To crack, or not to crack... that is the question

[Aygee47!]

Hello sharp-eyed numismatists, so I watched (& liked) Daniel's really interesting video about a month ago titled "You Don't Want to Pass on This Opportunity" about the 1942-P Type 2 Proof Jefferson Nickel. And I went down the rabbit hole and recently picked up for a good price an ICG slabbed Proof 67 (see attached photos) example of this coin. I get what collectors say about ICG, but I bought the coin not the slab, kwim? And I really like the coin, especially after learning from Daniel's video what the mintage numbers are like on this Type 2 nickel. But then that part of me that can't help but double-check on everything went and looked what the coin would be worth in a PCGS or NGC slab... and I just happened to also look on their price guides and see what the coin would be valued at if it were graded as a Proof 68... and wow, that's some big increase... from a few hundred dollars to a few thousand! So my question is, if you were me, would you crack this coin out and submit it knowing it could come back at a lower grade... or would you roll the dice and submit it to one of the level 'A' grading firms? And bonus question, if you would crack it out... to which grading service would you submit it? Thanks ahead of time for any thoughts/advice you care to share.

[kurtspringmann]

No, don't do it. That is a suckers game and will only increase your cost.
Just enjoy your coin.
You will very likely get back a PR66 at best.

[Daniel]

It's not going to upgrade, but I can't say it's a good idea to crack out and send to PCGS because you need to know what grade you will get and access the fees involved. You checked the higher grades but you need to check the lower grades as well.

[Westin]

I'd leave it. It's a big gamble to bet on a 68. Any other grade is losing you money. Nice coin you got there!

[Earle42]

if you were me, would you crack this coin out and submit it knowing it could come back at a lower grade... or would you roll the dice and submit it to one of the level 'A' grading firms? And bonus question, if you would crack it out... to which grading service would you submit it? Thanks ahead of time for any thoughts/advice you care to share.

I agree with what has been said.

You will not get the 68. Those are what I tend to call bait slabs:

Since nothing verifiable is used to grade a coin, then there is no way to actually tell if a coin is what the holder says. PCGS, and any other company can put what they want to on a slab. When they limit the number of bait slabs they produce, the registry sets on their websites lead to bidding wars that send the prices through the roof. When people see those high prices, just like yourself, they then will want to gamble paying PCGS to grade it for them. That means PCGS gets a minimum of 200.00 b/c of coerced membership fees!



I believe, like many coming here, the internet has you thinking the grading companies are something they are not. A lot of people lose a lot of money b/c of that. See the PM I sent you concerning what you need to know about the companies so you don't lose money.
On the upper right of page is a link for private messages.

[Aygee47!]

Fantastic advice... thank you to all who replied! The CoinHelpU Community is absolutely the best.

I'm going to enjoy this coin and what it represents to me... the enjoyment of collecting, instead of the frustration of being baited.

BTW, I'm still laughing at the 'bait slabs' line!

Thanks again!

[SensibleSal66]

Fantastic advice... thank you to all who replied! The CoinHelpU Community is absolutely the best.

I'm going to enjoy this coin and what it represents to me... the enjoyment of collecting, instead of the frustration of being baited.

BTW, I'm still laughing at the 'bait slabs' line!

Thanks again!

Thanks even though I wasn't part of the discussion.
My advice? Say no to crack every time.

[Aygee47!]

SensibleSal for the win:

My advice? Say no to crack every time.