What is the biggest price increase on a cracked out coin???

MadMarty

We have all cracked coins out and re-submitted them, What is your biggerst price increase of a coin you cracked out?

I bought a 1880-P Morgan PCGS MS64 for $65, cracked it and re-submitted it came back a MS65 CU price $750!!!

kranky

I don't crack out coins, so I'll tell someone else's story.

At last summer's grading class, one of the instructors (not coinguy1) said he and his partner snagged a really nice $1 gold in an old ANACS MS65 holder at a Long Beach show some years ago. They cracked it out and had it regraded at NGC on a walkthrough and it came back....
.
.
.


MS69.

He said when they picked it up at the NGC booth, everyone in the show heard them screaming with joy. I don't remember what he said the increase was exactly, but it was something insane like from $500 to $80,000.

Russ

Cracked out a 1965 MS67 SMS Kennedy that I BINed from R&I for $45 because I thought they got screwed on the cameo designation. Came back as a 67CAM, sold it for $385. Did the same thing from them on a 1967 MS65CAM that I got upgraded to 67CAM. Not quite the same profit level on that one, though.

Cracked out another 1965 SMS holdered as an MS66 no cam that I picked up for $24 on eBay. Came back as a 66CAM, sold it for $110. Have another of these in at PCGS right now that I paid $17 for; hoping for the same result.

EDIT: Oh yeah, Marty, if we're going to use the CU price guide, the above 1965 in MS67CAM would also be $750.

Russ, NCNE

MadMarty

I know this guy ( a real pain ) who bought a 1964 AH Kennedy at a Heritage auction. Thought it wasn't right and Had PCGS look at it. Well PCGS paid off more than he paid for the coin and gave hime the coin back. Now that's a deal!!! I just can't remember who the person was!!

JohnButlerfromLV

In the 1989 hot coin market Mark Crans got a 1901-S barber quarter to go from MS66 to PCGS MS68.
I believe he made well in excess of $250,000 on the upgrade.
John Butler
Sahara Coins
&
Vintage Paper Memories

Barry

<< <i><snip> MS69.
He said when they picked it up at the NGC booth, everyone in the show heard them screaming with joy. I don't remember what he said the increase was exactly, but it was something insane like from $500 to $80,000. >>


Which is one of the reasons I collect circulated coins...

Russ

Hey Marty,

Not only that, you even know the pedigree on that doctored coin.

Russ, NCNE

roadrunner

That story about the 1901-s quarter is interesting. There were at least 2 of those in gem that were upgraded by their owners in the '88-'89 market. One of them was the beautiful James Stack coin that had sold for $5000 in 1975. A monster toned orig gem. Bob Rose and Ron Iskowitz bought the coin out of one of the major 1980 auctions as the market peaked ($90,000). It wasn't until the late 80's that the coin recovered it's value and it was sold, slabbing out as a MS66. Then one of the crackout kings dipped the thing, got a 67 and made a ton of money in the span of weeks. How ironic that one set of owners probably made nothing on this coin carrying it for a decade while the crackout dealer, who adds no value to the coin itself, does quite well. One less original gem out in existence.
Such is our "hobby." $5000 to $90,000 to $250,000. Not bad for
15 years (28% per year)

roadrunner

RELLA

During the drought of Lincoln grading late last year I mostly got smacked silly on crackouts and regrades (and wondercoin can back me on that!) but my two biggest crackouts both upgraded...one of them 2 points:

1914-S PCGS MS64RD blue holder went PCGS MS65RD first try.
1909-S VDB PCGS MS63RD green holder went PCGS MS65RD first try (and had an outside shot at 66 IMO).

RELLA

Buffchips

I cracked out an MS63, $10 half Eagle that I paid $2600.00 for. Submitted it to PCGS. They BB'd it. Next time I think about cracking out a coin I'm just going to go out and buy some crack instead. I've got it out in my salmon smoker for the winter hoping to get some of that original luster back on it. What do ya think?

BSqr

buffchips, ouch!

ANACONDA

Back in early 1989 i bought a raw 1879-S Morgan dollar for $75, from a dealer in Austin, Texas. I sent it in for grading to PCGS. It came back a ms66. I went to Long Beach and sold it for $1,200. (I met 'Bull' from Night court there....and met him again....in Central Park, NYC a year later. He remembered me...."Yeah, you're the guy i met at the coin show a couple of months ago...". A really nice guy.)

adrian

braddick

<< <i>Back in early 1989 i bought a raw 1879-S Morgan dollar for $75, from a dealer in Austin, Texas. I sent it in for grading to PCGS. It came back a ms66. I went to Long Beach and sold it for $1,200. (I met 'Bull' from Night court there....and met him again....in Central Park, NYC a year later. He remembered me...."Yeah, you're the guy i met at the coin show a couple of months ago...". A really nice guy.) adrian >>



Adrian, You're holding back. You snack on deals like this one your wrote of.
Now, tell us about your favorite five course meal. And, don't leave out the details of dessert.