Ever buy a slbd coin because it was so undervalued due to the poor reputation of the grading co.?

JOHNandBEA

As much as the " big three" third party graders tend to drive prices up, have you purchased any coins slabbed by the less respected graders because their poor reputation has dragged the prices way down below their actual value, and then cracked them?

Any bargains in that approach?



John

GaCoinGuy

Sure, you can find the occasional good coin in some of the less respected slabs...........just have to really look at them closely.

JOHNandBEA

I think I'll pay alittle more attention in the future if the picture is decent.

I usually pass right on by.

Thanks

John

longtimecollector

DONT DO IT !!!! DONT DO IT !!!!! Theres some reason that coin is entombed in Another Crappy Grading services slab and its not the price difference to send it to a reputable one !!!!

BSqr

I bought a couple of modern gold commems graded by ACG (one proof, one unc)
Proof came back 2 grades lower and the unc came back one grade lower . I was anticipating one grade drop crossing to PCGS.

JOHNandBEA

you're scaring me!!

OK I'll be careful

John

sinin1

I tried that a few months on eBay auctions -> you really get burned when they come back bodybagged for countless number of reasons ->

cleaned
environmental damage
pvc damage
questionable color
scratched

or a designation that was there disappears - all of a sudden you do not have DMPL of FSB or FBL

The only way your approach will work is to buy at shows and know how to grade very well because scans and pictures do not cut it.

JOHNandBEA

Good points...

crito

Ever buy a slbd coin because it was so undervalued due to the poor reputation of the grading co.?

With modern proofs I have. I really don't think there's much of a difference between an NGC PF70 and an ICG 70. They'd both come back 69 from PCGS And to be honest, so would an overpriced PCGS PR70, if I cracked it out and resubmitted raw So, if I REALLY REALLY just had to have a label with a 70 on it, looking at modern proofs in ICG slabs might not be that bad an idea.

ultramike

Stop-don't do this ! IF THE COIN WAS WORTH ITS WEIGHT-IT WOULD BE IN ONE OF THE BIG 3 HOLDERS-THESE COINS ALMOST NEVER CROSS FOR REASONS STATED IN THIS TRHREAD-I ve tried it and recieved 3 morgans back in body bags for coin dr.ing. I t was un noticeable till 35 power-then you could see where cheek had work done-on a stinkin common date to boot-83-cc morgan ?
go figure but its really a waste of money unless your gonna try and resubmitt.

IMHO ONLY !
Mike Rogers

relayer

I thought I was the only one who got an "Environmental damage"

I did just buy an ACG Trade $1 MS63, but I paid AU money for it so I'll see.

dorkkarl

no question about it! i've made a danged nice chunk of change doing just that.

K S

Gilbert

I'm with DorkKarl on this one, although I did/do it so SAVE a chunk of change.

Maybe many coins are sent there for nebulous reasons, but sometimed, just sometimes they are sent there because the submitter is/was a cheapskate; and even sometime, the submitter didn't know any better.

smprfi

Stay away from ACG,NTC and gold label PCI.

MadMarty

I guess it would depend on the price paid for the coin. If you get a MS63 coin for a low AU price, then it could be worth it. That is if your willing to take the chance on a bodybag. I have picked up some Morgans in PCI holders (buying them knowing a 2 point downgrade) and have had not BBs so far. Out of the 5 I bought and submitted, 2 graded equal, 2 were a 1 point downgrade and 1 was a 2 point downgrade. As for buying a coin in an AGC holder, I would rather shoot myself...

DHeath

It really, really depends on what you're buying, and how well you know the series. Heck, some of the best collectors find upgrade candidates in holders from the big three. Just pick carefully.

Petescorner

The problem with getting a great deal based on a lesser grading service is usually one of 2 things:

1) If it's a "true auction" with a low opening price and no reserve, then chances are is an on-line auction and the images aren't good enough for you to detect problems with the coin.

2) If it's at a coin show, and you can hold the coin in your hand, then I have yet to meet the dealer selling these coins who didn't think they were worth the market value of the grade on the label! (What do you mean you don't want to pay 65 money for it? If ACG says it's a 65, then it's a 65!)

dorkkarl

petescorner, no question that it is not a sight-unseen endeavor. however, for me, buying of ANY coin must be sight-seen. holder doesn't matter for me.

K S

MadMonk

I have some beautiful coins in other than top three slabs. PCI mainly. As mentioned, you have to judge for yourself if the price is good for the coin in question. You arrive at a grade and a price on your own. You would be suprised how you can deal on such pieces, and get them at a more than fair price.

RotatedRainbows

I have bought a number of quality coins in lesser slabs, I always crack them before I send them in to NGC. Five of the rainbow Morgan's I have sent in came back with the star * designation, you can definitely find some deals if you know what you are looking for.