the 1980's and 1990's when the slabs were new. I'm sure there are many other collections with older slabs that have been off the market for many years. Don't just assume a coin in an older slab has already been rejected for an upgrade. Eevery coin should be evaluated based on its own merits.