Noob question here. Why do I see NGC & PCGS slabbed coins with no grade? Some just say "brilliant uncirculated," but have no attribute indicating damage. Why is this? Thanks!!
They come from bulk submissions requesting a minimum grade, usually 68 or 69. Any coins not meeting the minimum get the BU grade.
Some dealers making bulk submissions specify a minimum grade, and in some instances when the grade is lower, they will request the BU designation rather than have the coins returned unslabbed. You will often see this for older coins (like the Morgan), and I can only guess that they reason that it would be easier to sell them in a problem-free slab than have a potential customer wonder what is wrong with it. Chris
Theres a much bigger picture here, let talk about bulk grading, (100 coin min.) 14 dollar a coin to grade (14x100=1,400.00) now thoses coin are also graded, as a bulk submission, which means, the best 1of the 100 coins, start the grading process, which will always be a high graded coin, and the other 99, ????????
I have my eye on my first CC Morgan Dollar. Obviously, since I have a limited budget next to some guys, I have opted for an MS-63 to MS-64 CC Morgan, from 1882, 1883, or 1884, as they are the most common and/or least expensive. I can buy an 1884-CC in an NGC slab as "brilliant uncirculated" for about $170. I am just wondering if I am selling myself short. Heck, for less than $100 more, I can easily find an NGC or PCGS MS-64 and play it safe. This is probably a smarter move since I cannot grade well enough to see if I think it will grade high, thus making it a "steal." I find this highly unlikely though. Thoughts?
The reason I suggested the Morgan as an example is that you will very rarely find modern coins (SQ's, Prez, Kennedy, etc.), which have very little value over face, worth even the BU designation. Dealers would be wasting their money. Chris
there's noway to have a morgan dollar go through a bulk grade, BRILLIANT UNCIRCULATED, from NGC means, CLEANED
Without seeing the coin, I'm guessing that the "NGC BU" is probably 60-62. Would you be happy with a coin having that many dings & nicks? I've seen a lot of these "in-hand" and when you consider that the major grading services are more lenient on CC's, I have to say that these can be pretty ugly. Chris
It does not mean that the coin has been cleaned! If it had been cleaned, NGC would have given it a DETAILS grade. BU simply means that the submitter did not want to pay the fees for having a lower grade slabbed. Chris
I know there was a time, NGC was cleaning coins for the coin vault, and customers were sending them into pcgs, to put in their holders, and most came back as cleaned
Here is the listing. I appreciate all of the advice gentlemen. http://www.ebay.com/itm/1884-CC-Mor...14?pt=Coins_US_Individual&hash=item27e67355be
I always hate it when photos are taken at an angle like this. It's too easy to hide distracting marks. Did you notice that this listing is an auction format, not a BIN? There is no guarantee that this will be the winning bid. Chris
I did notice. I have bought enough on Ebay to know the angled picture tricks. Thanks for all of the help!
It's not that I don't believe you, but it's like Rick Harrison from Pawn Stars says, "I don't trust anybody." Can you give us documentation of this allegation? Chris
I know who ever submitted this coin, submitted at least 14 of them, I also think the toning will give it an altered surface, from being cleaned, or artificially being toned
Anywhere from 60 to 64. Perhaps the dealer was looking for gems only and opted for cheaper BU label for anything that didn't make 65+
Hi everyone I am new here, been lurking awhile, but when I read this post I had to bite the bullet and join. This is incorrect information. Rick, TPGs are offering an opinion. When one crosses to another, one may find something the other did not, occasionally. Saying "ALL" of these are cleaned is completely incorrect.