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Top Population Discrepancies At PCGS?

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westcoin's Avatar
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 Posted 07/22/2014  9:47 pm Show Profile   Bookmark this topic Add westcoin to your friends list Get a Link to this Message Number of Subscribers
Just curious, it's been a while since I was a PCGS member, so I signed up again. Upon doing some research I came across this oddity;

Lincoln Cent 1959-P RD PCGS highest grade is MS67RD though on the coin facts page for that coin they show a sale of a PCGS MS68RD back in 2003 in a Teletrade auction. The MS68RD sold for under $30.00 then, the MS67RD is shown selling at auction for $2700-4300 IN MS67RD

Posible that the MS68RD was resubmitted and bumped down a grade I guess, but this just seems strange any ideas on where this coin is today?
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

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zxcccxz's Avatar
Canada
5417 Posts
 Posted 07/22/2014  10:14 pm  Show Profile   Bookmark this reply Add zxcccxz to your friends list Get a Link to this Reply
Looks like an error in the system. I've seen this type of stuff before. I see a few dates of coins where the estimated survival rate is actually less than the number of total coins certified in that category, go figure...
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westcoin's Avatar
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 Posted 07/22/2014  11:21 pm  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Yes, but this is a bit different, they obviously had a MS68RD before, as it sold in a Teletrade sale, I wish Teletrade had kept their image archives alive when they moved over to Stack's/Bowers, it would help to see the slab and have the cert # on it. I can see this going the other way more than showing a coin sold at auction that never existed however, I suppose it could just be a typo too. If a MS68RD does really exist, whoever bought it for $26.00 back in April 2003 did pretty well considering the most recent sale of a MS67RD was $2767.00 in October 2013.

I was only looking at 1959-P Lincoln cents as I found a couple of original rolls I had stashed away and thinking I might have some high grade ones in them, I should see what they sell for in MS67RD or better.

Back when a good friend of mine worked for them, he told me a story of a particular gold coin with a really low mintage like 25 or so, and that coin had a population at PCGS of almost twice the mintage, in fact the coin came through every few months raw, he said obviously cracked out in hopes of an upgrade, the graders all knew the coin from the several small ticks it had, and no it never upgraded according to him, at least not while he was a grader there. This was pretty early on in PCGS history, when they still accepted labels for crack outs and paid ($4 or $5 each I think) for any returned labels from their slabs.

A MS67RD 1959P LMC is a coin where a single point can really make you a lot of money! in MS66RD $32.00 in MS67RD $3600 according to the PCGS Price Guide.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

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Edited by westcoin
07/22/2014 11:28 pm
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BH1964's Avatar
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 Posted 07/23/2014  12:41 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
Looks like an error in the system. I've seen this type of stuff before. I see a few dates of coins where the estimated survival rate is actually less than the number of total coins certified in that category, go figure...


That can be explained by re-submissions (crack-outs) where the same coin is submitted over and over and over again hoping for a higher grade. On lower pop series that happens often because a point higher grade can mean huge dollars. What then happens is a Pop Report that means little even if it's accurate for the number of times the TPG actually graded a coin.
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westcoin's Avatar
United States
9796 Posts
 Posted 07/23/2014  03:17 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
But wouldn't the coin have already been in the MS68RD holder - if so why submit it if it is the only one?
I get it with the resubmissions, but cracked out? Unless the original MS68RD label was returned to PCGS their pop should show it, as the coin has made appearance at an auction, according to their own coin facts info.

Not just a typo - as the Teletrade site also shows the coin being sold at auction there too. it has a trail. That is what is so weird.

And not that it matters that much, I'm just being curious because I can be
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

See my want page: http://goccf.com/t/140440
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