As a dealer of the coveted PCGS first generation (Rattler) holders, I am constantly faced with the dilemma of whether to crack out the coin and submit it for an upgrade.  Some dealers, including myself, make money selling the upgraded coins from these Rattler holders.

In the original dot matrix printed holder from the late 1980's, the Rattler usually commands a premium price to begin with, almost always above Greysheet.  This is usually justified, since the coins in these holders usually (BUT NOT ALWAYS!) upgrade at least one (sometimes two) grades when resubmitted to PCGS.  The question for a dealer like myself is, "Will the upgrade pay for itself?".  Grading fees, shipping and insurance are expensive.

Here are some important items to ponder when considering Rattler coins for regrading:

1.  What is the value of the next grade over the current grade?  If the value is substantial, then consider regrading the coin.

2.  What is the appearance of the coin versus the assigned grade?  Review your grading skills and grading criteria.  If the coin really appears to be undergraded, consider regrading the coin.

3.  What type of coin is in the holder?  If the coin is an early type coin, gold or a variety (VAM, etc.) that was not recognized when the coin was graded, consider regrading the coin.

4.  Why do you want to regrade the coin?  Rattler coins themselves are collectors items.  Many collectors build type sets and series sets with coins in these holders.  These sets command higher value than equivalent sets in later issued holders.  If your intent is only to build a higher grade set, then consider regrading the coin.

5.  Regrading is a gamble.  Are you willing to take the risk?  Not all Rattler coins upgrade.  Many will regrade at the same grade.  If you are confident through your assessment of the assigned grade that the coin will regrade higher, then consider submitting the coin for regrading.

6.  Should I crack out the coin to submit raw or send it in the original holder?  By far this is the most difficult question to answer.  Experts in many publications say that you should send them in raw so that the grading company will not be biased.  Others say that you risk having your coin downgraded or worse, rejected for grading if you do not send it in the original holder.  While the latter may be true for crossover coins (e.g. other third party coins sent in to PCGS for regrading), with Rattler coins you stand a better chance sending them in raw.  PCGS had very strict grading standards in the early years.  The coin in the Rattler holder would not have been graded initially had there been any problems with the coin.  In the early years, only authorized dealers were allowed to submit coins to PCGS, so they were already scrutinized before submittal.  I have submitted Rattler coins for regrading both in raw form and in the original holder.  The raw coins consistently grade higher.  Most of the slabbed coins grade the same.  Perhaps, the experts are right on this one.  It should also be noted that Rattler coins should be submitted only to PCGS for regrading.  If you submit them to other third party grading companies, you are on your own!

I hope your coins upgrade if you decide to submit them.  Please vote if you found this guide helpful and may Lady Luck smile on you!