Crack-Out Artist Win & Loss Stories
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Share some good or bad campfire crack out tales you've heard about?
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
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I rarely hear of any crack-out failures. I wanted to post this quickly before this discussion gets closed!
I was working for a major buyer who used to buy up to a third of most auctions about 20 years ago. I remember he had an MS-66 or MS-67 Barber 50c that was beautifully toned, x-Pittman. He thought it had a shot at upgrading if he dipped it which he did. It looked like an ice skating rink once dipped. It had obviously been cleaned years ago but had retoned gorgeously. BIG loss.
Did you work for Martin Paul?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Not a coin I own, it was offered to me years ago raw. But I knew it was a problem coin and passed.
The coin that was cracked out of a holder years ago. The owner tried for a higher grade but it kept getting a no grade. Last year it finally got graded back to the original grade. So money was lost on the grading fees. I heard it was offered for a high price tag for the grade. When the potential buyer said no the price tag was dropped by $1700. The potential buyer passed even after the cost was offered at cost (yeah right). It should be in a details holder, it didn’t pass at cac either. So I would say its a crack out loser
Had a pretty nice buffalo nickel in PCGS MS64. Wanted to use it for my registry set at NGC and honestly, thought it had a shot at their star designation. Cracked and submitted and got a MS62, no star! Still don't know what they saw that they didn't like to downgrade that much. 62's are supposed to have lots of detracting marks, this one doesn't!
I recently bought a nice $2.5 gold coin that was a Proof like coin. Had it sent in to be regraded and got the PL. A good winner for me.
Speaking of Proof Like surfaces, does the ANA have classes for this at The Fun Show. I want to recommend it to a collector/dealer that has a difficult time telling PL from Polished.
Thanks
My crack out story is that I do not crack out coins...
Yep... I keep them as they are...I purchased them because I liked the coin. Cheers, RickO
Bought a beautiful 1895-O Barber dime in an NGC holder AU53. Tried CAC but was unsuccessful
Sent it to PCGS for crossover at a minimum of 53. It upgraded to a 55
Tried CAC again and it passed
What do you suppose the time frame was between ngc grading and PCGS grading ?
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
The ones done recently same grade and a couple upgraded. Another is in process.
I've had pretty good luck buying raw and submitting, at least on a small scale. But I've only really done one legit crack out. And that was more to get the piece into a more consistent slab for the rest of my slabbed bullion.
But I did enjoy seeing the process start to finish:
--Severian the Lame
The worst case I know of was a deal between 2 dealers I knew.
Dealer A sold a 27-S Buffalo Graded PCGS 64 to dealer B.
Dealer B cracked the coin out in hopes of getting a 65. The coin came back as added MM!
So who should eat the loss here? Dealer B voided the PCGS guarantee. Dealer A would be receiving a raw bogus coin back in return with absolutely no recourse on who he bought it from.
Interested in everyone's thoughts. This was 10 or 15 years ago.
Dealer B (crack-out artist) would be SOL. IMO.
I may not know what I'm doing most of the time, but I'm Damn good at it. 😇 😈
I was sitting at a dealers table mentioning another dealer friend of ours had a nice coin.
He mentioned it was formally his and he sent it in 19 times for an upgrade then finally sold it.
The other dealer got the upgrade on his first try.
A dishonest dealer could send it back to the grading service that originally slabbed it thinking that if it fooled them once it would fool them again. Once it's been reslabbed he could the sell it to minimize his lose.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I’m not sure, sorry. Just a couple months between the two trips to CAC if that helps.
I had an 1818 50C PCGS AU53 CAC...cracked it (my only attempt) and it came back AU55...and re-CAC'd.
I normally cross my coins from others to PCGS, my worst result was a 1899-O 10C RPM downgrade from MS62 (NGC) to MS60 PCGS.
Best was a 1854 10C ANACS AU50 (bought raw) to PCGS AU55.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Cracked an ICG 65 13-D T1 Buff, graded 66 at PCGS and CAC'd
Cracked an ANACS 63 21 Peace and graded 64 at PCGS.
Pretty much it really... I had another anacs 63 21 Peace grade out the same at PCGS.
I tried the "reconsideration special" last year with no upgrades. I might eventually crack those and retry, but I don't plan on selling so it doesn't really matter. I have a handful of ANACS and NGC coins that I'll eventually send to PCGS, no rush though.
Collector, occasional seller
Yes in response to Mark's question
I hear a lot while shopping or considering a coin that it’s priced at next grade level or close because it’s surely the next grade all day long, but person not willing to crack and send in themselves first to prove it but rather try to offload the risk to the buyer and reap some blue sky up front.
I guess it’s only natural as nobody likes to hear about a coin they sold upgrading at some point. I just say that if you think it has a shot, put your money where your mouth is before it gets listed.
Had a 33S Walker in a rattler holder I bought at auction years ago.
When I received it I thought it to be pretty hazy, and NGC had just started offering and promoting a conservation service.
Long story short I now have a nice, dipped, better date Walker in a much less desirable holder.
My Best:
I cracked an 1822 CBH out of an NGC VF-25 holder and got it back from PCGS in an XF-40 holder. This was about 10 years ago.
My Worst:
Cracked an 1873-P Trade $ out of NGC-58 holder and got back PCGS AU-53
A group of 20 essentially identical coins from a small hoard were sent to ANACS. They graded MS64 to MS65. The coins had blazing luster and virtually no contact marks so that seemed a little low. All were cracked out, 10 sent to NGC and 10 to PCGS. All 20 came back MS66 to 68.
Not a crack out, but had a Seated quarter NGC MS65, submitted for cross at PCGS, crossed at MS64. Now CAC and only UNC with a sticker.
End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN
Both coins upgraded to a top tier TPG
Good thing the nitwit in the video has cotton gloves on, LOL
Your hobby is supposed to be your therapy, not the reason you need it.
Upgrade baby, upgrade
Why use bolt cutters when a hammer is soo much more fun
Best I am aware of and have personally seen . . .
ANACS AU58 late date Large Cent (recent larger holder) to NGC 65RB (Pop 1 to Pop 2). It had just a touch of Blue Ribbon.
Astute observers will spot the coin in the pop reports . . . . .
Drunner
Way too many to list here both good and bad. Some bad ones were cracking an PCGS MS 65 26D Buffalo with a great strike and the "D" fell off the coin. Thought the coin was a lock 66. Maybe the coin referenced above as I split the coin with another dealer so we shared in the loss. The PCGS guarantee was null and void of course. Have had some very bad dips (as well as good ones). This is probably no different than picking stocks - some good some bad but hopefully ahead of the game.
IIRC, purchased an NGC 12-d Lincoln in 64rb for 250 on the bay, submitted to PCGS walk through at ANA Chicago and came back 65rd. Sold to Andy at the show for 2000.
1909 S via ANACS AU58, now resides in PCGS MS64 RB.
I bought 2 MS62 seated half dimes in an old ANACS holder that upgraded to an MS64+ And one came back cleaned??
Best...
1853 $1 gold PCI AU50 to PCGS AU58
Worst...
1878 CC $1 Morgan NGC MS62 to PCGS UNC details (cleaned).
I can remember the early days of the TPGs.....at large shows you could literally hear the cracking of slabs echoing through the bourse floor...
It didn't take long for the "crackout game" to begin.
My only two crackouts:
An NGC XF45 1889 CC $1 to PCGS AU50
An NGC MS62PL 1876 Trade $1 to PCGS PR62
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
I didn't crack out an MS66 Washington that someone else got in an MS68 holder.
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