question about an Indian head

ferd

I have an opportunity to buy an 1885 Indian head that is in an old PCGS holder from 1986. The grade is PR64 red. The price offered to me is $430.00 I know many of these coins in the old holders get resubmitted and come back with a higher grade. Would this offer be a good price for me to snap up?

coinguy1

ferd,

The price sounds like a fair retail price for a nice PCGS PR64 RD dated 1885. However, you should not buy it sight-unseen, unless you know the dealer to be honorable and you have a no penalty return privilege. You should also not presume that it would or even could upgrade just because it's in an old holder. Many coins in old holders, just as in newer ones, are dogs

Cam40

Sometimes it can be the case.That PF64 could very well upgrade a point.
Sometimes its not.This is were you have to try an judge the grade it is and what you think it could be
in todays market.If your grading skills are really good you,ll find the answer usually.Check it with other pieces out there,Ebay auctions for starters, for grades and looks.Good luck.

Pushkin

You can expect to pay up to $750 for a very high end 1885 PR-64 RD. Check Eagle Eye's Pink Sheet for the very high end prices. However, the same coin in RB would fetch a maximum of about $300. Remember, these are top $ figures for very high quality coins.

Follow Coinguy1's and the others' advice here. Be sure the seller has a very good return policy, you'll really want to see the coin. Proof Indians should have super eye appeal.

Don't assume that the older slab means stricter grading, at least with Indians, I've seen plenty of examples where just the opposite is the case.

I would say if the coin is really RD and has good eye appeal, $430 is a very good price - but you might ask yourself, why is it so good? Do you know the seller well, do you trust the seller?

Good luck. It might be a great coin!

shylock

Coinguy1 makes a great point about not assuming anything about an IH by the generation of the slab, there certainly are many dogs left behind in the original PCGS holders. Another way to look at is, most of the upgrade candidates have already been picked over, leaving mostly accurately graded or problem coins in these slabs.

toothpuller

Link to Eagle Eye proof price guide.

ferd

Thanks everybody for your help. I have not made up my mind yet, but some great tips have been poited out.

Lakesammman

Here's a idea. Buy it sight unseen. Then spend $120 submitting it to PCGS, trying for a 65 grade. When you give up, sell it for $300. The lessons you'll learn will last a lifetime....consider it tuition money.

boiler78

Lakesammman- I think I am still going to that school!

ccrdragon

Unfortunately, most of us are!

The school of hard knocks has no graduation date, no schedule and has a tendency to be very, very expensive! The good thing
is that most people NEVER forget the lessons that they learn as a result (unless they are the terminally stupid and then they get
thier graduation papers earlier than most of us....)