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AU-58 Is MS-64

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Pillar of the Community
Australia
852 Posts
 Posted 12/01/2018  03:08 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
I remember that thread (and the issue of a certain Melbourne dealer who shall remain nameless). Strange to think it was 5 years ago and so many of the regulars then no longer post or visit. Fred and my article in the May issue was about the fakes (if I recall correctly), PCGS at that time had slabbed dozens of pre decimal fakes (that I know of, how many others had been slabbed is something PCGS won't ever tell) from the same dies as the fakes in that article. At that stage I had 2 fakes that had been slabbed plus a number more raw fakes were lent by me to them for closer examination (they were returned recently) and the 2 slabbed fakes are safely tucked away. Hopefully PCGS learnt their lesson about aussie pre decimal fakes and have stopped it (though I still spot freshly slabbed foreign coins out there).
Valued Member
CoinOS's Avatar
269 Posts
 Posted 12/01/2018  07:28 am  Show Profile   Bookmark this reply Add CoinOS to your friends list Get a Link to this Reply

Quote:
a certain Melbourne dealer


I asked that dealer inside the last year if a certain coin (>$2500) had been authenticated and received a reassurance that it did come with a PCCB slab but had been removed from it.
That was the first time I sensed oncoming nausea with this one. He and his business are not worthy of further comment from me.

I tolerate rubbish like this from fools every week.
Six months ago I asked another Australian eBayer if his 1923 halfpenny had been authenticated. The reply has long been deleted but was a condescending admonishment to me that to the effect that a 'real numismatist' knows if a 1923 halfpenny is genuine.
More oncoming nausea.. I suspect my knowledge of that coin exceeds his.

I could put another dozen examples of this crap here from Australian sellers but it'd probably make me feel sick.

Both PCGS and NGC do grade cloth wiped coins and wiped is cleaned. They also grade dipped coins where the surface layer of the coin has been removed. . They also grade thousands of cleaned coins and detail thousands of equally cleaned coins.
The typical response to the above is that everyone suddenly transforms into a math teacher and explains that they get it right most of the time - a facile argument that falls to pieces under scrutiny. I was guilty of believing that myself until recently.
The TPG brag that they have a big library is amusing (so do I) and that they have two or three experts examine each coin is a straight up lie. As with most of the human species, the only thing they care about is profit maximization - whatever it takes.

The 1911 shilling thing is a cold case and remains mystifying. There is not enough image and info-sharing there to come anywhere near a conclusion. The example I posted remains in coin quarantine and I won't discuss the results of it's testing here just yet.

Cheerio
[edited for typos and other bs]
Edited by CoinOS
12/01/2018 11:45 am
Bedrock of the Community
basebal21's Avatar
13014 Posts
 Posted 12/01/2018  5:34 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
They also grade dipped coins where the surface layer of the coin has been removed.


Dipping isn't cleaning nor can you tell when it's done properly. Anyone saying otherwise is kidding themselves and just guessing based off of color.


Quote:
and that they have two or three experts examine each coin is a straight up lie.


The only lie is people saying that is a lie.
Pillar of the Community
Australia
852 Posts
 Posted 12/01/2018  9:09 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Basebal21, it is probably true that 2 or 3 people examine each coin to determine the grade, but does EACH of them examine it to confirm the particular die variety, or if it has markers that indicate that it is counterfeit?
If 3 people and not just one are either Mr Magoo or otherwise not an expert in the date/series that they are examining then CoinOS statement to the effect that 2 or 3 experts don't examine each coin is effectively true. Does PCGS even have 3 EXPERTS in the Australian pre decimal coins ON EVERY SINGLE YEAR and ON EVERY SINGLE DENOMINATION? I can't believe that as how big is the staff of PCGS graders and can they find 3 EXPERTs in not only each of the 200+ countries they grade but typically several hundred different dates and denominations for each country. I'm probably the top expert on perhaps 5 different pre decimal coins and an expert on 100 others, but there would be 300 more pre decimals that I would suck at in identifying quality fakes. That probably applies to PCGSs best expert on pre decimals and if he misses that the quality fake isn't real then the 2nd and 3rd grader will have buckley's chance in the 10-30 seconds they have to examine/grade/record their opinion.
I can spend an hour on a single coin to look for and record perhaps dozens of different die markers only visible under a loupe and then dig through my notes and comparison coins to identify the exact die pair and if it is an early/mid/late strike. I'll bet most serious collectors will spend quite a few minutes on a coin that they will be paying for and many probably have a similar routine as mine for coins they own. Not a chance in sub 30 seconds examination by "experts" to do this on coins worth potentially thousands or potentially nothing.
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CoinOS's Avatar
269 Posts
 Posted 12/02/2018  12:48 am  Show Profile   Bookmark this reply Add CoinOS to your friends list Get a Link to this Reply
BB21:

Quote:
The only lie is people saying that is a lie


I will on request post numerous photos of PCGS and NGC goofs here that were definitely not graded by an Australian coin expert - let alone three.

