Submissions are in and I got clobbered !
Draco
Posts: 512 ✭
With the exception of three of these coins, I didn't expect any to come back with less than MS63. I'm really upset on the walkers (I cherry-picked them and didn't see a trace of wear). I'll be licking my wounds from this for many months to come.
1 90061224 1858 50C AU53
2 90061225 1858-O 50C Cleaning
3 90061226 1871 H10C Cleaning
4 90061227 1865 3CN AU58
5 90061228 1828 1/2 C 12 Stars Damage
6 90061229 1945 50C AU55
7 90061230 1942 50C AU55
8 90061231 1883 5C No CENTS AU55
8 90061232 1883 5C No CENTS AU58
9 90061233 1892 25C Damage
10 90061234 1861 25C Altered Surfaces
11 90061235 1852 1C XF45BN
12 90061236 1832 1/2 C Damage
13 90061237 1864 2C Large Motto AU55BN
14 90061238 1912 10C AU53
Linky
1 90061224 1858 50C AU53
2 90061225 1858-O 50C Cleaning
3 90061226 1871 H10C Cleaning
4 90061227 1865 3CN AU58
5 90061228 1828 1/2 C 12 Stars Damage
6 90061229 1945 50C AU55
7 90061230 1942 50C AU55
8 90061231 1883 5C No CENTS AU55
8 90061232 1883 5C No CENTS AU58
9 90061233 1892 25C Damage
10 90061234 1861 25C Altered Surfaces
11 90061235 1852 1C XF45BN
12 90061236 1832 1/2 C Damage
13 90061237 1864 2C Large Motto AU55BN
14 90061238 1912 10C AU53
Linky
0
Comments
I'd have to look them up, but off hand I'd say that 5 or 6 from that group came from ebay. It's difficult to estimate grade from most seller's ebay photos, so I only end up sending maybe 1 out of every 6 coins I get from there. Most of the raw stuff on ebay is crap that was probably sent in, rejected or slabbed below what the "submitter" was hoping for and then listed again/first time on ebay for some unsuspecting chump like me to click on the bid button. BUT. . .every once in a while you can find a decent raw coin there.
many many submitters the last month or so at both services got really hit huge big time
mANY millions of $$$ of coins are cureently off the market in dealers personal "food" lockers that will not be sold in their current holders graded the last few months by pcgs and ngc
sincerely michael
are there other perceived benefits from getting these kinds of coins slabed?
K S
LSCC#1864
Ebay Stuff
For some life lasts a short while, but the memories it holds last forever.
-Laura Swenson
In memory of BL, SM, and KG. 16 and forever young, rest in peace.
Who's in the grading room. Yes, I was directed to the PCGS hompage, and I know Gordon Wrubel and I can't think of the other guy's name, are recent additions.
I want to know why the significant change; a "scrutinous eye" or an "overly-scrutinous eye."
Yes, to me, there is a big shift in the standards many have come to expect, and I know the $hit evolves every so often, but, this isn't the way submitters should find out.
My real issue is someone in the grading room may have NOT been so "scrutinous" when in the retail market - and that is what disturbs me. This is only an assumption since what goes on in the grading room seems to be protected like a "national secret."
Tom
I try to be as honest and fair minded as I can about grading, but when I get treated like this, I get angry. High handed, unfair treatment with no recourse for the consumer is a good reason for me not to submit coins to PCGS again. There’s a big difference between ignorance and exercising tight grading standards.
Brian-
But in all fairness I don't think everytime someone doesn't get the grade they feel they should have (or deserved) it should always be blamed on the grading company. It could once in a while be the that the person complaining might be in the wrong.
Honestly when I read all this, I feel I can almost tell who probably knows what they are doing as far as grading and has a right to complain, and some who don't know what's happening and jumping in on the bandwagon when they should be buying better quality coins from a different source. JMO
At the FUN show I bought and sold a flyer in PCGS MS-64 holder that had been cleaned bright white. The coin had a nice appearance, but it sure wasn't original. Yet a naturally toned coin like this, which is consistent with the look of coins in series, gets slammed. Now you know why I'm angry.
Grading room paranoia induced automatic bodybag.
Russ, NCNE
i just don't understand why you love to give your hard-earned $ away like that
if 20 submissions = $300+ bucks (according to what russ told me), i don't see how your enjoying burning off cash like that. you could very easily take $300 & buy a beautiful UNC bust half, for example. i bet you'd enjoy it a lot more, too.
K S
You too can submit your collection for grading to see if your grading opinion matches that of a professional. This will give you a security blanket knowing that an expert has graded your coins, because you may not be able to. This will raise your self-esteem as a collector and put you into a higher comfort zone.
Who cares about an uncirculated bust half, there are millions of SAC's yet to be slabed.
But disagree that anyone reading this should buy draped and capped bust coins, there aren't enough of them to go around. My advice: stick with coins minted since 1916, and preferably, since 1986! Plenty of those to go around!
I also think billjones got rooked on his flying eagle cent. looks like a peach to me.
Liberty: Parent of Science & Industry
Tom
any overdates reported yet for sacagaweenies?
K S
nonetheless, i still like it.
would you trade it for a roll of unattributed sacagaweenies?
K S
yet you have a nice collection of raw classic coins! I for one would like to see some pictures of your coins! and discussion of pre-1834 coinage! something positive and less cranky!
start a thread, man!
