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<p>[QUOTE=&quot;jaceravone, post: 2677746, member: 9474&quot;]Hello Friends Old and New,</p><p><br /></p><p>This is an Intro to the Morgan Re-Grading Challenge Part I.&nbsp; What is this you ask? First you need a background story.&nbsp; Many, many moons ago a young stupid me started to crack all my coins out of the slabs and put them in books.... you know, Morgans, Walking Libs, Peace dollars, Franklin halves all the way down to quarters, dimes, nickels and cents.&nbsp; For some of you older guys you may recall some posts about this many years ago here on CT.&nbsp; I tried to collect raw when I could, but sometimes I got a good deal on a slabbed coin and bought it. Well, as the years continued, so did my habit of cracking coins out and putting them in books.&nbsp; The books looked incredible. People would ooh and aah over them and this made me feel proud.&nbsp; But then I got to the point that I needed some higher end coins and I had to make a decision to sell off parts of my collection to fund these new purchases.&nbsp; And what did I find out....you guessed it....raw coins are not as valuable as slabbed coins.&nbsp; Now the loss of money hurt but I justified the loss by the time spent being the custodian of the coins.&nbsp; Some losses were great, but the Good Lord has blessed me and I was able to absorb the losses.&nbsp; Now I am at the point where I have sold off nearly all my collections to focus on two big collections - my Morgans and Walking Libs.&nbsp; As I slowly age, you start to think of things down the road such as how am I going to divest my collection and who is going to get it?&nbsp; A while back I started to realized that I will have to eventually spend some money to get the coins regraded or just sell as is.&nbsp; Taking a loss on a Washington Quarter is nothing compared to taking a loss on a 1893CC Morgan for example.&nbsp; That would be a biggie so I made the decision to set aside some money and send all my Morgans back into PCGS for &quot;Re-grading&quot;.&nbsp; This is not a cheap en-devour so the lesson here is unless you have tons of money or just don&#039;t care....don&#039;t crack the coins out of the slabs!!!! You will lose in the end.</p><p><br /></p><p>This is where the challenge comes in.&nbsp; Out of the 40 coins that I am sending back in (All Morgans by Mint Mark, plus major varieties from 1878-1886), only 12 were purchased raw. So a majority of coins were graded by third party graders.&nbsp; 16 were graded by PCGS, 8 by NGC, 3 by ANA/ANACS and 1 by ICG.&nbsp; I want to see how accurate PCGS is in re-assigning the grades to the coins...especially theirs.&nbsp; I also want to see how well I did when I purchased those 12 coins and did I buy correctly.&nbsp; I did this a while back with a few of my commems that I cracked out and was trying to resell.&nbsp; Some of you may remember my post about this.&nbsp; Some grades got bumped, some lowered but most stayed the same. 2 of those commems came back cleaned when they were previously graded.&nbsp; Ugh, That sucked.&nbsp; So the first batch of Morgans is packed and ready to go out in Monday&#039;s mail.&nbsp; When I get them back in, I will share with all of you the final results.&nbsp; Then I will send out round II which will be 1887-1921 Morgans and later post those results.&nbsp; Thanks and wish me luck![/QUOTE]</p><p><br /></p>

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