This is good>
PCGS May 1990 - State of the Art
https://www.numismaticnews.net/may-29-1990


Quote:
Dipping isn't cleaning nor can you tell when it's done properly


A dipped coin sold as original is deception by definition.

Q. How many dipped Australian coins for sale include the word dipped in their item description?
A. Almost none.

It removes metal, removes toning, and obfuscates it's provenance and pedigree - and while not a cleaned coin in the usual context, it has been altered.

NE:

Quote:
I can spend an hour on a single coin to look for and record perhaps dozens of different die markers only visible under a loupe


You have the patience of a saint.
Pillar of the Community
Australia
852 Posts
 Posted 12/02/2018  01:43 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
More like the patience of a coin nutcase.
I don't need to spend an hour on every coin but sometimes that much time is needed to find as many die markers as possible for a particular die pair so that for your coins that are low grade you have a table of known dies and their various die markers to identify the die, so even if most of the surface is battered you can ID the coin. Spent several thousand hours doing that when identifying the dies for the 1920 penny about 13 years back, now I'm not so ambitious and stick to identifying easier things like the dies of the crowns, the '46 large florin or the '53 large florin.
You are correct about the lying through omission for dipped coins.
Funny how they thought 29 years ago that they had computer grading down pat. Same as their claims about detecting fakes today.
Like myself (and probably many others) you also possess plenty of coins and/or images of stuffed up gradings by the "experts".
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bobby131313's Avatar
United States
24163 Posts
 Posted 12/02/2018  10:38 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
A dipped coin sold as original is deception by definition.


No, not even close. Deception, like fraud, requires intent. As stated a properly dipped coin is undetectable so unless the seller dipped it himself, there is no deception.
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SilverDollar2017's Avatar
United States
8715 Posts
 Posted 12/02/2018  10:44 am  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply

Quote:
No, not even close. Deception, like fraud, requires intent. As stated a properly dipped coin is undetectable so unless the seller dipped it himself, there is no deception.


Dipping that has been done properly will not be detectable. People assume dipping = harsh cleaning, this is not true.
Pillar of the Community
Australia
852 Posts
 Posted 12/02/2018  1:54 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
"Deception,like fraud, requires intent". Total rubbish. People can be deceived in many ways including by sellers ignorance and carelessness. Look at how many coins have been mistreated by rough handling and polishing and then ignorant sellers who come into possession of such coins sell them and call them uncirculated, gem, BUnc, proof etc. So although the ignorant seller has no intention to deceive (lie) they still have committed unintended deception (an untruth) on the buyer.
Also the expression "properly dipped" to many purists is as much an oxymoron as would be properly polished or properly whizzed or properly tooled.
When detection methods improve many a currently undetectable light dipping might become detectable. What will that do to either the ability to slab former "properly dipped" coins or their values?
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bobby131313's Avatar
United States
24163 Posts
 Posted 12/02/2018  2:04 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
People can be deceived in many ways including by sellers ignorance and carelessness


Sorry but that's rubbish. If I have no clue it's been dipped I did not deceive you.


Quote:
When detection methods improve many a currently undetectable light dipping might become detectable.


I have many very complex responses to that... I'll start with "Who cares?" and "So what?" Reminds me of people that get out a 200x microscope on their coins and think they have an error because they "See something different." If I can't tell a coin has been dipped with the naked eye I couldn't care less if it was.
Pillar of the Community
Australia
852 Posts
 Posted 12/02/2018  5:15 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Just because the seller is ignorant doesn't mean the buyer hasn't been deceived.
So if an expensive purchase comes back with a No Grade on the slab you would reply "Who cares"?
Also if a coin looks BUnc after dipping but takes on a weird colour after a few years you wouldn't care?
Many of the fakes I own (including those in PCGS slabs) can only be detected with a loupe. So if you can't detect a fake with your naked eye you couldn't care less?
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bobby131313's Avatar
United States
24163 Posts
 Posted 12/02/2018  5:33 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
Many of the fakes I own (including those in PCGS slabs) can only be detected with a loupe. So if you can't detect a fake with your naked eye you couldn't care less?


We're talking about dipping, NOT fakes, but if changing the subject makes you feel better and you think it helps you prove your point good for you.


Quote:
So if an expensive purchase comes back with a No Grade on the slab you would reply "Who cares"?


If I can't tell a coins been dipped 99% of the time neither will a TPG. They don't look that hard.


Quote:
Also if a coin looks BUnc after dipping but takes on a weird colour after a few years you wouldn't care?


