Graded coin Disappointment

[Jtrams77]

So i looked online today and noticed NGC finished grading the very first coin I have sent for grading (1927-S Peace Dollar). It shows it received a grade of "AU Details/ OBV Scratched". Should I be disappointed about this? or is this still respectable?  I feel like the value of the coin just disintegrated. I mean who wants a coin labled with "OBV Scratched".   I don't sell my coins, but I am still kinda frustrated. Thank you for your time.  I will post a picture when I receive the coin back from NGC.

[Mr.Mcknowitall]

34 minutes ago, Jtrams77 said:

So i looked online today and noticed NGC finished grading th very first coin I have sent for grading (1927-S Peace Dollar). It shows it received a grade of "AU Details/ OBV Scratched". Should I be disappointed about this? or is this still a respectable grade. I feel like the value of the coin just disintegrated. I don't sell my coins, but I am still kinda frustrated  . On APMEX they sell the same coin (but ungraded) AU for 120$.  is "AU Details" better than just AU?   Wh doesn't it say AU58 or some other actual AU grade? Thank you for your time.  I will post a picture when I receive the coin back from NGC.

Welcome. The first comment I want to make, is do not be discouraged. EVERY collector, new and experienced, has bee disappointed by a grading result. Do not let it hold you back.

So, what that grading means, is that the coin could have received an almost circulated grade concerning the details of the coin, which would translate.... 50-58...as a numerical grade, except in the case of this coin, it has post mint damage, the obverse scratch. The TPG Third Party Grading company, does not put a numerical grade on damaged coins. Another way of informing you what the "grade" means, is that the coin would have been respectable but the respect is substantially reduced because of the scratch, and is not a coin that most collectors would want. It is a space filler in an album, until you find a replacement piece.

The value of the coin is substantially reduced when there is post mint damage, or cleaning, or artificial enhancement of the appearance. But (there is always a "but") the coin does have value. It will help you learn. Go to a few shows. Take the coin with you. Compare it to coins that are graded  AU 50-58, that don't exhibit any scratches,dings, etc. It will also teach you to start recognizing what a coin that has been cleaned (a no-no) looks like.

Look for a coin club in you area. Join it. Go to the meetings. I have no doubt you will find mentors eager and willing to help you learn.

Start building a library. there is an author on this boards with the board name physics fan. He has a book available that, all things considered, is a very good easy to understand book about grading coins, and would be a good starting point in building a library. Hint: He doesn't like me, but that does not give me pause to recommend his book. I have read it, and learned something from it. It is certainly worth buying. I think right now he will sign it for you. Check the sales thread.

There is much more I can mention, but for now that is the basics to share with you. There are a heck of a lot of good books to start with, but I have no doubt you are about to get plenty of suggestions.

The best value and assistance and learning experience right now for you? These Boards. A lot of very knowledgeable people and a lot of information available. Become active here. You won't regret doing so.

[Jtrams77]

6 minutes ago, Mr.Mcknowitall said:

Welcome. The first comment I want to make, is do not be discouraged. EVERY collector, new and experienced, has bee disappointed by a grading result. Do not let it hold you back.

So, what that grading means, is that the coin could have received an almost circulated grade concerning the details of the coin, which would translate.... 50-58...as a numerical grade, except in the case of this coin, it has post mint damage, the obverse scratch. The TPG Third Party Grading company, does not put a numerical grade on damaged coins. Another way of informing you what the "grade" means, is that the coin would have been respectable but the respect is substantially reduced because of the scratch, and is not a coin that most collectors would want. It is a space filler in an album, until you find a replacement piece.

The value of the coin is substantially reduced when there is post mint damage, or cleaning, or artificial enhancement of the appearance. But (there is always a "but") the coin does have value. It will help you learn. Go to a few shows. Take the coin with you. Compare it to coins that are graded  AU 50-58, that don't exhibit any scratches,dings, etc. It will also teach you to start recognizing what a coin that has been cleaned (a no-no) looks like.

Look for a coin club in you area. Join it. Go to the meetings. I have no doubt you will find mentors eager and willing to help you learn.

Start building a library. there is an author on this boards with the board name physics fan. He has a book available that, all things considered, is a very good easy to understand book about grading coins, and would be a good starting point in building a library. Hint: He doesn't like me, but that does not give me pause to recommend his book. I have read it, and learned something from it. It is certainly worth buying. I think right now he will sign it for you. Check the sales thread.

