Shaking in my Boots about PCGS submissions

0i812

I'm a new member (about a month). I have been spending a lot of time reading rather then writing or responding to threads in an effort to learn as much as possible. However a consistent subject seems to be PCGS'S really tough grading or inaccurate grading. I recently submitted 13 Gold Coins for grading and I'm starting to wonder if I did the right thing. I've never been a fan of slabs but after some recent bloodletting when I attempted to sell some coins I decided to at least stop the grading issue's at sell time. I'll post the returns when I get them. Yikes!!!!!! Mike

P.S...Is PCGS the 'COIN GRADING GOD" or is it just clever self promotion?

RYK

If your coins are generic uncs or better date gold coins, they will be more liquid in PCGS slabs and might fetch a bit more money when you go to sell them. Imagine the follwing two scenarios:

RAW:

You: It's a 64.
Buyer: It's a 58.
You: It's at least a 63.
Buyer: It's a 58
...

In PCGS slab:

You: It's a PCGS 64.
Buyer: I buy the coin, not the holder
...

(okay, you can't win 'em all, but you get the idea.

0i812

Outstanding illustration. I must say I didn't think of that scenario, but I've been there too! Thanks, Mike

clackamas

Were you good at grading prior to you submitting the coins? If you get hammered send them to NGC and if they agree then that is what the coin probably is (99.9%). On generic mid grade coins I don't think PCGS is being too tough. It is the upper grade material that people are complaining about. Coins that go from a $40 coin to $2000 coins get the prison inspection before leaving. They are also being harsh on copper because there is so much liability for them, they back everything witha buyback guarantee.

You may get slaughtered but if you do take a good look at the coin when you get them back and see what you may have missed. Even though you may not get the grades you think, it may be an incredibly valuable lessen that you can apply to future purchases. You can then take this knowledge and buy coins raw that WILL grade high and make a few bucks. Look at Marty, he use to be the AU58 king, now he rips it up and I think actually makes money even after spending $10K a month on grading fees