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Possible Case Of A TPG Destroying Value!

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austrokiwi's Avatar
2087 Posts
 Posted 02/05/2013  03:32 am Show Profile   Bookmark this topic Add austrokiwi to your friends list Get a Link to this Message Number of Subscribers
Have a look at this ebay listing

http://www.ebay.com/itm/1965-New-Ze...71142761500&


In 1965 there were 10 Proof sets produced. These came in specially marked cases. Also produced that year were 25000 polished standard ( looks very much like proof but are not true proof coins). Now lets assume that the set for sale is one of the rare poof sets. The Slabs make no reference to the coins being from one of the 10 proof sets. The real evidence, the case the coins were issued in, is no longer with the coins. Any one wanting to add the rare proof set would likely avoid this set like the plague. A real proof set from 65 would probably demand US$4000 per coin.

Edit: The editor of the Royal Numismatic society of NZ Journal advised me that there are strong suspicions that the 10 proof sets were struck as part of the run of 25000 polished standard sets. In other worlds there is no difference between the proof and polished coins. To prove the set was one of the ten would require the case of issue and card that was included with the set.

There is another NZ coin ( rare) that should never ever be slabbed with a mintage of 300 the coin was sold in a "Wakahuia" ( Maori treasure box) there are two versions of the "Wakahuia", 75 were hand carved and the remainder were machine made. The issue has high rarity value because around 75 coins were presented to the Tribe whose ancestor,Pukaki, is represented on the coin. As a result there are only 225 coins available in the market. Should this coin ever be slabbed the person commissioning the grading would probably take the coins value from a minimum of around US$5000.00 down to its Bullion value ( aprox 1.2 troy oz gold)

Here is an example of the coin I couldn't find pictures of the Wakahuia.

http://www.noble.com.au/auctions/lot/?id=174339
Edited by austrokiwi
02/05/2013 06:08 am
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basebal21's Avatar
13014 Posts
 Posted 02/05/2013  04:40 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Your link didnt come through properly.
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austrokiwi's Avatar
2087 Posts
 Posted 02/05/2013  09:47 am  Show Profile   Bookmark this reply Add austrokiwi to your friends list Get a Link to this Reply
Try it now Thinking about it further it may be the seller jumping to conclusions about the set rather than some one taking a set out of its case.
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SsuperDdave's Avatar
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23522 Posts
 Posted 02/05/2013  1:19 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
I know this is just arguing semantics, but the person destroying the value here is the submitter, not the TPG. Although NGC is marginally better than PCGS as regards World issues, I really still can't say I trust them. If I was told NGC had never heard of the 10 exclusive sets, I'd believe it.

Nor would I disbelieve them slabbing the "polished standards" as Proofs, even though they also do the "Specimen" designation which I think would better describe them.

If they're the actual Proofs, the submitter is guilty of believing that a TPG can create "law" with their designations. If not, NGC is guilty of seriously misleading their audience, willfully or not. Either way, their true origin should be on those slabs, and as you've said the only acceptable evidence is the original box and documentation.

This is a tragedy however you parse it.
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mds308's Avatar
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1721 Posts
 Posted 02/06/2013  2:03 pm  Show Profile   Bookmark this reply Add mds308 to your friends list Get a Link to this Reply
SsuperDdave,

Aside from your informative comment, I learned a new word today.

Parse = To break (a sentence) down into its component parts of speech with an explanation of the form, function, and syntactical relationship of each part.

There you go teaching me something new. Just don't start billing me for all these semester hours.
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