@oih82w8 - thanks for the link - sheds more light on the situation.
But I don't understand why anyone would want a coin already labeled by NGC graders as a proof to send it to the company whose three graders evaluating this coin totally missed seeing what they were looking at - a rare pattern coin - in the first place.
It was missed by everyone for a 100 years. It wasn't just PCGS nor was that the first time it was sold or sold at auction. When you look through it Heritage
missed it the first time too, it just happened to get in front of the right person who noticed it.
The article linked to by oih82w8 shows the facts say otherwise. This coin was in one collection. The owner passed away. The family sent the coin to be graded. None of the above are said to be professional graders, so I can see why they missed it.
I can see collectors "missing it" after it had been slabbed or the saying, "Buy the coin and not the slab," would not be so often said.
However, this coin seems to indicate the (PR) videos showing the actual grading process are not necessarily as real as they want us to believe. The level of scrutiny allegedly given to each cpin, by three different graders, crtainly not allow the missing of something this obvious.
State this another way. How in the world would three trained and expert graders who are intently studying (specifically) the coin to note the condition of its fine details NOT be able to see such an obvious difference like the extra branch?!
So just what does this say about if they were confronted with a good fake coin?
How many good fakes are slabbed and yet go unnoticed by the general coin collecting public who need to learn to buy the coin and not the slab? This is hypothetical at best, but missing an entire extra branch speaks volumes. If the pattern had only been missing the letter M, then that would be something else to consider...or would it? Three trained experts deliberately examining a coins details not seeing an obvious missing initial on the front?
Something about the videos showing the high level of scrutiny for each coin is certainly not what has happened. Again the tangible facts seems to corroborate exactly what has been posted before about the grading process being rushed.
As for why, a lot of the big time coins NGC brags about end up getting crossed when they are won.
I did not see anything that indicated NGC was bragging - NGC did not write the article linked to. Could you point me to the bragging article you read?
There's two potential buyers I can think of that if they want it they will win it and both would almost certainly try and cross it if they win.
Personal preference makes a lot of sense as to why someone would cross it. Its a hobby after all.
And, like you said, PCGS would likely label it correctly this time. There has been a lot of publicity and I can see where it would be best, reputation wise, to do so.
I just was not sure why you said there was a "strong chance" it would be crossed over. Come to think of it, have there many other documented
slabs crossed the opposite direction to another company? Is there anywhere that actually records such things? I would think it advantageous to whichever company gets the most submissions to be crossed over to publish something like that.