$5,000 impulse/instinct buy

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$5,000 impulse/instinct buy

I wish we all could do that!

 

Yes...that's what I meant.

 

Don't feel too bad.

No insult intended, but the OP is what I would call a vest pocket dealer. I doubt this coin is actually planned to stay in his collection, because if it were to I don't see a point to a regrade.

It was more of an instinct/impulse buy with $$ in the eyes for potential flipping. Again, nothing wrong with that for some people...but I don't think anyone would suggest an impulse buy in the $5k range for most collectors.

 

The coin is this yellow/honey color in direct light when viewing the mirrors, but it also has greens on the reverse that didn't show up. And if the picture is taken straight on, it loses it's honey color... at least, with my lighting set-up. But I've never really tried taking pics of proof coins before this one. Here are my pics straight on:

 

Diffused lighting may work

 

Proofs are just graded on a much tougher scale. edited

 

There are plenty of hairlines and other abrasions visible in a combination of the images that I think PR64 is where this one should be. Don't get me wrong, I would love to own a coin like this -- stunning detail and scarce -- but I personally think it was graded appropriately in it's original holder. And, a "+" being the only upgrade was not worth the resubmission -- but the "glamour shots" from TrueView may recoup the costs when selling.

 

In the price guide, the "plus" grade bumps it up $500 in value, so for the $115 I spent on it, it was in fact "worth the resubmission." As I said in my earlier posts, I believed the coin deserved a higher grade, and as it turns out I was right.... kinda.

 

Yes, so now you can move on to flipping it for or asking in your price $500 more for exactly the same coin. To me, it's all a wash in the end -- but I collect coins, not labels with printed numbers and "+" symbols on then.

 

That is a thing of beauty

 

I know you wouldn't, Doug.

 

The possible bump in value has more to do with the individual coin and less to do with what the price guide might imply. They bump may be more than listed or may be negligible.

 

Well... let the argument over PCGS regrade and reconsideration begin again.

 

It is a racket and a game. I'll be the first to admit it. Here's the ridiculous journey it took.
1. Purchased as PR64 CAM in a circa 2009 holder.
2. Sent in for reconsideration service and didn't upgrade.
3. Sent in for regrade service and upgraded to PR64+CAM.
4. Sent in for Show Regrade at the ANA and got a PR65 CAM

All told about $350 spent in fees.

 

Keep sending it in.

 

I'd leave well enough alone at this point they might downgrade it to a 64

 

On to CAC

 

It's not just a grading racket, but a grading ratchet -- as long as you keep reconsidering/crossing it instead of cracking it out, it can only go up, never down.

So, if there's a 5% chance that it will upgrade, and it costs $100 each time you try, but the bump in value is much higher than $2K, the numbers say that you should keep resubmitting until it bumps. Eventually, most such coins will have been resubmitted enough to reach the highest grade that they can possibly justify. And at that point, well, it's time to "renormalize" the grading scale based on existing populations... but until then, rational actors will keep doing the rational thing.

For the coin in this thread, @C-B-D and others correctly judged that the odds were much, much better than 5%. Congratulations on the upgrade!