Would the fact that a coin was resubmitted several times by a dealer impact your decision to buy?

Comments

• msch1man Posts: 809 ✭✭✭✭

  June 21, 2005 6:26AM

  Assuming it is a knowledgeable dealer, I would look at it as a very high end 62 and would (most likely) be happy to pay 62 money for it. After all, if the dealer goes through the time and expense of re-submitting it multiple times, it has to look like a 63 to him or her. It would seem to me that the collector would get a PQ 62 in this case.

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• TorinoCobra71 Posts: 8,061 ✭✭✭

  June 21, 2005 6:26AM

  What kinda coin you lookin at to buy?
  
  For me, it would depend on the date/denomination............
  
  TorinoCobra71
  
  

  

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• nwcs Posts: 13,386 ✭✭✭

  June 21, 2005 6:27AM

  If the dealer has a good reputation then I'll think high end 62. Either way it seems maxed out.

  Blog and Pics

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• RYK Posts: 35,800 ✭✭✭✭✭

  June 21, 2005 6:27AM

  Your scenario does not bother nearly as much as the DNC scenario, where you have a coin in a PCGS or NGC holder and someone (or you) tried once or more to cross and was not successful. That suggests either: 1) one service does not think the coin grades as high as the other service; 2) The coin is perceived to have a problem; 3) The grading services like to DNC the coins in the other service's holder, just for a sense of superiority.

  My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132

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• DJC Posts: 787 ✭

  June 21, 2005 6:42AM

  I tend to be suspicious of anything anybody says when trying to sell me something.
  
  That being said, assuming I believed the dealer, and assuming I would even buy it as a 62 (let's face it, most 61 to 62 coins are either really choice 58's or absolute dog unc's), it would only mean anything if he was using it as excuse to reach for 63 premiums. If, say, $1000 in 62 and $1500 in 63, I'll pay fully $1000+ for the solid 62 in this scenario, but not the $1500.
  
  You tried and tried, and the service aren't buying it for a 63? Neither am I.
  
  
  BTW~ Belated welcome back Longacre.

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• hughesm1 Posts: 778 ✭✭

  June 21, 2005 7:44AM

  Buy the coin, not the holder...judge the coin on it's merits, not another's opinion.

  Mark

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• Darkmane Posts: 1,021 ✭

  June 21, 2005 7:45AM

  oh boy, i'd love that. a lot more than the 62 that made 63 the fifth time selling for 63 money

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• PerryHall Posts: 46,863 ✭✭✭✭✭

  June 21, 2005 8:49AM

  I'd look at the coin and make my own judgement based on the merits of the coin.

  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

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• AlaBill Posts: 467

  June 21, 2005 8:14PM

  Let's change this up a bit...
  
  Suppose that a dealer is selling a particular coin and the grade is MS-62. Suppose further that the dealer discloses that the coin crossed from PCGS MS-61 to NGC MS-62, and that it took resubmissions to get it upgraded to MS-63.
  
  Would this impact your decision to buy the coin?

  ...AlaBill

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• 291fifth Posts: 24,700 ✭✭✭✭✭

  June 21, 2005 8:54PM

  You should buy the coin as an ordinary MS-62 if that is what you want. When it comes time for you to sell that is how the buyers will evaluate it...also, MS62 is a grade that you should probably buy at a discount since it is a "widget" grade for most coins.

  All glory is fleeting.

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• Steve27 Posts: 13,275 ✭✭✭

  June 21, 2005 8:57PM

  I look at the coin and the price, little else matters (and I never listen to the dealers stories).

  "It's far easier to fight for principles, than to live up to them." Adlai Stevenson

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• AgMe Posts: 881

  June 21, 2005 9:46PM

  Price = grade + eye appeal & every now & then if it's the last coin to complete a set I'm working on...
  
  The dealer can save the stories though...
  
  ~g
  
  

  I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.
  
  
  
  I'd give you the world, just because...
  
  Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
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• BillJones Posts: 34,838 ✭✭✭✭✭

  June 21, 2005 11:10PM

  Frankly I buy coins for my collection that I like, and that fact that it might upgrade is not a prime consideration. It's nice to think that it might, but if I really liked the coin AND if I felt that I could not really afford an MS-63, I'd buy it.
  
  MS-62 is an in between grade that I only really consider when I can't afford the MS-63. A prime example of this is the Classic $2.50 and $5.00 gold coins. Those pieces are scarce to rare in TRUE Mint State, and a "super slider" which is what an MS-62 graded coin often is, is the best I can afford.
  
  AND to be truthful most of the MS-63 graded Classic Head $5 gold coins I've seen were not Mint State either. The only true Mint State examples I've seen were graded MS-64.

  Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?

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