1793 1c Chain Cent Ameri. - Sheldon 1

OP has stated he is fine with the coin as is, even after it was suggested that it was at least doctored or even possibly counterfeit. If he wants to change his mind and hold them liable then that's up to him. Regardless, it should not remain in the current holder.

I would imagine the coin doctor that did this is/was smart enough NOT to submit this coin himself. He most likely covered his tracks by unloading the coin (or coins as the case may be) at a minor show to get them into the market place. The coin(s) then probably changed hands several times and ended up being submitted by a person that was oblivious and unsuspecting about the fraud. This coin passed muster at the TPG and is their problem once it got in a valid slab that has a straight grade on it. TPG did not do their homework. Oops!

Hanging on to this coin would be no different than standing in front of the toilet and flushing hundred dollar bills down it! However, it's the OP's coin and he can do whatever he wants with it. I respect that and wish him well.

Most of us poor people would either (A) ask for a refund from who we bought it, or (B) work with the grading company to secure a fair and equitable resolution. The coin has a huge diminished value and in fact may not even be genuine!

This coin has huge implications regarding the reliability and integrity of TPG. Will be interesting to see how this plays out over the next few months and years.

Westernsky, you may be correct, but I don't think a coin of this value would have a long trail of exchange. I doubt whoever submitted to PCGS was either the coin doctor or 1 or 2 buyers deep into it. Now, HA, should they wish to be involved could help figure this out by exposing the buyer of the coin, but they probably won't. That would provide the initial source to trace the fraud. The collector community should have interest in finding out who this crook is, but auction house and TPG help is needed.

Yes. My point of view is that once one sells anything they should not care what happens afterwards. If I sell a house, I don't care if it gets torn down. If I sell a car, I don't care if it gets wrecked. "Protect future buyers" is meaningless. Just like "sentimental value" which is of zero real value. Once an object is sold the previous owner has no further obligation (unless a fraud was involved). In this case PCGS has stood by their grading, so anyone that owns it really has no obligation to reveal anything further since PCGS is the "expert" and any other information is speculation. That's my point of view, but I respect yours.

Wow, you guys really drill down on these, I learn everytime, thanks !

As far as I know PCGS guarantees their grade, variety attribution (the only TPG who does) and authentication.

I have been involved in buy-backs of counterfeits authenticated in their slabs and they pay the invoiced price the owner did to get the coin back. In my experience this has ranged from a few hundred dollars to over $14K for the counterfeit 1793 S-5 wreath cent.

Jack Young is aware of this thread as @westcoin noted previously. I was not aware that @west knew Jack when I sent Jack the link to this thread on Saturday morning from another coin forum. He did reply and thanked me for the head's up and noted that some more research is required.

My process for reviewing a subject coin is pretty extensive and was recently documented in COINage; my image as follows.

One of the issues with yours is it is in a slab, so accurate XRF testing is out along with any dimensional measurements. Not sure if you could get detailed images of the edge but that would be important.

You could contact PCGS for a reconsideration but there may be risks there- it may come back authenticated but detail graded for the tooling/ repairs, which is better for any future owner but without knowing what you invested in it may hurt you. If counterfeit they would buy it back at your purchase price.

Or you could return it to who you bought it from and it becomes his issue to sort out; if a reputable Dealer he would be willing to do that...