Thoughts wanted: sending slightly dings/chipped sovereigns for grading

Discussion in 'Sovereigns' started by bubblebobble2, Aug 1, 2016.

  1. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Hi guys 'n girls... Indeed your thoughts on grading a slightly dings/chipped sovereigns.. Is it worthwhile? Or just waste of money... Do grading ppl will put these dings on grading label, just like those "coin has been cleaned" remarks...

    Thanks
     
  2. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Unless you want it (or need it) for authentication, why bother, ie your coin looks semi dodgy and validation is needed (though if it can be verified 22k gold and you can get spot for it, it might be cheaper than slabbing) or your coin is a special, so even after the cost of slabbing there is added value in authenticating it, like it is faint double strike coin that validates the extra premium than it could be worth it. Just make sure there is enough detail on the coin for NCG to recognises it.

    Otherwise if it is just a bog standard coin, which after simple visual or other test that most would agree/confirm as a genuine dinged sovereign, what is the point?
     
  3. nicwinner

    nicwinner Active Member Silver Stacker

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    agree with Ipv6Reda, unless you unsure if its genuine, otherwise it's just wasting $$. slabbed coins are very good at holding& increasing values if it is a rare date/type or at an extremely high grade (my personal preference will be MS63 or onward)
    and before sending a coin to grade you gotta consider
    a. freight costs return plus insurance
    b. what's grade/result you'll get and extra charges because of that grade
    c. re-selling prices worth to cover the above costs & your margins

    and this exclude membership fees. example like if someone send a ding sov to grade, the freights costs 100 return, 15 insurance, the coin cost 425, all up you're looking 540 AUD at least. if i were you i won't bother. :lol:
     
  4. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    As for sending it in... if you decide, ask around the forum potentially someone is a member and they can send it in a batch for a fair handling fee?
     
  5. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Thanks guys for all feedback so far....
    Picture tells a thousand words.. actual coin with those dings that I mentioned... thoughts on the grade if I wanted to send to grading....

    [​IMG]
     
  6. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    My initial though is aVF... could be aXF :D
     
  7. serial

    serial Well-Known Member Silver Stacker

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    vf, should grade no prob.
    subject to review of the other side
    pics please
     
  8. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Sorry for late reply serial. here it is
    [​IMG]
     
  9. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I don't know enough about grading but would it get a "good to great" grade without the dings?

    If yes, I wouldn't slab it

    I mean, would it have gotten xx66 (I know nothing about grading) but due to the dings it was labelled xx58 or even worse "damaged"?

    wouldn't that devalue it more (that is if those dings actually do)?
     
  10. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Ps on another note doesn't look like much of a ding? Maybe in numi world it is?
     
  11. serial

    serial Well-Known Member Silver Stacker

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    Grade it or sell it to me here for $350 (most you will get for this here) and I will grade it.
    I don't think the rims will be a problem and coin is desirable in problem free grade for set registries.
     
  12. Au-mageddon

    Au-mageddon Active Member

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  13. Dogmatix

    Dogmatix Active Member

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    It's a half.
     
  14. Au-mageddon

    Au-mageddon Active Member

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    Oops .. my mistake then. Apologies serial.
     
  15. serial

    serial Well-Known Member Silver Stacker

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    no problem, my point wasn't to lowball him, I am sure bubble knows its worth, I was trying to drive home the point that this is a numismatic item and the best market to sell it in would be graded coin collectors. I have seen 1/2 sovereigns sell here for $300 that could have sold for more elsewhere had they been graded.
    As you have clearly illustrated stackers tend to focus on the metal in a coin more than the coin itself when deciding value
     
  16. Au-mageddon

    Au-mageddon Active Member

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    Not sure I agree with your last statement there serial, but whatever ... I know that Sydney Mint sovereigns command a healthy premium over spot, due to their age and rarity in any grade > F.

    And having just checked my copy of McDonalds price guide I can see why OP might be concerned as to how much impact a ding might have on a coins value (if we are talking difference between the coin being graded in VF or XF).

    But given that Sydney Mint Type II 1864 Half Sovereign in VF grade was valued at >$2000 (2013), even if its realistic sale value was only half that, I would have thought that getting it slabbed and graded would have been a very worthwhile exercise regardless of the minor rim dents, not only to get the coin graded, but to protect it from any further damage.
     
  17. serial

    serial Well-Known Member Silver Stacker

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    and the trueview pics they do nowadays are great!
     
  18. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Thx guys for giving your inputs to whether i should consider sending this to grading or not. My main concern to grading is exactly what Ipv6Ready stated - "damaged" which definitely devalue this coin. It is a very nice coin overall, but if slabbing it to somehow "devalue" its worth then maybe it's not a worthwhile exercise....

    Serial - thx for the offer mate, but this one is the special one from my collection.
     

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