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Coins That Have Been "Cleaned"

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biokemist6's Avatar
United States
12437 Posts
 Posted 01/24/2008  4:12 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
quote:
I am talking about fraud...I expected the grade to be lower, but not that three different grading companies would actually grade a cleaned coin


That is the crux of the situation- most "third party grading companies" are not a company at all but some guy putting together CoinWorld slabs in his momma's basement and making the labels on an inkjet printer. That generally means that "slabbing" is someone's way of getting rid of their cleaned, altered, and damaged coins at higher-than-market prices. The only reputable companies that actually take public submissions are PCGS, NGC, ANACS, ICG, PCI(future uncertain at this time) and SEGS. I believe that ICCS would also fall into this category but they are for Canadian coins. Any other jumble of letters is a sham outfit. If the company does not do public submissions, have a physical street address(not a PO Box), or is not listed with the FTC and the BBB, then they are not a true TPG and since it is just a "guy in momma's basement", good luck on finding anyone to prosecute for fraud
Pillar of the Community
1sikevo's Avatar
United States
1130 Posts
 Posted 01/24/2008  4:33 pm  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply
bcow527 - Just out of curiosity, what company slabbed these coins originally ?
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julie a aronson's Avatar
United States
2 Posts
 Posted 01/24/2008  5:58 pm  Show Profile   Bookmark this reply Add julie a aronson to your friends list Get a Link to this Reply
I bought a coin that is lightly cleaned 1884 S Morgan looks to be a MS 63, really great price but I would never be able to tell it was cleaned by looking at it, how do you tell?
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1sikevo's Avatar
United States
1130 Posts
 Posted 01/24/2008  6:11 pm  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply

quote:
I would never be able to tell it was cleaned by looking at it, how do you tell?


something off witht the original luster, micro hairlines, the accumulation of dirt in recessed areas, etc.
Bedrock of the Community
biokemist6's Avatar
United States
12437 Posts
 Posted 01/24/2008  6:23 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
quote:
I bought a coin that is lightly cleaned 1884 S Morgan looks to be a MS 63


Welcome, I hate to be the bearer of bad news but if it was cleaned the highest mint state grade a coin can achieve is MS60. I seriously doubt that your coin is even that high.

Why do I say that? 1884-S is what is known as a "conditional rarity" coin. An uncleaned, undamaged MS63 1884-S Morgan is a $30,000+ coin due to the fact that very few survive in AU-MS grades. Can you post a picture of it? I would be interested in seeing your coin but it is doubtful that it would grade very high at all, even a solid AU coin is worth hundreds of dollars.
With a picture, we could give you some indicators for the cleaning and give an estimated grade.
Edited by biokemist6
01/24/2008 6:23 pm
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