Opinions/advice please- crack out or crossover
uscoinguy
Posts: 150 ✭✭✭
PCGS has a free shipping special if 15 to 20 coins are submitted. I can drop the coins off at the Central States show so shipping would be free both ways. 8 coins with my voucher plus 7 at economy would cost me about $28 per coin (I would have to do 2 separate invoices). I am submitting better date AU53 and AU55 Morgan dollars. Retail per coin is about $200-$300. 2 ICG, 1 ANACS old small holder and 12 NGC. Most of my collection is already PCGS so I would like to get them in PCGS holders. Not looking to sell now but to me it is worth having them in PCGS holders for down the road- especially at this grading cost.
I can’t decide if I should crack them and take my chances or do the crossover with a one grade lower minimum grade. Of course with a crossover that would add another 5 dollars per coin for any coins that cross. I would be interested in any opinions or experiences you may have had when making this decision. Thank you in advance!
Comments
It all depends on the coins. If you're confident in your ability to grade, send them in raw. If you can't afford a bodybag or downgrades, cross them.
If you post some pictures, you may be able to get some insight from all of the knowledgeable collectors/dealers here.
We would need to see the coins. With that said, at that price level, grading fees eat up a not so trivial amount of the value of the coin. I personally would leave them alone or at least wait to see if there will be another crossover special. Grading is all over the place, and within the last few months I have had large grading interval swings on the same coin when resubmitted.
I've usually crossed in situations like this. Theory being, if they identify a coin they don't want to cross, you haven't lost anything, (except the submission fee). I go with "Cross at Any", but your idea of using a 1 or 2 step down as the minimum grade might be smarter.
It's the cautious way to go....But not as thrilling as skateboarding downhill.
I honestly think that the actual GRADING doesn't matter. They don't seem to me to be influenced by the other grading services grade, after that initial evaluation. That may be different at high MS grades, I don't know. But AU Morgans? They have their criteria, and what ICG or NGC did doesn't affect that....
As said above; posting pictures would be of great help.
There is not enough upside potential to justify the cost. Just leave them as they are. If you decide to sell in the future make the decision at that time. Things can change over time in the world of grading.
I always consider how much I would lose if it came back details or 1 grade lower before I crack out. Even though the odds are low, I feel a 2 point higher is more likely raw.
I am 50/50 on the crack out game...one came back cleaned, and came back with an upgrade. They were both higher end coins, just under $1000 each. I stick to crossing, if I like the coin and not the holder.
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Both recommendations and results have been at both ends of the spectrum over the years. Some recommend cracking, others crossing no more than one grade lower... You will see success stories and sob stories.... It all comes down to your goals and skills... Good luck, Cheers, RickO
Thanks for your responses Gentlemen! I just called PCGS and found out that I can't combine other coins with my voucher to get to the 15 for the free shipping special. So now I am back to square one. Good thing I called before I started cracking out any coins!
I have found them pretty objective in or out of the holder; I would not crack coins with any problems though unless they need an acetone dip.
Are you good at detecting altered surfaces or cleaning? If not, either hold off or cross. If you are, crack 'em when you can get a good deal (IMHO).
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Rightly or wrongly my perception is that you have two strikes against you for an upgrade or crossover in the same grade when you submit the coins in another company's holders. If you are a competent grader, you should crack the coins out for the regrade / reholder. Still be advised that nothing is perfect. You could get downgraded, even if you are correct in your perceptions.
Without pictures there is not much anyone can do for you here except give you broad advice. Grading standards have changed, and from what I see, not for the better unless you prefer inflated grades. What used to be AU is now Unc., sometimes even Choice Unc.
I am not sure my photos skills are good enough to assist from a grading standpoint. But this is a good example of what is so great about this forum. The average collector can receive a lot more varied opinions from knowledgeable, experienced coin collectors then they would normally ever have access to from just friends or a B/M shop. That is assuming they even have those options available to them. Based on all the feedback I made the decision it is not worth either choice based on coins at this price point (now I am not sure if there any safe price point- too much risk to reward). The bottom line is that these grade level Morgan dollars are not rare so I will just sell my non- PCGS coins on my eBay store and purchase the coins I need already in a PCGS holder. Thanks again to everyone who shared their thoughts!
Good luck whichever way you go.
I've never had a small ANACS cross at the same grade (all lower or won't cross at all).
NGC should be fine to crossover and ICG is no better than 50/50 in my experience.
If you are confident about all of them straight grading then crack and take your chances. Some might just upgrade and you'll do fine.
bob