Is it ever a good idea to submit a slabbed PCGS OGH coin to PCGS for a grade re-determination? Wouldn't that be a conflict of interest if PCGS doesn't want to come off as inconsistent? If it's deserving of a lower grade, then both the submitter and PCGS loses out (lower grade/value and inconsistent image, respectively). Does PCGS simply ignore the old grade and regrade the coins based on today's grading views (relatively more liberal grading assignments)? Or, does someone else crack it open and the graders never see the OGH slab and grade? Or, perhaps the premise is off base in that OGH grades aren't usually more conservative - is it more of a toss up than not, or is grade inflation a more apparent and likely outcome that's accepted and even expected by TPGs? Thanks in advance!
Coins sent in as REGRADE are cracked out automatically and the graders never see the original grade. After it is graded and holdered they compare to the original grade to determine if compensation is due from a drop in grade. (Or in the case today if a 1% fee is due from an increase in grade.) If it deserves a lower grade the submitter doesn't lose because he gets compensation for the loss in value. As for PCGS's inconsistent image, the only person that knows is the submitter. (unless he publicizes it)
Regrades are cracked out and sent through raw. The reconsideration process are only supposed to be cracked out if they upgrade. For real old holders most people will just use reconsideration and not risk the value of the older holder to get a new holder with the same grade unless it is about as obvious as an upgrade as there could possibly be. Most rattlers by now are the properly graded ones or the ones not worth the cost to upgrade with little to no price spread between grades. They have been picked over for a long time. A fresh one to the market has a better chance of being an upgrade candidate, but ones that have had several auction appearances in the last couple years have almost certainly been tried or no one thought it had upgrade potential. IMO there's a better chance of cherry picking varieties now than their are large value upgrades. Somethings now they're harder on than before too
My immediate mental response to the question: "Submit OGH to PCGS for Regrading - Is it ever a Good idea?" Is "Its a Coin Toss"
I have always cracked mine and then sent in raw it doesn't matter the age of the holder to me. I didn't know there was a reconsideration service available till 3 days ago... after reading CDB's thread. One coin I had to crack it twice to receive the upgrade.
I've usually cracked them too I got a couple I need to do that with. An au 58 seated dime that really could or should go 62-3 and a capped bust half that's in no way a au 50. As well as a reeded edge that's a strong 55 in a w 57 ngc holder worth cracking and sending to pcgs to try for a 58 and to lose the holder it's in
You make many good points. These are thoughts I had as well. The fact they have this reconsideration thing, and that it's generally known or said OHG holders were graded more conservatively, in my opinion delegitimizes Pcgs. Independent coin grading just looks more unstable and arbitrary, and submitters look like they're paying the price for this racket. This is just my negative view at the moment.
Oh my lord Thank You for this info! I hated cracking but did because reconsiderations before this had such low rates of success that cracking was your best bet. I've submitted at least 20 morgan proofs and all came back undergraded this year forcing me to spend now 3X the money for a fair grade. This is robbery of hard earned money. If members grouped together to fight this I'm sure something would happen. I don't know many members, but I would join in!
The PCGS holder known as "the rattler" was only used for 1 year, so there never was very many of them. And yes most of those were resubmitted for upgrades long before 2000 ever came around. They started resubmitting those before the 80's ended. But the one referred to as the OGH, Old Green Holder, that slab was used from 1987 until late in 1998. Coins in those slabs numbered in the millions, probably 10 million or more. But even most of those had been picked over and resubmitted 10 or more years ago. That said, your comment that those coins still in "rattlers", and they are few and far between, AND those still in old green holders which have been few in number for over 10 years, are usually not worth bothering with for resubmittal - is accurate.
There are plenty of instances in which it is a good idea, plenty in which it is a bad idea, and plenty in which it matters not. It really depends on the coin. The whole "conservative grading" thing has been played out, although I do have two $5 Libs that are locks for higher grades (45s that should be 53). Haven't bothered, since I'm not selling them at this time. If the holder is in bad shape and can't be restored, reholder it. I won't buy a coin I can't see through the plastic, and a dealer that tries selling such a coin loses a several reputation points. Old, red and red-brown copper benefits from old holders because it shows the coin is stable, but if the holder is beat up, it's still a deal breaker. If you have a particular coin in mind, post it here, and you'll get more specific advice.
Fight what, exactly? You are the ultimate judge of the up-grade worthiness of your coins. It is commonly suggested to attempt re-grade (or to break out coins from holders) ONLY if you're absolutely sure of a better grade.
