Has anybody ever pondered the idea of taking how far the coin market has gone but with paper money? I sometimes wonder what it would be like to play the "crack out" game but with paper money. One problem I can deduce about doing the "crack out" game is not being able to feel the "Crispness" of the bill itself or examine it closer for alterations, however, the same applies to coins in their holders as well. The paper money market also is still growing it seems and getting more (pardon the inv$stment term) "lucrative". CAC aspect: if people pay a premium for coins holdered and "approved" by CAC why would they not do it with paper money? Please comment on this and share whatever your opinion may be. Happy Collecting! -Matt Draiss
Matt, would you mind telling me what the "crack out" game is? Sorry for the newbie question, but I'm not a coin guy... or a TPG guy... Dave
The "crack out" game is where dealers or advanced collectors take coins in TPG holders and re-slab them to try and get an increase on the grade number because the dealer or collector thinks that the coin qualifies for a higher grade and was undergraded. The risk/reward factor is a tough thing to calculate because on some coins the difference in one number can mean hundreds or even thousands of dollars in profit, but on the other hand you could waste not only time but money as well and have your coin stay in the same holder with no upgrade. Here are some examples: 1. I own an 1884 V nickel graded MS-63 slabbed by Ultra Crap graders. I feel the coin can be upgraded to an MS-65 because the strike is good, the luster is good, and the overall condition is very sexy, so I re-send the coin to Ultra Crap and it comes back an MS-64 again, what do I do? I resend it in 3 more times and finally get it back as an MS-65 coin, and I take a few hundred dollar profit in the increase in value. 2. I take the same coin slabbed by Ultra Crap and send it into Random Dude and His Son graders and it comes back an MS-65 on the first try. Why? Because they are a little bit more "liberal" or easy going and not uptight on grading. Note: the values and companies above were clearly to educate and were intended to be humorous at the same time, and that coin is really out there but the values and grades were just examples.
Thanks! So, sort of the acknowledgement that enough folks will buy the holder and not the coin? One issue with holders on banknotes is that they will make it hard to see some key attributes of the note. Whether its printed intaglio or lithographed is tough to spot some times even with note in hand, but under a layer of plastic it could be near impossible. Whether the note's been pressed might be tough. Some repairs are much easier to see if the note can be held in just the right position to get the light dancing across the surface. Etc, etc. I have seen mis-cataloged notes in holders (typically from eBay sellers who would rather believe the TPG than some random dude emailing them about the mistake or checking for themselves) as well as plenty that I'm sure would be a surprise if pulled out of the holder. So I'm 100% sure that in the paper money area, the "crack out" game can be played and is quite workable. Dave
Paper money is traceable using serial numbers. TPG's list serials as well. Using the same TPG for the crackout game wouldn't be too successful, IMO.
Ahhhh but you see it can be done, if PCGS says the coin is only an MS-64 and I think it is an MS-65, there could be a shot they will upgrade it; the mood of the grader and how much sleep he got last night can even play as to how your coins get graded anymore.
Oh, right, got it! By the way, could you mail me the address I was supposed to send the check for that bridge? I seem to have lost it. Dave
I have thought about this as I have many CAC'd coins. Because there are so many more dimensions to a paper note than a coin, I think it would be very difficult to assess a note in a holder. Maybe those who have a lot of experience can, but how can one tell the level of embossing on a note without removing it from a holder and rubbing your thumb on the surfaces? I dont think it is possible. Thats why I dont think it is feasible for there to be a fourth party grading for notes like there is with coins.
Hopefully they don't ruin paper money collecting like they did with coins by addopting similar marketing games and turn it into a speculation shenanegan. Why ruin a good thing so a few can play profeteer? Guy
