PCGS "Old Green Holder" - Price Premium

About ten years ago, I went on a bit of a buying binge seeking out PCGS "old green holder" coins. Mostly Morgan dollars, but not entirely. Like many collectors, I held (I still do, actually) the belief that these older slabs are worth more than a coin of the same grade in a newer holder. The question is, "How MUCH more are they worth?"

I am considering selling a good bit of my collection. It's not like I have that many of them; a couple of dozen. Most are MS64 common-date Morgans. These same dates seem to be worth roughly double in MS65 as compared to MS64. So I was thinking about asking, say, a 25 percent premium. In other words, Numismedia FMV for an 1881-S MS64 is $65. In MS65, that same date is $125. I was thinking of asking $80 for it. Easy enough.

However, I have several OGH coins with much greater pricing disparities between the current grade and the next one higher. For instance, I have a 1964 PF69 Kennedy. FMV for PF69 is $110. However, PF70 is $1250. What do I do with this one? Should I crack it out, resubmit it, and hope for a PF70? Perhaps. Using my 25 percent premium formula, we're only talking ~$140.

I've got an 1884-CC MS66 Morgan and two PF68 1960 Franklins with similar differences in value (6-8 times) between the coin as graded and the next higher grade.

I'd just as soon sell these coins as they are. Then again, I'm not in that big of a hurry and it's not like I really need the money. Is resubmitting them a long shot? Or is it worth a crack (no pun intended)?

 

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We'd need to see great photos of each coin before we could even opine as to whether you have a shot, which of course, would always only be an opinion.

Regarding premiums, OGHs do seem to command a premium. If you're selling on eBay, you could always put the highest amount you think you could get and put in an option to make an offer and see what comes up.

Regarding submissions, I'll need someone more knowledgeable to chime in, but I'm under the impression you can say not to crack a coin out if it does not receive a higher grade, and you simply pay for them to look at it and send it back.

 

But... the ones in the market all this time have mostly been already picked over, tried for upgrades and found wanting... i.e. C coins in the A-B-C scale.

 

Would a submittal to CAC make sense for this? I imagine the combination of the OGH and a gold bean, if given, would make for more $$.

 

The recent "new green p c g s slabs" To celebrate the anniversary, In some cases is going for a little premium. Just depends on the individual who wants or willing to pay the extra premium.

 

There is a small but seemingly steady flow of new-to-market OGH.

Gramps submitted all his coins in 1986 or so, and now in his 80s they're being sold for the first time.

But the dealers who buy those collections get first dibs and are experts in what will upgrade... there go the As.

So do you really trust the patter about new-to-market and are you feeling lucky with a B coin?????

 

Too bad the TPGs don't keep track and publicize information about each registered coin regarding whether it has been resubmitted, reholdered, etc. Of course we all know why they don't do that don't we.

 

Great info, one and all. Many thanks.

I've always thought of "certified" grades to be iffy to a certain extent. Regardless of how many experts you show a given coin to, grading is terribly subjective.

It would be interesting to take a slabbed coin (OGH or otherwise), crack it out, resubmit it, see what it comes back with. Then crack it out a second time and resubmit it again. With what degree of certainty would you say that it will receive three identical grades?

 

Good question. Another test would be to send the same coin to PCGS, NGC, and ANACS.

 

Thanks for the info. I figured that this had been done before but didn't think to Google it. Of course, grading standards seem to be a moving target and it would be interesting to see how gradeflation would factor in today.

As stated many many times before, buy the coin, not the holder.

 

What matters to those who know how to grade is, "What is the REAL grade? not what does the slab say or, "Does it have a sticker?" ON AVERAGE the green label holder coins were more conservatively graded, BUT some of them would get a "details grade" if they were cracked out and resubmitted.

As for common date Morgan Dollars, they won't bring big premiums unless they look like iron clad upgrades, and next grade up has a big premium. Ditto for the CAC stickers. Those are the price for more expensive coins, not "stuff."

 

I played that game once.
If I recall correctly when Coin World did it SEGS won.

 

In my observation, nice looking coins in OGH's do, on average, sell for at least a bit more on eBay, etc.

But as has been said, the coin is what matters. If the OP's 64 graded Morgan's are actually 64.8's, they might be worth $80.00 to a knowledgeable buyer, right?

 

People only stand to lose money when they only think about coins in terms of commodities. Each coin is unique. Some are overgraded. Some are undergraded. Some (most) are spot-on.

As @GDJMSP has stated above, the majority of the undergraded OGHs have already been picked over and resubmitted.

 

Sometimes I look at coin auction prices for coins with CAC stickers vs those without and scratch my hairless head trying to figure out why that little sticker seemed to add so much value over non stickered examples. I may pay more if the coin came with a box of chocolate.

 

I wonder what the TPGs will do when they hit the limit ( reduction of regrades, or top picks types of coins as except for counterfeits as no new 1884-$ morgans are being made and the internet /TV get rich programs made many more people aware of value on certain coins and there are far more billionaires with investments to make) ,
Start a new Professional Super non- academic grading scale and go to 100 from 70 with pure gold stickers for suckers? It will be interesting and probably some TPG will go back to " Classic original coin grading" and pooh pah the high grades ?

Jim

 

The Sheldon scale always has been religious garbage.
Grading services wield way, way, way, way too much influence in a scheme that is utterly subjective- with literally hundreds of millions of dollars swirling around it- to put any faith in the integrity of the process.

Regrettably, they've become even more necessary with the rise of high quality forgeries but if the magical difference between a 63 and a 64 cannot be quantified in any objective way and results in $15,000 price difference on the basis of the 'word' of a few human beings who aren't accountable to anyone.. don't expect that process to have much integrity.

Oh, to have the inside line at one of the aftermarket grading services...

 

Most likely they have NDAs and since they only look at it for about 10 seconds, I doubt they remember it after they do the next coin. If the finalizers OK it ,unless it is more than a grade off probably , that's it. Until there is a TPG that only certifies the authenticity by known experts at a lower price than the other majors, they are still the only game. IMO, Jim