1856 Flying Eagle-Why Do You Think This Coin Was Not Graded

Last two numbers in the serial are code #'s ?
News to me. See some die polish lines and a chip and crack
around F of "OF"
If that coin was drilled then plugged then one heck of a fine
job on it. Pretty good eyes on this grader then. Those pics with the zoom come in far better than what a 4X graders loupe
would of seen. Unless because it's a 56 flyer they used a 1000X laser induced electron stereoscope with mach 7 afterburners. If damaged, that woulda shoulda been marked on the slab. If it was mine i'd crack it out and send it to another TPG without any prior info.

Thanks for that info. Still pretty confusing though.

1."The format of the numbers printed on the obverse will remain the same. From the left - the coin number followed by a period, the "no grade code" assigned (such as 92 for cleaned), a slash and a certification number."

2.Then: "The reverse of the insert will be modified on Genuine coins to read "GENUINE NOT GRADABLE."

3."The no grade code to the right of the coin number is what should be used to determine the problem that PCGS has identified"

Which sentence/paragraph is correct of #1 and #3 ?

Anyway, good plug and play job on this one.
Wonder how many other key coins slipped through this.

I do not (anymore) like or use PCGS.
They used to be good yrs. back. NGC was kind of crappy
a while ago but recently are much better then PCGS.
I use them or ANACS depending on the coin.

Still would like some input on this plug job.
Are they now using X-rays etc. on grading ?
Where was the hole to begin with ?
Usually it is around 12:00
Honestly, if you saw this coin in hand raw would
a plug job even occur to you ?
If that price was a tad lower (looks to be in the mid. AU price range) Coin is a close 58 easy 55, I would consider buying it and cracking it out.

Indian1 makes some good points. This is screaming FAKE Slab, IMO. PCGS does not use the code GN, I have only seen numerical codes (not saying that I know them all), and the back side of the Insert should have;

The reverse of the insert will be modified on Genuine coins to print "GENUINE NOT GRADABLE".

The Certification Number is good, but I have a feeling that is about all that is worth a hoot on this "coin".

http://www.pcgs.com/grades.html

I am not sure about the coin but I am not convinced the SLAB is real.

I think the coin is genuine and the slab it too. If you look at the 5 in the date, you can see that there is a chip in the ball of the 5 and the back of the 5 bisects the ball. If you look at the "o" in of, the inside is sort of rectangular in shape and not a oval like on other dates. Also, if I remember correctly PCGS did use The GN code on their earlier genuine slabs. I don't know if it has been plugged but I do think it is accurately labeled as a problem coin. The surfaces look off and there is a patch of hairlines in the field above the eagle's tail.

I'm inclined to believe the coin genuine. This seller, although not adding up bunches of Feedback, has been selling coins on ebay since 1999. This one's the most expensive he's offering currently, but not by much and most of it is stuff that's way out of my range.

My guess is the GN code is an administrative error - this one's been cleaned.