Upgrading old PCGS coins?

MMagidson

I have several old PCGS MS-64 morgans--probably initially graded about 20 years ago. In going through them the other night, I noticed several that were very good for the grade. I know you see on ebay lots of sellers claiming "older holders, upgrade potential" and what-not. Anyone have real experience with this? What kind of success rates, etc.? Also, any thoughts on how the grading standards have changed?

Russ

Most of the early graded material has already been picked over and cherried for the upgrades, leaving few opportunities. That said, since you have the coins in-hand, what do you think?

Russ, NCNE

PQMorgans

It goes both ways. I cracked out had a $20 Saint and got a upgrade from 63 to 64. Then in the same submission I had a ms65 CC Morgan (looked 66 in the holder) downgrade from 65 to 64. I resubmitted it 3 times and it is still a 64 holder. A lesson learned for me.

If you want to submit I would not crack out but submit in the old holder.

The only drawback is it will come back in a new holder with a blue label. That same coin in the same grade is worth a bit more in the old holder as some collectors buy the old holders at a premium for the holder, and some buy them to crack out.

ziggy29

If they've been through the market a few times in the last 20 years, chances are the coin is maxxed out. If it has been in a collection for 20 years and is just now seeing the light of day, it could be an upgrade candidate.

MMagidson

Thanks for the input guys. I have at least a dozen Morgans in the old holders I bought more than 20 years ago. The couple I have at my house look very good for 64s, so maybe I'll resend them. They're old enough that I have to go to my parents for the rest--so maybe this summer I'll get them.

Does the potential for upgrade apply to higher grades as well? I know I have at least one MS66 Morgan that I initially bought as a 67 (back in the pre-PCGS days).

Matt

SeattleSlammer

If they're common date 64s, there isn't much of a price bump going to 65 so why not keep them in their old green label holders? That way, they'll always look PQ instead of MAXED OUT.