Coin grading wsrning

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
I sent out my 1828 capped bust quarter to be graded.
It came back AU55 and I was stoked cause that values it $2900+

However,
I didn't know if it is not graded by one of the top companies like PCGS,NGC or ANACS no dealer,auction or even eBay will accept it as a certified coin.
So please don't make the same mistake I did and waste $43

Don't get me wrong I was excited at the AU55 result at first..until a few people informed me about this issue..at first I didn't want to believe it and thought "they are just trying to down my find"
But they were 100% right and after telling them they were wrong I realized the truth and not only apologized but thanked them for letting me know to avoid this mistake in the future.

So if your new to coins like me please beware of any 3rd party grading companies.
There is a reason the top graders charge what they do and they will give you the highest resale value accepted by any establishment both in person and online.
If this is the wrong place to post please let me know
I felt this issue is something I needed to share

Here's a pic of my graded coin that although it's rare,graded and beautiful can't be sold or traded until a top company regrades it to ensure an honest value and condition.
 

Attachments

  • P_20151029_151951.jpg
    P_20151029_151951.jpg
    629.5 KB · Views: 103
  • P_20151029_152005.jpg
    P_20151029_152005.jpg
    620.5 KB · Views: 112
  • P_20151029_152052.jpg
    P_20151029_152052.jpg
    575.5 KB · Views: 127
  • P_20151029_152134.jpg
    P_20151029_152134.jpg
    483.4 KB · Views: 103
  • P_20151029_152600.jpg
    P_20151029_152600.jpg
    627.2 KB · Views: 95
OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Thanks
Shame I didn't know about grading companies.
Hoping for a good grade cause I really like the design on this one
 

TheHunterGT

Bronze Member
Feb 2, 2015
1,246
1,847
Central California
Detector(s) used
Anfibio Multi - T2 Classic - F75+ - G2+....and MANY more tested and reviewed.
Primary Interest:
All Treasure Hunting
Hard lesson to learn....but I thank you for passing it along to others. Knowledge is useless if not shared. It is the one thing nobody should die with.
 

slink

Full Member
Dec 12, 2014
188
186
Primary Interest:
All Treasure Hunting
You still win you have a very nice coin! You learned a lesson at a reasonable price and shared the lesson.
 

kingskid1611

Gold Member
Feb 23, 2015
8,127
6,664
Oklahoma
Primary Interest:
All Treasure Hunting
That is an expensive lesson to learn but at least you now have future knowledge. I tried to ebay one years ago that I got from a cleanout and found out. Now I just keep it for myself. You have a beautiful coin there, and I would keep it unless you need some cash.....
 

bigfoot1

Silver Member
Nov 1, 2011
3,765
3,399
so.cal.mtns.
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
garrett,minelab,fisher,,,atp current weapon of choice
Primary Interest:
Metal Detecting
she's a beauty.thanks for sharing,I too learned this years ago.all good...education is always a good investment
 

pepperj

Gold Member
Feb 3, 2009
36,991
136,863
🥇 Banner finds
1
Detector(s) used
Deus, Deus 2, Minelab 3030, E-Trac,
Primary Interest:
Relic Hunting
Thank you for posting this up as it will help many in the future if they're considering getting a coin graded by a third party.

So are you going to just leave it lay, get it regraded, and if you do will you just leave it in the holder for shipping purposes?
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
That is an expensive lesson to learn but at least you now have future knowledge. I tried to ebay one years ago that I got from a cleanout and found out. Now I just keep it for myself. You have a beautiful coin there, and I would keep it unless you need some cash.....

I plan on selling it so I can add a CTX3030 to my arsenal lol
I have 2 people interested...one wants an even swap...the other wants a regrade before they buy it.
It is a beautiful coin but I can't stop wanting a CTX lol.
So after I get it appraised Monday and I'm sure I won't be giving either interested party an unfair deal, I hope to start next season here in NH with a CTX3030
I want the CTX for land and keep my AT Pro for water
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Thank you for posting this up as it will help many in the future if they're considering getting a coin graded by a third party.

So are you going to just leave it lay, get it regraded, and if you do will you just leave it in the holder for shipping purposes?

Ya I'm leaving it in the holder...I've been told the less it's handled the better.
Just hope my journey to keep an honest deal by regrading doesn't get me lower than an XF45...XF45 keeps me around $2000 and I'll have no trouble walking into the local store dropping 2k and my AT Pro for a new CTX...however if it comes back AU55 that puts it at $4000-$4200 according to PCGS current price guide
 

NC Digger

Bronze Member
Oct 16, 2015
1,377
2,095
Gaston County, NC
Detector(s) used
Safari, Excal2, CTX, Nox 900
Primary Interest:
All Treasure Hunting
I sent out my 1828 capped bust quarter to be graded.
It came back AU55 and I was stoked cause that values it $2900+

However,
I didn't know if it is not graded by one of the top companies like PCGS,NGC or ANACS no dealer,auction or even eBay will accept it as a certified coin.
So please don't make the same mistake I did and waste $43

Don't get me wrong I was excited at the AU55 result at first..until a few people informed me about this issue..at first I didn't want to believe it and thought "they are just trying to down my find"
But they were 100% right and after telling them they were wrong I realized the truth and not only apologized but thanked them for letting me know to avoid this mistake in the future.

