Back from NGC: 1938-D Buffalo Nickel

[thabeast]

I picked this one up at my LCS for $12 dollars. I sent it in for grading and want to know how you guys would grade against NGC. I'll post the grade in a couple of days. Thanks.

 

[physics-fan3.14]

Anything less than 67 is not worth submitting. This coin is nowhere near 67, so I'm perplexed at why you sent it in.... but I'm sure NGC appreciates it.

 

I'd call it 64 with a shot at 65

[thabeast]

Anything less than 67 is not worth submitting. This coin is nowhere near 67, so I'm perplexed at why you sent it in.... but I'm sure NGC appreciates it.

 

I'd call it 64 with a shot at 65

 

Man, those are harsh words physics! Although I understand your point, I submitted it for multiple reasons.

 

Overall, I was happy with my entire submittal package. Most coins came back as expected or higher. Only a couple of disappointments.

[physics-fan3.14]

They weren't intended to be harsh words.... Simply a comment on the financial prudence of sending in mid grade coins. Its a cost vs. value question, and I don't understand why you made the choice you did. In 66, the coin is worth $75 or so, in 67 its worth $190. You spent more on grading fees than you did on the coin, and the coin isn't worth it. Wasn't intended to be harsh, just a statement of fact/opinions.

[Walkerfan]

MS 64 or 65 sounds right.

[brg5658]

Anything less than 67 is not worth submitting. This coin is nowhere near 67, so I'm perplexed at why you sent it in.... but I'm sure NGC appreciates it.

 

I'd call it 64 with a shot at 65

 

Jason, you know very well that coins are not always submitted to be graded only because of their resale value. Family heirlooms or coins with particular sentimental value are submitted all the time regardless of their potential resale value. The "worthiness" of a coin submitted for grading is for the submitter to decide only...

 

That being said, I think you're being overly harsh on this one. It looks 65 all day long to me, with a substantially good chance at MS66 IMO.

[coinman_23885]

66

[coinman_23885]

I'd call it 64 with a shot at 65

 

Remember that the photo is huge and it can easily exaggerate marks. The fields also look pretty clean. I think you are being harsh; I see nothing that should keep this out of the gem range.

[physics-fan3.14]

 

Jason, you know very well that coins are not always submitted to be graded only because of their resale value. Family heirlooms or coins with particular sentimental value are submitted all the time regardless of their potential resale value. The "worthiness" of a coin submitted for grading is for the submitter to decide only...

 

I'm fully aware of that, but he said he bought it at the shop for $12.... no sentimentality there.

[brg5658]

 

Jason, you know very well that coins are not always submitted to be graded only because of their resale value. Family heirlooms or coins with particular sentimental value are submitted all the time regardless of their potential resale value. The "worthiness" of a coin submitted for grading is for the submitter to decide only...

 

I'm fully aware of that, but he said he bought it at the shop for $12.... no sentimentality there.

 

I didn't say the only reason someone may have a low dollar coin slabbed was because of sentimentality. I said the worthiness of a coin submitted for grading is for the submitter to decide only. Comments like "why would you submit that coin" after it has already been submitted and graded are not useful. He asked what you would grade it, not whether you would have sent it in.

 

Again, just my opinions. And, I still think this coin is higher than you're guess of MS64.

[thabeast]

 

Jason, you know very well that coins are not always submitted to be graded only because of their resale value. Family heirlooms or coins with particular sentimental value are submitted all the time regardless of their potential resale value. The "worthiness" of a coin submitted for grading is for the submitter to decide only...

 

I'm fully aware of that, but he said he bought it at the shop for $12.... no sentimentality there.

 

I didn't say the only reason someone may have a low dollar coin slabbed was because of sentimentality. I said the worthiness of a coin submitted for grading is for the submitter to decide only. Comments like "why would you submit that coin" after it has already been submitted and graded are not useful. He asked what you would grade it, not whether you would have sent it in.

 

Again, just my opinions. And, I still think this coin is higher than you're guess of MS64.

