I currently have a fairly expensive Liberty nickel on layaway with a dealer that's graded MS-64. It's definitely a beautiful coin, and I've bought several coins from this guy before so I know he's on the up and up. But I find it very difficult to tell the differences between uncirculated grades (e.g. MS-63, 64, 65), and of course there's a big difference between the price of this coin in those grades. My question is, should I have this coin submitted to a service for grading? Since the coin's on layaway and I won't get it for two months anyway, I could ask the dealer to do this for me, or I could do it myself after I get the coin. Or, should I just trust my instinct that this coin is an MS-64 and not submit it for grading? (The benefit there is that I find it easier to store and display if it isn't in a slab.)
It really depends on you and the relationship you have with the dealer you mention. Some dealers are honest with their grades - some are not. So it is very easy to lose a lot of money very quickly if you do not know anything about grading yourself. But it sounds a bit like you may be somewhat apprehensive regarding this deal. Perhaps you should ask the dealer to try this. Have him submit the coin to the grading service of your choice before you complete the purchase. Agree ahead of time that you will pay for the grading regardless of the outcome. Also agree that if the coin comes back graded as he says it is - that you will pay the price he is asking. But if the coin does not come back that grade - you have the option to back out of the deal or request a lower price. If the dealer agrees to this - everybody's happy. If he does not - I would be sceptical.
8O Also realize if it comes back at a higher grade the dealer has the option of raising the price. What is good for the goose is good for the gander. I have found dealers get better service from the grading companies than individuals do. Realize all grades are subject to individual interpretation
Good points ... I'm not overly concerned that I'm getting ripped off. I have bought other coins from this dealer in circulated grades that seem very fairly graded (if undergraded). This coin is definitely a good looking coin -- great luster and eye appeal, I just have trouble telling single-point differences in the uncirculated grades and was wondering if I should get a third-party opinion...
I'd go for it. With attractive color, as you described, one way to preserve the coin is to have it holdered. Plus, what a neat surprise if it should return to you MS65? Unless you're dead set against slabs and the various Grading Services, I'd have your Dealer send it into PCGS. You're waiting on it anyway and by the time you have it off of layaway, it'll be returned freshly holdered!
PCGS is the most popular service today,but not surprisingly,they charge more. Both ANACS and NGC are well respected services.Stick with one of these three and you'll have a good experience in this transaction.Good Luck! ~ Jim
Just thought I'd give an update on what I decided to do. I think I'm going to submit it to have it slabbed myself after I get the coin. The main reason is that I recently purchased another coin from a different dealer at a coin show that I'd like to have graded (it was a very good deal and I'd like a third-party evaluation so I know if I should look for this guy at future coin shows). I figure I might as well do them at the same time. I'm thinking of doing the 1-year membership at PCGS. According to the website, for the $99 fee you get 4 free gradings (making it only $25 each), plus you get a free 2003 silver dollar to sweeten the deal. I have two other coins from the first dealer that are in uncirculated condition that I'd like to get graded, so I figure I can just do all four in one fell swoop. If these coins come back graded as I bought them, I'll have that much more faith in these dealers...
Good luck with the submission. remember that their are shipping/insurance fees as well. Do you have any pictures of the coins? it would be neat to see them before they get slabbed, we could also give you our opinions as to what grade you could expect.
Well, if you insist. :wink: I'd love to hear other's opinions. Here's scans of three of the coins that I'm thinking of having slabbed, and a different liberty nickel from the dealer that I have the coin on layaway with. Reply privately to me with your opinion (so as not to sway others), and I'll follow up with the results and the dealer's grade. When I do get these submitted and slabbed, I'll follow up with those grades too.
here are some more opinions on the grades http://forums.collectors.com/messageview.cfm?catid=26&threadid=166420 http://forums.collectors.com/messageview.cfm?catid=26&threadid=166418
Here's the consensous opinions and how the dealer graded these coins: 1821 50 cent Dealer: AU-50 Board opinion: AU-50 Most people think this would be bodybagged because of the rim nick and the brightness of the coin. I'll probably not submit this coin if it has a high chance of being body bagged 1928 $20 Dealer: MS-63 Board opinion: MS-64 (range from AU-58 to MS-65) 1876 20 cent Dealer: AU-55 Board opinion: Split between AU-55 and AU-58 Two people thought this coin had been cleaned. I'm not sure if it has or not, but it sounds like it may be worth submitting to be sure. 1903 5 cent Dealer: MS-64 Board opinion: MS-63 (only one vote) If I don't submit the half dollar, I'll probably pick another coin to submit (since I'll get four from PCGS) -- probably a 3 cent piece I have that I'm not sure I agree with the dealer grade...
