Did you ever crack out an NGC coin and get a three-point upgrade at PCGS?
RGL
Posts: 3,784 ✭
Just curious ... I found, what appeared to me, to be a badly undergraded NGC PF-62 1938 Jefferson, paid all of $17 for it. It struck me as a PR-65 all the way. While granted, it received a little TLC dip for a little haze, the haze was not that bad and the dip only marginally helped the coin, if at all. At any rate, sent the coin to PCGS and the grade came back this week at what I considered to be the correct grade of PR-65. How often do you see a major grading service make a three-point mistake? One, easy to see, two occasionally. But three points off?
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<< <i>How often do you see a major grading service make a three-point mistake? >>
Every NTC slab I've ever seen.
Oh wait! You said "grading" service!
Russ, NCNE
K S
So ANACS really screwed up, huh?
Russ, NCNE
Can do some miraculous things. Luster and eye appeal probably shot up.
The Ludlow Brilliant Collection (1938-64)
The Ludlow Brilliant Collection (1938-64)
The Ludlow Brilliant Collection (1938-64)
Successful crackout artists tend to go by percentages. They take the best of their coins that they feel should reasonably cross, and hope to achieve a 30% success rate. With that kind of success rate, they calculate that they can profit at the wholesale level. And, of the failed 70%, many of these dealers can try again at the next show. Some of the bigger crackout dealers have the financial strength to keep on trying if they really believe in the coin.
Another thing this thread serves to illustrate is that if we try this often enough, we get more and more maxed out coins. Karl's and DCAM's cases are big exceptions!!! (Sorry, guys!)
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
<< <i>So ANACS really screwed up, huh? >>
personally, i think both anacs & pcgs screwed up
K S
Along with those coins, were 3 PCGS proof Franklins and 1 ANACS PR-67 Cameo that I thought deserved DCAM status. Two of the 3 PCGS coins received a lower numerical grade from ICG, than that provided by PCGS. Neither of them went Cameo, though had they been common dates (they were 1959), I think they would have received the Cameo designation. The 3rd PCGS Franklin was a 1957 PR-68 that I purchased from Val Webb. It was recently graded and made PR-68 Cameo with ICG. Gratefully, as I needed the profit from that coin to fund this little experiment! The ANACS PR-67 Cameo came back with the exact same grade. The obverse was solid DCAM, perhaps the reverse mirrors were a little shallow, but I mean a little.
<< <i>Karl: No flame involved, but I wonder, why would you crack out a key date PCGS Buff at 35 and send it to ANACS? >>
i should make 1 thing clear, i have never EVER been a "crackout artist". my only reason for cracking it out was to house it in my dansco album w/ the rest of my set, where it sat for a couple years. that was THE ONLY reason. & the only reason i chose anacs was because i thought they were most reasonable price-wise at the time. i honest-to-goodness had no preference of 1 plastic co. over another
cracking out a coin w/ the intent if resubmitting for a higher grade is ludicrous from a collecting standpoint (obviously everything changes for speculative purposes)
like i've said before on several occasions, this horrendous occasion was ultimately what prompted me to remove every single 1 of my coins from their slabs, & i have not looked back ever since. after ALL of my coins were freed, & deciding that from that point forward, i would take responsibility upon myself for learning how to grade, i can tell you it was like having a burden lifted off my shoulders.
K S
I'm kinda looking to do the same thing...pick up maybe a few really nice ANACS coins to update my Walker short set, which I keep in a Dansco.
<< <i>Then why even submit to ANACS after you cracked it from the PCGS ?? >>
paigowjohnny, i was wondering how long 'til somebody asked. simple reason: i believed all the garbage how you gotta have your coins slabed to get top-dollar.
THAT IS B-S.
my only purpose was to bail out of buff's, get top-dollar for 'em. you know what? i didn't.
i bought the plastic, i sold the plastic, & in the end, i got screwed TWICE.
learn how to grade coins yourself. that is THE bottom line
K S
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
"Seu cabra da peste,
"Sou Mangueira......."
By the way, PCGS didn't fare much better.
Glenn
The coin in question was a 1901-P Morgan Doubled Die Reverse (VAM 3) XF45-NGC. The first trip to PCGS was as a crossover in the NGC holder. Result: XF45-PCGS.
Within two weeks of getting it back in my hands, it went in again as part of an 8-coin regrade package of PCGS coins in their holders, as the free gradings gift for my Collectors Club membership renewal. Result: AU50-PCGS.
About 18 months later it went in again as part of a 3-coin regrade package of PCGS coins in their holders, which I paid $30 each for this time. Result: AU53-PCGS.
By the way, AU53 is what my gut reaction to the coin was when I first saw it as an XF45-NGC.
Just to play devil's advocate in this little tale... at the polar extreme of this story was the XF40-NGC example of the same variety Morgan that I cracked out and sent in raw to PCGS. Result: VF25. It was later sent back in as a part of another in-holder regrade package; it's now a VF30.
-- Dennis
Recently I've seen NGC be very tough on some seated coins that PCGS graded higher. The bottom line is that the grading services are less consistent now than they ever were on classic coins. The grading problem, nearly solved in 1986-1988 is now almost back to the point where unless you can grade on your own, you can get your butt kicked buying slabbed coins at sheet levels.
roadrunner
K S
<< <i>I paid a nice premium to acquire a nice 1961 NGC PF-68 Franklin that had a solid Cameo contrast that I felt deserved the Cameo designation. So, I cracked it out and sent it, along with 13 other proof Franklins, to ICG. The coin received the Cameo grade, though it was a PR-64 Cameo. ICG dropped the grade of that NGC Franklin by FOUR(4) points. Very unprofitable.
that's becaue igc is a JOKE just like you BOY eweanyofittysebbum
<< <i>
<< <i>I paid a nice premium to acquire a nice 1961 NGC PF-68 Franklin that had a solid Cameo contrast that I felt deserved the Cameo designation. So, I cracked it out and sent it, along with 13 other proof Franklins, to ICG. The coin received the Cameo grade, though it was a PR-64 Cameo. ICG dropped the grade of that NGC Franklin by FOUR(4) points. Very unprofitable.
that's becaue igc is a JOKE just like you BOY eweanyofittysebbum >>
<< Hey, that is one of Pepperdoodles' prime sources of coins. He LOVES the NTC holder and Centsles! He has 12 auctions from Centsles on the first 2 pages of his Feedback. ALL of them are NTC slabbed coins.
Why he was willing to pay 16% over Bid for this DMPL Morgan:
DMPL Morgan
And I don't have any idea what he saw in this '67 SMS Kennedy
'67 SMS
This may be one of those oven baked cookie pan coins
'55 Franklin
That will probably be cracked out and sold raw as a MOOSE! >>
you're such a pud wannbe that couldnt.
#1 THE 64 81CC IS IN FACT A BLASTY TRUE 64+ DMPL CAMEO (even ntc makes stupid mistakes just like you do,heh heh)
#2 the 67 sms all it needed was a bath, it's in the pcgs submission box,a lock 68 cam
#3 the 55 $35? or something like that,turned out it was in fact dippable,not etched in toning,it's in the pcgs box as well lock 7cam,shot 8 even.
Too funny! Ebay PEPPERDOODLES (ie doops) buys 3 coins from Centsles in NTC holders and claims that all 3 coins are accurately graded and that 2 of them will probably upgrade at PCGS!
And you speak poorly of ICG? Pffff.....
16% over bid for a NTC DMPL Morgan. Smart buy. Not!