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PCGS Grades for 10 Pre '33 Gold Crossovers

bcinokbcinok Posts: 29 ✭
in U.S. Coin Forum
10 American Gold coins were purchased from Ebay and sent to PCGS for crossover grading. The results were as follows:



1 10651432 1910 $2 1/2 USA DNC ICG AU55 any grade crossover
2 10651433 1880 $5 USA AU55 ICG AU55
3 10651434 1881-S $5 USA DNC NNC MS60 PL any grade crossover
4 10651435 1909-D $5 USA AU55 ANACS AU58
5 10651436 1909-D $5 USA AU58 PCI MS60
6 10651437 1910-S $10 USA AU53 ANACS AU53
7 10651438 1911 $10 USA DNC NNC MS64 Min Cross MS61
8 10651439 1926 $10 USA AU58 ANACS MS61
9 10651440 1932 $10 USA MS62 SGS MS64
10 10651441 1904 $20 USA MS62 WMP Rare Coins MS63

2 of the 10 coins would not cross at any grade. 1 of 10 coins would not cross at the min. specified grade.

20% of the coins submitted crossed with no change in grade. (1 ICG and 1 ANACS)

20% of the coins would not cross at any grade. (1 ICG and 1 NNC)

50% were crossed with a reduction in grade of 1-3 points. (2 ANACS, 1 PCI, 1 SGS, 1 WMP)

10% would not cross at a reduction in grade of 3 points. (1 NNC)

While this isn't a scientific study it does provide some interesting information about these types of coins. There are good coins in 3rd party holders and there are bad coins in 3rd party holders and buying the sight unseen is not without risk.









Comments

  • Steve27Steve27 Posts: 13,274 ✭✭✭
    "While this isn't a scientific study it does provide some interesting information about these types of coins. There are good coins in 3rd party holders and there are bad coins in 3rd party holders and buying the sight unseen is not without risk. "

    It would have been a better study if you cracked them out and then submitted them.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • TheRavenTheRaven Posts: 4,143 ✭✭✭✭
    That is why I purchase PCGS graded coins to start with.....

    Also don't mess with EBAY, I up till this point have seen everything I purchased in hand.....
    Collection under construction: VG Barber Quarters & Halves
  • mercurydimeguymercurydimeguy Posts: 4,625 ✭✭✭✭


    << <i>It would have been a better study if you cracked them out and then submitted them. >>


    Echo that, and in fact the originally posted study demonstrates data around holder-to-holder submissions.

    Now if all the DNC's were cracked out and then resumbitted, the original poster might be fascinated with the results -- some coins would undoubtedly bag while others would grade, and even some might grade higher than their previously assigned grade.

    Grading is merely someone's opinion at a specific point in time, and doesn't mean that their given grade is absolute.

    << That is why I purchase PCGS graded coins to start with>>

    Hate to burst your bubble but statistically the results would be no different than PCGS graded coins if you were to crack them out and send them in raw.

  • bcinokbcinok Posts: 29 ✭


    << <i>That is why I purchase PCGS graded coins to start with.....

    Also don't mess with EBAY, I up till this point have seen everything I purchased in hand..... >>



    That is a good method to use if you are collecting and want to be sure you are getting what you pay for. I, on the other hand, want to buy something for less than its true value and am willing to take some risk in my purchases. If I were to limit myself to only those coins I could "see" in person, I would be missing out on a lot of coins. Ebay is just a method to put buyers and sellers together.

  • bcinokbcinok Posts: 29 ✭


    << <i>

    << <i>It would have been a better study if you cracked them out and then submitted them. >>


    Echo that, and in fact the originally posted study demonstrates data around holder-to-holder submissions.

    Now if all the DNC's were cracked out and then resumbitted, the original poster might be fascinated with the results -- some coins would undoubtedly bag while others would grade, and even some might grade higher than their previously assigned grade.


    I assume that I will get some explanation of the DNC's when I get the coins back. Depending upon the comments I will probably crack them out and send them back raw, just to see what happens.

    I have a 9 coin submission of Raw coins from Ebay, 7 gold and 2 Morgans, but they were sent in as the free type, so it will be awhile before I get those grades back and they should be pretty interesting.
  • GATGAT Posts: 3,146 ✭
    You are pretty much guaranteed to lose your shirt purchasing raw gold on eBay. It's one of the most dangerous things you can do. The same goes for most 3rd world slabs. There are no coin Santa Clauses.
    USAF vet 1951-59
  • bcinokbcinok Posts: 29 ✭


    << <i>You are pretty much guaranteed to lose your shirt purchasing raw gold on eBay. It's one of the most dangerous things you can do. The same goes for most 3rd world slabs. There are no coin Santa Clauses. >>



    Thats what I keep hearing, but its not always true.

    The 1932 $10 Indian coin is now worth twice what I paid for it after being downgraded to MS62 and it is now in a PCGS holder.







  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>There are good coins in 3rd party holders and there are bad coins in 3rd party holders and buying the sight unseen is not without risk. >>

    I would change the above to read:There are good coins in 3rd party holders and there are bad coins in 3rd party holders. There are also good coins in 1'st party holders and bad coins in 1st party holders. Buying sight unseen is not without great risk.image



    << <i>I assume that I will get some explanation of the DNC's when I get the coins back. >>

    You might not get any explanation at all. Even if you do, it will be extremely brief, as in "cleaned" "altered surfaces", etc.
  • TheRavenTheRaven Posts: 4,143 ✭✭✭✭
    In my opinion the risk of raw gold is way to high for me to consider purchasing such items..... I feel I am a good grader, but authenticity is a harder nut to crack.... the price difference between a grades on those $10 Indians is so big, lots of risk there.....

    If you enjoy ebay use it, I choose to not use it.... Being on this board for awhile and hearing all the horror stories and seeing all the con artests that populate it, no thanks.....
    Collection under construction: VG Barber Quarters & Halves
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I'm sure it helped just a little that the $10 Indian doubled in price in MS62 over the past 6 months. Imagine if just the opposite happened: you got your MS62 but the PCGS price dropped in half while you were crossing it? Advantages of a rising market under heavy promotion.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • bcinokbcinok Posts: 29 ✭


    << <i>I'm sure it helped just a little that the $10 Indian doubled in price in MS62 over the past 6 months. Imagine if just the opposite happened: you got your MS62 but the PCGS price dropped in half while you were crossing it? Advantages of a rising market under heavy promotion.

    roadrunner >>



    Said coin was purchased on 3/26/06 which is less than 2 months ago. I believe the coin contains approx. 1/2 oz. of gold, so its scrap value is about $ 345.00 regardless of its grade at current gold prices. $345.00 is more than 1/2 the price I paid for the coin to begin with.

    So to answer your question, if the PCGS price dropped in 1/2 and they were selling for $525 apiece, I would have lost $60.

    Oh yeah, and the $30 I paid to have it graded, for a grand total of $90.00

    If I were worried about losing $90, I wouldn't be buying coins on Ebay.

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