There is much more I can mention, but for now that is the basics to share with you. There are a heck of a lot of good books to start with, but I have no doubt you are about to get plenty of suggestions.

The best value and assistance and learning experience right now for you? These Boards. A lot of very knowledgeable people and a lot of information available. Become active here. You won't regret doing so.

I just dont get it. I have seen coins that have less eye appeal and more obvious bag marks and scratches, but still received an actual grade. It feels almost like a joke and waste to try and send more coins in the future. I know every grader grades different, and that's another reason why I feel like its just not worth my time anymore and I should just buy slabbed coins from now on. 

[Mr.Mcknowitall]

1 hour ago, Jtrams77 said:

I just dont get it. I have seen coins that have less eye appeal and more obvious bag marks and scratches, but still received an actual grade. It feels almost like a joke and waste to try and send more coins in the future. I know every grader grades different, and that's another reason why I feel like its just not worth my time anymore and I should just buy slabbed coins from now on. 

I don't think you are listening. Just buying slabbed coins from now on teaches you nothing and you will more than likely repeat the previous disappointing purchase. Read what I wrote. Sleep on it, digest it, and think it thru.

If you don't want to put in the time and enjoy the hobby and learning about it and consider it a waste of time, then I understand.

I have a suspicion that you may be considering the hobby an investment siren. It isn't, and it certainly will be a bankruptcy if you do not know what you are doing. If you think all is OK by buying slabbed coins, I suspect you are going to be taken advantage of.

 

[Jtrams77]

40 minutes ago, Mr.Mcknowitall said:

I don't think you are listening. Just buying slabbed coins from now on teaches you nothing and you will more than likely repeat the previous disappointing purchase. Read what I wrote. Sleep on it, digest it, and think it thru.

If you don't want to put in the time and enjoy the hobby and learning about it and consider it a waste of time, then I understand.

I have a suspicion that you may be considering the hobby an investment siren. It isn't, and it certainly will be a bankruptcy if you do not know what you are doing. If you think all is OK by buying slabbed coins, I suspect you are going to be 

I did listen and your suspicions are incorrect.I only meant I don't understand how a much uglier coin than the one I submitted can receive a more prominent grade. The fact that this happens is frustrating, seems like some coins are more lossely graded than others. Thanks for the guidance. Have a good weekend- J.S.

[Just Bob]

When you get the coin back, examine it very closely under different types of lighting, using different degrees of magnification. Try to see what the graders at NGC saw. Compare your coin to other circulated coins, and see if your "scratch" looks different than a "normal" ding or bagmark. Turn this frustrating experience into a learning experience. And, don't give up.

[Mohawk]

Bob and Mr. McKnowitall have given you good advice......we all take our lumps when we are first starting out with both collecting and submitting coins to NGC.  I know I certainly did, but I didn't let it keep me down.  I examined each coin that came back with a problem to try to discern what the graders saw and, after a while, I began to see what the problems were.  This knowledge as served me well and now, 8 years after I submitted my first coins to NGC, I mostly get good surprises when I grade.  However, I still make mistakes even after all this experience with NGC and I'm sure other experienced collectors do as well.  It's part of the game when you buy raw and submit yourself.  Don't let this discourage you too much......it's a learning experience.  And, as to your question about eye appeal, if an ugly coin doesn't have a problem, then it will straight grade.  It's that simple.  And, if a pretty coin has been cleaned, then it won't.  Eye appeal has nothing to do with whether or not there is a problem.  There are gorgeous coins out there which have been cleaned and there are hideous coins which have original surfaces. 

[Jtrams77]

Roger that. I'll keep on movin, thanks for the advice. 

[Six Mile Rick]

J.S.,

 Don't let the grade with obverse scratch bother you. You like the coin and you wanted to get it graded. The scratch is small or in a place that it does not bother you. However the grade is correct and the coin will be a learning curve for your future submissions. Something learned is always the best way to look at this situation. I have sent in around 1000 coins to NGC. I have a small shelf in my den that has a few submission rejects that I received from sending in the coins I chose. I have 2 coins with wheelmarks and 1 coin (uncirculated) with scratch on obverse. Just reminders of my past mistakes to keep me from making the same mistake again.

A Learning Curve

Rick

[ngcmember2018]

What a great post :-) 👍