92D close AM graded ms64 red ( NOW WHAT TO DO ? )

First, I would like to say hello to everyone.I will try to make this as short as possible I have only been collecting for about six months well in that short amount of time I was lucky enough to find a 92d close am. I researched the value and found a honest coin dealer who got the coin verified and graded it reads uncirculated ms64 red. The only issue I have is when he took it down to one of the coin shows to get graded he showed it to a pcgs booth and was told that they did not verify or acknowledge this coin at this time (now my wording on this might not be exactly what was said but when it was all said and done my coin was graded through anacs. Now from what I understand anacs grades harder than pcgs is this true ? Also do you think this could effect the amount of money I could get because of where it was graded? I read about the auction in florida where this same grade of coin sold for $20,700 but it had been graded through pcgs. People don't get me wrong i feel great that I am one of around 15 or 16 people to make such a find. Any input on what to do now i.e. go ahead and sell or try to get pcgs to look at the coin again? Any advise would be welcomed.thanks for taking time out to read and help.chris ...

 

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First off post pics... secondly, yes, send it to PCGS as it will bring much closer to that $20K figure in a PCGS holder... probably wouldn't bring $10K in an ANACS holder...

Oh and :welcome: to Cointalk!

 

As JJK stated, we need pics of the coin.

 

:welcome: to cointalk

 

Great find!!!

The coin dealer probably tried to get the folks at the PCGS booth to verify on the spot that it was a CAM; which is what they meant by they can't verify or acknowledge the coin at that time; at their booth at the coin show.

Yes it will bring more $ in a PCGS holder, so I would recommend submitting it to PCGS or NGC.

-LTB

 

where did you find it trying to figure out how its uncirculated

 

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Well congratufreakinlations! That looks like the real deal to me! Must be nice to find a car in your pocket change eh?? I would say get it certified by PCGS and it should bring over $20K~

 

Uncirculated

My uncle past and he had a few rolls of pennies with a lot of other coins.

 

Congratulations!!!!!!!!!:hail:

 

^ the 2 post above should not be together kinda grim sorry for your uncle and nice find

 

Send it to PCGS. Or sell it. either way you will come out way on top considering what you gave for it. But sending it to PCGS is probably the best route to take considering that it most likely will give you a larger return just for being in one of their holders.

 

Before you send it to PCGS or NGC, call them and ask if they grade and then label the coin as you want it labeled. If you are going to sell it, contact Heritage or Teletrade and see what they say as they often reholder coins if they think it will increase the chance of a large selling price. Contrary to what many say, PCGS and NGC do not grade and slab most variety and error coins.

Jim

 

PCGS will certify this coin. Like another person stated. Call Heritage if you are seriously interested in selling it. If you need some more advice about what to do with this car in your pocket change PM me.

Tom

 

PCGS will get you the most money if it stays graded MS64RD. If they deem it not an MS64RD and it gets knocked down a grade, you will be risking thousands of dollars. PCGS slabs are more liquid than ANACS slabs and more people would rather purchase in a PCGS slab, but a coin with so few known examples would be fine in any slab. If it were me, I would keep it where it is.

You can still try to sell it though Heritage or Teletrade, just put a reasonable reserve in place to protect yourself if there are not many interested buyers.

And by the way.....congrats on the awesome find! And congrats on the knowledge of what to look for!

 

The (RISK)!!! Tell me about it.

I want tho thank u for your input, I have done a lot of research and much thinking on this. from everything I have gathered im finding out that pcgs grades coins higher most of the time and that anacs is a lot tuffer on grading its coins . I even read somewhere that people buy anacs coins with a good grade for a cheap price then send them to pcgs and they are graded higher, and then they sell them for a good profit. but I know there is always a chance that it might not.on the other hand I spoke to pcgs and they only have two coins that have been graded red with both graded at a ms64 so if mine does grade higher it would be the highest graded coin of that type and I could get even more than $20700. Trust me im not trying to be greedy it is only a penny but to say that you found the highest graded coin in that type is something that I could tell my grandchildren about. Anyway I thank you once again for your input but I have decided to take that chance and have pcgs grade the coin. Chris .....

 

Well your theory about the grading companies is a bit off... Typically ANACS will grade coins higher then PCGS or they are a bit easier to get a higher grade from, as where PCGS/NGC's grading standards are much stricter so while the coins may or may not grade MS64 through PCGS, whatever it grades will be more realistic then the ANACS grade.

All that being said we are talking about a penny from 1992 so in reality most grading companies should grade this coin about the same... if it was a AU bust half or something you would see a greater difference in the overall grade. I think the grade is probably pretty darn close to accurate, but at the end of the day PCGS is a much more respected third party grader and will bring top dollar for your coin, ANACS is considered a second tier grader and thus will bring significantly less money.

Also I believe the highest graded one was an MS67 which sold on ebay a few months ago for like $25K? Correct me if i'm wrong~

 

Welcome to CT!

Congrats on your find....simply amazing. If you're just planning on selling the coin, I would NOT reholder with PCGS. By far, your best bet is to send it to ha.com. I would call them, explain the situation and let them handle the sale. They will reholder in a PCGS slab for you if they think it will help the sale. Joining PCGS, going through all the hassle and paying a bunch of money is a waste for one coin when a place like Heritage will take care of all that for you.

Even though the pictures are blurry, the coin looks to be easily MS-64/65 RD. ANACS, PCGS and NGC all grade about the same on memorial cents in general. In fact, I've seen ANACS be tougher than PCGS many times. Nonetheless, PCGS coins usually bring more money. And, PCGS will DEFINATELY attribute the variety on this rare coin. Your dealer was mistaken, I think what he was telling you is that they would not attribute the coin "at the show" and you'd have to send it in.

 

Tom I did speak to a pcgs rep and explained what happend he said tho get the paperwork that was filled out at the coin show give him the # and they would not have a problem grading this coin for me.chris

 

I did contact pcgs I was told they have only graded 2 red and both received an ms64 grade the ms67 could have been red/brown or brown I did not ask what the overall highest grade they have given out for the cam 92d. Chris ..