Should I take a gamble on this $10 Eagle, wait for the TPGs to loosen up again, and then flip it for

Longacre

I was taking a look at a particular website, and this coin caught my eye. Even more enticing is the description. There is a clear difference between what the coin was purchased at, and its current price. What is holding this coin back, however, is that the TPGs are being VERY conservative of late, and not making any new coins or giving coins the benefit of the doubt. Of course, as market conditions change, and as The Street starts to clamor for a higher EPS for an upcoming quarter, the standards will loosen again and this coin will be a lock 63.

Does anyone think that I should purchase it, hold it for a few weeks until the grading loosens, and then resubmit for a 63, and then pocket the Obscene Profit™? What should I do? Here is the coin in question as described on the website:

1892-O $10.00 PCGS MS-62 PQ $2,450
As you can tell from the population figures at PCGS and NGC, the 1892-O eagle is a pretty available coin in MS62 but it is essentially unknown in MS63. Having owned about fifty of the slabbed MS62’s of this date, I can tell you that the present example sure seems like an MS63 to me. In fact, if PCGS and NGC weren’t grading tightly right now, this coin could easily have been in an MS63 holder. It is less abraded than usual with great luster and vibrancy. A very faint obverse grease stain across the portrait is probably what’s keeping this piece from being an MS63 but I personally can’t imagine a nicer coin for the grade. Take a look at the pedigree below and see what I paid for this coin. Ouch!
From the Stack’s 1/07 sale, Lot 5270, where it brought $4,370 (as an MS62) and earlier from the Morgan Collection.

SilverEagles92

I don't think it'll make 63. Looks like a 62 coin IMO.

storm888

It is worth the gamble.

Downside is fairly small.

fc

i think it is a 62 but i am talking about half eagles in general.
maybe the O mint gets a break like D and C.
those two marks on liberty's cheek is a real problem for a 63.
way to distracting. 62 seems to fit the coin nicely.

but i do see your point. lots of luster on that coin when you
look closely.. but heck, we all know the obverse is the money side.

the digs ruin its shot for 63 in my opinion

mercurydimeguy

There's a reason why 63's are non existent

If grading was relative (e.g. grade of the coin on a 70 point scale versus the same coins that have already been graded), then perhaps this super PQ 62 -- for the date/mintmark -- would indeed be a 63 (e.g. the logic that this specific coin is better than the 50 other MS62's).

But I don't know if the theory of relativity is practiced by the TPG's?

/mdg

ColonialCoinUnion

You mean this coin?

RYK

If DW could not get the upgrade and bailed, there is no reason to think that you will. Trying to figure out why/why not based on the photos is ludicrous. If you want to own a high-end MS-62, buy it. If not, pass.

PS It looks nicer on the auction photo.

antonyfire

<< <i>PS It looks nicer on the auction photo. >>



They look like different coins to me. I can't find one "mark" that matches on either.

Maybe the way the lighting was used for the pics?

-af

topstuf

I would also say different coins.

fc

different coins. i will be flabbergasted if they are the same.
i also think they are in the same grade range of 62.

WTCG

Buy the coin if you like it, but based on the pictures I doubt if the coin would make a higher grade.

darktone

If you could view this coin person and its as good as think try it but I suspect it won't look as good in person.

BECOKA

I would have to see it in hand, that photo may be hiding a bunch of chatter.

mhammerman

Kinda gnarley (sp?) for a 63...a good 62 though, even if the tpg's do have a moment of weakness. Same coin but the top photo is more complimentary (and smaller).

CoinRaritiesOnline

Those are 2 completely different coins.