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"Ghost 3 Error" 2003 Proof Penny Agp Certified PR-68

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yechi7's Avatar
United States
717 Posts
 Posted 04/15/2007  5:18 pm Show Profile   Bookmark this topic Add yechi7 to your friends list Get a Link to this Message Number of Subscribers
I'm thinking of buying this from ebay for under $25, including shipping - "GHOST 3 ERROR" 2003 Proof Penny AGP Certified PR68:

http://cgi.ebay.com/GHOST-3-ERROR-2...68_W0QQitemZ260107976201QQihZ016QQcategoryZ524QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

I never heard of AGP certification, even though I checked out their website. Is this coin a scam or a legit error?
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bobby131313's Avatar
United States
24154 Posts
 Posted 04/15/2007  5:22 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply


LOL, he brags in the listing that the mint only puts out 1 error per billion coins, however he alone has 21 of these available. Pretty rare huh?

My advice.... Run away.

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yechi7's Avatar
United States
717 Posts
 Posted 04/15/2007  5:35 pm  Show Profile   Bookmark this reply Add yechi7 to your friends list Get a Link to this Reply
I was a little suspicious.

On one hand: the grading certifying service AGP is actually the ebay seller. Sounds like conflict of interest.

On the other hand:

1) AGP advertises itself on its website as an collector-run alternative service for less expensive coins.
2) The seller's Feedback Score: based on 819 responses: Positive Feedback: 99.9%.
3) Also, it looks like a real error & it's on a proof.

Am I being too naive?
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AuldFartte's Avatar
United States
830 Posts
 Posted 04/15/2007  5:45 pm  Show Profile   Bookmark this reply Add AuldFartte to your friends list Get a Link to this Reply
Dovid, first let me welcome you to Coin Community !!!

With regard to your situation, I'd strongly advise against any purchase from a seller who "slabs his own coins" like this one. There are, sadly, many people out there who now make their own slabs, the main purpose of which is to separate you from your money, usually without offering a product worth what you will pay for it.

You've come to the right place for answers to your questions !!!
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yechi7's Avatar
United States
717 Posts
 Posted 04/15/2007  5:58 pm  Show Profile   Bookmark this reply Add yechi7 to your friends list Get a Link to this Reply
I've read that Proof errors are extremely rare. I thought I'd make a killing by buying them all & then strike it rich! It looked too good to be true.

On the other hand, I wonder who his 819 happy customers are? Does anybody here think this might be legit?
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 04/15/2007  6:29 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
A Proof coin on which one digit of the date is less frosty than the rest? Uh, no, this is not an error. It's within the tolerance considered "acceptable strike" by the US Mint. Although you would expect that nice, deep cameo frost on a Proof, such is not guaranteed, and indeed not always present.

A point to consider, Dovid, is that there are a huge number of inexperienced coin collectors out there who are unaware that forums like this one even exist. They don't interact with other collectors, and they learn very little about the pitfalls of the hobby. If this seller is a capable businessman, always shipping on time and willing to accept returns, he could generate thousands of Positive feedbacks selling to people who aren't aware that his coins are essentially worthless.
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yechi7's Avatar
United States
717 Posts
 Posted 04/15/2007  7:01 pm  Show Profile   Bookmark this reply Add yechi7 to your friends list Get a Link to this Reply
An eye opener!
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Morgan Fred's Avatar
United States
2684 Posts
 Posted 04/15/2007  11:12 pm  Show Profile   Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Dovid, welcome to the forum!

Like the others, I have real problems with this auction, with the coin, with the seller, and with AGP (the latter two being one and the same). As stated, ethically-oriented slabbers don't sell their own slabs. I read AGP's "guarantee" and while he presents all the right buzzwords including backing his slabs with a money-back guarantee, he's certainly not established in the grading business and probably never will be as long as he doesn't remain independent from his sales... which is why the reputable slabbers are known as "Third Party Grading Services".

Like the 150 other wannabe and fraud slabbers, AGP is suspect until proven otherwise.

Stay away from this guy, stay far, far away. He's out to make money off you and there's no way you're gonna recover whatever you spent on this coin.

Fred

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docsfishn's Avatar
United States
1031 Posts
 Posted 04/15/2007  11:38 pm  Show Profile   Bookmark this reply Add docsfishn to your friends list Get a Link to this Reply
That's why I'm glad I'm part of this coin community. I learn things everyday. Just as I have done now. I wouldn't have bought that particular coin but could have bought other suspect coins in the future. Research first then buy, just as you have done Dovid. Welcome.
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Conder101's Avatar
United States
17884 Posts
 Posted 04/19/2007  09:08 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
AGP is another fourth tier service, basicly a fly-by-nighter. The 2003 Ghost 3 is VERY COMMON and my even constitute a majority of the issue for the year. All it is is an incompletely frosted die. Without the frost to create a contrast with the field the 3 seems to disappear as the coin is tipped while the rest of the date brightens as their frost catches and scattters the light.
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