Rare coin in a SEGs holder.....

So one of my local coin shops has a very rare 1918/7-S SLQ that's graded by SEGs as an AU50. It's a very dark coin, almost like a steel blue/grey color. I asked him if a dip would make it look better but he said he'd just leave it as it was and not mess with it.

I know this is a very rare expensive coin, but how exactly do you price this coin outside of the top tier grading companies?

What do you think the value of this coin is and how much should I expect to pay if I was going to buy this coin in this holder?

Would it grade at NGC?

 

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Larry Briggs of SEGS is quite knowledgeable, but if you ask around on their grading standards, you will not get the same confidence as with NGC and PCGS. Since it is basically a one man band operation in the final say on grading according to my knowledge of it, how would you know that they were making objective grading judgements?

 

I would be concerned that the toning is hiding some hairlines or other issues. AU50 seems about right. A scarce and desirable coin nonetheless.

 

I like the color actually if the price is right buy it and re submit it to a better company

 

As far as price I'd value it as genuine raw

 

I don't have any value guides around me that would actually tell me what a raw one of these would run, what would be a fair price to pay?

 

Not home right now out having a beer and I'm no expert on slq value as I don't collect them I'll look once I get home

 

It looks like they have a guarantee, for what it's worth:

GUARANTEE
“Resubmitting for Verification of Grade”

"If after SEGS has graded a coin, the owner of such coin believes that the coin has been over graded with respect to such standards and procedures, the owner may submit such coin to SEGS in its original SEGS coin capsule for re-grading.The fee for such re-grading shall be $20, and may be refundable.

"Provided that the SEGS coin capsule has not been damaged or tampered with, and provided that there are no typographical errors in the grade and/or other identifying information for the coin on the SEGS label, the original grade shall be masked and a re-grade shall be determined.

"If the re-grade is lower than that originally assigned by SEGS, SEGS shall pay the owner the difference between the fair market value of the coin at the newly established grade and the fair market value of the coin at the original grade. Fair market value shall be determined by SEGS based on recent actual transactions in the market place for coins of that type, variety, error, and/or grade.

"If SEGS determines the original information associated with the re-submitted SEGS encapsulated coin accurately represents the SEGS encapsulated coin, the coin will be returned to the customer and the $ 20.00 fee will be assessed. In this instance the client is responsible for all fees, shipping and insurance charges."
http://www.segsgrading.com/Content/Guarantee

Here's an AU for comparison purposes: http://coins.ha.com/c/item.zx?saleNo=1144&lotNo=4025

 

Latest greysheet as of my mail yesterday xf bid 6k au bid $9200 so gives you a ballpark

 

Is it accepted practice in a situation like this to ask the dealer for a money back guarantee in the event that the coin were to come back from PCGS or NGC in a problem holder? Guaranteeing a specific numerical grade would probably be too much to ask, but it really would be risky to pay anything close to full bid for a coin that may have problems.

 

I think that PCGS still is willing to examine non NGC coins for crossovers to a numerically graded holder, it might downgrade but they would guarantee that if they cracked it out it will get a number; NGC will only crossover PCGS coins.

The other route would be to run the coin by NCS or PCGS restoration and see with their high tech gadgets whether they thought it would be worth conserving; of course in that case you would pay a hefty percentage, NCS charges 5% of declared value and PCGS 4% of their price guide, high retail. It may be possible to get the surface issue off and get a real grade.

 

If it comes back in a problem holder then the product (the coin plus certified grade) has materially changed. As a dealer, I would tell someone that I would not enter into that agreement.

 

So for PCGS would it be 4% of the AU-50 or 4% of the value after it was regraded? Also do they charge the 4% if they can't fix the problems with the coin?

Huge drop from AU to XF....

 

Good questions; if they conserve and it ends up in an AU50 holder they would charge based on value at that point; weird thing here is NCS apparently would allow you to put a low value on the coin while PCGS would charge you the percentage based on their guide which is high retail.

 

Here is my question to you...are you happy with the price of the coin IF it was to come back graded by PCGS or NGC...even if it got a lower grade?

If that is the case, here is another option...does that dealer submit to PCGS or NGC? If so, perhaps you can work out a deal to buy it at the current price plus the grading fee if he submits it and it comes back with a grade. That way, you are not on the hook if it does not come back graded. If it does, he has a buyer lined up already with an agreed upon price.

 

The price isn't a problem as he's only asking $3,250 for the coin, but I'm guessing if I wanted to resell it, it might be hard to do in a SEGs holder.

If I remember correctly you can only sell a coin above $2,500 if it's in a NGC, PCGS, ICG or ANACS holder.

Just don't want to get stuck with a coin that I can't resell if I need to do so.