Poll: Crack-out and submit or Crossgrade?

Prethen

I know this has been talked about frome time to time in forums like this. Normally, I see it as a question for a particular coin. I'm wondering, in general, what are people's experiences with NOT cracking out the coin. I've heard the general horror story that PCGS will refuse to upgrade an NGC coin and vice versa. So it would seem it's a waste of time and money to simply send in a slab for cross-over....true?

Also, could someone repost the "proper" way to crack out various TPGS slabs. Thanks!

I was thinking....sledgehammer?!

bearcave

Russ

Bearcave,

You must be wealthy. Your hammer is much nicer than mine:



Russ, NCNE

BigGreek

My main reason for cracking out is so I don't have to submit using multiple forms.
I typically submit a batch which consists of 50% raw, 40% cross and 10% resubmit.
If I were to submit these according to the type I would have to fill out three
forms and pay three shipping charges. Instead I just crack them out and submit
them all as raw.

My preferred method for cracking out slabs is to place the slab is a small metal
bench vice and use a 1 inch chisel and hammer to break the seal around the
edge of the slab (about 50% is enough). I then pull the slab apart to get the
coin out. Most slabs have the coin in an insert which makes it handy to remove.
PCGS is an exception.

Once out of the slab I will give the coin a quick acetone rinse (if it looks like it
may benefit) and quickly put the coin in a safe-t-flip which I tape shut. I try to
minimize the time the coin spends in my dusty workshop air.

I use latex gloves when handling coins.

bearcave

<< <i>Bearcave,

You must be wealthy. Your hammer is much nicer than mine:



Russ, NCNE >>

Prethen

tmot99

NGC and ANACS - use a hammer around the seal to crak it.
PCGS - wire snips and snip away at the plastic around the plastic ring.

I usually crack and submit, but have been burned once or twice.

coinkat

I did not vote because if you are considering the crack out game, there are many risks and each coin must be evaluated on its own merits as well as how TPG companies handle certain series.

relayer

If it's valued at over $300 there isn't any difference in fees (unless you add the additional fee to get it reholdered back in it's original grade)

But IF you do crack out a coin - ALWAYS WEAR EYE PROTECTION. You never know where those chards of plastic will go flying.

Elcontador

In some types of coins, like minor coinage, there is a large spread between a PCGS & NGC Unc. coin in the same grade (as a % of value). If you can do a same grade cross (NGC to PCGS) in this situation, the coin can become more valuable. Where the spread between the two in same grade is small, it's not worth the bother.

Personally, I would not submit raw under any circumstances, and I wouldn't submit an NGC coin for a same grade crossover at this time.

Prethen

"each coin must be evaluated on its own merits as well as how TPG companies handle certain series. "

That's an interesting comment. Would you mind mentioning some of your insights in this area? I'm especially interested in type material and early proof material.

XXX

Crack that puppy out! (And send the cert back in after you have had it graded.)

Prethen

"And send the cert back in after you have had it graded"

I take it you mean to send it make to the original service so that the population reports can be adjusted. I COMPLETELY agree. Population reports are essentially utter nonsense in their current state, but that's for another thread!

fivecents

Just remember Prethen, once you crack a coin out of it's TPGS holder.......................ALL BETS ARE OFF!!

Prethen

"once you crack a coin out of it's TPGS holder.......................ALL BETS ARE OFF!!"

...'tis true. But, I've heard a number of dealers state to NEVER submit a slab for cross-grade the grading services and inclined to not cross it over and less inclined to improve another service's grade. I'm curious how often that assertion is wrong.

Prethen

...interesting...

It seems that by a wide margin, you folks so far appear to favor cracking open that plastic.

Any horror stories out there about a poorly planned crack-out, as in accidental damage?

bushmaster8

I have cracked maybe 500 or so...damaged one (carelessness).

coinkat

Prethen:

I have seen an 1896-O Morgan get cracked out from a 62 holder of a highly reputable TPG only to come back graded AU58. Cracking coins out in anticipation of a higher grade is not always a winning concept.

Prethen

"Cracking coins out in anticipation of a higher grade is not always a winning concept." - Coinkat

Boy, do I know this first hand. I tried this a few years ago with an ANACS MS61 1917 25¢ Type I SLQ and it came back AU58 (I think from PCGS). That was a total waste of money for me. I simply broke open the plastic again and placed it into my type set. I remember showing it to a dealer at the time who commented that he felt that it would be worth of a mint state grade.