Question about grading at a show

ilikebuffaloes · February 11, 2011 2:02AM

I have a friend who has a coin that he believes is a key date in a high grade that could be worth a lot of money (let's say $100,000).

The coin is raw and he wants to have it graded by PCGS but he does not want to send it through the mail and does not want it to leave his sight. Can he have it graded at a show while he watches them do this?

I've always sent coins in to PCGS and I've never been to a major show that PCGS attended, so I'm not sure what is and isn't done at a show.

Thanks!

commoncents05 · February 11, 2011 2:03AM

Check PCGS's website for Show Schedules, but most big shows do have "Walkthrough" grading, where they grade on site.

-Paul

Barndog · February 11, 2011 2:06AM

<< Check PCGS's website for Show Schedules, but most big shows do have "Walkthrough" grading, where they grade on site.

-Paul >>

but they won't let you watch the process

MsMorrisine · February 11, 2011 2:07AM

oops.

they are going to tell you that the submission form is the receipt for the coin and that they won't let you watch it being graded.

coins and owner's identities are supposed to remain separate from the grader's view to avoid bias.

Lancastercoin · February 11, 2011 2:12AM

It will have to leave his sight if he wants it holdered.

WTCG · February 11, 2011 2:18AM

NO is the answer.

Grading rooms at shows are guarded by armed security and unauthorized people are never allowed in. The grading companies are more worried about your friend than your friend is about his coin.

atarian · February 11, 2011 2:22AM

<< NO is the answer.

Grading rooms at shows are guarded by armed security and unauthorized people are never allowed in. The grading companies are more worried about your friend than your friend is about his coin. >>

I guess I wont be buying a round of drinks then while my coin is being graded

Staircoins · February 11, 2011 2:33AM

You can reassure your friend that even if his coin IS a key date, in high grade, and worth six figures, that PCGS is very much accustomed to handling coins of this rarity and value, and that they routinely grade coins that are worth even more than this.

He need not be worried about his coin while in their possession. In fact, it is probably safer in their hands than in his own.

llafoe · February 11, 2011 2:42AM

He might want to show it to a dealer at the show before he gives his coin and $200 to PCGS... just in case the coin is a counterfeit.

ilikebuffaloes · February 11, 2011 3:03AM

<< You can reassure your friend that even if his coin IS a key date, in high grade, and worth six figures, that PCGS is very much accustomed to handling coins of this rarity and value, and that they routinely grade coins that are worth even more than this.

He need not be worried about his coin while in their possession. In fact, it is probably safer in their hands than in his own. >>

I agree with you. He is very nervous about it (which I understand) and that is why I wanted to know how this works so I can let him know and then he can decide.

He has been an avid collector for years and stumbled across this by accident. If it is real, it could be one of the greatest "You Suck" situations I've seen or heard about!

kurtdog · February 11, 2011 3:14AM

I think "undue influence" when I think of owners standing over the shoulders of graders in the grading rooms, and I'll bet the TPGs think that, too. Photographing a coin, OTOH, doesn't entail that risk, and can be done right in the owner's presence. Why don't you suggest he do that, then, post the photos, here. While we can't slab the coin for him, if the photos are any good, we can at least give him an honest attribution and grade.

Besides, we're photo-hounds...

Cratylus · February 11, 2011 3:15AM

<< He has been an avid collector for years and stumbled across this by accident. If it is real, it could be one of the greatest "You Suck" situations I've seen or heard about! >>

Details?

coinguy1 · February 11, 2011 3:17AM

<< He might want to show it to a dealer at the show before he gives his coin and $200 to PCGS... just in case the coin is a counterfeit. >>

I agree. It might be an instance in which a knowledgeable dealer can determine (free of charge), within seconds and with the coin never being out of the owner's sight, that it is counterfeit.

crypto79 · February 11, 2011 3:48AM

Heck a ruff picture of the coin posted on here and the value (+ or - a few %) can be ascertained with surprising accuracy

PerryHall · February 11, 2011 3:58AM

<< 

<< Check PCGS's website for Show Schedules, but most big shows do have "Walkthrough" grading, where they grade on site.

-Paul >>

but they won't let you watch the process >>

......because they don't want to give away any trade secrets.

