Question About Selling an 1892 Morgan Dollar in an Accugrade Slab
Tuckerbustdimes
Posts: 28 ✭✭✭
I recently got the coin collecting bug again after a 30 years hiatus. I found this coin in my safe deposit box where it has been sitting for 20+ years. I don't remember where I got it or how much I paid for it but I've decided to sell it and put the money towards a Bust Dime set I'm putting together. I am wondering what would be the best way to sell this coin. I've heard that Accugrade is notorious for overgrading, but honestly I don't see a scratch on this coin. I have some PCGS slabbed Morgans in MS65 that don't look nearly as nice as this one. Could the grade be correct? Should I sell it in the Accugrade slab? Are Accugrade slabs actually worth anything as a novelty these days? Or should I crack it out and submit it to PCGS for grading and hope that it comes back with a similar grade? Although it isn't apparent from the pictures, the toning is actually a very nice purplish color. Any thoughts or opinions would be greatly appreciated. Thanks!
Comments
WOW It looks like PL. I would send it in to PCGS and I bet you it would grade beautifully.
If selling is your goal, send the coin to Great Collections. At your request they will submit the coin to PCGS at a discounted rate.
Looks like Accugrade got this one right, but to get top money it will need to pay a visit to our host.
From the photos, it appears to be correctly graded. As mentioned, you'll likely get more for it in a modern TPG slab.
Almost all of the coins I've seen in Acg, NNC, Numistrust and other holders have been overgraded, I have seen many marginal Uncs. in their 63 or higher holders, many are cleaned etc.. The question is who sent it into them to get housed in their questionable holder? There was no good economic reason for that. I don't see a good reason for a crossover, I would crack it out and try PCGS a time or two, and maybe one of the other respectable services.
Slab collectors may pay a premium for that particular slab, especially if the coin is properly graded.
It will most likely be altered surfaces. There is no chance they got it right on a $5000 coin. I own a bunch of these holders and they are NEVER right on expensive coins. On common cheap coins, they were close once in a while.
You can toss it on eBay and see what happens. If you believe these holders are right, I have a couple of Peace Dollars graded MS-67 in these exact holders. I'll sell them to you at 1/10th list price and still make a ton of money!
There are definitely a few ACG collectors, who would pay a small premium for a common date coin in that plastic. It would be marked 65, we'd offer 63 money plus a few $.
Retail 63PL is $1,000, 64PL is $2,200 and 65PL $6,600.
On a high end coin, I think it's likely to be unsalable in that plastic for anything near 65 money. Most likely the buyer will be planning to crack and cross.
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It looks too good to be true. I agree that it was messed with somehow. Needs to go to better tpg for sure
Thank you for all of your comments, suggestions and advice. It seems to be almost unanimous that I should at least try another TPG. Wabbit2313 I think I'll pass on those Peace Dollars, but I appreciate the reality check.
First, I would ask for an informed opinion. Maybe a coin shop nearby? A collector you trust here?
Assuming a positive opinion I would crack it and submit raw. (Accugrade may be quaint and quirky but its grading reputation is so suspect I don't see any value in that slab.)
A PCGS straight grade is the goal. Anything worse is probably a wash.
Lance.
I think the consensus is that PCGS should grade the coin.
I'd be very careful to ensure it hasn't been cleaned or puttied before cracking. Show it to some experienced graders. If it looks honest to them, you'll have more to work with.
The suggestion above about Great collections selling (even slabbing it) is a solid idea.
Oh and GREAT COIN!!!
So you listen to your brain and distrust your eyes (or at least the photo). Logical.
Depending on your time schedule, you can always take it to the next coin show and have PCGS look at it in hand before taking any other action. I never bought an Accugrade holdered coin based upon the label grade, and I have found that so much of their "graded" product was misrepresented that I have zero trust in them. That being said, the photos look like a nice coin, but much is impossible to tell even in the largest most detailed photos.
