Has anyone submitted their GSA's to NGC for certification?

gsaguy

I realize that since NGC just kicked off the program and since I saw none at the Houston Money Show, I doubt anyone has yet received one from NGC.

However, since I've included this subject in my book on the GSA sale, I'll be very interested in the experiences of forum members with the program. Besides the obvious (a high grade) what are your expectations with the program?

Do you believe you'll be more comfortable buying/selling higher grade GSA's. Are you concerned about possible damage to the holder if the NGC certification tag is removed? Do you feel the program will be a positive one as it relates to the value of GSA CC dollars?

For the record, I bought an 1891-CC GSA from a dealer at the Houston show that he had submitted to NGC for certification. According to him, the coin grades MS64 (he knows what he's doing so I'm comfortable with his grading skills). However, since I have a bit of concern about damage to the holder, I had him call NGC and return the coin to him without their certification tag.

Thanks in advance for any responses.

GSAGUY

FC57Coins

Good Morning Bryan:

Here's a thread showing one of the GSA dollars graded by NGC

As a collector, I think that you have to have some protection in today's market and I'm glad NGC has gone this route of grading the coin in the holder. To me that'd be the best of both worlds. I was kinda sorry that the one you sent me had to be taken out of it's slab, but in all honesty, I took it to a couple of local dealers who poopooed the coin in the GSA slab saying that it was just a common date and not really caring about the fact that it was prooflike. When I took it back graded, they weren't quite as critical of it. Go figure huh?

Frank

gsaguy

In general I'm very glad that a reputable grading service recognizes the collector value of GSA coins and is certifying them in the original holders. I'm just hoping that the long term attachment of their grading label won't damage the coins.

GSAGUY

jbsteven

BRYAN:

I believe it is a good thing for the value and resale of the GSA's. I do wish since NGC is going the route of putting their "holders" on them then I wish they would completely encase the holder (similar to the existing NGC slabs) and guarantee the grade, just like the regular slabs.

I talked to one dealer at the Houston show and he said he was one of the first to send in some to be graded and he should have them back in the next few weeks. I am sure a few will show up at Long Beach. I am looking forward to buying a common date one with the new holder to see for myself and pass true judgement then on the whole thing.

BTW you guys sure had some nice stuff at the show.

keithdagen

Sheer speculation at this point, but I think that the grading label affixed would not be removable. I guess the potential exists that you could remove the label, and use some kind of solvent like denatured alcohol to remove the sticky residue, but after long-term storage with the grading label attached, it might stain the holder a bit, kind of like tape that yellows.

paigowjohnny

I was really excited when I first saw it, but not so much anymore.

- My GSA CC dollars are pretty average...they would probably max out at 63. No 65 DMPLs in the lot.
- I'm pretty secure in the fact that a GSA slabbed dollar is genuine, so I don't need the 3rd party eval.
- NGC grade may help resale eventually, but that isn't one of my concerns.


If somebody has an absolute GEM dollar in a GSA slab, then I would by all means use the service and keep the coin in the GSA slab...to preserve that little piece of history...rather than cracking it out and submitting. This is the one part of my collection where the collecting of the plastic ranks up with the coin.

By the way gsaguy...I'll want to be one of the first in line when your book comes out

Wish I could afford a GSA 79/90/91-CC

keithdagen

One benefit of the grading, which was posted on the NGC boards today, is that the certified GSA "slabs" will be allowed in the NGC Registry, and NGC will also create a GSA-only Registry Set on their site, so you don't have to crack the coins out to get them into competition, if the Registry is your thing.

gsaguy

A GSA-only registery set..........interesting! That should be fun to watch.

In an earlier post I commented about my concerns that the grading tag might damage the coin. Of course, I meant the GSA holder.

Thanks for the posts guys.

GSAGUY

paigowjohnny: I'll put you on the ever-growing list. And when you do want to buy a 79/90/91-CC GSA, come to me....I guarantee that I can make the purchase do-able for you!!!

chiefbob

And you have to submit the minimum number for each tier type of submission?!?!?! I haven't submitted anything to NGC yet, and may never do it based on their minimum submission #s. But, if I read their submission policy correctly, I can submit one coin for $28 as long as it's value is under $3,000?

Can anyone straighten me out on this? I have two GSAs I'd like to submit (1882-CC and 1883-CC), but not sure if I have to spend $28 each to do it.

Thanks in advance,

Bob

Dog97

I started a thread @ NGC last week asking if they were allowed in the Registry. I'm glad to hear they are. I'd like to put that crazy looking one of mine in my set. I'm not worried about the label damaging the slab since I'll probably leave it on there as long as I own it and I really can't see it negatively affecting the value or desirablity of it.
Let me know if you're sending any in. Maybe we can get together & split the shipping or something.

keithdagen

Updated from across the street:

A new registry set has been created for Carson City Mint GSA-holdered dollars with NGC grading labels applied. These coins may also be included in the regular Morgan Dollar sets.

These coins receive a scoring premium over non-GSA/NGC holdered coins in most grades, reflecting the premium placed on them by the marketplace. Due to their extreme rarity in GSA holders, 1889-CC, 1892-CC and 1893-CC are unscored as display-only items.

gsaguy

Thanks Keith for the info. If I wasn't so lazy, I'd walk across the street and check out the NGC boards.

Keep us posted!

GSAGUY