No I wouldn't, I like toned coins, even weird ones. Even though waiting a few years to change color would likely never happen. If it takes a few years, something else did it.
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basebal21's Avatar
13014 Posts
 Posted 12/02/2018  6:05 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Basebal21, it is probably true that 2 or 3 people examine each coin to determine the grade, but does EACH of them examine it to confirm the particular die variety, or if it has markers that indicate that it is counterfeit?


They always do for everything. The varieties are a trickier part of it as some are automatic, others you have to pay to have on the label but they will in the sense of authentic or not. Some label mistakes are simply they hit the wrong number keying it in. I know that is frustrating but with all the different numbers and millions of coins a year that does happen sometimes.


Quote:
That probably applies to PCGSs best expert on pre decimals and if he misses that the quality fake isn't real then the 2nd and 3rd grader will have buckley's chance in the 10-30 seconds they have to examine/grade/record their opinion.


The whole grading time thing is an internet rumor. They obviously don't spend an hour on every coin but they take the time they need to. There is no countdown timer saying time to move on times up. Many coins only take a few seconds others take a lot longer.

Do fakes get through sometimes yes, as fakes have gotten better. It's exactly why they developed the AI gold shield program to help with that knowing that they have to try and stay a step ahead. Coins are a lot like guns and body armor, it's a back and forth where sometimes the other side has to do something before you can know how to beat it.

That said if they certify a fake they will pay up. There is a process and they do stick by it, but you have to go about it the right way which I have tried to help people with in the past. The fake itself when it's that good can often be worth more than the real coin as they are collectable in their own right and they won't overpay to counter that if money is the concern.


Quote:
A dipped coin sold as original is deception by definition.


A properly dipped coin you cannot tell it was. Many people claim they can based off the look, that's just not how it works. They guess because it wasn't toned, but a coin in the middle of a roll or stored well ect looks the exact same. Dipping is perfectly fine and in some cases saves a coin from what was on it when done right with the right coins.


Quote:

No, not even close. Deception, like fraud, requires intent. As stated a properly dipped coin is undetectable so unless the seller dipped it himself, there is no deception.





Quote:
So although the ignorant seller has no intention to deceive (lie) they still have committed unintended deception (an untruth) on the buyer.


Which everyone on the planet has done including yourself if that is the impossible standard you want to hold something too.


Quote:
Just because the seller is ignorant doesn't mean the buyer hasn't been deceived.
So if an expensive purchase comes back with a No Grade on the slab you would reply "Who cares"?
Also if a coin looks BUnc after dipping but takes on a weird colour after a few years you wouldn't care?
Many of the fakes I own (including those in PCGS slabs) can only be detected with a loupe. So if you can't detect a fake with your naked eye you couldn't care less?


Fakes have nothing to do with dipping. Non dipped coins can change colors after a few years as well.

If you want to hold things to these standards it would be best to avoid coins all together as anything can change color depending how you store it, where you live ect. You are applying a lot of things to dipping that applies to all coins.

Most people really don't understand what dipped coins look like done right or how they react. They just hear things about them or see some bad ones and assume it is a bad thing. It's only bad when done wrong or if you wanted a toned coin and it took that away.

Dipping is by far the most misunderstood subject when it comes to coins
Edited by basebal21
12/02/2018 6:08 pm
Pillar of the Community
Australia
852 Posts
 Posted 12/02/2018  9:23 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Hi Basebal and Bobby, I like toned coins but I have seen examples of graded dipped coins that look unnatural, especially where the dipping chemical leads to that weird look after they have been slabbed for a while.
Even "good" dipping does alter the coin slightly (though I can understand the need for it when a coin is in need of conservation).
Even if TPGs currently don't look so hard for dipping there is nothing to say that won't tighten their standards (much like they let gradeflation happen and then tightened their grading this year).
How can they have all 3 "experts" truly be experts in coins that they rarely (or never) see. Considering that they mostly just grade US coins and certain foreign coins 99.9% of the time). Many Australian coins have less than 10 graded, quite a few have either a single coin ever graded or none ever graded. This particularly applies to early proofs and rare die pairings.
As an example of such a rarity the 1926 serif sixpence has just 11 examples graded and there was only a couple of proofs minted (none have been graded as such). I say as such as the possibility exists that they have in error slabbed a proof as a circulation strike and they couldn't possibly know as they don't know the die markers for the proofs. So not one of the 3 are "experts" in either the circulation or proof strikes.
And most sellers of dipped coins are aware that the coin was dipped but choose not to reveal that. Caveat Emptor and playing dumb.
My fakes are in Gold Shield holders and were slabbed only 6 months back. They only pay under very limited scenarios as they won't pay if you submitted the coin and they make the dealer pay if it was a dealer submission. That basically limits them to paying where they cannot pass the compensation costs back to somebody else.
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bobby131313's Avatar
United States
24163 Posts
 Posted 12/02/2018  10:09 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
And most sellers of dipped coins are aware that the coin was dipped but choose not to reveal that.


I couldn't disagree more, I think it's exactly the opposite.
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