What is the maximum number of times you have submitted a single coin to a TPG?
DeusExMachina
Posts: 1,325 ✭
I just received one back with an undesirable outcome. I am wondering how many more times (if at all) I should pay the freight.
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President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
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<< <i>I lost count, but my 50-D Frankie went in at least half a dozen times before PCGS got it right. >>
Your Favorite TPG™: "Where we get it right the first time...or the next time...or the sixth time...."
Zero. I spend my coin money on coins, not grading opinions.
Liberty: Parent of Science & Industry
<< <i>What is the maximum number of times you have submitted a single coin to a TPG
Zero. I spend my coin money on coins, not grading opinions. >>
Excellent point. I was asking myself, how much money should I blow on this one coin?
And if I were to run a TPG, I think I would like to see more BBs than slabs.
Ha, I'm KIDDING!!!!!!!!!!!!!!!!!!
Russ, NCNE
Ed. S.
(EJS)
Pictures here. Yes, it's all the same coin.
<< <i>Four times, as an experiment. I took a coin that I bought in a PCI slab, and ran it through ICG, PCGS, ANACS, and NCS/NGC (NCS did a scrub job on it before NGC got it slabbed).
Pictures here. Yes, it's all the same coin. >>
That is a great experiment Flamingo!
<< <i>Four times, as an experiment. I took a coin that I bought in a PCI slab, and ran it through ICG, PCGS, ANACS, and NCS/NGC (NCS did a scrub job on it before NGC got it slabbed).
Pictures here. Yes, it's all the same coin. >>
On a $6.00 coin ????
<< <i>On a $6.00 coin ???? >>
Obviously you've missed the point of the experiment.
take the value of the current grade and subtract it from the value of the next grade up. example
MS64 3200
MS63 1700
so now the difference is 1500
if the submission fee is say 30 bucks that allows for 50 submissions.
Thats means that if you feel you will get an upgrade in the next 50 times then you should continue( of course you might consider the value of your time and effort too). That's only a 2% chance each time. Like most dealers have already determined, sooner or later some grader makes a mistake.
Also, this is fine for raw coins, the problem with slabbed coins is that most all have already reached their highest possible grade and in many cases that means they are already overgraded.
David
I think 3 times is tops for me. My 83-d Lincoln did upgrade on the third try, and my 97 Lincoln came back with spots on it on the third try. That sure stunk.
<< <i>What is the maximum number of times you have submitted a single coin to a TPG
Zero. I spend my coin money on coins, not grading opinions. >>
Same here.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>
<< <i>On a $6.00 coin ???? >>
Obviously you've missed the point of the experiment. >>
Yes I did (do) ??
No. Stories about resubmissions all suck. I'd rather just buy and sell coins.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
And if you tried 3 or 4 times and only once did it come back "your" grade, chances are that the TPG's got it
right most of the time. They just messed up the last time. It's one thing to get the "score" grade. It's
entirely different as to what the actual grade of the coin is....and often the plastic surrounding it is not the
answer.
roadrunner
Got frustrated and just sold the coin to a major well known dollar dealer and saw the coin about a year later pictured in a major auction catalog in a PCGS MS67 holder.
<< <i>A pretty toned 1882-CC Morgan I bought in a PCGS MS65 holder I resubmitted twice thinking the coin was undergraded and a lock MS66, and both times it came back a MS65.
Got frustrated and just sold the coin to a major well known dollar dealer and saw the coin about a year later pictured in a major auction catalog in a PCGS MS67 holder. >>
Funny how that works!!!
<< <i>
<< <i>
<< <i>On a $6.00 coin ???? >>
Obviously you've missed the point of the experiment. >>
Yes I did (do) ?? >>
The goal was to put together my own baseline on how the various grading services worked. We rant on and on here and elsewhere about which services over and undergrade, but no one puts together any real evidence of such -- it's all anecdotal. My resubmitted coin was to establish *one* datapoint. At the time I did it I had hoped I would inspire others to do the same experiment, at which point we could collate the results and come up with some real data, but that didn't happen. Coinworld did do a similar experiment later, but it was flawed in several respects.
As to why use a $6.00 coin, why not? For the purposes of the experiment, the value of the coin was irrelevant. Indeed, a cheaper coin possibly works better because there is less incentive to jump a grade to make a windfall. The Washington half only really gets pricy in a PCGS MS69 holder, and I knew that coin wouldn't go there. Also, it's my all-time favorite coin design, and rather my signature coin, so it was a natural.
much more informative if you would have sent it to NGC in the same raw condition first, then NCS'd it, and re-submitted to all the TPG's after cleaning it up. Furthermore, I believe that a more valuable/slider would be a better example of how
a grade bump can affect the "value" of a coin. I think you would find that it is much harder to get a bump up to the
next level(s) when the resale "value" jumps two or three fold with an increase of 1 point in the grade.
This is a very difficult experiment to run without running into "many flaws", as Coin World found out. I suspect that
if you ran the exact same experiment (whatever it is) each year, you would get even more varied results, as the TPG's
"attitudes" change.
As for choosing your favorite design, I certainly can't argue with THAT reasoning!!
<< <i>Four times, as an experiment. I took a coin that I bought in a PCI slab, and ran it through ICG, PCGS, ANACS, and NCS/NGC (NCS did a scrub job on it before NGC got it slabbed).
Pictures here. Yes, it's all the same coin. >>
Flaminio, that is an interesting experiment. I guess PCI was a little aggressive.
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Box of 20
Good thinking.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.