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Are grading holder mechanical errors ever worth a premium?
logger7
Posts: 9,658 ✭✭✭✭✭
Today at an open flea market, a guy at a table had a 3c nickel from the 1880s in an NGC MS63 holder. The problem is that it said "10c" and came up with a much higher value online. So a coin worth around $160 shows up as a coin worth multiples of that. A buyer scanned it and offered something over $300 for the coin.
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Zero or negative to me. I would have to pay something to resubmit it. But then, I think the whole idea of collecting holders is absurd and ultimately a waste of money.
No, nothing or not much. Some like to specialize it and that's about it. No added value
I would discount them sharply. It would cost money to get them into a properly labeled holder.
It doesn't cost a thing to get coins with mechanical errors reholdered. NGC and PCGS (maybe the others too) will pay postage both ways if you contact them.
Here's one for $6k
https://forums.collectors.com/discussion/1063147/cricket-pcgs-65fh-detached/p1
Possibly to some people but that’d be a pretty niche market
"Another day, another Collectors Universe forum scrolling session."
- Someone, probably
There can be a small premium for common lower dollar coins. For expensive coins, it’s a negative.
If the error is funny, people might buy it but not in anything pricey.
All comments reflect the opinion of the author, even when irrefutably accurate.
The photo on the left of the cricket is just about what he looked like inside the slab when I first got it – before he dried up in almost 25 years!
I have several error label slabs where they show the wrong grade.
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
Can you invoke any guarantee?
Retail on this one is $125. Not sure if the final price had anything to due to the error but I would think so.
I see them as unfortunate…
Experience the World through Numismatics...it's more than you can imagine.
Is that a no drapery variety? If so, the value is more like $500. It's more likely that possibility is what's driving the price.
All comments reflect the opinion of the author, even when irrefutably accurate.
The only guarantee I can assure is that when I tell non-collectors that I sold a dead cricket for six grand they look at me like I’m nuts……
I’ve been a collector for 70+ years and I think that’s nuts.
I have an ANACS Buffalo Nickel that says 1313-D on the holder instead of 1913-D. Been offered a small premium for it and I passed
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
I have a 2010 S Silver Proof Roosevelt in a PCGS holder not indicated as silver. An NGC Eisenhower Bicentennial proof shown as a 50C, and an NGC 1976P Eisenhower bicentennial labeled as a type 1 but is actually type 2. Just interesting to have in my opinion.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Ahhhh gotcha makes sense
I had a Barber half mistakenly labeled as a quarter. I had to get it relabeled (at no charge) to get it into my registry set.
Other than grading errors by our hosts (just kidding monitors) that is my only experience with a mislabeled piece.
Mostly a nuisance to me, since I have to get it reholdered, even if reholdering is free. On the bright side, I get a new, unblemished holder out of it.
Others like them. Not surprising, I guess, since a lot of people like collecting labels.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Some may think they can pressure the grading services to negotiate a "deal" so they get the embarrassing holder back to correct their mistake. What they should realize is that the holder and all the proprietary things connected are at the discretion of the grading service. They just delete the grade and certification number from their authentication system when there is an error they can substantiate.
As mechanical errors are pretty common when looking through bulk, sometimes there are neat mistakes. Here is the coolest I've seen, swapped labels on two NGC Fatty holders:
https://auctions.stacksbowers.com/lots/view/3-1GWCJA/pair-of-classic-commemorative-half-dollars-with-mismatched-ngc-labels-ms-64-ngc-oh-generation-40
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
If NGC knew about the mismatch, would they delete the the certification number due to their mistake?
Although I take a very dim view of holder collecting, this example is pretty cool
Why would they? There are bigger issues out there along with mass mechanical errors already. No reason to delete this unless they have the examples in hand for reholder.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Here's an interesting one...
Another fun mech error: 1866 No Motto Proof Seated dollar.
Coinfacts, Mintage: 2
The coin inside the holder clearly had a motto. A 1-2 million dollar difference in price that I am sure PCGS was happy to fix. Certainly the biggest "oopsie" that I have seen.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
No premium and anyone with ethics would not sell it fraudulently like that, it is free to return to NGC or PCGS by contacting their customer service and requesting a mechanical error on the holder, explaining the issue. They pay the postage and quickly return it. I've had 4 and all went very quickly and corrected properly.
Way cool set 😎
Why would they not? A buyer of one of the coins would be unable to verify the coin or the grade.
All comments reflect the opinion of the author, even when irrefutably accurate.
Windycity, do you think CAC would gold sticker your 47-D Quarter?
No. Who is going to buy it anyhow? They would be looking at reholder cost to get the mistake fixed. What if it downgraded then?
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
Typically reholder cost is covered by the TPG for mechanical errors, making them more desirable than coins in gimmicky promotional slabs.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Yes I would think the TPG would cover such a situation.