Submission Help for Newbie

NorthIdahoFree

I was hoping I can get advice on submission. I have never submitted to PCGS or any grading service. I have a coin in a PCGS holder I would like to submit a coin graded as MS-60 but it most definitely PR-60 (or possibly PF-61). PCGS price guide for PR-60 is $27,500 and for PR-61 is $40,000.

Holder is lightly scratched here and there, but it has the auction sticker.

My questions:

1) Regrade vs, Reconsideration. Seems like reconsideration seems to be the default choice unless of course I want a new holder no matter what. Is that the case?

2) The Reconsideration options do not seem to include a prefix reconsideration, only PLUS, Suffix, and full numeric grade. I was thinking I would use the ANY option, but in the explanation page, they seem to indicate that ANY=ALL of the above.

3) If it does regrade at PF-6X, the jump in value would be beyond the Max of $10,000. does that mean I submit under "Rarities?" If my grading is correct, it is a rarity 9.6. if so, is that right, $300 + 1% of GP. that would make it a hefty $575+ fee.

4) If I submit as Express and insure for $27,500 and declare that value, it would be less money up front and then only if its grade is changed to proof would I they make me pay the extra fees?

5( The Guarantee Resubmission. This is like insurance if the new grade is below that which I submitted, correct? Is there any risk there? I read that they might keep the coin.

Finally, are there things I better not screw up that might cause me great risk in how I submit, I would appreciate it.

Thanks!!

ifthevamzarockin

The members here would be able to give you better advise if you posted a photo of your coin.

NorthIdahoFree

Sorry, I have a really low end phone. This photo of the Reverse came out decent and consistent. You can see the contrast. The frost on the raised wreath is clear, close to cameo. And the field are nice. The reverse is Pr-62.

On the obverse, this is the best one. Lots of scratches are on the holder. the headdress is a beautiful cameo. It is right there with the Pr-62 I have seen. But the face has only traces of frost. and the fields are not pristine under the loupe. You can see the mirror effect which is obvious in person. Hence I am thinking PR-60 for the obverse.

The fields blind you with a 10x when the LED light reflects off the coin. I can see micro orange peel near the rims, very faint and fine vertical lines and almost like look at ice with faint cracks under 30x-50x.

I have downloaded several dozen images of high-end business strikes and the few proofs that exist. I feel strongly it is a proof. No matte whatsoever. The coin has a mirror effect. No PL in 1854. Just proofs and business strikes.

But alas it is not a high-end proof which is why I have it. I would grade the reverse as a PR-62 but the obverse a PR-60. And I while I would hope tie goes to the runner, I understand the weight is higher on the obverse.

Finally, there is the scholarship on these 1854 proof coins. The understanding is that several of the proofs that have been graded pretty low, There are 3 PR-62s in the PCGS Pop Report, one AU-58, and the auction history includes a PCGS PR-60 auctioned in 1996 and an NGC PR-61. I am quoting what I read ar a Heritage Auction page, "Nearly all survivors are in the lower numerical grades of proof, with a few impaired pieces. In fact, only one or two Gem quality pieces are known. David Akers wrote: 'This would seem to indicate that most of the proofs eventually must have ended up in the hands of non-numismatic people who did not know how to care for them properly.' "

I have downloaded/screen shot images of seven of these coins. This coin appears to fit right in that Pr 60/61 slot and is consistent with the comments by Akers,

Thoughts ? opinions? ...and there is going back to my original questions. thx!

ifthevamzarockin

Sorry, I'm not better with proof gold.
Maybe someone more knowledgeable like @MFeld can help.

The reverse looks like it could be a proof, a better photo of the obverse might help.

You could also ask a moderator to move this thread to the main forum for more replies.
Or start a new thread there.

johnny010

Bump…

PeakRarities

That coin certainly appears to have proof like features but this thread needs to be moved into the main forum so the experts can see it, it’s not getting much exposure here.