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Update On An ANACS Mistake With My 1922 No D Lincoln

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cipster's Avatar
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2362 Posts
 Posted 11/19/2012  4:55 pm Show Profile   Bookmark this topic Add cipster to your friends list Get a Link to this Message Number of Subscribers
A few months ago I created a thread and we discussed this coin. Many of you contributed to the discussion so I thought I'd share the final outcome. Here's the brief version of the story. I sent ANACS a raw coin that I collected from circulation and had for over fifty years not realizing its value. It came back as No D FS401 Die 2 EF40.
Update-On-An-ANACS-Mistake-With-My-1922-No-D-Lincoln

I tried to sell it but a potential buyer challenged the variety so I posted it on CCF and most agreed it was not Die pair 2 mostly because of the weak reverse but there was not full agreement on the actual variety but Die 3 was mentioned by a few members. I could have just sold it and walked away with a lot of money but knowing it really wasn't Die pair 2 would bother me forever.

So, I contacted ANACS and sent it back for regrade knowing that there was nowhere to go but down in value. I didn't expect it to go down this much as it came back as Weak D Die 3 EF40. The ANACS response was they did not make a mistake in grading it but someone used the wrong label. The Weak D designation bothered me because I was sure it was No D, but my understanding is that ANACS only uses the designation No D on Die Pair 2 labels.
Update-On-An-ANACS-Mistake-With-My-1922-No-D-Lincoln

So in an effort to boost the profit of yet another TPG I sent it to NGC. I really feel that this is the correct variety and grade No D Weak Reverse VF30 BN. I guess 10 points wore off the grade by mailing and slabbing it so many times.
Update-On-An-ANACS-Mistake-With-My-1922-No-D-Lincoln

I would hope the value is somewhat higher than the Weak D â€" any guesses on its value?
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macmercury's Avatar
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 Posted 11/19/2012  6:09 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I have no idea, but I hope you have calculated the fees and shipping costs into the factor when selling.

This also proves that TPG is sometime no better than some of our resident experts!
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jbuck's Avatar
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 Posted 11/19/2012  6:26 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
The original thread for those who wish to read it...

https://goccf.com/t/117507

Interesting how the grade dropped 10 points. The difference between companies and/or graders.

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SHAFTA9a's Avatar
Canada
10743 Posts
 Posted 11/19/2012  7:04 pm  Show Profile   Bookmark this reply Add SHAFTA9a to your friends list Get a Link to this Reply
Wow, how can professional grading companies call a coin one grade and send it to another and call it something else.

Just goes to show that we send our money in to grade coins and they are no better than some of the graders on CCF.
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basebal21's Avatar
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 Posted 11/19/2012  7:11 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:

Wow, how can professional grading companies call a coin one grade and send it to another and call it something else.


It does happen but NGC unfortunately is pretty unpredictable right now. Theyre pretty over worked and a good number of people feel their quality is suffering at the moment because of it. Theyd probably be well suited to slow down turn around times a bit or lure some more graders there
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Moe145's Avatar
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 Posted 11/19/2012  7:26 pm  Show Profile   Bookmark this reply Add Moe145 to your friends list Get a Link to this Reply

Quote:
The ANACS response was they did not make a mistake in grading it but someone used the wrong label.






Quote:
I guess 10 points wore off the grade by mailing and slabbing it so many times.





Man, I'm sorry.
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BH1964's Avatar
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10982 Posts
 Posted 11/19/2012  7:28 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
The original thread for those who wish to read it...

https://goccf.com/t/117507

Interesting how the grade dropped 10 points. The difference between companies and/or graders.


Looking only at the large image of the obverse in the linked thread, I agree with NGC calling it a VF30. The ANACS grade of XF40 was very generous.

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IHPO8S's Avatar
United States
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 Posted 11/19/2012  9:00 pm  Show Profile   Bookmark this reply Add IHPO8S to your friends list Get a Link to this Reply
I have 2 strong reverse coins. 1 in vg 10 and 1 in vf30 both by pcgs. Graded back in 1999. Me personally I would rather have a no d weak reverse lower grade then the higher grade weak d.
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 Posted 11/19/2012  9:50 pm  Show Profile   Bookmark this reply Add Kellyk to your friends list Get a Link to this Reply
So 3 submissions of same coin results in 3 very different labels. Just curious...Did ANACs pay for your shipping costs since it was originally their mistake?
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acloco's Avatar
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 Posted 11/19/2012  11:06 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
I do NOT agree with the NGC grade. These are notorious for a soft obverse strike. This coin has completely split cheek and jaw...this is an XF40 all day long.
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D0ubl3Eagle's Avatar
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 Posted 11/19/2012  11:10 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
I looked at some auction records and my guess would be the coin would be worth around $130 in the Weak D ANACS slab and around $400-450 in the NGC slab.
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BH1964's Avatar
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10982 Posts
 Posted 11/19/2012  11:44 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
I do NOT agree with the NGC grade. These are notorious for a soft obverse strike. This coin has completely split cheek and jaw...this is an XF40 all day long.


Cheek and jaw separation differentiates F from VF. Complete cheek and jaw separation is a (general) requirement to make a VF20 grade.

Here's the same variety in PCGS VF35. ANACS was generous. NGC maybe a touch conservative as it should be.

Update-On-An-ANACS-Mistake-With-My-1922-No-D-Lincoln

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Broken-Coin's Avatar
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1812 Posts
 Posted 11/20/2012  01:33 am  Show Profile   Bookmark this reply Add Broken-Coin to your friends list Get a Link to this Reply
I know ANACS does NOT make mistakes in grading coins.
I know this because a few years back when I received my error coin back from ANACS (that I had purchased from Fred Weinberg) with zero notation of it being a error, and telephoned them a few times, in the last call they said that their graders don't make mistakes...

I have yet to find one TPG service where I didn't have a problem with them.

I never submitted coins to PCGS because they charge too much, but had purchased a 10 Coin lot on ebay where all 10 coins had been graded PCGS Proof-69 DCAM, and not one coin had a deep cameo...
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3184 Posts
 Posted 11/20/2012  01:50 am  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
I'm a fan of NGC and agree with their grade
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cipster's Avatar
United States
2362 Posts
 Posted 11/20/2012  10:58 am  Show Profile   Bookmark this reply Add cipster to your friends list Get a Link to this Reply

Quote:
Did ANACs pay for your shipping costs since it was originally their mistake?

No, they regraded it for free but refused to pay for shipping.


Quote:
they said they did not make a mistake in grading it and someone used the wrong label.

Often when you lie, you get caught. When I first contacted them the rep looked up the original grading notes and said that two graders independently came up with Die 2 FS 401 No D variety. When they regraded and changed to Die 3 they tried the 'wrong label' story. Oops.
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"You got to lose to know how to win".
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jbuck's Avatar
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187862 Posts
 Posted 11/20/2012  11:16 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Ultimately, the grade does not matter to me, but attribution and authentication do.

I know this is not for everyone, but if this were my cent, I would have happily cracked the coin out of the first slab and placed it in my Dansco. Done.
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