Cheerios Dollar Slabbed at ICG

Discussion in 'US Coins Forum' started by dennis5151, Oct 5, 2022.

  1. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    My short term goal is to have one MS68 Cheerios Dollar graded by each of the top four graders.

    I had two PCGS MS68 dollars and sent one via FedEx to Tampa, Florida. It arrived with Hurricane Ian on the 27th. Trust me, I was nervous over the coin's safety until ICG re-opened on Friday.

    ICG graded the coin MS68 as expected and shipped it back via FedEx. I experience excellent communications with ICG regarding the receipt and shipment of the coin.

    Included with the coin was a thumb drive with pictures of the coin. This was a unexpected pleasant surprise. See pictures from the thumbdrive.

    ICG Cheerios Obverse MS68.jpg ICG Cheerios Reverse MS68.jpg
    Indianhead65, Kurisu, AdamL and 2 others like this.
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  3. charley

    charley Well-Known Member

    Curiosity only and no other reason, was the piece removed from the PCGS encapsulation before forwarding to ICG?
    Paddy54 likes this.
  4. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    My thoughts exactly. ???
    Paddy54 likes this.
  5. Paddy54

    Paddy54 Hey brother can you spare a half dime?

    Top 4 TPG ? " Theres a top 2 "and 2 wanta be's and to remove a coin from an PCGS or NGC to slab it in an Anacs or ICG you lost the entire value of the coin in grading fees , & postage . 99.9 % of dealers will tell you for value as well resale its either PCGS or NGC . I known dealers who will buy an Anacs or ICG coin only at rock bottoms prices,and will crack out the coin if worthy to put it in an PCGS or NGC slab.
    Take an 1938 D ms 67 buffalo nickel to a dealer in all 4 of the company's above slabs...see which of the 4.... the dealer has an interest ,or will pay you an honest value.
    Most all the dealers I know would buy a 38 D ms 67 in a pcgs or ngc slab in a NY second...the other two
    They would pass or offer a lot less money.
    PCI the same I had an 1953 proof Franklin in Proof 67 in an old PCI holder and the first words were I will need to crack it out and have it none of my customers will touch it in that holder.
    Why do you think That only pcgs and ngc slabs are accepted to send in for a green or gold bean?
    They dont accept Anacs or IGC .
    Lastly I will say this yes a Cheerio $ does have value...but it doesn't comand the value of a semi key Morgan, or Peace dollars. My last submission to Anacs was for" two free graded coins".....and still cost me close to $50 in shipping cost to return . As they were sent in at a show and got a free 1 way ship. It is about resale and value.... placing a $100 coin in a slab at cost of grading as well return or shipping is just bad youll be under water in the coin. IMHO and 50 + years collecting.
  6. Paddy54

    Paddy54 Hey brother can you spare a half dime?

    I have to share this story about 15 years ago I worked with a guy from another company. We serviced food stores , trained employees, did store sets.
    While taking a coffee break in the stores break room I noticed a sticker on one of the employees lockers.
    It was a sticker for the Cheerio give a way of a cent or dollar. I said to Ed look at that...his reply look at what? The stickers on that locker..... I then explained to him about the 2000 promotion of the SAC and the cereal company.
    He's like oh yeah I know all about those. I was like you do? Do you collect coins?
    No he sez... I love a kid My mom could keep a box in the house. I found like 4 of those and some pennies too! I ate them for breakfast lunch and snack before bed.
    Then I asked ???? Ed what did you do with those dollars.
    He say well I had brothers and sisters I grab the box and have a bowl and snatch any of the coins before my siblings had a chance....yeah but Ed what did you do with those dollars? Oh I buy ice cream at school after lunch. Ugh!
    He did bring to show me like 5 of the cents still in the black pkg. Wrapped in plastic they came in....He said I just throw these in the drawer...and I knew exactly what he was talking about...the drawer that drawer in the kitchen that every thing that has no every day use goes.... yup the junk drawer. ;)
    Kasia likes this.
  7. -jeffB

    -jeffB Greshams LEO Supporter

    He did just say that he wanted an example in each of the four slabs, not "I want to see how much I can flip these for". It's not like he drilled the coin to make it into a necklace -- it's still the same coin, in the same condition, just different plastic.
  8. Paddy54

    Paddy54 Hey brother can you spare a half dime?

    As well differ values... for the same coin plus the fact going from a PCGS slab to a IGC slab.... ?
    That doesnt make dollar's or sence.
  9. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    Thanks for the interesting comments.

    I did not crack the slab. I set a minimum grade to match the PCGS grade. A non-slabbed coin has a higher chance of damage. Also, a loose Cheerios Dollar is in danger of being rejected by grading companies. You need to know the current policy before submitting a loose Cheerios Dollar to PCGS or NGC.
  10. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    LOL. Nothing has to make sense in the warped world of a hobbyist.

    The answer here is to finesse the collection, at any cost. It will be up to my grandkids to whine about any loss of value. Most likely they will crack the slabs and buy ice cream.

