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MS stuck in an AU holder?
JoeLewis
Posts: 1,911 ✭✭✭✭
How often do you think a TPG grades a "true MS coin" incorrectly as an AU58 coin? We've all heard of the "AU coin in an MS holder" problem, but how about the opposite? Does it happen often?
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
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<< <i>A buddy of mine bumped an 1884-S Morgan from PCGS AU58 to PCGS MS62 (and it deserved the 62) >>
Wow. I should be more alert for these!
But at that grade range, there is usually little incentive to crack and/or regrade except on the big ticket coins, as the difference in price between is not always great enough to warrant. Killer sliders (58's) often go for 60+ money anyway, and plastic 62's that are really 58's often go begging at the raised price.
I have personally turned several 58's into 63's and two into 64's (but most were not really 58's in the first place). However, much of that was some years ago.
Lately, most of the 58's I see look like the 55's of ten years ago ... and many of the same 58's are now in 62/3 plastic.
So to answer your question ... I think it is less likely today than it was ten years ago ... but it still happens.
Don't ya just love market grading, and the sometimes reversion to technical principle?
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>A friend of mine bought an 1895 Morgan in PCGS PR58. He cracked it, dipped it, and it came back PCGS PR63. >>
You forgot the part about CHACHING!
<< <i>With solid AU58 to MS61/2/3 coins, it happens both ways. Let's face it, the difference between a solid AU58 and say a 62 coin is miniscule, sometimes favoring the 58 in terms of appeal.
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That's mainly true with gold. With silver there is usually a pretty definitive line between AU58 and the MS grades. I can't make a comment about copper.
I respectfully disagree with that comment. Maybe later date (post 1950) designs, but certainly not 19th and 20th Century Classics (IMO).
Show me 20 various silver coins in 62 and I'll show why at least 1/3 would grade 58 on another day (and that's a low guess).
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>A friend of mine bought an 1895 Morgan in PCGS PR58. He cracked it, dipped it, and it came back PCGS PR63. >>
Yes. This is not at all unusual. They have always rewarded dipping coins. Why do you think coins with original surfaces are getting rarer and rarer?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>A buddy of mine bumped an 1884-S Morgan from PCGS AU58 to PCGS MS62 (and it deserved the 62) >>
I'm not surprised at all, because I believe that up to 50% of the 1884-S Morgans that PCGS grades AU58 are really MS.
The reason they do this is because they dont want to be liable if they grade it MS and someone sends it back for a regrade, and they regrade it AU58, then PCGS has to pay alot of money.
The dolphins are a little more subdued than the rest of the coin which may account for the grade, however most 63s I encounter are not as appealing as this coin is to me.
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<< <i>A friend of mine bought an 1895 Morgan in PCGS PR58. He cracked it, dipped it, and it came back PCGS PR63. >>
dipping isn't just for breakfast anymore!
<< <i>I occasionally see US Indian & some Liberty gold pieces that are MS61 & 62's in NGC AU58's.. >>
I have an 1909-D $10 Indian that I bought in an NGC MS62 holder. When I sent it to PCGS they graded it AU58, twice. I can say for certain that this coin has never been in circulation. This coin has flawless stars on the edge which I don't think could be possible on a coin that was in circulation for even 10 minutes.