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The coin looks very clean but something about it is unnatural to me. I agree that there is a good chance you get a details grade out of this one, so from that standpoint you’d get more money in the holder. However, I think it is best to have someone examine it in hand. A local coin shop may talk down the coin if they think you are selling it, so taking it to a show with unbiased graders would be best. If you did send it in, if it grades even 63 I think that’s a win.
It looks flat with no luster. I'd leave it alone and keep it !!!
Maybe if the underlying coin were a common $100 coin, but even this coin is actually only a 64PL, it's a $2000 coin, which is far beyond what someone is going to pay for just the holder. If in hand it looks like it will grade, then getting it graded by PCGS will be your best bet.
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Is the 'spot' on the end of Liberty's nose on the coin or the holder? The best route to take with this coin is to crack it and send it to PCGS.....On that coin and the apparent grade, the holder means nothing. Cheers, RickO
I am trusting my eye and my eye says altered surfaces.
Definitely needs to go to PCGS.
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I do this for a living, I buy and sell lots of oddball slabs, and I have never seen anyone pay a premium for anything in an Accugrade slab.
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I had a key date Half in one of those holders with a added Mint Mark once. I will never trust that grading service again, and I'm probably not the only one.
This.And good luck.
Is that rim damage above the S in pluibus? Has a corresponding rim problem on the reverse at the same spot.
bob
Why the seemingly current concern with RIM DAMAGE? CAC will overlook RIM DAMAGE with other factors being kosher.
In hand I usually end up deducting 3 points from the Accugrade labels once I glance at the coins.
Not sure if it's your photography or if the surfaces on this Morgan have been boinked?
I'm not sure what the reasoning was of the grader at Accugrade, not sure if they ever had any objective system with a couple or three graders to make a final determination on a grade. There is a reason that PCGS, NGC, Anacs and ICG have several graders, a finalizer, also a guarantee to back up their holder. Without those checks and balances you aren't going to have anything approaching objectivity. Also google the threads on Accugrade about ten or fifteen years ago where they had a lot of legal problems.
If the surfaces are original, that thing needs to be cracked out and sent to our host. STAT.
There typically is a reason it's not in PCGS, NGC or ANACS in my experience. Thought perhaps it didn't make the grade due to rim problems and thus this holder. Just a thought.
bob
Nice coin (I think).
There is a reason why people call them Accucrap slabs.
My advice is to get it into a slab that people trust (read that PCGS or NGC) and you will receive true value upon sale.
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The coin looks very nice. I am also somewhat worried about altered surfaces. I would be reluctant to bid high on a picture of this in an auction, but sight seen would possibly be a different story. I am not sure where you live, but a trip to a coin show or coin shop may give you more in-hand opinions before sending for grading.
The pictures scream altered surfaces to me. That's my take from the pictures which could obviously change in hand!
It's as good as a raw coin to most people in that holder.
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Totaly wondering if it's good and wanting to bid at or below AU level.
My only experience with ACG is with one of their small holders. Was ACG 65(would have been a $15k coin in that grade), came back PCGS 64($700-$800 coin).
Send it to PCGS.
Collector, occasional seller
I want to thank everyone here for your thoughtful comments and sincere advice. I wasn't expecting so many responses to my question and I appreciate them. I will crack this coin out and send it to PCGS since most of you agree that it isn't worth much more than a raw coin in the slab that it's in. I figure I have little to lose by cracking it out, but the upside of having it graded by PCGS is pretty high, should the coin come back with a grade anything close to the one Accugrade put on it, and of course with unaltered surfaces. After I have it graded I will post a picture here and let you know how I made out. It should be interesting anyway! Thanks again for all of your responses.
Cracking it out is a big risk,,,,,,, too much chance of this coin not straight grading,,,,,
Disagree. The accugrade slab is valueless and the upside with a good PCGS/NGC grade is high.
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All of my collection is in a safe deposit box!
Very interesting piece anyhow...thanks for showing.
CC
Disagree with your disagree, you can sell that coin for more in the slab graded than in a body bag with details.
I would crack, dip if needing one, send into PCGS for grading.