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 Replies: 11 / Views: 1,709 |
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Pillar of the Community
United States
3843 Posts |
Saw this posted on another forum and thought it would make more an interesting topic here. Why did PCGS slab an coin with obvious graffiti as problem free? 1796 $1 DRAPED BUST DOLLAR LG DATE, SM LET PCGS VF20 http://www.ebay.com/itm/1796-1-DRAP...em540cb68085 |
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Pillar of the Community
United States
9792 Posts |
It seems that TPGs give a lot of leeway to damage on Federal era coinage. I'd hope it's selling at a fair discount over a nice coin of the same date and variety, yet the seller ( US coins) is asking at least $600-800 too much in my opinion, for a coin with obvious damage on the obverse and in the main focal area. "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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Pillar of the Community
Korea, Republic Of
1881 Posts |
TPGs are tend to be rather lenient when grading Federal era coinage. Often times, minor damages won't give the coin a details grade.
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Bedrock of the Community
United States
17884 Posts |
I wouldn't consider that to be minor damage. No way that should have been graded problem free. That is a heavy, large, deliberate X cut into the coin.
Edited by Conder101
08/02/2014 08:04 am
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Valued Member
440 Posts |
Agree a giant "X" cut across the face of the coin should have gotten a details grade. I don't consider that "minor damage".
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Pillar of the Community
 United States
1949 Posts |
If someone sent that back to pcgs, would that be covered under their guarantee?
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Rest in Peace
United States
10625 Posts |
My guess is the dealer that submitted this is a large volume customer of PCGS. Nuff said.
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Moderator
 United States
16677 Posts |
I've seen PCGS give important Colonials with obvious corrosion a problem free grade.
I would not buy this coin personally.
swcoin.ecrater.com
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Valued Member
United States
291 Posts |
I have seen explanations where they accept coins where the damage was done by the mint to lessen the weight of the coin to bring it within tolerance, but I do not think that is what we are looking at here. A big X across the face should have been picked up as graffiti.
The best suggestion I've read so far is the submitter got a pass because of his VIP status.
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Pillar of the Community
United States
7613 Posts |
If you are a big contributor to the TPG's bottom line you will get a "free pass" on occasions. I'm sure all it takes is a few phone calls to the right people. That's the way business (and politics) work. They advertise that the graders "have no idea" of whose coins they are grading. If you really believe that then I have some oceanfront property in Arizona that would be right down your alley. |
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Pillar of the Community
968 Posts |
I'm guessing PCGS considers them to be adjustment marks. Or they messed up, who knows.
EDIT: I looked closer, I think they just messed up, they don't look like adjustment marks.
Edited by chasingtailbar
08/02/2014 11:21 am
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Pillar of the Community
United States
2815 Posts |
Great comments so far pointing out the "realities" of TPG. Ahhhhh greed. How they love thee. For me, TPG is mostly about authentication. For example, when I start buying CC Morgan dollars, I'll be happy just to know that they are authentic. |
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Replies: 11 / Views: 1,709 |
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Posted 08/02/2014 05:58 am
