Submission Conundrum
TommyType
Posts: 4,586 ✭✭✭✭✭
I thought I’d seen all of the “what should I do” submission questions...but I ran into one that I haven’t seen before:
The Scenario:
- I have an MS-64 Walker, common date, in a first generation holder. The holder is trashed, and regrettably the coin needs to be reholdered. (Accept this as fact).
- The coin may, or may not, have a shot at 65, (I’m on the fence, and think it’s 50/50. But I’m quite sure it won’t downgrade to 63, or get body bagged). The value upgrade is, frankly, not the primary motivation, (See bullet 1), but would be about $50 based on PCGS price guide.
- The RIGHT way to handle it would have been to hand deliver the coin to PCGS at Long Beach, pay my $12 + $10 handling, and walk away at the end of show in a new holder at the (relatively) low, low cost of $22. Unfortunately, I didn’t do that....and my Collector’s Club membership runs out before the next Long Beach....and I don’t have a need to renew.
- Now, to finish up the business I intended to do with my one year CC membership, I want to send the coin with a small raw submission this week.
Options:
A. Put the coin as a “reholder” on a separate submission form. Cost will be $12 reholder, $10 Handling Fee, and $21.95 return shipping(!) (My understanding is that each submission form is returned separately, and charged separate shipping). Total: $43.95 Ouch.
B. Crack the coin, and include it raw with the rest of the submission. Cost will be $20 Economy Grading, no additional handling fee, and MAYBE an $8 increase in return shipping if the value happens to put me into the next shipping bucket, (though I don’t think it will). Advantage: The potential for upgrade exists. Disadvantage: Though I don’t believe it will happen, it could downgrade, or fail to certify. Plus, there is the slim risk of damage in cracking it out. Total cost: $20 or $28.
C. Submit for Regrade. Cost $20, new submission form so $10 handling, $21.95 shipping....yeah, this is too expensive...forget this option.
D. Just say the heck with it....leave it in the old holder. Nobody cares about MS-64 Walkers anyway. Buy a fresh MS-65, and forget about it. Disadvantage: The current coin becomes difficult to liquidate, even at a discount(?)
I’m on the fence between B. and D.....But I’m leaning toward breaking my cherry as a crackout artist, and taking my chances raw. An upgrade COULD pay for the whole endeavor, and at least it will provide me with some entertainment and schooling in Walker Grading.
(Opinions aren’t REALLY required: It’s a $$ question more than anything else. I just thought it was an interesting application of the PCGS pricing schedule, and the need to think things through!)
Comments
E. Give it away as a gift or present, and feel good about doing so.
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Guess that's an option! Call it a subset of D.....D-1.
D-2: Crack it, and put it in my Dansco 7070. (Not sure what's there now, but it ain't an MS coin I'm sure.)
B. would be my choice.
I assume the holder is cracked or broken. If not, even the worst scratches or surface damage from something like acetone can be repaired nicely. Both Bryce and bolivarshagnasty have shown us horribly abused slabs (e.g., scraped across the sidewalk) resurfaced with sandpaper into like-new condition. Maybe someone can find the threads.
Lance.
I'd crack it. I wouldn't see the risk of not holdering as a real great risk.
If you like the coin that much, just crack it out and submit it raw then move on with your life. I think that maybe you think too much.
Engineers do that. It's what we're paid for.
I have pretty much determined the cost/benefit curve says crack it.....though it's a tight race with "walk away from it".
What date?
Common date; common condition. Keep it, or donate it and deduct the FMV from your taxes.
1940
You pretty much described about 90% of my collection.
Sells for $60 in 64 and $85 in 65 on eBay. If it is a lock 65, you are better off sending it raw with other coins.
The potential for upgrading it is worth the try, but send the label back to NGC for logistical reasons.
``https://ebay.us/m/KxolR5
I would just take it to the next big show and have it done for 12 bucks.
But, it would cost me $69(?) to renew my submission rights!!! That's not cost efficient....
Naw...In the end, a measly $20 for a raw submission, just to "clean house", seems like the simplest solution.
Guess the bottom line is that those shipping fees are a killer when it comes to cost efficiency....
Sorry....I forgot that part. You need to have someone send it in for you with others to make it cost efficient.
Either 'B'..or... donate it to me... I will pay shipping - that way, the entire issue goes away, you sleep better, I get a nice Walker...
Cheers, RickO
Please do keep us posted as to the results. Yes you have my curiosity up there now.
I wish you all the best of luck.
Here's the fix-a-slab thread:
https://forums.collectors.com/discussion/947337/restoring-scratched-slabs-version-2-0-new-improved
B is my choice - crack / submit as raw.