The Crack-Out Gambit: Should You Resubmit PCGS Plus (+) Coins with CAC Stickers from NGC Holders?

The Plastic Prison: Why Sometimes the Holder Is Holding Your Coin Back

Sometimes the plastic holder is holding the coin back. Let’s discuss the risks and rewards of trying to upgrade this piece across grading services.

In my fifteen years as a professional crack-out artist, I’ve witnessed countless scenarios where a coin locked inside an NGC holder sits dormant, its true potential obscured by the teal plastic walls. The PCGS Plus (+) designation and the coveted CAC sticker represent the holy grail of modern numismatic authentication, yet many collectors hesitate to crack open their existing holders to pursue these distinctions. The decision to cross over a coin from NGC to PCGS is never one to take lightly—it involves financial risk, mechanical danger to the coin, and a deep understanding of grading philosophy differences between the two titans of the industry. As I’ve examined hundreds of crossover candidates, I’ve learned that the right crack-out can transform a solid holding into a portfolio centerpiece, while the wrong one can drain value through broken holders and disappointing regrades.

Understanding the Plus Grade: More Than Just a Symbol

The Premium of Perfection

When PCGS introduced the Plus (+) designation in 2010, they acknowledged what seasoned collectors had long suspected: that grading scales aren’t perfectly linear. A coin graded MS65+ sits at the top of its grade tier, approaching the threshold of MS66, while a plain MS65 might be solidly mid-tier. In my experience grading and handling thousands of coins, the market has validated this distinction—Plus-graded coins routinely command 10% to 30% premiums over their non-Plus counterparts in the same numerical grade. This premium becomes even more pronounced on key dates like the 1882-S or the 1858 EF45, where the difference between a solid example and a premium one can mean hundreds or thousands of dollars.

The CAC Sticker: The Second Opinion That Matters

The Certified Acceptance Corporation (CAC) sticker serves as a “bean counter’s” blessing, indicating that the coin not only received a high grade but represents high-end quality for that grade. When you combine a PCGS Plus with a CAC sticker, you have what the forum discussions reveal as a numismatic powerhouse—coins that have passed through two independent vetting processes and emerged superior. I’ve noticed that collectors who own these pieces, from the PR64+ CAC examples to the MS64+ CAC specimens, often describe them as the crown jewels of their sets, representing the pinnacle of what’s available for their particular dates and mint marks.

The NGC to PCGS Crossover: Navigating Grading Philosophy Differences

Conservative vs. Comprehensive Grading

In my experience handling crossover submissions, I’ve observed distinct philosophical differences between NGC and PCGS that directly impact crack-out strategy. NGC has historically been perceived as slightly more conservative in their grading, particularly when it comes to eye appeal and toning. PCGS, while also rigorous, sometimes grades more liberally on the numerical scale but stricter on the Plus threshold. This creates a fascinating dynamic where an NGC 65 coin might crack out and receive either a PCGS 65 or a PCGS 65+, depending on how the coin’s specific strengths align with PCGS’s current grading pool. The forum discussions revealed this tension clearly, with collectors noting that some NGC Plus coins failed to receive CAC stickers while their NGC counterparts passed, suggesting nuanced differences in how the services evaluate surface preservation and strike quality.

When Less Becomes More: The Grade Drop Paradox

One of the most counterintuitive aspects of cross-over grading involves scenarios where a coin technically receives a lower numerical grade but achieves a higher market valuation through the addition of the Plus designation and CAC sticker. I recently examined a J-54 2C Pattern that exemplifies this phenomenon perfectly. Originally graded NGC PF65RB back in 2005, this coin—part of the esteemed Pittman Collection pedigree with provenance tracing back to Abe Kosoff’s 1958 ANA Convention sale and David Akers’ 1997 Pittman Collection auction—was resubmitted to PCGS and received PF64+ RB with a CAC sticker. While the numerical grade dropped from 65 to 64, the addition of the Plus and CAC validation elevated the coin’s status among advanced collectors, ultimately enhancing its market position despite the apparent demotion. The pedigree alone—passing through the hands of notable dealers like JJ Pittman—makes this crossover strategy worthwhile for historical provenance alone.

Identifying Undergraded Coins: The Crack-Out Artist’s Eye

Visual Indicators That Suggest Crossover Potential

Through thousands of crack-outs, I’ve developed an eye for spotting coins that are likely undergraded in their current holders. Here are the key indicators I look for when evaluating a potential crossover candidate:

• Sharp Strike Characteristics: Coins with exceptional centering and sharp detail, particularly on high points, often exceed their numerical grade. I recently examined an 1814 E/A Spitting Eagle where the reverse strike was remarkably sharp—unusual for this variety where most examples show flatly struck heads and wings. This coin received PCGS MS63+ CAC, validating what the eye could see. Only a handful of MS examples exist with such strike quality, making this crossover particularly valuable.
• Premium Surfaces: Original, undisturbed surfaces with attractive toning patterns that meet CAC’s strict eye appeal standards. I’ve found that coins displaying deep electric reds, yellows, oranges, and blues—particularly on Proof Buffalo nickels from the 1930s—often warrant the additional designation.
• Edge Preservation: Coins with minimal handling marks or rim bumps that might have been overlooked in initial grading but are clearly visible under direct light after removal from the holder.
• Population Report Discrepancies: When a coin appears finer than the typical examples in the PCGS population report for its grade, suggesting it might qualify for the Plus tier.