SFBayArea · February 11, 2011 4:22AM

Are the show grading rates higher than mailed coin rates? How much would someone pay to get a modern graded on site?

Res · February 11, 2011 4:26AM

<< Are the show grading rates higher than mailed coin rates? How much would someone pay to get a modern graded on site? >>

I think it's $200 for a walk-through. If you mail it in with express service, and the coin is insured for enough, you may reach the $200 threshold, but probably not.

llafoe · February 11, 2011 4:29AM

<< 

<< 

<< Check PCGS's website for Show Schedules, but most big shows do have "Walkthrough" grading, where they grade on site.

-Paul >>

but they won't let you watch the process >>

......because they don't want to give away any trade secrets.

>>

I thought everyone knew about the PCGS dice... roll two dice, whatever the combined value is, that's your grade. Roolllllll.... 6! MS66... Congratulations!

ilikebuffaloes · February 11, 2011 4:35AM

Thanks again for all of the advice. The amount of knowledge and experience of the people who post here is amazing.

If he decides to show the coin to me, I'll photograph it and post it (if I can). He is keeping the coin in a safe deposit box, so I did not see it. After hearing the story, I'd love to see it too! He was not clear about the details (year and mint mark) so I can't tell you that yet, but he said it was a key date for the series.

I'm treating this as a hypothetical situation until I do see it (as some have pointed out it may be counterfeit).

There is a local B&M dealer that I would take the coin to (if it were mine) and ask for his opinion.

19Lyds · February 11, 2011 5:33AM

<< 

<< Check PCGS's website for Show Schedules, but most big shows do have "Walkthrough" grading, where they grade on site.

-Paul >>

but they won't let you watch the process >>

BINGO!

19Lyds · February 11, 2011 5:38AM

<< 

<< He might want to show it to a dealer at the show before he gives his coin and $200 to PCGS... just in case the coin is a counterfeit. >>

I agree. It might be an instance in which a knowledgeable dealer can determine (free of charge), within seconds and with the coin never being out of the owner's sight, that it is counterfeit. >>

You mean like the fella from Surprise Nebraska?

MsMorrisine · February 11, 2011 6:20AM

<< Thanks again for all of the advice. The amount of knowledge and experience of the people who post here is amazing.

If he decides to show the coin to me, I'll photograph it and post it (if I can). He is keeping the coin in a safe deposit box, so I did not see it. After hearing the story, I'd love to see it too! He was not clear about the details (year and mint mark) so I can't tell you that yet, but he said it was a key date for the series.

I'm treating this as a hypothetical situation until I do see it (as some have pointed out it may be counterfeit).

There is a local B&M dealer that I would take the coin to (if it were mine) and ask for his opinion. >>

I hope he didn't buy it from someone who inherited it from grandpa...

perhaps the two of you could both meet at the B&M.

PerryHall · February 11, 2011 7:23AM

If he is going to trust PCGS to give his coin a fair and accurate grade, he should trust them to safeguard his coin. Also, did you tell him they are insured?

johnny9434 · February 12, 2011 3:10AM

<< If he is going to trust PCGS to give his coin a fair and accurate grade, he should trust them to safeguard his coin. Also, did you tell him they are insured? >>

it would be a good thing to do. that way he wont have to many health problems that way

RWB · February 12, 2011 3:24AM

Grading is usually not necessary at a coin show.

The floors are normally flat, gray concrete, and bringing in a grader would just damage the concrete. It would also be difficult to maneuver a grader around the old fat guys trailing hot dog crumbs and mustard. A better use would be if the grader is taken to some place nearby with rough ground and asked to smooth it for an outdoor coin show.

ModernDollarNut · February 12, 2011 3:33AM

Roger! Love your twisted sense of humor!!! Rob

RWB · February 12, 2011 4:18AM

Hmmm...guess I misunderstood the OP's title. I'll re-read it.

DonWillis · February 12, 2011 8:37AM

It is very - very - rare that someone would "stumble across" a $100,000 coin.

When the story is too good to believe, that should tell us something.

If this guy is the one in a million to actually "stumble across" a rarity, a show would be a convienient place for him to get it graded.

Question about grading at a show

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