Anyone want to share any crack outs that were questionable? Seeing this coin on GC reminded me of one of my own (example to follow in next post). The GC example was an OGH 66 CAC that upgraded to an NGC 67 star. The price went up from $990 to $1,111.50, but I imagine the seller expected better. They almost certainly lost money with grading fees and GC selling fees. Plus an older holder was lost. https://www.greatcollections.com/Co...gan-Silver-Dollar-NGC-MS-67-226-152-133-Toned https://www.greatcollections.com/Coin/1166769/1881-S-Morgan-Silver-Dollar-PCGS-MS-66-CAC-OGH-Toned
My example is an older NGC holder that I cracked to send to PCGS. It lost the old holder and CAC; the grade remained the same. I did get a fancy photo and the old NGC holder was in less than ideal shape (notice the hologram being damaged). I imagine my fate with this coin would have been similar as the GC example in the first post if the coin was offered for sale soon after the original purchase (but it was not and a bit of time has passed since the sale-I'm keeping this one in my collection for now).
It’s even a worse when you look at it without the buyers fees for the selling side where it went from 880 to 988 and if it was the same person that paid 990 plus shipping for the pcgs cac who then consigned it again after the submissions the loses really add up.
This is why I am nervous about playing the crackout game. Here's one I've contemplated trying... It's an unattributed 1938-D/S in 67 CAC housed in an old NGC fatty. My hopes are that it would get the attribution and hopefully the + grade. As a 67 guide is $900.00 and 67+ jumps to $3500.00. I'd just hate to lose the fatty holder and end up with an attributed coin in a newer holder in the same grade.
@jtlee321 the crackout game is certainly a risky (and expensive endeavor). I went from never submitting a coin to trying my hand at several crackouts the last few years (I believe all have been features as guess the grade threads here). It has been a mixed bag with a few decent wins, some losses, and the rest being around the break even point. I try to not send anything where the downside risk is big. I also don't like to destroy old holders (with the NGC example above being the one exception). With your example, I'd be torn and likely lean towards not cracking. I believe you can now do crossovers with a higher grade as a minimum but the odds are likely not great to be successful.
It really is brutal to get that close and not get the extra bid or two to save that fee. Many years ago I actually had one land right on 1000. 1c more and it would have saved me the fee which I would have happily given the bidder the 1c to cover it if I could have lol
Here's one of mine that I would NEVER play the crack out game with. I would hate to lose that holder.
I think that would be a federal offense to crack that one. I know it's illegal in at least 48 states. Punishable by public caning...
My feeling is, unless there is a significant price difference (As in double the value), a reasonably high grade coin is better off remaining in its older holder. I will give an example, during the reveal of one I have posted right now, and it was interesting.
I would never and have never cracked-out a coin. My fear is the ultimate bad scenario ... it might come back as fake, ungradeable or details. I have submitted coins in holders to PCGS for regrade or reconsideration (these are different!). I've had the most success with coins that were originally graded years ago. Cal
3.0 holders are indeed not allowed to be cracked (or crack at the extreme risk of losing a solid premium),
