Resubmission Misery

[supertooth]

Many times I have read this comment----" Just resubmit it several times [ 2 to 12] in order to get the "CORRECT" grade. Granted, I have heard it more frequently on the PCGS boards. But, am I missing something here? Should we not be getting the "correct" grade----the first time that we pay our money?? Why should we need to pay multiple times? Even allowing for it being a subjective opinion, we should not have to resubmit so many times? Also, if the submitter is not an expert in the area, and receives back an undergraded slab, isn"t that "unfair" to him if he does not know that the coin is undergraded? Would welcome your thoughts. Bob [supertooth]

[jom]

Should we not be getting the "correct" grade----the first time that we pay our money??

 

Of course, but that is not necessarily what people are looking for. Many are looking for the "highest grade possible". They are fishing for a grader that'll give them the upgrade they are looking for. In that light, would you then say that having to send the coin in many times as "unfair"?

 

jom

[cointagious]

[cynicism] Shouldn't you be willing to pay extra and share the wealth from that upgrade?[/cynicism]

[Oldtrader3]

Bob: I'm not sure that a "correct" grade exists. Most collectors have an opinion. However, I tend to select coins carefully, before forming an opinion, and make visual comparisons to other coins of the same grade before considering resubmission. I never go public with these resubmissions and I review the submission very carefully to learn from the experience. I don't resubmit anything 2-12 times. Also, I'm not sure what Contagious' remarks mean?

 

Interestingly, I read an article 20 years ago about grading results of several coin series by so-called experts. Several individual coins (of several series) were graded by several well known, experienced dealers, all of whom were generally considered "expert" graders. I do not remember how many dealers were involved, but it was more than 7-8 individuals. Of all the coin series graded, the Pratt designs had the most grading range variability. The expert's grading range for of each of the several Pratt quarter and half eagle example coins was AU58 to MS65, with a mean grade of MS63. This was a range of (7) grade points for each coin by expert graders!! Given results such as these, is it any wonder that there are differing opinions on grades.

[IGWT]

Of course, but that is not necessarily what people are looking for. Many are looking for the "highest grade possible".

 

Exactly. Too many collectors and too many dealers are too often looking for "high" grade instead of the "right" grade. The label prevails over the coin itself.

 

I enjoy the benefits of a TPG opinion -- what I take as second opinion instead of the opinion -- when purchasing a coin (even if I disagree with that opinion -- I have some coins that I think are undergraded and some overgraded by a point or two). I still can't fathom, though, why a knowledgable and honest dealer (and experienced collectors) would pay me less for my coins if I were to crack them out of their slabs. Why have we (and especially dealers) substituted TPG opinions -- which are based on a quick look at a coin -- for our own; why do we lack the confidence to exercise our own judgment?

[TomB]

I agree that the correct grade should be achieved through the first submission, however, with the speed and carelessness that the TPGs use in grading coins I am not surprised that a healthy minority of coins are missed.

[cointagious]

Also, I'm not sure what Contagious' remarks mean?

 

 

I agree that the correct grade should be achieved through the first submission, however, with the speed and carelessness that the TPGs use in grading coins I am not surprised that a healthy minority of coins are missed.

 

 

Why do the 'misses' seem to inure to the benefit of the grading company? Meaning the tendancy is to undergrade putting the submitter in the position to resubmit.

[Oldtrader3]

IMHO, PCGS grades according to who you are, not what you are submitting. Joe Blow collector gets undergraded routinely by PCGS. NGC just seems to vary with changing "market grading" standards and changing market demand for coins (slow market-low grade, hot market-higher grade).

[KurtHorn]

In a perfect world you're right. But as we know it's not a perfect world. Like it or not many coins are tweener's. Say an MS 65+++ or MS 66- NGC has a nifty way of dealing with that with the star designation. Other TPG's don't. If this is a coin where the value jumps thousands of dollars between grades then it becomes financially worthwhile to crack and re-submit.

 

The silly ones are the ones that submit for a re-grade in the same holder.

 

-Kurt-

[BankNote1]

I have submitted coins to NGC in NGC holders for upgrade and many have been upgraded!!!