Upgrades and quick flips
mercurydimeguy
Posts: 4,625 ✭✭✭✭
Several coins I've tracked going back to last Fall have been cracked and upgraded. I've posted a few here in the past month or so, here's another one (no need to post everyone, I'm only posting the interesting ones).
http://www.invaluable.com/auction-lot/1869-20.00-gold,-ngc-au-58-rare-population-of-195-c-bd0435a96b
I can honestly say I've not seen a 6 month (rolling) time frame like this in a long time...are there just that many undergraded coins suddenly coming to market?
PS. The quick flips don't always work out for the seller, I just bought a coin in an AU50 holder that in December sold in an XF45. I paid $70 less for it in an AU50 holder than the buyer paid in an XF45 holder ... and I didn't have to pay any grading fees 
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There seems to be a tremendous amount of regrading going on... I base this on the amount of threads here discussing this lately. Surprisingly, many, many coins are upgrading as well.... Interesting times... Cheers, RickO
If this trend is large and reflective of widespread practices, expect a sharp market correction as the certified populations explode.
I can vouch for that word-- I'm constantly cracking out coins. I have a graveyard of slab labels taped on my desk as a testament to that! lol
For sure those coins are the same in the OP? That would also be quite a quick turnaround for buying/shipping from Silver City, getting them to PCGS, getting them back, and listed on eBay. (Unless it was show graded.)
While apparently an upgrade for that 1869 $20 going from AU58 to MS60, it's possibly a value downgrade. The 60 holder doesn't often get much appeal in today's market. The 58 can complete in circ/every man sets. MS60 is sort of considered a "train wreck" grade....while AU58 is the "bomb." And having been in an old fatty NGC hologram holder, I'd have preferred that, especially with a sticker. So many choices in today's market.
100% sure... I was the underbidder on that coin
Believe me, I've kept track of a lot of coins...it's enough to see a trend (at least in what I collect anyway, mostly 1869 coins).