Crossover Question

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alvy
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Crossover Question

#1 Unread post by alvy »

I bought a 55 Roosevelt dime a few months ago at a local auction. It is slabbed buy a not so reliable grading company. But the coin does look nice. You are buying the coin not the holder. Anyway I would like to get it a more reputable holder. It is graded at a MS68, but I paid about a 66 price, planning for it not to be a 68. I guess my question is if I send it to get crossed over what do I put as a value price because the price of a 68 compared to a 66 is a steep drop and according to the PCGS and NGC websites it will affect the price of said coin being graded. If I send it in as 66 will they charge me after the fact if it comes back as a 68, which I would happily pay, or do I send it in as a 68 and pay the extra and then be out of some money when it comes back as a lower grade. Never submitted any coins before so I'm a little curious.
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Re: Crossover Question

#2 Unread post by SensibleSal66 »

Just my opinion. Not worth the risk and Money to have this re-graded.
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Earle42
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Re: Crossover Question

#3 Unread post by Earle42 »

You need to research the costs involved (which are steep unless you use ANACs) in order to have something to base your decision on. Generally, I know on another large forum, it is said if the coin is not worth 150.00 to start with, then its not worth slabbing. I think here the people who use these services (people who know how to do it and get around all the "gotchas" most people know nothign about) say about 100.00 (Mule, Weasel, correct me please!).

And although its a large read...you might want to take the time to read the following. Despite the popular mass mindset, even the most "respected" of the companies are not what their marketer's want you to think they are.

Here is a reality check about grading companies vs. what people coming into the hobby just assume about them b/c they see so many slabbed coins being sold:

Give a man a fish, feed him for a day. Teach a man to fish, feed him for life. Here is some beginners fishing tackle. Its worth your time to read.

Following is info concerning the actual nature of grading companies that can help people make better educated decisions.😊

Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.


Popular mistaken mindset:
1. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Many people start using grading companies thinking they will find a way to finance their hobby, but they learn a hard lesson quickly.

Professional predicting not possible:
2. Watch some of Daniel's videos where he gets slabbed coins back from the grading companies. Note even people who live, eat, breath, and deal coins for a living (like Daniel) can accurately predict what grade the companies will give. And...the "fault" (not really a fault) is in a widespread mistaken perception people get from being exposed to all the slabs being sold nowadays:

a. Coin grading companies are a business out to make a profit - this is why they exist. They use a system where allegedly three, but in reality its normally two, graders look at each coin and give an opinion. The company videos showing the process make you believe this is a relaxed paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh.

b. If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again. The slabbed coin might come back MS62 (extreme and a bad day for graders), 63, 64, 65, 66 (extreme and a great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used. This subjectivity makes for greater company profits since people resubmit the same coin trying to get a higher (better price when selling) grade. In the 90s the companies, at great expense, created better (their own words) scientific methods not relying upon human opinion. No doubt the large profit from the re-slabbing game fell. The companies abandoned the science and went back to their less accurate systems.

But..this is all hearsay without proof. So...
Grading the Coin Graders

Here is another good read from someone there at the start of the grading companies:
Hobby negative impacts from slabbing companies

Error on errors:
3. People also seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. But again, they ONLY GRADE coins. The companies will NOT try to find and ID an error for you. You must FIRST ID the error yourself, CHECK to see if the company you want to use recognizes that specific error, PAY them to verify the error on the label, and then you may or may not actually get what you pay for! The companies have a bad reputation for attributing errors correctly.

Link to and read (download if you want it) the pdf link in my signature as an eye opening example. Sadly, the verifiable data presented from the PCGS website shows trusting people have spent thousands of dollars on many slabbed coins that are not what the companies claims/slabbed the coins to be.

Cost concerns:
4. B/c people do not understand the businesses, so very many people end up with spending far more money to slab a coin than the coin is worth. The companies profit greatly with membership fees, submission fees, insurance fees, shipping fees and extra (chosen) fees. ANACs does not have all these fees though.


You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.


And…if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!" 😊
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: Crossover Question

#4 Unread post by Daniel »

PCGS nor NGC will NOT crossover any low tier or fake grading service, they only crossover each other, ANACS or ICG.

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Re: Crossover Question

#5 Unread post by Coin Mule »

Earle42 wrote: Tue Feb 15, 2022 1:24 am You need to research the costs involved (which are steep unless you use ANACs) in order to have something to base your decision on. Generally, I know on another large forum, it is said if the coin is not worth 150.00 to start with, then its not worth slabbing. I think here the people who use these services (people who know how to do it and get around all the "gotchas" most people know nothign about) say about 100.00 (Mule, Weasel, correct me please!).

Well, with me it all starts with how much I pay for the coin, I use the Greysheet ebay, Heritage and Great Collections to value anything I want to buy, it is a bit of a pain if I buy 100 coins, but unless I am buying for my personal collection, I have to have some kind of standard. I don't really have a set value or even a per coin % vs $ value, if I make $2, I make $2. Also I can lose a bit on some, but overall I make a profit.

I generally pay a few points over greysheet, this allows me to get better quality, but still under retail. I have no employees, no brick and mortar costs, so my %s are a little different. This having been said, I can fully understand a minimum from a business standpoint, if you have to pay an employee to pack, track and receive the coin, but if you are an individual, not so much.

One thing you need to remember is that there are additional costs, and not just the "grading". You have shipping both ways, and insurance both ways, so depending how you handle this, it could cost up to $35.00 per coin or more. Also, you have to learn how to identify cleaned, details, etc. coins. I have submitted a bunch of coins and never had a body bag or cleaned deets coin, but I am extremely critical on what I send out, I would rather make 1 dollar on a coin selling it ungraded, then bury myself in slabbing costs on a coin that comes back cleaned etc. Also I would never buy a slabbed, cleaned, deets, etc. coin, but that is me.

My view is that it's your money, do what you want. Some folks get freaky about you spending your own money, I don't understand the viewpoint, again if it does not affect my family or my bottom line, I don't really care.

OP if you have additional questions just ask, and I will answer the best I can.
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Re: Crossover Question

#6 Unread post by Earle42 »

Thanks for the sage advice Coin Mule :character-oldtimer: :thumbsup:
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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