I am currently looking at a 1905 Quarter Eagle in a mid-eighties PCGS holder grading MS64. Those familiar with Heritage know that they have excellent magnification of their offered coins, which leads me to a possible conclusion. Or in this case, dilemma. These old holders are known to house under-graded coins, which the one in question almost certainly has been. On the other hand, these old holders seem to have a market of their own commanding a premium at times. So, if I win this auction, should I upgrade it to a gold shield with the hopes of a MS65/66 or leave it as is? For the record, it's not for a retirement hedge like most people buy them, just enjoyment.
Tough to give an answer without seeing the coin. I'll guess it will need to upgrade 2 points to make it worth changing the holder.
That's really one of the great myths. The new holders are FAR superior optically and protection wise but there's plenty of old holders that would downgrade and most would grade the same, there's no assurance of an upgrade
Leave it be...........unless stellar photogs are posted here. Then, and only then, can we help you with your quandary.
Plenty of old "white" holders out there still lol... I'm pretty sure this one would come back better still debating if I'm going to send it for recert and it's been 6 months lol
I would just add to that most that are worth it. A lot of mercs would upgrade but aren't worth the cost as you know. That said I'd even go a step further and say that most of the ones really worth it at a major auction house have been tried. Edit to add I don't consider a + an upgrade as that wasn't an option back then
The "old holders are under-graded" bit is a myth. Yes, they are known to have undergraded coins as you say, but most of these have already been resubmitted for their bump or for a gold sticker, with those receiving green stickers having the sticker removed for resale, while mediocre coins in rattlers are everywhere. As of when I write this, the high bid is well over 64 money with 3 days to go. The coin in question does look it should grade 65, but I don't think 66 is in its future. If I were to win this lot, I'd probably send it for a CAC gold bean, and the bids seem to indicate some level of confidence in getting one. If no gold, then reconsideration with a minimum grade of 65. I personally hate rattler holders, though, and wouldn't lose sleep over losing the holder in exchange for a higher grade.
I appreciate all the replies. But it has been my assumption that grading criteria has evolved and become more refined since the early days. Perhaps where competition between graders is concerned? I also look at the number of coins graded then as to now for comparison when assigning a grade. Again, the more coins one looks at the more the grade becomes refined. Or so my thoughts. Either way, I'm satisfied with the coin as is based on my personal eye appeal. Hopefully I'll acquire it for around $500 and submit it to CAC.
I'm not very astute in gold, but does it look puttied? Something just doesn't look right to me about the color in the fields;
His even pre-dates the OGHs if its from the 1980's...those were white or whitish and dot-matrix like from 1986-1989: https://www.pcgs.com/holders OGH's didn't show up until 1989.
When this coin is done (and good luck with the auction, LB !), if those of you who know this coin type can chime in with what a normal 64 or even 65 in a recent slab would have commanded compared to this one. Should be interesting for us newbies.