So if your new to coins like me please beware of any 3rd party grading companies.
There is a reason the top graders charge what they do and they will give you the highest resale value accepted by any establishment both in person and online.
If this is the wrong place to post please let me know
I felt this issue is something I needed to share

Here's a pic of my graded coin that although it's rare,graded and beautiful can't be sold or traded until a top company regrades it to ensure an honest value and condition.

Very nice coin! Just so people know, I do collect slabbed coins. ANACS is one of the oldest grading companys. But somehow they fell from grace. PCGS and NGC are the top two grading companys in that order. ANACS is the third. I have many ngc's and a few anacs, but no pcgs graded coins. PCGS are over priced in mho. If you really want to send in a coin for cleaning and grading I would choose NGC. Very honest and reputable company. Now as far as price goes, there is a dealers sheet which prices coins. You could probably get that top dollar price but most collectors that collect slabbed coins will only pay about 1/4 the amount as listed. Just something else to think about. Again what a beautiful coin! Congrats and HH!
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Thanks for the info.
On a side note I found out to be in eBay's top approved grading list, the company has to grade 50,000 pre 1964 coins per year.

So that is why some graders can't sell on eBay.
It doesn't reflect their quality as much as their quantity to determine whether or not they make the eBay list.
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Getting an appraisal this morning from a rare coin dealer.
If results are good a local detecting guy said he would offer a new E-Trac or CTX3030 provided the value is there.
I really want a CTX so I may have to use My AT Pro to sweeten the pot lol.
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Update appraiser said it's value is $2000 but a dealer will only buy at a percentage of the total value.
Still happy I know where I stand and next time I'll ask an expert first lol
 

against the wind

Gold Member
Jul 27, 2015
24,797
24,976
Port Allegheny, Pennsylvania
🏆 Honorable Mentions:
1
Detector(s) used
E-trac, Excalibur, XP Deus, & CTX 3030.
Primary Interest:
All Treasure Hunting
I sold a 1916d Mercury that was slabbed and graded MS60 by ANACS .
At the time, the Red Book value was $8,000. Because it was graded by ANACS, I could only get $3,000.
A PCGS grade is a Gospel grade. No one will dispute it.
One thing that you must be careful of is selling a coin that has been recovered from soil. When grading a coin, it will be examined under intense magnification. If porous indentations are discovered, it will be graded and the words, "Environmental Damage " will be added to the grade.
The "Environmental Damage" tag will drop the coin value to 10% of the Red Book value. eg: $2,000 coin grade value at 10% = $200)
 

Last edited:
OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
I agree...while it was worth $4000 originally due to them knowing it came from dirt before I told them, they said it is max $2000 due to minimal environmental surface being detectable.
He suggested a coin show or auction and told me the grade won't matter cause a lot of collectors are the "buy the coin not the slab" type
It was a lot to soak in but the guy was honest to a point saying almost all dealers will only buy a quick turn around profit and sometimes when people rush to sell they take a considerable loss on the value.
If he hadn't had a beautiful 1828 25/50c he said he would have made me an offer but nowhere near full value so he could retain a profit.

So I guess I'll just be patient and deal with the current offer on the table then revisit the others after lol
 

jerseyben

Gold Member
Nov 18, 2010
5,165
2,176
NJ Pine Barrens
Detector(s) used
T2 SE
Primary Interest:
Other
The days of "book value" are long behind us. The only thing that matters is market value. Something is only worth what someone is willing to pay for it. Period.
 

Captain Caveman

Silver Member
May 14, 2015
2,513
2,234
Madison, MS
Detector(s) used
Fisher F75SE, F44, F2 and CZ-20. Minelab E-TRAC and Go-Find 60. Tesoro Tejon. BH Quick Silver.
Primary Interest:
Other
What a beautiful coin. I also collect slabbed coins, but I only deal with PCGS. I'm sorry that you wasted your money, but it looks like the lesson only cost you $22. It could have been worse. Best of luck to you!
 

OP
OP
W

Waynos

Sr. Member
May 28, 2015
266
721
Keene New Hampshire
🥇 Banner finds
1
🏆 Honorable Mentions:
1
Detector(s) used
Garrett AT Pro
Garrett AT Propointer
Lesche Sampson T shovel
Primary Interest:
All Treasure Hunting
Thanks guys it is an awesome find even if it came with a free lesson hahaha
 

Top Member Reactions

Users who are viewing this thread

Top