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How often are cracked slabs reported so they are removed frok the record?

Started by MarkVIIIMarc,

14 posts in this topic

Raisethis2

Raisethis2

Posted
Posted

You can bet your bippie that if the census says there are 1,000 of something in MS 65 that probably half don't really exist anymore if the coin is over say, $500. Those labels are put in the trash by people playing the upgrade game.

 

What these people fail to understand is that by not turning in the labels from crack outs the numbers suggest there are more coins in a given grade than really exist, reducing the value.

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BillJones

BillJones

Posted
Posted

There is not much of an incentive to send in old slab labels. The last I heard you get 50 cents apiece for them. That would not cover the cost of postage and the envelope if you cracked just one.

 

A previous post is right. The population reports are a screwed up because of crack-outs. I know of one 1854-D Three Dollar Gold Piece that was submittted five times to get it into a Mint State holder. That makes the coin look a lot more common in AU than it really is.

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KeyMan64

KeyMan64

Posted
Posted

2010

1931-D PCGS MS67FB POP 40 with 0 Finer.

Price Guide was about $2,950

 

Shortly prior to that +Grading was Introduced!

Everyone and their grandmas cracked everything out

at least a few times, or so it seems to me anyway.

 

Today

1931-D PCGS MS67FB POP 53 with 3 Finer in 67+FB.

Actual auction value today is between $900-$1500 for a 67FB!

 

Who here really thinks that an extra 40% (16 coins) were located in some long lost

original bank roll? Many people think that really nice examples are easy to come

by based on the current pops. That just is not the case as there are plenty of

dark, crusty, ugly and those lacking luster examples.

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Nutmeg Coin

Nutmeg Coin

Posted
Posted

I used to do some crack outs, always returned labels from the ones that mattered. I even had some Anacs and Icg labels at an Ana show returned at the show and the lady at the table looked at me with a puzzle on her face, I guess they don't get that many. At this point I do one submission, virtually no crackouts unless I think the grade is wrong; I don't send the coin back to the same service. Maybe eventually in the internet age they will have some type of verification of population figures at the high grade and value levels. As long as owners could provide a scan of the coin in the current holder populations would be closer to reality.

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PerryHall

PerryHall

Posted
Posted

The current population reports are extremely inaccurate and it's impossible to fix it. Some individual coins have been submitted dozens of times especially when the value of the coin increases significantly in the next higher grade. After numerous submissions many coins eventually reach the highest grade attainable and are frequently over graded. That's when the crack out and resubmission cycle ends. These coins are called "coffin coins" for a reason.

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Conder101

Conder101

Posted
Posted
Maybe eventually in the internet age they will have some type of verification of population figures at the high grade and value levels.

Only way to ave the pops accurate would require scanning/digital fingerprinting of every coin submitted AND the pops would have to start over again at 0 when the all coins scanned protocal was implemented. (Listen to the registry people scream about that when all their grades for pre-scanning era slabs they paid big bucks for are no longer recognized.).

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