New Poster and Grading Lessons Learned
JGRC
Posts: 33 ✭✭✭
I am a new poster here. I have been a part-time wholesale coin dealer since 1984, with a long break after the 1989/1990 market crash. I am now a full-time dealer after returning to the market in 2007. Rainbow toned coins, like the quarter posted in last picture, are the reason I came back.
I was reviewing some of my past grading results and just located a quarter that I had made in Coinsfacts that someone else had updgraded with a new, higher grade.
I think one the best of the best ways to make money in coins is to select the grading service that will assign a grade to a coin that will bring the highest, current market value. This requires expert knowledge of how both PCGS and NGC are grading coins at the time you submit them. I was the initial submitter of all the following coins 2 to 6 years ago. I was not happy with the initial grade, or the current value in the holder, so I submitted them to the other grading service. The coins were all sold within 6 months of being graded. The value stated is what similar coins sold for during the time frame that I sold them.
1962
PCGS MS66RD value 230.00
NGC MS66RD value 32.00
I crossed more than 40 of these in 2014
1941
PCGS MS66RD value 32.00
NGC MS67RD value 140.00
1944
PCGS MS66RD value 30.00
NGC MS67RD value 125.00
1958-D
PCGS MS66RD value 28.00
NGC MS67RD value 115.00
1959-D
PCGS MS66RD value 30.00
NGC MS67RD value 125.00
This was one of my favorite coins when I started back into coins. I think I sold it too quick.
1948-S
NGC MS66 Star value Ebay auction 575.00 (oops)
PCGS MS67+ value Heritiage auction 7,600.00
Comments
Interesting and welcome to the forum
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Some nice coins there. Many of us do not have the eye to allow us to make money doing such. We'd lose out too many times and that would eat any profit on the one or two that made it!!
bob
Welcome and Welcome back to rekindle your past in this hobby
I wondered how long has it been since you sold it 'till the discovery of the upgraded PCGS 1948-S ?
i made the coin in Jan 2010 and discovered the upgrade 2 days ago. I sold all of my "keeper" coins to buy my bride a new car.
The sequence would be repeated again I am sure of and there you are in many ways better equipped to max the future potential.
You have the mean as well as the time to wait it out for the next one ........ but new wifie could not wait for a new car so BRAVO you did good
My YouTube Channel
More power to you.... It is great to see these coins and interesting to see the grades and price variations, but I don't ever see myself playing in that league.
I am glad to know the "game" it is working out for someone.
Welcome! Your statement above is ... well ... obvious. Of course, if you want to make more money, you use the grading service that will result in the highest market value. The trick is ... how to determine which grading company and under what circumstance. Most folks here default to PCGS as the 'premier' grading company and in the areas I collect, that is the case. But there may be areas in which others (e.g. NGC, ANACS, ICG) are a better choice for market acceptability and realized value.
I am not trying to beat you up as I bet you meant something less obvious by your statement. It sounds as if you have more than a novice understanding of grading and sharing your thoughts would bring value to the discussion.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Welcome! That '48-S 25c is fantastic!
Yup. Happens. I tried to upgrade a particular coin three times to get a plus. I sold it to a dealer here and within two weeks saw it on their website a full point higher. If that sort of thing drives you crazy do what I did and stop looking.
These were some of the earlier coins I graded when I returned to coins. I learned to grade lincolns by sending in nice coins and studying the results. I am a much better grader now and am still learning from each submission.
The 1948-S quarter was graded before plus grades were assigned. I thought an NGC star would bring the most money at the time. The coin has some small contact marks on the cheek and the reverse is not attractive. I thought the value of the coin was from the color, much like Morgan dollars, and a higher grade would not make that much of a difference. Now, I think PCGS rewards coins with great color by bumping the grade or adding a plus. I am seeing Jefferson nickels with great toning receiving MS67+ and MS68 grades with values greatly exceeding MS67 coins. In the future, I will send coins with great toning to PCGS and see if I can get the grade bump.
I think the lincolns I showed could grade MS67 at PCGS on a good day. The main difference I see is that NGC was more accepting of carbon spots. The lesson learned is to resubmit coins that I think are graded too tight. This averages out to about ten percent of the coins graded. I have only been resubmitting coins that are worth more than 150.00 at the next grade level or with a plus. This has been working on about half of the coins I resubmit. I have been accumulating the coins that would be worth less than 150.00 at the next higher grade. The cost / reward ratio may not work. Any recommendations?
Do you submit in the holders or cracked out?
I leave PCGS coins in the holder. They remove the coins from the holder and the graders to not know the previous grades. I have had many upgrades and believe this to be true.
I did one reconsideration when the process first started. A war nickel went from MS67 to MS68. I probably won't do reconsiderations in the future unless I wish to keep the old holder.
I have successfully crossed many NGC coins valued at under 300.00. I have tried to cross NGC MS67 star coins, valued at over 500.00, mostly Jefferson nickels. I was not successful. The guy I sold them to cracked them out and received many MS67+'s.
Welcome to the forums.
Welcome. Great first thread. Keep them coming. Very interesting.
Welcome to the forum.
Awesome first post.
The coin business is alive and well. You just need to be smart about how you go about it.
Thank you!
Welcome aboard
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
@JGRC....Welcome aboard and welcome back.... Great post with interesting points. I can see that you have a good eye for grades and a sense for business. Cheers, RickO
But the 1958-D Cent is a real knockout!
The floor on that coin is so clean it doesn't need to be swept.
Pete
Welcome back and thanks!
Let me be the first to ask - what about CAC?
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Most of my coins, lincoln memorials, jeffersons, and roosevelts, are not in CAC scope. I did sent 5 high grade wheats two years ago and one 1957 in PCGS MS67RD received a green sticker. The market was going lower at the time and it sold for about 60 percent of Coinfacts value in a Heritage auction.
Right now, I am in too big of a hurry to sell the high grade wheat coins and have not send any to CAC in the last two years. I'll have to study the difference in value of MS67 lincolns in CAC vs. non-CAC. I did auction a 1937 PCGS MS67+ at Great Collections two weeks ago and it brought more money than other 1937's in the same grade with CAC stickers that sold recently.
Great post and
"Inspiration exists, but it has to find you working" Pablo Picasso