Crack Out game: How much $$$ upside do you need to submit a coin?
unclebob
Posts: 433 ✭✭✭
What is your thought process?
How much upside do you need?
$100?
$300?
$500?
$1000?
0
Comments
$200 is worth it.
Enough to pay for the new slab, mailing, fees and to make a few bucks.
Depends partially on how likely the coin is to upgrade. I like a good 30%+ minimum if I'm cracking.
In today's world of grading it's a lot more complicated on when it makes sense to go for an upgrade.
I have been tracking some of the coins I sold in the last year and have seen them show up later in a higher grade.
Older holder with CAC vs a new holder with a higher grade and not CAC.
sold for $1552 ($1411 hammer) as a 64 CAC, and resold for $1705 ($1550 hammer) as a 65 non CAC
sold for $638 ($580 hammer) as a 65 CAC, and resold for $735 ($669 hammer) as a 66 non CAC
Or even if the coin is in a new holder, better make sure the upgrade is worth the effort.
They needed this one to 65 to make a decent gain.
sold for $311 ($283 hammer) as a 64 CAC, and resold for $248 ($226 hammer) as a 64+ non CAC
To be honest I've seen a few other coins I sold get the upgrade and even CAC at the higher grade and I left a lot of money on the table.
The take away is that if you have an existing coin that is CAC'd or you believe would CAC if it was submitted, you should make sure that if the coin upgrades that the value of the new grade is much higher than the old grade especially if it doesn't CAC at the new grade.
Ah the complexities of the grading/crackout game....
.... I have no doubt that there is profit to be made, and, as usual, investment and risk accompanies the effort. Cheers, RickO
It depends on the coin and what I think the coin has a chance of grading as. I look for a $150+ return to make it worth my time.
If it is for one of my sets, I'd want a minimum of a 1 point bump and if im not strongly convinced it will get it, I'll either sell it or send it to CAC.
Made $139 and $89 gain. Lost $57 on the third. Total net is gain of $171. Three PCGS grading costs and shipping are likely about $150, assuming CAC was not tried again. All of that work (and risk) for a gain of $21, not counting the personal time and effort.
I don't think you left a whole lot of money on the table.
I just submit and flip like cheese on a burger. If there's no added value the first time, I see no reason to waste any more time.
Sometimes it's not worth submitting, as in this case:
Bought for under twenty bucks. Sold for under thirty bucks and the feedback "Beautiful Morgan" was sufficient enough for everyone.
But is it worth submitting ? The answer is "YES", to some. And to most, we think.... " Why ? " Ask Keets.
Why what ?
The upside is protection and a fun game (registry, etc., ) The challenges are many.
``https://ebay.us/m/KxolR5
I also had this one sell for $660 as a 66 CAC and show up later as a 67+ CAC selling once @ $3600 and later at $2600.
Or this one selling at $1713 as a 65PL CAC and showing up later in 66PL CAC offered at over $3000 and I assume sold.