Some recent topics on TPGs and their abilities reminded me of this, which I'm sharing for those who think some TPGs are fool-proof. Some PCGS goofs:
Quote:Here are the twelve most expensive PCGS Guarantee "buy-backs";
1794 Silver dollar AU55 $575,000, January, 2008. This was a beautiful looking coin, but on close examination, the hair had been reworked and the toning was actually not original. It was obviously a very skillful doctoring job and it fooled a lot of people.
1849 Mass & Cal $5 AU55 $150,000, June, 2006. This is a very rare territorial gold coin that turned out to be counterfeit.
1792
Half Disme XF45 $150,000, January, 2008. This coin had actually been flattened, probably around 1800, and did not look right at all. We shouldn't have missed this one.
1969-S double die
Lincoln Cent MS65RD $80,000, November, 2003. This coin "turned" color in the holder and now only graded MS64RB.
1861/57-S Clark Gruber $20 MS63 $75,000, November, 2007. This coin had been known to the coin community for decades. In fact David Hall had it at coin shows for sale in the mid-1970s. But research eventually showed that this coin, and several other Clark Gruber rarities, were actually counterfeits that were probably made in the 1950s or 1960s.
1861 Clark Gruber $20 (three) MS62s $55,000 each, January, 2008. Same type of circa 1950s counterfeits as coin above.
1899
Indian cent PR69 $50,000, February, 1988. This gorgeous proof
Indian cent later developed a huge copper spot covering the face of the Indian. We bought the coin back and hung it on the grading room wall with a sign that said "The $50,000 Spot" and we told the graders to be really careful when handling copper coins.
1908 $20 St. Gaudens PR63 $45,000, July, 2008. This matte proof Saint had been improperly cleaned or conserved or doctored or whatever you want to call it. We missed the subtle surfaces problems which later became not so subtle as the chemicals used by the "doctor" reacted on the coin.
1963
Lincoln Cent PR70DCAM $40,768, April, 2004. This perfect Lincoln proof later developed a few minor spots. Not really our fault, but it was covered by our grading guarantee.
1849-D gold dollar MS64 $40,000, July, 2008. This was a beautiful, very high grade Dahlonega Mint that unfortunately had a planchet lamination on the rim the broke loose and negatively effected the coin. This was not really a grading mistake, but an unforeseen problem covered by our grading guarantee nonetheless.
Posted 01/10/2014 11:12 pm
