Crackouts vs. Regrades

bushmaster8

Some people (Segoja for one) have averred here that submitting upgrade candidates through the Regrade tier is a waste of time, because PCGS will not upgrade the coins , as this would be like admitting their mistakes.

I decided to put this to the test. I sent 13 coins in under Regrade tier and got 2 upgrades:

1956 50c went from PR67 CAM to PR68DCAM
1957 1c went from PR67 CAM to PR68 CAM

That changes the 1957 1c from a $100 coin to a $1000 coin.

I would think that results like this would behoove anyone from taking the crackout risk.

Opinions?

jacktheknife

Per Mr. Hall, the coins on regrade enter the grading room raw. In theory then there should be no bias. Being a skeptic, I am not sure I buy the "no bias" claim. The owner has the safety of no downgrade, however. But, if going for and upgrade and the owner is confident of the grade and possibility of upgrade then I would say crack it out and remove any possibility of bias. If the owner is just "fishing" then send it in for regrade in the holder. Just my two Lincoln cents worth

coinguy1

For the coins we submit to PCGS for regrade, we almost always utilize the show "regrade" service (fee of either $65 or $100, depending upon the insured value of the coins).

Based on the results over a long period of time, I have no reason to question PCGS's objectivity in awarding upgrades.

As a very recent example, at last week's Baltimore show, we resubmitted 6 coins for a client and three of them upgraded.

I'd rather use the regrade service, than chance the occasional unpleasant results of cracking the coins out and submitting them that way.

geb209

That's another interesting point. I suspect that show upgrades are easier to obtain than regular upgrades. Any particular reason why you wait until a show, Mark? Your mixing apples, oranges, and grape fruit. Then the comparison should be show upgrades to show crackouts. I know plently of people go for the show crackout game.

Datentype

I have been told that even though the coins enter the grading room raw that the graders are able to see that they are regrade service. I was going to guess that of the 13 coins, 2 of them upgraded and by the time i finished the sentence - sure enough!.

I feel that they will indeed admit they are wrong and change grades from past experience but i like the random crackout wild card much better - pure entertainment value if nothing else!

coinguy1

I don't know how it works in the grading room at PCGS's office. But, I have been told that at shows, at least, the graders do not know regrades are regrades. I believe that.



<< <i>Any particular reason why you wait until a show, Mark? Your mixing apples, oranges, and grape fruit. >>

Geb209, it seems that we have had better results with show, as opposed to non-show regrades. That is the reason we choose a fruity submission/mixture.

foodude

I've sent in a handful or so for regrades, and 50% upgraded. Of the specific coins I can recall, one went for a $40 coin to a $600 coin, and other from a $35 coin to a $225 coin.