 

You are correct brg5658. I've never understood why some people feel the need to poke at other people on message boards. Not just this one, but any that I've been involved in for the past 15 years. It never really bothers me and I usually dish back what is handed to me. I also don't think there's bad intentions most of the time, and don't think physics-fan3.14 was 'trying' to be rude. Although in this instance his comments came across as being unnecessary to me.

 

Back to the coin... so the Buffalo graded MS66 at NGC. I feel good about sending this one for sure.

 

I sent this in because I felt like it would grade atleast MS65 with a shot to go higher and I thought it was worth the risk. Sometimes we need a comparison/reset on grading, and I used this Buffalo to compare against.

 

[coinman_23885]

I would have phrased it differently, but there is nothing wrong with what Jason said. For this issue, unless the coin is an overdate, it is not worth the fees financially in submitting it unless you are doing bulk submissions at $10 each and you submit a 100 of them at a time. Even then the return on the investment financially speaking is low.

 

I also think Jason was justified in assuming that there is no sentimental reason in submitting it. If the OP was building a set (e.g. for the Registry), then it still would be more cost effectively probably to buy one already graded and be guaranteed to have the coin in the desired plastic.

[brg5658]

I would have phrased it differently, but there is nothing wrong with what Jason said. For this issue, unless the coin is an overdate, it is not worth the fees financially in submitting it unless you are doing bulk submissions at $10 each and you submit a 100 of them at a time. Even then the return on the investment financially speaking is low.

 

I also think Jason was justified in assuming that there is no sentimental reason in submitting it. If the OP was building a set (e.g. for the Registry), then it still would be more cost effectively probably to buy one already graded and be guaranteed to have the coin in the desired plastic.

 

Do you guys really not get that some people slab coins for reasons other than "financial return"? We're not all vest-pocket aspiring dealers. Some of us like the "hunt" for MS coins at shows raw and like to "test" our grading skills against the pros. Others may just like to have a coin in their collection that they personally found raw at a show or from some other excursion.

 

The hobby isn't about "making money" or "resell value" or "cost effectiveness" for all of us.

 

 

PS -- I am not aware of any "overdates" for the 1938-D Buffalo Nickel. There are some RPM (repunched mint marks), which I presume is what you are referring to.

[thabeast]

I would have phrased it differently, but there is nothing wrong with what Jason said. For this issue, unless the coin is an overdate, it is not worth the fees financially in submitting it unless you are doing bulk submissions at $10 each and you submit a 100 of them at a time. Even then the return on the investment financially speaking is low.

 

I also think Jason was justified in assuming that there is no sentimental reason in submitting it. If the OP was building a set (e.g. for the Registry), then it still would be more cost effectively probably to buy one already graded and be guaranteed to have the coin in the desired plastic.

 

I guess, expect his comment didn't have anything to do with a simple thread asking to grade against NGC. I only posted it to add some activity to the boards. I'm second guessing that at this point.

 

Lastly guys, I'm a successful business man and I could give two craps about the $25 dollars it cost me to submit this coin. Let's get off it.

[thabeast]

Do you guys really not get that some people slab coins for reasons other than "financial return"? We're not all vest-pocket aspiring dealers. Some of us like the "hunt" for MS coins at shows raw and like to "test" our grading skills against the pros. Others may just like to have a coin in their collection that they personally found raw at a show or from some other excursion.

 

You get it brg5658. Yes, the 'hunt' is alot of fun.

 

Fyi, I have a 5 stack of modern Jefferson Nickels that I'll be submitting. They're not worth too terribly much, but I'm hoping to get some FS that come back. It's just fun. Hopefully I don't get a lecture on the reasons I shouldn't have slabbed them if I end up posting some on the boards down the road.

 

Lastly to be clear, I'm not upset with physics. I do think he could play nicer though. We're all grown ups and this stuff is small in the grand scheme.

 

As always, thanks for the input and help

[coinman_23885]

 

PS -- I am not aware of any "overdates" for the 1938-D Buffalo Nickel. There are some RPM (repunched mint marks), which I presume is what you are referring to.

 

It was a typo. I meant the repunched mint mark pieces.