PCGS graded my coins too high!

Russ

In another thread discussing submission results, one of the members said:



<< <i>don't worry too much, no one seems to post when their coin gets graded too high >>



That's actually true. Nobody ever posts when the grades come back higher than we expect. Fact is, though, my last five invoices in a row have seen a majority of the grades come back at - or higher - than what I had recorded in my notes. Here's the most recent.

PCGS Order Status for Invoice # 3038414

LINE # CERT # COIN DATE DENOMINATION VARIETY GRADE

1 60053659 1964 50C PR68 (PR69)
2 60053660 1964 50C PR68CA (PR68CAM)
3 60053661 1964 50C PR68CA (PR67CAM)
4 60053662 1964 50C Accented Hair PR68 (PR67)
4 60053663 1964 50C Accented Hair PR67 (PR66)
4 60053664 1964 50C Accented Hair PR68 (PR66) - PCGS really blew it on this one. It is NOT a 68.
4 60053665 1964 50C Accented Hair PR67 (PR66)
5 60053666 1964 50C PR68CA (PR68CAM)

My grades are in parentheses.

They screwed the pooch on line #1 (the coin is a 69 all day long), but the rest I sure as hell can't complain about.

Russ, NCNE

gmarguli

Nobody ever posts when the grades come back higher than we expect.

It does happen. Usually we just go over to the registry set forum and sell these coins to those guys. They don't seem to care.

LucyBop

Hate it when this happens! The nerve of those cats!

BigE

Who said that-----------------BigE

keets

.......so Russ, i'm confused. which of the following would you say is closest to the truth:

1. PCGS got 7 right and one wrong.
2. PCGS got 2 right and 6 wrong.
3. you and PCGS agree on the grade of two coins.
4. you think grading is subjective and accept grades which meet or exceed your estimate but think that when PCGS grades lower than you that they're wrong and it sucks.

my inquiring mind wants to know.

al h.

Russ

Just pick whatever choice you want, Keets.

Russ, NCNE

vam44

When did you send and recieve that submission,Wondercoin,...oops, I meant Russ!?

keets

i'll opt for number 4!!!

al h.

Russ

vam44,

I am certainly no cheerleader for PCGS. Apparently, you've never read any of my other posts about their service.

Russ, NCNE

braddick

That settles it! Russ needs to run/grade at PCGS and the current graders need to become "not even a collector"!

vam44

<< <i>When did you send and recieve that submission,Wondercoin,...oops, I meant Russ!? >>



Heh, when did you send/recieve? I assume it was a modern invoice.
Go! PCGS! Go!

wondercoin

"When did you send and recieve that submission,Wondercoin,...oops, I meant Russ!?"

Vam: Just because I do not publicly discuss my miserable grading results, does not mean it doesn't hurt as worse as anyone elses. However, being local to PCGS what it does mean is that I may submit a coin 3x-5x within a couple week period to try to have it graded properly. I essentially just brainwash myself to believe this is a "cost of doing business". If the next grade up is a $1500 jump up in price and I truly believe the coin deserves to be the next grade up, I don't like spending $500 in grading fees to get there (and would much prefer $100), but will do so. Of course, if you are wrong on a number of coins in a given week or month, it could be a recipe for losing some money.

Wondercoin.

keets

Of course, if you are wrong on a number of coins in a given week or month, it could be a recipe for losing some money.

hey mitch

it could also be a recipe for admitting that possibly you are chasing your desire to have a coin in a higher grade rather than accepting the simple fact that it has been graded properly. understanding the nature of the crackout game and choosing to be a willing participant seems a bit disingenuous, especially for a reputable dealer.

al h.

RGL

Wish I had Russ' problem. Actually, my problem is GETTING MY COINS GRADED AT ALL! Sorry ... they are slower than Hades any more. They must be taking 11 seconds per coin instead of 10 ... And, with an apparent big backlog and apparently needing to grade the coins before the end of the year to credit the income to this year's books, watch them start to fly out before the end of the year. Grades likely to be all over the place.

wondercoin

Keets: You are absolutely correct. It is very hard for one to accept the fact that one is simply wrong in his/her assessment of a coin especially where one has paid premium money to buy the coin in the firstplace.

My point is (and has been in the past) that I simply view a "bad day in the grading room" like being dealt a bad hands of cards at the poker table. I try to move on to the next hand. Just my approach - I'm not suggesting you agree with me or even try it out Wondercoin

robertpr

Wondercoin-

Being a frequent re-grader of coins (I assume by your posts), how often would you say that PCGS gives a coin the SAME grade two or more times consecutively? I would guess that when cracking a coin and resubmitting you'll wind up with the same grade about 50% of the time and the rest of the time it comes in a point higher or lower. Is this accurate?

wondercoin

Robert: No question, it is more likely than not that a coin will regrade at the exact same grade most (if not the large %) of the time IMHO. If one can focus on the top 10%-15% quality-wise of a particular grade level (much easier said than done of course), the chances become much improved of course. Another helpful thing is to have another skilled collector or dealer look at your coins - you would be surprised how valuable an "independent" opinion is

I submitted a beautiful (colorful) MS65 Walker in for grading for a forum member this week that we both really liked. It regraded MS67. My point is that even if this coin would have graded MS66, it would have been wonderful quality for the MS66 grade. In fact, it doesn't look bad in the MS67 holder! These (2) point upgrades rarely occur, but it is neat when they do, especially on an MS65 Walker!! Wondercoin.