Is this the overall cost to crossover a coin?
pcgs69
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I have one coin of value left in my collection and having a bit of a harder time selling it. I was thinking of crossing it over to give it some better exposure and get it in better plastic. Started looking at the expense of doing it myself and just kept seeing fees and expenses add up. Ended up estimating that it would cost $252 to cross it over. I understand I might be able to save on shipping by going registered but I'm not going to buy a roll of that gummed tape for one final coin. Looks like there's also a "guaranteed premium" of 1% I'd have to pay if it crosses. Does this look right? Not sure the added expense would be worth it. Based on the estimated value I don't think I can choose a lower grading tier.
Maybe find a dealer to submit so I don't have to get a membership fee and can split shipping and the $10 handling fees with other submissions in the order?
Not going to go into much detail on the coin because I don't want to make it look like I'm promoting its sale by stating what it is. Just want to stick to the topic of crossovers.
If it crosses over at the same grade, it might even be a little more for the 1% crossover premium because PCGS would base the 1% off their price guide value.
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Consign the coin with an auction house and have them submit the coin for crossover.
I’m sure you already know this but I’ll say it anyway - the cost pertains to attempting to cross over a coin, something that might not even be successful.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The guarantee premium is most certainly based on the price guide value. You might be better off consigning it to someone who already had PCGS and CAC memberships, who also wont have to pay $40 for shipping.
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Oh yeah, hadn't thought of that possibility...spend all of that and no guarantee it would even cross.
Why not consign it to an auction house like Great Collections? You have the option to work with Ian and his staff to set the floor price thus limiting your downside, perhaps the floor would even be higher than what you have invested + the costs to attempt a crossover. Assuming it is the coin I think you just need more eyeballs on it, I would love to buy it myself but just don't have a place in the collection for it.
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Without posting pictures or asking price or anything, because that belongs in the BST, can you tell us what type of coin it is?
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It's a 1798 Draped Bust Dollar Small Eagle variety which is a lot scarcer than the large eagle version usually seen that year. It's a lower grade, but I feel it's accurately graded currently.
Based on your guaranteed premium it's a $3,000 coin. If you send it to CACG for crossover, there would be no guaranteed premium. Coins in that price category are assumed to have failed if they don't have a CAC.
If you're going to sell it just consign it to GC and have Ian send it to CAC to try and get it stickered.
I wouldn't take a chance on sending it in for crossover, as said above, it might not cross and you're out the money.
At GC YOU set the opening bid, YOU are in control
Good luck
Ps. You could always put it up on the BST few a few days and see what happens, you never know.......
Mike
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Can we assume it is a NGC and not a less popular brand?
I see no problem with you telling us what this mystery coin is and what mystery slab it's housed in and what mystery grade they gave it. If you show us pics of this coin, we may advise against trying to cross it because we think it won't cross.
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
The mystery has been revealed!
Great coin and I expect there are a lot of potential buyers if you decide to sell it. Most 1798 Small Eagle dollars are VF and better, so there is very little available in lower grades, and there are many buyers who don't want to pay the price of a VF.
An authorized PCGS dealer, and a contributor to the Red Book.
Great looking coin and I think it looks fine in its current holder. What grading service are you thinking about crossing it to and do you think it will become more valuable if the cross is successful? Has it been to CAC?
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
It’s been available for a while, and I think that’s why the thought of crossing it came to mind.
https://forums.collectors.com/discussion/1105620/fsh-1798-small-eagle-draped-bust-dollar-ngc-vg8-final-price#latest
I personally like the coin very much, except for the yellow/green discoloration on the reverse. Could that be conserved off? I would not dump more money into crossing this to pcgs. A cac sticker would be reasonably priced and benefit the coin, and I’d let GC do that part for me.
The yellow-green you speak of appears to be toning, which could not be conserved off.
BTW I like the die crack thru the 2nd T of STATES.
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Pricing is the issue. GS is $2500, CPG is $3100. IMO, OP is never netting $3050, regardless of the holder. It would be (IMO) a fantastic result for this to hammer at $2700 at GC for an all in price of $3k. That nets OP $2700.
IF it stickers maybe OP could net a bit over $3k but (again, IMO) I don't think the coin is stickering. Sinking extra money into this coin would not net OP any additional funds and would probably be less after the holdering/shipping/etc.
I would lower the price and be happy with any amount over $2500.
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
If it is am out - that would buy about 4 or 5 nice slabbed Bullion coins. Picked up a CACG ASE / MS 70 for $60.
Any rare early American type coin in a first world straight graded holder is a winner. I wish I had the budget for a coin like the OP.
At this point I’m not sure the added expense of crossing it over will be offset by a higher value. I have never sent it to CAC and don’t know if it’s ever made its way over. Maybe I’m too old school… i buy it because i like it and not because it has a green sticker haha.
Even those who prioritze CAC buy it because they like it, but when it comes to resale. and liquidity, CAC is king. If your coin was stickered, youd have sold it the day you posted it, and this thread would never exist. I know that I would pay at least 20% more than what I'd offer as it is, if it were stickered.
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I've just checked the NGC price guide and shockingly it puts this VG 8 coin's value at $2,350. Yes, it's just a price guide; but, it's pretty difficult to get someone to pay more for a NGC especially without a CAC. With a CAC buyers might overlook the NGC price guide.