Reconsideration "+" grade more than once?

split37 · October 29, 2020 7:00PM

Has anyone here ever had the experience of submitting a coin for a "+" grade more than once and achieved it the second or third go round?

golden · October 29, 2020 7:19PM

I saw a coin a couple of years ago that I and the dealer thought was a lock for a +. He has send it in several times and has not gotten a +.

drddm · October 29, 2020 7:47PM

I haven’t done it using the Reconsideration service but I have done it with sending a coin in for regrade. It plussed on the second try.

Dave

winesteven · October 30, 2020 1:02AM

Yes. I had an 1853 Large Cent, MS64RD with CAC. On its third trip to PCGS for Reconsideration, it was given a “+”. Since the cert number remained unchanged, CAC automatically reapplied their sticker for $3. While I’ve since upgraded that coin in my collection, it gave me a lot of pleasure. Nowadays though, when I use Reconsideration, I give a coin only one shot at that. My collection consists of a high percentage of “+” coins. While I purchased many that already had the “+”, almost as many got their “+” by me using Reconsideration. 100% of those have CAC’s.

amwldcoin · October 30, 2020 3:01AM

My average is around 3.5 submissions for each coin I've received a + on(only trying for 58's). My take on making a + is to find a worthy coin, put it under the spotlight for the graders, insert your money into a 1 armed bandit and hope for the jackpot! My avatar took 5 tries.

@split37 said:
Has anyone here ever had the experience of submitting a coin for a "+" grade more than once and achieved it the second or third go round?

TurtleCat · October 30, 2020 3:07AM

Are you all doing the reconsideration for + on coins where there is a big spread in price? I have several that would probably go + or maybe one grade higher but am not sure if I should try or leave in the old holders. There’s not a big spread on these so probably won’t increase value by more than a few hundred best case.

Boosibri · October 30, 2020 3:08AM

Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

amwldcoin · October 30, 2020 3:26AM

It is if you don't want your 58 to turn into a 62!

Edit to add, I spearheaded the option for reconsideration for + only upgrade.

@Boosibri said:
Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

Boosibri · October 30, 2020 3:30AM

@amwldcoin said:
It is if you don't want your 58 to turn into a 62!

Edit to add, I spearheaded the option for reconsideration for + only upgrade.

@Boosibri said:
Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

Fair point, never thought of trying for a max grade lower than the potential grade.

winesteven · October 30, 2020 3:34AM

@TurtleCat said:
Are you all doing the reconsideration for + on coins where there is a big spread in price? I have several that would probably go + or maybe one grade higher but am not sure if I should try or leave in the old holders. There’s not a big spread on these so probably won’t increase value by more than a few hundred best case.

I agree that if the coin is in an OGH, you really have to look hard at the potential price differential. But at a cost of only $35 for coins valued at less than $2,500 in their present grade, if not in an OGH, if the bump up in value is roughly $400 or more, it may be worth it?

winesteven · October 30, 2020 3:41AM

@Boosibri said:
Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

I also believe that using Regrading probably has a higher success rate than Reconsideration. But for me, I only use Reconsideration for two reasons:
1. With Regrade, there’s the risk of it coming back at a lower grade, and Reconsideration does not pose that risk.
2. The coins I submit all have CAC’s. With Reconsideration, if upgraded, they keep the same cert number (maybe because I request that?). So if the upgrade is only a “+”, then CAC will automatically reapply their sticker since the cert number remains unchanged.

Edit - I stand corrected on my point #1. See @Boosibri ’s comment below.

Boosibri · October 30, 2020 3:50AM

@winesteven said:

@Boosibri said:
Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

I also believe that using Regrading probably has a higher success rate than Reconsideration. But for me, I only use Reconsideration for two reasons:
1. With Regrade, there’s the risk of it coming back at a lower grade, and Reconsideration does not pose that risk.
2. The coins I submit all have CAC’s. With Reconsideration, if upgraded, they keep the same cert number (maybe because I request that?). So if the upgrade is only a “+”, then CAC will automatically reapply their sticker since the cert number remains unchanged.

Point one isn’t accurate. Regrade will not come back a lower grade. Min grade is what it was previously unless you specify otherwise.

lkeigwin · October 30, 2020 6:13AM

@Boosibri said:

@winesteven said:

@Boosibri said:
Using regrading, yes, using reconsideration, never tried nor would that be a good strategy to use in my opinion.

I also believe that using Regrading probably has a higher success rate than Reconsideration. But for me, I only use Reconsideration for two reasons:
1. With Regrade, there’s the risk of it coming back at a lower grade, and Reconsideration does not pose that risk.
2. The coins I submit all have CAC’s. With Reconsideration, if upgraded, they keep the same cert number (maybe because I request that?). So if the upgrade is only a “+”, then CAC will automatically reapply their sticker since the cert number remains unchanged.

Point one isn’t accurate. Regrade will not come back a lower grade. Min grade is what it was previously unless you specify otherwise.

Actually, a regrade can come back lower. When PCGS says "it is guaranteed not to come back lower" that means the PCGS guarantee kicks in (a payout) if it must grade lower. This point was clarified by DW a few years ago. PCGS will not retain the current grade if it is wholly inappropriate.

OTOH, I have never seen a regrade drop, and I've done hundreds.
Lance.

split37 · October 30, 2020 8:26AM

@amwldcoin said:
My average is around 3.5 submissions for each coin I've received a + on(only trying for 58's). My take on making a + is to find a worthy coin, put it under the spotlight for the graders, insert your money into a 1 armed bandit and hope for the jackpot! My avatar took 5 tries.

Is that 3.5 submissions of the same coin or 3.5 different examples of a coin to achieve the grade desired?

Tom147 · October 30, 2020 8:34AM

OTOH, I have never seen a regrade drop, and I've done hundreds.
Lance.

May I ask, what is your " ballpark " percentage of regrades getting upgraded ?

TurtleCat · October 30, 2020 9:46AM

I was listening to a CoinWeek podcast from last fall with a PCGS guy talking about how many “old friends” they see come in. It was very interesting because they clearly know when it’s the same coin (if it has some unique virtues) and what the submitter is trying to do. The indication is they may play along if they want to make sure the coin doesn’t get doctored in an attempt to get it bumped. They know the coin is tombed forever in that case and probably won’t be submitted anymore reducing the risk to the coin.

But listening to their thought process was very interesting and directly applies to how people think they do regrades and crackouts. It’s worth a listen if you want to find it. It was their podcast #120 if you look it up. Every time I do a link to their site it gets blocked so you’ll have to Google for it.

amwldcoin · October 30, 2020 9:50AM

Same Coin!

@split37 said:

@amwldcoin said:
My average is around 3.5 submissions for each coin I've received a + on(only trying for 58's). My take on making a + is to find a worthy coin, put it under the spotlight for the graders, insert your money into a 1 armed bandit and hope for the jackpot! My avatar took 5 tries.

Is that 3.5 submissions of the same coin or 3.5 different examples of a coin to achieve the grade desired?

lkeigwin · October 30, 2020 11:03AM

@Tom147 said:

OTOH, I have never seen a regrade drop, and I've done hundreds.
Lance.

May I ask, what is your " ballpark " percentage of regrades getting upgraded ?

Initially it was between 25 and 35%. Over time I dug deeper and the upgrade rate dropped.

But don't read too much into that. I seriously doubt random regrades would achieve anything close to it.
Lance.

Walkerfan · October 30, 2020 3:31PM

I tried TWICE on the same coin and failed both times ATS.

That was just one coin and the only one I've tried, so far.

I have MANY other promising future candidates.

Reconsideration "+" grade more than once?

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