Bought my first raw coin for grading ...

Opus · January 29, 2009 1:01AM

In the past couple months, I started a collection of Liberty nickels (62-64). I purchased a raw 1893 nickel from Walkerguy21d (Greg) and on his advice and the advice from my local BM, I sent it into PCGS. I had 4 free submissions since I joined in December. UtahCoin helped me by giving a second opinion on the pics Greg sent. So, along with Greg's coin, I sent in 3 others for grading. My results:

1893 5C US PR63 (raw)
1897 5C US Cleaning (SEGS MS63)
1904 5C US AU58 (SEGS MS63)
1909 5C US Altered Surfaces (SEGS MS64)

As you can see, the raw coin was the only bright spot.

I just wanted to give a public thank you to Greg, since he put with a lot, and I mean A LOT, of communication since it was my first raw purchase. I learned quite a bit from the experience. Not sure about others, but BST has been good to me.

Ken

relicsncoins · January 29, 2009 1:08AM

I'm guessing you won't be buying many SEGS holdered coins in the future.

nicetoning42107 · January 29, 2009 1:14AM

Ah, Larry Briggs strikes again.

doh · January 29, 2009 1:23AM

Congrats on the raw coin, well done! Lesson learned on the SEGS coins, huh? Everyone has to learn once I guess.

Placid · January 29, 2009 1:25AM

Do you get the option of a pcgs genuine holder on a crossover?

Opus · January 29, 2009 1:28AM

Do you get the option of a pcgs genuine holder on a crossover?

I don't remember that being on the form. I know what happens when one assumes, but I assumed they were coming back in genuine holders.

19Lyds · January 29, 2009 1:46AM

I need to ask if these were actually SEGS or SGS as they are two completely different services.

SGS (Star Grading Services) is the one which has all the MS70 coins on eBay.

Hopefully, you didn't pay too much.

Opus · January 29, 2009 2:13AM

They were SEGS. According to the PCGS price guide, I paid about 2 point less that what was listed.

fc · January 29, 2009 2:19AM

lol. SEGS.

SEGS is the biggest joke I have ever seen when it comes to lib
half eagles. Never have I seen a coin in their slabs I have even
remotely considered buying.

dsessom · January 29, 2009 2:32AM

I am putting together the same set right now. I just sent 10 raw coins to PCGS to be graded, and it was my raw submission as well. I am hoping most of them will holder...

But it's a bit of a crapshoot when buying raw coins for submission. It can cost money, but on the other hand, it can pay off big time.

ricko · January 29, 2009 3:06AM

Nice grade on the '93.... I take it you have learned your lesson about SEGS .... and as always, it is the coin that must be focused on.. Cheers, RickO

zeebob · January 29, 2009 3:45AM

Thank you for posting your results. I have often wondered about the coins I've seen in SEGS holders. Have seen a lot that look dubious. But I hear from a lot of dealers that, "SEGS is underrated as a TPG, buy my coin, blah blah blah." Now I don't feel bad about passing on a few coins I've seen in SEGS holders that looked in correctly graded.

This was a good lesson for more of us than just you. Thanks for ponying up the tuition.

Opus · January 29, 2009 4:34AM

I'm certainly not here to defend or diss SEGS because I'm to much of a novice at this point. I have heard from some people have done fairly well by SEGS. The coins were purchased from some northeast dealers and they had photos. I was going by what I could see in the photos and did not expect them to cross. I was hoping for no more than a point drop. It was a learning experience, I'll adjust accordingly and move on.

My original intent was to thanks Greg for his efforts in working with and educating me.

Billet7 · January 29, 2009 5:03AM

If you put genuine in the minimum grade box, they will crack it out and re-holder it if it grades or not.

Billet7 · January 29, 2009 5:09AM

Of the four SEGS coins I have purchased, one of them would have crossed IMHO. I was not decieved, I knew this going into the purchases...just make sure you don't take the holder's word for it. If you are buying lower tier TPG's coins, treat them as RAW...then come up with your own opinion.

I have also found coins in top tier TPG holders that I feel shouldn't have graded, but much much MUCH less frequently.

MillerJW · January 29, 2009 3:05PM

Well congrats on the poof nickel, and sorry about the rest

GrumpyEd · January 29, 2009 3:30PM

You need to think of them as raw.

Bought my first raw coin for grading ...

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