    Why would someone nitro a Pinto? Why would anyone restore a 1973 Gremlin or a Pacer? Why does my neighbor make knives when you can buy a razor blade knife for $4. The man spends an hour or more sharpening a knife, I can change out my razor blade in ten seconds. Again, LOL.
    Mainebill and -jeffB like this.
  11. charley

    charley Well-Known Member

    Thank you for the reply.
  12. Paddy54

    Paddy54 Hey brother can you spare a half dime?

    Well again LOL as its a fact that a fool and their money shall soon part;) As far as someone putting nitro into a ford pinto.... well my answer to that is...on the day that God gave out brains....that person thought God said" Trains" and evidently got on the wrong one!

    But again I once had a customer who had eyes tattooed on her eye lids.... again I cant fix stupid just makes me laugh.:)
  13. baseball21

    baseball21 Well-Known Member

    Doesnt change the fact that its now worth significantly less. Most people arent into the idea of devaluing their collection intentionally, but its really not much different than people that crack out coins for albums.

    To each their own as its someones collection to do what they want, its still good to point out the lost value for others that may not know any better
  14. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    Seriously. The coin is not "worth significantly less". It cost $70 total to get the ICG slab, not a great loss to a $11,000 coin (priced on PCGS). When my grandkids sell the coin, they can have it crossed back.

    I have advised the kids and grandkids on coin collecting: Buy key dates, buy the best you can afford, and ....

    "If you shake hands with a dealer, be sure to count your fingers."
    -jeffB likes this.
  15. baseball21

    baseball21 Well-Known Member

    Yes, yes it is. It will not get PCGS prices in any plastic out side of PCGS. It wont even get NGC prices. This is especially true true on 4 figure and up coins and the market shows up this time and time again and has been doing so for years and years
  16. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    Hey, baseball21. Thanks, for the info. It is FBO (for benefit of others) because I don't care about the dollar value ---- at this time.

    I am seeking to be a purist and improve the "nuance of the collection".

    I want to be "one up" on the rest of the Cheerios Dollars Collectors. If you want total dollar value as the measure, go with some rare errors. If you want nuance, go with some autographed slabs, a collection of each grade, and so forth.

    See where I am going with this???? I am operating on a different level than most. Lower ... most of the time. LOL

    I see your "Go Navy, Beat Army". I approve and I do care if you are ex-Navy. I am 9 years ex-Never Again Volunteer, Yourself. MM1. SS. Served three Nuc Subs as ELT. SSBN 636, SSBN 599, SSN 599. Tender duty on AS11 for a summer, RCSS on AS 13 for 30 miserable months of radiation over-exposure doing primary side steam generator inspections, and finally, a few months on AS37 waiting for that sacred EOE in April 1982. Was all for nuking Iran while on SSBN but I have mellowed a bit since then. Over two years underwater, not a record by any means but more than enough to drive me BA crazy. Not fun.... I did not collect a single coin under water. Go figure.
    Mainebill likes this.
  17. baseball21

    baseball21 Well-Known Member

    Its certainly your right to do whatever you want with your collection as is the right of anyone. I'm not entirely sure what seeking to be a purist is supposed to mean, but as far the nuance of the collection and wanting to one up the others the overwhelming majority opinion would be that you actually lowered it not upped it.

    The simple truth is theres no guarantee that it would ever cross back given that its been removed and handled again since the initial grading, and that it did cut a significant amount of the value. Its not to lecture you by saying it, but it is something to think about (especially for others to know) given that the lost value could have bought another interesting higher graded one. You could have actually sold that one and then used the money to finance the lower tier slab ones as well and had money left over, or maybe not left over if you bought several lol.

    PS I dont have high hopes for Navy this year against Army. They could be a surprise but they have been so bad this year to start it its hard to have high hopes. ECU was a good sign but losing to Delaware is like losing to a gloried HS team and was really really bad. Army isnt great either though this year. Air Force is almost certainly going to run away with the trophy before getting some rather bogus penalties the next four years by the NCAA
  18. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    That wasn't the point.
    I think that it should be a good grading set, and would enjoy seeing some detailed photos.
    All 4 tpg's in a 68', I would enjoy breaking down modern Luster with you @baseball21
  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    PCGS is the big dog on the block, a coin in this holder will sell for more and worth
    more, then over a similar product from NGC, thats not my opinion thats a fact !

    As far as the two others grading services, I seldom see IGC coins so I dont know
    how they even stay in business...LOL, as far as ANACS they stay in business by
    doing all the grading on the late night coin shows, so why would anybody send there
    coins to get graded by these companies, so they can get allot less for there coins
    when they go to sell.
  20. dennis5151

    dennis5151 Ole Grim and I are on first name basis.

    So.... I agree. Grading service selection is important for resale value.

    Thanks for the advice.

    Now, which company is the cheapest for authentication purposes only? For example you have only 15 days to get the coin to and from the grader in order to be within a 30 day return policy. Assume the coin is a $500 coin. Consider grader "membership fees".

    Further, if you despise USPS; which graders accept shipment by Fedex or UPS?
    -jeffB likes this.
  21. baseball21

    baseball21 Well-Known Member

    There's not actually membership fees for PCGS or NGC. If you join the right tier you actually save money on a submission with PCGS and you get an even money credit on the NGC one.

    They all take them from them that its just a slightly different process for sending. Fedex and UPS do not insure coins of any kind though whether you buy their insurance or not. USPS actually is the best
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