Liberty: Parent of Science & Industry
what bothers me is folks who get taken advantage of sending coins, such as 1997 lincoln pennies minted by the BILLIONS in for slabing. why?
allegedly, if you believe what many folks on here claim, slabs protect newbies from being ripped off from overgraded coins. so, sending in coins minted by the BILLIONS (ok, MILLIONS in the case of sacagaweenies) at $15 a pop is not a ripoff??? it's like dying a slow death! over the past couple of weeks, there have been a lot of threads about submissions, TWENTY at a time, which equates to $300 bucks.
who the he11 is really getting ripped off here??? i'm staggered by the number of folks who gleefully report to us that they just dumped 300 bucks into pcgs's coffers for the pleasure of being insulted (by their own assessment) by stingy grades.
i just want to make sense of this!!!
sure, if you got a rare $27,500 mintage of 450 proof bust dollar, by all means, get it slabed! but sacagaweenies by the roll ???
c'mon
K S
one only is likely to get "ripped off" if they expect more from the system than it can reasonably be expected to provide, or if they are gambling, hoping for a "big score" to make a profit that covers all the losses from pieces that didn't "grade out"
authentication and grading are essential to the collectible trade, for providing liquidity in transactions. if some items are not deemed by you or me to be "worthy" of authentication and grading and encapsulation, we can choose not to participate by buying such items for any premium over unslabbed coins (just pass if it costs more than one readily available unslabbed) and especially by not sending such item in just for the purpose of getting them "into plastic"
but to continually bemoan that money is "wasted" by these activities is not strictly accurate.
I would say that everyone is at a different place on the learning curve, and that a few submissions will teach a lot about what is "worth slabbing" and what is not. the initial post of this thread, case in point.
Liberty: Parent of Science & Industry
it's the only coin of this design I own for more than face value, it's destined for a raw type set, not a slab.
Liberty: Parent of Science & Industry
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
I sent in my first 8 modern commems that I bought from the mint over 10 years ago. I just decided to look closley at them and came up with a few to send in. Of those 8 I got back 6 MS69's and 2 MS70's. One of them is a POP 7. This is why people send in modern coins.
Mike
Draco's thread says that he got "clobbered." My question is who did the clobbering, the vendors who sold him cleaned, damaged, over graded coins, or PCGS who merely inspected the coins and reported their findings?
A collector who sends a coin for grading and gets it back in a body bag or with a grade he or she disagrees with has only lost the grading fee. They still own the coin and the coin is what it is regardless of whether it is in a slab and regardless of what grade is on the holder. They only get "clobbered" by erroneous grading if they resell the coin for less than its true value based upon the erroneous grade on the holder or the belief that it is a problem coin. But if they truly believe that it is incorrectly grade or was incorrectly bagged, they will sell it (or try to sell it) for the grade price they believe to be correct, even if means cracking it out.
A dealer, on the other hand, has business costs to deal with when the grading services err, such as the cost of re-submission and having inventory and capital tied up waiting for a correct grade.
CG
"Please Mr. PCGS, please grade my coin at the grade I want!"
"Oh no, Mr. PCGS just ruined my once pretty coin by giving it a lower grade than it clearly deserves."
"Mr. PCGS, I'm really mad at you for giving me such low grades, but don't worry, I'll still send in some more coins next month!"
"Since Mr. PCGS runied my coin by giving it a bodybag, I'm gonna have to pay some more money and send it to another service....yeah, that's the ticket!...no wait, I'll just send it back to PCGS and hope someone else grades it this time! "
Everyone is always so optimistic about their coins. But hey, if PCGS says they suck, they have to suck. Who's the sucker in that equation? I think it's a toss up. Anybody want to flip a coin (I mean, a slab) to decide this thing?
rips out there for amatures. Until you get quite a bit better at this, you should stick to PCGS coins only. I do wish you the best of luck.
Rusty
<< <i>I would refrain from sending in anything pre-65 until there's another change in graders. >>
I concur.
<< <i>oh, & call me crazy, but billjones, notthing personal, but the color on that f.e., if true to the computer screen, does look a bit "off" to me. >>
I concur.It looks too golden for a flyer,it has the look of a "suspect" bronze indian cent/gem red indian cent, depending on who`s grading it and WHEN they graded it.
Ok, I never claimed to be an expert at grading. I like to THINK that I can grade walkers, but it's obvious that PCGS has put me in my place. I never send in MS or circulated coins minted after 1940 or so. It's just not worth the money it takes to slab (most of them) but I do own many, many moderns in slabs. I've never, ever sold a coin to anyone. Other than protecting the coin, slabing a coin gives the it some value that should allow you to sell it and recover most, if not all, of you investment (not to mention that in most cases, objectivity in grading is removed).
Notes on my submission: The 1828 half-cent was a risk and I knew that it may come back with environmental damage. The 1861 seated quarter I spent lots of time comparing it to other seated quarters and I couldn't see any difference. In fact, all of those coins except the 1852 (I thought it would grade AU53) and the 1864 2 Cent were compared to other coins in my collection. I have a ton of raw coins and I'll generally pull out quite a few and send in the best one I have.
Of course, I'm getting older and maybe my eyesight just isn't what it use to be. Maybe I just plain stink at grading. Oh, now I remember. . .I've never had a problem before and my coins USUALLY come back within 2 or 3 points of what I thought it should have been.
No, I did not enjoy spending $314 dollars to have those coins graded. It looks like the collective lot of them wouldn't make up for the grading fees and I'm afraid to check my records to see how much I paid for them. I'm sure it was way too much.
I think it's time for a coin-collecting break. I'll stick to reading about them again for a while.
Many thanks to all who responded with good or bad