So this seller has 30 listings for cleaned low grade Columbian exposition half dollars. Why would anyone send these in? They were obviously cleaned. Didn't need pcgs to tell them that did they really? Turnaround times are high because of things like this? Really, pcgs should have body bagged these...
And of course, waiting out there are the multitude of unknowledgeables who read that and in their brains it translates to "Wow, saves me the job of cleaning it and look, it has been officially declared to have very good details"
Because some people just don't know any better.Its like those that think a parking lot coin is $100 and they've hit the jackpot!!!.
They likely got a hoard of them, and submitted them in bulk with zero pre-screening. I believe that dealers can submit anything over 100 coins for a bulk submission, and the fees are significantly cheaper. You get a couple of MS, couple of AU, you're doing ok, and the rest just get dumped.
I have been told by several dealers who send in "crap" that it only sells quickly if it is slabbed. I have heard there is one service out west that slabs very large submissions of low value coins for $6.
I always assume it was special to someone. Like their grandad gave it to them or something. Then eventually folks pass away and estates get split up and settled. Idk… that’s a brand spanking new holder though. Clearly not the case here.
You can also sometimes attribute this to someone with no knowledge seeing that PCGS coins sell for more.
But, but, but, people keep telling me that coins have to be slabbed for them to be sold for the highest amounts.
Considering the first question a new poster will ask us is if he should slab his coin and 99 out of 100 times our answer is no…… So granddad passes. He had a thing for Colombian halves.. The family members that inherit them don’t know any better so they clean and submit them not knowing they ruined the coin and dropped a bunch of cash on submissions that they won’t recover….. Every time I go to a coin show I buy slabbed cheap coins to bring back for grandkids. I surmise it happens all the time.
I found and posted one in junk silver I had for a long time a few months ago on CT and it looked better than what PCGS graded.
No they shouldnt have. Why should whatever customer get treated differently than anyone else who submitted a cleaned coin?
Completed eBay listings show a couple of AU details PCGS Colombians auctioning in the $16-$21 range plus 5 bucks shipping. The seller is probably banking on someone being dumb enough to pay even more for a BIN. For a bulk submission it may be a money maker. Still seems like a waste to me.
Well idk if you have heard but Albanese is only going to slab details coins in the new CAC grading service IF he feels they are collectible. I'll be interested to see how coins like this get treated if they got sent there. I'm sure he wouldn't deem these collectible.
So I just couldn't take it anymore. I messaged the seller asking how these ended up going to pcgs. If he answers I'll post it!