Is it worth more now? Eliasberg 1894-S Dime crosses to PCGS

I don’t understand what you are saying.

 

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I have a friend who lives in Naples, Florida. He buys insanely expensive coins, as his bankroll allows it. He simply won’t bid on NGC coins, for some insane prejudices. When I sold him a couple of my high end toners, I had to have them crossed to PCGS, before he’d even look at them. There are some collectors like that.

 

At that price level PCGS is by FAR the choice. Theres numerous stories of those coins being crossed over many of which immediately. While the grading fee isn't a big deal, the logistics are. A seller is leaving money on the table a lot of time not doing that before the sale. If its a 100 dollar coin doesn't make much difference, if its 5-7 figures especially 7 you want it PCGS

 

If I understand Camaro correctly, I think he’s saying that for example if you’re one of the top PCGS registry collectors and your current example of a rarity like that is PF63, you’re going to buy it in an NGC CAC 65 and cross it for your set, not walk away cause it’s not in a PCGS holder.

The CAC approval being in the equation prior seems like more of a factor there than the TPG slab.

 

PCGS and NGC take turns having coins like this in their holders, and now it's PCGS's turn to have this in theirs. They added the plus to the grade, which is largely irrelevant for this coin, to keep it in their holder longer.

 

What I was saying as have others is there are people that will hold back bids or even not bid at all if it isn’t PCGS. It’s real thing. A single bid at that level is what 100k, if even a single extra bid comes in from already being there they left money on the table. We’ve been seeing these immediately crossed for many years now.

PCGS dominates the high end of the market and it’s easy to see that from what happens. Would it have sold for more already crossed there’s a lot of market information that would suggest yes but of course nothing can be definitively said. What we can say is collectors of those coins do want PCGS when you look at what coins are where and what happens after big coins are sold.

 

My guess is most people who purchase unique pedigreed coins like this don’t care which company it is.

 

Then why do so many get crossed one way?

All we can do is look at the market and what we can see. What we can see says differently

 

I don’t know that a lot of coins like this do. This isn’t just some high end coin. Ultra high end coins are one thing...this is something different.

This is a very special coin much like a 1913 Liberty Nickel. Let’s say someone was buying the Olson Specimen of the 1913 nickel. It wouldn’t matter who graded it...the coin itself is so well known. This is the same kind of coin.

 

Several have

 

Can you provide some examples and the alleged increase in sales price?

 

Gee and I thought "BM" means Big Money Oh well

 

If you were talking about coins that are expensive, but not great rarities with impressive pedigrees like this one, I would agree with you. Hypothetically, if I owned a coin worth $50K, I'd want it in the best, most secure holder I could get, which, right now is PCGS, hands down. I also happen to prefer the look of their holders over any other TPG, and their TrueViews are nothing to sneeze at either. Neither the look of the holder nor the quality of TrueView photography would be a deciding factor for me, but the gold shield holder and the new chip certainly would be.

But, when you're talking about coins that are so well known, well provenanced, and literally known by name, I find it hard to believe the plastic around it has much, if any influence on any final hammer prices. Anyone who's bidding millions of dollars on a coin like this knows they can drop a trivial amount more money and get it in whatever holder by whichever company they want. I suspect that, even though such people may prefer one company over the others, most of those individuals use a trusted dealer as a proxy to bid in the live auctions where these coins are sold, and that their representatives are authorized to spend that money to cross the coin.

You might be right, given that it's been sold so recently. OTOH, I doubt the market for this coin is bigger than about 10 people in the entire world, and all you really need to do is get 2-3 of them interested in it to create a bidding war. And, if this coin were offered up at any reputable auction house, you can bet the auction house themselves would personally contact the 9 people besides the current owner who may want it.

I've literally never seen a great rarity like this sell for less than it did the previous time it was sold. There might be an exception or 2 out there that I'm not aware of, but there certainly aren't many. I see no real reason why this coin would be any different.

That sounds like a lot of money, but, when you factor in the amount of insurance PCGS would need to even handle a coin like that, plus the VIP express treatment it would undoubtedly get, it starts to seem pretty reasonable.

How high do your high rollers roll? Are any of them among the people who would be interested in a rarity like this? Anyone who would seriously consider buying this coin is going to be leagues above the relative schmoes who will bid on stuff like 1895 Morgans, MS pre-1833 gold, MS early large cents, and the like.

I would hope so. Like I said, I expect these people will be represented at auction rather than bidding themselves, and, if I were one of those people with millions to blow on a single coin, you can damn well bet I'd authorize my dealer representative to cross it into whatever holder I wanted, at whatever cost it would take.

 

I'm with whoever said PCGS might have certified this coin on the cuff just to get it into their holder and put that little + on it.

 

The other part is the buyer could simply be working on a PCGS registry set which only allows PCGS graded coins (I think this may be part of the preference of some "big fish" for PCGS graded coins). As to value I agree it shouldn't make a difference but that it may

 

It's easy to look up all of them that have been crossed.

 

I really hope this was a joke.

 

It's funny that PCGS doesn't list it in their census report or price guide.

 

Not a joke just idle speculation on the cross and why PCGS may be leading over NGC so just for fun anyway

 

At this point just have to lol at this thread, Crossing million dollar coins for registry sets and people that apparently struggle to look things up. It's like an alternate universe, but Merry Christmas to all and nothing said here really matters anyways. The market and facts are what they are enjoy the time off