Grading Reconsideration or Regrade
buffalo_5c_fanatic
Posts: 23 ✭
I have a set of early matte proof Buffalo Nickels, 13 t1 through 16 excluding the 1915, all graded 67 CAC. Put the set together after considerable search for the most eye appealing coins in the early 90's. As an example of my good eye I've had two notable upgrades. One a 1916 crossed from NGC 66 to PCGS 67 (Proof understood). A few years ago I achieved my penultimate success with coin picking. I submitted my coins mentioned above plus a few more nickels for reconsideration. Beautiful coins! I received an upgrade to 68 for the 13 T1. With Laura's help at Legend we made a record sale of $98,000. Now that a few years have past, I'm ready to resubmit the coins once again. I can't help but think there is a bias if they're inspecting the coin and see that only a few years ago the coin received a 67. My question is how are they not biased, notwithstanding I've had past success.
Best to all!
Comments
Regarding your concern about grading bias - I doubt that they will check and see when the coins were previously graded. And even if they do, there are many coins that get upgraded within a much shorter time period than the “few years ago” that you mentioned.
In part, because the coins have been stickered by CAC, I’d go with a reconsideration, rather than regrade submission. Either way, best of luck to you.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thanks for your quick response. By regrading to a different grade, it's an implicit admission that the grade was incorrect. Either that or an admission that grading standards have changed. Assuming it's the first, I thought that it be difficult to admit the past error. Notwithstanding the fact the grades are changed often enough to be not uncommon. An interesting statistic is the proportion of how many submitted receive an upgrade. Venture a guess 10%, 20% ?
I would suggest recon just because you already have the stickers and it's my experience that you're "more eligible" to get a + with a reconsideration than on a regrade. It just seems to me that +'s are far more likely on a recon than a regrade or fresh grade.
Congrats… you seem to have an eye for quality. I suspect that you may have already done this but I will still suggest that you look at the PCGS, NGC and CAC pop reports and tie some the graded coins to auctions to get a better idea as to how your coins stack up to the existing graded population. There simple is no margin for error once we are in the 67, 67+ and 68 grade levels. Grading will always have a subjective component but it helps if there are characteristics associated with your coins that stand out creating a basis for a + or upgrade. If I felt strongly about the coins and they already reside in 67 holders, I would consider CAC reviews if that step has not been done. The negative to reconsideration might be creating a graded coin that has a maxed out grade which may create a different set of challenges at the time you sell.
You seem to already have a handle on this and know those that can provide insight in connection with your decision. Best of luck.
Experience the World through Numismatics...it's more than you can imagine.
As per the opening post “I have a set of early matte proof Buffalo Nickels, 13 t1 through 16 excluding the 1915, all graded 67 CAC.”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
You’re most welcome.
I have no idea what the percentage of resubmitted coins that receive an upgrade is. But whatever the nunber, it might vary considerably for different types of coins and different grade levels. So even if I knew it, I wouldn’t make anything of it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
thanks all pic is the 1913 t1 that made 68 and a record price, the other is the 13 T1 in 67 going to try for an upgrade, along with the 14 and 16. Don't have pics of those.
Check out the photos posted in prior post in this thread. 1913 T1 Pr68 and 1913 T1 Pr67 Anyone think the 67 will upgrade?
Love to hear opinions.