Reslabbing

Has anyone profited consistently from reslabbing from one of the lessor firms to one of the more prominent grading firms. I have seen some very nice coins that are being sold at a discount because of the grading firm in which they are slabbed. In many cases the discount far exceed the reslabbing costs to one of the better known firms.

 

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It is certainly possible to make money this way, but it can also be risky. Some coins are in lesser holders for a reason: they are problem coins that wouldn't get a straight grade or might even be counterfeit.

You can always try the game with some less expensive coins or an amount of money that you could afford to lose and see what happens.

 

I have two at NGC right now that I'm attempting this on. I didn't necessarily buy them with that intent I got them because they were deeply discounted compared to the same coin from PCGS/NGC and when they arrived they looked every bit of the grade on the slab. I also had other coins being sent in regardless so no shipping charges involved to have them graded it's a cheap attempt for me.

If the one hits 65 which I'm confident it will I'll have basically gotten it for $100+ off.

 

I highly recommend NOT trying a PCGS>NGC or NGC>PCGS crossover.
Neither like the other and you will most likely end up with a lesser grade.
If you want to do a crossover first do a crackout then submit to the other TPG.

As for going from a "lesser firm" take GDJMSP's advice.

 

How can you state that you got it for "$100 off" when you haven't sold it yet?

Chris

 

How can you state without equivocation that, "I have seen some very nice coins that are being sold at a discount because of the grading firm in which they are slabbed"? Maybe that "discount price' is what they should have sold for in the first place. How do you know that those coins wouldn't sell for the same "discounted price" even if they were in a better slab?

Chris

 

Well I'm not planning on selling it not looking to profit. If it hits 65 I will have got the coin for over $100 less than what NGC 65s were going for at the time. It's still staying in my collection it will just be a nice deal I got just because it was originally in an ICG slab.

But hasn't graded yet so just my opinion on the grade until then.

 

I hate the word "got".

 

There is generally a reason why those coins aren't in reputable slabs....

 

This is a question I've encountered many, many times over the years, and is one usually asked by someone new or newer to the hobby who is either looking to make money, or doesn't want to pay the price of admission for the coins they want (aka "deal seeker"). This may not be the case with you, but please ask yourself this: if "consistently profiting" was as easy as simply buying basement slabs and resubmitting the coins inside, why is such an obvious opportunity being ignored, not only by dealers, but also the collectors paying up for coins on top tier holders? The answer is quite simple, and that's as with most everything else in this business/hobby, knowledge is key. Can coins be found in basement holders that are genuinely worthy of resubmission? Absolutely, but they're also generally few and far between, so if one doesn't know what they're doing, and possess the knowledge and talent to reasonably grade to whatever top TPG "standards", it's nothing more than a trap.

 

This one was in a NTC 66 holder, I cracked it and it graded 65+ at PCGS. SO it's possible, but it's also possible to buy a cleaned coin that looked good.

 

Dumb question of the day. If I were to decide to have a slabbed coin re-graded. Would I crack it out and send it, or send it in the PCGs slab to NGC (or vice versa)?

 

Nobody mentioned crossovers and that's simply not true.

 

Now you're also talking about crossovers
If you want to cross a coin over, you'll need to keep it in its current holder. If you want to have it graded w/o the TPG considering its previous grade, then crack it out first.
Let's stop it here as this thread is about making profit from basement slabs (PCGS is not yet at that level

 

Sorry, that question just popped into my head, so I asked. Wasn't trying to derail the thread.

 

ICG is usually pretty much spot on 90-95% of the time and their grading is consistent. Can't say the same for ANACS. Neither ICG nor ANACS carry the same wight as PCGS or NGC in the market and usually sell at discounts compared to the aforementioned. All others.....stay away unless you really know what you are doing.

 

Not sure I agree on ICG being spot on 90-95% of the time. My experience is they are usually not on target. It's often a half grade or maybe even a full grade off only, but that can still be very significant for some coins.

As a newer collector, I recommend sticking with PCGS and NGC, unless there really isn't much of a price difference between grades (but can still be an issue with problem coins sometimes, but less often than the grading being slightly off). Even then, keep in mind there is a quality difference even within a grade by a single grading company; something that is often not recognized by new collectors for a while.

 

The operative word is YET! It's standards have declined significantly in recent years as they have chased the slab market rather than the standards market.