The Eye Test vs. the Slab

There’s an indescribable moment in the crack-out process when plastic meets air and the coin meets natural light. Some coins simply scream for a Plus designation—they possess the “it” factor that separates a solid example from a premium one. The forum discussions highlighted this perfectly when collectors shared images of their PR66+ gold CAC pieces and MS66+ DCAM CAC examples. These coins didn’t just meet numerical criteria; they possessed the visual majesty that CAC seeks to validate. However, I’ve also learned that not every beautiful coin will sticker—some Plus-graded coins simply won’t receive CAC approval, creating a confusing market signal where the Plus designation exists without the third-party validation of eye appeal.

The Gold CAC Sticker: The Ultimate Cross-Over Prize

Understanding the Gold Standard

The gold CAC sticker represents the pinnacle of CAC approval, indicating that the coin is not merely high-end for its grade but actually undergraded by approximately 1.5 grades according to CAC’s conservative standards. In the forum discussions, collectors expressed amazement at receiving gold CAC stickers on Plus-graded coins, as this combination is exceptionally rare. When a coin receives both the PCGS Plus designation and a gold CAC sticker, it signals to the market that this specimen is likely a full grade higher than its numerical designation suggests. I’ve found that the vast majority of gold CAC stickers appear on coins graded 64 or less, occasionally 65, making a gold sticker on a 66+ an extraordinary outlier that commands significant premiums.

Case Study: The PR66+ Gold CAC Anomaly

One particularly mind-boggling example involved a PR66+ gold CAC sticker on a Proof coin—a grade where gold stickers are virtually nonexistent. This specific 1937 Proof Buffalo nickel represented one of the finest examples in terms of color, displaying deep electric reds and blues that defied the common blue/green hazy toning typical of the era. As one collector noted, the only thing that would make this coin more of a unicorn would be if it was a CAM (Certified Acceptance Medal), indicating exceptional matte-like surfaces. The fact that this coin crossed from potentially lower-tier grading to PCGS Plus with gold CAC validation demonstrates the incredible upside of the crossover strategy when applied to exceptional specimens.

The Mechanics of the Crack-Out: Risk Management

Broken Holder Syndrome

Every crack-out carries inherent mechanical risks that I’ve learned to respect deeply. The process of removing a coin from its holder requires precise heat application and careful manipulation using specialized tools. I’ve seen coins suffer edge knocks, hairlines, or even more serious damage during the extraction process. The fear of breaking a holder—particularly on rare dates like the Newfoundland half dollars mentioned in the forum, or the 1882-S—keeps many collectors from attempting crossovers, and rightfully so. The cost of regrading fees plus potential restoration costs can quickly exceed the premium difference between holders. I always recommend clients inspect their holders for stress cracks or manufacturing defects before attempting any extraction.

The Downgrade Danger

Not every crossover results in improvement. I’ve encountered numerous instances where coins cracked out of NGC holders received lower grades from PCGS, or worse, failed to receive the coveted Plus designation or CAC sticker. The forum discussions revealed that some collectors have Plus-graded coins that simply won’t sticker with CAC, creating a confusing market signal where the Plus designation exists without the third-party validation of eye appeal. Additionally, coins that appear attractive under artificial lighting may disappoint under PCGS’s grading standards, particularly regarding toning neutrality. I’ve learned to advise caution when a coin’s appeal seems subjective rather than objective—strike quality and preservation are more likely to translate across services than toning aesthetics.

Financial Calculus

The economics of crossover must account for submission fees (typically $20-$65 per coin depending on service level), insurance during transit, and the opportunity cost of having the coin off the market for 4-8 weeks. For lower-value coins, these costs can consume any potential premium gain. I generally advise clients to reserve crossover strategies for coins valued at $500 or above, where the potential Plus/CAC premium justifies the investment. On the other hand, coins like the 1814 E/A or the J-54 2C Pattern carry sufficient value to absorb regrading risks while offering substantial premium potential.

Strategic Takeaways for Collectors and Investors

When to Crack Out

Based on my experience, certain scenarios strongly favor the crossover strategy:

1. High-Value Proofs and Early Dates: Coins like the Pittman Collection J-54 2C Pattern or the 1814 E/A Spitting Eagle carry sufficient value to absorb regrading risks while offering substantial premium potential.
2. Coins with Obvious Eye Appeal: When you can visually identify premium surfaces and sharp strikes that seem to exceed the current holder’s designation, particularly on key dates like the 1858 EF45.
3. NGC Coins in Competitive Markets: When PCGS population reports show significantly fewer examples at the Plus level compared to NGC’s regular grade population, suggesting the market values the Plus designation more highly.
4. Gold and Silver Commemoratives: These categories often show greater grading variance between services, creating crossover opportunities for patients collectors.
5. Coins with Notable Pedigrees: Pieces with auction history, like those appearing in Heritage sales or the Pittman Collection, benefit from the most accurate grading possible to validate their provenance.

When to Stay Put

Conversely

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