How do you know when to sticker or resubmit?
dipset512
Posts: 131 ✭✭✭
I'd love to hear how everyone approaches the sticker vs. resubmit decision. Are you stickering every coin you think has potential, or being more selective and only pursuing stickers when you're sure it's undergraded? And what factors make you lean toward resubmission instead? Looking forward to hearing different perspectives.
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You use your accumulated knowledge of the market and your grading skills to form an estimation of your chances of success from a risk/reward perspective. If you don’t have that knowledge or those skills, you are usually wasting your time & money. Others who have been in the game for a while have usually already seen and evaluated those coins before you got them. Of course, anything can happen, and even a blind squirrel finds an acorn once in a while.
I approach it as education/tuition and a valuable learning opportunity.
I’ve had a lot of coins I didn’t think would sticker or upgrade and did, and a lot of coins I thought were a lock that didn’t.
I’ve learned far more from those experiences than times when the result aligned with my pre-submission expectation.
Being open to being wrong is a very useful mindset.
Nothing is as expensive as free money.
@POCKETCHANGE. I have always learned more from my failures than my successes in all things. James
Read somewhere that CAC kept track of serial numbers of coins submitted.
Wouldn't this preclude an honest reconsideration?
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Their system does track this, but from what I’ve heard, this information does not make it into the grading room so each coin does get an honest look.
I can confirm I’ve resubmitted multiple coins that failed to bean the first time, and did on a subsequent trip (with the same cert#).
Nothing is as expensive as free money.
Ah, I should have specified. I meant reconsideration at the grading service vs stickering.
Why not both? If a coin merits and receives a CAC sticker, and is then sent to the TPG for Reconsideration:
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
I only buy slabbed coins that I like in the slabs that I like. The crack-out and stickering game isn't for me. Just the cost of two-way insured shipping alone is enough to make it an expensive game and there's also the anxiety of wondering if your coin will be stolen or lost by a postal employee which has happened to me a couple of times in the past.
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
What were the basic reasons why the coins didn't sticker the first time.
There's an interesting study that students learn more from wrong answers than right answers. Interestingly, this is true even if they don't know they were wrong.
All comments reflect the opinion of the author, even when irrefutably accurate.
On one of them, JA drew an arrow to a small area in the obverse fields and suggested it had been messed with. I looked at it a million ways and from every angle and magnification, and could not see what he was indicating. Whatever it was, it wasn’t obvious enough to hold the coin back on a subsequent visit, although this one actually stickered on the third (known) trip to CAC, as I later found out the prior owner had also submitted it.
On another, I can’t be sure because I did not request a note on the first submission, but I suspect he thought the coin was borderline too dark for the grade. The coin is very original though, and I’m guessing he weighted that factor more highly on the second trip.
Nothing is as expensive as free money.
It's a question of how obvious is the reason for the fail. I recently sent in a box of 20 for a long time collector friend who believed he had been very discriminating with his purchases of silver dollars and commemoratives over the years. His results were:
Green Sticker 3
Questionable Toning 1
Cleaned 3
Abrasions 6
PVC 7
The questionable toning had been previously submitted and this was a second failure. It's extremely unlikely the other fails could pass on a second try.
What was his reaction? Was he cursing at CAC? If he recognizes the value of having coins that merit CAC stickers, did he recognize his skills need improving before he continues buying coins without stickers, or possibly recognize, like I did, that my skills are not so good, so I buy coins already stickered?
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
His reaction:
"We sure did TERRIBLE! 15% of submissions is awful! We looked closely for visible blemishes and both agreed on the 20 sent in, they all looked good! "
This collector was a skeptic until he started having me send in coins on his behalf. Then after GC sent in other coins for auction he realized the value of a CAC. Fortunately the coins we sent in were bought in lower grades long ago when he had less money available for coins and consequently the financial hit was not as severe as it could have been. Going forward, he is limiting his coin purchases to PCGS CACs.
He is very proud of the three silver dollars that received green stickers which include a DMPL and a PL.
Given that 40% is the average for coins passing, it's not surprising that some submission results are far worse than others.
When it goes bad in the holder or needs a dip.
Thanks for all the responses here, great information.
Thats a tough question.
I would say get a second opinion. If its a recently graded coin id say sticker.
If its an older slab id say resubmit.
It has to make sense though. Your ability to grade really comes into play.
Early on I sent in 20 coins for a sticker hoping for good results. I was a fool. Only 4 came back stickered. Now I am much more careful.
We learn from our mistakes.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7
Everyone approaches this differently and registry sets are a factor for some. In general for me at least, if I think my coin is undergraded and the price difference is significant enough if the coin grades one point higher I will resubmit.
How about if an upgrade only with a plus will easily make the math work out?
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Absolutely.
Since we both collect mostly CAC coins it becomes risky if the coin upgrades one point higher and the coin may not then sticker at CAC.