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Specific Reconsideration Question on DMPL Morgan
hutze1nm
Posts: 235 ✭✭✭
Example - I own a 1884-CC MS63DMPL in an OGH (likely a MS64PL by todays standards)
Send for Reconsideration
PCGS Determines it is a MS64 but since it's likely a PL would that then downgrade? Or does that stay intact if I don't ask for suffix Reconsideration?
Thanks in advance, I know there have been many many threads but not with this specifically that I could find.
Things I like to do: Collect PL Morgans. That’s is all.
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I would be interested to know as well since I have wondered the same thing!
Good question. It is all one grade and should be considered holistically and then the price adjusted accordingly. Not rare so they should be able to figure it out.
11.5$ Southern Dollars, The little “Big Easy” set
Based on my experience, it tough to get a bump in grade on either a reconsideration or cross over since their looking at the coin through plastic unless it's really obvious that the coin is under graded by today's standards. It would probably not get the bump in grade if it's doesn't also have deep mirrors.
If you send it in for re-grading in the holder, it's unlikely to get the grade bump if the coin also doesn't look DMPL by today's standard. So you would be out the grading fee and just get the coin back as the same grade in a new holder.
If you send it in under the 'grade guarantee' you might get them to downgrade from 63 DMPL to 63 PL and pay you the difference in value, but you take the risk that they just say the grade is fine and then you would be out the $25 fee. The difference in value is not based on PCGS price guide, but on recent auction results. I suppose it's possible they return it in a 64PL holder and then the value is pretty close to a 63 DMPL so you would just be out the $25 fee.
IMO from a purely financial standpoint since were looking at $300+ coin, If you really want a nice looking DMPL, buy another coin and sell the current one.
I thought PCGS had a "designation" review. Do they not have that any more?
They do have that as an option when using the reconsideration service.
But that is for when you are trying to get an upgrade in designation.
But if want to get a 'downgrade' in designation, then you have to use the 'grade guarantee' service.
I agree with 10000lakes.
The only clarification I would add is that if a coin is downgraded (and it can happen with almost any service) PCGS uses wholesale pricing in determining the payout. I.e., what a dealer would pay. (Edited to say auction prices are certainly examined.)
Lance.
How about this: Enjoy the coin as it is and use the "extra" cash toward a new purchase, or maybe take the wife to dinner at someplace that doesn't serve wine from a box....?
Money is no object here, it’s more about the trophy you get back if you’re right. I do crackouts instead of gambling so losing money isn’t something to be fretted over just like gambling.
The possibilities have already been stated... In this case, IMO, it is really a gamble... and members here seem to take that gamble frequently. You win some, you lose some... some get rained out.... Let us know what you do and the results... Cheers, RickO