Winning at the NGC Crack-Out Game posted by 00001AAA Coins

[CSJournals-migration]

1922 Gold $1 Grant Star Coin upgraded to MS 66!

 

Back in 2010 I acquired at auction a Grant Star $1 Gold coin graded MS 65 (286937-004) in a old no-line fat NGC holder. Under magnification the coin looked better than a MS 65 to me. While only a little over 5,000 1922 Grant Star Gold dollars were minted, today an MS 65 is an average grade with a wholesale value around $2,000 and worth about 2,732 points.

 

Selling the coin was an option, but I'd likely lose money after the fees. Submitting the coin in the holder to NGC for a re-grade was also an option, but I've tried that and failed several times. The coins come back in a new holder with the same grade. The better option seemed to be to crack-out the coin and submit it new to NGC for grading. For 1922 Gold $1 Grant Star coins there are over 300 each of MS 64, 65 and 66 graded coins. It seemed like a good possibility that my nice MS 65 would come back as a MS 65+ or even MS 66. If it dropped to a MS 64 I wouldn't lose much money. The risk seemed to worth the effort.

 

After carefully cracking out the coin I sent it in to NGC to be graded. I am now the proud owner of a NGC MS 66 Gold $1 Grant Star coin (2608339-001) in a new holder. Same coin as before but with a full point upgrade. The wholesale value is now up to around $2,300. Not bad really, but there was some risk.

 

See more journals by 00001AAA Coins

[coinman_23885]

Congratulations! If one searches carefully, there are all sorts of treasures in TPG plastic awaiting the keen observer.

[RichH]

Congrats ! As the saying goes, "no guts, no glory"

[Kaiser14]

Good call.

[johnny9434]

you did real good with that, congrats.

[MW-migration]

No one here commented on how if the exact same coin can receive different grades from the exact same TPG company, then in what way are these companies legitimate? Completely artificial market... or NGC needs to hire better, more consistent graders. Either way it is basically all a big joke to me...

[drew|werd]

MW,

 

I think everyone understands your stance on TPGs from your previous posts. Why do you have to troll and ruin yet another thread?

 

Most people understand that grading is subjective and not an exact science. You will get varying grades especially when the coin was originally graded 10+ years ago.

 

Congrats to the OP on taking the chance and getting rewarded

[The Fielding Collection]

Wonderful coin congrats on the upgrade...Mike

[aegraber]

Congrats on your success. I have a question as I have considered this myself. My question is does NCG know about the crack out after the fact so the population statistics can be updated or does the population for the old grade stay the same?

 

 

[MarkFeld]

Congrats on your success. I have a question as I have considered this myself. My question is does NCG know about the crack out after the fact so the population statistics can be updated or does the population for the old grade stay the same?

 

 

The NGC population data will be updated to reflect one less MS65 and one additional MS66 example.

[RichH]

Mark,

 

My understanding from the original post was that he cracked it out and submitted raw. If that is the case I don't think NGC would know to debit the MS65 population.

 

The submitter can certainly (after receiving the MS66 grade), hand or call in (whatever the verification procedure is) to alert NGC of the crackout from the 65 holder.

 

Best Regards,

 

Rich

 

 

[MarkFeld]

Mark,

 

My understanding from the original post was that he cracked it out and submitted raw. If that is the case I don't think NGC would know to debit the MS65 population.

 

The submitter can certainly (after receiving the MS66 grade), hand or call in (whatever the verification procedure is) to alert NGC of the crackout from the 65 holder.

 

Best Regards,

 

Rich

 

 

Thank you Rich and I apologize to everyone for having given an inaccurate answer.

 

If a coin is resubmitted in the NGC holder, the population data is changed automatically. However, in the case of a coin being resubmitted out of its original holder, like this one, it is up to the submitter to provide NGC with the original grading label. At that point, the population data will be changed. I'm not certain what happens if the submitter doesn't have the original grading label.