The Crack-Out Game: Should You Resubmit We Want Kennedy – Post Your Kennedys?

Plastic holders have a habit of holding coins hostage. Let’s talk about the risks—and rewards—of trying to upgrade a piece when a slab is holding it back.

Welcome to the vibrant world of numismatic arbitrage, where the line between preservation and destruction is as thin as the rim of a 1964 Kennedy half dollar. As a professional crack-out artist and seasoned evaluator of United States coinage, I’ve seen firsthand how a plastic slab can either protect a coin’s provenance or actively suppress its true grade. Today, we are exploring the Cross-Over Grading phenomenon—specifically, the NGC to PCGS crossovers—and diving into the high-stakes world of regrading, crack-out risks, and spotting undergraded pieces in the iconic Kennedy series.

The Longest Serving Half Dollar and the Last 90%

To truly understand the gravity of what we discuss, we must first look at the coin itself. The John F. Kennedy Half Dollar is the longest-serving half dollar design in American history, running for an impressive 58 years from 1964 to 2021. It recently surpassed the Liberty Seated Half Dollar, which managed a respectable 52 years from 1839 to 1891. Issued in 1964, this was the last circulation half dollar minted in 90% silver, and the largest denomination of that year. It’s a coin of immense historical significance and striking eye appeal—a tribute to our 35th President, whose famous quote reminds us: “Every accomplishment starts with the decision to try.”

But history alone doesn’t dictate numismatic value; collectibility does. And when collectors gather to “Post your Kennedys,” they are often bringing slabs that tell a story of where the coin sat in the grading pipeline.

The NGC to PCGS Crossover: Navigating the Grading Divide

When a collector posts a Kennedy half, they often face a daunting reality: the grading discrepancy between the two premier third-party grading services. In my experience grading, NGC and PCGS populations do not always align perfectly. A coin that sits comfortably at MS65 on one service might be pushed to MS66 on the other, creating a frustrating “crossover” dilemma for the collector.

Understanding Population Differences

Why do these discrepancies happen? The primary reason lies in population data and grading philosophies. Over the decades, NGC has occasionally adjusted its grading scale, while PCGS has maintained a strict, conservative approach to surface preservation. When a coin is submitted to both services, the PCGS grader might identify a faint die polish mark or a subtle nick that the NGC grader overlooked, bumping the grade up by one point. Conversely, NGC might find a hairline that PCGS ignores.

For the modern collector, this means a 1964 Kennedy half graded as MS65 by NGC could easily be MS66 by PCGS. If you are buying or selling across the pond, you must ask yourself: which grade is the “true” grade?

Regrading and the Baltimore Show Anomaly

Let me share a cautionary tale from a recent show. A fellow collector dropped off a four-coin 50th Anniversary set for grading at the Baltimore Show. They were confident in the quality of their pieces, expecting them to hold steady. However, when the coins came back, every single one was re-slabbed down to an MS69. The collector was “Mighty peeved.”

Why did this happen? Often, when coins are pulled from circulation or stored in less-than-ideal conditions before submission, the plastic holders can trap microscopic debris or oils against the coin’s surface. When the grader examines the coin under superior lighting, these trapped elements become visible, prompting a downward regrade. The holder was effectively “holding the coin back,” obscuring the true mint condition.

The Crack-Out: Risks and Rewards

So, what does a professional crack-out artist recommend when a coin has been mis-slabbed or trapped in a sub-optimal holder?

The Risk of the Crack

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